#BTC is following a clear descending channel. Bitcoin is currently bullish, so we can expect to see it make a run to 13k-14k and reach the top of the channel. Once it hits the top of the channel we will wait to see if BTC will break the channel and climb back up or break down again to the bottom of the triangle at 6k. Lets hope for the best on this one.
Strong Buying zone at the completion of the equal measured move as well as the 618 retracement Buy orders have been placed with a decent 1:2.35 Risk/Reward Ratio.
I think that we are on the fourth Elliot Wave and we are heading to the 5th wave. Ready to 20k+ guys!!
BTCUSD update: Some selling activity is now appearing in the middle of the 16350 to 17876 resistance zone. This price action also happens to be in an area of overlapping resistance levels that I will explain further in this report. If price cannot recover quickly, it is more likely to retest the low 15K area. I have been writing about the 16350 to 17876...
BTCUSD update: Minor retrace to the 18k level followed by a bullish pin bar off of a narrowing channel that points to an attempt at 20k. Now that both the CBOE and CME futures are in play, I anticipate more and more price noise in this market, and based on the current structure, a test of the psychological 20k level. As far as levels goes, not much has changed...
Hi guys, So it seems we are in a bullish market, expected to hit 20k and come back to a dip to find support on the 19,5k line which previously acted as resistance. We also have the RSI indicator preparing to go into Overbought mode, so be on your toes for this one. What do you think?
We can see cup&handle formation on btc, take profits are 18,19 and close to 20 levels. Good Luck :>
Sorry about the deleted TA from earlier as i published last one it blew thru a hole lol So again the bulls and bears fight over which way Bitcoin is headed, we can see a clear bounce from a major support level around high 12000's most probably see a retest of this, and if breaks down headed toward the lower area's of the Gann Fan seems like the top of bounce...
Dow breached 20K on flaky foundation, long on crypto
There are signs a top may be forming here. We've had a very extended bull run, and now we're beginning to see very clear divergence between price and RSI on the daily. Divergence alone is not a setup. Divergence can continue far longer than most people are prepared to hold a drawdown. It's just a reason we might look for more defined setups to trade. The key...