What a crazy week! I hope you all made money this week; we need to see bitcoin breaking out of this trading range that we have been in! we need to get above 25,300 for things to start picking up.
btc has been in this channel since the bearish trend line broke , this wave can take us to 50k or even higher , what do you think about this , let me know :)
As we can see there's rebounce possible today. If we close above the support on daily we could see an move to 50k+. We did this rebounce 2 times so let's see if we can do it again;)
BITFINEX:BTCUSD correcting as expected. In the next couple of hours, the price will reach a region of $45'000 and will find strong support. In the past weeks, there was a wedging consolidation, which connected two major waves - wave 4 with wave 5. I think wave 5 by Elliot Wave Theory started and there is a huge probability for a strong quarter and reaching levels...
Bitcoin formed a new bullish pattern after forming a small double top. At around 45k, BTC formed a double top which reversed the trend, but the 42k level hold us and we formed a nice pattern. It has a high probability of breaking upwards. Target is around 50k, which would bring Bitcoin back in an uptrend.
This is, as always, no financial advice.
I previously mentioned if we break this key support zone we would likely see further downside for BTC.
I am looking for a 49-51k BTC by next week, before continuation to the upside.
We are looking for the point of max pain here, its very common to push you to the point you are convinced the bull market is over, you sell your positions, take the loss and then the...
We've cleared this supply on BTC and are now looking for that upper level level at 52k after the first BTC long signal since July on the 1D
The big round number that is $50,000 tends to hold a level of important psychologically with traders (Think 10k, 20k, 30, 60k for the first time.. and how that played with emotions).
That's why despite the structure to the...
Here are my positions sold at the Top (Blue), new buys on the dip and projection of the BTC Price.
We just have to wait for our buying zone
NOTE: NOT FINANCIAL ADVICE, JUST A TOUGHT... AND A WISH
Price keeps hitting above 50k
Major resistance at 50500, if it gets broken expecting a rally towards 51500.
If rejcted, bounce back to 50k with subsquent break towards 49150.
Inverse H&S printing?
Needs support at 49200 for right shoulder to come into play. Could bounce nicely of 50 EMA around this level.
Let's break and support 50k!
btc once again touch 50k, now guyz ready for huge dump timeframe 1week enjoy the short party, personally i m shorting btc from above 50k ladder shorting till 51k liquidation must be above 60k.
#Bitcoin looks a bit exhausted and top heavy.
Trendline from start of this rally seems to be broken, but the daily still has a lot of hours in it.
If we are to move up from here, we would like to see a flip of the 50k resistance level.
If we move down from here, the green box is where we will look for longs.
