This is an update to my previous Bitcoin short idea. Price reached above 50% of the range which means it has reached the minimum premium for shorts being viable. I will monitor price action in the current Daily Order Block and see if we move lower from here. There is a resistance trendline with Buyside liquidity so we may still reach higher into the zone from my...
Bitcoin (BTCUSD) almost tested the Higher Lows trend-line that started on the October 12 2023 Low, which is technically the bottom of the 6-month Bullish Megaphone pattern. Having a notable Resistance on the 1D MA50 (red trend-line), which is where BTC last failed to make its bullish break-out, if this level holds, then we can expect a strong Bullish Leg such as...
The recent analysis of Bitcoin's price dynamics on the Binance exchange, captured on a 4-hour chart, indicates a significant bearish trend. The price has notably broken below a dynamic support within a descending channel, punctuating a swift decline in market value. This descent is further emphasized by a failure to hold above the support around the 51K area,...
Bitcoin (BTCUSD) hit and broke yesterday below the 1D MA100 (red trend-line) for the first time in more than 3 months (since January 23 2024). This is progressively turning the majority of news and traders across the market bearish and in full confidence of shorting to even lower prices. Should long-term investors panic?
The answer appears to be 'No' and in fact...
✅BITCOIN is going down now
But a strong support level is ahead at 60k$
Thus I am expecting a rebound
And a move up towards the target at 64.2k$
LONG🚀
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Bitcoin (BTCUSD) is about to test the bottom of the Bollinger Bands (BB) on the 3D time-frame for the first time in 3 months (since January 25). Right now the squeeze between the BB basis (blue line) and the bottom (green line) is extremely tight and since the start of 2023 this has been fairly accurate bottom call.
The trend since the November 2022 bottom has...
Bitcoin has retraced but not back to the 60K major support which I wrote about in my previous article. Instead, it is in the process of establishing a higher low along with a bullish pin bar (see arrow). The current candle has taken out the high of the pin bar which can be interpreted as a signal for a swing trade long. IF momentum takes hold, it is within reason...
Bitcoin (BTCUSD) has successfully tested and held the Mayer Multiple (MM) Mean (red trend-line) and is now consolidating. As you can see by the green arrows, this is the point where historically the most aggressive part of the Bull Cycle begins, as even in the occasions where the MM Mean broke marginally (July 2013), the rebound that followed was even more...
BINANCE:XRPUSDT is forming a technical false break of support, in the long term consolidation above the zone should be formed with the purpose of continuation of growth, the potential of which can be opened by 50-70%
The price on W1 is squeezed within the triangle. Another attempt to retest the resistance zone is being formed. At the moment, the market is...
Bitcoin buy position running 220 PIPS in profit since I posted this analysis. Nice move up so far, with much more expected towards a new all time high!
Just a reminder. Bitcoin's Halving is only 3 days away.
Historically heavy chop trade took place before the Halving events. Only once (July 2016) did we see a new Low after the Halving.
Chances are the correction will be over before the Halving.
Do you really want to be holding shorts after that??
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Bitcoin (BTCUSD) touched today the bottom of the Channel Down pattern that started a month ago on the March 14 High. Ever since is posted Lower Highs and Lower Lows, dropping under the 1D MA50 (blue trend-line). Since the long-term trend for months has been a parabolic rally, this pattern can be seen just as a big Bull Flag, a necessary short-term pull-back before...
Bitcoin (BTCUSD) made a sharp decline on Saturday and is now in the process of recovering. The 1W candle wick dived as low as the low of almost 30 days back (March 20), extending the 1-month consolidation since March 13 High. This is of course directly related to the fundamental aspect of BTC's Halving, which is due at the end of the week and historically exerts...
Bitcoin has rejected the 70K area resistance as the pre halving consolidation unfolds. In hindsight, you were better off listening to things like support/resistance LEVELS and price structure rather than all of the social hyperbole going into the halving event. "Buy The Rumor, Sell the News" seems to be what is in play here and usually makes fools of people who...
✅BITCOIN broke out of the
Narrowing wedge pattern
And the breakout is confirmed
So we are bearish biased now
And we will be expecting
A further move down
SHORT🔥
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Bitcoin may be neutral on its 1D technical outlook (RSI = 46.271, MACD = 810.300, ADX = 25.259) but it just broke under the 1D MA50 for the first time in more than 2 months (February 6th last contact). In the meantime, it crossed under the HL trendline of the Ascending Triangle, so we have a full-scale technical bearish breakout. The RSI pattern looks very much...
Hello,Traders!
BITCOIN is trading in an
Uptrend and the coin is
Now forming a bullish
Pennant pattern so IF
We see a bullish breakout
Then a further move up
Is to be expected
Buy!
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