Bitcoin did end up catching 33k support as the bottom. We didn't see a touch of 27k or something crazy like 24k or sub 20k.
From here, looking at the 4-hour of BTC it looks like this was the bottom painted here after wicking 33k for a 2nd time, along this rising channel around the $36-37k zone heading upwards to 40k and beyond.
The next major move for Bitcoin...
Bitcoin has gradually but consistently lifted from $31,000 to levels near $40,000. However, the flagship cryptocurrency has not entirely broken above the resistance at $40,000, especially with immense resistance presented by the 200 Simple Moving Average (SMA) on the four-hour chart.
At the time of writing, BTC trades at $38,800 following a minor rejection from...
BTCUSD - Intraday - We look to Buy at 37313 (stop at 36246)
The primary trend remains bullish.
Reverse trend line support comes in at 37400.
20 4hour EMA is at 37300.
We look to buy dips.
Dips continue to attract buyers.
The trend of lower intraday highs has also been broken.
Our profit targets will be 40484 and 41484
Resistance: 40000 / 41000 /...
Hi guys, this is OG back with another Bitcoin update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below.
Bitcoin went on a massive rally this weekend. Not only did we break out of the W bottom neckline at 36.2K, where I called for a long in...
This is our updated chart with 4 different scenarios, each one with a percentage.
Let's see what happens next.
ps. as you can see if you have parience to buy or sell at the next support or resistance you could be up for a great trade!
So far respecting trend line support. Would have liked to see close above 39300. Forming a base here. As long it HOLDS 30k AND trend line support, I think it's another 4-5 weeks before it makes move higher to 57k. This time estimate is based on experimental calculations based on how long it took to find bottom from 57k and how big the drop was.
Lets look at all the facts of BTC regarding TA.
On the monthly chart– We have had a evening star formation. This is a Reversal pattern.
Weekly chart – We are in a weekly sell range and Btc is making Lower lows and Lower highs. Currently in a down trend.
Daily – We are in daily sell range.
BTC is bearish for the time being. We have liquidity squeezing inside the...
Wishes for a fantastic week ladies and gentlemen.
Watch the video and let me know your thoughts. How will this Flag play out? By definition it's a Bullish Flag.
(NO TIME TO WATCH? WAIT FOR THE CHART IDEA IN 5 MINS)
According to a Poll on my Telegram channel:
24% believe it will break up and go higher
36% Break up and then drop lower
25% break down and then...
As we can all see, we have a falling wedge pattern. Price broke out successfully at $36,000 with a pull back and we now have an uptrend in place.
Therefore, I expect price to continue in this new trend, long to $43,000, short to $39,000.
Another long to $46,00, short to $43,000 before a good BUY to $50,000.
What do you think?
Share your opinion in the comment...
As suggested in my previous analysis that Bitcoin will bounce off 34 K zone as it was falling at 0.5 of Fibonacci level and it exactly bounced off the same point.
By completing that bounce, things started to look Bullish for Bitcoin.
Going by the chart, next major stop for Bitcoin will be at 45K zone at wave 3. However this should take more than a week to...
After Bitcoin's most recent visit to the institutional demand level around 30k, BTC experienced a strong 12% daily rally, followed by some weakness on the third touch of the upper daily downtrend channel line. Today however, BTC is starting to show signs of strength again as it has just broke through the upper daily downtrend channel line. Technically the...
On June 21, we saw a trend shift in BTC at the level of 31000 . After touching 38490 from there, BTC developed a flag pattern that can be clearly seen in 1H timeframe. On this day, at 16:00 , BTC broke out of the flag pattern, giving us a good buy opportunity. Next resistance is at the level of 40,000 and chances of BTC breaking above it are quite high. If...
Bitcoin beautifully closed the weekly candle at level 39k. Which is very positive for further growth.
Now it is important to watch the daily close above 40k and then there is more resistance at the level of 42k 45k and 48k.
Supports - 35k, 31k.
Bitcoin has surprised us with an strong impulse to the upside, so that we can adjust our wave count accordingly.
Where are we now?
Most traders will happily buy into the pump, but we have some warning signals:
+ There is no volume in the beginning of the impulse, only at the end. This suggests fomo-buying by weak hands and not substantial...