Looks to me like a Cup & Handle formation is building up.
It started shortly after the famous "President Xi Pump" in Oct 2019 and the handle looks like it's about to go to the upside, if it plays out by the book.
Of course, bitcoin loves to surprise, and also to not do exactly what a lot of people tend to think.
Whichever way it goes, it seems like we'll know...
BTC / USD
• We are Bullish in March, 2020. The sentiment has not changed from last month (Bullish to Bullish)
• Long Term Trend is Bullish.
• Breakout of Bearish Trend line and strong moving averages confirm Bullish Momentum.
• Support Levels are $ 8500 (Weak), $ 7500 (Strong) and $ 6200 (Very Strong)
• Resistance Levels are $ 10,000 (Strong), $ 13,500 (very...
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Well I am now very bullish on the May event everyone is talking about (the halvin), the downward momentum was not strong at all we didnt even come to breaking the support line we have made previous but what about that trend which would be key support if we break this one at this point, I am very bullish on BTC, the stock markets going down, oil price hitting low...
Well, the BTC correction has been triggered. Just another good opportunity to fill our bags.
Everything I can see right now you can find on the chart.
This would be most probably the zone of interest, where many buyers will be looking for their longs. They are just taking their time for sure. I expect that one more testing we gonna see at least.
Moeda Loyalty Points ( MDA ) with Bitcoin pair has formed bullish BAT pattern and entered in potential reversal zone.
Lets have a look on the move of price action to see how perfect this pattern is driven:
After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B...
BITCOIN TECHNICAL ANALYSIS:
This chart is a continuity of previous prediction. (Link is shared in description)
1- We are Neutral in Bitcoin for very short term.
2- Coin may drop a little from here before resuming its uptrend.
3- Mid term and Long Term trend is still Bullish.
4- Support Levels are 9200 (Weak) , 8700 (Strong) and 7800 (Strong)
It Moved Up More Than I Was Expecting:
I posted an idea on DATA with Bitcoin pair on 5 Oct 2019 here the price action was moving within a down channel and hitting the support of this channel the volume profile of complete channel was showing very low interest of traders at support and the price action found the support at 0.00000427
price action found the...
On Jul 9 2019 I posted this article where the BQX with Bitcoin pair was moving within a down channel and was expected to give upto 706% on long term, some other time I will post an update on this long term article as well coz it needs some more details for now it has formed another pattern which we will discuss...
On 19th of Dec 2019 I posted this article where the price action of Ark with bitcoin was forming a bullish Shark pattern and soon it was expected to enter in potential reversal zone to take bullish move from this PRZ area. Then on Jan 7 the price action entered in potential reversal zone and completed the Shark pattern and took powerful bullish divergence and...
In my previous article it we have seen that the Moeda Loyalty Points (MDA) formed a Cup & Handle pattern and was expected to take a very powerful bull move from the handle of the Cup, and after having some sideways trend the price action moved up and we have seen 102% gains produced by...
Bitcoin has been on an upswing since mid-November. While this inverted H&S may not actually play out, this is what I will be monitoring. Should this Weekly pattern play out we can expect it to test the neck-line around April/May right before the "Halvning". Either way, going Long is the way to go, or just HODL as I am.
Bullish gaussian channel, weak regression trend shows a price close to the middle point of the trend, which is a possible bounce point. Due to this being a weak trend it is not as reliable as a strong trend (>0.75+) however it is interesting.
We have seen some nice gains since start of 2020, Bulls have shown their power. On Daily bases Market went above the cloud so we can say it bullish biased, also on daily candles we can see formation Cup and Handle pattern as well so so we can expect some nice gains in coming days if we moves out of the handle.
Best of Luck.
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We see many compelling reasons to load up on Bitcoin futures. We will be actively tracking the impulsive leg up to our target of $20,000.
- Bakkt platform daily futures volume hit all-time high during November 2019
- Exchange-traded bitcoin options launched Monday on the Chicago Mercantile Exchange
- Increased institutional flow should support next...