Bitcoin seemed to be heading for its demise last night before it broke back above resistance and retested the channel bottom trendline. We do have a trendline (red), which has been supporting this recent rise back up after the big drop and as long as we stay above it, bulls can remain hopeful. This pop has caused MACD to crossover bullish and turned the histo...
Looks like a nice little Bull Flag on the 1hr. After yesterday's Double Bottom which I updated my last post with, Bitcoin has held and formed a nice little Bull Flag. Standby for confirmation and as always, set your stops.
Quick Update Bull Scenario - Daily Higher Low holds@ $6450, - Bulls need to stays above $6500 and push through resistance @$6840-50. - This ascending triangle plays out :D Bear Scenario - Selling pressure increases and $6450 breaks. - Possibility of touching the low $6k is higher and then we'd have to zoom out to the Weekly to determine higher low. Notes -...
Bitcoin had a massive fakeout yesterday when price broke below the demand zone to then completely return back into the channel. For someone jumping onto a short right away, that would have been a very bad move as stops would have most probably been hit causing losses that could have been avoided. As mentioned yesterday, the safest trade would be to let price break...
Hello All, As I take a look at the Bitcoin 1 Day Chart today, it's very clear that the massive wedge is starting to run out of room. BTC has been increasingly tightening its range trading within the upper and lower boundaries for many many months and something is going to happen soon. VERY SOON! For the first time after basically touching the down slope of the...
Through consideration of past highs and lows, this graph determines that we have reached a true bottom over the last couple months, and with the rebounds getting smaller and smaller, an outbreak is impending with the last ounces of bulls pushing the price down for the cheapest purchase.
Bitcoin tried most of the weekend to break higher and test the other end of the channel but had a very hard time breaching $6665. Early this morning, BTC broke outside the bottom of the channel briefly, dipping into the demand zone and quickly moving back inside the bottom trendline. Both the RSI and MACD are leaning bearish at the moment so caution should be...
Bitcoin failed to close above the Tenkan Sen all weekend and has now broken below the Kijun testing the cloud below before bouncing back. The Tenkan Sen seems to be heading lower as well as the cloud has started to taper off turning south, which could spell trouble for Bitcoin. We can see yet again where BTC found trouble and if price closes below the bottom of...
So I stuck to the strategy I posted about earlier this week on Monday of going long at $6350 with the 12EMA on the Daily as my target. I closed my ETH Long at $217 and did the exact same trade when it bounced down to $210 (205-210 is a sweet spot if you're ranging between $200 and $220). Currently I'm in a small (10% trading stack) BTC Long position @$6475 with a...
News - Crypto Industry Reps, Lawmakers and V.C's to disguss regulations. (cointelegraph.com) Analysis - Bitcoin broke down after failing to follow through past resistance @$6828 which was the zone I said to watch out for. - The sell-off triggered stops and liquidated positions though it wasn't too extreme. - We broke Exponential Support and are currently waiting...
Intro: If you've seen the Hyperwave channel on YOUTUBE you're familiar with Consensio, if you have not, the idea is to REMOVE price and just look at Lagging Indicators to determine where price is headed. Let's dive into the 2014 & 2018 comparison: Method: Using EMAs instead of SMAs in this analysis as these offer less noise. Color Scheme Pattern for Consensio:...
Weekly Wrap Up - VanEck ETF delayed again. - Next big event is Bakkt in November. - Congress gives deadline to IRS for October 17th for a new draft of tax regulation. Bull Scenario - Consolidation with resistance turned support on the EMA's would be ideal. - A day or so of sideways movement and then a push to $7.1k. Bear Scenario - Bears defend $6750 and this...
I'm Short term Bullish. The cross over on the Daily MACD, RSI level and location below the trendlines was my bullish buying point. Please do not ever make financial decisions based off my research and opinions Find me on my other platforms - www.youtube.com Twitter - twitter.com Steemit - steemit.com
BTC Update Bitcoin looks like it'll be testing $6600 which is exactly where the 200 MA is located. Analysis - Volume is tapering off with the likelihood of the bulls testing the 12 EMA @$6407. - RSI Hidden Bear Div on the lower timeframes confirm that we will pullback a little. - I'm looking at a possible C&H going into play here which is a bullish pattern....
Hello fellow crypto enthusiasts! I hope you are all having a great weekend. So, the Bitcoin saga continues and as we know where Bitcoin goes generally the rest of the crypto market follows. I wish my analysis and my outlook in the short to medium term was not so negative but I’m afraid that it is. What I am seeing when I look at Bitcoin's price action is steadily...
This is the bearish scenario short term with BTC. I will be breaking the chart down through bullet points so that it is easy to understand. Note: My long term bearish scenario is still in play. You can find it below. - Pattern shows what looks to be a bearish pennant playing out. - Critical supports still stand at 6100s and 5800s. - Stoch RSI is showing...
Weekly Chart- I am basing this off BTC continuing to head down in the near future. This is what I'm expecting to see happen over the next couple weeks or so, an initial sell off of both but a gradual increase of BNB price vs a gradual decrease of BTC price. When the market comes back, I will have more value with my BNB compared to if I just held in BTC. Selling...