Bitcoin (BTCUSD) Weekly Forecast: May 11th - May 13th
Overview:
As we step into the week ahead, Bitcoin continues to exhibit signs of a bearish flag formation on the weekly chart, indicating potential downside momentum. The analysis considers a series of wave counts (a through e) within this pattern, with stochastic indicators showing a hooking pattern,...
As of December 6, 2023, ORDI was trading at $65.03, which was a 2.7% increase from the previous day. ORDI has also seen a 232% increase over the past week. The token's trade volume has also increased by 85% during this time, reaching $2.3 billion.
ORDI is a Bitcoin-based meme coin that has been following Bitcoin's price action. This means that if Bitcoin's rally...
A significant milestone has been reached. Traders alert that a crucial liquidation level, meticulously provided in October by us, has been hit. The result? A substantial 60% gain on our initial 1% entry, marking a noteworthy success for the trading Acct. As the asset in focus, Bitcoin, shows signs of potential further upward movement, but we need other retracement...
On 22 June 2023, we sent out a buy signal on Bitcoin. This was when it broke above the Falling Wedge...
The momentum was strong and so was the promising move.
We got in but hasd NO idea it would be such a long hold.
Unfortunately, the daily interest costs added up and the entry price went higher and higher.
But we held on regardless... The loss was quite...
What we are seeing right now is probably the best thing we could see for btc.
Healthy price action comes with corrections, as these corrections provide the nessecary support for the coin to continue higher.
And we can see this on the chart with our indicators/support zones.
1) We broke the local highs set for the past couple months. Great sign. Also a strong...
In my previous posts I mentioned we could very well see a move down the the lower green box I have on the chart.
1) Instead bitcoin found support yet again on the lower green uptrending line within the triangle pattern as you see here.
2) The green box in the middle previously marked a key resistance zone for bitcoin. Since we have tackled that zone and...
I see that Bitcoin rally take control now. if you want to accumulate more Ethereum, the moment to change Bitcoin it's now. Because Bitcoin rally will explode now and will take control of altcoins now.
Now, I will need to check my investment in Enjin Coin if I will need to sell Enjin Coin to get Bitcoin if Enjin Coin crash in front of Bitcoin ratio.
Guys, Bitcoin...
Bitcoin Has Entered Into Accumulation Phase, Confirmed By Selling Climax and Followed By Automatic Rally.. I Expect It To Form A Trading Range From Here (10.5k - 11K Range)..
Let's Wait For The Change Of Character In A Few Days Time To Confirm Bullish Bias.
Bitcoin So Far Has Maintained It's Bullish Momentum By Breaking 11K
As previously highlighted, Bitcoin has been making small decent effort to move towards testing resistance trend lines in a renewed bid to break above 10,000.
The 4H BTCUSD chart just showed a renewed effort with strength. The 4H MACD just turned upwards, in line with the daily MACD and technicals, and tested an interim trendline resistance with momentum.
IF and...
This is one of my favourite setups. Price made a clear stop run into the bullish 4 hour orderblock and then rallied up and took out the swing high, breaking the market structure to the bullish side.
Now all we gotta do is WAIT! Wait for price to come down to .618 fib and .705 fib, which would be a great R/R long setup targeting 6600 level
We are seeing bullish divergence on the daily RSI and macd looks as if it can push a bit higher. The key to this Technical Analysis is Elliot Wave, I see the fifth wave, which in theory shouldn't be longer than the 3rd. So Maximum projection at 0.41usd. Good luck!
Bitcoin, which is known for its wild price swings, soared to around $US6,650. It breaks the downtrend line around $6315. This downtrend starts almost 2 months from now and if Bitcoin can manage to break the 23.6% fib level at $6758.7 next resistance line will be at 7368.17 which is expected to happen in the end of the week and by the next week.
Volume : Since...
