Price Action: Bitcoin took a large dump after establishing a new AllTimeHigh @ $62K. It has found a temporary bottom at $53K, but is still at risk of a larger fall unless we start to break some resistance levels to the upside, including the 200MAs, the upper end of the ascending channel, and finally the 61.8 Fib.
Patterns: There is an...
Price Action: Bitcoin continues to inch slowly, but surely, upwards towards the AllTimeHigh of $58.4K. In fact, price came within a couple hundred dollars of the ATH. The fact that price is retracing but not collapsing from the retrace indicates that so far there hasn't been a major rejection from that resistance level and that we are likely...
This Diamond formation in H1 will likely surge the price violently weather up or down, bets are open I go long personnally.
Safe trade, don't bet like me and wait for breakout for confirmation.
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Price Action: After dropping 28% from a high of $42K to a low of $30.4K, BTC rallied 20% to $36.5K where it got rejected by the 200MAs and has since showed continued weakness trading under the 200MAs.
There are two potential trade setups that could develop and we can wait patiently to see if either setup gives us a good trade entry.
Scenario 1: False Breakdown at Horizontal Support
In this first scenario, we are waiting for price to hit the horizontal support @~$21800 and then bounce back up.
Confirmation criteria for entering a long position:
🌊 Elliott Wave Theory from a macro perspective shows a rather interesting results.
🔹 If we start wave counting from December 2018, then in the summer of 2019 Bitcoin completed 1st wave of the new super cycle.
🔹 Following ABC-correction ended in March and now BTC is starting the 3rd wave formation.
🔹 Wave 3 consists of a 5-wave smaller cycle, where each wave...
🔸 In truth, I am not a fan of technical analysis, especially trend lines. Therefore, me personally take this idea with a sound share of skepticism. However, I could not pass by such a classic example with false breakouts of the channel boundaries.
🔸 Two deviations from the trading channel attracted my attention. Such movements have one goal - to collect your...
To begin with, we take a technical analysis, it in this case indicates the possibility of continuing growth, at least to 10k5$ 11k$. Where is the upper resistance line of the medium-term “Channel up”, how soon will we see the price there? - I think that in the near future everything is possible, and technically we still have a bullish situation!
The past 7 weeks have been green candles fully recovering from the big drop in early March.
Price is now testing resistance against a downwards trendline
While MACD is up, Ichimoku Cloud indicator suggests downwards pressure. Price is inside the cloud, suggesting lack of clear direction. Cloud future is red suggesting bear sentiment. Tenkan-san line (blue MA)...
4 hour, 6 hour and 12 hour time-frames suggest price needs a bit of consolidation, before resuming the higher time-frame momentum of the 2 day, 3 day and weekly. We'll publish a high time-frame view as follow up.
This is Immediate short term analysis on BITSTAMP:BTCUSD
All i am seeing is more consolidation Withing this tiny triangle formed on 4H-TF .
1 .In First Case We may test, hit our previous high 's near 6k, reject and come back rapidly for more consolidation within 4800-58xxk ranges which actually the ranges of the triangle if we fail to find...
Bitcoin droped to the 200 Weekly EMA and it acted as the major support and Holding the Bitcoin price, it crashed very hard and what will happen next, Exactly nobody knows!
What the chart says is there are three possible price scenerio may occur;
1. 200 Weekly MA & EMA will continue holding the price above 5,500$(MA) level and 5800$(EMA) then it will make a...
Hello crypto friends,
Bitcoin has shown strength recently breaking the 7.6K resistance and reaching the 8K level where met sell pressure from the bears. Now BTC have to cool down and gain fuel for the next impulse wave to the upside.
To claim that the breakout is legit , BTC needs to test the support line at 7.6K and break through 8K with next targets at...
Hello crypto friends,
Many of you have probably seen well known "Psychology of market cycle" chart where the disbelief stage precedes a new cycle. In that case many investors usually say "This is a suckers rally" . Let's figure it out.
Analyzing Bitcoin's sentiment in last months I see fear, greed and disbelief . Retail investors are hesitating to buy BTC...
Since the top of June we saw a clear correction to the previous bitcoin level. With the break of the 61,8 fib-level in the area of 7.200$ we confirmed a further downmove.
Some people say it currently looks like a doublebottom but i don´t think so. It was definitely a new low and we jumped back into a boring sideways zone.
If we want to confirm a bullrun we have...
Well... BTC wants us to believe that the bottom is in. We have touched the $7800 area plenty of times and it has refused to go lower -- which makes it look like a bottom. If this is it then the bottom is being built in the middle of nowhere which is out of the norm. There are a couple of places where it would make more sense to bottom out so I recommend we wait...