BTCUSD in big Elliot Wave channel, I expect Continuation of the Fall to support line (we in wave 3-4).
On chart you can see Blue Triangle Patterns, they are indicators of further movement. In case if Triangle Break Down - look at buy areas below and use money management:
First Buy area:
10500-11500 (buy 40% of free USD)
Second Buy area:
8200-9400...
BTC is clearly trading in a rising channel, I had previously published a chart showing BTC forming a rising wedge pattern but I really should have given the pattern more time to form before publishing that chart. The pattern has progressed to where it is definitely a rising channel. Rising channels although short-term bullish, often form during downtrends as a...
I hate to be negative but it looks to me like BTC is forming a bearish rising wedge pattern. As I have said before long term I remain very bullish on BTC.
A Rising Wedge typically forms during a "reaction rally" following a significant downtrend. Because of that, it often results in a downward break and a continuation of the previous downtrend.
So far BTC is slowly working its way through my resistance zone. Hopefully, we get another push higher here and it can break out of resistance. IMO this is the strongest area of resistance if BTC can break through and push above
$18,000 there will be much less resistance up to $20,000.
IMO BTC will face a big test through the next $1500 rise in price. It looks to me like there is significant resistance from about the $16,000 area up through the $17,500 area.
I believe if BTC can push above $17,500 and even clear $18,000 it will have built enough momentum to return to $20,000 in short order. I would also really like to see the volume building as...
BTC looks Bearish for the short term, the next question is, what price is it falling to?
I picked a couple zones i see BTC retracing to.
Smart idea to start setting low buy orders so you can catch the dip!
For the time being, we are in a short-term uptrend but IMO we are still at risk of rolling over and heading lower again. As you can see by the chart below (3rd chart), the price of BTC has, for the most part, followed on top of the 10 Day EMA, with only occasional dips below the 10 and 20 EMA during corrections. Typically the price has recovered and moved back...
On the 8th of this month, I published a chart for Bitcoin showing how in my opinion Bitcoin had pushed way too far above the moving averages and also the long-term trend line. I explained what I thought the price of Bitcoin would do in the short term, I expected either a sharp pullback or a sideways consolidation period which would give the moving averages time to...
Is the bottom in for BTC? Have we seen the worst of this sell-off?
IMO BTC needs to push through the strong resistance I see in the $15,200 to $15,400 area fairly quickly or it may roll over and head lower once again.
IMO a lot will depend on whether or not we get a second wave of selling from the US investors waking up and seeing all of this red in the crypto markets.
BTC is still down trending, BTC most likely is going to retest the recent low at $14,000. If $14,000 does not hold IMO could be headed to $12,000 area which would be about a 40% pullback.
Hi I see 18200 price level as a indicator of further movement!
Why? Because this level is 0.618 level Fibonacci of recent BTC downward move. Here we should expect breakout to higher levels (22000) or pullback to lower levels (15300).
Watch for price action in this zone (yellow).
Good luck in your trades!
Hey Everyone,
As I wrote you the price in the weekend will reach below 7K now at this rate it's still good to buy don't need to be greedy and wait to get even better rate cause you can miss the rate, the correction probably will be soon as you can see with the indicators.
and the support line is very close to the actual rate,
as I mentioned before at this rate...
It looks to me like Bitcoin is forming a Head and shoulders Pattern. Bitcoin has been struggling to advance much beyond $17,500. There is also the RSI is showing a bearish divergence. Long term I am still very bullish but we could be looking at a short-term top.
This is adding on to my previous analysis regarding this. I was correct on that, this is to follow. By following bitcoins previous correction we can judge how this one will play out... see my last analysis as well.
Based on bitcoins previous corrections we can easily and precisely find the location of our current correction. Although this is being posted prior to bitcoin reaching its ultimate bottom investing now would still be worth while. As you can see the next bottom point following the current, and passed correction is at the same angle. Thus a line is shared among both...
