This chart shows the major long-term patterns involved on Bitcoin and how it is currently at the tip of the first Support levels. ** The 1st Support Level ** Right now the price is testing the 1W MA20. In fact every 1W candle has successfully closed above the 1W MA20 in the past three weeks. If broken it would be very negative as the past two times that...
BTC has opened Monday lower as a result of the continuous selling pressure on the stock markets. This is the natural psychological against the threat of rising COVID cases and the inability of the economy to withstand a potential new lockdown. The price is therefore currently about to test again the Higher Low trend-line of the 5 month Channel Up. A few days...
Currently BITCOIN has printed an elliot wave corrective structure which is the double zigzag, as we can see on the chart, the first zig zag was clearly identified and label (W) followed by the correction (x) then the last lag came into play which we are not yet sure id it has completed its own zigzag. So All in all bitcoin we soon resume the bullish trend...
I know the title is a little bit catchy but what is says seems not to be far from the reality. This is a combination of studies I released in the past and it clearly decodes every Cycle High (practically the All Time High) and duration. Who wouldn't actually want to know when and where Bitcoin's next Top will be? For the record this study is based on the 1W chart...
Yesterday I looked into the importance of the 1D MA50 and how a potential test can affect Bitcoin: That made me go a timeframe higher into 1W and search for clues on its own MA50. I found a very important cyclical pattern and I want to share it with you. As you see during each of BTC's Cycles, when the 1W MA50 (blue trend-line) breaks above its All Time High...
Sitting on top of the 15 min 200 MA Maybe give it a bit longer, the RSI is starting to pull up after hitting bottom 3 times on the way down.
So it appears that Bitcoin successfully defended all possible Support levels, both the Higher Low trend-line of the 1D Channel Up (chart 1) and the 2 year bearish trend-line (chart 2) as seen below: If you think that was the easy part, you are mistaken! BTC traders have to reclaim the 1D MA50 (blue trend-line), in order to attract back the short/...
As a follow on to the last analysis we can see that BTC is now above the GC (Gaussian Channel). On the LMACD we can see where the grey arrow is that it is about to bounce or crossover to bearish. We know from our previous posts that when the EMA 10 (in blue) is above the MA 21 (in orange) and BTC doesn't trade under the MA 21 on weekly chart, BTC is in a bull...
we are anticipating some downward action here traders who leverage trade should go short
In my opinion Bitcoin is on important cross-roads. As you see on the current 1D chart, the price just made a technical touch (and is currently rebounding) on the 2+ year bearish trend-line (seen in blue) that has been holding since the end of the previous Bull Cycle (December 2017 All Time High) and which recently broke (July 2020) upwards. Typically such re-tests...
BITCOINS FUTURE PRICE IS VERY CLEAR!!!
CLEAR TO MANY SHORTS ARE SHORTING AT THE LOWS, WE NEED SOME LIQUIDATED SHORTS BEFORE FURTHER DROP. 10600 FIRST TARGET. IF WE CAN HAVE A SR FLIP AROUND 10600 THEN WE CAN HIT 10800 PRETTY QUICK BEFORE A NICE SHORT OPPORTUNITY PRESENTS ITSELF. FOR NOW IM LONG FROM 10295. LOOKING FOR 10600 FOR EXIT. I HAVE A SHORT ORDER AT 10600 EXACTLY FOR A SCALP . THEN WILL SEE IF...
I will be quick on this one and will just state the fact. The Bollinger Band Width (BBW) on Bitcoin, which measures the degree of volatility on the market is testing the lowest ever reading, going all the way back to March 2016! That is on the Monthly chart, in order to account for all three BTC cycles. As you see every time BBW hit a low (December 2012 and March...
XTZBTC has been one of the most consistent pairs throughout the year 2020 so far. So consistent, that in fact helped me calculate the exact top and take a sell position and hit the target with surgical accuracy as you can see on the idea below: Now I believe it is time to start buying Tezos again as the price has made successive 1D closings above the (blue)...
You should have noticed by now that since the September 03 drop, Bitcoin has been consolidating around the $10000 mark. But what may be of particular importance, is the fact that this consolidation never closes a daily candle below that (10000) level. Can this be a coincidence and if not what does it tell us? Well to answer that, I looked into the previous big...
Bitcoin is currently consolidating, marginally breaking the $10000 barrier, but yet haven't made a daily close below it. This idea will surely give a confidence boost to buyers even though we shouldn't rely on it as the fundamentals at the time were different with surprise news break-out, and I will explain myself straight away on that. The fractal from October...
The title may sound a bit dramatic but it is true. Bitcoin is on critical crossroads as it maintains trading within the long-term Channel Up formations but any break lower endangers the effort made after the COVID flash crash. ** Two Channels ** As you see on the chart, there are two main patterns involved: The Primary (blue) Channel and the Secondary (orange)...
Waiting on Bitcoin to reach pivot point to decide whether I will buy or sell. I'm thinking price will keep rising once it reaches the pivot point, but we're gonna wait it out and see what happens. If price keeps rising from the pivot, I'm predicting price to reach at least 11770 where I have my resistance line plotted. If any thoughts leave them below!