I'm still not convinced that Bitcoin out of the bear trend until we reach the level above 42K. It also appears to me that bitcoin is following exactly the distribution of Wyckoff chart. miro.medium.com
When we compare the bitcoin price action with the chart, obviously we are in final part of phase D of the distribution....
Everything is in Graph, just follow the clouds and stay zen for now.
This analyse is based on Weekly TF, less noise and more clean movements, i just used only ichimoku cloud as indicator.
After bears tried multiples time to down TheKing under 28k and failed constantly, we could get soon a new green market.
Of course we could get a trap with a bad tricky news...
A Trading Signal is seen in the BTCUSDT Bitcoin
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 32850.0
⭕️SL @ 31890.0
🔵TP1 @ 35050.0
🔵TP2 @ 36400.0
🔵TP3 @ 39565.0
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As the graph shows, a potential bullish Head and Shoulders pattern is almost formed. Once it forms, and BTC breaks the neckline:
1️⃣ A small drop might be expected, as in many head and shoulders patterns
2️⃣ Prices will follow an uptrend to ~$38K which is our target prices zone 🔥
The pattern is validated by:
1️⃣ The Volume : it is ~equal on the two shoulders,...
Hello traders! This chart is on the weekly scale so this hammer might be a sign of a bullish reversal. Info on this candlestick pattern here www.dailyfx.com
Also would like to note, it appears we are breaking out of our downtrend line. The Bitcoin fear and greed index has been in extreme fear the last...
BTCUSDT seems to be at support right now.
On the 15 min TF, we have a very strong support of the 180 EMA.
On the 1HR we have previous support and a pretty decent bounce.
We might do a Head and shoulders pattern with a higher high in the middle, so I'm probably going to keep this LONG position for the short term.
ALWAYS PRACTICE RISK MANAGEMENT.
“What is Bitcoin? A hedge against fiat currency.”
In the last couple of days, Bitcoin was being traded in the range from $31000 to $32000 meaning that the buying power is declining as it has failed to show a significant move from a test of valuable support level at $31000.
As $31000 isn’t attractive for buyers , I can expect a break below this level which...
BTCUSDT trade has partially completed head and shoulder pattern and we achieved 8000+ PIPS exactly as I said. Now BTCUSDt will hit 26500-24000 yellow area then trade will be boost up towards its final target 47000-51000 which is shown by target for clear understanding. Just keep it in the mind, trade will go up for short term towards 78% Fib level to test the...
Guys remember one thing:
Elon Musk pushed the price under a critical support level and helped flush it down the toilet . That's when I unfollowed him from twitter
Today he has an opportunity to reverse things and push the price (finally!) OVER this cursed resistance.
How? By announcing some Good or Great news together with Jack Dorsey and Cathie Wood of ARK...
Target using this indicator is around 130K
Indicator is called "Top Cap" and "Average Cap"
Plotted the bear runs and bull runs also
It can be seen that the recent bear market was the longest for BTC
Hopefully inversely the new bull run (x) is the longest also
A previous analysis of mine...
Bitcoin - Intraday - We look to Sell at 33420 (stop at 34202)
Daily signals are bearish.
Trades with a bearish descending triangle formation.
Trend line resistance is located at 33500.
Bespoke resistance is located at 33500.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Our profit targets will be 31116 and 30516...
i am expecting same consolidation between 29k-40k for this month as we are holding on to a strong support and price likely to bounce from here but we closed below 29k this week next target would be 19k and if we continue to hold this support long entries here will be TP around 40-42k . also if we check some indicators RSI we can see divergence and stochs are at...
Hello my friends!
Bad news for bears! I have left myself a back door open in my last posts. I said: bitcoin could still go down to 24K. Also because we still have an open CME gap there. Given this chart and the findings from it, I now make a clear statement:
We had the bottom at 31K!
That's it imo. From now on, it should go up. I am therefore strongly bullish....
Further to our long video just a few minutes ago:
After yesterday's dramatic post (the drop was expected and it happened) and today being a NEW DAY with the news starting to become better:
Firstly, Yellen and the Americans 🤠 are 'Legalizing it, not criticizing it' because very simply the want to be the exchange in all this with their upcoming digital dollar...