Buy when RSI bounces at around 35. Close at ~$6350.
Dear Coiners and No coiners, We have a bullish downward wedge forming in the BTC trend. The new low this past weekend invalidates the bearish descending triangle. The RSI has a bullish sentiment. BTC may go lower and if it does I will be adding to my position. Look for a late summer/early fall breakout. More regulation is coming into the space....
I think I may have underestimated the momentum of this bear market, taking a look at the chart again, the (A) wave in red could actually be the 3 wave correction from Ellitos wave and that would see the 3rd wave of the 5waves hit the 3k mark in 2-4weeks time (I guestimate, if not sooner). The white line is the faster approaching bear cycle down to 1.6k in cntrast...
So before I get started I just want to say I hope you are all having a great weekend so far. For today's chart, I decided to take a look at the bearish wave pattern Bitcoin has been forming over the last month. What I found was that both the drops and bounces I concentrated on are pretty symmetrical. I am using the 12-hour time frame and concentrating on drops...
Sell out? -Sentiment is at an all time low. -FUD is at an all time high. -Its an unregulated space. -The volatility is high. -Its unfamiliar. -It could be a bubble. -Its hard to understand. Scary stuff but to cut a long story short: Forecasting or evaluating Bitcoin prices based on fundamentals is silly since it doesn’t have any. When looking at demand-backed...
Bullish divs on macd and rsi. grinding against trend lines. falling wedge on whole chart...
Bullish divergeance on 2nd wave, 2nd wave grinding up against pattern top resistance... Rsi cupping up, if it breaks out can make for explosive move imo... long
According to 1 week log chart, there is endless cup and handle formation. Next stop: 60.000 $ by end of the year.
Friday printed the most bearish 1D candle (-9.99%) since March 29 (-10.61%), beaking February's 6,000.0 bottom. As posted since May 29, if 6,000 was to break, the price would be directed towards the 1W MA100 = first 5,627.4 and SMA100 = 4,565.1 in extension. Keep having the 2014/ 2015 bear cycle as a model to construct your strategy which should be selling on...
Welcome back my fam, Here's our current issue which we are dealing with in this market. Bitcoin is riding right on our resistance and support levels which is 'extreme' to say the least for crypto market. Downtrend below our long term support which has been valid since late 2017 will bring us much closer to further supports which are located at $5,150 , $4,450...
Just looking back over the past month and I am seeing repeated patterns. Interpret as you wish, just something to be aware of.
Ok, so in my long-term prediction I discussed the possibility of a falling wedge reversal pattern forming which I now believe is the most likely scenario at play. As you can see we are now expected to go up to around 6400 before retracing again. All these shorters are likely to get rekt very soon! Some shorters probably think we are printing a bear flag, however I...
Hi everyone, on the basis of my 7 months old chart I dont see 4k levels in play as you can see that down trend is play with pink trend line and Bitcoin should hold the blue long support trend. We should see 8k levels soon. Please like if you agree with it.
Bitcoin has a good 10% drop due to some exchanges and FUD. What's new. Im still optimistic (depending on how you see the picture) for $5k still - Watch for BO or BD of rising wedge - If we break BD (most likely) $5924 is my 1st target > $5723 - Overall, I am still bearish til around $5k - Im waiting on the side lines and not buying or selling - Tested .5 Fib,...
The bear market could reverse when bitcoin reaches long term support lines.
As per my last analysis – the symmetrical triangle pattern has played out. If we don’t go any lower, then we might be forming the purple falling wedge reversal pattern. This pattern sees us start to move higher (to around 6400ish – April low) before sinking us all the way to 5780ish where we have strong support. From here based on the height of the pattern, we...
Understanding Structure is key, where did bullish impulses start, where do we want to buy and where to sell. Be strict, we are in a bearmarket, take good stops and good luck! Trading the white lines for scalps is great!
Shorts are dangerous On the daily indicator double convergence Better wait for the release of BTC from this wedge In this situation I will only go with the purchases