After checked in high timeframes, seems that bearish trend is not over, we can easyly see in chart Wyckoff's Distribution pattern about to start Phase E, so i checked older supports/resistances for this analisys and there is a pivote zone between $10,700- $10,450, so i expect BTC reject this zone with to much strenght creating long tail candlesticks.
Due to the presence of a gap in 29,000 and the existence of divergence and the formation of an ascending price action pattern, the probability of ascending to close to 28,000 to 30,000 is high.
Evening everyone!
Hope everyone is holding up well amoungst what has been going on the charts.
Let's get straight into it!
Let us know your thoughts below!
Given the existence of almost; 1600% increase There is always a 1600% increase from the floors in the weekly analysis for a long period of 1 to 2 years. Note that the price is $ 220,000! This analysis is long-term and weekly
As momentum builds to the downside in the crypto space the likelihood of a flash crash capitulation increases. Not to say it will happen... it is still a highly UN-likely event, but the probabilities increase with downside action like what is currently occurring in crypto. If you a long term holder and NOT buying on margin , buying a hard sell off in flash...
after recent big down in btc price is near to important demand zone on the weekly and monthly and i think we have new reaction there
18700 and 19000 is very important zone '
we wait it ...........
BTCUSD Is undergoing sharp downsides, this on the left can be observed to repeat touches along the top / middle of the channel
On the right is a fantastic observation of the 4W chart for BTC showing a horizontal that touches two places of the previous bull and bear run. We can then use this price level as an area of support.
14K lowest, 20K great entry, fire sale
Everytime Btc has hit the 200ma on weekly chart it has moved upwards, but it went a little under the 200ma before, but it goes upwards afterwards. Let's see if it will do the same this time.
Given the monthly candle and saturation of RSI and Price Action, it seems that the price of $ 20,000 is the price that smart money enters the market. Note that this monthly analysis may take several months and is suitable for large and long-term investments
BTC is almost done with the biggest correction ever
just need 2 more waves or go directly to the 31600 and break it
good luck everyone and be ready for huge bull run
