Watch out because there is a Williams Fractal pattern on 4 hr chart which occurred at February's low (white box enclosed in yellow box, current yellow box not yet fully formed) and may suggest Bitcoin may have found good enough support at $6,583. I've added some Fib levels as alerts to compare with same that happened in Feb.
Williams Fractal pattern found similar to one in February's climb from low. Extension 1.618 and 2 marked with red arrows could be useful targets to watch if market breaks low of $6,533.
Just an idea, but don't you feel like the trend is slowing down? The last few stages of the overall downtrend have been playing out between the regions of the last peak before 6th of Feb and the low of the 6th. Since then we've actually been moving nicely in a channel, reaching lows now. A cooling down period after a new ALTH wouldn't be unusual. a 6+k low...
Btc is approaching the mid line of the Downward channel. If it passes the mid-line it should see a fast sell off to the bottom of the bottom downward channel. We should see a Full Reversal starting when we cross any of the 3 lines moving upward. Hopefully we can enter the bottom channel, get in some good long positions, and start moving towards the new high for...
Bitcoin -2.89% price weakening. Didn't break $7,350. End of wave five now still to come it seems.
Elliot Wave 5 reached? Fibonacci targets reached? April Bounce may be coming? Bitcoin Death Cross over using at least the Highs? Watching if market breaks $7,350 wave D/4. On the 4 hour chart MACD bars divergence max is decreasing good sign. Stoch RSI looks OK. Bad news the weekend i.e. indecision/surprises. Has price found strong enough base? Arguments over wave...
If BTC completes the Double Bottom i am bullish AF fam
btcusd will it doesn't break that invalidation level, it will go up to the 23k area.and and drop to form new low is possible around the 4k area so just be prepared that
We have two long areas for BTC 6660(Bat D Leg) 6572(AB=CD D LEG) Stops should be 5900--5500 TP1 = 8500 TP2 = 9800 TP 1 is most if reached please carry your stops to BE. TP3= Can be trailed after TP1 is and TP2 safely cleared and if you can be sure about a uptrend forming
How to calculate next low with a bearish pennant ? I'm doing it my own way, not like in books $8,674.4 - $7,835.9 = $838.5 or $8,674.4 - $7,716.6 = $957.8 Then pick a measure from inside pennant. I'm going to take 50% $7,941.1. Therefore $7,941.1 - $838.5 = $7,102.6 or $7,941.1 - $957.8 =$6,983.3. I'd be happy if it just broke $7,240. In case of trap I've...
Will it complete 5 waves down? Timing of end of possible wave down is not indicated on chart. What you see on the chart is just for illustrative purposes. If trying to match the angle of decline in wave one, then I guess the angle for decline of wave 5 could have been a little steeper.
My personal vision and nothing more! Each trader has his own strategy and also visions of those. analysis.
Bitcoin still is not ready for up trend and growth. I think that will go up to 8800$ and after fall to 6000$ and will retest this support. I would recomend buy Tether (USDT) around 8600 - 8800 and wait for big fall. If you agree I will be happy when you follow me and my analysis. Thank you guys and have a nice day. :-)
Update. New retrace 50% = $8,631.6. Price for now couldn't hold above 20 MA. Media concerns perhaps about daily moving average crossover if you follow 50, 100, 200 MA's.... Have added fibs for a price drop. I've included a Fib level of $7411, but may take out low of $7,240 (end of wave 5?). $7,365 was just an arbitrary figure I've used from a previous calculation.
I'm not going to be following Bitcoin next weekend.
Chart ready for the week ahead, and end of the march.