CME contracts close today, hence the apparent drop in price. Trend seems fairly apparent factoring in the events/ needed consolidation Lets look at the larger trend/fundementals - thousands of companies are implementing blockchain - EVERYONE wants 8k (never happens when everyone wants it. just like the dip to 1800 earlier in the year when everyone wanted...
Bearish flag and head and shoulders have formed. CME futures expires soon. What do you think?
IMO BTC looks like it possibly has formed a double bottom or "W" shaped bottom, at least in the short term. BTC still has a lot of work to do if it is going to reverse the slide it has been in for over a month. To be honest, I can't say for sure that this is the bottom and from here BTC will only go higher. As I said, it may only be a short-term bottom just like...
On the daily charts, the bear channel is still very much intact. The volumes have been shrinking but kept alive by the $700 million USDT issuance in the last 8 days with another $100 million USDT issued just 10 hours before this post. Also, the next future expiration is this coming Friday Jan 26th.
BTC still in downtrend. Graph showing me it will touch 9085 in
For now, the bears are still in control of BTC, every time BTC attempts to bounce back it is met with more selling. IMO BTC is heading down to the $8000 area as I laid out as a possible scenario (#2) in the Dec. 23rd chart that I published. When you update the chart you can see how the price broke through long-term trendline #1 then came back up to retest it...
BTC is still in the ascending channel (lower section) and has been bouncing off of my long-term trendline. Ascending channels typically are a short-term bullish pattern that often forms within long-term downtrends as a continuation pattern. BTC was in a downtrend when this channel first formed but I wouldn't necessarily call it a long-term downtrend so I am hoping...
Picking up on general trend here. Bitcoin, prior to previous runs in the past year, hasn't stayed in the ichimoku cloud for more than 10 days. Estimated time time for BTC to break resistance and start bull run: ~Jan 26-Feb 02
Who knows what's going to happen w/ bitcoin? What do the indictors are trends say? We will see moving forward on our journey to a total 1 trillion dollar market cap, and 17K+ bitcoins.
BTC is clearly trading in a rising channel, I had previously published a chart showing BTC forming a rising wedge pattern but I really should have given the pattern more time to form before publishing that chart. The pattern has progressed to where it is definitely a rising channel. Rising channels although short-term bullish, often form during downtrends as a...
I hate to be negative but it looks to me like BTC is forming a bearish rising wedge pattern. As I have said before long term I remain very bullish on BTC. A Rising Wedge typically forms during a "reaction rally" following a significant downtrend. Because of that, it often results in a downward break and a continuation of the previous downtrend.
Yes I know, the thumbnail chart is hard to read because so many different levels are shown, so here is a split up view of what the chart shows. Fibonacci Retracement Levels showing that every time we have dipped over the past year we have had support at .5 fib level or .618 fib level, and reversed after hitting one of these levels. Fibonacci Levels showing that...
Right now, it is testing what has become the major support line, which was the major resistance line for all last year. It should hold, or at least, it won't break easily. The numbers we're seeing right now are normal, and it's tested that support multiple times now, and not been able to break it. If it does hold, the implications are staggering. Bitcoin...
Bearish Head And Shoulders Pattern Bitrex Bitcoin/Tether Chart If NeckLine BreakDown I Think Exit From The Market Entry Level Fibo.. 50% / 61.8%