Very strong short signal this time people. Bulls are finnaly about to get a load of reality. It is what it is and we can profit on this. After a year of waiting we have come to this point were the price can no longer support itself any more. The magic 6k support about to get broken and this time it's gonna be real ugly. targets are 5.5k/5k/down around 3k.
12 h chart-btc has 2 bearish patterns, head and shoulders continuation and a rising wedge on the right shoulder with bearish divergence on stoch rsi, sell levels 6740/6800 and 6900/7000 targets 5200 and 4900 (couple of weeks )
Just take a look to previous pattern on May, 23 day of downtrend and -28% drop, price formed a bearish triangle with flat top rising bottom (13 days, pattern inside the circle) and had another drop of -25%, also look at the RSI levels they look just like now, and facing same RSI resistance at 50. A drop of -25% will lead btc to $4930
We are showing a strong trendline ranging back from 2015. Each with strong bounces (highlighted) every-time it touches the trend line. Eventually beginning of this year, BTC went parabolic. Looks like we need to retest the trend line for another strong bullish move back up. There is strong support for this down move with the Macro H&S forming at the current...
As per previous analysis on 28 July 2018 we predict that BTC will hit its top channel line and will go down for correction breaking its support line to its next strong support line at 6864 and it is currently on the way towards it.
Taking a longer term perspective on this one, using the weekly candles, reality sets in as i put on my bear glasses.
Historically, BTC saw an almost perfect recovery on the 50MA twice as highlighted in the green boxes, however, printing lower highs, and finally failed its 50MA support in May, resulting in further downward capitulation. For all those bulls out...
Hi traders as you can see, we had a little bounce due to a engulfing bullish candle, but so many bearish signs have been following:
- Volume decreasing. The volume have been decreasing since the bounce, every day the volume has been lower than the prior candle volume while price has been going up, which is a quite bearish sign, indicating that the bulls are...
As we can see the price fell back under the downtrend line. Sign of Bear trend
A weekly 20MA is showing downtrend too (not shown in chart).
We can spot possible trend reversal zones.
Fib 61.80% zone (7900-7800$)
Fib 78.60% zone (7300-7200$)
Uptrend line of the triangle. (6800-7000$)
The breakout of 8167$ level (fib 61.80% of major fib retracement) could be a...
Looking at the Fib overlays, BTC is moving around the .5 and finding resistance at the .618 range in the more immediate trend and in the longer range fib.
Applying the Fib time zone we can see that from the formation of the high at Mar 5, the next two segments of the fib trends are a repeat of itself, there are double bottom adams that repeat in zones 1 and 2,...
Please find my update.
I have given the same to my friends in Telegram and now in TV.
We are in the range bound after hitting $11700 mark, the way it was bullish at $11700, we thought it would take $12000 easily, but the market is supreme. Price was pushed down, so the current range is between $7200-$9500.
$7200 is the long-term trendline,...
I had previously called out for an Elliot wave inside a channel and a corresponding cup and handle formation. It seemed we were on track to fulfil my targets - we did have BTC pierce the 100 and 200 EMA a few times but it was finding strong support on these averages and the corresponding fib level - 78,6%.
Lets not talk about the past, dwell on the past as it...
Hello crypto trader , here we have my vision of Bitcoin correction
the lenght of the flagpole and the level of the 4th wave pervious junior cycle show us the next possible bottom
tomorrow i will write the details
If we calculate the total move as a macro wave 3, starting from the bottom of the Mt gox collapse, $140ish on Coinbase, to 20K, we can find the fib retracement levels of this entire Wave 3.
because we are now assuming wave 3 is done and wave 4 is in place AND this is a macro wave 4, we have many more weeks of bear activity.
Considering a macro wave 4, it would...