Based on trend lines and market sentiment there are 2 scenarios:
1. Less likely - Bitcoin can go up to 8400 following the uptrend line formed by higher lows
2 More likely - A panic sell may occur leading to drop arround 4500, where the falling wedge resistance is formed
Eather way 8400 is going to be the most stronger resistance for the bulls.
I can see BTC in a descending triangle, ABCDE completed, Stoch RSI crazy and people still scared of investing. Also, I can see previous supports now resistances.
If you check my previous post of LTC, I can see it falling, so it’s probable all coins fall.
What do you think?
Don’t trade according to this TA. It’s just an idea. :)
BTC has finally broken out of that range we were stuck in for 2 weeks and has moved rather quickly to the 50%FIB, which coincides with supply zone. Bullish sentiment seems to have returned to the market as almost all altcoins together with BTC have surged over the past 24H but Bitcoin has hit its first test since the range break. We need to get above this area for...
There is a great trading opportunity to buy in BTCUSD..
Midterm Forecast:
While the price is above the support 4966.90, resumption of the uptrend is expected.
We make sure when the resistance at 8200.00 breaks.
If the support at 4966.90 is broken, the short-term forecast -resumption of the uptrend- will be invalid.
Technical analysis:
The RSI bounced from...
Midterm Forecast:
While the price is above the support 4966.90, resumption of the uptrend is expected.
We make sure when the resistance at 8200.00 breaks.
If the support at 4966.90 is broken, the short-term forecast -resumption of the uptrend- will be invalid.
Technical analysis:
The RSI bounced from the support #1 at 26 and it prevented the price from more...
The prediction that I made on July 17th of $BTC going to $8,500 (CHECK RELATED IDEAS) was fairly accurate with an exception for the count of wave 4. With wave 4 I expected it to retrace to near the neckline of the Head and Shoulder formation or 0.5 on the fibonacci retracement of wave 3, instead it came down to the resistance labelled as 1st resistance (CHECK...
MA120 still blocking everything
Daily Bollingers also blocking
Harmonic Pattern saying it's bearish
The objective of inversed H&S has been targeted AND rejected
Daily RSI still a bit high for me
Pullback to the long-term support has been trigered, now time to go back
Still in a bearish market
(sry, won't post my trade here for today. too lazy, but you...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.
Technical analysis:
. The RSI bounced from the support #1 at 26 and it prevented the price from more losses.
. The RSI downtrend #2 is broken, so the probability of resumption of uptrend is increased.
. Price is below WEMA21, if price...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.
Technical analysis:
. The RSI bounced from the support #1 at 26 and it prevented the price from more losses.
. The RSI downtrend #2 is broken, so the probability of resumption of uptrend is increased.
. Price is below WEMA21, if price...
So if we follow BTC correction trend from 10k to 5.7K it seems as if it has been forming a falling wedge pattern where we should expect a reversal happening as the downward trend is becoming compressed and a falling wedge reversal pattern indicates that the price should move to the price where it was at the top of the wedge which is 10k value however I would...
BTCUSD daily chat ///
I have already told you my idea that the downward trend has not ended. And I've published graphics about it.
An important support of 6425 was broken. The price is now at 6000 support.
If it breaks it goes to the 5400 and 4970 supports. These are important supports.
You can also see other support in the chart.
If you stay above 6000, there are...
Red lines: Monthly resistances
Blue lines: Monthly supports
It has broken down the most important support line it has returned two month before.
Opinions are strong that the falling will continue. Indicators are also negative.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the...
