BTC climbed to 5500 last week and fell because it came to our big time frame supply level, marked between 5280-5665.
Market participants always work the same way, buying after a rally or selling after a huge drop. What we should do is actually the opposite, selling when the price is high and buying when its low, hence the famous phrase "Buy Low Sell High"....
So, here is how I see a potential fall of BTC dominance.
Right now it would make perfect sense - before BTC halving (which is next year) it would be perfect time for ALTS to shine.
First thing first i am very bullish on BTC and i believe BTC for long term. That doesn't mean it won't fall down much lower.
I am structure engineer and i like to look things from wide perspective. That means there is falling wedge structure here.(Falling wedge continuation pattern) And it can breakout 3 different ways for me.
1st: It can break this falling...
It has been a while since I post anything here and that is mainly because over a dozen of good charts I made this year had been deleted. Anyway, I am back because I want to give everyone a heads up that Bitcoin is fast approaching a pivotal resistance level where the market needs to decide whether to lift Bitcoin out of the pits or drill it down further. Please...
Bulls are still in business!
As you can see, BTC has moved back into the upward sloping channel after some testing of that ridiculous trendline (red boxes). Therefore indicating the bullish run might just still be intact.
However, in the event of a short term profit taking, we should be looking at some support coming in at both areas indicated by the yellow...
We are looking at a prior support turn resistance. We should see BTC retracing a little towards the support of 3948 before going up re-testing the resistance again.
Possible short term reversal of BTCUSD. However we are looking at an immediate resistance at 3916. If BTC is able to break the resistance, next immediate resistance will be at 3948.
A sweet Symmetrical Triangle , inside that a small up channel is broken downwards.
In my point, the market may enter up to a range of 3730-3830. If the market will move more down then we'll update the chart ASAP.
For safety, use SL because there is a slightly very small chance of moving over $4K.
Let me start by saying that I am not spreading FUD. What I share with you is an unbiased chart analysis of the worst-case scenario for Bitcoin based on historical data and technicals. As with all analyses, this analysis may or may not materialize so keep an open mind while you are reading it.
Reasons for this scenario to happen
1. The Elliott Wave counts...
Hi all,
I am coming with one more new idea. It is quite disappointing because my speculation is a mighty dip towards 3200 :( I can be very wrong and I wish my speculation should go wrong as I don't like these kind of dips, but still calling 3200 by March 17-19 Sanfransisco time. Enjoy and please kindly thank me if it helped you.
Thanks.
Hello everyone who is watching my charts.
Here we have BTCUSD in the 4 HR chart at 3:30 pm NYT today.
The reason why I show you this chart is the resistance you have to pay attention to
3909
There bounces BTCUSD straight off.
This zone has already led a few times to turn the market.
In principle, we are still in a long situation. seen at the bottom blue...
Bitcoin retested all the levels during pretty healthy price building if may notice, therefore, seems promissing at this point.
We are in fron 4h MACD bullish crossover on B on Stoch RSI which pretty much bottomed at this instance and provides significant gain right after bullish crossing as STOCH RSI bending upwards.
During movement analysis which pretty much...
Market appears to be weakening, longs are getting crowded and I don't see this holding for too much longer. I want a double top/ Truncated wave 5 more downside to come!
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Hello Lads and Ladies,
Welcome back to a TJ TA Session.
Lets take a look at XBT for today's update.
We saw yesterday a nice rejection at the upper bands, breaking the little uptrend that we have had. This rejection went exactly into our expected 3.6k region. Nevertheless, we closed on the trend as if nothing would have happened. This lets me to believe that we...
BTCUSD finally got interesting over with a break above the 4000 handle. With a buy pivot on the weekly charts and a buy pivot forming on the monthly chart, I'm look a long position around the the 3760 level.
My hope is that price pulls back in the buy zone around 3500 to get a better fill. This will confirm my previous analysis, with a target on the weekly chart...
