Lookout for this bounce, and set your stops below the current lows.
This might be your last chance to sell before a multi year accumulation.
Remember, it's always better to enter a new trade with a clear head.
Trade smart & make some money!
After our incredible rise from $5760 to $8530, a correction was inevitable and healthy to sustain the uptrend. However, the real question is "how far will we correct?" Since having a healthy correction to the .382 Fib retracement level, the bulls seem absent. We've pierced the base support line of yellow upward channel base several times, but the price as managed...
We have just made a lower low of $7657 since this move upwards with high selling volume and broken our February trend line (GREEN LINE) confirmed broken on lower TF which was working as support now turned resistance.
We have horizontal support at $7400 plus the 30 EMA on the D TF which has been significant throughout this last bullish uptrend.
Our TD buy setup...
After reading Olszewicz's article on bravenewcoin.com and agreeing with his analysis I've updated what could be the bullish turnaround for BTC and possibly Wyckoff spring happening this summer.
Article here: bravenewcoin.com
Looks like $8300 support broke quite easily
Now bears are more in control
Support = $7230
Resistance = $7575
Things to watch for:
Next target is $7140 (1.618 Fib)
Hasnt broken the resistance trend
Below Ichimoku
BB are widening
Stoch = oversold
MACD = histogram is about to be +
The rising triangle which seems bearish
Today an update on 3 big players in cryptospace. I will talk about BTC, ETH and LTC, when will the alt-season start? This is my opinion…
Not so much TA today, I would like to make a point on how I look at this markets using BTC as the main coin of comparison.
BTCUSD:
First of all I want to start with the most important one, BTC.
So really nothing major has...
It was a long time since i post an idea on that great community.
I was really busy in the last months. I'm coming back and we are here to catch the best opportunity.
Now , the question that all traders ask is Where the BTC is going ??
First of all i would like to remember this post
I have shorted the BTC since 10000 and i have written about shorting on that...
Bull's are giving bear's another go by using the top of the wedge to bounce off as support, this has caused a rather volatile equilibrium pattern.
Another oversold RSI bounce just broadened the E.Q's range to a new low of 7430 with a bounce pushing back to the top of the pattern 7650.
A small bullish-divergence showed it self just prior to the bounce which was...
Btc is currently testing a very important support level around 7.5k is really important to hold for bulls or it's looking like another wave down to around 4.8k. Watch what btc does the next few days and enter a longer term trade.
This support is from all way back in jan 2018 so it's very important. If we break bellow it tells us that a high chance the breakout was...
Bitcoin $8200 mark did not hold
So now we have support at $7300 and resistance at $7800
Things to watch for:
1.618 has been tested, so watch for a retest or bounce
Either a descending triangle or pennant is forming (too early to tell on the 4 hr)
Overall scenario...I see Bitcoin and the market slowing grinding down from here until we get a clear bounce
As you know fibonacci retracement happens a lot in the world of bitcoin. The magic number we are looking is 0.618.
Currently we are at the 0.618 level again and if you look at the bottom of the image you will see that the RSI is very low and we have enough momentum, very likely we will see a run up.
Hello!
Technically a very nice setup!
Criteria:
1. Old consolidation box retest and this consolidation box created a very strong resistance which becomes now a support!
2. Fibonacci retracement level 38%
3. Round number bounce $7500
4. The major trendline retest and bounce
5 . After bounces - bullish "Hammer" candlestick pattern
6. RSI oversold and...
Today an update on BTC:
Everyone is waiting for the ETF decision at the moment. That decision will come between August 10th and august 16th. There are some rumours that the decision would be delayed to mid-September, let us hope that’s only a rumour.
Prediction before ETF.
-I expect that we will go further down because the bears have the momentum at the...
