So, the decreasing volume in BTC Daily Chart, RSI having bearish divergence played REALLY FAST but we have the major support levels marked.
Here is the detailed analysis of BTC I did on August 21, 2021:
Also in this chart below:
This is a follow-up from previous day BTC analysis.
From a daily timeframe view, we have seen solid red candle bodies with substantial trading volume backing it's movement.
From a 4-hourly timeframe view, we can observe short-term seller exhaustion.
As such, in the coming hours, we are likely to observe price retesting 48700 ~ 49300 levels.
Depending on the...
What do you think? Is it the turning point for Bitcoin Price Action or Bitcoin's Flight to the Moon is halfway? Comment down.
Here is what my analysis says:
1. Rising Wedge Pattern on Daily:
Starting from the start July 21, 2021, Bitcoin started formation of rising wedge - First one smaller timeframe (4h):
August Capitulation: Fractal taken from prior capitulation in March 2020, lines up with the Gann speed fan & prior all-time-high Capitulation > Cycle Top: The time between the two would be 12 months exactly which is necessary to qualify for long-term capital gains tax in the US Elliot Wave Theory: Remains validated Fibanocci Indicators: Circles, extensions &...
Looks like this is a possible harmonic in the making. The reversal zone should be around 31.5k. I would trade the FIB levels on the way back up but, there is a good chance that we won't see lower levels.
Could 28k be the bottom?
I mean, china usually bans BTC and then it pumps after that
There is a lot of FUD and many people are expecting a 20k btc.
Is it possible that china and the whales have already started buying btc back up?
Now to TA:
A lot of short term bullish indicators
We broke out of a falling broadening wedge which was caused by an inverse head &...
Looks like we have an inverse head & shoulders with 2 nested bull flags. I hope the lines make sense but it looks like a solid trade. You could use fib levels and wait for a dip but I think that we have a solid chance of going straight up from here.
BTC/USDT remains bullish on the charts as it picked up support from the lower price range while holding above 29th April 2020 low. If the price moves between the congestion area before testing and making a support above 0.786 FIB, a continuation on the up-side could be anticipated if the Trend Analysis is respected.
"Trade what you see not what you think" is one of my most favorite quotes even though I don' know the origin, The current market in its state is not a clear one just yet. My last analysis call for 40k is still in play, though I see some chance rising for The bull to attempt breaking the Current resistance of 60k but what are the chances of loosing money if you buy...
Btc pulled back from the major support and 0.786 fib now we have the above 59000 resistance but i think it will be broken now as bears haven't maintained their selling at major support. Looking forwards for btc towards 62000 and above than that
Hi guys btc is in correction as it formed double tops and didn't break it so now personally i think it will either retrace from 0.6 fib or 0.5 fib after that we will see the price moving towards the double top again breaking it and moving to the next resistance
Hope you enjoyed my idea
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