Big parallel channel since the beginning of bull market with multiple touch points + fibs. Right now the 50% pullback is closer than ever which means down to 8500$ and closing the CME gap that's left.
At the moment there are no major changes in the market, step down and touch the MA50 chances are still great. Going below the MA50 for the current period will be difficult, for now hour timeframes demonstrate a slight opportunity to jump, but this does not cancel the global move down. If the MA50 is broken and the price locks below, it will be a bad signal, the...
BTC just completeed wkycoff accumulation on the 4hr chart. This current dip was the spring in wykcoff schematic, where the retail traders long positions stops are hunted and bear trap for the shorts. I expect BTC bounce from here, this would be the wave B of the zig zag of the Y wave in this whole corrective structure from 20k While everyone was bullish on the...
We broke out of the correction trend Bitcoin has started 05/21 however we are still inside the retracement line from 10k so the bull run to 7420 USD this morning was good but we are still in the retracement trend where I still see some room for downward movement but this will be a small downward movement to 7180-7250 USD after which we should be exiting the...
Here I present the case for the bulls and the bears using 12 hour candles. We are currently range bound in a hold-your-position or no trade zone. (Yellow Triangle) This will play out by the end of the weekend as it represents the end of the range. Watch for Fake outs. Bulls - Reasonable support established in the $7600-8000 range off the back of a c.60% up move...
thinking this might come true. the final exhaustation before going up? Catalyst would be portion of the 35k margin longs on bitfinex closing or getting liquidated. It could get really ugly.
BTCUSD is still in downtrend. The price made a correction wave and now we expect a new wave of falling to level 7250. If the price breakdown 7200 next supports level are 6500, 6000 and 5700. Glossary of terms Point of Control (P O C) – The price level for the time period with the highest traded volume . Value Area (V A) – The range of price levels in...
Bullish AB=CD pattern in 1HR chart.
Everything mentioned in the chart Best of luck
hi, BTCUSD, i think retouch ~3950 and later up to ~4800 OR now up to ~4800 Be lucky;)
Why not form a cup here. This China FUD caused a good dip and it had alot of volume. So maybe the bears are exhausted. There is also a bullish divergence on the RSI. Lets go.