I hope the markets have been treating you well and you've been crushing all of your trades.
In today's post, I want to give away a chart that has made me a lot of money dating back to 2016.
I also want to go in to detail on how I use the RSI to determine when to get in and out of Bitcoin by determining...
This analysis is based on a very distinct short-term pattern that Bitcoin seems to be following throughout the July - August consolidation.
As you see on the chart Bitcoin is trading within a 1D Descending Triangle. Clear support (9100) and a Lower High trend line. That alone calls for a new Lower High target within 11400 - 11800.
What stands out though even...
We can see up trend
Last two month we moving in up trend channel, we already touched resistance line of this channel and now forming symmetrical triangle. Altcoins start moving and BTC dominance can go to first support line. After that we will observe whether we break the support line or not. But we must always remember the blue magnetic support line. Even if we...
Bitcoin (BTCUSD) continues printing higher lows since it hit ~$9,450 on the 15th of August.
The first peak was hit at $10,955 on the 19th of August. The retrace resulted in a higher low and there is the potential for a move up from current levels.
Now, Bitcoin can easily move lower here as well since we are looking at bearish indicators and its price moving...
Lets put it at this
in mid 2017 the rumors of CME futures drove the price up
However when CME futures were confirmed late 2017
Now in 2019 Bakkt futures rumors drove the price up again
along with Chinese Plus Token Ponzi Scheme Participants
Now here at mid 2019 Bakkt futures now confirmed
Will it be different this time?
Here we have BTCUSD 4H chart.
Previously we had these two specific directions in update 20 which are reached in a perfect way :
Now we have a shorter time frame compared with last ideas, But 4H have critical situation, So what are we watching here ?
Welcome friends and traders alike to this analysis on Bitcoin! We are going to do a little bit deeper dive than usual on what Bitcoin is doing and see exactly what the potential of what could happen in the coming months. Which is while we'll start with the weekly and I will post some other charts zoomed in so we can get a better idea of what is going on. The first...
Bitcoin has been in a corrective phase after topping at $13800 area in June 2019. The market is making a double three Elliot Wave corrective pattern which is yet to be completed. The price of bitcoin still has the potential to decline further to around $7500 area to complete the correction.
As you can see from the chart, the price is also trading...
hello. every one ,hope you guys are enjoying this rollercoaster of price bouncing in and out of 10000$ in Btc for the last 2 weeks.
Now following my last controversial post that am still backing up to see Btc fall below current price down to 200$ in next several months or so we look a little closer into our last sightings of 10000$ highs like we said good bye to...
BTCUSD WEEKLY Chart Analysis
It has just come to our attention that Bitcoin is in EXTREMELY close to initiating a death cross on the weekly MACD. Last time it death crossed like this, Bitcoin put in a top at 20k. This could signal a move to the longer term support, right now around 6500-7000.
I identify a closed triangle in ABCDE pattern from point three circled (point A level doesn't to be break).
It means we should finish the bearish time and start rising again (last wave 5 in circle).
Let see what happen.
PS: it's not a Financial Advice.
Looking at the weekly chart we can see that the weekly trend is forming a large triangular pattern.
This is clear as daylight seeing that we did not break the 13.7K region while moving upward and the momentum is slowing down.
The decline may be sharp so the time frames will differ if it falls steeply.
That means, the next leg down can be seen in early December...
noting a few points where the volume has dropped to sustained low averages, we can spot a trend of significant price action response with the return of significant volume.
leaning slightly bearish on the short term for btcusd as alt coin volume is an outlier. alt coin volume was drastically lower over all of the time captured in this view until the last few weeks.
Most of my TA can be seen on this chart. Just like to add that we are in a descending price channel that has a bear flag within this channel. What this tells me is that we are going to be bearish before we return to a bullish move (price channel).
We may not reach the bear flag target but we will be testing supports on the way down imo. The first...