Hi all, as you can see we're close to crossing the middle line on the log chart. Previously crossing that line brought BTC to new all time highs. This time the divergence between the chart and RSI is clear. I can see BTC going to around 67k-68k zone bringing new all time high and then retracing back to 55k zone so the RSI can cool off for the next pump. After the...
BTC double top pattern has been confirmed ready for short
This is my thought about Bitcoin, not a financial advice
Looks like BTC may be trying to regain some of the ground that had been lost yesterday. We’re currently testing the local trend line to in what looks like an attempt to break out and re-test 39k and hopefully 40k.
BTC since March 20202 uptrend parallel channel, and it was breakout to 64k out of the channel and now we are still inside the parallel channel. And as per Jeffery from EW the price breakout from parallel channel that is wave 3, and this is exactly what happen, and once price back inside the channel it is wave 4. So far is not breakdown from the channel and I am...
BTCUSDTPERP Long position. After nearly 2 weeks sideway, does BTC will change to the uptrend in short-term? Let's see
BTC price action continues to adhere to it's bearish swing trend. Although we have seen flatter swing trend than before, price action still passes through it's support level of 34,800; thus forming a lower low 4hourly swing pattern. The retracement wasn't ideal as price did not retrace back to above 40,000; thus forming a lower high 4hourly swing pattern. Trade...
Previously, we successfully shorted Bitcoin from 55,700 to the mid 47000s, but now, BTC has shown enough to warrant a cautious long. 1. The 270-Day regression channel has created two tops and three bottoms (17 December, 27 Jan, 25 April), and a pattern of such duration and strength must not be taken lightly. 2. CMF was showing significant bullish divergence...
The rally is over and the bear market has been officially started.
Firstly, this analysis is based on a weekly scale. The short-term price may fluctuate as we have been seeing these weeks. Today I don't want to focus too much on others indicators. I will be looking ONLY on price action, supports/resistances and moving averages I still considering Bitcoin bullish for the followign reasons : 1) Price remains on top of all major...