Interest in bitcoin is low, BAKKT decision is postponed, volume is down. These factors creates a high probability of a price going down. trends.google.com
Personally, i am in favour of LONG on BTCUSD. so i am expecting more upside 1. Wait for it to break this line before shorting this bad boy (see chart) 2. Breaking this top will give good Momentum for buy. TP1 will be around $4400 and TP2 will be around $5100 (see chart) See previous analysis PLEASE SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
cup and handle forming at trend line???? going up!
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BTCUSD looks like it'll soon follow ETH in its bullish moving ways. ETH has broken out of an ascending triangle, after being bullish at resistance. BTC is painting a similar picture, and I fully expect it to do the same. The targets are highlighted above. We're looking good so far. Ultimate Target = $5500
This is what I expect BTCUSD to do to start the New Year off We are still quite oversold on macro timeframes, and this Inverse H/S everyone is watching is painting out like a work of art. This is what I expect to happen. In the event the price breaks through the neckline (~$4300), long the bullish retest and enjoy the gains up to $5500! Happy New Years!
Update for Bitcoin: The current state of Bitcoin is showing quite a lot of similarities than what we saw in June. Back in then the price already had formed a bullish divergence which many people believed would had lead to an instant upward movement. Instead it got rejected by the resistance level and retested the previous low level which lead to an upward...
This is a smaller time frame bullish continuation pattern that seems to be playing out. Look for a touch of $4200+ This recent move is extremely bullish. The macro inverse h/s is surely playing out with a bigger target of ($5500). Keeping things simple. Stay safe.
BTCUSD painting a very clear Inverse H & S pattern, on a fairly large time frame. A bull's dream in the making. All eyes on this, to see if it plays out, we're 75% through forming this right shoulder A target of $5500 in sight if this works out. Keepin' things simple Trade Safe, Happy Holidays!
BITFINEX:BTCUSD Multiple divergences at the daily time frame shown with the yellow trend lines. $3800 crucial support. If this breaks, we are going down. * Not an investment advice.
Shorts are at 42,000 a record high meanwhile we are currently sitting right above the 200 Weekly MA. Sentiment is extremely low but we must keep in mind that we are long overdue for bounce and with this many short outstanding and strong support nearby; it makes for a good set-up for bulls. As of typing we are at $3500, the next rally could easily blow past...
1. 9EMA crossing 20EMA 2. Bearish divergence noted in both RSI / MACD / Stoch Bullish. At least for short term.
With all these bear market it seems that bitcoin could be bulish short term. We have clear divergance in the rsi and a channel that seems to be at the bottom. What do ou think about this, do you see something else?
"The main purpose of the stock market is to make fools of as many men as possible." -Bernard Baruch If Bitcoin were around 100 years ago Baruch would have been more broad with his quote. Nevertheless it is apt to all markets. Before the last selloff there was much buzz on the Discords about a big move coming in Bitcoin. I do not subscribe to any of these...
BITFINEX:BTCUSDSHORTS
BTCUSD has retraced to Fibonacci retracement level of 0.236 (3684.46). This does look like a good place for the move up to around $4500. on the other hand a move down could push price down to around $3300 :( SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE