My recent long term analyses on Bitcoin were focused on the $6000 region as a potential buy and more particularly the demand zone that certain Moving Averages (among other technical indicators) provided around this region. The first studies were centered on the 1D and 1W time frames (shown just below), this time I take it a step further on the wider 1M time...
This analysis is a complementary piece to a series of studies on combined indicators in an attempt to project where the bottom on the Bitcoin's current downtrend is. See the previous posts at the end of the analysis.
*The 1W MA Buy Zone
On today's study I start again with the MA Support Zone, this time on the 1W chart, which is illustrated by the MA150 and MA200....
The technical analysis is a simple method of market analysis,
but when we talk about BTC (especially BTC), we must look beyond standart trendlines, indicators and other instruments ot technical analysis!
What the TA show us?
In the last months we have strong downtrend and by the TA rules, we have to looking for short positions!
If we focus around these days and...
While this week's volatility has left may traders puzzled, as the rise at the start of the week is being corrected today with a pull back, there are a few longer term indicators that we may have been missing.
*The MA1000 and MA1400
First of all I want to point out the significance of the MA1000 and MA1400 on the 1D chart. Those have formed a clear Support Zone...
Great news for Bitcoin bulls as the Gaussian Channel has entered into green territory for the first time in 270 days.
During the previous Bull Cycle this event took place in January 2016 and was accompanied by the new bottom ($365), a price Bitcoin never saw again. What followed was a consolidation phase inside a Triangle pattern and on an Ichimoku squeeze a new...
It is normal for Bitcoin traders to panic when the Digital Store of Value (as Bitcoin is often referred to) posts a significant decline. There will always be those to go as far as to call new bear cycles or even 0. Facts are facts and all of them still point out that Bitcoin remains at the start of a new Bull Cycle.
What has this sell-off produced? Simple. It is...
The last idea discussed the implications of Bitcoin entering the Buy Zone of the Parabolic Channel and how this can turn into a potential Buy Signal near $6500 relative to the price action of the 2016 Bull Cycle.
This time I want to focus on the more...
As the new Bull Market progresses, Bitcoin has left few questions unanswered. One of those has to do with its historic tendency to touch the 0.17 Fibonacci retracement level before the Halving during its 2nd accumulation phase.
But let's take this from the beginning. Each BTC cycle is divided into 5 phases:
* After each All Time High (ATH) and market top the...
Due to the price difference on exchanges, a lot of the attention lately is being drawn away from what matters most. Is the worst over for BTC? Has the new bull cycle started?
With this as motive, I thought it would be productive to accumulate the strongest long term bullish indicators on Bitcoin. And I have come up with a combination that has never failed on its...
This is just a quick analysis of what this week's strong rejection can mean for BTC if indeed we are repeating the main fractal of the 2018 bear market.
First of all I am not a fan of this formation as we are comparing two periods under largely different parameters. The first was a whole Bear Market span. The second is currently only the start of the new Bull...
The big (relatively to the multi week consolidation action) decline came, catching many traders off guard as the 3 month 9,100 Support broke with stunning ease yesterday.
Even though we are not at 6000 yet as my last Bitcoin study presented as probability:
an...
Bitcoin has been consolidating since the June 26th annual High. This is not news. What is interesting though is how this price action on BTC can be related to the rest of the market.
During the previous Bull Market (2015 - 2017), Bitcoin and the Alts have had clear balance of power shifts. When Bitcoin initially attempted to reverse after the Bear Market bottom,...
Many try to explain why Bitcoin has been trading sideways for nearly 3 months stuck between 9100 and 13900. The answer may be simpler than we would expect.
Drawing the Fibonacci retracement levels from the December 2017 market top to the December 2018 market bottom we can clearly see that the current consolidation is taking place within the 0.382 - 0.618...
Sounds a bit bold but based on a combination of MA crosses and RSI action it is very likely to be true.
At the start of the previous Bull Cycle in 2016, following the market's final bottom, Bitcoin made two peaks. One before the Golden Cross (MA50 over MA200) and one after. During that time the RSI hit 90.00 on the first peak and made a Lower High on the next...
On this analysis I compare Bitcoin's two most recent cycles: the 2014 - 2016 and the current one 2018 - 2019.
What stands out is that even though they both followed the same trend line (i.e. after the peak the bear market followed, a bottom was made on the parabolic curve and then the new bull cycle gradually started), they tend to diverge at some parts, only to...
As I've said in the past I rarely give a short term projection here as the patterns tend to be too unstable with Bitcoin's volatility but this one is too interesting to pass by.
Technically the strongest short term scenario is for the price to reverse now towards 7800 as it is trading near the 8540 4H Resistance. However if that breaks then we have high...
In this study I compare Bitcoin's current consolidation around the 1D MA50 with the first two similar consolidation phases at the start of the 2016 Bull Market.
All three sequences run through the same price action: The aggressive parabolic run came to an end, the price crossed below the 1D MA50 and BTC started to consolidate within a Triangle pattern around the...
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