This one is for the believers. Not for the average person who said in 2010 "Bitcoin is at $0.05 it can't make a $1 move in a single day, are you crazy?" or in 2011 " Bitcoin at $2 and you think it can move $100 in ONE day??" or in 2015 "We are now at $200, which is 1000 below the $1200 All Time High and you are telling ME that Bitcoin can move $1000 in ONE day??"....
I see a lot of Bitcoin buyers/ holders panic with the current 2-day pull back. They shouldn't. This (so far minor) decline is far from alarming. It is still technical so far within the range of the 1D uptrend but now outside of the 1D Channel Up.
This Channel Up is not illustrated on the current chart as I've chosen the 1W time frame to best explain the current...
Let's start of with the obvious. That is Bitcoin currently testing the 10,450 - 10,500 Resistance zone, the level that I called months ago "President Xi's level" as it was caused by China's President Xi comments on Bitcoin and the Chinese involvement on Blockchain technologies. It goes without saying that it is an key level and the volume will so if it can break...
After analyzing the price action on the short term , I want to bring to your attention an interesting analogy: Bitcoin's Cycle on the 1W chart since the December 2017 top versus Silver's Cycle on the 1D chart since the September 2019 top.
As you see the similarities between the two fractals are striking. I know the time frames are different but serve well enough...
Morning Traders,
Out position has the profit of 332.6USD.
I did move my SL to 9951.3 level (just bellow 50% of the long candle).
We have support at 10007.0 level. Position remain open until price break level of 10007.0 because momentum remain very strong.
Let’s wait and see what will happen next.
Cheers,
Jim
After yet another analysis which I looked into Bitcoin's longer term bullish dynamics and how the Ichimoku Cloud just gave the strongest Bull Signal possible, I have switched back to the short term. This study is focused on how the shorter term levels can impact the trend.
** BTC is full Parabolic **
Well that should come as no surprise, BTC is on a parabolic...
Morning Traders,
JP Reversal shows that price will go higher. For the passed three candle price rises, then it is time to open long position.
Momentum rising as well. We have additional support at 9700.00 and we have free road to 10,000.0 which is about 200USD.
As soon as price break through critical level of 9866.7 then we will open long position.
TL3 will ...
Morning Traders,
JP Reversal shows that price will go higher. For the passed three candle price rises, then it is time to open long position.
Momentum rising as well. We have additional support at 9700.00 and we have free road to 10,000.0 which is about 200USD.
As soon as price break through critical level of 9866.7 then we will open long position.
TL3 will ...
If you haven't heard of this one before, it is because this signal is so rare. I will focus this study primarily on this (Ichimoku signal) and to a lesser extent the MA Crosses on the 1D chart.
** Ichimoku Cloud turning bullish **
As you see on the chart the roll-over/ switch on the Ichimoku Cloud since the December 2017 All Time High (ATH) has only happened...
Morning Traders,
We do have accumulation of the price. Strong resistance at 9500.0 and strong support at 9211.0.
This is the second time price try to break trough resistance of 9500.00. TL2 secure possible price drop.
TL3 was broken up by previous candle, but not with strong. momentum.
We have possible long position when Doji will be engulf (by highest price)...
Morning Traders,
We do have accumulation of the price. Strong resistance at 9500.0 and strong support at 9211.0.
This is the second time price try to break trough resistance of 9500.00. TL2 secure possible price drop.
TL3 was broken up by previous candle, but not with strong. momentum.
We have possible long position when Doji will be engulf (by highest price)...
This is a long term study on Bitcoin's historic logarithmic chart. My goal is to time the next market top/ All Time High (ATH) using one simple factor: the progression of each Bull Cycle.
I define a Bull Cycle from the lowest value of the previous Bear Cycle until the next peak/ ATH. We therefore have the following Cycles:
* 1st Bull Cycle = November 2011 -...
Note : please check my roadmap, this is related (link attached below!)
Plan : wait for price to bounce off key resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting...
Bitcoin broke above the $9300 level and with Higher Highs and Higher Lows seems more bullish than ever since the June 2019 top.
In this brief study I will name two conditions which in the past two years never failed to kick-start a new Bull Rally.
** The 1W MA20 **
Since the All Time High (ATH) of $19800, Bitcoin used the MA20 (yellow line) on the 1W chart...
Just something quick to came into my attention while I was comparing Bitcoin's 2014 - 2017 Cycle to the current one.
** The High Volatility Zone **
Initially I was looking into the High Volatility zone, which as you see on the chart is the orange Rectangle which is roughly within the 0.382 - 0.618 Fibonacci retracement level from top to bottom of the Cycle....
