Be wary, this almost 1k jump on the hour is just going to prolong Bitcoin's downtrend. Which is good actually... instead of us hitting sub 5k next week, looking more like sometime in May now. Which could signal stronger bounce back into the upside around 5k. Instead of a weaker bounce and possible continuation down to a 4k / 3k test. Not ready to get back into...
I won't be bullish on $BTC until we hit 5k regions. Today's green was a suckers rally. Feedback is welcome. If you find this information valuable, please drop a like. Thanks, Jeff
Its Going down from here..... Man AI luv a Good Bull Trap....
To be straight forward honest with you, I did not expect BTC to reach 7k before the major leg down. But there are two important things I'd like to talk about. 1. Notice how on the log scale we didn't even break through March's downtrend. Remembers me of the time when BTC broke through December's resistance on the auto scale, everybody was bullish and nothing...
Well, interesting and confusing movements from BTC. Is this a grand setup for a bull trap, which will set off the final decent to sub 6k levels, or has grand wave 5 ended, and the confusion as sign that BTC has reached bottom, and a market reversal is fueling up? Scenario B assumes we are now forming wave 4, and the bull trap is being set. It was clear that...
BTC found support at 6550 and bounced a little earlier than expected, I still believe we need to retrace to at least the 6400 wedge support (possibly to 6000) before we have a shot at breaking this long term downtrend. We now have a bull flag forming on the 1H MACD just crossed bull, RSI also bull. We might see a bounce back up to around 7k - this just seems to...
Just had this idea of big bearish Gartley forming. 4h Rsi bouncing off of short term trend line towards upper downtrend rsi line. 4h Macd heading towards trend line to touch the Macd-spike downtrend line on log chart (8100-8300). This would make a very big bearish Gartley pattern, which would lead to a big drop under 6k (I´m thinking it could possibly go as...
This looks like a bull trap after a retail breakout (0.77151) resistance. The trap is a clutch of sell orders ready to go in the 0.77219 - 0.77256 range. Sell in this range, 20 -25 pip stop. 1x and 2x targets are in range. Good luck Tim
Usually a rising wedge like turns out bearish when it breaks down from it. Let's see how far it can take us, seems to be trying to go towards the 50 ema (blue line above) Right now with how manipulated the market is TA isn't the best to predict movements. Which ever group that is controlling BTC is doing whatever they can to throw off typical scenarios.
Breakout or bull trap? Wait and see. Needs to get to 18p first.
Hello everyone I want to share what I'm seeing. I am seeing a head and shoulders development for several reasons: 1) It strikes me that this bottom bounce is not reflected in the wonderful ChrisMoody ´s indicator to find bottoms. Its show the bottom in GREEN. It's the first time in years that I've seen this. It would look like a bullish rebound without really...
OK, I know that my previous chart idea has been invalidated by Bitcoin's rally, but part of me is still suspicious that an almighty bull trap may be ahead of us. Why do I think this? Wave 3 on my chart seems to fit in with EW theory insofar as volume is high and it is the longest of the waves. My target for Wave 4 is a 61.8% retrace of Wave 3 on a projected...
VeChain now rebranded to VeChain Thor. Know as VEN now is changing to VET It is one of the most promising project in crypto presently. Which is why it grew from 2,200 Satoshi per coin to 81,670 in as little as 53 days. If you do the math, that is more than 36 times gain (+3600%) in less than 2 months. It ended the run on Jan 21st. Because of the...
Today should be the decision maker on whether we actually break out or not because so far we have failed to break out, not only at this junction but also previously. If this daily turns bearish we are most likely in for a return trip downward before going back up. So keep a level head, watch for a confirmation of breaking out or a confirmation of dropping lower....
Unlike certain 'pros' i've been in this TA game for 3 weeks, difference is they like to over shoot everything. I like to give a realistic target to things. Pros said we are in Inverse Head and Shoulders, where the break out would take us to 18k. I wasn't buying it for a second. I'll keep this short and simple, bitcoin will either bounce off the lighter blue...
so the daily has turned into an evening star and bulltrap. As for now the 200 EMA looks like strong support, but because the dailycandle is an evening star the next few daily candles are going to be red. That's why I think it will fall through it the wave to the bottom of the trend channel didn't go down as I predicted in my last TA, but the pattern just got...
On the daily we have a large hidden bearish divergence. A hidden bearish divergence of this length is rarely wrong. We have bounced completely off both the bearish trend line and closed below it, we have also fell back through FIB retracement line .382 which is a important line to break. We are seeing bearish signs in MACD in 4 hr and several different bearish...