BTC is at the very edge. Chart is clear. Not advice. DYOR let us see
Will it follow the general downtrend or break it and explode to the upside? The answer in the coming days. It is not financial advice. Be careful.
It looks like a short-term "moment of truth" is happening right now for bitcoin as it starts to approach the "channel cross" of which I mentioned in previous writings. One option looks like the price is hitting the top of the descending channel (dashed red lines) and it is then going to continue downward between 54.5K and 57K (a break near 57.5K would be better...
I feel like we are coming to a critical position where we need bitcoin to bounce off support to go long to around 18900 or breakdown and go lower to 17300
What a rodeo it has been for BTC as we enter the new year. Complete opposite of 2019 start which had us at ~3700. Is this a repeat of 2015 & 2016? Time will tell as we progress in this new year. Over a week ago, we successfully broke through the mid-term downtrend to establish a quite a steep short-term uptrend . That uptrend is now broken and we are in an...
RLCUSD in price compression with decrease in volumes. it now floats above the negative trend line but remains at a level where there is resistance. in the RLCBTC chart one can notice an upward break of the resistance and the ascent after the abc correction. The BTCUSD chart seems to want to break up the built compression triangle ... the area is delicate but...
The next weeks remain crucial for the "S&P 500" for the trend decision between starting a bear market or continuing the aging old bull market. The current trend bias as of this Thursday seems to favor the bulls, but the bears could start to attack as soon again. I hereby stay neutral and show two different paths where the market could move next from the upcoming...
I have no open trade right now. I stay at the sideline. The price of Bitcoin still has no direction. While I expected after breaking the 10128 support level two days ago that the down movement will get more momentum, the opposite was true. Will BTCUSD follow the blue curve? Will there be an outbreak on the upper side of the channel in a few days? Will BTCUSD...
In this chart, we can see the red dashed channel resistance line CR and the green dashed channel support line CS. The steep green dotted line was a support until Wednesday, when it was crossed and turned into a resistance line. How will the price of Bitcoin further develop? Will the uptrend continue and the price climb towards 25000? Will the old downtrend take...
Good Morning! A new day, a new Pivot Point system. BTCUSD is on a crucial crossroad (B???). Today, the decision is up about the end of the major downtrend. Pivot Point is 8163. Below the Pivot point , there is a bearish scenario, above a bullish one. Fluctuating around Pivot point means an undecided scenario and a sideways movement. If the price of Bitcoin...
This is a weekly chart back to 1995. As we can see, since 2012, the swings are getting smaller and smaller. This year, USDJPY is on a crossroad. Will USDJPY go up or down? It is very likely that it continues sideways after breaking the lower trend line of the triangle, as it fluctuates around the 112.55 level. When trading this currency pair, we have to be...
The yesterday’s scenario continues. Bulls and Bears are still involved in a battle. In the above chart, we see three green dashed lines. They mark the middle term downtrend. BTCUSD is testing the upper green channel line right now. The lower side of the violet triangle is the Pivot point at 11067. What is the Pivot Point? The Pivot point is calculate based on...
Bitcoin is at the crossroad. It is swinging around 14642 while the Stochastic indicator suggests that the long-term uptrend is still intact. As long as the Stochastic indicator is above the blue dotted trend line, we can assume a bullish scenario for BTCUSD. However, once that blue dotted trendline will be broken to the downside, a very bearish scenario will take...
The price stopped the 4H downwards trend yesterday (sharp Aqua line) and started going up but is compressed between that and the short-term downwards trend (Aqua line on the top) . This downwards trend might however come at a crossroads with the medium-term Weekly uptrend (Red line for the latest one and Orange line taken from a low before). The horizontal blue...
We are very close to breaking the long-term trendline. We're either going to fail to make a new high and slowly churn downward again, or we're going start a long climb to bullish targets. Since we already have major baseline support below us, I'm leaning toward the latter If we start to see volume coming in here and the price moving steadily past that...
Over the last few months there have been several major crashes which are always followed by very strong rallies in compensation. None of these have managed to break the bear trend we have been in since the top. We are, right now, days away from a convergence of this trend with the overall log growth that started in early 2013, got touched with the Silk Road crash...