Do you remember one of my previous post about the $8,000 level? There is discussed about certain directions on the Weekly chart after the Weekly candle close. This discussed week is over and we have to talk this through because this is strongly on the agenda.
Over the past, the Weekly candle has closed above the $8,000 price level three times.
Two times it has...
BTC bulls made a push last night that rejected from the high of this entire move by 1%.
What is notable is the bear break on the 4 hour chart with no follow through.
This is notable because there is a lack of price history support in that range, yet bulls bought the dip quickly.
The sooner the bulls erase this double top, the better for comfortability.
Bitcoin was rejected for the 3rd time on the 8,200 - 8,360 zone, making a Triple Top rejection formation on 4H (turned neutral with RSI = 51.868, ADX = 28.597 as it is trading close to the 0.500 Fibonacci level). We are expecting the rebound zone within 6,400 - 6,800 assuming that the decline rate on every rejection increases by 0.40. There is also an obvious long...
Just a quick video update, since I like doing these : ) Things continue to look good for the market, as it seems that we're preparing for a markup to some higher price ranges, after finally leaving the $6K consolidation area/pivot zone behind. I think it's fully possible that we never see $6K prices again, barring some sort of flash crash or black swan event. Of...
Today we’re going to analyze the technical situation around the Bitcoin’s upward trend.
In particular, we will interpret the SIGNALS being generated by the primary technical indicators and will identify the next price target for Bitcoin.
Interested? Continue reading this analysis from Monfex, a revolutionary cryptocurrency exchange, and you’ll...
I don't want to go into much detail on this one. This is just the current volatile price action explained by the assumption that Bitcoin is trading on a symmetrical pattern.
The July 2018 - December 2018 price action is close enough to be an inverse formation of the December 2018 - today formation. Their distance from High - Bottom is identical (144 as opposed to...
Here's my forecast for Bitcoin looking at a 1 year period.
Initially I believed Bitcoin was trading past the halfway point of its correction that started at the end of 2017, and so we planted some key levels to watch (and trade) and tried to gauge the timing of the remaining consolidatory period (the most important part!). This led to the following...
. Ripple/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 43.
. While the price downtrend in the daily chart is not broken, bearish wave in price would continue.
. The RSI downtrend is broken, so the probability of the Beginning...
1H CHART EXPLANATION:
- Price broke the Descending Trendline and is currently on a Support Zone.
- If price bounces from here, and breaks 0,397, it has potential to move up towards the Major Resistance Zone at 0,469, being careful with the Middle Resistance Zone at 0,423.
From CMF try to bounce back into bullish area again.
MACD still looking small buyer power
and both still looking weak although still plenty of room to expand...
if the ascending triangle do work out
and price action show it's strenght above 282 USD ..
i expect 320 USD and 365 USD as a next resistance target.
Bitcoin is either going to test support at $7,671ish USD or make a savage move to break this resistance at 8,263ish USD & consolidate above that double top or continue higher.
Time will tell per usual.
In my previous post I talked about Ethereum making parabolic moves to the upside when trading on or below the upward sloping trendline in this chart.
I'm expecting a test of resistance at 267ish USD in the near term.
Time will tell per usual.
21 May is another decision deadline for the U.S. Securities and Exchange Commission (SEC) on the VanEck's ETF. The decision could potentially be another good trading opportunity.
There have been a few murmurs that there is a slight chance for approval given that Hester Pierce, one of the SEC commissioners and also dubbed the "cryptomum", will be giving a keynote...