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...
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...
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...
I cannot tell where the top will be but it is likely to be in this area.
If this does not hold, then next will be 11500-13000.
And past that, 20000-25000.
If it makes it to 9700-9800 this bet could even be risk-free since this dumb ponzi drops 10% or more on every single resistance.
The way buyers have behaved - disbelief - hope - start getting excited -...
Ranges are tightening up and how this pattern breaks this morning will likely dictate direction on the day.
The bulls are still holding 4 hour EMA support, and the daily chart is still holding well for bulls.
If we bear break we will zoom out and look for the daily higher low to still need to be set.
Inside bar on the daily yesterday and another is possible for...
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...
. 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.
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.
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...
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...
- Indices -
Powell Speech: Outlook of trade talks is unknown, premature to judge.
Complete denial, or just lying?
By now every one knows the economy numbers make no sense and cannot be sustained.
Every sucker that fell for the "trade war hopes" is slowly starting to realized he got scammed.
Don't really care about other...
This is a journal of thoughts and analysis on Bitcoin following the weekly close on May 19th
I have positions in Bitcoin, Ethereum Classic (posted), XLM, CND, and DGB
Margin positions currently open TRX (posted), XRP, and BTC Sept futures Long from 6810 (posted as part of BTC short trade thread).
Weekly: Main Chart
The weekly closed at exactly the same level...
There is a few weeks that i checking BitcoinCash and waiting for an opportunity to enter long term trade and i think, this is the buying zone.
Please consider that in case of the support at 190.10 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Take Profit List:
The RSI downtrend is...
The accumulation area is characterized by mostly sideways price motion and is seen by investors as indicating a potential buying opportunity. An asset in an accumulation area might be about to breakout.
We have been having a sideways market since November 2018 until the end of March. This sideways market has shown a higher average volume than during the...