The Stochastic RSI is a very powerful indicator of momentum in the market, and on the daily Bítcoin chart it is clearly showing that the bulls have likely run out of momentum. This is backed up by the low volumes the bulls are offering as they struggle to pass the strong $7120 historical resistance level , plus a Relative Strength Index which had been rapidly...
If more volume appears, then $BTC will probably make a small bullish rally.
GBP/AUD could see a bearish reversal as price seems to have rejected the daily resistance level of 1.8185 and as a result forming a dragonfly doji on the H4. Along with the early hours of today where price failed to break this key area of resistance yet again. There is bearish RSI divergence occurring on the H4 which suggests the strong bullish momentum could be...
Currently Bitcoin is trying to attempt to make a pullback up to 6800 area. This is where everyone should have been bullish in the first place. But because millions of orders flooded the daily 50 area. We could heading thru the $6k area. Be careful bulls. I am still short from 7250. I would take a temporary buy according to the 4hr chart up to 6700-6800.
I thought it was all a dream.. I was so drunk on selling, I had a Bitcoin hangover when I woke up. HAHA! Bitcoin takes a major dive under $7000. While many people anticipated Bitcoin going up to the moon from here, like 99%... The 1% of the population was selling Bitcoin. I hope it clicks about the 99% and the Top 1%. Doing my hefty candlestick analysis and market...
H4 doji candlestick and perfect time to see retracement of bullish impulse
We have at least 7 hours left in this day candle and I have to give the bull a round of applause for holding up this trend with a lowercase "t" haha. The MAMA Bear is still in effect just taking a break drinking a RED BULL lol. She is about to head south fast really soon. The Bitcoin market is definitely stalling for that date. But currently the second hidden...
Well.. After 76 1 hr bars, better yet 3 1/2 days of being in the air, the bulls are really trying to hold on for this uptrend. While the retail value of Bitcoin is at an average of 7350, there has been a tug of war between the bears and bulls.. A new month candle has just begun and the bulls opened this month with a upmove.. But there is a lot of heavy resistance...
If you take look at this monthly chart. There is a huge Doji following a sell signal on BITCOIN chart. Get out! If your scalping for profits then Ok I guess. Wait until BITCOIN come down to $1000-$1100 then buy up everything. Do you think a bank would buy in the middle of a selling trend. NO. Buy lowest average price and sell high. You have been warned. Wait for...
On the weekly timeframe we have a nice double Jesus Reversal Doji. The entire cryptospace was very toxic in the last year with its greed - a deadly sin. Many people who were in nice gains (including me) wanted still more more profit and their greed was growing parabolically with the price of BTC and other cryptos. God has warned us with this crypto crash and many...
See trade above for a reversal strategy on the selected pair We are over extended to the downside approaching a key long term supportive price of 72.500 We have deceleration at this point and a doji formed on the daily chart Entry Triggered @ 73.250 SL : 72.250 (100 Points) TP : 75.000 (175 Points) Please remember to only risk 1% of your trading...
AUD/USD is currently stuck in sideways channel movement, having today had a surging bullish push to retest the previous resistance zone of 74400. We now see a candlestick formation, giving a grate short trading opportunity on this pair. Lets see how this pans out!
Aside from the strong fundamentals on this coin, we can see a falling wedge pattern on THETA. With the number of falling wedge patterns, I do consider whether it is time to begin accumulating alts again. With regards to the THETA chart, the spike in the volume that formed a doji candle (indecision) has caught my attention. A break above this candle could trigger...
The next 24 hours will be critical to know which way Bitcoin is headed. I'm slightly more BULLISH for the following reasons: Bull flag pattern appearing with a projected target at Point (D) that confluences with the psychological key number of $8,000 Inverse head and shoulders pattern still in play with a target at $7,688 Weak retracement from the supply...
The price looks unlikely to break this wedge, this has been confirmed by the strong doji which had appeared on the 4h graph as the price touched the resistance level of the wedge. The price formed a doji and has started to move down, the RSI was also at an overbought level as the price tested the resistance level. The price is currently retracing and the RSI is...
I think we are seeing the start of an ascending triangle that will have a breakout upwards. Notice the doji candle that formed right after the wick up to test the dynamic trendline. The black dashed lines are just guesses we will need another push up and back down to truly get an idea of how the triangle looks.
Yellow = Buy Zone Green = Sell Targets Red = Stop Loss To play this trade from a safer standpoint you may want to wait for a bull cross on the stochastic or TRIX.
So on the larger timeframe Bitcoin has broken out of the rising wedge pattern, confirming further downside pressure is expected. I'm now looking for trend continuation trades to ride the wave should it continue as it's the higher probability trade. A smaller rising wedge pattern has emerged on the lower timeframes that has peaked my interest. I'm waiting to see...