Morning folks, So, BTC was not strong enough to form H&S and just collapsed lower. Now finally we get patterns that could become a starting point for pullback. Here is 4H 3-Drive Buy pattern that has minor reverse H&S on the bottom. We suggest that it is possible to consider long position because now it is accompanied with reasonable risk. We see 45K level as...
eurusd downtrend The 50-period EMA at 1.0895 acts as an immediate resistance level for the major pair. The crucial upside barrier will emerge at 1.0915, portraying the confluence of the upper boundary of the Bollinger Band and the 100-period EMA. The next hurdle is located near a high of January 15 at 1.0967, and finally at the 1.1000 psychological round...
Morning folks, This update is better to watch with the previous one, so you better understand what we're talking about... So, BTC has slipped a bit lower. This is not yet the action that we've discussed in our previous scenario. With this downside action now the H&S pattern on 4H chart starts looking even better. Today we consider upside background that is a...
Morning folks, So, there some some jokes on the market already that BTC is becoming a stable coin... Indeed volatility has dropped drastically. But this could easily explained. If nobody is buying right now but all selling offers are swallowed by ETF whales - where coin should move? For instance, only BlackRock as bought in a single session this week more than...
Morning folks, So, indeed market has shown upside action to 49K after our last update, but later has broken, as we said, vital area for the bulls. For now ETF approvement doesn't fit to expectations much. In general, BTC has dropped for ~8%. But, at the same time - let's do not overreact on this. Yes, drop is significant, but it doesn't break major upside...
Morning folks, So, our 47.35K target has been hit on fake ETF approvement ;) Anyway, right now the major question is about stability of demand. Ambitions and emotions have got a release after ETF approvement and we have to be sure that bulls have sufficient power to keep moving higher. Because technically market has no problems for upside action - no...
Morning folks, So, just we've completed with triumph our bullish setup on Monday - situation has changed drastically. Drivers of collapse is a separate topic for discussion. But it seems that market is very nervous now, not knowing in what direction to follow. This in turn tells, that ETF background as a driving power of the bulls is exhausted. Today we do not...
Happy New Year to everybody! Hopefully you're feeling well after furious celebration ;) So, BTC keeps bullish context. Despite our recent idea with H&S has not been materialized, but BTC keeps vital condition for bullish context - it remains inside the triangle. Besides, now, we have another reverse H&S with absolutely the same potential entry area around...
Morning folks, So, downside action has happened, even deeper than we thought. Bearish grabber on daily chart still exists and suggests potential drop below 40K area. Still, this is just the pattern and could fail as any other one. To bet against it or not - this choice is up to you, we just share with our thoughts on the suggest. First is, downside action on...
Merry Xmas everybody, So, our suggested pullback to ~43K support has happened. But the problem is - we've got the daily bearish grabber with discussed "222" Sell. Grabber suggests drop back to ~ 40K lows... It means that current level is vital for BTC. If it still has bullish sentiment, it should start raising now and erase the grabber. Otherwise, if K-support...
Morning folks, So, our bullish setup has worked properly, market has completed intraday XOP around 43K area. We suggest that in perspective of 1-2 weeks BTC has good chances to proceed higher and challenge local top. But for now, as we're coming to long holidays and we have "222" Sell in place on daily chart, we suggest retracement, at least to 42.70-42.75K...
Morning folks, So, BTC has failed immediate upside breakout, although it really has tried... Now it seems that market is not too happy with recent Fed decision and has not joined to common euphoria. This is understandable, because number of BTC rivals now are increasing. Still, we suggest that bullish context is not totally destroyed yet and mostly depends on...
Morning folks, So, daily momentum trade has worked nice, minimal 43K target is completed. Now the major riddle stands around current rally - whether this is continuation of major tendency or 2nd downside leg is still possible. So, once 1H chart target will be achieved, we intend to see what market reaction will follow and what patterns will be formed around it...
Morning folks, So, Thu plan as worked accurately - BTC has dropped precisely to 41K support area. Now it stands oversold on daily chart and near strong Fib support. Thus, we do not consider any shorts by far, but watching for scalp bullish positions instead, suggesting that upside bounce should be at least to 43K area (or even above the top if BTC wil form...
Morning folks, So, BTC shows great performance, now it almost at the eve of our primary upside target around 48.5-51.1K area. Still, BTC hits overbought on daily chart, and it would be reasonable to wait for moderate bounce. 41K area now seems suitable for this:
Morning folks, let's keep up with our BTC analysis. So, our Thu suggestion was correct once again - BTC has jumped, breaking 4H wedge pattern in opposite direction. Now we suggest you to think on two objects. First is - is it really ETF topic that pushing BTC higher? So, the gold is raising also because of ETF? Second is, despite how strong the BTC pace is,...
Morning folks, Just to not bother you with a lot of details, we suggest that BTC could try to challenge the top in nearest time. Despite that we're getting classic wedge shape, which should be bearish, we think that this is more the sign od bears' weakness and BTC could try to break the top. So, we do not consider by far any short positions. If you would like...
Morning folks, So, spike up has happened as we've discussed last week, and formally, daily bullish dynamic pressure is done. But hardly it makes bulls happy. W&R suggests stop hunting action, and in general the bearish short-term signal. Of course, it doesn't mean the major reversal etc., but it could trigger deeper downside reaction. Besides, on 4H chart our...