Bitcoin is above the support level of the swing area of previous cycle. It is vital that Bitcoin can maintain itself above this support level . A loss of this support will cause a much larger drop in price
SPX throwbacks to the range area. This currently increases the likelihood that the downtrend will continue. To confirm this, we have to wait for the breakdown the lowest brick in the range area
THORChain RUNE without the noise - good entry points
These Renko-Charts are great for more calm and clear view - so we see the potential good entry area and the next support if $2.85 breaks.
Do you use Renko-charts dear Crypto Nation?
Drop me a nice comment if you'd like me to analyze any other cryptocurrency or do another comparison.
*not financial advice
do...
Bitcoin has all the conditions for a downtrend bias in Renko Ichimko's analysis:
1- Red Cloud
2- New Red Brick blow the red cloud
3- Laging Spane below the red cloud
With the help of Renko charts you can filter out the noise and see a more clear and clean picture.
Chiliz is now at a very important support level - will we see huge recovery soon?
Give me your thoughts on that chart - do you want to see more Renko analysis?
*not financial advice
do your own research before investing
As I predicted before, Bitcoin has started an uptrend (possibly short-term):
In the Ranko chart, Bitcoin respects the support area of the Ranko MA channel and forms a green brick. The bitcoin target will be the middle line of the channel (33500-34500$)
We have an unused supply area. Due to the liquidity, we can consider reaching this area.
The price target is to at least reach the bottom of the liquidity area.
Is the bottom in? Who knows? The Renko chart does not predict tops of bottoms but it shows a clear trend in one direction. Money is made in the middle, not catching the tops or bottoms - that's gambling. Either that or you're a market manipulator yourself.
Anyway, we are still below the red moku cloud and the lagging line is still below price action. So this...
After a bearish crossover of EMA 20 and MA 40, NDX broke down the support level. we can also find bearish crossover on Renko oscillator.
These are signals for the downtrend to continue
Although the breakdown occurred in the weekly timeframe, it is still early to confirm. The reason is that in the Renko daily time frame, bitcoin is still above the support level. Until the breakdown is confirmed, it will be difficult to tell if it is a breakdown or a trap.
But there is a point in the TSI indicator that increases the likelihood of facing a real...
1 minute ago
Renko_Ichimoku Analysis:
Bitcoin met all three conditions for the continuation of the downtrend in Ichimoku analysis:
1- the red Cloud
2- New red brick below the red Cloud
3- The lagging span below the red cloud
Weis wave Renko Volume:
The volume in the recent downtrend wave is greater than the uptrend waves in the range area.
It seems that we have...
Although we have seen rapid growth in SPX over the past few days, this is not a confirmed reason for an uptrend. Although this may indicate a potential spring, SPX must break the swing area to confirm it. In Renko analysis, we see a bearish crossover of MACD and also the breakdown of the RSI support line
Bitcoin Renko-Chart - BTC with breakout of falling wedge
Will we soon see the next leg up in the still valid bearish flag until $50.000?
Not unlikely IMO - what is your opinion?
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*not financial advice
do your own research before investing
BTC price action with the removal of time via Renko indicates a clear culmination point is in play... as BTC hits the lower end of a long-term ascending parallel channel.
Reversal or bounce is likely based on support trend-line, key distinction being the macro headwinds the markets are facing from the economy.
Useful chart view to gain another perspective.
Although I view crypto market as a bear, I am not saying it can't have one more bounce. And if we take a look at the 2nd biggest coin ETH we can clearly see that price is still moving inside this big channel. This is renko 1d chart with a block size 1% of max price - 48$. There was 2 attempts this year to break this channel, but every time price has bounced of it....
Bitcoin BTC Renko-Chart - Fakeout or breakout ?!
Bullish:
Fakeout could lead to a break of the red trendline resistance and higher prices.
Bearish:
Breakout might get confirmed and the green support trendline could get tested.
What do you think?
Drop me a nice comment if you'd like me to analyze any other cryptocurrency.
*not financial advice
do your own...
Bitcoin still is bearish in Renko chart. it resected the MA 40 resistance and breakdown the trendline support. Renko analysis does not show any signs of trend changing. we can not confirm the breakdown now. if bitcoin returns again inside the value area, We can consider this breakdown as a potential spring
