Not so sure the bottom is quite in yet. . .it could be and we could be just accumulating here but as we saw with the recent green candle that got rejected at the bottom trendline of the previous bearflag we are still in dead cat bounce zone so more downside is more probable than this being the current bottom...I really can't see it goign lower than 2.8k but its...
A break down from the flag is the most probable direction here...most likely just in time for Black Friday...the stoch rsi seems to concur with me...I will be taking advantage of those Black Friday prices and stocking up. You make your own decisions though because financial advice is not included here. Thanks for reading and good luck!
As I said in my previous btc idea I flly anticipated we would break down from the descending triangle ebar flag which we have...we are inching closer and closer to the drop target with every new 4hr candle...I expect us to hit this price on bitfinex but the premium may remain and if it does that means on exchanges like coinbase it could fall as low as the 4.4k...
Things are looking fairly bearish aside from the bear fakeout from the flag. The fakeout only brought us back inside the bearflag though making it still very much in play. Probability still favors a breakdown and it will likely take a rare inverted bart to nullify the bearish momentum and send us upward. One slightly bullish thing at the moment is the green dotted...
Although this latest price spike has just broken its previous high, it appears that a break above the resistance at around 7750 is unlikely.
My pessimism is due to the bearish diversion as can be seen on this 4HR chart. Whilst the price over the past few days has moved higher (green arrow), the RSI and OBV have both fallen (red arrows). Furthermore, the volume on...
We are forming a rising wedge Or you can also say a bearish Flag over there but The thing is we are going to test at least 6k. Can drop to 5.4k.
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Closing long position from yesterday. The RSI is showing overbought. Ascending wedge, possible bearish divergence. Take some profits now...don't be greedy. Always play both sides.
well the bull flag on the 1hr chart has broken bearishly downward and the projected drop this target is 6880...which is just enough to allow the current 4hr candlt to pass down back into the bear flag and down under it. There is just the tiniest tip left for the 4 hour candle to fit in on the bear flag so if its gonna happen its gonn a happen this currrent 4hr...
As you can see the past fe candles have been more or less trading sideways....I anticipate the price will break downward bearishly out of the current flag, which should help the price continue to reach the drop target from the larger bear flag of around 5700....I still have a limit buy back set up at 7590 and am waiting patiently...I expect it to go even further...
A bearish flag is forming on 4h chart.
Now the price is consolidating. It will break soon to strong key support at around 8460 and bullish to resistance zone 95xx-96xx.
In addition, the price has broken EMA, so be prepared :)
BTCUSD
Fibonacci
Fib retracement from the previous low shows it took BTC 18 hours to break the 0.5 level.
It took another 14 hours to break the 0.78 level.
About 21 hours above the 0.78
It's now spent 49 hours above the 0.5.
Can it keep it going above the 0.78? The 0.5?
If so, our lowest could be 8400.
I stand neutral.
Bollinger bands
As of 1AM PST, four...
Bitcoin has found a resistance level before reaching $4500. It is now trying to go back up again, but as you can see on the MACD indicator we have a pattern of bearish divergence showing again. On August 14 we had a similar pattern showing and Bitcoin went below $4000 after that.
Conclusion: Watch out for price drops. If the price starts falling you will know...
We have a tremendous confluence to buy cryptocurrencies for a long term at this moment!
It is a common thing to test the previous all time high (in this case from 2018) on the weekly chart.
200 moving average is considered as a strong support by huge instituions and hedge funds and bulls successfully defended this area!
0.382 FIB retracement is also a...
We are currently in a bear pennant. The total breakdown for the pennant has a target of 5k…if we just take the triangle part the breakdown is 14k….I think we go slightly below 14k then find our bottom aroun 13.7-13.9k Before the rebound. Of course there is also a slight chance we’ve found our bottom already in which case it will just break upwards instead of down....
