I think we will fly tomorrow)
but after tomorrow's performance we can grow in price
If you could ask cz_binance anything, what would it be? To celebrate #BinanceTurns2, CZ will be LIVE on periscope for a Binance AMA session, this Friday 12th July at 3am UTC. He may even have one or two things to share
Bitcoin is making lower low and lower high confirms bearish signal by breaking major support.
From my previous analysis, we can see Bitocoin had pullback to $11,000 and price has been rejected from ‘Resistance line made by lower high’ started down trend breaking major support at $9800. Next suport for bitcoin is $8800. We will analyze again,when it reaches near...
I think the 10k that everyone is talking about, might not gonna be reached before a major correction. Or if we do hit the bears gonna step in immediately. Why I think that?
If you look the 2015 chart when the bear market ended, the first parabolic move took us to 500 USD. It is very similar to 10k because it is a big psycholgical level and also a round...
As you can see my chart we touched the 7.4K-7.5K range 4 times! You might think that the more time we test a price level, the stronger is becomes, as a support. However the opposite is true. The more time we test a level the higher the chance we gonna break it.
We also made a lower low on the 4H chart, creating a double top formation. Both tops are on...
After bloody Sunday crypto market looks green on Monday. I think everybody feels that we are in a very risky area. Personally, I think we're going down. We need a healthy correction. Volume is very low. We could repeat the pattern we saw the last weeks, but the other way around.
Binance order book also gives us a good idea. We can see 266 btc at 8000 usd and 72...
As you can see since we broke out from the trinagle on the 26th of May with low volume, we always had a big sell volume followed by a small buy volume.
What I am looking for is a big sell volume, bigger than the previous buy volumes. We found resistance at the 0.382 fibb. level, which is a great sign for a continuing correction.
If we have a look on...
It might seems like, that we are ready again for another move upwards and the correction ended. But in my opinion it is not the case.
If you have a look on the fibbonachi, you can see that we pulled back to the 0.382 level which is quite important. 8k also acts as a psychological resistance.
The VPVR also shows resistance and I drew a black trendline...
As I predicted in my previous analysis we had a fakeout to 9k pulled back immediately. After we broke out of the falling wedge we bounced from 8k (VPVR resistance) and then we tested the wedge as a resistance at 8.8k than we started to fall. Everything goes according to plan so far.
As I mentioned before the key moving averages are the 50 and 100 MA...
If you read my previous analysis, you know that I preticted that we gonna have a fakeout to 9K than immediately pull back.
I do not think it is gonna be a very short-living pullback, I think the 8K will not act as a support. It would be a way too small pullback compared to our parabolic run. The 21 EMA (blue line) should also not hold.
What I will be...
As you can see on the 4H chart we are forming this bullish triangle. The volume is decreasing we are making higher lows. The 7500 USD level acted as support, so the next target is the top of the triangle at around 8200 USD. According to VPVP we have a quite strong resistance at 7950-8000 USD which is not surprising, since it is a round number and also a...