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Now, let's take a look at the current Bitcoin chart.
After my call to buy BTC at $7930, the price has broken above my prementioned...
Currently, the price is on the pretty strong resistance area (orange lines) and soon there is also an important trendline which should act as a resistance level. If you are a short-term or mid-term trader and if you want to buy it right now, then I have to say - do buy it on the tip and do buy it near the strong resistance is definitely a mistake, we need to wait...
A possible Sell opportunity:
- yearly levels (2017 high)
- strong area
Wait for a rejection from smaller timeframes. If possible then wait for a confirmation from bearish candlestick patterns.
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Two day's ago we had a higher high candle close (the candle which got a close above $8,000), a few hours ago we got a higher high candle close on the 1H.
This 1H candle was pretty powerful and the buyers pushed it straight through the blue counter trendline (down-trendline). Yesterday, I said that those two blue trendlines make a Triangle chart pattern. Triangle...
Wait for a confirmation from 1H or 4H or even Daily. And the confirmation is a bearish candlestick pattern: Bearish Engulfing, Evening Star, Shooting Star, Bearish Railway Tracks, Spinning Top
Some criteria matching each other in one area:
- Fibonacci levels
- Previously worked resistance level
- Different timeframe EMA's
-* The gap: 80-90% of the...
I have struggled with further scenarios, after the bounce from my mentioned level at $7,930, because there are two, almost equal, resistance levels which can play an important role in the next movements.
To be said, I'm still with mid-term bearish bias because of the Weekly bearish candlestick pattern Evening Star. The price can make another $150-$300 leg upwards...
My last movements predictions have been quite perfect. The bounce areas and the breakout areas were nicely exploited and we had some nice movements.
At the moment there are some big bearish signs from the higher timeframe, reversal area is not so perfectly identified but don't worry, we should catch some breakout trades. Let's start a bit deeper analysis:
Here are 10 reasons why you should consider to buy Bitcoin right now and why I think that a possible next leg upwards is waiting just around the corner.
1. Yesterday's candle close was above the $8,000 above the psychological number - $8,000 is a round number and it should act as a resistance level but the price manages to close above of it.
The consistency, the consistency, the consistency - I have mentioned it multiple times and again it is the major indication in the crypto world.
As you see those last candles getting bigger and bigger after every candle, that is exactly what I mean by that but let's take a look about the current situation.
First clean resistance areas:
Here, around $8,000, we...
At the moment, the Bitcoin price and the altcoins have started to make a slight correction. Altcoins correction depends highly from BTC but just in case let's prepare for technically good entry areas and currently, let's look where it can be on the Bitcoin Cash chart.
BCH has started to form a bearish chart pattern called Rising Wedge. If the price and if the...
1. Fibonacci golden ratio 62%
3. Historically worked very strong support area
4. Descending channel bottom trendline
5. The tiny round number $0.05
Yes, pretty far from the current price but we MIGHT see some bounce also from $0.07. NB: this area is definitely not so strong as it is around 0.05!
"For the most part, a typical trader’s...
Here is a quick overview of the $8,000 level. Definitely, it is an interesting level and interesting are also conclusions below in this analysis.
Historically it has been a very strong area, multiple times it has worked as a support level and as a resistance level. If we start to count those rejections (smaller and bigger) then we get 10(!) rejections from the...
- We have a trendline break on the 4H chart with a very strong and powerful candle.
- Short-term lower lows and lower highs
- Previous support level starting to work as a resistance
- Previously worked trendline starts to work after the powerful break below as resistance and it should be a classical retest situation.
- EMA 100 and 200 have a Death Cross on the 4H...
On the Daily timeframe, the price has drawn a bullish continuation pattern called Falling Wedge.
The continuation pattern is valid and active after the breakout. So, wait for a breakout confirmation on the Daily chart and the wait until the Daily candle gets a close above the pattern upper trendline.
The target is pretty high, probably you should considering take...
Do you remember one of my previous post about the $8,000 level? There is discussed about certain directions on the Weekly chart after the Weekly candle close. This discussed week is over and we have to talk this through because this is strongly on the agenda.
Over the past, the Weekly candle has closed above the $8,000 price level three times.
Two times it has...
Around $73, criteria:
1. Strong historical support area (orange line)
2. Ascending channel projection
3. Fibonacci momentum retracement ratio 38%
Around $50, criteria:
1. Old strong price level worked as a support and as a resistance
2. The round number $50
3. Fibonacci golden ratio 62%
Last time we managed to discover that technically a good bounce...
I would like to warn you about the current situation and about the current price action.
The price action on the strong resistance area, "the first clean resistance" as I said one of my previous posts, looks like bearish BUT it needs confirmation and the confirmation should come after today's candle close!!
Currently, the Daily candles have four rejections...
Again, I'm here to give you a little overview of the current market situation.
The market is very weird, BTC flying, altcoins are on the downswing (today they have started to make first steps to higher prices), the BTC price has cracked strong resistances after another, etc.
Just to bring technically good levels, I'm here to make a little technical analysis....