BTC was previously followed by by 2 bearish patterns along with 1 MAJOR BEARISH channel. The main watch...Recently the prior bearish pattern did turn Bullish and as you can see we now have a Bullish Channel with Higher low's and higher high's. The problem we still face is the major BEARISH channel if you zoom out. Not only that but everytime BTC tries to make a...
Based on Elliot wave theory, we have made a failed 4th wave up by re-entering wave 1. We can also see some bearish divergence on the 4 hr and a bearish flag on the 1 day. Next resistance is 6350 if we do on the offside remain bullish. Stops were hit on my last short locking in some profit. interested in laddering into another short at these levels and riding them...
On the daily chart, DGB just bottomed out on the RSI, and has a month long gap to break out big time do to a short support cloud, despite whatever BTC does. If DGB can rise to ~3.5 cents, there will be no resistance between it and the moon. DGB will likey hit the dollar sooner than later. Please share your thoughts in the comments.
We've recently broken down from a symmetrical triangle which can also be seen as a very predictable bear flag. after our dip slightly below $5800 we've established a tweezer bottom reversal but still do not have enough support to consider this a strong reversal. To remain in an upwards trend we must break 6050 with conviction and our next level of resistance would...
BTC finaly Broke out of the Bearish Triangle pattern after 5 Months of consolidation! With the breakdown came the Sell Volume increase, which should take us down to at Test the prev. Low of 6k for BTC. We could see a short bounce before that at the 6500 lvl, but i expect a bigger Bounce at apx 5500-6000 range with a potential 25% return. Happy Trading ***This...
1) 1 leg down ~9-14% 2) 1D leg up 3) 1 more leg down ~7-11.3% 4) ~1W retracement/sideways trend 5) restart from point 1.
All signals point to 5800 being our next level of support. We've broken down hard through the rising wedge and have broken through our last fib retracement level. If we break 5800 my next target will be 5450. Currenlty enjoying a short position from 6720 and stop lowered to 6250.
After breakout, we are sitting on a nice fibo retracement level (blue square) to watch out. This is our buyzone. If we buy here, we have a good risk/reward ratio since our stop is going to be last bottom (6k) and targets will be 12k and 15k
Expecting this rising wedge to break down soon. 4 hour MACD has crossed bearish, bulls have lost momentum. Target is 5k.
We are currently in a rising wedge pattern on both the 4hr and 1D chart. I will be laddering into a short position between $6995 & $7200. Stop orders set between 7326 and 7400. Short term if bearish will likely bounce around $6600. Longer term bearish scenario will likely end up below $5800.
We can see that ONT has fallen from the previous trend line to the new support zone(4). If BTC bottoms out around 5k then we can expect the retest the previous support zone(3). If BTC has already bottomed at 6k then we should expect a continued uptrend movement in line with the new trend line all the way until mainnet release.
Besides being bearish on bitcoin for this year, shorts keep increasing at a exponentional rate, and we are heading to the big big even at 6k. Big players on this market will be looking for this level, to add to their positions, and we still have a big potentional for a short squeeze. Trade setup: Entry scaling between: 6k / 5.8k Stop Loss: 5,3k First profit...
In the yellow rectangles you can see the daily three black crows followed by a green small one followed by more downwards action. Also its been respecting the 236 fib ma really well but the difference is, it wicked of the previous 2times at ATL. This time its staying right above it which acts as a good temporary support. This is looking scary to me so i expect...
Looking at the one day chart we can take into consideration of a 3 black crow pattern, poor strength on the rsi in any type of upwards trend at the moment, and a lot of failed attempts to break above the .236 fib level. I assume we will correct further down to the 7150-7k range and from there we can only hope to stay above $6950. Will be laddering into a short as we go.
We are currently in an ascending triangle formation. Though this pattern can occasionally lead to a breakout, there is not much volume to confirm a continuation of an upwards trend. I have closed my long position and entered a short at 7625 with a stop set at 7689. With our current standing, I assume Btc will find support in the $7300 range and if that is broken...
We've been trending slightly above the golden ratio .382 on the 4hr fib. if we break back below that we will more than likely retest the trend line below. Still a possible bull trap as the flag is not longer than the pole and could still be considered a bearish flag formation. Strong resistance in this area.