There is a clear cyclicality of actions, in the near future we can expect good volatility within the white support line and burgundy resistance line.
Closer to the halving, we should expect the next bullish rally as it was in the previous two times.
Parabolic bitcoin price growth this year was a trap for the "bears".
The explosive rise in prices is the usual short squeeze, which was initiated by cryptocurrency exchanges and big players, while real investors are waiting for a healthy recovery to start buying again. “Short-squash, devoid of any real volumes of investors ... I am waiting for this pump, managed...
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This is a short-term action plan with finally some good action in the past few hours on Bitcoin. We are heading towards the Monthly and Weekly close this Sunday on Bitcoin and we should always be prepared for both eventualities.
Call me what you will, and you will, and I do not care- but you can't unsee this.
Declining volume since 2015...
Tops on HTF's
Closer look at the current Horn Top on a 2 Week...
Today I want to focus on 2 fundamental metrics that aim to call Cycle Tops and Cycle Bottoms in Bitcoin:
Daily Mining Income (USD)
Through the analysis of the USD equivalent Bitcoin Mining Revenue, we can forecast future bottoming areas.
When Bitcoin topped in 2013 at $1163, it set the bar for the mining income level around $5.1M...
I see a lot of people comparing this area to the 20k top in 2017. During this consolidation period, sentiment has ranged from extremely bullish to extremely bearish with only a small few that I have witnessed, publicly acknowledge the macro consolidation length and what it may mean.
In 2017, we spent 2 weeks grinding the top of the range before plummeting to a...
The slightly rising trendlines used in price projection are estimates of the dominating angle where price reacts most to these trendlines.
Descending triangles can be also top or bottom trend reversal patterns.
In this triangle price projection is made from all time high to 0.1360 projection distance.
The almost horizontal bottom of the triangle is at 0.618...
# Time culmination off the 2007 Top, 2009 Bottom and 2015 Top
# Double Top 2007
# Top of price channel off 2009, 2016, 2018 Bottoms and 2011 and 2015 Tops.
# Monthly RSI 70.35 - highest since 2007 Top.
# Breaking the Dec 2018 bottom trend line.
An opinion only - DYOR.
In this post, i'll share a tool which helps you find Bitcoin's market cycles bottoms, it is the Trend Based Fibonacci extension.
You don't need to understand what this tool is to know how to use it, but if you want an explanation here is a video.
First start by laying the trend at the market top, then count from there...
if we do follow the 3 peaks pattern then we should see a top here soon.
If we dont breakout and a rejection happens expect $10.2-10.3 to hold as a support.
A breakdown would be bad and mean we will see another micro downtrend. If thats the case expect more downside and a takeout of the local lows at $9k.
Any breakout would mean $18-20k