Let’s take it to the daily timeframe.
Even it’s been a monster move, Bitcoin has a healthy uptrend, consolidating before next impulses..
Long story short:
If Bitcoin follows the red channel the next wave up is aiming to conquer the $80,000 USD area...
Remember consolidations and healthy corrections are needed to continue this uptrend beyond the first target 🎯
Are we done correcting? In my humble opinion, we are close. Let me share with you my thoughts on this.
Testing Weekly 20ma which is a historic support for bitcoin in past bull markets.
Tested VAH of previous range for support and has held so far.
after 10.5k was established as range low price pumped to top of range at 12k followed by a retracement...
SIMPLE. EASY. ACCURATE ANALYSIS. BY THE WAY WE HAVE GOT THE BREAK DOWN EXACTLY TO WHERE I STATED WE WOULD IN MY LAST POST!!! FIRST FAKE OUT MOVE CONFIRMED???? NOW LETS SEE IF WE HOLD THE 618 EXTENSION FIB AT 8830, IF THAT BREAKS WE LOOK FOR A 1-1 EXTENSION WAY LOWER AT 8300. BUT LETS SEE IF THE 618 HOLDS IF IT DOES, WE LOOK FOR A BIG FAKE OUT BACK UP TO 10000+...
Typical bitcoin "scam PA" over the weekend. It was dropped by $400 and after bleeding all day instantly came back at the end of the day.
Rejected off resistance at $9800, close above or strong pump through this level will be an absolute long signal for me.
$10k was tested a lot of times and each time the probability of a break-in increases
Let's see how it...
In-case of price is going cross LH 8952, we can see below projection:
LH 8955 below, keep continue selling, if reversal exist then price must cross this level above.
PLAN (A) : Sell below 8955, for first T 8647 nearby and T2 8459
Bitcoin trading inside the triangle at the moment and most likely make a decision on where is heading ($10,000 or $9300).
Furthermore, we cannot rule out that Bitcoin can break out of the triangle and hit resistance at $10,000 and start a retracement to $9300.
therefore, everything else is just sideway movement at this stage and we need to see Bitcoin close...
Just me again nerding out on some crypto analysis and talking markets.
Covered COINBASE:BTCUSD - trend continuation trade which just fired for me at the time of recording. (To me this seemed like the most important event of the day..)
Covered KRAKEN:ZECUSD - nasty bearish internals, what I did with my long position, and why.
Covered BINANCE:LTCUSDT -...
For all you CME GAP traders. We have a gap to trade. I always trade them from wick to wick but I see some trade from candle bodies... Each to their own. Have a look at chart attached for analysis.
$btc #bitcoin #BTCUSD #cmegap #btc1!
Since the Triangle Breakdown and break of 9100 Support Bitcoins price already reached our second Targetzone nearly perfectly and is now at a real important Price level which will determine our next moves.
We want to take a look at the Daily but before we just sum up the...
NeoWave, 5th Failure + 3rd Extension within Terminals
5th Failure Terminals basically mimic 3rd Extension Impulse patterns.
3rd Extension Terminals
This pattern takes on a strange and difficult to interpret structure that is usually discovered only after its conclusion (or shortly before conclusion if the pattern is large enough). This is what an Extracting...
As we can see illustrated in the chart below, Bitcoin currently has overcome the very strong 10k resistance, this means that the next one is around 12,000. Okay so now we are halfway between the two key levels and we see a pennant forming (triangular bullish formation), measuring the flag pole (13.2%) we can predict that after breaking the resistance of the...
Looking at the one hourly chart. We can see we are currently still trading in a side-ways pattern that has been going on for an entire week now.
We still have the 8000 level providing over head resistance, while this level holds I remain bearish until proven otherwise.
Bitcoin setup on H4. Smaller risk on this trade because of the high risk of volatility we are currently experiencing in the market.
Entry is at the 78.6% Fib retrace and trendline with stops at the 110% Fib and target 1 at -0.27% which is $7210.