As the chart shows, retracements in the last six months have become shallower & shorter. Many believe that currently BTC is going to shoot up again.
Personally, I do think it is unlikely to fall much further. However, the recovery may not be swift:
1. All indicators still suggest overbought condition + bearish divergence.
2. The 20k resistance is too close.
3....
Currently holding on the 100 MA on the 240 min. chart, possible right ear sidewinder setting up. Stoch RSI turning up off the bottom, MACD getting ready to cross and SQZMOM trending up. Given confirmation of those indicators, if the sidewinder plays out we will see 25K+ BTC by Dec 31. Shorts beware.
BTC has currently 3 support lines, with a defined demand zone and 2 resistance lines, with a defined resistance zone , considerations:
- SHORTS
if breaks any support (uptrend supports and normal support)
take profits on demand zone
if breaks the demand zone , open again
- LONGS
if breaks any resistance (downtrend resistances and normal resistance)
take...
BTC/USD is showing a potential double top reversal here. if labeled support is broken, target level is around $7.9k
additionally, we have:
bearish divergence on volume
bearish divergence on MACD & its momentum oscillator
bearish divergence on RSI
AND (this is very important):
koreans and japanese are nowhere to be seen in this secondary pump. USD spot price has...
We reached the resistance point at this value !
So either we got through the resistance point, either it will strike back between the two blue line.
So I think there is a high possibility that the market will get back to its sens at go back around the 1300-1350 in the following days.
Do it at your own risk :)
Bitcoin crossed to FIB level #13. Of course the pressure of being into a new dimension it's never experienced before made it retrace. Nevertheless, Technical Analysis is showing two figures here.
- One Bullish Harmonic Pattern.
- One bull flag / descending channel.
Also some confluences:
- Support at the previous triangle resistance at 12500.
- A psychological...
Sell signal type TD-countdown setup is now completed on daily chart suggesting an imminent correction.
This is only a private analysis and not a suggestion, do your own research before entering a trade.
trade well ;o
One of the tools that I use the most for finding resistance and support levels are the Fibonacci. In this chart we can see that when the price reaches a number in the thousands that begins with a Fibonacci number, it immediately dumps. Normally, this has happened between 6-10% before reaching the FIB retracement levels shown in the chart. Interestingly, these...
This is not in my Portfolio and it shouldn't be in yours. However there are many people thinking about and asking my own view on it, but I do not trade any duck is moving out there, there are thousands of real assets and you looking for something that nobody understand a 100%. Any Investment should be based on important and real data with defined business model...
Stealth mode whale accumalation.. RSI oversold in every time frame but the daily. Im expecting to bounce from the center line to breach the resistance within 48 hours. Flag Pattern, to continue the trend up. Skys the limit with this 1. When she decides to go up. Volume seems to come out of no where.. Buy now or wait for the break.
