Based on a basic rule of thumb, if the .786 or greater retracement is hit after a significant bull or bear trend it is expected that a reversal has taken place.
BTCUSD just so managed to hit the .786 after its 2018 low of 3100. Therefore based on this rule, BTC has entered an unconfirmed bull trend.
Keeping this in mind, it would be wise for fib traders like...
For short term, those to areas/levels (green and red box) are really interesting for me, at least.
If the first resistance (red) level is NOT broken, there is a good probability this turns into a 3 dive pattern (see comment with a 4h chart) and hysteria fulled selling will continue for a while.
If red level gets smashed, the next important R is at the area...
Over the past couple weeks, we have seen overall sentiment of the market gradually switch to bear.
Though this may hold true, I though I would share this bullish fractal pattern and possible trading opportunity.
The chart above shows Bitcoin currently sitting just above a long term pitchfork support. This is the second time testing this pitchfork support which...
After roughly 30% down, Bitcoin has formed a multi-day disjointed angle and a rough formation of an Inverse head and shoulders pattern. Thus creating excellent trading opportunity for those sitting on the sidelines.
I apologize for the delay, at the time of this publication BTC was Testing Entry 1 displayed above.
We may get lucky enough to test again, or...
Addendum to previous post -
Having more information now, it is starting to look like a triangle zigzag pattern, which usually defines a fourth elliott wave! The target of 15.4k per bitcoin thus still holds, but we have to wait a little longer.
-We have started our 3rd abc wave downward
-Triangle pattern confirmed by the RSI momentum
Fibonacci price extensions are similar to Fibonacci price retracements. It is also support and resistance indicator that is used to determine possible support and resistance levels.
Again Fibonacci retracemnt, Fibonacci price extensions and Fibonacci price projections. Left side is just a zoom in to 15 min and right side shows a bit bigger picture.
I am looking...
Previous chart (), with exact same data had strange problems, where some values are double or not visible )
A short term outlook for XBTEUR ( Bitcoin ).
Pale pink boxes show are Fibonacci price extensions looking for possible support if move is to south....
I can't say much, bull run is bull run. Predicting the downside can quite tricky just like it used to do. Bitcoin game is a cycle game. You gotta understand that.
Bitcoin will halving next 22 May 2020. People crave for the upside. Facebook Coin launch. This is going to be crazy ride indeed. Shorting this will definitely rekt you.
For the last several days BTC has been grinding on the support line that has been generated by a pitchfork that connects the 2017 highs to the 2018 lows.
This pitchfork was generated in the same manner as the one from the start of the 2015 bull run which precisely predicted the top. Then in turn was used to accurately calculate the bottom of $3300. chart will be...
Thank you for looking at my post I am a starting crypto investor and am looking forward to the other half of 2019.
Fib. Retracement shows me that We will be reaching the bottom soon and I expect to ride a wave up to the original level of 3 days ago.
Have fun trading,
Please let me know what you think and share your ideas with me.
This is actually a 15 days old but I was unable to post it here so I posted it to Here are some interesting R & S levels for #XBTEUR
After 15 days, those levels are still in play and as important as ever. As of now, 4784.6 level is something worth mentioning.
Added EMA's using...
Fractals can be misleading, we see many of them from both bulls and bears. Trusting a fractal is always tricky, but this here sure looks like the best weekly BTC fractal in a while.
1. BTC breaks the downtrend line with a rally to the 50MA
2. Price reverses at the 50MA and goes down to retest the downtrend line
3. The downtrend line now acts as a support, we make...