In the short term point of view, Bitcoin looks like it could be forming a double top. This is our second time hitting resistance, and we are forming a bear pin on this last hour candle. Take a look at RSI slowly creeping into the oversold zone. I believe that we are in for rejecting this next fibonacci level and moving down. Increasing my short position here.
After a rallying week to $14k, we saw a massive sell-off, which, to be fair was expected so let's not be disheartened by it. A pullback is healthy and necessary to sustain any gains in the markets... and a great opportunity to buy back in at a low price so I welcome them with open arms :) If the weekly candle closes below $10.7k, this would be confirmation that...
I guess it's time for a nice 25-30% retrace
Waiting to see what that little bull flag will do.
Bitcoin has made a great push but is a little over extended now. BTC needs to check back before continuing much more forward momentum. MACD is headed downwards, RSI is topped out, and NVT is at the highest levels BTC has seen. The Ichimoku cloud shows BTC headed back to retest the cloud (IMO). #1: First BTC is looking to check back to the 7200 range from here...
BTC is in the process of adjusting supply and demand. Almost all wave structures reflect the decrease in prices
COINBASE:BTCUSD BTC shorts look ready
We started an M formation broke the previous trendline we formed another trendline we are currently at an important price point For this to work we need to break the current supp/trendline, if so a downwards target to the 3700 area could be optimal. If not, and we break above, a push to the 4100 area i think it could be expected
BTC side way in the adjusted area to move up to $ 4200. However, the price of 4200$ will be sold off very quickly
See trade idea in chart
Simple 1:1 Short btc at 3959, SL 4180 and TP 3738.
Whats going on everyone! I hope this chart on XBTUSD will help others see what i am seeing here, If your not already following make sure to go FOLLOW and if you feel this chart makes sense to you LIKE as that will allow other traders to see my charting and over we can learn together! The chart pretty much says it for itself we continuously keep getting rejected...
Hey friends! Looking for a short scalp here! As always, make sure to have stoplosses in place. Be well
Sorry the noise, but i'm trying to speculate main next convergent zones being 4650ish for bulls and 3950ish for bears. the nature of convertions and distance from current price make the shorting bet being less risky (and therefore higher probability). So i tend to agree with btcmachine view and speculate a target around 4000k thats is also a psychological support
Hello friend, btc have a support I can not say that this is a full-fledged turn, but for the first time it looks good over the last time. Looks Good? Leave a like, share and leave a comment. Thanks for visiting.
Unfortunately it's still shorting it here ... hope this red ends soon
Convergence - This is a bullish signal that occurs on a downtrend, when the price on the chart sets new dips, and the indicator does not, and warns about its completion. This small timeframe shows a reversing impulse, but it is only 15 minutes. We'll see . 6310 - shows us support. if it breaks, we go lower Looks Good? Leave a like, share and leave a comment....
BTC Likely to drop a level. Could bring us to a local downtrend. If it rallies, will retest 6400. Need to gain 6400 here pretty badly.