in my last post i shared a potential short term bear case, but the rejection from the important algo target which was mentioned was extremely weak, which leads me to believe we're going higher.
still very possible we're in a larger a-b-c, but it would have to be an expanded flat at this point, which would end closer to 72k before the final flush...
Bitcoin has broken through its current pennant pattern (marked on the chart with green lines) and will be looking for a new all time high in the coming weeks, perhaps even days.
Usually the trend will come back down and retest previous resistance levels (marked with the top green line on the chart) to see if it can find support. If it does, this is a bullish...
As you can see the PINK line is the 140 SMA on the daily time frame. It holds a lot of weight.
Bitcoin is currently on a downtrend even on the weekly which always results in a big drop, and we are just holding support on the 140 DMA.
If you see a drop below and specially a closure, you can expect a minimum of 10% drop.
Hey guys. I've spotted some nice indicators on the BTC charts and they do appear to be lined up well so I feel more confident in more upside continuation.
MACD suggests a small pullback , HOWEVER , RSI is showing some bullish divergence... THEY CAN BOTH HAPPEN and I think they will.
So as you can see on the chart, this has a good chance of creating a nice...
Last week's BTC fight has been tremendous, as it manages to *uncross* the VWMA / SMA50 with a 11.67% rally over 7 days.
As the bullish Golden Cross structure is now still back to active (VWMA > SMA50 > SMA200). I do think this is set to continue in the current week.
Breakdown AND close below the trendline (42k) at the end of this Weekly candle, and...
good morning everyone, pardon for not having any updates these last few days - had some technical difficulties with my pc, and just got it back today.
so, let's talk about my btc post from july:
i predicted a move up to around 50k back from the lows in july, and we're here right...
💡 Hello everyone, if you like my idea, follow me with likes and comments, I will also try to share the best ideas with you, Always do your own research before opening positions and always put stop limit.
-BTC is up 25% over the past month
-20MA has acted as support since the bottom in July
-Price has formed a curve which shows breakout in 1 week or less
Bitcoin has been having trouble tackling the $50,000 mark over the last 2 weeks. After prices surged off the bottom of $29,000, BTC managed to rise nearly 75% in less than a month. Since then, BTC has been steady...
The rule of Alternation:
There is a general tendency for the pattern of the two corrective swings in a completed 5-wave sequence to alternate between a simple (very often an ABC) correction and one of the more complicated or complex Elliott corrections.
The law of alternation states: if wave 2 is a simple correction, wave 4 will be complex. In the contrarian...
No this title isn't clickbait - I think I genuinely figured out what the pitchfork is going on around here.
>I might be late to the pawrty, but from my perspective, I am right on time ;).
That odd move from 6\22~7\4 seriously threw me off, and I bet I wasn't the only one who was caught off guard by that peculiar structure.
It was a leading diagonal 😅!
since most of the liquidity goes through binance, this will be the primary chart i will be using going forward. previously i was using the kukoin chart, as that's the exchange i use, but this morning i learned that nothing else matters except this binance chart.
this last move on july 31st from 42885.28 ---> 37915.50 caught me off guard, and i bet i wasn't...
-BTC has revived nearly 55% off its low
-Price has just kissed the 200 day MA
-A long term trend line may cause rejection
Bitcoin has finally broke out of its 2 month range that bears has continuously kept price within. This is a great sign for the overall crypto market as the majority of coins have followed BTC’s lead and have revived strong off their lows....
I wanted to give you all my honest opinion on this move, and how i feel about what is happening right now.
This is an inversed chart on btc, inversed to make this as clear as possible.
From the highs of 64k, we saw 5 waves down - with the last wave seeing a truncation.
5 waves down is not a correction, it is an impulse.
Corrections generally move in 3 waves...
look for this wave 1 to top out at 45.5k
that's also where the 200 daily simple moving average is, perfectly in confluence with our sub wave 5 target to put in wave (1) on a higher degree.
from there we should in theory see a mean reversion for wave (2) to about 34.7k
the alternative is btc will have a flat correction, similar to last year, where it will move...
Btc made breakout as expected bullish divergence played out we got strong implusive movment.
So basicaly around 40k i expect pullback to 38.3k which was big resistance expect to retest it to make big support zone that will be area where we are gonna look to reentry and ride it easy to 40.7-41k if break these level we can see 44k or even 46k. This is for traders...
I have been doing a lot of thinking about this move, and all of the psychological components which came with it.
The best way I can describe what has been happening recently, to put simply - is a very complex phase of distribution.
Would explain the extreme spikes in volume, the overly volatile moves which don't seem to make much sense at times, and this obscure...
Retesting 'range-high' from above after the breakout..
Looking for it to show strength & hodl/bounce from this area as continuation toward 45K+
Crossing above Ichi cloud for the 1st time since May (bullish)
~25% up since 1D UCTS Buy signal
Let it run