Bitcoin has hit the 50 day MA today after $900 million has been liquidated. This has caused bitcoin to start forming a second shoulder in a head and shoulders pattern on the 1 day chart. At the time of writing bitcoin is $49,000, following the head and shoulders pattern bitcoin could see $55,000 before further plummeting to $40,000. However, if bitcoin rebounds...
Just a quick analysis on BTC.
BTC is forming a second head and shoulders pattern. as we saw last time it dropped dramatically and if it continues to form the second shoulder it will fall by 36%. however, as lots of people are now holding BTC in cold wallets which removes liquidity I doubt the bears will be able to push the price down 36%.
I have seen similar...
80k seems like a decent target for the next step up! Due to an increase of energy costs and covid cases spiking up in a lot of countries november will take us to that target in my opinion Btc price is holding on to a strong trendline! Taproot upgrade coming up for Bitcoin network!
After a week of action, we are in the zig-zag zone - GBP44k for the Bears, and GBP 46k for the Bulls. I see a lot of chop-chop action ahead. Could be a good buying point for longer-term HODLers. New BTC news is unlikely for a while - but this is crypto so you never know
Take a look at the price action of Bitcoin from Febuary 2019 to Febuary 2020 and then compare it to Augusy 2020 to October 2021. I have done most of the hard work so you don't have too. I think Bitcoin is about to correct hard.
BITCOIN (BTC)
15 MINUTE TIME FRAME
SUPPORT TEST
Bitcoin away to test the support again, Here's hoping its breaks through and pushes onto £60.000 haha
Also it looks like its about to make a TRIPLE TOP PATTERN so we might get a down trend before it rises up above the support.
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If you have any questions please feel...
Im expecting price to drop further down because A break of Structure out the trendline has occurred, also note below on the RSI price has broken structure has well, however know this, im not giving any advice how to trade in this pair just sharing my thoughts on it only, so with that been said, Trade Wisely.
BITCOIN
1 HOUR TIME FRAME
LONG POSITION
Bitcoin looks like it is going to come down slightly before rising back up .
If you like my analysis give it a thumbs up.
If you have any questions please feel free to leave a comment below or send me a direct message.
SolarFX
BITCOIN (BTC) / GREAT BRITISH POUND (GBP)
1 WEEK TIME FRAME
LONG POSITION
What's your opinion on bitcoins support break through??
Do you think its on its way to £50.000??
Feel free to leave a comment below.
If you like my analysis give it a thumbs up.
SolarFX
COINBASE
