The current upsay has all the signs of being formed into the final retracement for wave D,
in a 5-0 reversal pattern,
provided that the price does not go above $ 45869, which is the classic rule put forward
to the formation for this pattern,
where wave D should end 50% of the retracement from wave C
and fit into the...
Hi @everyone, so here is my thoughts on BTC today ( July 31, 2021 @ 11:43AM )
- The price of BTC is still in range, currently at the resistance level, if this break the 41k resistance level, we might see a push to the down side, but that doesn't convince me for a bull market recovery as I still need to see a breakout to the upside from 50k level.
- Looking at the...
Bitcoin managed to break above 42k and we are retesting the important resistance level right now and it seems that we get a daily close and confirmation above. You can make the case that this is a cup and handle with a target of 54k. If we reach the target we are maybe consolidating a bit or forming a bull flag. I think that if we can hold above this level we are...
So Previously The trend was uptrend, As you can see in the chart or Previous Updates but now the Sideway Trend is Going on. I have set a resistance and Support and they are type of strong but the thing is whenever btc drops its testing support every times. Either it can break reisitance and fa upto $34k or it may go upto $42k lets see. Foow For More
In this analysis, it appears bitcoin is following a previous schematic from 2020's May > July Wyckoff Reaccumulation before breaking up to where it appears we're repeating the same schematic again yet again.
If this plays true, we'll have a few weeks of a small % movement sideways trading range.
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After some simple research I found 3 indicators which are very easy to read and help opening long or short positions
1) RSI (shows if the coin/stock is oversold or overbought in a specified timeframe)
2) SuperTrend (Indicates Buy/sell signal )
3) Backtest Single EMA cross (trend lines and buy/sell signals)
I'll update if any better indicators is found.
I thought i saw something.
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The second post on making about bitcoin and I'm really worried for people holding holder that bought at the very top do not panic as there is a alot of buying pressure at this supply zone on the very bottom where banks and big players want price to be
In crypto the derivatives market accounts for the most volume so it's important to be aware of the dynamics of that market.
There are two types of contracts that are very popular: the perpetual swap contracts and the classic futures contracts with an expiration date.
The main difference between the two is that perpetuals are continuous contracts on which, in...