Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
From a long-term perspective, BTC is overall bullish trading inside our green channel.
Moreover, the green zone (10k - 12k) is a resistance turned support.
We are in a correction phase, but the question is, till when / where?
Let's compare this correction to the previous two...
A couple of days ago I made an analysis on my expectation about the price movement after Wednesday's FOMC meeting. The initial move was bearish, as expected, but the $18.5k support area held stronger than initially anticipated.
Most striking was how BTC held it's price relatively stable, while the stock markets faced heavy sell-offs after the FOMC. To me, this...
Interconnectedness of waves
Measuring the impulsive bearish wave
Fibonacci channels determine the wave of potential and limits such as support and resistance in respect to cycle timing.
So if the price falls AGAIN establishing wave 5 that would definitely create the critical disbalance in the market so that bulls will take over temporarily to complete ABC pullback.
Hello everyone, if you like the idea, do not forget to support with a like and follow.
Welcome to this exclusive BTC update. Read the complete analysis carefully. I'll try to explain everything in very short and simple way. Before get to the analysis, I'll tell you this analysis is based on 2018 bear market fractal. I'll add the 2018 chart below so check that...
Head & Shoulders Formation in 1D timeframe..!!
So far Bulls have been Defending the Support but In Worst Scenario, If Daily Candle Closed Below the 18.5k Crucial Support then Bitcoin Might REVISIT the 14k Support Area.
Bitcoin Bulls Need to Defend the Crucial Support..🦾
I will start by saying that I'm not an eternal optimist when it comes to crypto, in fact, I was very bearish in the past year and I didn't call for a bottom on each support starting with 60k. In this case, though, I think we are pretty close to a bottom if we didn't already have it.
Let me explain.
First of all, Bitcoin is staying in the 20k zone for 3 months...
Bitcoin is forming this similar 2018 Descending Triangle pattern. This was the pattern that lead up to a major capitulation. If this pattern is correct, then that means there's still a good amount of time left until the major capitulation. Probably at least a few weeks.
Chart shows historical price of Bitcoin adjusted against both the Global Commodity Price Index and M2SL, and may serve as a visual aid to illustrate Bitcoin price adjusted for rise in commodity prices while taking into account increase in money supply.
This chart therefore accentuates and magnifies the recent downturn by taking into account both rising commodity...
I started by taking the difference of differences between the (100w and 20w) and (50w and 20w) EMAs. Thats the blue line. I then took the derivative of what I just made twice. 1st derivative is //'d since I thought the 2nd was more interesting.
If Btc trades in the 1.272/1,414 extension window I will be looking for price action to get long. That price action would include a pin bar, engulfing bar or inside bar. In addition a 2 /618 double bottom or low time frame harmonic would also trigger the pattern. I will update price action if it gets there. Please note the double daily inside bar that a break high...
Bitcoin (BTCUSD) has been trading within a Falling Wedge pattern ever since the August 15 top. This analysis is on the 1D time-frame but we do incorporate the 4H MA50 (green trend-line) and the 4H MA200 (grey trend-line) to help us understand critical Resistance and break-out level.
** The Falling Wedge and the importance of the 4H MA50 **
What stands out here...