After a level break, a “primary impulse" appears. This impulse is created by short players (since their stops placed there) and new buyers who saw a breakdown, as well as robots, catching such patterns - primary impulses. The price rests in the zone where placed some huge number of limit orders. On BTC it's near $10400. This zone absorbed the momentum. And then we...
As you can see, we have 3 points where price growth has stopped, reached its peak, and then dropped again.
Given that the volume of transactions so far has reached half the volume of yesterday and will probably exceed it, so we predict that we will have a downward chart and the price going down again. probably between 8200 to 8500.
Expecting we will hit soon the 7700 /7800 or below.
Depending on the mx trend bitcoin should hit that rage before we can think about the healty increase.
- the increase we seen now depending 100% on whale MANIPULATION , and as long order you dont want take the risk to lose the assets on this way.
I expect it will not take to mutch time before we will see the...
Good morning everyone and welcome to my daily analysis of Bitcoin. Today I have the daily pulled up after a pretty nice evening of pump action. Nice work bulls. We eclipsed the top of my fib and it is currently support for now... I still see some key hurdles we need to hop over to keep this momentum going. We will look into these during this analysis. So sit back...
Due to the fact that the price dropped very quickly, it was able to drop up to 62% of Fibonacci
At this level with a price return and Kandel Hammer
The probability of falling is up to 78%, but it depends on the waves that will be created
Prices will play around this
But again, we think the trend is upward
If to be honest i must admit that i was not expecting breaking of triangle upside.
But this is bitcoin and we need to focus according to the movement.
I will not call bull run, or moon or bear or whatever before to check the following:
Seems we started new uptrend but needed confirmation by retesting 9650-9800 area.
If it confirm we can run to...
We are in the ascending channel
The long-term resistance of 10200 and 10500 must be broken
If we fail to resist, we can reach the $ 11,000 and $ 11,200 targets
But if we lose the support of 9900, 9800 and 9500, so that we have a price drop at the bottom of the canal, and our downward goals are clear.
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Nothing really changes since my last macro analysis :
The only thing that changed a bit is sentiment, which is currently more bullish, which is good sign for bears, but still I think we need to get above previous high at 10500. Imagine anybody who is currently in...
Due to the RSI as well as the trend line and the support that has been provided, there is a possibility that it will rise to 10,500. But strange things always happen in this market. That's why always consider the Stop loss.
These are just my ideas. Analyze and think before making any decisions.
goodluck my friend
RSI comes under 50 and seems to be bears are working hard but it should get some rest first
After that fake pump and fake dump bitcoin going to have some correction and pullback to 3 targets 9680 and 9820 or maybe higher around 9950 . I opened my position at 9450 BUUTT it was too risky at these days of market because whales were too busy and its not a good idea to...
Bitcoin is, for the third time attempting to break the resistance between $10,000-$10,500.
Breaking this resistance will mean making a new high for BTC this year.
Based off of the previous bull run, we could expect the next resistance to be at $12,000.
Should this resistance hold, we could see the price dropping to...
A case study. Making higher highs within a reasonable timeline while diverging significantly on RSI.
Was clear that we were not going to moon. And I, as have stated in my other posts, believe we will test ~$7k.
Best of luck traders.