As expected, BTCUSDT entered an uptrend channel which could easily lead to a bearish rising wedge on the 4-hour:
But we are not there yet. If we are zooming into the 1-hour, we will see room up to 3960 $ levels at around Christmas before the weak momentum and volume gives bears back the upper ...
Enter long at 3348. Short from red, taking profit from green, target blue. As always used heikin ashi reversals for pitchfork. However, as I'm expecting a bullish trend I used tip of green reversals. Rather than my standard bottom of red. Notice short ratio is low too so be cautious of longer term downtrend after short line
Update for Bitcoin:
The current state of Bitcoin is showing quite a lot of similarities than what we saw in June.
Back in then the price already had formed a bullish divergence which many people believed would had lead to an instant upward movement. Instead it got rejected by the resistance level and retested the previous low level which lead to an upward ...
Today we analyze, we see 1 hr chart.
I see things that are good, I see things that are bad.
When we look we see the shock fence of 50ema was recent unplugged! It was crossed by the candles. As you can see now we are back to shock fence action. The fence will reign supreme once again.
Volume has descended! Shorts are coming down a bit so there is no need to be ...
The BTCUSDT by market value picked up a bid at $3,210 three days ago a level last seen in September 2017.
The prices are currently down more than 80 percent from the record high of $20,000 reached last Dec 17.
Further BTCUSDT has depreciated close to 47 percent in the last month, forming record oversold conditions, as a result, BTC has potential to test ...
The Fantastic tool CM_Williams_Vix_Fix Finds Market Bottoms shows at 1W view the biggest support ever in one year.
A big bounce can be possible over 3200/3400k and then a fall to 2XXX -1XXX
My followers knows I dont like repeat charts that you can find in TV.
This is a different view so I post it.
I thing now we will do a big dead cat bounce.