As we can see price is forming a strong reversal pattern and if this pattern gets completed we can expect a huge dump for Bitcoin.
Only after breaking the neckline that is 60K support price can fall hard else if these local supports here remains valid we can expect blue range zone and some more range here.
DISCLAIMER: ((trade based on your own decision ))
Bitcoin is currently facing some bearish pressure. This move is all but surprising, since we had a 60% move in around three weeks.
This analysis is to showcase that there might be more pain in the market for Bitcoin. When looking at the Fibonacci retracement lines, the "ideal" reversal area would be between the 0.382 and 0.618 retrecement lines, which range from...
There's always a shakeout before a rally.
Just stick to the plan, survive, and don't get shaken out.
BTC breaking below 60k was bad news no doubt but after this shakeout, I expect a good rally in BTC.
The only level that could invalidate this run IMO is 52k.
Which is still far from CMP.
BTC must follow any of the two given scenarios in the chart.
Either a bounce...
Bitcoin is seeing some very bearish signs on the weekly chart. We had just seen 3 white soldiers pattern end with an ATH blow off top and grave stone doji. Historically this has marked the end of a run up.
Will it be the same this time?
In my opinion, I believe so. We are seeing a lot of bearish divergence on MACD/RSI. As well as bearish price action...
Head and shoulders played out as predicted yesterday. Hope you heeded the warning and brought up all your Stop Losses as Alts have been severely rocked with 5-10% drops in almost all markets as volume has drained from them with BTC spiking back up to 45%.
As anticipated support has been found at the 20EMA although it currently looks unlikely to hold with the...
BTC /USD bulls remain focused on upside retracement levels and areas of potential technical resistance including the 67146, 68515, 69449, 71974, and 73245 areas. Following the pair’s recent gains, downside retracement levels and areas of potential technical support include the 63784, 61796, 60189, 58581, 56593, 57627, and 56293 levels. Traders are observing that...
BTC Bull Run 2021 Phase 2 is still going on
Now that we have been up only for a while this may be the time to punish some Longs.
I don't think this is the end yet, and I think we can retrace heavily to 53.7k and even 50k without losing the overall bullish structure.
That being said there are plenty of other Factors.
In the Video:
I go over BTC, BTC...
In 4H Time Frame, as I said, the second scenario, the fall to the range of $ 56,000 to $ 58,000, occurred. The trading volume is very high, and this range can be a price floor. Look for buying positions on Altcoins. Be patient until the fall ends and enter by increasing the volume of transactions.
My stop got hit and thank god it did right before the crash. That's why i always use a stop loss along with my beloved TOTT indicator. BOTH has saved me from this crash for different positions.
Remember when TOTT first fired the sell signal? It was 6 days ago at 63.152 when the first sign of weakness occured. It also triggered during this dump, so the dump...
According to head and shoulders pattern the target should be around 54k-55k next to 50 moving average. This should be a good area to go long. I believe that we will reach at least 100k$ in December, thanks to inflation.
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Welcome to this quick bitcoin update. First of all, don't panic guys. This dump is just for swiping out the high leveraged positions from the market.
BTC is still fine and bouncing from the $57.5k support zone. In my previous update, I clearly mentioned that if BTC doesn't...
On the Bitcoin chart, as expected, the price dropped to 58K. This is a strong static range and if the price wants to return, it must start growing from this range, otherwise if this support fails, the next support is in the range of $ 52,700 to $ 53,500 ...
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⚠️ This Analysis...
So we've got the sell off that we were expecting and more from yesterdays market update on YouTube.
Prices broke through the 100 MA and fell perfectly into the $58000 order block that would act as next support once the 100MA had been broken.
The next order block below is lining up nicely with the 0.382 FIB on the Weekly timeframe so we could see...
here's my idea in a minute.
BTC had a major corrections in this month, many may have reached their target since around 40,000.
and also we are seeing a little bit start of the alt-season which may give us the clue that majority have accepted the BTC price range not to go further.