As we mentioned in previous analysis bitcoin had a fake breakout and started a new correction phase after a new all-time at 67K:
Strong supports ahead:
A. 56000$(0.38% Of Fib)----also there is local support on 60K at 1H charts----
Just simple TA mechanics. Price action in a rising channel rejected from channel resistance after having completed a bearish harmonic, will retrace to the channel's support which is at the 1.276 extension. The 0.786 is strong support, price might bounce there and continue to the bottom of the channel. RSI topped and broke diagonal support indicating a local...
At first hello to haters who hate me in my previous BTC idea
All you should understand that markets and BTC cant grow forever, its necessary needs a corrections.
Btc grew from 41k to 67k without corrections and now it starts.
I will open short when price will retest a resistance line (in past support line).
And If I will take SL, its will be okay for me,...
On the smaller timeframe we have a falling wedge breakout and we are searching a 4 H HL.
Preferable we set the low here and break the high to set the daily higher low.
The question then is if we will set a daily lower high or higher high.
Currently we bounced from the 12EMA which is in favor of the bulls.
I expect a green sunday
Thanks for taking your time to...
Bitcoin is still doing corrections, and now it's sitting on support, the only local support I found.
After some consolidations on this area, we might see some moves for pumping back up. However, there are 3 resistance levels on the way up, which might slow us down. Just like now that the price is fighting resistance.
Right now we can see buy volume running on...
As we can see Price is still near resistance zones here and also channel high is still providing some sell pressure:
Now price is still below the blue trendline and we can expect more fall here unless the price break this trendline then only after...
People are focused on the 4H charts and forget to see the whole picture of this correction.
Potential set up but YOU HAVE TO WAIT FOR THE MARKET TO DEVELOP!! (put a position at the end of this set up - no short positions right now!)
A Running Flat Elliot Wave correction is when the wave B will travel past the beginning of wave A.
Then, wave C will retrace more...
Big Daddy has so much room to move on the monthly. It's in a real good position to have a strong monthly close in current pa continues.
Right now up against 3 day candle yo-yo which took it down to 59.8k but rebounded strongly.
However I am noting: we are at the mercy of the 12hr so could pull back to 58.3k zone or worst case 46-50k before going back up. (big gap...
Welcome to this quick BTC/USDT analysis.
I have tried my best to bring the best possible outcome in this chart .
BTC is trading around $61.300 the support is $60000 and 100ma and resistances level is $63000.
I thing the price cam pump fore here .
If its breaks the $60000 and 100ma support level then the chart will be invalid.
Sorry for my English it is not...
As you see the chart above, I think there is 2 other scenarios which tell us:
1. I want to form an "expanded flat" pattern
2. I can be a "running triangle" pattern too
So due to the scenarios above, a huge bearish wave would be appear on the chart.
Head and Shoulder + 0.66/.681 + 2 parallel channels + daily level on the 64k - 64.4 will act as resistance and from here it will drop. After that, I expect the (C) correction to be around 57k (daily level + 1.681 + .382 + 1-1 Extension + support last week + 2x .786), so I expect this to hold and go up from here. Also, I used Fibonacci Time to measure the move and...
Bitcoin rejected from 67k, 1k shy from my previous target. TOTT kicked me out at 63152.65 as i tweeted in real time. Nice catch so far, but i should have taken profits earlier before TOTT, next time i'll do that.
As per technicals, 8 hours in to the weekly close, Bitcoin is trading right below the weekly open at 61532.17 forming a doji candle. This looks...
Hello dear traders
the Bitcoin has broken its trend line on the top
and now it has completing its pullback on the
broken channel, So it can rise this here and
we can take long position in this here and then
take stop loss below the support zone.