This descending broadening wedge can be reversal for the short term while the shorts are extremely high which is what the exchanges and whales look for, to liquidate such high shorts numbers.
Its a likely scenario to go bullish short term.
It has a 35% chance to the upside and 65% to the downside because of the downtrend.
If we were on an uptrend, we...
what is the meaning of title ?
we are talking about Fibonacci retracement levels and now price is on 0.5% of Fibonacci level and it can rise now
or we may have some more correction to 0.61% of Fibonacci and then pump.
if and only if 0.61% break (green zone on chart) then again we may have more correction ahead .
But technically we are looking for some bull...
Our updated Bitcoin chart.
Price going sideways looking for direction.
You had been warned
☝️ fomo invites short term buyers,
pigs get slaughtered on high leverage,
price drops and hits (5) target,
btc bounces back up and goes sideways (broker's paradise)...
so far SPOT ON! Thoughts and comments?
The price of Bitcoin has formed a flag continuation pattern on the daily time frame.
This pattern is ready to move to the downside as the 20 EMA was tested, meaning it has performed the oversold bounce successfully.
Alternatively, the price could be printing a descending triangle pattern with the same bias to break to the downside.
A break below $30000 will...
This descendent channel looks scary. But if we loose the 30.000 support then we would fall untill 20.000 dolars, so this will put the channel on the table.
What is more scary is that we can even test below 10.000...
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Currently, we can see BTC is in correction form and it will give a drop soon but this drop will not take Bitcoin to...
Hi guys, this is OG from CrytopKnights back with another Bitcoin update. If you find value in my work, please do like, share, and comment. And also feel free to share your own technical analysis in the comments below.
On May19th Bitcoin fell to a low of 30K and has been forming a symmetrical triangle. On June 8th, price broke down from the...
BTCUSDT is testing the daily support inside a triangle on the 0.5 Fibonacci level. IF the price will have a breakout downward, According to Plancton's strategy (check our Academy), we can set a nice order
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily...
Bitcoin is now out of the triangle it formed
I expect more price correction
At $ 39,500, we have a static resistance that is hard to break
So I think the best-case scenario is a price decline according to a downtrend, and by hitting the resistance points again we will see the formation of a new pattern
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Your own risk
Hello everyone ! Huge divergences were in the RSI for BTC, shown in RSI indicator. To continue bull mode, this correction was inevitable. Currently we are on the bearish mode and lower highs and lower lows are proving that in the daily chart. To flip to BULL mode, at least in the short term, we need to make our first higher high in daily chart which means we need...