📌 What have we got in play here?
On the news flow Paypal does matter but it was expected and is done at the right time if you ask me. I mean the retrace here will be healthy, to trap the late buyers who are unaware thinking its non-stop-moon while also opening an attack on the previous breakout traders at $11,500.
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If it falls, you need to see if you can get support at the uptrend line (5).
BTC broke out of The Ascending Triangle Just Like We Expect It To Do. Target HIT!! Look At My Previous BTC Chart For Reference)
A Slight Correction Is Definitely Expected, Then A Consolidation Before Moving Another Leg Up
*However, Bitcoin Is Also Probably Forming A Double Top Which Is A Bearish Formation
LET ME KNOW WHAT YOU THINK! 🧐
💡 IF YOU LIKE MY...
📌 Bitcoin - October 2020
Well done those still holding longs in what has been a rather slow but simple grind higher. Buyers could have developed quicker according to the flow models but we maintained flexibility.
Next comes the wave 3 target at $12,364. And buyers are not...
The move from 12.5 K to 9.8 k was a zigzag correction. The current move up might not be bullish but in fact a B wave in form of a another zigzag. Possible reversal at around 12.4 K. If it is a B-wave, we should see a 5 wave move down to finish a flat correction on larger timeframe. Target for the c wave down will then be at least 9.8K.
Sure the move up could be...
Slowly but surely this is approaching my target price. Watching the position carefully, while waiting for another $12k test, trying to avoid unexpected dumps.
Stop loss set in profit.
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Information is just for educational purposes, never financial advice. Always do your own research.
Our BTCUSD daily analysis based on Elliott wave pattern suggests more weakness ahead from current levels. We can afford for some more strength very short term, but overall the 11800-12000 band shall finally trigger a new down leg. This one shall see a successful retest of the 9000 area, followed by the resume of the long term underlying bull trend. This bull...
I love it when BTC goes for a walk.... cheap cheap coins on sale here with buyers back from their vacation. Moreover they have their eyes on the $12,000 highs which they seem too fancy.
📍 And here for a change of scenery we shall dig into the LT macro chart. The multi year...
In Bitcoin, a slight loss of momentum is observed in the volume-based On Balance Volume Indicator.
When we look at the relative COT Positions (for which we chose some distant past)
While the price is up 55%, positions are not at a level to support it.
But it would be more robust to see a similar mismatch from the recent past.
Here, in the first place, we will...
Hello! Welcome on 1h update: Price formed a triangle shape and now collecting liquidity towards short-term retracement. Expected pullback zone near 10900-11100 levels.
Do not forget to protect yourself from losses.