WE HAVE JUST HAD A BOUNCE OF THE LOWER SUPPORT LINE AND WE ARE NOW TESTING THE RESISTANCE LINE OF THIS SYMMETRICAL TRIANGLE AGAIN. IF WE BREAK WE COULD SEE A BULLISH TARGET AROUND THE $17000.
THIS PATTERN IS BEARISH, ONLY IF WE BREAK THE BOTTOM LINE. AS LONG AS THIS LINE IS NOT BRROKEN, THE PATTTERN IS NOT VALID.
IF WE BRAEK THE STRONG RESISTANCE, WE COULD SEE A POSSIBLE PRICE TARGET ROUND THE €3600.
BEARISH PATTERN ON 30 MIN CHART PRICE TARGERT AROUND $14800.
WILL WE GET A FINAL PUSH TO THE UPSIDE OR WILL WE FINALLY GET A DECENT CORRECTION BEFORE FURTHER UPWARD MOVEMENT. BREAKOUT TARGET BULLISH: AROUND $15000 BREAKOUT TARGET BEARISH: AROUND $12200 (FURTHER MOVEMENT TO THE $12000 IS POSSIBLE)
OUTBREAK TARGETS FOR THIS ASCENDING TRIANGLE ON BITFINEX. SOMETHING TO KEEP AN EYE ON!
SHORT TERM ANALYSIS; PRICE TARGET IF WE BREAK UPWARDS BETWEEN $13600 AND $14000 PRICE TARGET IF WE BREAK DOWN BETWEEN $12000 AND $11500
WE CAN SEE THAT BITCOIN CURRENTLY IS MOVING IN A SYMMETRICAL TRIANGLE; BULLISH BREAK-OUT PRICE TARGET: AROUND $ 13600 BEARISH BREAK-OUT PRICE TARGET: AROUND $ 7600 ATTENTION! THIS IS THE BLX CHART, THIS CHART COLLECTS ALL OF THE EXCHANGE PLATFORMS PRICES TOGETHER AND MAKES AN AVERAGE OF THIS.
LOOKS LIKE WE ARE MAKING A RISING WEDGE ON BTC. THE BEARISH SCENARIO; PRICE TARGET AROUND $10200 THIS WOULD PUT US AGAIN IN THE SUPPORT ZONE BETWEEN $10000 AND $10500. THE BULLISH SCENARIO; PRICE TARGET AROUND $11500 THIS WOULD PUT US INTO THE PREVIOUS RESISTANCE ZONE BETWEEN $11500 AND $12000. IF WE LOOK AT THE FIB LEVELS WE CAN SEE THAT THE GOLDEN POCKET...
WE BROKE THE ASCENDING TRIANGLE ON THE 1 HOURE CHART TO THE DOWNSIDE. NORMALLY, THIS PATTERN IS A CONTINUATION OF THE TREND. THIS WAS NOT THE CASE HERE. IT COULD BE A FAKEOUT OF COURSE, TO PLAY OUT THE BEARS. BITCOIN HAS TENDENCE TO DO THIS A LOT. BUT LET'S STAY OBJECTIVE NOW; WE BROKE DOWN AND TESTED THE LOWER TRENDLINE OF THE TRIANGLE AS RESISTANCE. THIS IS...
THIS IS MY SHORT TERM SCENARIO FOR BTC. WILL WE SEE A BREAK OUT FOR A TEST OF THE 50 DAILY EMA? OR WILL WE SEE A BACKTEST DOWN FROM NOW ON TO MAKE A DOUBLE BOTTOM? IMPORTANT! THERE IS A DIVERGENCY ON THE RSI ON THE 4 HOURS CHART. THIS COULD PUSH THE PRICE DOWN.
WE HAD A BREAKOUT TO THE UPSIDE OF THE ASCENDING TRIANGLE PATTERN. WILL WE SEE A PUMP ALL THE WAY TO $11200 BEFORE GOING BACK DOWN? THIS IS MY SCENARIO!
RISING WEDGE IN THE MAKING ON BTC / USD. WHAT CAN WE EXPECT? BULLISH; WE CAN HAVE A STRONG BOUNCE ON THE BOTTOM OF THE SUPPORT BOX (GREEN). THIS WILL BE SEEN AS A FAKEOUT OF THE PATTERN. WE SEE THIS KIND OF FAKEOUTS OFTEN ON BTC. IN THIS WAY THE LIQUIDITY IS SEARCHED FROM BOTH SIDES. REMEMBER, THE MARKET ALWAYS WINS. IF WE HAVE A BOUNCE WE CAN EXPECT A PRICE...
THE QUESTION EVERYONE IS ASKING, HAVE WE REACHED THE BOTTOM YES OR NO? IN MY OPINION THIS IS STILL NOT ACHIEVED. HERE'S WHY; CME-GAP: ALTHOUGH WE HAVE ALREADY TOUCHED THE CME-GAP, BUT IT IS NOT FILLED YET. IT WILL LIKELY BE FILLED, IN THE NEXT HOURS / DAYS. DAYLY RSI NOT YET IN OVERSOLD AREA: WHEN WE LOOK AT THE PAST WE CAN NOTICE EVERYTIME WHEN WE HAVE...
ARE WE GOING TO GET A BOUNCE FROM HERE OR WILL THE USD MARKET PULL US FURTHER DOWN?
WILL WE FINALLY BREAK OUT OF THE SYMMETRICAL TRIANGLE AFTER THE TWO FAKEOUTS? IF THIS IS THE CASE WE CAN TARGET A PRICE AROUND $13,000. IT CURRENTLY LOOKS LIKE WE WANT TO BREAK OUT TO THE UPSIDE, BUT THERE IS A LOT OF RESISTANCE AT TE MOMENT. ONLY IF WE CAN CLOSE A CANDLE ABOVE THE TRIANGLE AND THEN RETEST THE UPPERTRENDLINE AS SUPPORT AND BOUNCE FROM IT, WE WILL...