Head and Shoulders forming before moving upwards ?
It could be possible that we will see a retest of 4800 - GREAT ACCUMULATION ZONE
Sentiment is Bearish (as Fuck) overall what means price will move up soo (capitulation). We have (or almost have) reached bottom. Miner Capitulation zone ?
We are close to halving, and on a perfect timeline. In tradition, price...
After we have seen this massive capitulation in the BTC market (institutional/speculative money got out?) i am pretty shure we will go up soon.
Maybe there will be some sideway action untill halving in May (or 2-3 weeks more).
This would be nice for some more accumulation time.
- Time is getting short, printers of the FED are turned on.
What caused recent price movements?
Corona Virus - as people calm down, price will calm down
Iran war - if they can find some politican solution, price will correct down
Why i dont turend bullish yet?
As you see we have a giant bearish rising wedge. BTC seems to be out in thin air.
RSI is high. the upper resistance in RSI is flat, while price is spiking...
Why nobody see this???
If price stay in 7800-8200 levels a few more days (2-3 weeks maximum) , we could most likely see a deathcross like 2018!!!
To break downtrend at the moment, we need a lot buyer pressure, but buyers slowing down while sell pressure is very strong as closer to 9000 we go.
Remember - we stuck in a downtrend since 7 Months.
- no investment advice
As we can see, SMA 144 and SMA 21 crossing, could take some time to break. I guess BTC to reach 7200-6800 till end of January.
CAUTION: if this happens, we will soon have a "death cross" which will lead to another selloff to 5300.
--> no investment advice
We got sharp rejected 3rd time. Can see similarities to last rejections. (lower high not even reached trendline)
BTC shorts soon find a bottom, while BTC longs decreasing hard (dump)
(see pictures in comments below)
expect sharp correction and increasing shorts in near future (5-12 days),it seems a few weeks (or months, POV) too early to turn bullish.
Stay safe !!! --> NO EUPHORIA
BTC volume is very low !!! --> sell pressure will increase soon
Trend is very unstable !!! --> trend could change immediately
Still in strong downtrend !!! --> downtrend far away from getting broken
In this weekly chart you can see BTC fight inside Bollinger Bands, in the lower band part between middleline and outside. If you change to monthly view, you see the downside Pressure from upper band to BB middleline.
ADX trend is at at the weakest point since April 2018 which means the market is without any straight...
Bitcoin - 2013 history is reapeating itself !!!!
updated version with 2013 and 2019 chart
If you compare 2013 chart (upside) to actual 2019 chart (below) you can see exactly the same movements, just in slightly different time-frames.
This would support my other analysis, which give us 3-4 more months for buying, before...