This is a boring time for the crypto market when the King (BTC) keeps running sideways.
On 4 hours timeframe, there is a pennant pattern appeared.
My prediction is noted on the chart.
My 'Triple TRIX indicator' points down, I tend to bearish favor for the next days.
BTC is in the consolidation phase after a massive pump 9 days ago. While the 38.2% Fib. holds the plummets, a rising wedge is also established in the 4H timeframe.
Base on modern chart pattern statistics, a rising wedge on the bullish market has 78% of a 28% advance and 95% of a 14% decline. As a result, in case of breaking out the pattern, BTC has 58% of...
BTC dominance (BTC.D) is expecting to be dropped, a chance for altcoins?
Bearish signs for BTC.D as shown in the daily chart:
- BTC.D violented key support at around 69%, as mentioned in the previous analysis.
- BTC.D can't break the downtrend resistance, established since the earlier of September 2019.
- At the time, TRIX fails to break its downtrend resistance...
BTC loses it's momentum, waiting for short trades.
Many of bearish signs possible appear on the daily chart, including:
- A death cross (MA50 crosses down of MA200) might happen in this month.
- Price gets rejected MA200 and moves sideways.
- Volume is relatively low in comparison to last July-August 2019.
- TRIX6 gets rejected 0 lines and crosses down of its MA8...
BTC shows a strong bearish favor in weekend
After a dump and pump of BTC on Sep. 19, 2019, BTC's price has formed a descending triangle pattern on the M30 timeframe.
Though local resistance prevents BTC to go down, most of the indicators on most of the lower timeframe (H4 and lower) point to bearish favor.
Though triangle patterns are the bilateral patterns,...
XRP will make a strong move next week
XRP has entered a downtrend since mid-June 2019. XRP stopped falling when he reached all-time support and kept moving sideways by 4 weeks.
This local support coincides with the universal support establish in mid-August 2018, stop price falling and might make price reversal next week.
If this support can't hold the price, XRP...
BTC.D shows a strong reversal sign, but it is still strong
BTC.D (BTC dominance) ran as my last prediction, it ended at around 73.5% before having a correction.
A regular bearish divergence between BTC.D and its RSI appeared on the daily chart, forecasts a bigger correction of BTC.D.
BTC.D meets its MA20, strong support that can push it up to near 73% before...
Where is BTC in a macro view? What is key support/resistance?
BTC is in a correction, expected to be 2nd wave. We are just in the earlier phase of a new bull cycle.
I think of a sideway move of BTC this month, prepare for new impulse wave on next month.
Most of the things are on the chart.
BTC looks bullish in short-term (but still be bearish in mid-term)
A falling wedge pattern is possibly forming in a small timeframe, indicates that BTC might have a small jump to test ($10k8 - $11k2) zone another time.
If the strong support since mid-July 2019 fails to hold the price, BTC will test 9k1 local bottom.
I remain bearish in mid-term if there is no...
Will BTC make a new local low this month?
BTC failed to break the downtrend resistance since 20 August 2019, resulting in a big drop to ($9,900 - $10,000) area. If the strong support established since mid-July 2019 fails to hold the price, BTC will make a new low this month.
Though there has a small pumping of BTC in the last hour, however, buying force is...
BTC dominance (BTC.D) continues raising, when will it stop?
Base on a simple Fibonacci retracement draw, we can expect the (72 - 74%) values will be the top of this rise. There was a small difference (about 1-2%) between Tradingview and Coinmarketcap.com's calculation. So the relative values for coinmarketcap.com should be 70 to 72%. We are so close to the...
Where does BTC go in short-term?
After a correction last week, BTC fell to $10k zone with a long wick candle to $9k5. As recommended in the last analysis, the area between Fib. 61.8% and 78.6% would be an ideal buy zone for this correction (previous analysis: ).
From Aug.15th 2019, BTC move forms a (possible) rising wedge...
After 30 days of correction, BTC has finished the last cycle and started a new cycle of Aug. 2019. The Fib. 38.2% level did hold the price well, from now it turns to strong support for the mid-term move of BTC.
An exaggerated bullish divergence appeared on the H4 chart, responsible for the 25% move up of BTC in the recent days, starts the first wave of Aug. 2019...
BTC shows 2 bearish patterns, including a rising wedge and a regular bearish divergence.
Price is expected to drop to $10,000 - $10,250 area, there will be a good place to buy BTC for higher targets.
The supports, resistances are as shown in the chart.
Since earlier of 2019, XRP usually goes against BTC, this time may not be an exception. BTC, ETH, and XRP are the top 3 highest market cap. coins, while both BTC and ETH show bearish in mid-term, XRP shows an opposite trend.
On the H4 chart, there is a falling wedge pattern that appears clearly, indicates that XRP will pump. Besides, XRP did break out the MA50...
Although having a small jump to $212, ETH still can not break the MA50 resistance on the H4 chart. In a downtrend market, we can't be optimistic with just a few dollars pumping like this.
In a bigger picture, ETH runs to the end of the bearish pennant pattern, it will break down this pattern by ~$60 to $160 area. ETH will follow BTC move in the next days.
A bearish pennant pattern appears on the BTCUSD chart, indicating that the pump and dump schemes in the recent days will end up with a flash crash to $8500 area, as mentioned in the last analysis.
Besides, BTC faces strong resistance of MA50 on the H4 timeframe (around $9800), there was a small chance of BTC to break this resistance on the first try. A decline of...
TRX dumped hard this morning after Justin Sun announced to cancel lunch with Warren Buffet due to kidney stones. On a macro view, technically, TRX has finished a rising wedge pattern and a pullback.
TRX is facing 61.8% Fib. retracement, which is strong and universal support. If this support can't hold the price, TRX will lose 50% value from this price. On the...