It's been a month since the growth has started, from 17 July to 17 August the Bitcoin showed a significant growth of 65%! Usually, after such a growth, the market faces a downwards correction. Will it be different this time? Let's take a look at 3 possible options:
FIRST OPTION *located at the main picture above*
The most realistic scenario, to be honest. The...
It is foolish to deny that the market is extremely overheated and needs at least some correction before going higher.
At the moment we need to complete the final fifth upward wave of 1-5 formation. Expect Bitcoin to reach $68000 zone before going downwards.
The first stop of the correction will be at $56000 level (0.236 Fibo), then we will go to $42000...
Bitcoin is repeating its spring pattern. We've made a clear chart, but here is the step-by-step text explanation:
1. Formation of a parabolic up-trend with strong upward support.
2. Breakout of the support and a small consolidation below the one.
3. Price rollback above the support to the previous values.
4. Sharp pump above the strong horizontal resistance...
Keep calm, guys. Don’t worry.
One billion dollars of LONGs were liquidated during this dump, but in fact the price fell for only 9%. For example, it is the same as the dump from $9000 to $8200 (for oldies).
All these liquidations were bought by huge traders for a juicy price. We’re still staying above the $17178 level and as long as we there - priority is...
We are extremely high. At the moment the price is $18200. A few hours ago we could witness a huge "scam wick", but taking another look at this candle, we understand that it was a simple re-test of the historical $17178 level and now it acts as a strong support.
Only 10% of the price movement set us apart from the new ATH. We expect to see a continuation of the...
So, we have the following situation — Bitcoin can easily form a bearish divergence on a monthly chart if the candle closes above the $16400 level.
There are two possible options:
1. We use the rest of November to pump as high as possible, then divergence will be formed and December would be bearish for Bitcoin that will correct after such a sharp growth
We've closed our SHORT position at $11500 point in break even zone and didn't open any position since this time. Now is too early as well.
Reason — opening LONG is still too risky. Yes, the ascending channel was broken upwards, but we still have a strong resistance zone between $12400 - $12500. Probability of huge red candle from this area still exists and it is...
The price has formed an ascending trend line. We expect to see another touch of the one thanks to Bitcoin dump (that we expect as well) .
We highly consider entering LONG position at the point 4, cause then we must see a breakout of the $395 resistance and then moon.
The price is forming an inverse descending triangle - bearish pattern. There is a resistance at the $0.23785 level and the support at the $0.2296. The zone between these levels are good for entering SHORT position.
The support of the $10750 was broken - very bearish sign. More likely we will see a re-test of the $10750, but it is also quite possible to see an upward spike to the $10820 point, so the stop loss of a SHORT position should be placed slightly higher.
Good entry zone in SHORT position is $10655 - $10750, targets are marked on the chart.
Straight out the gate - we don't hold any position on Bitcoin right now. This update was made just because we receive dozens of requests.
As you could remember, there is an important level on #BTC - $10400. The price has sharply reacted on this level multiple times. Now we can see that it was rejected from there, again.
Priority is downwards (very locally), the...
We expect to see flat movements on Bitcoin in the near future. Why? $12000 turned out to be a too strong level for bulls to break out, from this point we got a massive dump to the $10500 support.
What do we have now? Bulls are protecting the mentioned support level but don't have enough powers to go upwards and break through the $12k point. So, more likely we...
Everyone got shocked today because of the massive dump appeared on the market. Bitcoin dumped from $12000 to $10500 which is 15% decline. But not everyone remember that the same situation has already happened.
Let's remember May 2019 , Bitcoin has been growing sharply but suddenly dumped from $8400 to $6600 which is 27% decline. But then the price has come...
- $BTC didn't close monthly above the $10000 for almost a year.
- $BTC didn't close monthly above the $11000 for almost 3 years.
Many of you joined crypto space in 2017, do you remember what did we think about reaching $10000 that time? It was unbelievable. What about now? We tell that Bitcoin is cheap when it cost lower than $10k.
Interesting, what normes...
The silver chart located on the left shows how the price recovered from the dump caused by the Coronavirus. The Bitcoin chart on the right shows how the price is exiting the boundaries of the resistance it couldn't break for an entire year.
After silver went above the resistance level, it was sharply sent upwards, because everyone understood that a new...