BitcoinMaximus1

BitcoinMaximus1 Updated 

Since reaching a low on March 13, the BTC price has likely been trading inside an ascending wedge, which is known as a bearish reversal pattern. It is approaching the end of the pattern, which is projected to be on April 9 the latest. I think the price will break down for several reasons: Volume has been decreasing throughout the pattern, which is common in...

BitcoinMaximus1

The Bitcoin price has been trading in a massive ascending triangle throughout the month of March. Volume has been decreasing throughout the pattern, as is common in ascending triangles. If the price were to decrease once more towards support, the $6400 level would offer an optimal entry point. The first target is given at $8200. Please leave a LIKE if you...

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Type Of Correction: The main difference between a regular A-B-C correction and a W-X-Y is the sub-wave count. While the A-B-C formation often has a 5-3-5 or 3-3-5 wave count, every wave in the W-X-Y correction consists of three sub-waves, amounting to a 3-3-3 correction. Since the W and Y waves often have the same length, this correction could end in June 29,...

BitcoinMaximus1

Please leave a LIKE and COMMENT if you enjoyed the analysis. Bitcoin's increase from the $5857 bottom has been quite rapid, with the price breaking out above major resistance levels without trouble. However, the rally has stalled near $6400. This is a very important level, since it is both the 0.618 Fib level of the entire previous decrease and the 200-hour...

BitcoinMaximus1

Please leave a LIKE & COMMENT if you enjoyed the analysis. On March 13, the Bitcoin price reached a low of $3875. However, it immediately bounced upwards, and has reached successive weekly closes above $5000. These higher closes allow for the outline of a pitchfork that suggests the price will gradually increase. The pitchfork is outlined using three dates: The...

BitcoinMaximus1 Updated 

It is looking likely that the price has completed a double top, which is considered a bearish pattern. In addition, the pattern is combined with bearish divergence, which makes a breakdown more likely. The price is following an ascending support line, which is currently at $6200. A breakdown from the support line would most likely take the price to the next...

BitcoinMaximus1 Updated 

The current BTC price movement since the March 13 low resembles an ascending wedge, the price currently being very close to the end of the pattern. Besides being a bearish pattern, the ascending wedge is combined with bearish divergence in the RSI, making a breakdown even more likely. A breakdown from this pattern could trigger a rapid price decrease, one that...

BitcoinMaximus1

Since August 2019, the XRP price has been trading inside a range between 2450-3350 satoshis. Throughout this range, it has twice decreased below the support area only for a short period of time.  The first time was on September 6, 2019. What followed was an upward move that led to a failed breakout above the range high. The price decreased below this are on...

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Please leave a LIKE if you enjoy the analysis. I am seeing a lot of fractals comparing these two movements, so decided to take a closer look. January 2015 - The decrease began on Nov. 13, 2014, when the price reached a high of $453.92.The decrease culminated with a low of $152.4, which was the capitulation wick. The entire daily candlestick was below the...

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Please leave a LIKE if you enjoy the analysis Making this simple : The highest close since the bottom has been on March 20 at $6210 (green line). . Lowest close since the increase has been on March 22 at $5710 (red line). A daily candlestick with a close above the green line suggests the price will move upwards, while the opposite is true for the red line.

BitcoinMaximus1

Short-term ascending triangle, price breaks out. Likely seeing BTC above $7000 today.

BitcoinMaximus1

ETH is following a descending support line and has done so since July 2019. There is a strong support area at $85, which will soon coincide with the descending support line. On March 12, the Ethereum price decreased significantly and reached a low of $101.2. Since then, it has made numerous attempts at retracing last week, most notably on March 20, when it...

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The weekly close for the BTC price will be later today. The price has created several long upper wicks, a bearish sign. In addition, it is still very close to the daily and weekly resistance levels. If it loses the daily support, a rapid downward move could follow towards $5650. Weekly Support : $6050 Daily - Support : $5050 Weekly Resistance : $6850 Daily...

BitcoinMaximus1

The Bitcoin price is in the process of creating a daily evening star pattern, which consists of Bullish engulfing candlestick (March 19) Doji (March 20) Potential bearish engulfing candlestick The pattern would be completed with a daily close below $5400, which would take the price towards the range lows at $40xx. Please leave a LIKE if you enjoy the analysis.

BitcoinMaximus1 Updated 

The Bitcoin price has been increasing rapidly over the past two days. The price reached a high of nearly $7000 before decreasing slightly. There has been significant bearish divergence developing in both the RSI & the MACD. The price is currently testing the range lows and I believe it will soon break down and head towards the next support area at...

BitcoinMaximus1 Updated 

Please leave a LIKE if you enjoy the analysis. This is a continuation of my previous idea which can be found here: On January 2015, the BTC price reached the 200-week moving average (white) and bounced above it. While it initially it looked as if it was going down, going as much as 15% below it, it proceeded to increase and close above. The current downward...

BitcoinMaximus1 Updated 

The Bitcoin price decreased by 43% yesterday, the biggest daily decrease on record. However, all hope is not lost. MAJOR HOPIUM - The price has yet to close below the 200-week MA, even though it has decreased significantly below it with the wick that reached $4000. There are two and a half days until the weekly close. The price has never reached a weekly close...

BitcoinMaximus1 Updated 

The BTC price is trading in a short-term range between $4400-$5600. On March 13 and 16, the BTC price made a double bottom near $4600. The double bottom is considered a bullish reversal pattern. However, it was not entirely textbook.  The first bottom was characterised by a very long lower wick that reached a low of $3782 (depending on the exchange). However, the...