BitcoinMaximus1

BitcoinMaximus1 Updated 

The BTC price has been consolidating inside a short-term range since March 13. IT is currently in the upper portion of the range and has created an ascending triangle (right picture). A breakout from this pattern is expected. A breakout that travels the entire height of the pattern would take the price all the way to $6100, reaching the high of March 12 and the...

BitcoinMaximus1

The BTC price has never reached a close below its 200-week MA (having come close on January and August 2015). The current weekly close is below the MA, albeit only incrementally. If we assume that the price fails to clearly reclaim it, it is likely to go down from here. The white dotted lines outline the current range of $4200-$600, while the black lines...

BitcoinMaximus1

Please press the LIKE button if you enjoy the analysis The support line outlined in the chart above is drawn in the logarithmic scale and has been in place since BTC’s inception. In addition, the 200-week moving average is outlined in black. The price has validated both the support line and the MA numerous times, the prior three being on: -August...

BitcoinMaximus1

The BTC price broke down below the $7750 support area that had been offering support over the past three days. In addition, this was the main resistance area throughout August-December 2019, a breakout above which preceded the entire upward move to $13,764. Therefore, it is a major support area and its loss is a major bearish development. The price has reached...

BitcoinMaximus1

Please leave a LIKE to support my ideas The BTC price briefly decrease below the range low but bounced immediately, creating a bullish engulfing candlestick with a long lower wick. Since the price has reached a close inside this range, I am expecting a movement towards the range high at $8050. Another retest of the $7750 support would offer an optimal entry level.

BitcoinMaximus1 Updated 

The BTC price is trading inside a short-term range with the following limits: Support - $7750 EQ -$7900 Resistance -$8050 Yesterday, it broke out above the resistance level but decreased below it shortly after, a strong bearish sign. Currently, it is trading slightly below the EQ and has created a symmetrical triangle, which is a...

BitcoinMaximus1 Updated 

Even though the BTC price has been decreasing rapidly over the past week, it is still possible that this decrease is a part of a longer-term bullish pattern, more specifically an inverse head and shoulders. The pattern has been transpiring over a long period of time, more specifically 174 days. In addition, a breakout that travels the entire height of the pattern...

BitcoinMaximus1 Updated 

The Bitcoin price has been decreasing without experiencing any type of bounce for a while. I think that is about to end. The price is trading inside an hourly range of $7750-$8050. Inside this range there is a: -Possible inverse H&S -Price is trading above the middle of the range. -Bullish divergence in the hourly RSI The price will soon break out from this...

BitcoinMaximus1 Updated 

I think it is safe to say the the early February $10,502 high was the current movement's high. What this does is give us a descending resistance line traced all the way from the all-time high price. Measuring from the December 2018 $3128 low, we can also outline an ascending support line, that creates a symmetrical triangle. So, we have a pattern that we can use...

BitcoinMaximus1 Updated 

Wyckoff distribution theory states that there is a proportional effect for every cause in the market. Thus, after every accumulation phase, there is a markup, distribution, and finally a markdown phase. More specifically, each phase has its distinct characteristics The current Bitcoin price movement closely resembles the Wyckoff accumulation phase, which occurs...

BitcoinMaximus1 Updated 

In the 4-hour chart we can see a that a double bottom has been formed (inside a support area visible in higher time-frames). There are three reasons that I think the entire breakout of this double bottom will play out. The pattern is combined with bullish divergence in the RSI. The RSI has broken out from an ascending triangle The price has broken out from...

BitcoinMaximus1 Updated 

The Bitcoin price decreased significantly on February 26, creating a bearish engulfing candlestick and breaking down well below the previous support level. This caused daily RSI to drop below 50, invalidating my previous five wave formation. Rather, it seems that the formation ended at the $10,491 high. But, the price has just reached the 200-day MA and seems to...

BitcoinMaximus1

Even with the recent decrease, the long-term ETH chart still looks bullish. The price created a double bottom (bullish reversal pattern) on September-December 2019 at ₿0.0175. The pattern was combined with significant bullish divergence in the weekly RSI which was also at its lowest ever level. The closest important resistance area is found at ₿0.037. As long as...

BitcoinMaximus1

I believe TRX began a trend reversal on September 9, 2019, the date on which the weekly RSI reached the lowest value ever recorded. The price has possibly began the third of a five wave Elliott formation, which is expected to take the price all the way to the previous breakdown level at 320 satoshis. The possible creation of an ascending triangle (dashed...

BitcoinMaximus1

Two charts that explain why I'm super bullish on EOS/BTC 1) - The EOS price has broken out above 40k satoshis on January 14, and the rally lasted until February 14. Since then, the price has returned and avlidated the breakout level. This is a very common movement that leads to another upward move the majority of the cases. - In addition, there is even more...

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I believe Bitcoin is currently completing the fourth wave of a five wave Elliot formation, with will end near $9150, while the fifth one will end above $12,000. I have outlined a range, with the main support/resistance areas being at : $10,500 $9650 $9150 $8700 $8250 $7650 $6900 The price is currently attempting to flip the $9650 level as support, but it...

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BitcoinMaximus1 Updated 

My outlook for BCH/BTC is bullish in the short-term but bearish in the medium-term. I am looking at a possible bounce at this support area, which could serve to validate the ascending support line as resistance, after which I think the price will decrease to the second support area at ₿0.0325. My main reason for this belief is the RSI and the previous...