An extremely strong resistance level has been conquered with a relatively high trading volume(Neither low nor very high)
So the price is attractive to new traders, and current traders can still buy
My last target is 135%, but it is possible to reach higher levels...
Bitcoin was twice rejected from the strong resistance range
At these levels, a relatively high volume was traded while we were in the over bought range .
That's why the VOB indicator has repeatedly issued a Bearish signal .
This means that buyers have done their best but have not been able to break the resistance levels...
Bitcoin was retraced above 20% earlier this week .
Bitcoin has already created a Higher Low and I am waiting for a Higher High .
It will probably grow to about 40,000 and will be Rejected from that level.
I expect the dominance to increase throughout this uptrend.
The question for me was, why did Bitcoin stop now?
I came across this pattern when analyzing the weekly chart on a logarithmic scale
Bitcoin is moving in a rising wedge pattern.
If Bitcoin can break the pattern and get a reaction from it, it will rise to 5.618 fib
otherwise it will probably fall to 1.618 Fib
The OTHERS index ( total market capitalization of the top-125 cryptocurrencies, excluding BTC and some other top cryptocurrencies) is expected to increase over the next two days as bitcoin dominance decreases.
What do you think?
In the early stages, I detected the movement of this currency
As I said before, this one has high growth potential (ideally up to 900%)
it broke the triangle pattern, then pulled back
Finally, it was rejected by EMA-10.
First Target : 4.313(about 50%)
Yesterday I announced the possibility of pumping
More information is available now
comp conquered 0.5 Fib level in 4 hours time frame
Now my new Targets are as follows:
Target_1: Fib 1
Target_2: Fib 1.236
This is not financial advice
This is my analysis at the moment and everything can always change
I think it is too early to make a decision and I will only express my observations
We saw a sharp drop in prices
Then we saw the price correction to the 618-Fib and a little higher than that.
Can be expected to drop to 1.236 or 1.382 Fib Extension.
The reverse cup & handle pattern is evident.
sma-50 and sma-200 are moving towards each other (as if they are...
In fact, the party has started
You can see this by looking at the BTC.D and OTHERS indices
Bitcoin dominance is declining and altcoins are growing rapidly
I think the bitcoin market will move sideway after a slight increase
The situation is unstable
the price fluctuates within "symmetrical triangle pattern"
ma 50 was broken after about 4 days (95 candlesticks)
There are still many levels of support
ema 50, ichimoku base line, Fibonacci level, and the triangle itself
The colored areas are related to the indicator that shows the accumulation of resistance and support levels.
I have been monitoring the price movement of this chart for about a week
First, it broke the falling wedge pattern in the lower timeframes
This led to the breaking of the triangle pattern which restricted price movements for four months
then it pulled back and placed on the support area
There are many support levels in this area
The price is right above sma50,...