Btcsteps

Btcsteps

USDT Dominance is trading inside a bullish triangle, if breakout, can absorb money flow and consequently dump the whole market.

Btcsteps

RSI bullish divergence beside trading inside a falling wedge channel convinced me that we may have a breakout soon.

Btcsteps

Here we have a divergence. As you see, BTC is in a downtrend while BTCUSDLongs is in an uptrend! I think this divergence means most of people think 9200$ is the bottom of downtrend and consequently opened long positions.

Btcsteps

Bitcoin has been trying to break 9500$ resistance for 11 days. Bulls fighting against bears. At last, one of bulls or bears will show us the next move. if bears conquer bulls, the path will be a downtrend and vice versa. so the question is how to predict the winner of this fight? bulls or bears? I have some evidence that shows bears are exhausted. Take a look at...

Btcsteps

BTC dominance is trading inside a falling wedge channel and bounced from 0.618 Fibonacci level so we expect dominance moves higher and as a result, the money that pumped altcoins these days will flow back into Bitcoin market and consequently will pump BTC.

Btcsteps

Chinese YUAN / USD pair touched the top of the falling wedge channel so if price drops we expect Gold/USD And Bitcoin/USD pairs to start an uptrend since the Chinese will exchange their YUANs to safe-havens like gold and Bitcoin. Consider that Gold started its uptrend a few days ago.

Btcsteps

As you can see we have the same scenario for Bitcoin, I think if we can get above the green line we will have BTC in an uptrend for months. That is why I called it the last resistance. One more thing that can be considered is the BTCUSDLongs chart. Read my "BTCUSDLONGS Interpretation" article to understand how this chart controls the BTC price. BTCUSDLONGS tells...

Btcsteps

#Bitcoin #BTC #BTCUSDLongs In the first picture, you can see the number of long positions opened at Bitfinex exchange. as you can see the number of long positions is consolidating in a narrow falling wedge channel (yellow triangle), so we expect a breakout soon. one more thing that confirms breakout is RSI divergence. but you may ask "how does this affect...