Hi guys. I was ready to change my bearish bias even if everyone is super bullish. But the price action is king and BTC seems it was rejected by that line again! I am neutral but longer we stay below the more it looks like another false breakout!
Hi guys. As you can see, technical damage on BTC 2019 uptrend is huge. Bitcoin was not to able to establish higher high and broke down upside triangle. IMHO is this clear confirmation of the downtrend (price has created lower lows instead of higher highs). We are currently backtesting
this triangle and we should see aggressive selling to the next strong support -...
Hi guys, for some time I was trying to figure out if Bitcoin would be able to break 9500 as super critical resistance. It failed completely. What does this mean for the price? Well first of all this price movement is the game changer. It seems to be confirmation that Bitcoin is not ready to enter long term uptrend. Yet!
Bigger picture is clear we have massive...
Hi guys! I see many analysis showing potential danger of the price flip. It's not impossible but unlikely. Simple classical charting should tell you this is the clean breakout on a daily chart and the next potential resistance is previous swing high - 14k. There is no reason to be defensive right now!
Hi guys, as you could read in my previous analysis, Bitcoin reached target - critical resistance at 9500 - and is consolidating slightly below. Looks extremely bullish for me..If we break 9500, next target won't be below 12k!
You know - trend is your friend until it ends :) Bitcoin sees very important resistance level. Staying above 9500 will confirm last year lows at 6400 as higher low of the main trend. This also confirm change from long term down to long term up.
Is see potential inverted head&shoulders pattern (not validated yet!)
Good luck everyone!
As expected 200 DMA plays it role perfect. It's unusual for price of any asset to break heavy resistances at first attempt.
Classical charting says we can see retest of the breakout level what is 100% normal.
But this is definitely not good short opportunity until we are above 7400! This is more buy the dip environment for me right now!
Levels to watch now:...
Hi guys! Based on my previous analysis Bitcoin has reached critical resistance point.
Bulls have still power but we need to wait what is gonna to happen now. Breaking 200 DMA will move price of BTC to 9500 hard resistance (mirror level) - I would say...
Bitcoin unfortunately did not hold 7k. I expect based on technical damage BTC did with this price breakdown - parabolic acceleration to the downside. And this one can be pretty nasty and scary for hodlers I think.. Not the easiest to execute, but if managed well potential great time/profit ratio!
Despite overall bearish sentiment in the market, classical charting is saying we should be prepared for upside explosion as well.. This pattern is NOT validated until confirmed breakout from the flag. Invalidation comes with breaking down the flag - very bearish signal. I hope I inspired some of you..
6800 seems to be pretty interesting crossroad of supports which acted as important resistances before. Bitcoin is still bearish, but I see pretty nice potential of the mid-term bounce to 12K (price forming ascending triangle?)
Bearish continuation target from here would be 5200.
Hi guys, although I was constantly against this parabola , market is showing incredible strength right now! No matter how I look at this, IF upper green resistance of the triangle will be broken, bullish pennant will be confirmed and Bitcoin will almost definitely moon to 10k. Will this go even higher? I don't think so, but never say never in this crazy market...