Dinore

Dinore

Bitcoin is falling after touching the upper line of the rising wedges. The rising wedge is the predominant bearish pattern. Is this the end of the bull run?

Dinore

Bitcoin XBT has returned back to the parallel ascending channel. MACD and RSI are supporting this downtrend. Trading zones to watch is: the middle of the channel at 21.7k and the channel's low line at 20k. Considering recent bearish news it is most likely we are going to 20k again.

Dinore Updated 

BTC is currently testing its most important dynamic support line printed from the beginning of the bull run back in 2020. Breaking this support line (yellow line on the graph) could bring the price of the digital gold to a 30k level before it drops further to 20k. Trade safe.

Dinore Updated 

As you can see on the chart, Bitcoin is moving in a very similar way as it did in March-April 2021 period. It seems we are at the point marked ot the graph with a red arrow. So, if history repeats itself, we have less than two weeks before a major BTC crash. With negative FA news about Omicron, this can happen much before. Let's see what the future...

Dinore

A simple analysis based on the Ichimoku Cloud indicator shows us the strength of bears. After almost whole 2 years, the lagging span of Ichimoku Cloud Indicators breaks below the cloud, which is a strong bearish sign. Trade safe.

Dinore

For a bullish scenario, we need to break up the upper line of the channel with strong volume and retest it (with a candlestick close above the $46500).

Dinore

Two hammers are spotted on 4h time frame which could be considered as a bullish sign, at least in short term (next 24h). BTC could potentially retest the resistance line around 33500USDT.

Dinore Updated 

Bitcoin chart has printed inverse Head and Shoulders pattern on 1h time frame. The neckline has broken above and I expect the price to go up to around 35500 USDT. Let's see how BTC is doing in next 24h.

Dinore Updated 

As we can see on the graph (logs scale) Bitcoin has broken the red support line. It seems the breakdown is confirmed by retesting the support line. If we considered that technical indicators like MACD are bearish also, it strengthens our prediction that BTC is going down. The next support zone could be the 30k-32k zone. Welcome to share your opinion :)

Dinore Updated 

BTCUSDT is forming bulish flag pattern and it's now testing 3 support lines, as pointed on chart - blue, red and green lines on the chart. If we break down these support lines, next support could be found around 34k-35k support zone. If we break up 43k target could be reach. Like and share if you find this valuable. Share your opinion!

Dinore

Bitcoin price is in the critical phase. The big triangle forming last 7 months is to be broken in coming days. Downward or upward? There are many indicators for both scenarios, so be careful. Wait for a strong signal before making any trading decision.

Dinore

Bitcoin is touching downtrend line on the logarithmic scale (purple line). Interesting to see further price action.

Dinore

Is BTC bouncing back from main downward trend line?

Dinore Updated 

What's next? Rising volume with price declining is a bearish sign. We can expect the continuation of downtrend to next support zone, around 8800-9000. Another scenario is that BTCUSD is already bounced back at 9400 level. Please, note that this is Education material, not financial advice. Feel free to leave a comment!

Dinore

According to candlestick charting criteria, we could determine a few signs of bearish implication (reversal patterns): 1. Hanging man candlestick (could be interpreted as dragonfly doji) 2. Shooting star 3. Double top as a strong reversal pattern (blue dotted line) And an additional bearish sign: 4. A decrease in price volume These are enough signs for pattern...

Dinore

Wait until the end of the day and see if this candlestick will close as a bearish shooting star or even gravestone doji. If yes, and price in next candlestick is trading below shooting star real body, then it could be a strong bearish pattern as we saw on Feb 20.

Dinore

BTCUSD is touching main resistance line again! Next hours could be very interesting for watching. BTC is still between SMA50 and SMA20, which makes this watching more exciting! If BTC succeeds to break main resistance line and close today's trade above SMA50, then we can expect further rise with confidence. If BTC fails to break resistance line, we can expect...

Dinore

Bitcoin is currently between SMA20 and SMA50. In next hours and days, we will see whether BTC will bounce back from SMA20 line (in that case SMA20 could become further support zone) or BTC will continue to fall deeply.