ElonCrypto

ElonCrypto

A double bottom is a reversal in trend. Once we find price action come back to that same support level twice it usually lead to reversal in leading price action hence we see a bullish engulfing. I haven't touched the chart with support and resistance or any other indicators I just wanted to show what I can see and if this will follow previous double bottom. The...

ElonCrypto

I'm currently looking at BTC on the 1 hour to find out what BTC is doing more short term. I'm also strictly using EMA indicators here as I want to show you how powerful they can be. Previously when the lower EMA crosses up or down over the longer EMA you can find a change in the trend either bullish or bearish depending on which direction is crosses. Where I...

ElonCrypto

My current thoughts on BTC is that it's trying to find a solid place of support as it showing a lot of signs of uncertainty. On the daily time frame BTC has found support around the $6700 region and stays in that uptrend formation. I see BTC currently consolidating trying to find a solid support. The current daily bodies show weak signs of buyers and sellers...

ElonCrypto

BTC is still overall bearish. BTC is still sitting under the 50,200 EMA which tells us that it's still in a bearish formation. Until we cross the 50 EMA then that will show signs of a bullish reversal. BTC is currently sitting on daily support at $6740 if we can hold here and have a strong bullish engulfing candle then we can see BTC head to $6800-$7000 range. If...

ElonCrypto Updated 

BTC is currently in a bearish flag formation which represents that it will break down if it follows trend and all indicators line up. BTC is showing weak signs of volume and has multiple wicks touching resistance which represents strong buying pressure. MACD looks like it could be turning down as well. If BTC can follow trend and continue to squeeze in the...

ElonCrypto Updated 

Vechain is a strong coin fundamentally and has it's main net launch near the end of this month. Accumulating this coin to the lead up of it's launch wouldn't be a bad idea. Technically we see VEN trying to re-test a strong resistance structure at 44973 after having a big sell off to 43222. As BTC is very bearish at the moment there's the possibility of being...

ElonCrypto

Last time I posted about BTC we had to break through a key resistance structure at 7780-7800 to be put in a bullish position. We have been rejected and fell straight through a key support at $7400 to $6611. Looking at BTC daily. The long term trend line was re-tested again and couldn't hold, resulting in BTC breaking down out of the wedge formation it was in. BTC...

ElonCrypto

BTC/USD Update I'm looking at BTC on the daily chart. You can see that BTC is respecting the trend line and has had a successful bounce at $7071 now currently sitting at $7715. BTC is currently in an ascending channel formation and if we can hold this channel and move towards the horizontal resistance at $7800-7836 we will either see a break through which will...