-> closed above the bearish channel
-> touched the 0.618 fibret from last local top (~10k) to low of 5.8k
-> retraced from there back to the bearish channel
-> still under SMA200
-> 61.8% is crucial when it comes to trend swings. A retracement over 61.8% is an indicator for a trend swing (bearish to bullish in this case),...
Previously on BTCUSD:
Bitcoin formed a Bat-Pattern, closed at point D -> Bullish Movement estimated!
This low is the third confirmation of the green support line -> upward trend!
Like i mentioned the Bat-Pattern is a bullish signal, so point D was a perfect buy opportunity (related link). I do believe Bitcoin is going up until it hits the next...
ETHBTC shows a giant wedge started 1year ago with the cross of the SMA200.
In this chart you can see how long and intensive the bull and bear markets were after important crossovers with the SMA200 (marked with the red bubbles).
If ETHBTC is following the pattern, we could see another bear market til mid of april.
How to trade this?
Obviously grabing ETH at...
Previously on Bitcoin:
Bitcoin raised from local low X (7300$) to the resistance A (fibonacci retracement 9100$). Chart pretty much played pong with the shown fibret lines: Bounced at point B (8300$), raised to C (8900$) and is now about to retest the 23.6% Fibret.
What will happen?
Bitcoin shows bearish momentum at both, MACD and Chart, and will retest the said...
As we can see, we formed a double top (red arrow) as we had a false breakout from the triangle pattern. we hit my price target (bounced off of the SMA200) and are now at the chronologically end of the triangle. the blue rectangle is a crucial time for the next trend: a breakout can be both, either bullish or bearish.
Signs for a bullish breakout:
BTCUSD formed a doubletop and has dropped through the neckline (61.8 Fibret). Price target is the 23.6% Fibretracement at around 7200$. Notable: SMA200 could be a strong support at that area, definitely a rebuy opportunity.