Hi Guys ! So finally the expected ''powerful move'' was upside... So now what ? Well I'm a little more bullish (40%) than I was before the last BTC pump. However, I'm still bearish (60%) for Bitcoin. To me we're still in the middle of a bear market unless BTC break 12k-13k zone. Keep in mind that this is not the first big pump that we had since the beginning of...
Bitcoin market is too stable and have no volatility. Last time it happened was mid January and Bitcoin took a hard dive. Something is about to happen, a big move soon. Could go up, but I think BTC will take a hard drop. You got to keep in mind that when this situation is happening in a bear market (a really stable price for a long period of time), it generally...
BTC is holding well on that support (big orange line) since almost 8 days now and closed almost 9 days on that same support... Which make that support strong. However, last time Bitcoin closed on that support (2018-02-06), volume was huge. Now you can see on the chart that volume is weak and that another strong bounce from this support is unlikely. So, This...
So we can see that Bitcoin is now stuck between resistances (around 7.1k to 7.25k) and support (just a bit under 7k) since almost 5 days now... What could happen ? Well first let's make things clear. RESISTANCES : -Long uptrend line (turquoise). This line was a strong support for months and is now acting as resistance -- Strong resistance -- -300 daily simple...
What's up guys ! Ok so I know this chart is a little bit messy but it simply show all the potential supports for BTC if the fall continue... And since we breakout downside from the green uptrend line, we can expect more sell off for the next days or weeks. I published a similar analysis last week on the weekly chart in Log scale (you can find this analysis...
Hi guys ! Again, I have no choice but to be short on BTC... This chart don't look good at all, see by yourself. I will summarize for you, but there is not much to say... You can see everything clearly on the chart. First we have that clear second bear flag back to back with the precedent one who should of course break out downside to double bottom at 6k. Yes, as...
First we'll start with the facts to make sure things are clear for everybody since the chart have a lot of data on it... 1) Bitcoin just broke the second yellow line (growth B) which is very bearish 2) If we break 6k, next stop is around 4.5k. this is a strong support (Support A) 3) If we break 4.5k next stop is 3k. Volume was nuts there. This is an even stronger...
Couple weeks ago, I made a post about the ''BTC Argument Zone'', which you can find below this text in the related ideas. I was saying than between 9k and 12k there was a strong argument between buyers and sellers and that this zone was important to watch. However, at the moment the most important spot to watch is way smaller and is more between 9k and 9.5k. I...
Hey guys ! What's up with your trading ? Mine's doing great, especially with Bitcoin ! But today I want to bring you on the ''other market'' and take a look at the good old DOW. Are you curious too see what's up with the stock market ? So let's summarize : - DJIA is way to extended from it's 200 daily simple moving average and should go touch it soon : As you...
Hi guys ! So we just got a reversal from 7.2k to 8.8k, but now what ? Will BTC fly high ? Well maybe, but Bitcoin will face some strong resistances before. To me, when I look at the daily chart, The turning point is somewhere around 9.5k. This spot could be determinant between the prolongation of the bear market and... The end of it ! BTC is far from being out...
Ok guys, the fight is on, BTC is on the ring right now. Something big is about to happen ! We have 4 strong patterns in the same area right now and they are all about to break out. We have 3 bearish and 1 bullish patterns, so let's see who will win this price battle. It will be really interesting to watch in the next few days. So let's start with the little...
Hi Guys, so finally as expected BTC is starting to drop under it's 200 daily moving average and could drop much lower. But where could this drop go before we see a bounce ? Really hard to tell, we have support between the 7k to 8k zone and some strong support at 6k (I mean look at the huge volume we got there). HOWEVER ! We can see an interesting pattern on...
So BTC is holding, again, on one of his most popular moving average, the 200 daily sma. What does this mean... Well if we take example on the two last time it happened (on the 50 sma and after on the 100 sma) we should excpect a huge drop. Generally, when the price drop and do a quick touch on his moving average and then bounce and don't come back, that's a sign...
All right guys so BTC finally drop down to 9.2k and then pump over 10k. So now what's next ? We have some resistance around 10.5k. First the daily 50 sma, the 50 4h sma and the 200 1h sma are at the same level in the 10.4k zone. Second, the order books show sell walls around 10.5k and third, the 23% fib retracement is there to show us some resistance too. If bulls...
Ok guys so BTC is now down more than 2000$ since his last top at 11.8k. So where is the end of that drop ? and what will do BTC next ? First of all BTC have a gap to cover (the blue rectangle) between his last top at 9k and the price we have now (around 9.5k). BTC need to fix that gap as he always do. Bitcoin always come back to touch his last top. Also, the 50%...