Taking a look at the current downtrend we see clear signals everywhere in the chart.
First of all our nice trend line still hold strong and all support got smashed for now. In addition we can see exactly the same trend line in the MACD. With that being said we can be sure about the next movements.
But where is it the end of that downtrend? Well, considering our...
Take a look at my last analysis which this one is related to to fully understand my drawings.
Once again BTC misses an opportunity to break the heavy resistance. Instead it demolishes its last uptrend support and falls back to lower levels. To understand the future movement, I took a look at the past where we can clearly see a lot of curves suppressing Bitcoin. I...
Bitcoin is currently dominated by two strong trend lines. Around the 6th of May we will see those two collapsing which will force BTC to decide for or against an uptrend.
If we manage to break the current resistance, we are likely to see the next one at around 12k. Other way round we can see the support breaking and then we will be back at 7k with another very...
Let's take in consideration that BTC will surely affect the price - we can see a long-term developing triangle in DGD.
As well we see banana forming with closing trend lines. According to the strong support DGD should find right below the current price, we are expected to see an uptrend to the top.
For now we are aiming at prices above 0.036 but we are surely...
As you can see in my chart we can see a clear triangle pattern. In addition to that we have a heavy resistance line found at the 0.0386 level.
We are currently in a small channel with the upper limit at 0.0452 which I expect to be retested soon. If this level breaks we are likely to see a test of the upper border of the triangle and a possible outbreak to the...
As always some short-term analysis from my side.
I spotted a nice little inverted H&S developing throughout today. It has not finished yet (so this is a prediction) but if it does we are looking at the following targets: 663 - 715 - 776
Happy trading and good luck!
There are likely to be 2 options for BTC:
Forming a inverse H&S (bullish)
following the current downtrend channel and retesting the bottom of the channel after the Zig-Zag idea.
10000 will be most likely the turning point that decides the path so keep your eye on that!
Looking at the 1 hour graph, we can easily see BTC getting sandwiched between a supporting curve and a resistance line.
We have a typical scheme inside of those line which our Zig Zag indicator shows us very well. The result is an alternating testing of the trend lines . The distance between both gets smaller which will lead us in a final clash where the lines...
No outbreaks of this downtrend channel that already lasts for almost 36 hours. Expect that it will hold until a great outbreak happens.
(SWING trading opportunity!)
Critical resistance to watch is: 8141
Critical support to watch is: 7800 - 7520
I posted my long-term analysis earlier and this is a updated version because of recently shown independence of BTC shown. I have not analyzed TRX/ETH where we might see the reason for the uptrend.
We can see a ascending channel by fibonacci in combination with the original fibonacci retracement level based on extended V-form.
Comment your opinion!
Fibonacci Retracement level 0.236 will mark the end of the downtrend and we will see a rise up back to the same fibonacci level again.
Used: Support/Resistance line, Fibonacci Retracement, trend arrows