Price has gone down as expected but how much lower will the price sink? It is very probable that the price will drop even further (Elliot corrective wave).
RSI is not completely oversold yet.
Ichimoku cloud crossover
High volume spike after price hitting crucial take profit region thus making the price drop.
Standard corrective wave
As I said on my previous analysis, price rose up to $10k after breaking through the overhead resistance. Price will pullback now. Bearish short/mid term but bullish longterm imo.
RSI heavily overbought
Volume declining despite the rise in price (bullish exhaustion)
Volume is not as high as previous price spikes
Short term correction, Bullish...
Bearish short/mid term.
Volume decreasing. Volume is not as high as previous price spikes.
Strong/heavy overhead resistance.
Short term correction. Bullish longterm?
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BTCUSD is forming an Inverted Hammer candlestick signal on the 1W chart. This could possibly the start of a bullish rally since the rally last year. However we still need to wait for confirmation. ETF deadline (5.November) is also coming close which could drastically affect the price.
Criteria for the Inverted Hammer:
Upper shadow/wick is twice the size of the...
BTCUSD seems to be moving towards a bullish rally in this bullish pitchfork channel however the volume is not supporting it yet. If we do see more volume, that would further consolidate this bullish trend.
Also a possible Three White Soldier bullish reversal chart pattern being formed after the correction wave?
BTCUSD showing bullish signs/a reversal pattern after a prolonged downtrend. This bullish chart pattern, also known as the Ascending Triangle, has two trend lines representing the support and resistance. If 6750 is breached, wait for confirmation and go long.