This is an area where we will see shorts accumulate expecting the price to drop further after a typical rounded top.
Strong hidden bullish divergence will see the price explode forcing shorts to cover to 10K.
Hidden bullish divergence going back to July '17.
Adam & Eve bottom testing an old support in this area.
Consider that there are a lot of eyes looking at the price of this asset right now, any hint of a recovery here will have that money on the sidelines follow through.
Once this little rally is over we will come back to test the 200MA again.
All cycles in nature eventually come to an end.
If an asset that is down 80-90%, is it overbought or oversold?
It would be wise to be accumulating at these prices over the next few weeks / months.
Green arrow indicates we have exited the descending wedge from Dec '18.
Potential interim diamond bottom unfolding on the 4H, may lead to an inverse H&S within an ascending triangle.
2-4 months of an accumulation phase, then up we go into the next bitcoin halving.
Then everyone would have forgotten all about this nasty little bear!
Bigger picture movement is a repetition of a previous move from 2016.
This is not going to the moon just yet, it is establishing a bottom here.
I've been through 3 crashes now and this is just a natural market cycle, bulls become bears and then bears become bulls...repeat.
Good looking bottom in the process of forming over the next few weeks.
Shorts will start building up now expecting a drop to $2000 which won't materialise and lead to a short squeeze and then a continuation to resistance to $5000.
Expect a sell off from there.
Truncated 5th wave.
Hidden Bullish divergence on the 4H.
Will take us up through a bullish ascending triangle.
We hit resistance in March when the whole world of stocks crater, gold gets sold off, dollar crashes, then panic into safe havens....blah, blah, blah...
Fed steps back on raising rates in March, gold, crypto explode... real estate implodes... UK has...
Hidden bullish divergence on the weekly chart.
Looks like the end is near for global stocks...let's see where all the money goes.
I've noticed for a while now that most of the inventory (bars & coins) have been 'out of stock' at the London dealers.
Best get some shiny 'cause 2019 is going to be one rough year for all the schmuks driving their Lambo's around my...
Long-term Hidden Bullish divergence going back to September 2017.
This is so oversold all all time frames.
There may be a final capitulation to $4900 but will be bought up quickly and leave a long wick.
The move will be from money that has been waiting on the sidelines and the resolution to the attempted BCH takeover by an Australian lunatic who shares...
Looks like we may have a 0.236 or 100% retrace of the FOMO pump from the previous month.
It would be healthy for BCH to affirm itself on a previous trend line support to confirm its footing. Perhaps a double bottom test of $600.
This is accumulation time and long positioning for the next real bull run.
Maybe a panic sell to $550, but it won't hang around for...
I am a long term crypto bull, here I am outlining Bitcoin as all other coins will follow suit...(or until the end of the year).
We are in a descending channel. One more sell-off to shake out those weak hands and a deliberate but nessesary test of the black trend line at $4900 (either in the next week or next month at $5400).
I expect this to be a long wick down...