Okay guys here's my weekly update for BTCUSD.
This week has been a relatively boring one again, no substantial movements and we seem to be stuck in a sideways channel.
Keeping the chart as simple as possible, I've removed the trend line as it's no longer confirmed and using my 45EMA and Support/Resistance lines.
Here is the evidence we have to work with to...
It is Friday and again another analysis of BTCUSD.
This week has been a rough week with the first red weekly candle in a long time.
I've found the daily 30EMA has been a strong support, RSI is at a healthy 50 on the daily.
Looking at the market and trying to predict an outcome is quite difficult.
When I look at this chart I see the 30EMA as a good support, a...
It's Friday morning and another Bitcoin Breakdown analysis.
During this week we experienced the breakout from the ascending triangle formation I reported on forming last Friday.
The breakout occurred earlier than I hoped as the RSI was just to high to support a large breakout.
As you can see on this Daily chart, there is a large presence of bearish divergence...
Friday trading review, each Friday I intend to post about a probable outcome I've seen in the market. Stay tune and follow me if this information is indeed useful.
Coming back at you guys with another probable scenario. After bitcoin hit well into its overvalued territory on the daily RSI we seen a minor retraction as...
After an amazing week of bullish movement we moved into the very oversold territory in the RSI which usually leads to a retracement. This is indeed what occurred. Now we look at the price action on the daily timeframe and see the RSI has dropped back out of the over sold territory. This was followed by a small green candle after opening this morning 19/05/2019....
Bitcoin in a Bullish channel heading towards the overhead resistance again.
A nice Head and shoulders pattern has formed, hoping for this to finally break this overhead resistance and continue on its bullish charge.
There is a solid looking head and shoulders pattern forming on the BTC-USDT daily chart. already had a minor breakout from the ascending triangle pattern setting us up for a good rise in price if the price action manages to break the neckline of the H&S pattern.
Quick update on Bitcoin:
We have a double bottom forming and strong divergence supporting it, hoping to see some bullish movements result.
Like always, don't take this as financial advice and do your own research before investing.
As you can see we have a nice Ascending triangle forming on many of the charts thanks to our friend BTC.
There is a nice golden cross about to form on the MACD Hourly and OBV is looking not to bad.
As long as we stay above the yellow trend line I expect a breakout later today.
I have an entry set at 1165 and stop loss at 1153, keeping everything nice and...
Quick analysis on BitcoinCash, A symmetrical triangle is forming and a hefty bearish divergence forming in the RSI and MACD
We know that this pattern can breakout in either direction. My prediction is the Price action to fall and test the green trend line and then continue up in the uptrend. If we break the green trend line we can expect a large drop in price...
We are in a ascending wedge pattern marked by the red trend lines, this means there is a high chance of a notable price drop in the near future. If we can break through the top of the wedge pattern then test the overhead resistance at 7850 we can expect some large breakouts. Again my current thoughts are bearish, but there is a good chance we can break this wedge...
Again looking at the hourly chart. Volatility has been high lately, as can be expected with the past market movements.
The orange trend line is what I'm calling a support of some what, if we drop below this line a large fall back to 7000 mark can be expected. I'm going to call it a confirmed uptrend once we cross through the yellow down trend line around the 7600...
The Aqua Box is my new expected breakout area.
Finding resistance on the 50MA, once this is broken the next test will be the 100MA. These MA tend to coincide with the Trend lines I've Illustrated with the pink and yellow dashed lines. The formation of higher lows on RSI is also promising.
I'll enter once price has closed above my PINK down trend line and 100MA,...