BTC is stuck bouncing in a parallel channel. Bulls are currently making a push to break the top.
If they are successful, we should expect to visit $13,000, and possibly test the prior swing high resistance near $14,000.
We've found support on the EMA12 and if we break the channel bullish with increasing volume, that would be the buy signal.
We broke to new lows yesterday, breaking the 4H equilibrium pattern.
I'm currently watching a new pattern forming, which is a falling wedge (a bullish pattern), which should break in the next 2-3 days.
If we break bullish, we should be testing the resistance of the prior swing high in the near future around $13,000-14,000.
Currently, there is a lot more room to...
As predicted in my last analysis, we are in an equilibrium pattern of lower highs and higher lows.
I've added the lower higher and higher low that formed over the weekend.
We need to push back through $11,000 today, or we run the risk of breaking this pattern bearish and possibly seeing a push back under $10,000.
Looks like we're most likely going to get a 4H equilibrium, which makes for an easy play on the break.
Essentially we are going to get a series of lower highs and higher lows until the tightening range breaks to the upside or downside.
The buy signal would be a break to the upside of a previous lower high. The sell signal would be a break to the downside of a...
So, we got the correction as expected. BTC was rising way too quickly to maintain, and this correction is what we needed to continue higher.
This drop is allowing RSI to cool off, but keep the uptrend intact. We have not broken to a lower low on the 4-hour chart. As of right now we are looking to set a higher low for either continuation or an equilibrium.
I have a...
BTC is following my analysis perfectly. Please go back and look at my charts over the past few days and give them some likes (linked to this analysis).
We broke through the top of the ascending triangle, met resistance as called at $11,500, broke through that, then went straight for my bull break target at $12,700.
I would expect to see some consolidation at this...
As you can see, we've broken the ascending triangle bullish; however, it's on low volume. We were rejected from the next zone of major resistance at $11,500 as expected.
The bulls seem to be getting tired, but if we can break through the next level of resistance, there isn't much resistance between us and all time highs.
If bulls keep buying the dips and...
The bull flag from my last analysis played out perfectly, so lets see what the current movement is showing us.
We currently have a (somewhat sloppy) ascending triangle, which is bullish. We are maintaining 4 hour higher lows and keep knocking on the door of $11,000.
Once we get a confirmed breakout and close a candle above that mark, we should get a test of our...
Congratulations bulls! We now have a strong 4 hour uptrend as we approach major resistance at $10,000 on our way to the bull flag target in the $10,800 range.
Don't be surprised to see initial rejection at $10,000. It will be strong resistance and we are already getting over-extended on the RSI.
Most likely scenario is approach to $10,000, consolidation, then...
The bulls are making a push to confirm the bull flag.
We've currently confirmed EMA12 support, but the bulls need to make a push higher to break resistance at $9,388. Otherwise, we remain range-bound.
The likelihood of a bull break is now higher than a bear break, but we've all seen significant pushes down in short time-frames, so we need to stay cautious.
Currently watching two potential short-term patterns, one bullish and one bearish.
The first is a bull flag, which (if confirmed) could take us through major resistance at $10,000.
The second is a potential head and shoulders pattern, which would indicate healthy daily consolidation taking us back down to the $8,500 range.
Currently waiting for a break of the...