I think the 10k that everyone is talking about, might not gonna be reached before a major correction. Or if we do hit the bears gonna step in immediately. Why I think that?
If you look the 2015 chart when the bear market ended, the first parabolic move took us to 500 USD. It is very similar to 10k because it is a big psycholgical level and also a round...
As you can see my chart we touched the 7.4K-7.5K range 4 times! You might think that the more time we test a price level, the stronger is becomes, as a support. However the opposite is true. The more time we test a level the higher the chance we gonna break it.
We also made a lower low on the 4H chart, creating a double top formation. Both tops are on...
As you can see since we broke out from the trinagle on the 26th of May with low volume, we always had a big sell volume followed by a small buy volume.
What I am looking for is a big sell volume, bigger than the previous buy volumes. We found resistance at the 0.382 fibb. level, which is a great sign for a continuing correction.
If we have a look on...
It might seems like, that we are ready again for another move upwards and the correction ended. But in my opinion it is not the case.
If you have a look on the fibbonachi, you can see that we pulled back to the 0.382 level which is quite important. 8k also acts as a psychological resistance.
The VPVR also shows resistance and I drew a black trendline...
As I predicted in my previous analysis we had a fakeout to 9k pulled back immediately. After we broke out of the falling wedge we bounced from 8k (VPVR resistance) and then we tested the wedge as a resistance at 8.8k than we started to fall. Everything goes according to plan so far.
As I mentioned before the key moving averages are the 50 and 100 MA...
If you read my previous analysis, you know that I preticted that we gonna have a fakeout to 9K than immediately pull back.
I do not think it is gonna be a very short-living pullback, I think the 8K will not act as a support. It would be a way too small pullback compared to our parabolic run. The 21 EMA (blue line) should also not hold.
What I will be...
Let's get straight to the point.
Daily chart: Facts: Bearish Divergence on the daily RSI, Decreasing Volume, Forming Rising Wedge = We really are on the edge right now. A correction could happen anytime soon.
Weekly chart: Facts: Parabolic rising without any major correction, Stochastic RSI is at around it's maximum value since the beginning of March,...
As you can see on the 4H chart we are forming this bullish triangle. The volume is decreasing we are making higher lows. The 7500 USD level acted as support, so the next target is the top of the triangle at around 8200 USD. According to VPVP we have a quite strong resistance at 7950-8000 USD which is not surprising, since it is a round number and also a...
I wanna share my analysis with you, I do hope you find it helpful. If you liked it please leave a like and If you have any questions leave a comment below!:)
BTC is now in a clear bear market, price action is negative and the sentiment is also negative. Will it moon or we gonna crash? No one knows. Anyone stating that it is 100% gonna go up or go down...
BTC keeps dropping. Heavely. BUT!
As you can see as price keeps dropping, btc shorts positions keep increasing in a parabolic way. Why is it good for the smart trader?
We can see a bullis divergence on the 2H chart. RSI is also very oversold. Therefore it is very likelyy to bounce from the bottom of our triangle. If we manage to close daily above...
Looking at the 4H chart, we can see a divergence on the RSI that indicates a possible reversal. The turning point should, be the blue trendline at 7k - 6.9k. Looking at buy orders there is a significant buying power between 7k and 6.9k.
I do think everyone is waiting for this buying opportunity.
If we make this reversal, then the target price is the...
It's been a while since my last post, I am quite busy these days, but now we are at a key level and I have to share it with you.
As you can see after the rally to 10k we had a big correction. We hit the 0,618 fibb. level as known as golden ratio.
Today's closing price is a very significant one. We are in a downtrend according to 200MA (RED LINE) and...
On the daily log chart you can see that we are still bearish indicated with the RED trendline.
The 200 EMA and this bearish trendline is on the way to make an intersection.
Currently we are sitting on the 0.382 Fibb and it is still not clear that we are gonna move UP or DOWN.
If we break the 200 EMA and also break the bearish trendline, then it is...
We finally broke out from rising wedge with a nice volume. It is likely that we are continuing the retracement to the 8600-8400 zone.
100MA on the 4H chart showed resistance as expected. If we retrace back to the 8600-8400 zone and find support than the next impulsive wave's target level is 10k. The 9.5k level could show some resistance but should be...
You are probably aware of the current market crash. We are making lower lows again and again. Altough, we have several bullish signs that indicate upward price movement.
Firstly, the falling wedge. Everyone knows it, and what it means: clear bullish sign.
Secondly, we have a bullish divergence on the 4H RSI. It also indicates an upward breakout.
Scary things are happening to bitcoin. We not just broke the 200 MA, but we are also about to break the almost 1 year Bullish trendline. Yes as you can see it is on the log chart. Since I am a new technical analyst, I have thirst for knowledge and want to learn as much at is possible. In the book named: Alan Farley - The Master Swing Trader, I read...
Hi my friends!
Head and shoulders did not play out. At the neckline bulls did not have the power to break even higher.
Shooting star candle followed buy a large red candle means a strong reversal sign.
We broke out from ascending wedge = bearish.
We are about to break 1 month bullish trendline (blue line). If we close below this daily that is a strong...