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...
It seems we had a false breakout. We did not have enough volume to push the price higher.
Reversed hammer/shooting star is forming = strong reversal sign.
Closing below mid-term downtrend daily means we are still bearish.
First target is 9.3k, our previous low.
Here is another quick analysis.
So going back to a few days we had a nice gravestone doji/shooting star (on the daily chart ) showing that bulls were running out of power. Next day the red candle confirmed the trend reversal.
We successfully broke the 10k psychological level.
We also broke the 9.5k resistance which was a resistance before and...
Let me share my idea with you, I hope you find it helpful!
As you can see yesterday (february 20) we tested the mid-term bearish trendline as a resistence and it looks like we are bouncing back from here.
We did not close above the trendline which is a great sign for the bears. We also created a gravestone doji or a shooting star (the daily candle is...
In my previous publishment I went bearish doubtlessly. Despite the fact that I'm still bearish I wanna show you both scenarios and my thoughts on it.
Let's jump in!
Going back to the late november/early december when the hype started everybody started to talk about bitcoin. When you went out with your friends to your favourite pub and after a few...
If you have look at the daily chart you can see a clear hidden bearish divergence which is a trend continuation sign (confirming that we are still going down). It also forming on the simple RSI too.
On the MACD the lines arent crossed yet. We might move up to 9.5k and possible create a double top there then move down.
Yes we broke the bearish trendline, but it...
Hi guys! let me share my idea about BTC. It's my personal opinion, I'm not telling anyone to buy or sell bitcoin.
As you can see on the mid-term we are going bearish. The price failed to break the 0.786 fibonacci level which is around 9k and bounced back. What makes it more important is that, at the 9k level we didn't just bounce back from the fibonacci level but...
This is my first publishment. Comment if you think it was helpful or not, because every comment helps me to improve. Let's jump in!
1. First bearish sign is the mid-term down trendline I drew.
2. We can also see a clear elliot waves pattern. We can see a ficonacci level at 9k and even the 5th wave didn't test it, so I don't think we are moving up again...