KyleBrookes_

KyleBrookes_

I believe this down trend is just beginning, Expected the relief rally to happen, this is potentially the last opportunity to short above 9k for a while. I can see this touching 9240 but if this breaks the 4H 50 ema i would be willing to change to a more bullish stance, but until then I am bearish. Lets see how the stock market opens. This trade has a...

KyleBrookes_

Just aiming to highlight the similarity between the situation right now and the previous falling wedge. I've highlighted both the previous wedge and the current potential wedge in orange. Previously we saw two failed attemps at 10k followed by a breakdown, breaking through the 4 hourly ribbon, and forming the bottom of the wedge around 8.8k. Shortly after we saw a...

KyleBrookes_

Small trade that I think looks likely. Sl around 9720. Would take the price up to the fib line just above 10k, also lines up with an area of strong resistance running up to 10.1k.

KyleBrookes_

Still need to complete the c wave in this corrective phase. Think the price has had enough attempts at 10k and the bulls are beginning to become exhausted. A break below the 9.4k mark (the 4 hourly ribbon) would represent a trend change and i believe the price could come down as low as 8k before we see bulls entering the market again.

KyleBrookes_

Seems to be following an elliot wave pattern rather well up to now. If we can confirm the bottom at B to be 8600 then the next wave C will likely take us to around 9k again. The halving is 11 days away it will be interesting to see how bitcoin reacts, the previous halving bitcoin took a large run a couple week prior and in the weeks after took a significant sell...

KyleBrookes_ Updated 

Been long since 9900, looking like a fairly standard H&S breakout with a retest of the neck line will hold the SL in place incase this falls back into the 8.9k range. The support line on the RSI looks like it will hold again. Measured move is around 9500 but will need to break through heavy resistance at 9100. Looking promising

KyleBrookes_

Potential breakout to the upside out of a falling wedge, despite a lot of resistance to breach above. Shorts will be accumulating which helps to force a reversal to the upside.

KyleBrookes_

If this downtrend continues I see strong support around 9100 from previous support/resistance, also lines up with the golden pocket for the fib retracement as well as converging with the 21 weekly EMA.

KyleBrookes_ Updated 

Feel ike a break upwards is the most likely scenario right now? theres a bullish divergence on the 4H and descending channel which can also be interpreted as a descending wedge with declining volume. I think a long trade with a target at the high 8k range with a stop loss around 7.8k is a good bet.

KyleBrookes_

A break below 7700 would be the start of a bear market, it would mean the price has broken below the 50 weekly ema which it has never done before at the start of a bull run and this would be followed by another long arduous bear market. I think a lot of people do not realise the opportunity which presents itself right now, this could potentially be the bottom of a...

KyleBrookes_

Expect bitcoin to continue it's current run to form a 3 wave around the 12k mark. Currently only looking at good points to enter while the price stays above the 4-hourly ribbon.