Checking MACD from 1m to 3 hours time frame, we will see that it turns bullish.
On 4 hours we have some difficulties turning MACD bullish and this is physiological as
we have strong resistance at 51k but also we are creating a bullish inverse head and
shoulders pattern (Waiting for right shoulder to get completed around 49k.
Assuming the importance of current situation, i decide to update the previous WYCKOFF TA
by sharing some important points which i mentioned in this TA.
What i am going to say is that, bitcoin can stay bullish even if we can see a correction of 50-55%
from the top.
64500 (top) - 50% = $32250
64500 (top) - 55% = $29025 (the area which it...
Greetings to all.
Bitcoin consolidate in one range between 48k - 64k.
I expect continuation of this consolidation for at least 1 month.
Rising wedge on 4 hours at the moment, is a bearish pattern.
I expect this pattern to play out and price to fall between 49500 - 51500.
In this area we can have double bottom...a pattern which it will gives
a new upside...
Not too much to say...
A break from a falling wedge is what I was looking and waiting long ago,
about one coin that on 2017 -18 alt season was costing more than 4 USD.
And we have one price at the moment 0.37 USD.
All in to this gem!
Two important things.
Candlesticks combinations are not bullish at the moment and are mentioning more correction.
Trying to spot which downtrend wants btc to keep alive and assuming that we already lost the
macro downtrend line from 20k break out, seems that we gonna retest the macro downtrend
from 11k break out.
This is somewhere near 50%...
Broadening rising wedge. (ABCDE Elliot Waves - Wave E expected)
Symmetrical triangle. (ABC Elliot Waves - Wave C expected)
Both above patterns are following Elliot Waves and the direction of waves are in
both patterns bullish.
Three patterns mentioning the same target upside.
2500 + is my target for the upcoming 2 weeks.
Finding support at the Major area of 175 - 180.
Broadening rising wedge following by ABCDE Elliot Waves.
Wave (D) in process found support at the major support area and
retested the downtrend line of Broadening Wedge.
Wave (E) upside expected with three possible targets :
T1 = 319
T2 = 329
T3 = 341