If we close 18k + this week it's over for the bears. If we close below it we can retest 17200.
On The weekly we can see a different picture. There seems to be a massive reject of sub 18k, but we do need to close above 18k today for that to hold.
Bitcoin is stopping exactly where it shouldn't so it's a bit creepy. But if we close 100 dollar higher we're going to 19k
We just had the double bottom adam and eve reversal beginning, this is worst set of cards the bears possibly could have received. It's very likely we have touched the bottom and won't go down any further than 17k. In the best case scenario we could see a triple bottom for the bears, but than they would need extreme luck.
Be ready for some choppy waters, we can expect btc to fall to 17200 or it can breach 18k and move to 18500. I do expect BTC to stay in this range for a week or so.
The bears have been spoiled in the 3 years bear market and they think that every correction will cause another couple of years or months bear market, that time really is over. We are still at the very bottom of this uptrend, we can really expect 50 to 60k BTC within months.
This is a clear bullish div on the 4h. We went into sub 10 RSI levels and have now passed the 30 RSI level. This will really add to a stable uptrend!
There are many crazy stories going around about EOS, the main reason is that the price was kept low by gov sized whales. It is inevitable that EOS will go up lot at some point. EOS is one of the few coins that are actually being used. In the top 20 you can say only Bitcoin, ETH, EOS and TRX are being used right now. The other coins don't even show up in the top...
BTC is going up in a very stable manner, that's great news for the bulls. BTC is showing a lot of similarities with early 2017. In January 2017 BTC made the same kind of move. It came back to ath and made small correction from 1100 to 780 dollars and grinded up slowly to ath and at the end of the year in 2017 it went up 20 times. If this is the same move that...
After all this extreme bullishness BTC had to cool down, it does makes sense. We can expect a slow grind back up to 20k from here, that wouldn't surprise me at all. The support at 16 k seems to be gaining power. We can also expect large buyers to continuously add BTC to their portfolio, this will soften the panic. The volume is great, so there is no real reason...
We still have extreme support levels at 14k, 15k and 16k. Bitcoin is also showing strength in the 16600 area. Bitcoin can drop worst case scenario to 15k, but the uptrend is far from broken. The dxy is also making new lows and could collapse at any moment.
BTC still has to mark where the main support is. It seems that there is support at 16k and at around 16.600. The more often we bounce from these levels the stronger these supports will become. And the greater the distance we make from these points the better it is. BTC is showing both strength and weakness caution is advised. Deleverage if you have to. P.S. this...
As we warned BTC could retest 17k it even dropped 1k more than I thought in a fast and violent move. The reason being mainly that BTC was extremely overbought on the weekly. We could see a little bit more up than some sideways and another shot at ath after that. This process could take 1 week or more.
Bitcoin is becoming extremely volatile, we can see 21k out of all this madness and than another retest of 18k. Main support levels are 16k and 15k.
The dollar was extremely oversold in the DXY metric, the BTC bulls dumped BTC because they probably expected a small bounce on the dxy. Sadly the whole crypto market went into full panic and most als and BTC are extremely oversold on the 4 h now. It seems bullish divergences will follow soon.
There is still no sign of real reversal, it seems that we will test the 20k level soon!
As soon as EOS breaks out of the 4 dollar zone a parabolic trend will start and eos will move with high speed to the 10 dollar level. ( 5.50 is also a minor resistance. )
We had the first attempt on 20k ath breach, we will see a new and probably successful attempt before the end of november.