Summary:
Support seems to be establishing at 20k
Analysis:
After reclaiming 20k, BTC has retested 4 times. In three out of the four cases, volume spiked when price moved down from $20,800 while, on the way up, volume was low.
My interpretation
1) Bear position traders see $20,800 as a good entry point and are entering with large size.
2) Bears breakdown...
Summary:
Bottom might have been set
Price is has been bouncing off the 20 period T3
Volume is pushing prices up indicating bulls are entering
Analysis:
After the bounce at the long term wedge I spoke about in my previous idea several behaviors have supported the long term bullish view. First, price began to bounce off the 20 period T3. Second, several volume...
Summary:
Global market panic bled into the crypto market
Whales took advantage and dumped to liquidate longs and crash prices
Price bounced near bottom of triangle pattern which supports long term outlook
Analysis:
The overall long term triangle pattern in BTC has held true. Because of the global pandemic and broad stock market sell-off whales used this reaction...
Summary:
Bulls failed to hold above the $250 resistance level
Bears answered back with massive volume to bring price back down to 210-220 demand zone .
Price is holding just above $210.
If bulls don't enter by tomorrow the price may be pushed down to $200 level.
Analysis:
The run up to $250 occurred on weak volume and bulls failed to form a support. The massive...
Summary:
Strong resistance level at $280 (key level of 2019 rally)
Bulls exhausted and Bears successfully pull-backed the price to ~220 level
Bears, however, failed to break below $220 support
Bulls are back.
Analysis:
The failed breakdown at $210 exhibited long wicks indicating a strong demand zone and a healthy bull market. Now that the higher low has been...
