BTC had a lot of bearish fake outs in the last few days. However, BTC never closed a bearish candle below the current pennant pattern. Time has run out and the pennant has closed with Bitcoin above in a bullish scenario. All the dips were quickly bought up by institutions and FOMO in the market. There was also HUGE bullish news by the feds giving permission to...
BTC has formed a pennant pattern and it's currently testing the bottom. If BTC breaks through the bottom, look for it to go as low at 28,300 before finding support. If BTC breaks out of the top of the current pennant pattern look for it to continue trading towards the top of the current trading channel marked on the chart. In the long term BTC is still very...
BTC has formed a nice breakout on the 4hr chart. The resistance that's held BTC in it's current trading channel for so long has now been broken. Look for this level to form as support for BTC. This should give BTC a nice healthy boost towards the ever so important psychological level of 30K. Look towards the yellow circled area in the coming days.
BTC pennant. Same setup. It's been rejected at the upper resistance level 3 times now. But if BTC can break through this pennant it can go test the upper range yet again. Fouth times the charm? (marked on the chart in the top yellow circle). If BTC goes below the current pennant, lookout.. there is a bit of a head and shoulders pattern forming and BTC could drop...
BTC is in a pennant pattern. A break above it's current mark (blue arrow on the chart) and BTC could challenge it's all time high again (Area indicated in a yellow circle on the chart). It all depends on which side of the pennant BTC decides to exit. Similar setup as to when BTC past the 20K mark (2 posts back: ).
Looking at the charts BTC moved up as predicted. It's hit the upside wall at the 23.8K level. Now begins the consolidation phase where btc travels sideways and reloads for another move. If that consolidation phase bounces across and slowly moves down BTC will form a bullish flag for another move forward. That's the formation I'm watching for. In these sideways...
On the 4 hour time frame BTC has first feigned a drop out of the current pennant pattern, then proceeded to break out the top. The confirmation is the wick marked "new support". Do you see the way it retracted quickly like it touched something hot? That's confirmed support. BTC may take another run at the all time high and $20K shortly. Circled is the possible...
If BTC is able to break above 19100 and out of it's current pennant pattern it should have a large enough push to challenge the all time high of 19890. If BTC can't hold above the 17850 level if will fall to previous support of 17100.
Bitcoin has broken through it's previous channel to the down side. Look for a drop to the 18000 level before finding previous support. A good time to buy the dip if you've been waiting on the sidelines. Projected is the low 18K's.
BTC printed a small bearish flag (red on the chart) and it had a short drop this morning. Outside of this drop Bitcoin has a trading channel that is cycling down to a decision. Bearish scenario breaks down through the current channel and Bitcoin can draw down as much as $17280 before reaching another support level. Bullish scenario breaks through the current...
Bitcoin formed a double top (bearish indicator) after breaking it's previous all time high and then dropped. The short term support held, BTC moved up and then retested short term support, which held again. Currently BTC is in a trading channel within it's short term support (green line) and it's all time high. If BTC breaks lower than it's current support...
Bitcoin just broke it's all time high. Get ready for Bitcoin to break $20K and fomo to kick in. I can see a big gain coming once all the news outlets get a hold of this news. Buy and hold.
BTC has broken it's current trading channel and moved downwards. How far down is it going? For now, it's found support at a previous trend line. Support below this is at the 13650 level. Just because bitcoin has moved down does not mean it's turned bearish. This is a healthy correction. It provides support for future growth.
The 150 day moving average has been acting as support (arrows on the chart). We also have a short term support line below it. In BTC's current channel we are nearing the end of the wedge. BTC will decide which way it's going today or tomorrow. If BTC breaks out the top of the current channel, there is a very good chance of a new ATH. If BTC breaks below, look...
Bitcoin just broke out the top of a trend channel. 20K is on track in the next few days.
We've made a big move up to the 18k level. Since then BTC has printed a consolidation pattern.. Until this morning where we see a break out. 20k is on the horizon. However, we are still looking for the pull back. The higher we go without one, the further it will drop when it does happen. I do think we are going to all time highs before the pull back.
If you've read my previous posts you'll notice that Bitcoin has been printing small channels and breaking out the top of each (labeled Steps here). Joining these trend channels you can see a larger trend channel. In doing so you can see that Bitcoin has abandoned Step 3 in favor of a break out. It seems Bitcoin is on a tear towards the important physiological...
BTC had a nice break out of the main trend channel (Oct 27). Since then we had consolidated some, then broke from that smaller channel (Nov 12). This week BTC has printed an even smaller consolidation and today we've broken out from that. It's important to note BTC is running out of steam. For the trend to continue BTC must print a higher high above the previous...