We have reached a line of key resistance that has held up for a decade. That along with the overall market sentiment makes me think we are heading down from here. I feel like we could see 3800 within the next couple months. Thank you for viewing my post!
We are set up almost exactly like the flash crash we had in March of 2020. If we retested the previous cycles all time high of 20k we could still still consider the move the C wave of wave 4. It kind of would make sense for the big players. There isnt enough volume or confidence in the overall market, and we wont continue this sideways chop forever. We need a deep...
When looking at Bitcoin in the 1H timeframe we have formed a couple of bearish divergences (1 Hidden 1 Regular). We have also formed a bearish bat gartley pattern. We are also coming upon quite heavy resistance (44.5K). Taking all of which into consideration, it seems Bitcoin will struggle to move above this current price range. If it does reach 44.5K I think that...
We can see that the EMA ribbon has turned bearish. The last time this happened and we received a short signal, price dropped over 44% in a week. Whenever it has given a buy signal it has also been very reliable. We have another sell signal now and a very similar structure to the last time we received a sell signal. I expect this sell signal to be reliable just as...
Based on this chart we are currently in the complacency stage. The description fits quite well for the overall market sentiment. For months now we have heard about how we are in a much needed correction for the next great run up. Think of all the emotions that you experienced from the March crash to the May top. Many of us have felt the optimism, belief, thrill,...
When looking at the 4H timeframe we can see that Bitcoin has formed a bearish descending triangle. In most instances this represents a continuation pattern. If we used a measured move we come up with a target around 36k. I have included a couple of different scenarios that I think we could see play out. BTC would need to break above 45k to invalidate this pattern....
The charts right now look almost identical to the march 2020 crash. We had a drop of 55% from the high. Followed by a run up and then a golden cross. Crypto markets per usual are heavily manipulated. Honestly wouldnt be surprised to see a repeat of march. If we did see something similar we could see a quick drop to 19k. Thank you for viewing my post!
When flipping the Bitcoin chart you can see a continuation pattern has formed. I would expect a breakout within the next couple of hours. If we use a measured move we can expect a 40K target. There have been quite a few false breakouts of this pattern so far, so make sure you have confirmations prior to entering a position. Thank you for viewing my post!
Bitcoin showing a pretty clear head and shoulders pattern. We had an initial break of the neckline before we rallied back above. We have now had another break below the neckline with great volume. We could retest the neckline around 44k before heading back down. A measured move would take us to 34.5k. Thank you for viewing my post!
Sometimes it helps to take a look at BTC from a larger time frame. The day-to-day up and downs can really cause you to lose focus of the overall picture. This would be my best guess of what is to come in the upcoming months. For now I think we head lower to the 33.5k area. Ultimately I think that we will reach an all time high around 87-88k sometime in early 2022....
The resemblence of the this pattern and the May 2021 pattern are too close ignore at this point. We could see a mini push to 44.5k area before we continue to the downside. In May we reached the 1.786 fib extension and this time will be no different. Especially because the 1.786 fib extension in this case also aligns with an area of major support. I know that many...
If we continue to play out exactly as the May pattern (which we have so far). Then I'd expect Bitcoin to bounce between 42-45k the next day or two, before we continue further to the downside. Ultimately I feel we will retest the 28.5-30.5k range. Don't fall for any traps. If thinking about entering a short position: 44-45k would be a great entry. Not financial...
When flipping the BTC chart upside down you can see that there is a clear cup and handle pattern. There was great volume for the breakout of the neckline. Then BTC is now re-testing the neckline. Unless the 47200 range is broken with volume confirmation then I can see BTC falling to 45,550. Thank you for viewing my post.
Following a drop BTC has formed a symmetrical triangle on the 30M time frame. This is usually a continuation pattern and not usually a reversal pattern. I'd expect a drop to the 46.5-46.7 range.
This line of resitance has held up for 10 years. I wouldnt expect to see it be broken now. Given all that is going on in the world along with the Evergrande situation.... I think it's safe to say we've reached the top.
Evergrande is a major Chinese real estate developer, who through leveraged properties and issuing US denominated junk bonds, built up a real estate empire making it the second biggest in the country. Due to the pandemic many of their tourist properties suffered a hit. They've now managed to rack up $300 billion in debt. They've just announced that they wont be...
Look at the fib levels and bitcoin is playing out exactly as it did in may. There aren't any bearish indicators that are popping out at the monment but, the only way to invalidate this pattern at this time would be a CLEAR break above $48,500. I can't see that happening but you never know. If the next breakdown is similar to May then we can expect the 32-33.5k...
Rising wedge pattern formed on 15M chart id expect a break down out of this pattern