Since our last post, BTC has continued to move into lower territory and has come closer to our last low ($5.7k). It seems that opinions are being increasingly split on whether a lower low, deep in the $5k range will happen, or a move upward from around here.
We've put on the chart what we've identified as the support levels, holding what seems...
Since our last post, BTC has made significant downward movements and reached around $6,000 before bouncing again.
In this post, we're going to discuss the possibility of yet another H&S forming here, and the possible breakdown (if this comes true) could drop us significantly lower than our previous lows.
Since our drop from around $20k, we've...
Sorry for the late update, but BTC is working a little faster than we are.
Since our last post, price has fallen through our identified support levels, with a lot of selling volume at that.
On the chart. we've updated the next support levels that BTC will face on the way down, which aren't as much as the ones we've passed so far.
We have the bears on one side, and the bulls on the other. The bears have been pushing the bulls down, and are now gearing up to shoot (in the form of a bear flag). The bulls have two options, to either let them score (drive BTC lower), or deflect from the support levels directly below.
The bear flag has been forming for a couple of days now,...
Since our last post, we've seen a drop to our support trend-line.
What we have on the chart today is a little different. We've observed a possible H&S pattern in the making, similar to the inverse H&S below. Per our observation, IF we manage to break below the neckline (in purple), we might be looking at a drop to around the $6,800 level, as we...
To get right into the action; we saw a breakdown from the 1200 EMA. As you can see from our previous post, we mentioned that a breakdown from that level could be the first step to the start of a new downtrend cycle.
We also have the dashed trend-line (in white) that failed to act as a support, and is currently breaking-down as we write this...
To those who are wondering what's next for BTC:
We have come up with 4 possible outcomes for BTC, and will explain what conditions must be met if they were to happen.
1. The Continuation of The Rally:
In order to see a continuation of the rally, we would like to see a confirmed break above the downtrend resistance (in red) and the 61.8% fib level (in green)....
Greetings to anyone who is reading our analysis,
To get right into the chart, we have a couple of levels to consider currently as we move forward.
First, we have the falling trend-line resistance (in red), coupled with the 61.8% fib level, which held BTC down from approximately 8400.
Second, we have the 1200 EMA below (in purple), which held as a supportive...