PandoraInsight

PandoraInsight

After couple of rejections at a crucial $2000 zone, expecting the price to fall back to $1950-$1930 areas

PandoraInsight

The weekly price action is completing a double top formation and daily price confirmed bearish outlook with lower high. Expecting the price to drop to $440 area, and given that its weekly tf forming double top, price will probably go even lower to areas of support like around $410.

PandoraInsight

Looks like the price has settled on a daily support zone. After small consolidation on the support area, expect the price to break the last resistance zone and test $78.5 at the very least.

PandoraInsight

The price drop slowed down on an all time low demand zone. And as per the price action, it seems we might see a small trend reversal up to $70 area where the price will hit strong supply area. But if the price closes below $60, we will have to reconsider our entries.

PandoraInsight

Looks like black gold is headed south after completing bearish pennant. First demand zone isnt likely to hold the price and will probably drop it to the next demand zone. Let me know what you think.

PandoraInsight

Seems like price just completed the 5th wave just below the resistance area. And if thats the case then we will be seeing a continuation to A, B and C legs to fully complete this wave and start a new one.

PandoraInsight Updated 

The price established itself on a strong demand zone and seems like its going to make some gains up to $543,000 area. Upon reaching that area the price might break through the supply zone, in which case we can expect a rally to the last high of $566,000. Or else, the trend will reverse back to its current point.

PandoraInsight

There is a very real chance Bitcoin will get rejected the 3d time from the supply area, which is coinciding with the upper limit of the channel. This rejection will cause the price to drop to $25000, thus forming a head and shoulders pattern in daily and weekly timeframes. And it wont look good from there as its very likely $25000 wont hold for too long,...

PandoraInsight Updated 

I am expecting a rejection from the supply area down to $455.9 or even to $440 if the former doesnt hold as the volume has palpably decreased in a sign of weak demand in that area.

PandoraInsight

Trend seems to be reversing around this demand area. Potential entry points here would be $27, $26, $25 depending on how the price behaves at each level. Upon reversal I expect the price to hit $30 or $32 where we reconsider our position, again, depending on the price movement.

PandoraInsight

About to break down from bearish flag down to levels indicated on the chart

PandoraInsight

The market is accumulating momentum to reverse the trend and will soon test at least one of the resistance levels indicated on the chart.