Just something I have been observing for a while :) We passed the last major resistance in blue and retested it and now could easily go to 15500 before that next major resistance. I will put another few things I see on the short term too.
I would say 95% of people see BTC doing a pullback to 3k or 4k range in the coming weeks. I think BTC has some surprises for us! After analysing the price action and fractals of XRP, I have discovered interesting similitudes. This makes me believe we could see very bullish price action in the coming weeks where BTC could go as high as 8k. Time will tell :)
At the moment I'm using moving averages 20-50-200 and Elder's Force Index ( EFI ) and that is working really well for me in Bitcoin and other alts so I thought I would share my observations.
The 20 Weekly Moving average
As you may notice, the 20WMA is quite significant, during the previous bull market it acted as a significant support and has been the main...
This is how I see Bitcoin evolving in the next few months. This analysis is purely based on similarities with the 2014-2015 bear market.
I remember back in June 2018 I saw in a crypto conference a woman (sorry forgot her name) at the head of a managing fund firm mentioning that 6k was unlikely the bottom and that Wall Street would push the price down to 3k to...
Possible scenario in the next coming hours, if you are looking for an entry position don't be greedy. If you are chasing lower targets at least spread your entries in quarters. Good Luck :) This is educational only, I'm not an expert at all.
Interesting to see how the price of BTC is so well geometrically constructed, there seem to be multiple points of gravity/pivot points when the price gets compressed or when there is a change in price direction. I have noticed similar patterns at much wider time frames. I wish I had more knowledge in Maths/Physics to further elaborate on this. If you have any...
I think the chart speaks for itself but I would be happy to elaborate in the comment section :)
Forgot to add the RSI is meant to read Bullish divergence and the major resistance / support moving average is EMA 150, which is the equivalent of 21 EMA on the weekly.
let see how this black curve acts as a support :)
If it breaks there are still my two major support lines in pink
First Higher low since April 18
On the daily chart
MACD looking still wide open
EFI still above 0
RSI above 50
On the weekly chart
overall increasing volume
we are extremely close for a cross in the MACD
RSI making the first higher low
Bitcoin is very close to a major trend line, this line has acted as strong resistance and support for the last few years.
A break lower of this line would mean for me a longer downtrend to approximately 3500 and a next ATH by the end of 2019 / Q1 2020.
Are we ready though for such a long term 'quiet' market when there are so many exciting news in the world of...
This idea depends on how BTC will behave in the next few weeks and how Bitcoin ETFs will impact the cryptocurrency market in general. LBC is currently ranked #289 with a market cap of $20.30 M USD. With a line of good releases this year and potential good news LBRY could easily retest the all time highs or even go beyond that. This coin has previously behaved...
In my quest to learn more, I have decided to keep posting more ideas. You are welcome to join in & share your thoughts :)
Previous post I had the major resistance line shown 'wrong' as I was not working on log scale. Thank you all for commenting, I have learnt another valuable lesson! I have to say though it is still difficult for me to know when...