Looking at the 4H time frame analysis, we can see that the market formed itself into a rising wedge. This isn't looking too strong for the bulls as long as we stay inside of it. Should we see a break out below the ascending trendline, our bears will then take over and first short term target area will be around 5600. 7000 is a major resistance area for now,...
FUNDAMENTALS: The market's opened up on a rough note Monday morning, but later during the day the Federal Reserve announced another QE program which boosted all the markets upwards in general (including Bitcoin). Later following those news, we saw Dow opening with 300 points below, despite the Fed's stimulus move, which ultimately pushed down Bitcoins price from...
We have finally broken below the trendline that was formed and respected since May 13th as mentioned in the previous posts. It is now looking very strong for the bears. I am expecting to get a pullback towards the broken ascending trendline to enter further short positions. Next week we might see Bitcoin drop very hard so buckle up everybody, we are going for a...
Going to keep this one short and simple. Our bearish sentiment remains and the only obstruct we are faced with at the moment is this 4H ascending trendline that's been refusing to break through ever since May 13th. We can not fully confirm our bears if we won't break below it. We saw 4 clear rejections from the trendline now, but the rejection volatility in the...
4 HOUR ANALYSIS Price consolidation failed to form bearish momentum within our ascending and descending trendlines forming a wedge as seen on my previous posts. The price broke out of the minor resistance of 6000, and went up going to 6500 where we had our short entry placed. Fundamentally speaking, Friday started off with positive economic news, which ultimately...
We are finally presented with more accurate technical analysis details on which we can more or less rely on here...As you can see, we managed to break out of the descending trendline from my previous posts coming up the our first crucial zone of confluence on the lower time frames. 5900-6000 is currently our holding resistance level and we will be looking to take...
Hey everyone, I just want to clarify that i'm not here to discuss the fundamental future of Bitcoin (like the regulated implementation of it in the real world), but instead, show you a very simple long term understanding of where the price might take us, especially after the 3rd consecutive block reward halving that will occur in May. You may have seen a similar...
Not going to lie, this $700 Billion fed quantitive easing program caught me off-guard yesterday night. We all saw a huge spike upwards in the price moments after the news have been released, breaking the key trendlines and going against our technical analysis elements, only to find out this effect would create a "fakeout". Personally, I think this is the same old...
Looks like our technical analysis is no longer viable here. I had my bearish sentiment on my last 3 posts, however, with the recent news that just came in, I was forced to close my short positions for now. The fed decided to launch a 700 Billion USD quantitive easing program, which pushed Bitcoins price over 5% upwards instantly. Remember guys, the fundamentals...
Looking more longterm on the 4 hourly candles we can see that we formed a doji candle indicating short term directional change within the market. We just recently touched a MAJOR resistance point of the market around the area of 5600, which ultimately could create a nice looking double top. Watch closely how the 4 hourly candle plays out because this was a huge...
Following up my previous idea...it seems that I posted it rather early and should've allowed the market to consolidate a little bit further. Anyways, I still have my bearish sentiment on the upcoming breakout from this triangle, and it appears that it is going to happen quite soon! Watch closely for the breakout! This is NOT a financial advice, trade at your own risk!
If you've been looking to re-enter shorts on Bitcoin during this madness then we can see the price approaching the 3rd touch of the descending trendline formed on the hourly chart. We EITHER break through or bounce back from the higher low of the trendline into the next possible wave of shorts. I still believe we have a great possibility of seeing the price form...
9500 failed to act as the support, currently formed into resistance. The ascending trendline has been broken and we are currently looking to retest it for potential shorts. Watch for price action to play out in the next few hours to confirm the break, otherwise could be a "fakeout", however, highly unlikely considering the sell volume rapidly entering the market.
Ever since Bitcoin hit the 6,900 price area, we have been seeing a continuos bullish market momentum following our ascending trend line on the 4H time frame. Recently we achieved the psychological resistance level of 9,000, where the buyers seemed to have had their stop losses set, therefore, bitcoin unfortunately failed to break through. So with that being said, ...
Hello my dear friends! Today I am here to provide you with some insights regarding the Bitcoins block halving in May 2020 and how it will affect the overall Bitcoins performance on the market. I believe everybody should be aware of this so it is my pleasure to share this with you. The information below is constructed from various research articles and personal...
Since the original Brexit deal announcement was postponed (again) till December, we will be looking at technical aspects of the chart. Here is a simple short idea supported by the Double Top formation from the previous resistance. As for the indicators, the RSI is slowly making its way to the overbought zone, giving us a suggestion that we can see a wave of...
It is safe to assume that once the market opens (and this includes other GBP pairs as well), the market will start showing bearish pressure due to the news over this weekend. Once again, we saw the British parliament defer Saturdays vote in order to have more time to study the details which forced Boris Johnson by law to request an extension from the EU (even when...
Quick Sideways Market idea on USDJPY. Support area has been achieved and now there is a possibility of a reversal. Trade at your own risk!