Price broke down from all time high, Finding support with 4 previous touch points in a falling wedge structure against the USD pair. Bouncing of HTF 61.8% fib retracement. - rally soon.
If the chart plays out as per analysis, an explosive move is incoming, reduced volatility for so long tells all!
If the ascending trendline breaks though and bitcoin is unable to break through 60k, get ready for a huge flush out.
With respect to the current crypto market, many of the altcoins have seen big gains, ADA being one of them. This current pattern seems to suggest that there will be more upside coming soon. We've created a double bottom and a 'W' breakout pattern with a break of the neckline and a confirmation above it. Price target in the .36 range
Clear head and shoulders forming on the Bitcoin chart. Bearish divergence on the RSI. Waiting for a clear break of the $22500 level with a retest to confirm the H&S validity. Shorting down to the psychological level of $20 000. Lets dive into lower time frames to look for more confluence
Price is testing critical level of 140,390. It is currently testing overhead resistance as well as a long term counter trend line. Waiting first for clear signs of reversal first on lower time frames. Good risk:reward of 7:1.
Gold has broken and retested the long term counter trend line and has also been successfully respecting the trend line it has been following.
It has now found support at the 50% fib as well as the 50ma on the hourly chart. This is clearly suggesting with a lot of confluence that the price of gold is going to be looking for new highs. On the 15 min chart we are...
Looking on the 4 hour Bitcoin chart. We have had a clear break of the long term ascending trendline and in turn have created a lower high. As we got the strong bounce off the $16200 range, its expected that a short term rally will occur. Hopefully rallying up to my short zone where we have many confluences suggesting that the price might reverse to much lower...
