Let's get right into it.
I was definetly wrong by expecting BTC to bottom out BEFORE some sort of pullback to the upside.
That's what trading & investing is.
You can't/won't be always right, and in case you were wrong, you SHOULD admit it and adapt to the most recent developments.
During my previous analysis, I mentioned the possibility of BTC reaching...
As expected, BTC failed to get a sustainable brekaout above the 9.000$ mark.
We got a retracement of almost 500$ over the past few hours.
Anyways, things are getting pretty interesting now and I'm still considering a bearish outcome to be the MOST LIKELY one.
However, I do NOT EXCLUDE a bullish outcome.
It looks like BTC has been forming...
Right now, it's make or break for Bitcoin.
We are currently testing December's resistance line.
On the Auto-Scale, we broke through that line already, but not on the logscale.
The overall sentiment is bullish and I don't get why to be quite honest with you.
Yes, we had a 30% increase in two weeks.
Yes, we are forming higher highs and higher lows short term....
BTC is currently fighting it's way up and forming a rising channel.
I'm personally expecting a pop up within the next few days.
History loves to repeat itself.
That's why I expect the upcoming upwardsmomentum to be the final leg up, before we have capitulation taking place.
Notice how during March the exact same channel has been formed after price boomed to the...
Currently at supply zone.
Expecting a pullback within next week.
Notice the bearish divergence on the daily chart as well.
Happy & Safe Trading!
Great evening ladies and gentlemen,
so today we got a pretty unexpected & strong pump.
This pump invalidated my initial idea of retesting 5.800$ this week.
Since then, we had some sort of consolidation, which made us form a bullflag.
Target of the afore mentioned bull flag would be around 8.800$, which would correlate with our previous high/resistance during...
To be straight forward honest with you, I did not expect BTC to reach 7k before the major leg down.
But there are two important things I'd like to talk about.
1. Notice how on the log scale we didn't even break through March's downtrend.
Remembers me of the time when BTC broke through December's resistance on the auto scale, everybody was bullish and nothing...
Great evening everybody,
yesterday I made a recommendation on when to short BTC.
Everybody who followed my advice should have made some money.
Enough of the self-praise though, let's get to the analysis.
By now you should notice that the similiarties between now and 2013/2014 are NOT neglectable.
It's pretty obvious that BTC is moving much faster...
Alright Ladies and Gentlemen,
as expected, the bounce from 6.500 $ towards 7.400$ was nothing but just another bull trap.
We had decreasing Volume and an increasing price.
Nothing bullish about that to be quite honest with you.
There were multiple resistances at 7.400$ as you can see (Red downtrend channel).
Right now, we are moving under July's supportline.
Patience is key.
There's something interesting to notice.
Everytime we're having a BTC bounce towards a LOWER HIGH, people all of a sudden become euphoric & bullish, claiming the bear market is over.
There is no reason to be bullish at all.
Old supports are turned into new resistances.
Right now, BTC is doing nothing but...
I love to boil things down to an essence.
Everytime BTC broke through one of the white support lines, it took an average of 6-7 days to achieve a new spike low.
Thus I expect BTC to retest 5.8k$ in the course of the next week, forming a double bottom.
Stoch RSI is moving within the oversold range, so a bounce from there...
Bitcoin is currently moving within a key support/resistance level.
It's very likely that 7800 $ is going to fail as a support, forcing Bitcoin towards the next key zone, which would be around 7150$-6900$ (0.786 Retracement + Trendline from March 2k17).
Stoch RSI indicates further downwards momentum.
If the afore mentioned support fails yet again, it's likely...
So, overall Bitcoin is showing a few bullish signs.
I believe that the drop from 20k to 5,8k formed corrective ABC Waves.
If that's the case, we can expect impulsive waves higher.
Furthermore, BTC seems to be forming an inverted H & S pattern.
If Bitcoin manages to breakout the neckline (around 11,3k), 17k is a likely scenario.
Hard to say when exactly, but...