Morning everybody, Our long-term bullish background is almost set as it is just 2 sessions till the end of the July and hardly possible the drop below 29K lows. But for position taking with this setup on monthly/weekly charts we need healthy retracement. Now BTC stands in a first more or less solid upward action and gradually is coming to 42-43K resistance area....
Morning folks, So BTC finally shows thrusting action and we hope that this is just a beginning. WE already mentioned potential bullish grabber on monthly chart that suggest return to the top. Now, we recent jump chances are higher to get it. Hopefully Fed statement doesn't hurt it too much. Besides, previous week has become the bullish reversal one. Based on...
Morning folks, Today we consider small pattern but with huge potential. At first glance, this is just reverse H&S with potential entry area around 31K and target around 34-35K that could become the top of right wing of the pattern from our pervious idea before drop to 26 or maybe 24K area. But, July could become decisive month for BTC as we could get bullish...
Morning folks, Market has shown anemic action since our recent discussion and overall situation looks heavy by our view. First is, recent downside fake breakout it seems is becoming not fake any more and this is absolutely irrational behavior. After fake breakout price has to move at least to opposite border of consolidation. This is just how markets work. As we...
Morning guys, Market looks heavy now, and personally I'm tending to idea of downside action, mostly because BTC has erased bullish patterns that we've discussed last time, and it can't get started upward action on weekly chart, although fake downside breakout of flag pattern has been formed. This "inability" usually leads to new lows. So, currently we do not...
Morning folks, Last time we've talked about possible bearish context that might be forming on the market, but in recent 2-3 sessions situation has changed significantly and we have to postpone consideration of bearish positions by far. On daily chart we've got three in a row bullish grabbers that suggest action to 36K at least. It means that we have to wait...
Morning folks, So, last week we were watching for bullish scenario, whether market will be able to form some bullish pattern, while it stands above crucial 32.5K support. Although some attempts are made to proceed higher, BTC was not able to hold on a surface and dropped below the major level. As we have very similar situation on other markets, such as Gold and...
Greetings everybody, So, despite we've got relatively good NFP numbers and our H&S has worked nice - we still think that BTC has room for bullish context and its not cancelled yet. This is because of few details that we have here. First is, recall our "222" Sell on 4H chart from previous "idea". Downside action stopped at 5/8 Fib support area after H&S has been...
Morning everybody, So "222" Sell operation has done perfect. This is good preparation for NFP release. Right on top of "222" reversal we've got H&S pattern on 1H chart. Now, "222" is completed the minimum target as 3/8 Fib level is touched. But if you intend to keep shorts - move stops just above the right arm of H&S. Those of you who doesn't have short...
Morning everybody, Today, guys, I do not want to consider extended perspective, although W&R pattern that we've discussed last time is positive and I still hope that BTC will try to reach 40K - the upper border of consolidation, I still would like to consider today shorter-term perspective. IT seems that we have some signs of thrust on intraday chart and it is...
Morning folks, So, minor dive here has happened, for the truth sake, it is not to 26K, but daily bearish dynamic pressure is done, as this pattern suggests just appearing of new lows, whatever lows are. Anyway, right now the major interest stands on intraday charts. First of all, this minor spike is fake downside breakout, "Wash & Rinse", when stops have been...
Morning folks, It seems that current situation doesn't need a lot of comments. As market has broken down key intraday support on a background of Fed statement - short-term bullish context successfully was broken :) Now, on weekly chart market is not oversold any more, so it could keep dropping. Although other market have hit major downside targets on Friday and...
Morning guys, So, market shows good performance in general and barely has not reached our 42K target. You probably heard about stunning Fed statement yesterday that has triggered the collapse on FX and Gold market. Now take a look to cryptos - not bad resistance to the dollar's strength. Although we have some pullback but it is slow and gradual. It doesn't shows...
Morning folks, Recent week market shows much better performance than before and on intraday charts downside tendency has been broken. This lets us to consider upside 42K target with AB-CD pattern. As upside pace looks nice, we do not exclcude chance of testing major 3/8 Fib resistance at 43.3K as well. At the same time I'm not dare to say that this is major...
Morning folks, As we've suggested BTC slipped, but not enough as we've suggested action to 26K area. Although it seems nice rebound right now - we have no clear bullish context: no divergences and no clear bullish patterns. In fact "LH-LL" tendency is still valid. This makes us think that it is not proper moment for speculative buying on daily chart. We need to...
Morning folks, So, market stands in the same triangle pattern, that theoretically keeps door open for both directions. Still, by few indirect signs we suggest that it might be another downside breakout. First is, triangle is formed after downside action, and its a continuation pattern - just to thing in a row with classic technical analysis. Second is - take a...
Greetings everybody, Market has not set the direction yet, forming triangle on daily chart. By indirect signs, it seems that downside action to 26K is not totally denied. First is, upward action stands very slow and gradual and it difficult to treat it as upward recovery and bullish reversal. Second - MACD trend stands bullish while price action is not yet. As...
Greetings everybody, Market stands in 4H Triangle pattern, keeping door open for both directions. For long entry we need to get clear reversal pattern that we do not have yet. It might be the butterfly that we've discussed last time, H&S, or any other. So, if you prefer to wait for clear patterns before pooling the trigger - then it would be better to wait a...