So here I am looking at 4HR candles to get a sense of what I can expect bitcoin to do over the weekend.
Right now I see a "hidden bullish diverging" pattern is forming quite nicely inside of the pennant.
A hidden bullish diverging pattern is characterized by higher lows on the price movement, and lower lows on your indicator. Here I am...
BTCUSD has been in a very nice uptrend over the last week (8 days to be exact). In that time frame, we saw a low of $9,124 on July 28th and a recent high of $12,328 as recent as August 6th. Talk about volatility!
Since August 6th, BTCUSD has been in a correction mode on the 4HR and looks like its headed to the low $11,000's for a retest of key...
BTCUSD has been in a clear uptrend for around 8 days at this point. It has reversed the previous downtrend on July 27th, 2019.
BTCUSD is now testing a resistance level at 11,099 with OBV sloping slightly upwards and RSI indicating slightly more juice left to give in the fight.
It is important to keep an eye out at price movement around this level. If we see a...
Spotting a nice head-and-shoulders reversal pattern forming as outlined. This coupled with the RSI indicating buying pressure as well as a MACD signal line crossing above the MACD line leads me to believe that we will see some positive price movement in Matic Token going into the weekend.
BTCUSD tested a key support level at 10,200 and broke through. I am expecting a retracement back to 10,200 from the current level of 10,000. If this level is rejected and treated as a new resistance level then I believe we will have a bearish week in BTCUSD.
Idea will updated in a few hours after I see how the price plays out.
This bitcoin party has been fun, but alas all good thing must come to an end...at least in the short-term. If you followed my last idea, I was spot on and if you were lucky enough to buy in before the bullish breakout you'd have caught an easy 10-13% in a day. Most mutual funds would kill for that kind of return. The S&P 500 returns that in in year...
Hope all had a safe and celebratory July 4th weekend. You maybe tired and hungover, but I am of the belief that BITCOIN IS NOT. I think it is gearing up for a bullish run of around 15% during the start of Monday and into the work week.
We've seen some price consolidation since the June 26th highs of 14K with increasing volatility we haven't seen in...