Tom-Jones

Tom-Jones

Looking at the 1H it seems to be important to watch the RSI. When it starts coming down we can get back into the wedge that leads us to 8850. This will cause a double bottom with the 28 januari wick. The fractal from a similar time when this happend is confluent with the downsloping

Tom-Jones

We can see some harmonic patterns forming on the Bitcoin charts. CRAB BUTTERFLY Crab time fibs line up perfectly with Butterfly Butterfly fibs lineup with Crab But there is also a wedge with a lot of confluence: - The blue butterfly 15.236 time-fib extensions aligns with the end of the wedge - The red crab 5.0813 (yes 0.813 is also a fib) also aligns...

Tom-Jones

Bitcoin hardly doing anything looking at the higher timeframes. Still could be a diamond playing out again. But I will first see real conformation for any pattern at the moment before I get into a trade again.

Tom-Jones

Looks very good now for Bitcoin after a retrace and breaking back up into the bigger up-sloping channel. If we can close above the 9350 with the monthly close then there would be no reason not to see the 10K level soon.

Tom-Jones

Will we see a bigger retrace if bitcoin fails the 3rd time to break this level...?

Tom-Jones

The 9350 - 9500 region has big resistance, before we can go higher we need to have decent support by the 0.618 fib-level.

Tom-Jones

The diamond I showed yesterday played out, but..... Not to the upside as shown in the chart but to the downside.

Tom-Jones

Bitcoin just came to the same level as yesterday and wicked down immediately. This could be the last push we need to overcome this big resistance zone.

Tom-Jones

After the breakout of last few days, bitcoin returned to the up-sloping wedge that will bring us to the 10500 level. But before we can reach that level we first have to overcome the very strong resistance on the 9400 - 9500 level. If we can find support there there is not much resistance anymore to move higher.

Tom-Jones

COINBASE:BTCUSD When looking at the Bitcoin chart in log scale you could consider that Bitcoin is only making bull flags. When you study it more in detail you will see some nice confluence on the fibonacci levels.

Tom-Jones

Bitcoin is forming a potential diamond pattern on the 30 minute timeframe. Because we entered the diamond from the downside it's most probably that we will break out downwards.