Pattern: 1D Head and Shoulders.
Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum.
Target: 870.00 (top of the neckline and symmetrical Resistance).
Pattern: Upside break out from a Channel Down on 1D.
Signal: Bullish as break outs on the previous Channel formation resulted into a reversal.
Targets: 125.000 (0.618 Fibonacci retracement) and 126.800 (full retracement as the previous break outs resulted into).
I don't want to go into much detail on this one. This is just the current volatile price action explained by the assumption that Bitcoin is trading on a symmetrical pattern.
The July 2018 - December 2018 price action is close enough to be an inverse formation of the December 2018 - today formation. Their distance from High - Bottom is identical (144 as opposed to...
This is just a quick update on BTC's current stress zones. The outlook after Friday's sell off is a High Volatility zone within 6855 - 7455 where the price is currently consolidating. A high volume break above or below this zone will set the direction for the next 48 hours.
Notice how the supply channel started on April 25th has provided support so far on more...
On this analysis I compare Bitcoin's two most recent cycles: the 2014 - 2016 and the current one 2018 - 2019.
What stands out is that even though they both followed the same trend line (i.e. after the peak the bear market followed, a bottom was made on the parabolic curve and then the new bull cycle gradually started), they tend to diverge at some parts, only to...
Much is being discussed over Bitcoin's recent hyper aggressive rise. It is beyond any reasonable doubt that it is a strong confirmation that the new Bull Market has started. Backed by strong fundamentals, this time can be different, more aggressive and unpredictable.
It is interesting however to keep in mind how such parabolic movements typically end up. For...