After the breakout of $28xxx resistance, price continues to rise.
As my previous analysis, $28xxx resistance is quite weak, the high rate of BTC will breakout because it is currently in a mid-long-term uptrend.
$28xxx turned into short-term support.
Price forms Running Flat, creating a short-term upside momentum for BTC, targeting around $31000.
#BTCUSDT Daily Update
- After breaking out of the $ 24k resistance, BTC soared to hit $ 28k, you can review your previous analysis.
Here, BTC continues to react price and formed resistance of $ 28k, the price reaction has not seen anything special, so I rate this resistance is quite weak.
- Yesterday, BTC formed slightly the H1 frame triangle pattern, I...
BTC has formed an Accending Triangle that underpins the current uptrend
$24000 is strong resistance in short term, if BTC breaks out $24000 successfully, price can touch $26000-$27000
Stoploss at $22600 which is also the closest support level
After price breaks down $640 support, ETH goes down below $600
The upper trend line forms the wedge pattern
This pattern is quite large with expectation for a big trend to happen next
Price touching the lower trendline causes the price reaction, wait for more reversal signals to get a nice buy point, target $670-$680
In H1 timeframe
After ETH hits $676 there's a slight correction
Price forms an ascending triangle, after failing to break through resistance $676 three times
At the supporting trendline, there's pin bar positive signal in short term
If breakout $676, ETH could rise above $700, the closest support at $640
On the larger timeframe we have strong resistance around $800
In H1 timeframe
Yesterday, BTC was pushed up to touch $24170 derived from the head and shoulders pattern (this is a pattern with a high success rate).
- After that, price retests the neckline also the current closest support
- At support 1, there's pin bar candle - short-term bullish signal
- Within 5-7 days if the price still holds well above the 2 supports...
The time to accumulate and return to the old peak 2017 is same as 2020
At the beginning of 2017, touching ATH caused the price to react strongly.
After that, price took more than 3 months of correction in the Running Flat pattern showing the strength of $1000 resistance. But 3 months is nothing compared to more than 3 years of accumulation to help BTC break all...
After the Engulfing candle pair appeared, price increased sharply to reached $18800.
Right at the engulfing candle, we have short-term support.
Price is likely to return to test this support zone again before rising to $19xxx.
Expectation remains a break out of $19888 for a strong rally, continuing the medium and long-term uptrend.
In h1 timeframe, currently the main trend to bearish
After 2 days, running flat corrected wave appeared, consolidating the short-term downtrend
The downside target at $162000-$16900 is also the last support in this price zone
In general, there is not enough signal to enter top coins, you guys should be careful when enter countertrade
- In H6 timeframe, price continues to decline and reach $17500-$17800 support
- A Pin Bar was formed, showing the effectiveness of this demand zone
- Currently, pin bar is a positive signal
- Over the next few days, the price needs to hold above this zone, accumulating long enough to go up
- This positive signal will be meaningless if the price breaks down $17500
The red candle breaks down from the triangle pattern confirms the short-term downtrend.
BTC has 2 important supports $17800 and $16800. This will be the target for the end of wave C to finish this correction (analyzed in the previous post).
The updated lower low & lower high topcoins yesterday also dropped to the support level at the start of this uptrend.
In H4 timeframe, BTC formed a triangle pattern and some other topcoins like XRP.
This pattern shows the indecision between the buy and sell sides gradually coming to an end, as the trading volume decreases.
The dripping volume is a signal that the trend is about to continue.
This pattern would be a good position for both long and short side.
Along with decreasing...
After touching $18500 support, BTC touches $19888 resistance again.
This 4th the price retests $19888, proving this is a strong resistance.
In H4 time frame, potential model includes 2 cases
- Case 1: The current price is following the Running Flat corrective wave and the downside target will be $16900 after breaking down $18500 support.
- Case 2: A Double Bottom...
Yesterday, H1 timeframe wedge was broken down and continued the short-term downtrend.
A little tip, price range after the breakout, will be approximately equal to the price range during accumulation
So after getting out of the wedge , price reaches $18000 - $18600
Why is the H1 frame support so large?
Depending on each person's school, the drawing style will be...
Yesterday, from the bullish H4 signal, the price increased slightly to hit the $19600-$19800 resistance zone and continued to react.
In H1 timeframe, price has formed the wedge pattern
The end of the wedge and $19600-$19800 resistance form the confluence zone, if price breaks this zone then BTC continues to ris
The nearest support $18900
It seems LINK likes to move in parallel channel
Price going in the parallel channel increase slowly and take a lot of time, price will increase dramatically if breakout the channel.
The nearest resistance is at 14.2 - 14.8, price will react when hits this price zone
Relatively wide support is located at 11.2-15.5
Price continues to react to the $20000 price zone causing a correction
The correction is represented by a Long-Legged Doji, showing that the buyers are waiting to push prices up
Pair of Bullish Engulfing candles appearing after that is also a bullish signal that we need to pay attention to
Breakout $19888, BTC will increase sharply
Wait for the breakout signal to confirm