Bitcoin price had a surge after an extreme fall. The buying pressure is exhausted and we now see a completion of H&S price pattern in process.
Entry at $6,200 with a stop around $6,600 would be safe enough. Target at around $5,300 where there is enough buying power to absorb the supply.
Risk to Reward 1 : 2.8
I see a nice SELL candle which peaked at $253. Death cross of MA 100&200 at the same time on 4h chart. Chart formation resembles a rising wedge, which is about to fall.
Volume has been falling, and Ethereum was hyped on latest news in crypto media (e.g. "ETH whales accumulating").
While cryptocurrency market, including Bitcoin, was not moving any further up,...
Year-long uptrend is still in force, and we now know
BNB is currently in the middle of resistance-became-support channel. It had a strong breakout, followed by retracement of same force.
Conservative or retail buyers shall consider breakout of $20 level a BUY signal and set stop-loss at $18 area.
If $18 failed, we would likely see next strong support at $15-$16...
I've seen many interpretations of current Bitcoin cycle in the framework of Elliott Wave theory, and they are all different. So let me present my view as well.
Wave 1 of the Grand Supercycle (Violet line) was the first rally which lasted 3 years (2011-2014), on the chart you can see it comprising 5 waves. Wave 2 was a year-long...
This is my first analysis and I hope you will find it insightful.
Binance Coin (BNB) is a native concurrency of Binance exchange, and its price action represents fluctuations in hundreds of cryptocurrencies traded on Binance platform. It is easy to draw parallel between BNB and S&P 500 index - they both track cumulative performance of assets in...