Bitcoin is Bullish for 3-4 days, it stays nicely above 200 EMA (we talk about lower time frames)
There is a nice pattern that keeps repeat, the price is moving slowly upward followed by a sudden crush, but the interesting thing is that the crash don't affect in any way and the price starts to climb right after.
RSI (21) gives a better picture.
So it will...
3 of the most popular indicators (RSI, MACD and Stochastic RSI) are divergent with the price of Bitcoin
There is an accumulaton zone, wich will end with a big candle (like we know)
From TA, that candle will be red, but also like we know, Bitcoin doesn't care about any TA.
Well...in smaller time frames, high-low projections are tighter with each candle, so something it will happen...doh...
Last almost half a day it stayed in less than 0.75% range
Bollinger Bands are like a ballerinas hips, are squeezed to the maximum.
Momentum for Stoch RSI is almost crossed to a downtrend
So...what whould be? (my guess is ... red)
Well...something will happen...doh! But What?
EMA 100 is doing a good job as support, RSI is going slowly to bullish zone...
BUT! Stoch RSI is turning to momentum bearish cross and we had enough situation with traps, Bart heads and so on.
So...up, down or in cercle?
In the past few days we saw some upward moves after a long road of sideways, now Bitcoin is at a comfortable level, but still in bearish and accumulation zone, seen only in higher time frames.
The start is good, it cracked some important levels at 3.400 and 3.600, now the biggest challenge is 4.000 level.
It almost touched EMA 100.
If it breaks this level, the...
Ethereum (ETH) is the biggest winner from the top trio, it surpasses Ripple and it keep doing donnuts with ups and downs in lower time frames, good for scalping, or fast swinging for 1-2% profit.
If the rule will be applied again, it would be a down move till $145
There are lower lows, lower highs, Stoch RSI is crossing to bearish
But don't forget, we are in...
Nothing has changed, just a spike, if it's not a big candle, it's big wick.
There is a long way to the bullish side, next step is 4.000 (or a big fall)
But there are few signs for a bullish starting:
* 50 EMA is cracked
* trendline is craked with that wick
* RSI in bullish zone
Signs that are against:
* for short term, Stoch RSI is going to a reverse
* there is...
New lower highs, new lower lows, accumulation zone, rsi is descending...nothing special
Bitcoin not even trying to crack the resistance, it just stay there...
Next support is at around 3.400
So...3.400 or 3.800?
Classic Bullish Flag pattern for Bitcoin (BTC) with a nice leg and accumulation zone, if Bitcoin will respect it, it will do the right thing and go up, but as we know, Bitcoin does not respect anything and we can see another Bart Head pattern.
MACD is turning to bearish, RSI is overbought, but Stochastic RSI is going step by step to an uptrend, so who should we...
The candle from today is not such a big deal, we are far from sunny days, it was nice to see how it raised like that, but it stayed too much on the ground.
There is a begining of a double bottom pattern with a lot of accumulation down there, but is a lot of work for doing it, the distance right now from the candle and 200 EMA is 40%, a move that can be done in...
As the past teach us, when is a big rise or a big fall, sooner or later it will come the reverse.
I hightlighted last wicks from the big moves, folowed by falls, the pattern is the same right now, the only difference is now it crossed the 200 EMA and cracked the 3.600 resistance.
Support will remain the same, at 3.400 (is consolidated) and the last support at...
There are two of the classiest patterns for Bitcoin, one is a Cup and Handle, that can turn it in bullish with possible retest next support, wich will transform in a double bottom.
There is a strong support at $3.400, only a big one will crack it.
Also a small, but stubborn resistance is at $3.550, but if it will break it, next resistance is at $3.700.
Keep it simple!
While the rest of the coins easily recover recent losses, the bitcoin does not seem to want the same thing. (according to marketcoincap)
There are four clear waves and half of the 5th with a possibillity of a small retreat before finishing it.
The RSI is going in bullish mode, but Stochastic RSI is not looking that great (I think Stock RSI is the best momentum...
A bigger picture of Bitcoin at 1D time frame.
The base was cracked, Bitcoin is in bearish for almost a year, it had hard recoveries and was forced to go down very fast, now seems the support it's doing it's job, but is not a must, there is already a wick in it, next time or after other attempts can drop again till 3.200, and from there...who knows?
If it will go...
Classic pattern drawn by Bitcoin (BTC) with a descending triangle that can be turned in two ways, a reversal for a breakout and turn it to a bullish or a break with that tiny support till the next support (wich is not so great also).
Time will decide...
Sure, except those pump and dump coins, but even so, Bitcoin and Ethereum are almost the same P&D coins, but at a lower level and more frequently.
A lot of spikes, tons of Bart heads, rarely respects any technical analysis, there are no rules, system overloaded, no reglementation...
This is wild wild west!