Have we found the bottom in BTC? I would not buy until I see a break of the channel and a retest of the low. I would have to see a rejection of the lows twice before I can say the bear channel is over.
We have not made it back to the other side of the trend channel. We even tried to get past the midline and the EMAs several times but failed. If we do not get past the midline in the next day or two, the price of the Digital Gold will go down to Previous Support (9369.00). However, It will eventually find a base and trend higher.
Hopefully I am wrong about this but BTC could get another wave down that will be equal to the first two waves. I will be watching the price action on the daily chart once we reach resistance at the upper trend channel. If it shows weakness then I will prepare for another down wave. I am bullish long-term but we are still digesting this quick run up for now.
After a monster move up, we are conslodation and putting in a new floor with each day. As you can see BTC has not retraced more than 50% on that monster move. If you believe in the power of Fibonacci extintions or measured moves than the next leg up will be $27,000. The could take weeks or even months. However, the more we stay in the current pattern the more...
I'm the first to admit predicting BTC is shot in the dark because of the daily headline risks from governments, media, FUD and FOMOs. But here is my shot, BTC has tested the lows several times and each time is slightly higher. BTC will pop and get back above the raising trend line. That will be your buy signal to ride it back to the top of the range. That will...
We are in a nice range with IOTUSD. Currently, I see it retesting the lows then heading back to all time highs. Now is the time to start scaling in before the run up. Bearish short term and Bullish long term.
Now is the time to pick up some LTCUSD while it is range bound and out of the lime-light. It will have its day again. LTCUSD will test the bottom on the range than head back up to test the highs. So bearish on the short-term but bullish long.
The fact that we have been up at the highs for long and we have tested the 50 day EMA several times leads me to believe we are going higher. Not to mention the price action is setting up a bull channel so far.
BTCUSD has held the 50 day moving average. In fact it has retested it twice. I think there will be a third attempt which will create a higher low then its back up to the Target Zone. That's a 30% increase from these levels.