ADX and -DI are sloping down meanwhile a bullish DI divergence is taking shape (not shown).
Seems like a relief really can start quite soon, oversold conditions and Shorts near all time high could encourage an explosive rally.
However as per my analysis of two months ago we still hovering in the uncertainty area (shown in the blue box) so a clear medium term...
A big move is brewing, and signals give the odds to the upside.
1. Death cross almost avoided, the 50 and 200 MAs just kissed.
2. Price is respecting the triangle that if broken could give us significant projections either side and a bounce over the 20,000 mark if bullish on breakout
3. CMF showing a significant bull divergence suggesting a...
A quite nervous and volatile consolidation is taking place with Bitcoin, we are sitting on the edge of the trendline of this symmetrical triangle.
A break on the upsite will see at least 3 steps up with targets at 12600, 15900 and 20,500
A strong momentum and very solid volume is definetely needed to confirm the bull continuation considering...
After the rebound we are now consolidating just below the 50MA and a nice bullish pennant is forming confirmed by volume development.
A break on the downside is quite unlikely at this stage but it can see us retesting 9800 if this happens.
A more likely bullish breakout will lead us to a short term rebound to 10800 dollars.
For longer timeframes click below to...
Bitcoin is forming a very clear cup with handle pattern that seems more clear than the inverted head and shoulder (ongoing formation - see other idea below)
To play this pattern we can pick two entry points, one that is aggressive at the handle breakout with early take profit at 11300 dollars and a "proper" more conservative entry at the rim of the cup.
BTC is forming a clear inverted H&S pattern on the 6h/Daily.
We are at a critical price level to either Validate this pattern and see the start of a bounce from here or we will continue the bear trend to retest the 8000 dollar supply zone and even lower if momentum continues in this direction.
Points to note:
1. PPO and RSI bullish divergence in the making
A solid volume uptake together with a TK bull cross confirmation and price solidly breaking 9k could trigger a significant bounce back to higher with a solid 18% increase if we trade a edge to edge kumo.
Indicators show a solid bullish trend but price thresholds (9K) and increase in volume is needed to confirm the change of direction.
After the edge to edge kumo...
BTC is consoldiating from ATH and a descending wedge is taking shape on the Daily timeframe.
Indicators suggest oversold condition and momentum seems weak on the bearish side now
Hidden bullish divergence on the PPO suggest that we might see a push to the top of the wedge and maybe a breakout to the high side with a target to 22,500 dollars.
On the flipside if...
$BTCUSD #bitcoin is conoslidating nicely in a symmetric triangle, volume reflecting so, a breakout downwards seem premature at this stage and a bounce off towards the upper trendline more likely before a more substantial direction.
A correction to the high 8000 mark could be possible or a bull continuation towards 22,000.
I will keep updating as the situation...
Bitcoin had a healthy consolidation as expected from my longer term analysis (see link to related idea below).
Bullish bias still in play with strong fundamentals.
A symmetrical triangle pattern has developed and we are shortly due to a breakout.
Indicators are neutral to slightly bullish so the real direction could be seen only at breakout time when confirmed...
On the 6H chart we have a TK bear cross negation, last time it happened we rallied to + 237% to 20,000
A recovery to 20,000+ could happen soon or a further slide down to 11,000 dollars is possible (see my related long term idea below).
We have hit support in the cloud.
Indicators are all in oversold territory and MACD...
ETH has developed well and exceeded the initial target of +88% as per my previous analysis below.
Indicators as follows:
- Stoch RSI is showing oversold condition
- CCI has bounced off the 0 line showing a strong bullish sign
- MACD has a slight bearish momentum following the pullback of the previous days
We still well above the T line on the cloud and we had a...
As per previous price action, we bounced off once again from the 6H Kijun line.
Indicators show oversold conditions, so a retrace to higher is probable, however the overall picture is a bit different this time than the previous 2 bounces (highlighted by the yellow circles)
- RSI / CCI have both extended in the bearish territory
- MACD shows that a sell off...
IOTA had a sensational rally and is now consolidating in a simmetrical triangle pattern.
Historically IOTA had a correlation to BTC price movements against USD. If it still hold true and Bitcoin starts a correction IOT/BTC will follow.
If we break to the upside a top of +40% from the breakout could be possible.
Take profit along the way in...