If you are looking a decent trade on binance, You can enter in loom at the current position around 4700 satoshi, with the stop-loss at around 4575.
The target is around 5200 satoshi and if we able to break the resistance line it can go much higher. With the decent reward-risk ration of 3.
Not a financial Advice.
Yesterday we had a good bounce with the decent volume, which means that the short-term downtrend is ended and now we are good to go to around 9000 USD, from there the faith of the BTC will be decided.
Now if we see in the long term chart, in this analysis I have used 1-week chart I can clearly see that there is a bull peanut forming on the log scale. So...
I was just waiting for this last dip, though I was in a little bit earlier. certainly, it's the best time to go in. Also by following the rule buy when others are fearful and sell when others are greedy, this simple line by Warren buffet works really well.
It almost hit my target which I posted around 2 weeks ago. I was expecting it to be around 7000, but it only...
There is something different this time on the 1-hour chart, It's working on higher high. there is much possibility that it will break upside.
But I truly believe that the volume is the soul of any chart. And that's what missing here. I think that big investor wants us to believe that BTC is dead and want to play with our fear.
1. If you are already in the long...
Here is one more indicator Fibonacci time zone I have added in the analysis which I personally think is the most powerful because of Fibonacci series is the most powerful in the real world. And According to this, the reversal day should be tomorrow. Whether we go down until 7000 or not but most probably tomorrow will be the end of the downtrend.
And If look at the...
On 1 hour chart of BTC there is a bear peanut is forming, will possibly break it soon. If it follows the previous pattern, we are going to be in the deep trouble. If 7000 doesn't hold it's gonna be around 6300-6400.
According to the chart, for BTC there are two possible scenarios I can see right now:-
1. It's in the downtrend which was started from December and right now in sideways action or you can say B correction way and it will take around 2 days to hit my first target which is around 7000-7100 USD and another 3 weeks to hit the next high which is around 9000 USD which...
Maybe we all are not looking at the bigger picture, On 1W time frame BTC is still overvalued(MACD and RSI over the middle line from a long time) and in the downtrend, it's just doing sideways action and it may take around 1 month to continue the downtrend.
Not a financial advice.
As it is not able to break previous high on price as well as on RSI(RSI have rejected again on 30 min chart)There might be a possibility to drop around 13.80, where 14 level may become the emotional support.
Right now for binance coin, three indicators are showing then it's gonna go down further, And a three bottom reversal pattern also forming on 30 min chart. RSI trend break, MACD and trend line resistance are showing that it is going down further. Let's see what is going to happen
From this point, there are two possibilities for the BTC.
1. In both cases, the 1st wave is completed for sure, but for the second wave or correction wave, it may be completed on only 38 percent, which is not much likely. from here it will be heading towards the 3rd wave which will take it around 11700 USD, but before this, it has to clear a major resistance which...
As you can see from the chart that it all started from around the level 6800-7100, from there it went down a little bit and then it started the massive bull run in December, from the chart you can see the bearish trend in which it is collapsing, those lines are cutting around 6200 which is a mere possibility because it has a strong support at around 6800-7100...