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Chart Time: Daily (~4 year history)
Pink = 20 EMA
Blue = 200 DMA
Main Trendline (2014 start)
1: We don't need to regurgitate how awful 2018 has been for BTC and crypto markets as a whole. We have found ourselves in the top 3 worst recessions so far in BTC history measured in terms of price correction + duration. So congratulations if you're ...
It's great to see BTC find support at the 50 DMA (orange TL). Things will be extremely bullish if we see the 15 DMA (blue TL) and 20 EMA (Pink TL) move above the 50. We haven't seen this move since back in April.
There will be major resistance at the 50% Fib extension level. Partial profits can be booked between the 61.8 to 78.6 Fib extension. Stop loss ...
This is the daily chart, which means each one of these candles takes 24 hours to close. This is the best timeframe to confirm if a trend is intact or not. You can go shorter time frames to get insight, but I look at the daily to form my trading ideas.
The blue descending trend line has finally been broken (see green candle highlighted) in what seems like ...
Let's keep this analysis clean and simple.
I won't be bullish on Bitcoin until it can break that descending blue line. You can see BTC getting squeezed and each drop is exponentially increasing.
RSI - Still showing bearish divergence, however, it is making higher lows.
MACD - Same story as RSI and making higher lows.
The biggest factor here is market ...
2 possible BTC trade setups if market conditions allow.
Check it out.
We are all super excited about the RSI, MACD and DMI on the short term charts, however, I'm still seeing a possible bearish divergence taking place.
Also on the longer term charts the 4hr is showing heavy resistance at the 200MA. Tested it 3X and failed to break. See my other analysis on this.
Are we in consolidation phase and looking for a possible leg up or ...
This is the 4hr chart update.
As you can see BTC has struggled to move above the 200 MA. Has hit near this point 3X now. The positive is that RSI, MACD and DMI are trending bullish. However, RSI is hitting it's max around 60 on the 4hr and this is keeping the price action from moving beyond key resistance levels. Other positive is that BTC is closing with ...
all analysis in the chart. things are looking great on the 4 hour chart. volumes are back. RSI is trending in the right direction. What's stalling this recovery tho is RSI is hitting major resistance around 60. however, the MACD and DMI are starting to show a positive story. lets see where this goes.
On the daily we are still trading inside a descending ...
Analysis is in the chart.
Long story short we still have a long ways to go and the momentum indicators are not looking great.
If you look at my other analysis on the hourly chart you'll see a bearish divergence taking place on the RSI. Seems 70 is the cap in this market and this is why we are seeing prices stalled around 8.5K zone.
Anyway have a look at what ...
BTC Market Update:
"The four most dangerous words in investing are: This time it's different"
-Sir John Templeton
BTC has been trading sideways with no clear direction. Let's examine what the charts are telling us.
The bulls have defended my support zones (1,2) after breaking out of my ascending line. However, it is hitting two minor resistance ceilings ...
What a ride the last few days. If you were patient and ignored all the FOMO, bear traps and naysayers you scooped up some BTC around 6k...well we proved those #HODLers wrong. Thank you shorts. We scooped up positions around 6k levels at record low RSI and we thought we were going to the moon. Buuuttt not so fast.
We all know BTC is hitting ...
We like to complicate things with EW, FIB, fractals and more complicated approaches with insane trend lines looking at every possible time frame. At the end of the day the best analysis is the clean and simple.
I don't really need to go on and explain whats happening here as it explains itself.
Let's just say RSI won identifying the bearish divergence in the ...
Keeping this short and simple as I'll be using this short term chart to help support any longer term trendiness. It's looking more and more bearish people!
It looks like what is wave 7 of my analysis that BTC price just fell below the bottom ascending line. momentum is not accelerating which can also be confirmed by the bearish divergence we see in the momentum ...
I'm going to keep this short and sweet. I think we all have read just about every published idea on where BTC is headed in the coming weeks looking at fractals, Fibonacci, EW theory and some 5th grader trend lines. At the end of the day in a bear market it's rather simple to identify resistance levels especially when they have fallen from just about ...
This is not really a technical analysis publication. I just wanted to put somethings in perspective as to how bad this downturn is. We will more than likely need another retest of the recent lows for a further bull run to be intact. Why? Because we haven't seen such a sharp back under the 200 MA in recent Bitcoin history. At least not in the past 3 years. ...