The Parabola seen here is a common and fairly reliable bottoming pattern. Bouncing off the high of the previous price surge is also a common and reliable bottoming pattern as resistance becomes support. It is bullish when you see that buyers and sellers are coming into balance above support.
These estimates are based proportionally in percentage terms on the previous wave pattern seen in $RVN in 2018, this wave pattern appears to be similar but on a larger scale. BTC and ETH made similar moves in their early days. The timeframe is the big question, the volatility in BTC certainly could delay things. The pattern displayed above is invalidated if the...
View pitchfork chart linked below to see the current cycle of highs and lows.
After the previous cross, they never crossed bearishly clear from BTCUSD $260 through $19'800. They crossed to the downside after the 2017 bull market ended.
Bitcoin is on a 656 hour monthly cycle (27.33 days) see the chart linked below for an explanation. 24 Sidereal EMA was support before capitulation and is now resistance. Anyone who thinks the crypto market is going to come back down hard simply needs to look at the S&P 500 chart after momentum reversal. When momentum reverses this hard you do not want to be short...
Anyone who thinks the crypto market is going to come back down hard simply needs to look at the S&P 500 chart after momentum reversal. When momentum reverses this hard you do not want to be short for long , the trend is your friend and all that. It is folks shorting with leverage and getting stopped out that fuels the initial parabolic move, it continues as more...
This is due to the 18 Sidereal month EMA resistance. Wave 4 will likely bottom at $4830. I believe the 5th wave will hit $5800.
...uptrend on the daily chart is confirmed above $17.50
...beyond that, there is resistance at $5230 and somewhere in the $5500 range.
Mean reversion takes it back to the cloud.
Bullish divergence on the RSI
If it manages to break through again I expect the price to rise to $5200 by the 4th of April. Failure to do so would likely trigger a pullback to $4580 by the 3rd.
If it manages to break through again I expect the price to rise to $5200 by the 4th of April. Failure to do so would likely trigger a pullback to $4580 by the 3rd.
Cloud resistance is at $17.60
...so is increased volume and price action in the cryptosphere. Anyone upset about the RVNBTC chart should take a look at the RVNUSD chart where a new all-time high was set $0.074. As BTC consolidates and likely pulls back a little over the coming days, do not be surprised as altcoins begin to make new highs.
Assuming that BTCUSD continues to consolidate around $4800 GBTC should go above 5.70 and as high as 5.95. If the price were to rise during the session, even by $100, I would not be surprised to see the price hit as high as $6.00 .
Bitcoin shot through the cloud once it broke through the $4200 where apparently all short positions had set their stops. People think this is manipulation and what not but it has been moving predictably for weeks now. This is a daily Ichimoku cloud based on the average between Synodal and Sidereal months. I explain why in the chart linked below on the topic of...
Bitcoin shot through the cloud once it broke through the $4200 where apparently all short positions had set their stops. People think this is manipulation and what not but it has been moving predictably for weeks now. This is a daily Ichimoku cloud based on the average between Synodal and Sidereal months. I explain why in the chart linked below on the topic of the...