The daily candle 7 hours prior to close is printing a bearish Shooting Star.
Considering we are trading within a heavy resistance band, this candle gives us opportunity to short below 47.5k with stops above at 50.5k.
My target is support at 30k.
3 hours prior to closing, the Bulls have gained further territory against the Bears' defences.
We're printing a Morning Star pattern with the most recent 3 dailies which supports a long bias.
Steady increase in buying volume since June 20.
Resistances at 34.6k, 37.4k, 41k.
This is not financial advice.
After testing the sub 30k liquidity zone, our daily candlestick for June 22, 2021 (3 hours before close) is a long wicked ~hammer candle piercing yesterday's big red candle.
Daily volume supports interim long bias.
Also known as Obsessive Bitcoin Disorder
By Dr. Pumpeet Upderr
- New Journal of Rekt Medicine, 2023
According to the DSM-13, Bitcoin Syndrome (BS) is “a mental disorder characterized by continuous, obsessive, or intrusive thoughts about the price of Bitcoin.”
Many BS sufferers obsess over the price of Bitcoin for the majority of their waking...
The deathcross refers to the moment in time the 50 period moving average (50MA) declines below the 200 day moving average (200MA). This indicates a weakening trend.
The first Bitcoin deathcross happened in Apr 2014 and led to a ~70% price decline over 280 days.
The 2nd Bitcoin deathcross in April 2018 led to a 65% decline over 263 days.
The 3rd Bitcoin...
3 Mountain Top Bearish reversal pattern confirmed by proceeding bearish daily candles. Fibonacci targets are on the chart.
Credit to Steve Nison for the excellent book, "Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment"
Japanese Candlestick chart analysis for the Bitcoin USD Daily 2 hours prior to closing for June 16th, 2021.
The 3 mountain top pattern started May 26-27 is complete.
We have a tower top pattern completed by the bearish engulfing daily.