cryptoTradingAnalytics

cryptoTradingAnalytics

The bitcoin price is still in the descending channel. Actually we are testing the high of the previous bull run around 19k$ as a support. If we brake it the next support is around 12k$. Looking at the current world economic situation and the forecast for it, I think the 12k$ is really possible (my previous post with the new Macdonald's BTC pattern is not such a...

cryptoTradingAnalytics Updated 

Logarithmic analysis is a statistical approach that uses historical data to forecast and predict future prices. In this case, the Logarithmic growth curve takes all the historical price data of Bitcoin and uses log growth analysis to develop curves that project a potential path of future price growth. Historically, we have seen Bitcoin price tends to bounce...

cryptoTradingAnalytics Updated 

This pattern was approved by Michael Saylor and Nayib Bukele! :) (Proofs: twitter.com twitter.com). More seriously, it can occurs because of theses factors already said in my previous analyse: * governments, if they don't ban, they want to regulate crypto market very soon and if it happens retailers will panic sell, tether will collapse as it is a scam. Many...

cryptoTradingAnalytics Updated 

We are actually at a very important phase for Bitcoin. If we will be rejected at the head & shoulders neckline at 42k$, this is for sure a fall down till at least 33k$ support and way more down till 29k-30k$. We should watch carefully!

cryptoTradingAnalytics Updated 

By analysing the Bitcoin price action in the past weeks, we can see that we got several traps (bull & bear) near channel trend lines (upper & lower). Is history gonna repeat itself? I think yes! Because of the factors previously said. I still think 33k$ is NOT the bottom following Bitcoin Logarithmic Growth Curve analysis which indicate it around 29k$, rightly...

cryptoTradingAnalytics Updated 

Finally the H&S reversal pattern was a great warning indicator of this fall down. Bitcoin price broke the yearly highest volume node at 41800$ and bounced from the 40k$ price level. Actually it has stabilised around the yearly VWAP (40700$) and can retest the 41800$. The 4H momentum show us a potential upward movement. The next resistance is...

cryptoTradingAnalytics Updated 

Bitcoin price reached the upper line of the monthly VWAP and is forming a bearish head & shoulders reversal pattern after the bull run from the bounce on yearly highest volume node at 41800$. The volume is decreasing. We have a bearish divergence on momentum. We have a bearish divergence on CVD (Cumulative Volume Delta, not shown on graph). www.tradinglite.com...

cryptoTradingAnalytics

To confirm this pattern we should break the neckline and move above 45500$ with a potential throwback to retest the neckline. The target is at around 60k$ which is a strong resistance based on volume and psychological level.

cryptoTradingAnalytics

We can see that Bitcoin price bounced several times from the yearly highest volume node at 41800$ (red line) which is a strong support. It tested also the monthly VWAP around 41650$ and Fib 100% extension at 41592$. As the Bitcoin price didn't broke all that levels, we can see that there is a fair value here and market has accepted it. From that point we can see...

cryptoTradingAnalytics Updated 

Bitcoin price broke the 42800$ support, bounced from next support around 41500$-41700$ and retested the 42800$ price level as a resistance forming a double top pattern which target is around 40200$ (Fib 0.382 retracement & Fib 78.60% extension). If the price bounce from that target and going back above the lower line of the local ascending channel it can be a...

cryptoTradingAnalytics

Bitcoin price bounced from Fib 161.80% extension which is common reversal point. We reached also the local Fib retracement around 44800$. The closest support is 43200$ which is one of local highest volume node. The next support is around 41500$ (fib 100% extension & local highest volume node) which can be close to lower line of local ascending channel and a...

cryptoTradingAnalytics

In crypto, the Bart Simpson formation, or just Bart, is a short-term chart pattern. In a Bart formation, the cryptocurrency market rallies sharply, usually on a shorter timeframe like 30M, and after a period of flat (sideways) action retraces all of its previous gains. The name Bart came from the pattern’s likeness to the shape of Bart Simpson’s head. On...

cryptoTradingAnalytics

A Five-Step Approach to the Market The Wyckoff Method involves a five-step approach to stock selection and trade entry, which can be summarized as follows: 1. Determine the present position and probable future trend of the market. Is the market consolidating or trending? Does your analysis of market structure, supply and demand indicate the direction that is...

cryptoTradingAnalytics

The local highest volume node at 36600$ showed a strong support zone . We touched also the pink trend line aligned with candlestick's shadow. After the second bear trap we moved till the upper line of the local ascending channel and 0.786 Fib retracement around 41990$. At this level we have also the third highest volume node. The second is at ~ 42900$. Maybe we...

cryptoTradingAnalytics

The Fib Channel uses 3 points: Low, Second Low and a High that's in between. Here, I've chosen the 2013 local low, 2015 capitulation low and the 2014 Blow off top at ~ 1150$. Note how the top and bottom of the channels are respected. Coincidence? Taking a look at the Fibonacci channel levels we can see that the previous top at ~ 19k$ was well respected. Almost...

cryptoTradingAnalytics

By looking volume profile from the beginning of 2021 year, it indicates the highest volume node at 33k$. So this level can be considered as a serious support. From that point we have seen growing each day til the 39k$ resistance and touched the trend line of global descending channel from which we got rejected and went down to the local highest volume node around...

cryptoTradingAnalytics Updated 

When USDT reach the green zone, it's usually a bottom signal and we can expect a bounce. When USDT reach the red zone, it usually indicate a top. What do you think? Does this make sense?

cryptoTradingAnalytics Updated 

To be clear, I love crypto and I would like that pattern does not happen but there is few bearish indications: * governments, if they don't ban, they want to regulate crypto market very soon and if it happens retailers will panic sell, tether will collapse as it is a scam. Many politics already talked about USDT. * several ETF were rejected by SEC and not looking...