Although BTC looks mostly bearish we are seeing some textbook signs of painting possible inverse head and shoulders reversal that can be seen 6 hr -1 day
If this pattern manifests it would lead to 1 week or so of accumulation and uptrend after putting in the right shoulder lows on this 12 Hr momentum reset of strength.
Then to a break of $11800 which is also my...
This pair keeps falling and although had a nice rally last week it has turned into a completed bear flag with a possible drop equal to the previous move down (the pole) which would line up with my weekly analysis of a drop down to 1.35 zone as the reversal area of major support
possible 4-5% drop incoming
will be looking to enter a short position on the top of the...
After almost 2 years of down trend BTC is looking pretty bullish
on the daily chart we can see that the stoch RSI is on the floor, MACD looking ready to cross over after a 7 day flat correction from the last wave up. we have also held the 76% retracement which BTC loves to visit
We have formed a 7 day triangle in this correction and to be cautious have...
Another huge crossroads for BTC - although there is alot of selling - every huge market dump gets absorbed and rises up - we already saw a huge stop loss pop after 270 held and now are still holding rising support and within range to follow ellott theory - this has come a long way from bottom but is precisely following the rules of elliotts and market psychology....
BTC is going through a massive accumulation currently - although its still a coin toss it does look slightly bullish as bulls have defended the support area of 212 three times now - creating a "triple bottom" - note that this support line is the same line of the top of the ascending triangle that was broken out to create our run to $315
In my eyes bulls are...
Another round of bad news for bitcoin taking us off the path upwards - how it effects us remains to be seen
closed out previous longs with slight profit and waiting for a clearer trade - keeping it very simple - buy or sell on clarification of break in support or resistance
BTC needs to rally hard away from rising support to set the trend - if it flatlines and reverts to support line as in the past fractal it will show weakness and most likely lead to continual bear trend and new lows
After consistent sell pressure we are still making higher lows as we roll into this full moon cycle
If we can hold the rising support line we may have just completed a sharp wave 1 of a larger wave set to revisit key levels of the past before returning to rising support for another round setting the bullish tone
This is my 1st published chart here
I am looking at the entire life of BTC at the moment as a completed grand cycle elliott wave
each completed smaller wave set started into a new larger set which was sparked by a full moon
could it truly be moon time for BTC
not in a position right now but will be watching for any confirmation either way and buying any big dips