Two bullish patterns have been forming - Bat pattern and Falling Wedge pattern.
How to trade when these patterns are forming ?
The Harmonic Bat is a variation to the Gartley pattern which was developed by Scott Carney. It is considered to be one of the more accurate patterns exhibiting...
Fib Retracement levels.
Currently strong resistance at .382 level on 4-hours chart.
What is a 'Fibonacci Retracement'
A Fibonacci retracement is a term used in technical analysis that refers to areas of support (price stops going lower) or resistance (price stops going higher). Fibonacci retracement levels use horizontal...
Bullish engulfing pattern forming on daily chart.
What is a 'Bullish Engulfing Pattern'
A bullish engulfing pattern is a chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely eclipses or "engulfs" the previous day's candlestick. The shadows or tails of the small...
Bullish flag formation (on 15-minute-chart) signalling a move higher.
"Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The...
Important overvations on 4 hour chart:
* Bullish bat pattern has formed;
* MACD histogram line turning up;
* Fib retrace for the last leg CD shows at about 9.6k;
* Volume start picking up.
On 15- minutes chart:
* Price already establish up trend;
* Impressive higher lows on MACD Histogram...
The graph on 1-hour time frame shows divergence between MACD Historgarm and BTC price, which is a strong leading indicator signal for bouncing back.
It is even stronger when the signal shows on 4-hour time frame.
Shall Bitcoin go up or go down?
Here are the facts on 4-hours-time frame:
• Bitcoin is approaching the bearish trend line and 12k resistance level;
• On Wavetrend Oscilator, Bitcoin is at overbought area and approaching extreme over bought level of 80;
Also On Bitfinex, 10,500 shorts versus 27200 longs – about 1:2.7 ratio;