As it's showed in the chart, The green area is the best setup to buy bitcoin in my opinion.
Also a big gap formed in Tether Dominance chart which indicates willing of the market to recover the price
The Total Market Cap correction is almost done and buyers are waiting for an...
It seems that the whole market is forming a head and shoulders pattern. If the total market cap rejects the range of $350B - $360B which is the all-time resistance, the right shoulder will be drawn and completes the pattern. Accordingly, it has the potential to see $285B as a correction to %61.8 Fibonacci before breaking out the all-time resistance at the range of...
Ethereum is forming a head and shoulders pattern following bitcoin
There is also a double bottom on the 1h chart, this double bottom drags the price to $403 - $416 which is the range of left shoulder of the pattern, In other words, it forms the right...
Double top pattern formed clearly followed by a descending RSI and Volume. Besides a bearish divergence is noticed at the tops.
Ps: The support at 10.5K is strong, So I expect it to just draw a shadow to 9750 if it's supposed to fill the gap.
Head and shoulders pattern is forming on the total market cap chart following a descending RSI and a divergence. It will do a correction to its support at $302B and immediately back to $318B as the bulls defend and the bull market will continue.
This hypothesis supports my last idea about bitcoin correction to 9600
We're at a critical point on the Bitcoin chart. It formed a symmetrical triangle pattern on the 1h chart.
Bollinger bands are squeezing and we have a descending RSI volume.
As altcoins are doing great fewer people are into pumping bitcoin right now in my opinion and this made bitcoin dominance to decrease and that also makes the bearish scenario more probable.
Bitcoin is dropping to 11300 due to a bearish crab pattern formed recently similar to the last bearish crab pattern which made a long red candle and caused a big stop hunting move. 11300 or 11270 is a good point to buy bitcoin below 11500 for a long position in my opinion.
If bitcoin closes a candle below 11100 we may see the price pull back to 10K channel through a falling wedge. This one is more probable in my opinion as it formed a head and shoulders pattern. But if not, and it breaks out the trend line it can go up to 12K channel