Bitcoin price is currently moving back down toward the lower end of the trading range. If price holds above the $9.8k level and moves up from here then a triple bottom chart pattern seems to be playing out. To confirm the triple bottom, price will have to move up and break the top end resistance of the range. In terms of price target after breaking resistance, if...
Outlook on Bitcoin is just neutral until it breaks one of the blue horizontal support or resistance lines. Everyone screaming that it is suddenly bearish also adds to the argument that we are now at the lower end of the trading range and are going to move back up soon. When the herd yells bearish, think the opposite.
Bitcoin has been correcting from its yearly high, and price has been printing a falling wedge. Falling wedges are bullish patterns in both continuation formations and reversal formations. If we don’t see a breakdown in price over the next few days I am expecting a break upwards out of the wedge to continue the uptrend.
Bitcoin is nearing the end of the triangle it has been printing. This triangle looks like a smaller version of the triangle that it printed a week or so ago which led to a nice rally on June 12th - so if history can tell us anything, we should be expecting a nice upwards break toward the $10k level pretty soon!
Bitcoin's local correction seems to be coming to an end, as support was found around the $9,000 area for the most recent move down. Price might move back down toward the bottom support line as depicted with the blue arrows, but overall I am expecting some strength to show up soon. Next resistance is the $10,000 level. I have been seeing everywhere that FOMO will...
Bitcoin’s 4 hour chart is printing a rising wedge. The rising wedge is is a bearish chart pattern. RSI is also nearing overbought. I am expecting a drop out of the wedge if price does not shoot up soon and invalidate the wedge.
Bitcoin has been consolidating over the past few weeks and is now getting close to the end of the triangle that has been forming. Decision time should be over the next couple of days. With a break upwards we should be seeing a move past the $9100 area up to $10,000 resistance, and with a break downwards we should be testing support around the $6850 area.
Bitcoin has been using this yellow curve as support since the $3k bottom in December of 2018. Will it continue to hold and provide the support for a push into the $10k area? I think so. It seems to be bouncing off of the curve at the moment.
As we have seen in the past, parabolic runs can't just go on forever. A correction from here (or from the $8500-8700 area) down to test support lines would make me feel more comfortable, and would provide a good buying opportunity. Also, successfully testing support would add to the bullish structure of the market and show all the disbelievers that a bull run has...
Bitcoin has followed the yellow support curve perfectly. Searching to add to my position upon test of the yellow curve. Bitcoin has had a parabolic rally and is now correcting. I will buy when price tests the curve around $6500, and will continue to add if price moves down toward $5700.
But price might not even fall that low - it may just continue going up.
BTC no go down no more, BTC only go up now - or at least it seems that way. Bearish Divergence? BTC no care. Oversold? BTC no care. Resistance? BTC no care. BTC go up. Challenging horizontal resistance around the $6130 zone currently. After a break above resistance, targeting moon.
Short term (4-hour chart) searching for an upwards breakout of ascending triangle to bring us up past the resistance zone around $5970, and hopefully all the way up to challenge the resistance zone around $6130.
Bitcoin broke out of the bull flag it has been printing and moved up toward $5970. Now we are seeing a retest of the top of the flag, and price should continue upwards in the following hours/days. Final target for this flag lies just above the resistance zone around the blue line at $6129. A break of this resistance zone should be confirmation of the new bull market.