Last time, I expected two scenarios and..
Bitcoin is now fighting with heavy resistance level.
But I think this level has high risk.
1. Really heavy resistance level
If Bitcoin want to go up more to 10000 level, I think Green Big upward candle is needed like 12, april.
Actually, it is...
At this point, I think 2 scenarios for Bitcoin.
1. Yellow line
Two types of stochastic are now going down.
It can be go up once again but there is a signal for divergence.
If Bitcoin goes down, yellow circle area could be support level because of Red and Purple MA line.
2. Blue Line
Stochastic can go up once again.
In this case, there is a strong resistance...
I analyzed Bitcoin based on Harmonic pattern usually.
However, it seems like totally reverse arrangement of MA, 20, 60, 120, 240.
MA arrangement of last year is opposite.
In this case, those MA line could be resistance level so that it is really difficult to make super bounce.
I think touching 20 and 60 MA line is the first step to go further level.
In aspect of...
It is not original Bat or Gartley pattern, but I can predict a little rise based on Stochastic.
However, there are many resistance line, 60/120/240 MA.
At this time, Bitcoin is in 60 MA line.
If Bitcoin get more buying trend, we can expect Bitcoin will be in the rectangle area.
The harmonic pattern could be Bat or Gartley.
In aspects of long term, Bitcoin needs...
BITFINEX:BTCUSD is slight going down now.
As you can see, if BITFINEX:BTCUSD is supported at 8000, we can expect Gartley or Bat Pattern.
The bounce from 7200 is not enough to penetrate 20 MA line.
For going through this strong 20 MA line (Blue), BITFINEX:BTCUSD needs a more powerful energy.
If this prediction becomes true, we can expect BITFINEX:BTCUSD will go up...
In these days, I analyze BITFINEX:BTCUSD in aspect of Harmonic Pattern.
However, I think the most important signal is Moving Average.
In the left side, it is today's BITFINEX:BTCUSD chart.
As you can see, MA arrangement is not good.
A year ago, the right side chart, BITFINEX:BTCUSD's MA arrangement is really good.
20 MA > 60 MA > 120 MA > 240 MA
I thought the worst scenario about Bitcoin.
However, it is too early to scare. I am pretty sure Bitcoin will not.
I just think it is the time to trade alt coins if Bitcoin sidle along.
In this time, I want to share the idead of BITFINEX:BCHUSD.
Actually, most alt coins are...
Today, BITFINEX:BTCUSD could not beat the red resistance line which is Inverse H&S neckline.
If BITFINEX:BTCUSD could not be supported at the two green support line, we should consider the most serious scenario.
This idea shows the ideal bat pattern.
I hope this analysis would be wrong but we should consider various strategies for some scenarios.