I am not 100% sure but it is very likely that price continue upward trend at least in mid-term. The first expected price to be reached is 9800 and 10k. This is based on Elliot wave, which indicates that we are completing the second wave. Some also calls this a Flag pattern.
9350-9400 could be an acceptable price for putting stop-loss.
A good proof for taking long...
I think after the correction phase finished, we have a second upward trend. However, for opening any long position we definitely need more proof to find the best entery point. If you have any argument about this analysis, please share it with me in the comment section.
I believe this weekend could that we are in a new descending channel. If the price breaks the resistence line (around 9850), then our next goals are 10k and 10.5k.
It could be a milestone. Opening a short or long position in this situation is absolutely risky and I don't reccommend entering any position. However, short position with an acceptable tight stop-loss...
I believe the picture is pretty clear! Can Bitcoin complete its unfinished job this time?
It could be a milestone for mid-term trend of Bitcoin. Let's see.
Personally I still think that it perfectly follows the H&S that I depicted in my previous post. Therefore, still bearish scenario is valid for me.
I think we another H&S pattern is forming. In addition to Wyckoff model, it could be a great additional proof of downward trend.
Howeve, there is chance that price recover itself upto 9200. In short-term entering a long position is acceptable.
Obviously the previous signal worked out and now I stongly suggest everyone to watch 10k as the last step of ascending channel.
A huge corrction is on the way. Preferably 10k is an ideal place to open short even if the price surge to higher level for short-time.
Just a simple prediction of what may happen in next few days.
I believe we will test the higher-high at 10100 and afterwards enter a very sharp descending channel.
I think anyone who holds Bitcoin needs to watch 10k area and if this scenario is valid, sell off or open short position.
I have to say that there is a probability that price break 10.5k and continue...
In short-term we are in an ascending triangle toward 9400-9500.
In long-term perspective I am still bearish. I believe there is chance for another pump in future, but trading in this area could be risky. Some price gaps from the previous swift pump have remained which I guess need to be filled before any further increase.
This sitution probably is another proof which indicates that Bitcoin is correlated with S&P 500 and some other stock markets more than any time before. However, in a free and ideal market, which obviously is not applicable for bitcoin market currently, the price follows a logical trend, which can be predicted to some extent.
I guess people are so desperately try...
Well, Obviously the pattern I presented before worked out and now we are in its last part, down toward 6900, for now. I do not think the price goes higher than 7800 and it will be rejected (if retest there).
The best advice for this condition is to avoid high risk and try to trade with tight stop-loss until we can find another valid pattern, probably in a...
As I explained in the previous post still I think the lower low is not touched. Market is bearish during this weekend, I guess.
If the daily price closes under 6750, it could be a sign to proof later idea.
This chart is surveyed so many times. But is there a point that no one pay attention?
BTC has tried 3 times to break 7000 resistance and failed each time. On the other hand it couldn't break the support for more than 4 times.
As the days go by we are reaching the end of this triangle and everything becomes more crucial!
Fundamentally it is more probable to...