honarparvar

honarparvar

let's consider the beginning and source of the current move, the lowest level of July 26th; Elliott impulse wave 12345 leads us to the recent high; the 3rd wave itself can be shown as a WXYXZ combo wave; divergence is probable (highly) in 1h time frame and if it gets confirmation, next move can be the ABC correction waves. A ends up around the supply zone and C...

honarparvar

a hidden positive divergence in 4H did what it could, and now a series of negative divergences in 1h, 4h and 1d are coming to test new lows. a bear flag is also visible. a fibo on the last 4h swing (low of 24 Jan to high of 26 Jan) can show us a 1.618 target around 29500 USD the handle of the bear flag also points to that number (roughly)

honarparvar

ofcourse in my trading system I mean! I will explain my system, strategy and in the end, possible levels for reversal. my system: Daily and weekly chart, price and Composite RSI index My strategy: simply divergence in multi timeframes I see the divergence in higher timeframe and look for its confirmation in candle break outs + lower timeframe how bitcoin...

honarparvar

just a rough idea! based on probabilities of divergence and supply/demand lines. weekly bearish regular divergence

honarparvar

scenario 1: based on elliott wave, needs a strong divergence in the dips when it once touched 43k area scenario 2: based on wykcoff model, needs a hidden divergence on peaks of price action and indicator.

honarparvar

the dominance of bitcoin is testing its critical support line for the third time, with a bearish hidden divergence in the peaks of the price action and indicator, I expect a break this time. what does it mean? 1. whole market crashes (high probability) the whole market crashes, but Bitcoin crashes harder and sharper than alt coins in this scenario, I prefer to...

honarparvar

this is a valid fork with 3 pivot points. this can show us a way up. ofcourse a probability, but higher than 50%

honarparvar

this is not a technical analysis, just a drawing but it's possible. I have used channels in monthly chart of Bitcoin with time cycles. how the cycles are considered? first ATH on the first bar, then I moved the second bar for the best result.

honarparvar

not gonna waste your time. here are my reasons: 1. weekly regular negative divergence 2. a very important support is broken and the pullback seems to be completed 3. RSI signal also broke a very important support 4. RSI below 60 + MACD crossed for bears simultaneously (after a long time) 5. the price action hasn't touched weekly EMA21 for a long time so I'll be...

honarparvar Updated 

I might have been wrong? maybe now I have two scenarios to re-enter: the blue and the red! or maybe non! but I see the blue one more probable so I wait for confirmation :)

honarparvar

there is a divergence in the 4H chart (which I admit it's not something new for Bitcoin recently!!) and IF we draw the trend line from the higher lows in the past candle (the yellow line) and IF we draw a double curve pattern for latest price actions, we can expect the price to meet the circle zone, where the trend line as a support meets the double curve and...

honarparvar

the cryptosphere around #Bitcoin is very bipolar at the moment: a very sharp bull run like S2F model fans and bears who are shouting for a significant price drop everyday. my point of view is a correction coming very soon and not so deep, followed by another bull run to set new ATH and then I can decide whether I stay bullish (less probable as for now) or become...

honarparvar

I love the Andrew's pitchfork, but I'm not a fan of trading based on indicators only. I like to watch them to combine with price action patterns mostly. if I see something which those indicators approve too, I'll get serious! this andrew fork is drawn based on three major pivots on daily chart and the response price action shows to the lines is really convincing...

honarparvar

Ichimoku has a rule of flat Senkou A and a V shape Senkou B to attract the price action to touch it! so this is the minimum correction BTC should obey. I was very glad to be able to call a deeper correction but I can't!

honarparvar

ADA Cardano will test the 0.134 level within couple of days and then it can bounce back below the fork or enter the first channel (more probable) if it enters the channel, first target would be $0.179 according to fibo ext I have drawn. in the fibo I have ignored the shadows of the next candle as I considered them noise (covid19 FUD)

honarparvar

based on fibo ext and previous price action of Bitcoin in overbought occasions. this is just a probability not a signal :-)

honarparvar

I have set my buy orders on $9200 to $9400 what do you think? the lines are drew on weekly chart.

honarparvar

the latest triangle BTC's price has entered, won't let it end the range sideways before the last week of July; I give high probability to this. what do you think?