currently bitcoin is going though a short term 3 wave correction which is a 3-3-5 i believe. it is still moving within the range and will probably drop below 9000 to complete the c correction wave to complete the 3-3-5 pattern before we see a continuation of the upward movement
normally i would expect volume to follow price action. as supply and demand dictates price. but right now i’m a but worried as the volume keeps descending while price is nailed below the 8400 resistance.
A few days ago I posted about a correction possibly going back to the 4200-5800 level.
now that it is happening, the question is when will it stop?, well nobody knows for sure but if i have to guess i would lookback to the rally that btc had and failed at these levels which is june 2018.
my safest bet would be at 3levels of support mainly around 6600, 6300, and...
whenever i’m unsure with the market i always convert to doge. doge has been stable with support at around 0.00311usd. market right now can go both ways doge will only go as far as 0.00311usd or higher. regardless of dumps or pumps
1Hr chart has formed a head and shoulder pattern and is on a downward momentum.
although it's just the 1hour chart this could lead to a drop to 7600 which acted as a tiny resistance or could break down further.
the same can be said with the 4hrs chart. as of this moment BTC is forming the head of the H&s in the 4hrs chart
for the past two weeks or so I have been looking for a correction from btc.
I wasn't updated with the news since i was busy. around May 4 i was doing a simple TA that was telling me that prices should correct a bit and before it hits 5700 to 5800. but Bitcoin was doing something unpredictable again punching through all resistance level with massive...
I've overlooked Etherium for a while. but checking on it now Eth is forming a nice line of upward support on the ETHBTC chart. if it continues to follow this line of support we might see a break out on the triangle in a few weeks which might start a new bull run.
key indicator suggest that bitcoin will have a correction.
notes on LT Delta on daily chart about to cross over. also a momentum shifting has been happening.
possible correction back to .618 level at around 4782