Now that's something.
The market is largely bullish after the massive break-out on25th October. But TA suggests otherwise.
After what Sawcruteez suggested was a death cross between 200-EMA and 50-EMA. We now see a shooting star on it as well. The wick of the candle found resistance at the death cross and is now trading at $8620.
Stop loss at $8800,
The move on 25th October which led to the flash bullish surge is a strong bullish signal. But seems like it is the only one for now.
There are two trends beginning to take shape currently, a descending triangle and a downward-facing channel on the long term. As the bull flag continues to expand, the uncertainty in market continues to increase as well. Moreover,...
I believe this descending triangle on the 4-hour aptly explains market movements.
The markets were completely bullish after the break on the 25th. Moreover, it again rose on the following Sunday re-establishing the belief. However, the bulls have been losing strength since then, hence the formation of the descending triangle.
As you might notice, I have ignored...
The target of the Bart pattern will be around $8176. Seems like to break above $8300 was a bull trap only.
Also look at @sawcruhteez invalidation of the Wykoff accumulation, very useful.
Leaning bearish here.
Scroll back to 2015 to find the location!
The 200-Day Moving Average and 128-Day Moving average on the weekly has been taken as a reference for the analysis.
Fact: Bitcoin did not even test the 128-Day Moving Average before. Moving on, it is likely that we can expect another huge pullback to the 128-Day moving average around $6800. However, the market is...
What could led to a reversal is now forming a bearish flag. The current bullish movement in BTC is et with resistance from the descending triangle. A break above could be very bullish.
The target for the breakdown - $6600
However, the pattern seems to be facing resistance. The RSI has also moved higher pruning for further break-down!
This is a continuation of the previous idea.
Bitcoin traders have been beaten down more in 2019! Here is the proof.
The surprising rise in April was not anticipated at all, soon the market saw a short squeeze. Then the traders made some profit from the rise till $13,800 closing their long orders.
However, after that, the reversal above 30% and then 36% kept...
This is a graph of Bitcoin Longs - Bitcoin Shorts on Bitfinex.
See the zero line a well.
This year has been brutal for bitcoin traders. The short orders have been squeezed and now the long orders and at all yearly highs. The break above $12,000 was a significant psychological push to Bitcoin's price.
Now the price has broken down below the 200-Day Moving...
This is a continuation of the correlation between #tether and #Bitcoin. The RSI of BTCUSD/USDT shows how the price of over-sold currently.
Moreover, during the last period, there was a steep drop from the high.
Two scenarios can pan out here...
1. If more USDT is burnt, RSI would rise and price can fall further.
2. Price could recover with respect to USDT...
The marked areas show how tether is has acted a leading indicator from the past one year.
USDT DUMP first - followed by Bitcoin dumping
USDT Pump Followed by Bitcoin bull run
Its seems like it has stopped printing USDT for now. In 2017, this stagnation of fresh volume was met with a bearish pressure.
Stagnation can mean bearish as altcoins are not providing...
The crypto-market was building another bearish break-out level with the head and shoulders' pattern till 28th august.
Post that it built a bullish momentum as alts and Bitcoin started to gain momentum. However, currently, it is testing the break-out of that level. The RSI has also turned steeply.
Contrary to popular belief, it feels like the bearish momentum...
The circled area represents a very important point for 2019. It is when the linear rise took a parabolic view. The subsequent trendlines were all broken and now Bitcoin seems to be back in the early phases of this rise.
The green line represents the point when the parabolic support was broke on a semi-log scale.
The blue line represents the linear trend tops...
Descending triangle break-out set up! Resistances at $10,380 and $10,550. Can expect to follow the ascending line for the next few days! However, since it is at the verge of break-down tight stop losses must be placed!
After failing to form a bull flag on the 15-minute, price broke below the break-out level again. But the bears couldn't take control either. The tension in the market is tightening very strongly.
The Hanging Man on the 15-minute rejected another sell-off today. A new bull flag seems to be forming.