On May 7th, SEC and CTFC will have a meeting to discuss if ETH is a security.
Historically, crypto markets reacts negatively to regulations so IF ETH is indeed deemed a security it must be regulated.
That means a possible BTC dump can ensue, forming what looks like descending triangle as indicated in the chart.
There is a lot of arguments as to why ETH...
Short term, Bitcoin seems to be stuck in a slow downtrend. It broke out of an initial falling wedge (yellow area) and currently forming a smaller falling wedge (sky blue lines) after the break out.
These falling wedges if fully realized may have a potential retest 9.3k or even 10.5k.
Seems like a good buy soon if you are bullish and you think 7.5-8k...
So far there have been 2 halving events in the history of bitcoin. By nature, halving decreases the future supply of Bitcoin and thus fuels an increase in price, if demand remains or increases.
Looking at the previous halving event back in 2012, it fueled the 1st bitcoin bubble. Back then the price increased by about 100 times (10 USD - 1k USD).
Now, after the...
BTC/USD weekly candle closes green, forming a morning star candlestick pattern.
Looking at the past, a weekly bullish engulfing candle followed by a morning star lead to massive rise in price (see green arrows and yellow circles). We may see a similar pattern from here on out.
Also, the volume profile of both morning stars gives further evidence to the...
In the history of BTC, 11,000% (2.2-250 USD) is the most gains it had before a long term bear market. At 17,000-18,000 USD, we equal those gains.
Exceeding that means that we are now in the biggest bubble in the history of BTC.
Currently we are at 15k, 2k away (10-20%) away from that milestone.
Think about that for a second.
Not calling the top, but if you...
10k is a huge milestone for BTC thus making it a strong psychological resistance.
I'm seeing another possible breakout around 10-11k, but it is highly likely that the price will correct sharply from there (possibly down to 6-7k). The scenario could be similar to the sharp correction from 7800 to 5500 (see circles, boxes & arrows). At the very least a sideways...
With a strong daily close (bullish engulfing and successful Kijun bounce), BTC might reach another all time high.
Reasoning for this:
-Previous successful daily Kijun bounce lead to another all time high (see green arrows).
-Pattern looks similar to previous price movement (see boxes and circles).
Targets may vary but somewhere near 10k is good place to take...
BTC Broke through daily diagonal resistance, 1st fib target (1.618), and 6k psychological resistance.
Expected a deeper correction to 5k but it seems the CME-BTC futures announcement negated that possibility. Took profits too early at 6k, haha.
Next target could be around 7k since its a possible psychological resistance, and previous rally from 3k to 5k has the...
Current structure shows similarity to the previous top at 5k:
-Both show bearish divergence in the daily charts.
-Both proceeded to reach further highs from a bullish hammer.
Similar to the previous correction downwards to 5k, a break of the bullish trendline here would give further confirmation that a possible correction to retest the previous all time high (5k)...
A lot earlier than I expected but BTC broke out after 2 consecutive daily close above 4700 as projected.
Dips near previous all time high (4950-5100) is a good buy here I think. However, 5k+ range break out volume is still lower than 4700+ breakout, so far above 4hr average. Eventually it may surpass it. To be safe, I think its best to wait for daily close above...
BTC stayed above 4700 for less than 2 days the last time.
Now, if BTC manage to close daily above 4700 for 2 consecutive days, then there is a lot more buying interest this time.
By then BTC may have found some decent support at 4700 and I think we will eventually break out of 5000 from there.
But so far the burden of proof lies with bulls, 4700 up is proven to...
Previous Head and Shoulders morphed into a confirmed falling wedge. Did not reach my previous target of 3950-4100. Manage to buy back some of my position on 4250-4300.
Then it went to break previous shoulder resistance invalidating the possible H&S.
If 4250-4350 area holds we might be looking at a break out. If not a possible double top going down to 4k or...
4450-4500 seems to be a strong resistance. Did not manage to reach 4700 as I previously thought.
BTC may need to correct before it can break that 4500 top. Not confident to short here, but looking at 3950-4100 for a long re-entry.