shatzakis

shatzakis

Given all the focus on BTCUSD recently with the launch of Bitcoin ETFs and the upcoming halving this year, it was refreshing to look at the longer-term views from a monthly candle chart on a logarithmic price scale, showing the trajectory towards SWB:69K as the next significant resistance near prior all-time highs:

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Looking at a longer term daily chart log scale, the price of bitcoin seems well within reach to hit a trajectory of up to $100k in 2021, provide it holds its current support lines and overcomes the resistance lines shown in the chart attached. Of course if bears come back lows could reach 7k but I doubt that will happen even with draconian regulatory changes, the...

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Bitcoin looks poised to complete an Ascending Triangle formation which is nearing completion with a potential breakout to either the upside (bullish) of the triangle or the bottom ascending support line (which would be bearish):

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The yellow triangle drawn on the following chart shows the price of BTC/USD near the completion of an ascending triangle pattern in the immediate-term. The chart overall shows the recovery bitcoin has made since the March 13, 2020 low, overlayed with a rainbow indicator showing moving average lines crossing-over on April 28th, before the start of this ascending...

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The upper descending resistance line of a multi-year bearish channel is being tested again today and coinciding at today's high near $9399, as the price of BTCUSD is trying to push above the key resistance level. A failure to break above this line in the coming weeks will be bearish, but as noted in my last post, there are multiple longer-term ascending support...

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A break above the upper resistance line of the bearish channel (see yellow arrow in chart) will be very bullish (near April 30th, 2020 high), even if that line may turn into a descending support line, but can at least give short term bulls big momentum. There is a confluence of recent intersecting bullish support lines which I interpret as the immediate-term...

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After its 6th straight day of gains, BTC/USD has regained a longer-term support line (see the magenta/purple line in the attached chart). Despite being in a medium-term down channel, the recent recovery from this year's low, coupled with the medium-term support line which was just reclaimed, could give more hopes to bulls for $8000 to be the next target and with...

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The following chart has multiple color-coded trends that are parallel in nature, showing how the GBP/USD has moved through these approximate pathways since mid-2018 until now. Given the most recent price action, a test of the upper yellow bearish line could provide resistance for a dive back down to the dotted teal line near new lows. Either way, the short to...

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The GBP/USD recently broke below a very-very-long-term support line, as seen in the chart here where the dark green line drawn from the 1985 low to the lows of 2016 as well as last year, was finally invalidated during the COVID-19-related forex market volatility in Q1 2020, near 1.1400. Given that the GBP/USD is still caught in a more medium-term and shorter-term...

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Over a longer time-horizon, the recent volatility of the last few months looks like a small compared to the range of prices that the EUR/USD has traded between over the last 18 years. The thick dark-green support line seen in this chart shows that the EUR/USD is testing this level, and given the all the downward pressure in recent months, a break below this very...

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$ETHUSD is ascending a steep short term support line after bouncing on a less steep medium-term line (see green line in chart), yet remains in an overall longer-term downtrend which it may try to break out of as several medium and longer-term converging trend lines are approaching in the coming weeks ahead.

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Looking at the channel in the chart below, depicted by the main two white lines, and the one dotted-line as the median line of the channel, we can see that bitcoin's pullback is nearing the lower support line which, given the current trajectory could intersect around the $3000 mark or $2800 depending on how fast it is reached - if tested. That line could be the...

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Given the recent swift price action in Bitcoin markets, this long term daily candle stick chart is a good reminder of the longer term trends in place for BTC/USD. The bear market could last through February 2019 and longer-term support lines intersect near $3500 and just below $4000 which is now in close proximity (today's low near $4670) although before testing...

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Bitcoin has pulled back to test a longer-term lower support line (see bright green line on chart). If this support line holds a bounce should follow, whereas a break below this line could trigger additional orders and volumes.

shatzakis Updated 

Bitcoin's recent bullish price action is testing multiple converging resistance lines, of which if broken, further upside may be in store, including the 400-day moving average near $8300 in the near term.

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Following the August 14th low, and prior attempt to break above the 400-day moving average at the end of July near $8500, bitcoin remains in a downtrend and still faces upside resistance. I've plotted two trajectories, and support seems to have been established on a line parallel to the median line (see white-dotted line) of the longer term bullish channel (see...

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BITFINEX:BTCUSD Bitcoin has encountered strong resistance trying to break above the 400-day moving average (See Green histogram in chart) and just moving to the downside below $8000, as well as finding resistance on the median line of a longer-term bullish channel (see white dotted-line in chart). If the 400-day moving average isn't regain the previously bearish...

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Bitcoin just tested the upper resistance (solid red) line in a down channel for the fourth time since its all-time high, indicating that an imminent breakout to the upside of this line would be a bullish signal whereas a reversal from here could followup if the breakout fails in the immediate term.