We have $ETH/BTC weekly chart here.
Previously it formed a 'head and shoulder' pattern and after breaking down of the neckline, it dumped hard.
In the middle of going down, It made a pullback and now it should decide whether it will fail the h&s pattern or continue heading downward.
Since the beginning, it was only 2 times that $BTC was in RSI oversold zone in weekly timeframe.
both times it was the bottom for #Bitcoin price and rose significantly in months ahead.
Now it's the third time it is oversold in 1W TF.
Let's see if this time is the bottom again and we can expect #Bitcoin price to move upward in month ahead.
Not Financial Advice
* We have RSI Bullish Divergence on daily
* Potential Golden Cross on 1D timeframe in coming days (if ma50 cross above ma200)
What does this analysis mean?
It means $DOGE can outperform $BTC in value from this point.
Just an #idea
Not financial advice
* A Break-out from a huge Bullish Falling wedge is about to happen
* A smaller Falling wedge has already been broken out
* Massive MA100 break-out on daily TF
* RSI Bullish Divergence did its job
If it does a break-out in the white circle area , then 🚀
Just an #idea
Previously I draw a parallel channel and predicted that we may be in the bottom.
Here is my $BTC #analysis update:
At 52k we have static resistance. Parallel channel midline resistance is at 53k.
$BTC may have a retracement from somewhere between 52k~56k.
Daily TF MA100 support is somewhere between 42k~44k.
I still believe that #Bitcoin will hit a new ATH in JUNE...
Analyzing weekly TF, $BTC has created an accurate parallel channel.
Previous week a bullish hammer candlestick formed and is now following by a strong green candle that is gonna be closed in 2 days.
Interesting point is that after highest closed on 14th April 2021, it took 7 months for a higher high that got closed on 11th Nov 2021 at $69k. and it is the exact...
#BAND has been broken out from a falling wedge recently and is now ready to move higher.
We have also a nice cup and handle formation in larger picture.
Target can be as drawn on the chart.
MA100 on Daily (Or MA200 on 12H) strongly held the price from lower levels multiple times.
For now, we can count on it around $41000.
If broken down, we may see 37k area. then there are two possible scenarios shown on the chart.
* If selling pressure happens by the bears and price drops, bulls will defend on 35k area at major trendline support that also can be...