As you can see in the chart, Bitcoin has most likely just formed an inverted Cup and Handle pattern. This means further declines. This is not financial advice.
Bitcoin has formed a rising wedge (yellow) on the four-hour chart, and it looks like a retest of its lower edge is currently underway. But the attractions don't end there! If you look closely, you'll see that this yellow wedge is actually a re-test of an even larger wedge (green). Just zoom in to see the bigger picture! This is not financial advice.
This post is for fun rather than seriously. However, be on the lookout, I think bitcoin will fall hard in the next few days. This is not financial advice.
Although I'm not sure if this formation is valid when there is a sideways movement, I think it makes sense given my earlier bearish forecast. This is not financial advice.
As you can see in the chart, bitcoin has formed a huge bear flag on the monthly chart. Such a long pole means only one thing... new lows. This is not financial advice.
However, I thought it wouldn't hurt me if I interspersed my bearish forecasts with some bullish ones (for balance). I drew an inverted head-and-shoulders formation on the weekly chart. As you can see, bitcoin is having trouble breaking through the neckline. However, if the price jumps it (and stays above it), it will be a very strong bullish signal....
The target should be somewhere around $29100. This is not financial advice.
…but only above the white line. Today I have a rather obvious chart for you. As you can see, bitcoin has formed a downward channel. Yesterday the price touched its upper wall for the second time. There is also a white trend line on the chart, which has been respected by bitcoin for many years. Currently, bitcoin is slightly below it. Until the price jumps over...
The structure that bitcoin has formed on the daily chart can be considered in various ways. Some see a descending wedge there, others a bullish flag. To me, it looks like a descending triangle. If we check what its projected target is (yellow arrows), we can see that it coincides with the red line drawn by the fixed range indicator. This gives a rather strong...
I usually do not trust forecasts made on low time frames. They are often subject to the error of a larger pattern. In other words, they are not always what they appear to us to be. That's why I mostly make charts on 4h+ charts. However, I sometimes make exceptions to this rule. As you can see above, it seems to me that 3 intersecting patterns are forming. As for...
My wedge brings traders to the yard, And they're like, 'It's better than yours.' Damn right, it's better than yours. I can teach you, but I have to charge. My wedge brings traders to the yard, And they're like, 'It's better than yours.' Damn right, it's better than yours. I can teach you, but I have to charge. I know you want it, The thing that makes the...
Probably no one noticed it, but bitcoin has formed a diamond formation on the daily chart. This rare pattern indicates a trend reversal. This is not a falling wedge my dear bulls. And the above is not financial advice.
In the realm of shadows, where darkness thrives, Lurks the Reaper of a market's demise. A grim harvester, wielding a scythe, Feasting on fortunes, his cold, ruthless drive. He emerges when chaos spreads its wings, When Bitcoin falters, and panic sings. With icy touch, he reaps and steals, From those whose dreams his presence reveals. The Cryptic Reaper, with...
Today on the chart an unusual formation. A inverted cup within a cup. The first one (blue) has already reached its target. While the second (yellow) is slowly finishing forming. Additional confirmation seems to be the rising wedge. This is not financial advice.
I'm back with the flag! Join me and wave it hard! This is not financial advice.
Unfortunately, my darkest scenario seems to be coming true. Nano, is just beginning to close the handle in an inverted cup formation. If there is no upward bounce, we are in for a downward rally. In a nutshell: first, the price will fall to the level of about $0.5 (blue line on the fibo), then there will be a re-test of the Cup and Handle formation, ...
I don't know about you, but outlining various scenarios for the demise of Bitcoin gives me some strange joy. There is something appealing about predicting negative scenarios. It's firmly rooted in human nature. Good news is boring, anyone who has watched TV even once will tell you that. We want drama, adrenaline and blood... even if we know it's stupid. But who am...
See those blue lines? They are like walls on a track. When bitcoin hits them it abruptly changes its direction and glides along them, just like a speeding car. Interestingly, all these lines are perfectly parallel. But that's not all. The chart also shows a green and a red channel. As for me, they are the equivalent of a bull and bear market. Moreover, bitcoin...