orange curve = resistance
white horizontals = supports
orange curve may have to be adjusted, depending on future price, will keep you updated.
Way I see it is that it will bounce off orange curve and go lower, but stop going down at some point.
Think if u go long here u could make a small profit if it goes back to the orange curve (about +7% up from here).
Very many supports down there at 30k and below. There aren't any candle bodies under 30k, only wicks because those dips get eaten up fast. So up is more likely imo.
Also this pattern with the orange curve has now been for over a month, so it's not...
price has been following blue curve for over few months now, I was waiting for high of June to get a point to make the curve more accurate.
Seems like that was the one.
What I am expecting at this point is for the price to follow the blue curve, which could possibly end up with the price being at 30-32k this month.
Also there is a death cross upcoming (MA50...
Many charts miss this part. You can see the blue and orange curve have played a huge part in BTC TA in the last months.
They're about to meet in the next few days and we all know what that means... probably a breakout.
Price has to find a new trend over the next months.
Even if the price doesn't go below the orange curve and "breaks out upwards" there's still the...
It seems that the increase of short positions have stopped. When the short positions were opened on may 17, a day later bitcoin dropped from 43k to 30k. This time, there are even more shorts, and the increase is even steeper.
I wouldn't be surprised if Bitcoin will go down by a lot about a day after I publish this, same as on may 17. Personally, I also wouldn't...
The upper orange curve has been used as support for serveral months and acted as a resistance after the first drop to 30k in may.
Recently it broke it and went a bit above, but came crashing down again. What formed through this process, is what you see here:
The orange triangle.
In my opinion, the price will stay in this triangle for a few days. After that, one...
Resistance exactly at white line. This could be a bulltrap... Moving averages are moving together indicating that the buy cycle is probably over and it could dip soon below blue curve again...
However if it manages to break white resistance we could see price go to 42-43k... but probably it will bounce off there and go lower again.
I've published an idea with this pattern already before.... BUT what's even more confirming this to be true:
-the current drop also following the pattern
-the red lines which are extensions of the past prices that you see at the bottom of the chart match EXACTLY with the pattern.
-the price at the end even matches with the resistance (where it hits the blue line...
start of downward trend as can see by moving averages.
my goal is near 30k, if drops below then 25-26k.
I have seen this channel on other cryptos as well as well as the bounce off the upper resistance of the channel seems reliable, that's why I think it is correct.
you can see bitcoin went out of the channel which caused the huge drop down to the support line where it bounced off. now price is clinging onto the channel but it's not strong enough to get back into it, and imo won't happen. bitcoin will probably stay within the 30-40k range until approx. june 14th, where you see the channel ends.
There might be a huge surge then.
You can see the triangle in the chart.
It was supposed to stay within it, but it decided to go under it.
I think it will be hard for doge to gain traction again to rise.
IMO it will go down noticeably from here.
My take is $0.048/0.04€ as there was a support earlier.
I think that by 23rd or 24th doge will rocket upwards (obviously rocket is is relative)
you can see the support and resistance in the picture which it will bounce back and forth in until 23rd-24th imo.
As you can see there is a strong support going on in the chart.
My prediction is that the support will cause the price to follow within the triangle and then near the end have a breakout to the upper red rectangle.