tommyf1001

tommyf1001 Updated 

Bearish Cypher Pattern on Bitcoin with Targets Hey guys, I have a new update on Bitcoin so let's get to it. In my last idea, I discussed the importance of the rising black resistance line and the falling purple support line as potential areas for reversal. Bitcoin tested this line with about 5 candle wicks, but our first sign of reversal was that first drop on...

tommyf1001 Updated 

Hi friends! Thanks for taking the time to read my analysis, I hope you find this useful to help guide you in your long-term strategy for Bitcoin! Let’s get to it! On the chart you see 2 bold black trend lines that represent support and resistance for this descending broadening wedge pattern that has started Dec. 17th and continues through today. While this...

tommyf1001 Updated 

Hello everyone! Thanks for taking the time to read my analysis. What a crazy time it has been for bitcoin over the past few days. Just as soon as I gave up on my double top reversal formation this morning, the prices plummeted to bring us well below the 9.3k neckline support once again. Last night I noticed a huge hidden bearish divergence on the RSI which pushed...

tommyf1001 Updated 

Hi all! I wanted to post another quick update on my idea that I have been sharing with you for the past week. It looks like the double top reversal formation is still in play as the 9.3k-9.5k neckline region was re-tested and BTC failed to break through it. Most double top reversal formations undergo a re-test of the neckline and that is what appears to be...

tommyf1001 Updated 

Well folks it looks like the double top is now confirmed. We have broken the neckline and we are now far greater than 3% under the neckline price. I have re-calculated my price target using the price difference between the top of both peaks and the support neckline, then subtracting that price value from the neckline value. However, I am giving a price range to...

tommyf1001 Updated 

Hello friends, thank you for taking the time to read my analysis on Bitcoin. If at any point you like what I am putting out here, I would appreciate any support! Okay, let’s get to it! My analysis yesterday showed an ascending triangle that was clearly broken before it even had a chance for liftoff. If you read my update, I posted a chart right before this drop...

tommyf1001 Updated 

Hi everyone, Thanks for taking the time to read my analysis, let’s get into it. First I want to acknowledge my last analysis on bitcoin did not follow my prediction, as the price of BTC was able to successfully surge past both upper resistance trend lines and continued to move higher. It was the failure to break through this line that would have led to a further...

tommyf1001 Updated 

Hey guys! This is my first ever chart published on TradingView, so please go easy on me! And if you like my analysis any support would be greatly appreciated! =) So looking at the charts we can see the price has once again failed to break through the upper resistance trend line. This line was formed from around $17,100 to ~$11,700 and finally our last failure...