CryptoBullet

CryptoBullet

Bitcoin continues to trend down and now things start looking pretty ugly. We've now spent more time under the 200-Day MA than we did in Sept.-Oct., which means that this time the market is actually weaker. We can have bounces while staying inside the downward channel, but until we break out, do not get overexcited. The really bad news is that the 200-Day MA...

CryptoBullet

BTC paints a picture we have already seen. The bottom of the bear market came in at ~3.2k almost one year ago, but after that ultimate low we consolidated and formed Adam & Eve Pattern, which we broke out of in April and reached its target. Pay attention to that wick to the upside marked with a red arrow The second Adam & Eve Pattern occurred this summer....

CryptoBullet

The altseason has a lot to do with ETH behavior, which means we need to see ETH pumping again. That can take BTC dominance down (since ETH has the largest marketcap among alts), which will confirm the altseason. Let's take a look at ETH time cycles: Each cycle has 357 days ~ one full year. We see that each cycle starts with a low, then ETH pumps in the first...

CryptoBullet Updated 

Many people compare the current Descending Triangle with one we had in 2018. The difference is that the 6k to 3k drop was in a downtrend - we are still in an uptrend. Different environment. Let’s take a look at another Descending Triangle, which happened in Summer of 2017 at the peak of a bull run. We are definitely seeing some similarities with the current one....

CryptoBullet

BTC was sitting on a very critical level of support, which included the 50-Week EMA, Ascending Trendline, Strong Horizontal Level, 0.618 Fib and High Volume Node on VPVR. A couple of days ago this tremendous support got broken , however we need to wait for the weekly close. Check out our idea called “BTC is sitting on a very critical support!” where we...

CryptoBullet Updated 

On the weekly chart we see that the BTC price is stuck between the 50-Week EMA (support) and 30-Week MA (resistance). The 30-Week MA was important in 2018, because it supported the price in February and perfectly rejected the price in Spring & Summer. The 30-Week MA is almost the same as 200 MA on the daily (currently at 8740), so if we are able to reclaim it,...

CryptoBullet Updated 

Looking at this chart you could admit that there are two structures that are very similar. Let's look at the first one: Downward Channel 1. We broke out of this channel in a violent manner within two daily candles and got stuck in a range around 0.618 Fib, forming a Bull Flag. Notice that we had a wick out of the flag. Eventually the Flag broke out and reached...

CryptoBullet

Inverted BTC chart looks very similar to the BTC chart of November-April: We have the same Ascending Triangle and the first breakout occurred on September 24, which is the equivalent of April breakout. Right now we are consolidating above 200-Day EMA, which looks like a Bull Flag. We’ve tried to break the major resistance at 7800-7900 on the inverted one for...

CryptoBullet Updated 

Bitcoin is consolidating and seems like we saw something similar back in June of this year. However, it will be tough to play this one out, because we are below the 200-Day MA. 200-Day MA is key for the bullish case. Until we reclaim it, things are looking bearish from the TA perspective. Note that NEVER in a Bull market we spent so much time below the 200-Day...

CryptoBullet

For those who are not familiar with on-chain stuff: What is on-chain analysis? On-chain analysis is the study of network metrics surrounding the blockchain and the capital flows moving on it. This is completely new analysis. Never before in finance we had such an asset with completely different volume analysis, because every coin is tracked and along with...

CryptoBullet

It’s hard to deny that BTC is in a bearish descending triangle and there is not much to say until the triangle is broken, but in my opinion, Bitcoin is in a bullish re-accumulation . Typically, the breakout from a descending triangle is triggered to the downside, but not all descending triangles breakout to the downside . You can also see an upside breakout. In...

CryptoBullet Updated 

The weekly chart is coming to an end and it is going to be the lowest weekly close since March of 2017 and that is incredibly bearish . We are breaking down the Multi Year Support. That range 0.024-0.026 has been a very impressive support since Dec. 2017. If nothing extraordinary happens, the next action will be very painful for ETH holders. If you...

CryptoBullet

It looks like we are creating a massive Descending Triangle, which is a bearish formation. But the fact that too many people are expecting the dip creates a bit of an issue. Statistically speaking, the likelihood of breaking out to the upside is smaller than to the downside. But here is the thing: we are at the very top of the trend and that's tricky. So, will...

CryptoBullet

There is not much room to continue sideways action since we are approaching the apex of this symmetrical triangle. The breakdown is more likely (would give it a 70% chance) . On the way down we can meet support at ~9600 since we have the EMA 200 coming there + horizontal support + ascending trendline. Don't think it could hold the price. The conservative...

CryptoBullet

Last week managed to close at ~11500 somehow, which gave us the highest weekly close since the week of 22 January 2018. If we had closed below 11.3k, it would’ve been a very clean bearish candle – shooting star. Key level to break is 12.1k. Breaking above it would be extremely bullish. On the daily the price is still in a huge Bull Flag. As long as we...

CryptoBullet

Here is something interesting on the monthly chart Each Bull cycle the Bitcoin price was supported by an ascending trendline. The trendlines 1, 2 and 3 are the trendlines that supported the market Look at how we broke exponential off the trendline every time, went back to it and broke down. The prior two times we could not get above the trendline that...

CryptoBullet

Bitcoin moves in a beautiful descending channel. Look at how relevant is the middle line of the channel. Especially on lower timeframes If we reach the top of the channel, that's going to be very interesting. If we don't get rejected there ... Actually this is looking like a giant Bullish Flag with a minimal target of 15k! Right now we have a doji ...

CryptoBullet

This chart seems hopeless and many people have already lost faith in this coin. This is some kind of a buy signal. There are concerns that this coin is on its way to zero and and on the verge of getting delisted. Well, this project doesn't seem to be an outright scam. The team is developing it and we hear good news on this one. Recently Pundi X (NPXS) integrated...