Veneficus

Veneficus

One condition which could indicate a reversal is the dmi - (red line) reaching the 40 line (purple horizontal line) on the 5 day time frame. Looking at the history of dmi, the dmi - reaching the 40 line/level has been indicative of the bottom being in. Nov 2018, March 2020, both bottoms coincided with the dmi - reaching this level. While it's not necessary, this...

Veneficus

Very simple Analysis here. When Btc closes above the bottom double bolinger band, it pumps to either the basis line (mid-line) or all the way to the upper band. The basis is currently at 28000. Simple as bb's are, it is more often accurate than not. I guess we'll find out soon enough.

Veneficus

While I'm looking for dmi - to reach certain extremes before I feel comfortable claiming reversal is imminent, this old chart implies we could have already tagged the bottom. There's the caveat of the dmi, and if there is another drop, I'd think it would be around ...maybe the 21st, give or take a day. I don't think you're supposed to try to time it cuz you end up...

Veneficus

Is Bitcoin set for a break-out to the upside and potentially a return to $20k, or are we nearing the end of Bitcoin's latest rally? The Bullish Scenario: Bitcoin consolidates around the lower 9k's for a while before retaking and sustaining above 10k. Price pushing above $10,500 results in a lot of buying pressure causing price to surge by thousands. While...

Veneficus

After rallying over the past week with implications of a reversal, bitcoin is still encountering a lot of bearish sentiment. Presently, bitcoin is up against resistance from the 200 ema on the 8-hour time frame. This would not be the first time Bitcoin has broken through resistance in this rally, however there are many areas of resistance in the mid-7k range. Is...

Veneficus Updated 

The weekly stochastic is turning up after coming into contact with a trend line from Oct 2018. There is also bullish divergence present. Is this a real reversal or just a bump on the way down?

Veneficus

Bitcoin just got a boost from the 3-day tf crossing up. Right now it's pushing against resistance at the 200 ma on the 6-hour tf.

Veneficus

On the 4-hour time frame, bitcoin is getting squeezed between the 21 day ema and the 200 ma. On the hourly time frame, a pattern which looks to be a symmetrical triangle has formed. If bitcoin could break through the four-hour 200 ma, that would set up a potential golden-cross. On the larger time frames, bitcoin is in an ascending channel, ranging for now. More...

Veneficus Updated 

Looking at trend lines on 12-hour stochs, it appears there is at least a possibility of a reversal coming soon. Not only are 12-hour stochs beginning to turn, the MACD indicator is in a very weak (low volume) downward trend. Although it has only been a few ticks since the sell signal was given, a reversal could soon be in the cards if bitcoin can hold above 6050.

Veneficus

After bitcoin rallied on the 3-hour, is a bullish cross imminent?

Veneficus Updated 

Bitcoin fell from bullish trend line support, to bearish trend line support. With 12-hour stochs falling and daily stochs losing momentum, this likely indicates that price is headed downward.

Veneficus

According to the yearly progress of bitcoin, trend line analysis suggests price could have already reached 2020's highs. Trend lines also indicate that price is near the bottom, but there appears to be room for a slightly lower low, at around 3500-3550.

Veneficus Updated 

Bitcoin's price could reach $7850 to 8k if the measured move of an ascending triangle breakout pattern plays out. This would also complete an inverted "bart" pattern. Aggressively, this could lead to the formation of a head and shoulders pattern which would point to 10k.