After Mt. Gox moved $840 million in Bitcoin to a new wallet , Bitcoin started to fall. Bitcoin has managed to break the lower line of the ascending channel . According to the theory of Elliott waves , it seems that the next corrective waves have started . I expect Bitcoin to fall at least to the Potential Reversal Zone(PRZ) . Note: An important point...
Bitcoin (BTCUSD) has started the 5th Bullish Wave of the current Bull Cycle, following the consolidation of the past 2 months. Since the November 2022 bottom we have had 4 such waves with consolidations ranging from 1 month to 6 months (blue Channel of April 10 - October 10 2023). The current wave can technically take Bitcoin up to $100k alone. What is even more...
After reaching an all-time high in March, BITSTAMP:BTCUSD started to consolidate between 61k and 71k, with a false breakdown in the final days of April. Following this false break, the price once again reached the resistance zone last week and is now consolidating again. The overall trend remains clearly bullish, and the chart structure over the last three...
Bitcoin (BTCUSD) is starting the final and most aggressive part of the current Bull Cycle: the Parabolic Rally. The latest and perhaps the strongest signal to confirm that comes from the well known liquidity combo indicators that we have developed these past few years. The Global bonds yields pool (blue trend-line) is reversing upwards again, the first time it...
Sell on the theory markets ranges 70% of the time, and sell on the theory markets retraces HALF of the previous leg 90% of the time. 4h candle cluster breakdown (yellow support line) confirms the bias.
❌ Bitcoin failed to break the 🔴 Resistance zone($65,700-$67,520) 🔴. 📈From the point of view of Classical Technical Analysis , the Failing Wedge pattern failed, and since if the reversal pattern fails , the pattern will have a continuing role , the Bitcoin fall is still expected. 🔔I expect Bitcoin to continue its downward trend after the rise to the...
🌐 Bitcoin seems to have started to increase under the influence of Ethereum ETF news ➕ Inflows into Bitcoin ETFs hit $237 million on Monday . 🏃♂️ Bitcoin is currently moving near the 🔴 Resistance zone($73,780-$71,920) 🔴 and the Resistance line . 🌊According to the Elliott wave theory , Bitcoin seems to be completing microwave 4 of the main wave 5 . 🔔I...
Bitcoin (BTCUSD) is starting the next rally phase after the pre and post-Halving 2-month consolidation, a development that is consistent with both of its previous Cycles. In fact, if traded around and above the Mayer Multiple Band (MMB) of 1 Standard Deviation (SD) above (gray trend-line), which is the exact same consolidation phase it had (blue ellipse) after...
✅ As I expected , Bitcoin reached the 🔴 Resistance zone($65,700-$67,520) 🔴. 🌊According to Elliott's wave theory , Bitcoin is completing wave 5 . 💡Also, we can see Regular Divergence(RD-) between two Consecutive Peaks . 📈Looking at the Market Cap USDT Dominance% (USDT.D%) chart , I see that USDT.D% has completed its Zigzag correction(ABC/5-3-5) in the...
Bitcoin (BTCUSD) is on yet another green 1M (monthly) candle and if it closes that way it will be the 8th in the last 9, a natural Bull Cycle rally. This is taking place around the former All Time High (ATH) level for the 3rd month in a row. A similar consolidation (blue circle) took place during each and every past Cycle and every time a very strong rally (green...
💡 Bitcoin managed to break the 🔴 Resistance zone($65,700-$64,180) 🔴, Resistance line and 50_SMA(Daily) yesterday. 💡 Bitcoin seems to be completing a pullback right now. 🌊Regarding Elliott wave theory , Bitcoin seems to have completed the main wave 3 above the resistance zone and is currently completing wave 4 . 📈In terms of Classic Technical...
During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from...
We have been expecting the Inverse Head and Shoulders (IH&S) to break-out above the Lower Highs trend-line since May 06 (see chart below) and Bitcoin (BTCUSD) dully delivered: In fact, what we will do on this idea is simply update the Bullish Megaphone of May 02 and chart it inside a more fitting Channel Up: The previous two IH&S bottom formations...
🏃♂️ Bitcoin is moving in the 🔴 Resistance zone($63,440-$62,690) 🔴 🌊According to the theory of Elliott waves , Bitcoin seems to be forming a main wave 3 (the next 5 impulsive waves). 📈In terms of Classic Technical Analysis , Bitcoin has succeeded in breaking the upper line of the Descending Broadening Wedge Pattern . 💡Looking at the chart of Market...
Bitcoin (BTCUSD) started to rise again, which is very natural as it almost completed a -25% correction (normal during Bull Cycles) and closed yesterday above the 1D MA50 after two straight rejections. The situation couldn't look better on the long-term charts as well, namely on 1W where it is at a cyclical stage (ellipse on the chart) where during past Cycles it...
⚠️First, I must say that the Consumer Price Index(CPI) rates will be published today ( so be careful about your positions when they are published ). 🏃♂️ Bitcoin is currently moving in the 🔴 Resistance zone($63,440-$62,690) 🔴 (this is the third time it has attacked this zone). 🌊According to Elliott wave theory , Bitcoin seems to be in corrective waves ....
Bitcoin (BTCUSD) just completed the final consolidation phase (red Rectangle) that as per the price action of past Cycles, is the final stage before the 1-year rally to the new Top. As you can see alt coin market (black trend-line) tends to bottom after Bitcoin's rally has already started and when it turns sideways again for a few weeks. Technically alts make...
Bitcoin (BTCUSD) broke again below the 1D MA100 (green trend-line) after the 3rd rejection on the 1D MA50 (blue trend-line) in almost 1 month (since the April 13 bearish break-out). If it stays unbroken, it is a far from ideal development as the 1-year price action has shown us that such a pattern risks making a Lower Low. The technical structure since April 08...