Looks like we have a sneaky inverse H&S pattern on the 4HR. Measured move = $10K. Happy trading! :-)
Hi all, I see a cup and handle forming on 4HR. If it plays out, I see BTC breaking major resistance since April of 2019, establishing a new uptrend! Chart and indicators look good, with a bullish cross about to play out on MACD. Of course, this is not financial advice. Just sharing my thoughts. Happy Trading!
Hi all, today I am using the CME chart as it's cleaner. I learned this from Eric Krown. The CME daily chart shows Bitcoin's break out from an ascending triangle. And as fate would have it, the measured move takes us to $10.5K, a critical level. BTC needs to break this level in order to reverse the trend from a downtrend to a uptrend. However, BTC is seeing...
Ladybugs and germs, We have a pattern within a pattern within a pattern. We are back in the upward wedge, which has formed in a declining wedge, which has formed in a symmetrical triangle. Looks like BTC, after shaking out leveraged longs with its move to $6,400, is now headed to .... drum roll... the 50 weekly moving average (in green), where I believe it gets...
BTC continues to work its way up the up trending channel that's formed since BTC bottomed in March. That being said, it's a structure that has formed in an overall downtrending channel so, I expect some more downside with BTC consolidating on or around the targets on my chart. However, that doesn't mean that BTC won't test the top of this upwards sloping channel...
Bitcoin has to be the most manipulated asset on the block. So typical that it prints an ascending triangle on the daily and then fails (on the weekend), liquidating longs. It will recover top of next week. I’ve adjusted my chart and the triangle formation (which I still think that it’s printing).
I'm seeing an ascending triangle on the daily chart. Don't like the stochastic on the 12HR but daily looks fine. Let's see if BTC plays ball :-) You never know on the weekend, but if it does, then I also think that the general markets (DJI, NDX and SPX) will push higher on Monday as well.
BTC hit my previous target and has completed a H&S patter with a downside target of approximately $9K which is also a retrace to the .618 of this impulse move to the $10.3K area. It's currently retesting the neckline but I am betting it gets rejected. BTC1! futures chart is printing almost the same, so, that corroborates what I think is a likely scenario,...
Looks like we might see a quick move to $10.3K (can we say gap-fill?) as a result of this downward sloping wedge, but I wouldn’t be surprised if stop hunts send the price to approximately $9.1K (one of the targets of the upward sloping wedge) before the move (which would be a retrace to the .618 from the impulse move higher; but if this happens, I think that it...
Looks like BTC has some more room to run given the daily RSI which isn’t oversold... yet. Once it and the stochastics are oversold, well then, “lookout” as BTC tends to sell-off pretty well when both the stochastic and RSI are oversold on the daily, and the historical volatility’s decline is suggesting a big move, very soon. That being said, I could see a drop to...
Looks like a powerful exponential golden cross is forming on the daily chart. If past behavior is any indication, then we are due for a potential parabolic run-up in price. However, I suspect a pullback into the cross before the run begins, either to the 10SMA (orange) or 21EMA (yellow) on the chart, which would be a place to accumulate or go long with leverage....
Looks like BTC might be printing an ascending triangle on the 4HR chart... target is approx. $9K. Fingers crosse ;-)
Looks like BTC is printing a bullish ascending triangle pattern on the 4HR. As it’s a continuation pattern and we’ve had a short term uptrend, the short term target is as high as $8400.
Hi all: I am a believer in long term trends. Therefore, I look at the weekly and 3-day charts. The weekly BTC chart is printing an ascending triangle. Thus, while we have a descending triangle on the daily, I believe that we will break out to the upside as the long term trend is "up", corroborated by the weekly chart. Good luck & happy trading!