stanosky

stanosky

I have drawn two megaphones on the chart: orange, right-angled broadening (bearish), blue, symmetrical (bullish). It seems that the blue one is more likely to succeed. However, I would be careful here and wait for price action to confirm one or the other. Bitcoin's price is seriously overheated in my opinion. This is not financial advice.

stanosky

Three patterns are forming on the chart: megaphone (bullish), rising widening wedge (bearish), head and shoulders (bearish). The last two are smaller than the megaphone hence I conclude that they have less significance, but they indicate a temporary change in the trend to bearish. Megaphone, on the other hand, is a bullish pattern and indicates a...

stanosky

There comes a time in a bear's life that he has to leave the forest and get on a rocket to the moon.... And now for the serious, bitcoin seems to be forming a bullish megaphone formation on the monthly chart. It's huge! If I'm right, somewhere from the second half of 2024 we're in for a crazy rally to the $200,000 area. Of course, don't get euphoric. I...

stanosky

As you can see in the chart, the price of bitcoin probably wants to form a bullish megaphone formation. This looks like a very likely scenario, however, looking at the RSI indicator, it no longer looks so optimistic, hence I think the price may bounce off the upper edge of the megaphone or the channel I also drew. This is not financial advice.

stanosky Updated 

Either we are dealing with an ascending triangle (bullish formation), or we may witness a retest of the rising wedge (bearish formation). I am a man of honor. If the price of bitcoin stays above the green line for the next month, I will congratulate every bull, especially @jdo85 as I once promised him. I myself will probably change my bias to bullish. Otherwise,...

stanosky Updated 

I'm a bear, but looking at the chart, I get the impression that bitcoin is printing a large diamond pattern on the daily timeframe. Given today's price action, we may think that bitcoin will continue to fall, but who knows, maybe the last upward move is lurking in the woods? This is not financial advice. More like bad sci-fi.

stanosky

Like a damaged ship, it floats with the remnants of its strength. There is nothing to pour out the water with a bucket, a powerful pump is needed here! Save yourself who can ... There is still a long way to the bottom. This is not financial advice.

stanosky Updated 

Bitcoin has formed a symmetrical triangle. Perhaps it is even a bearish pennant looking at the bar. In addition, triangles usually indicate a continuation of the trend and the diamond pattern under the lower edge also suggests this. This is not financial advice.

stanosky

It appears that bitcoin has formed an inverted cup and handle pattern. If I am correct we should see a downward movement as shown in the chart. This is not financial advice.

stanosky Updated 

Overall, I am bearish on bitcoin in the long term, but I think we will soon see a quick upward bounce. The diamond formation in the four-hour time frame seems to confirm my position. Moreover, the rebound will most likely be a natural re-test of the lower edge of the weekly upward wedge (you can see it on my previous analyses). I believe we will see a real crash...

stanosky

Forget my previous analysis, ha ha. It looks like bitcoin goes straight to the point and doesn't give a damn about my complicated ideas. The chart shows everything as if it were in the palm of my hand. It's a standard downward breakout from a rising wedge, it's that simple. What's going to happen now is probably a quick return to the bottom edge of the wedge and...

stanosky Updated 

I think bitcoin has just formed a diamond pattern. If I'm right, it means that we will see the last leg up to the upper edge of the blue rising wedge, which at the same time will be a retest of that wedge. Further price movement will perhaps form a Head and Shoulders formation, but I think it is more likely to be a decline with smaller or larger bumps. This is...

stanosky

It's been a while since I did my last analysis for XNO. Nobody liked my last idea, ha ha. Therefore, I assume no one will like this one either, well, but I don't care. Anyway, it seems to me that XNO has just formed a huge Head and Shoulders formation. If I am right this formation will bring the price of this cryptocurrency to unexpectedly low values. Even I...

stanosky Updated 

The chart above is self explanatory. You can see three very bearish patterns: a rising wedge a descending channel and possibly a giant inverted cup-and-handle formation While I don't believe bitcoin will break out of the downtrend channel, I allow for the possibility of a false breakout up to the upper edge of the rising wedge or slightly above. If this...

stanosky Updated 

I think that from this point bitcoin will start to fall sharply downward. The bulls have lost their strength and vigor. They are tempted to take the forbidden apple like Eve and Adam in the Garden of Eden. I'm not a religious person, I just like sinister stories. This is not financial advice.

stanosky Updated 

Usually a megaphone formation is a trend continuation formation. This time, however, it appears to have been invalidated by a sharp downward bounce from the upper edge of the trendline while attempting to break through it in the last, fifth swing. Given the bearish divergence on the daily and weekly RSI, I believe that we are in for another big drop in the coming...

stanosky Updated 

It looks like bitcoin is slowly finishing forming a diamond pattern on the daily chart. If I am right, we will see a reversal of the trend back to bearish, as I predicted in my previous analyses. This is not financial advice.

stanosky

I'm not bullish by any means, but I can't ignore the formation that is emerging in the four-hour time frame. I think we may see one last leg up before the final capitulation. This is not financial advice.