Bitcoin / BTCUSD crossed and closed yesterday not only over the 1day MA50 for the first time since May 6th but also the Falling Resistance coming staight from the April 14th High. That is a major bullish break out signal, similar in magnitude with those of January and March. Their rallies completed a +54.50% and +58.00% rise. That is +3% difference. Adding +3%...
I mentioned before, that a break is coming for this regression channel, and the falling wedge. I would like YOU to tell me what do YOU think? Is this the breakout or it is a fakeout? *I will probably get back to you on the comments, If I feel I have to give my two cents.
BTCUSD is on neutral technicals on the 1D timeframe (RSI = 52.076, MACD = -177.600, ADX = 37.429) as it remaing inside the two month Channel Down but hit its top today, as well as the 1D MA50 for the first time since May 29th. If it closes the 1D candle over it (hasn't done so since May 6th), we will buy the breakout and target R1 (TP = 32,400), which is a 12...
Bitcoin finds support off the 25K support area as I have been writing about for weeks. On Thursday I sent a note to my members pointing out the inside bar development. As a result some of them took the swing trade long (almost 1K points in profit). The take profit area continues to be in the 28K resistance area (R:R should be around 1.5:1). There was absolutely no...
✅BITCOIN is going down now But a strong support level is ahead at 25,000$ Thus I am expecting a rebound And a move up towards the falling resistance LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Hi everyone. Last 3 weeks we've seen incredible strength from bulls. There are no doubts that bulls are in control. There were not any signeficent pullbacks during this pump. Many traders stayed on the sideline waiting for 10k. However, it looks like everyone already forgot that BTC printed for the first time ever a Yearly bearish engulfing candle. On crypto...
Bitcoin (BTCUSD) just flashed one of the rarest buy signals on the 1W time-frame. The Bollinger Band Width Percentile (BBWP) bottomed at 0%, giving a narrow width signal. Historically, when the price was above the 1W MA20 (red trend-line) during that signal (4 times/ green circle), it skyrocketed shortly after, while when it was below (1 time/ red circle) it...
Bitcoin (BTCUSD) made a new Lower Low since the short-term Channel Down started on April 14 and is rebounding in the past five hours. The long-term pattern remains a Bullish Megaphone and this Channel Down is the corrective wave towards the Higher Lows trend-line. For as long as it holds, it is likely to see it bottom on the 1D MA200 (orange trend-line) just like...
Bitcoin (BTCUSD) posted last month the first 1M (monthly) red candle closing since December 2022. That was a strong four month bullish streak with the 1M MA50 (blue trend-line) supporting since March 2023. On today's analysis we put emphasis on the importance of the candle closings on the 1M time-frame. As you see, both May and April closed below the Resistance...
Bitcoin (BTCUSD) is very close to forming a Bullish Cross on the 1W time-frame between the 1W MA20 (red trend-line) and the 1W MA200 (orange trend-line). When completed it will be its first such pattern in its history and that is a major bullish signal on its own. In order to get a full grasp of this formation's magnitude, we compare it with the Nasdaq (NDX) on...
Bitcoin (BTCUSD) is currently testing (and so far holding) its MA200 (orange trend-line) on the 1W time-frame for the fourth straight week. This is being cemented as the new Support of the new Bull Cycle. A Bull Cycle which was confirmed after the price broke above the Lower Highs trend-line of the Bear Cycle, as well as the MA50 (blue trend-line), forming a Death...
Bitcoin (BTCUSD) is on the third straight red 1D candle following Monday's rejection (and closing below) on the 1D MA50 (blue trend-line), the short-term Resistance MA. This maintains the medium-term Channel Down but at the same time the long-term Channel Up since the start of the year remains unbroken. The 1D MA100 (green trend-line) is the first line of Support...
Notice how the weekly Stoch is still being dragged out as price stays tight? bullish outlook should be considered here. Looking for a flip . Prevailingnine 5.21.23
Bitcoin (BTCUSD) is about to close the monthly candle of May and most likely it will be the first red since December. We haven't seen a four month bullish streak since January 2021. Despite the end of this succession, this is far from a discouraging long-term signal as the past two Cycles show that every time the 1M time-frame prints this pattern where a red 1M...
Bitcoin concluded yesterday's trading session breaking the swing highs created on May 15 and 23. This marks the first instance of BTC exceeding these swing high levels in a span of seven weeks. A substantial support level is discernible below the 25,500 level. However, considering the formation of a double bottom pattern on the daily chart, coupled with the...
Once the $40,000 ceiling is breached in Q4 2023, it will be a straight road to $100,000 within 6 to 10 months. The bitcoin halving of April 2024 will come and go. A major correction will only be after a top of $100K to $150K around mid-to late 2024. This will be followed by a mini-bear market / correction to the previous ATH of $60Ks. This correction won't...
Our last week's buy signal was purely based on the 1D RSI break-out (see chart below) and Bitcoin (BTCUSD) didn't fail to deliver: As you see, the RSI on the 1D time-frame eventually broke above its Lower Highs trend-line, and as it has done all year on three previous occasions, it is starting to rise aggressively. Today the price broke above the 1D MA50...
Bitcoin (BTCUSD) has been on a minor pull-back phase in the past 5-6 weeks and that is again inflicting fear in the weak hands of the market participants. However, this should make us lose sight of the bigger picture and BTC's long-term goal. This chart on the 1W time-frame illustrates a very unique pattern that splits BTC's historic price action into 4 phases...