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...
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...
As I mentioned a few days ago, BITSTAMP:BTCUSD has broken above the descending resistance level of its downward channel. This breakout could signal the end of the recent correction. Following the initial climb to the critical horizontal level at 65k, Bitcoin experienced another drop, testing the previously broken resistance level, which this time acted as...
🏃♂️ Bitcoin is moving near the 🟡 Potential Reversal Zone(PRZ)($61,800-$60,900) 🟡 and 100_SMA(Daily) and Support lines . 🌊According to Elliott's wave theory , Bitcoin is completing corrective waves , most likely a Zigzag(ABC) corrective wave structure. 💡We can consider corrective waves in the form of a pullback to the upper line of the descending...
Bitcoin (BTCUSD) is trading within the Rally Channel (green) with the price having already reached its bottom, making the 2nd Higher Low of the pattern. This is the very same pattern that emerged in the previous Cycle after the Growth Channel Up and took BTC to its new All Time High (ATH) at the time. Both Growth Channels had a crash event below them, the...
Bitcoin (BTCUSD) has seen a major buy signal getting triggered at the end of last month, that few are aware of. Our dominant circulating liquidity + High Yield corporate bonds formula (black trend-line) made a bottom and is rebounding, while BTC has been consolidating/ marginally pulling back. Every time this combination took place in the past (green circles),...
✅ Bitcoin moved as I expected in the previous post . 💡Currently, Bitcoin has reacted well to the 🔴 Resistance zone($65,650-$64,200) 🔴. 🌊According to the theory of Elliott waves , it seems that Bitcoin has succeeded in completing 5 impulse waves and now we have to wait for corrective waves . 💡Also, we can see Regular Divergence(RD-) between two...
🎉Hi guys, I hope that you have a great weekend . 💡Bitcoin failed to break the 🟢 Heavy Support zone($61,100-$58,700) 🟢 and 100_SMA(Daily) and created a 🐻 Bear Trap 🐻, one of the reasons for which was the release of the US employment rate . 🏃♂️ Bitcoin currently seems to have succeeded in breaking the upper line of the descending channe l and is moving in...
At the beginning of the month, due to tensions in the Middle East, BITSTAMP:BTCUSD dropped below the crucial 62k technical support level, even dipping below 60k to reach a local low at 57k. However, this breakdown was short-lived, with BTC spending only 2 days below this significant level before reversing strongly. This reversal confirmed a false break when the...
Bitcoin (BTCUSD) closed the first green 1W candle following a streak of 4 red ones, so it has been the first week in almost 1 month. That alone is a strong bullish sign, especially on the very aggressive Channel Up on the 1W time-frame (chart on the left). As you can see, every consolidation that is formed after a Higher High (red Rectangle) ends and transcends...
✅ Bitcoin finally managed to break the 🟢 Heavy Support zone($61,100-$58,700) 🟢 and the lower line of the Descending Channel and 100_SMA(Daily) . 🏃♂️Bitcoin is currently pulling back into the 🟢 Heavy Support zone($61,100-$58,700) 🟢 and moving near the 🟡 Potential Reversal Zone(PRZ) 🟡. 😱The Fear and Greed Index entered the " Fear zone " again after more...
Bitcoin (BTCUSD) dropped on the Fed Rate Decision day near the 1W MA20 (green trend-line), the closest it has been to it since the week of October 16 2023 when it broke above it. This level is of considerable important for BTC as it is probably the most consistent Support historically during Bull Cycles. On this 1W time-frame analysis, you can see why that is. In...
Bitcoin (BTCUSD) almost tested the Higher Lows trend-line that started on the October 12 2023 Low, which is technically the bottom of the 6-month Bullish Megaphone pattern. Having a notable Resistance on the 1D MA50 (red trend-line), which is where BTC last failed to make its bullish break-out, if this level holds, then we can expect a strong Bullish Leg such as...
🧐Today, I want to analyze Bitcoin for you in a weekly time frame so that maybe it can give us a good view of the continuation of Bitcoin's movement . 🏃♂️If you look at the chart, Bitcoin is moving in the Ascending Channel in the weekly time frame, the ascending channel I have drawn seems to be a valid channel, so that the middle line of the ascending...
🏃♂️ Bitcoin is moving near Support lines . 🌊According to the theory of Elliott waves , Bitcoin seems to have completed microwave 3 of the main wave 3 and is currently completing microwave 4 of the main wave 3 . 🔔I expect Bitcoin to start Going down from the 🔴 Resistance zone($62,940-$62,540) 🔴 and attack the 🟢 Heavy Support zone($61,100-$58,700) 🟢. ...
👋Hi, everyone. First of all, I apologize for the chart being busy, but I think all the lines and zones are needed to better understand it. 🏃♂️Bitcoin is moving in two descending channels : a ⚫️Black Descending Channel⚫️ and a 🟣Purple Descending Channel🟣 . Also, it is currently moving in the 🔴 Resistance zone($66,050-$64,520) 🔴and near the Upper line of...
Bitcoin (BTCUSD) hit and broke yesterday below the 1D MA100 (red trend-line) for the first time in more than 3 months (since January 23 2024). This is progressively turning the majority of news and traders across the market bearish and in full confidence of shorting to even lower prices. Should long-term investors panic? The answer appears to be 'No' and in fact...
Bitcoin (BTCUSD) is about to close today (unless the 1M candle closing is above 71500) the first red month after 7 green monthly candles in a row. The last month of losses was last August (2023) and since then we've experienced an unprecedented rally, fueled primarily by the ETF anticipation and then its confirmation. So is this alarming? Actually not. Sole 1...