Unlike what I usually publish, this is a very short-term idea on Bitcoin on the 4H chart, where I see the following: - A strong accumulation zone in the form of a Channel Up, where the price is mostly consolidating and buyers are accumulating. - A Support Zone (green region) which has been instantly and very aggressively bought twice. - A Resistance Zone (red...
Bitcoin reached the $12000 Target level I set on my previous analysis with relative ease as it followed this fractal shown below: What's next? In my opinion and based on all relative trend-lines involved, it is the $13900 Top made in June 2019! ** Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant...
I've published the very same pattern back in December 2018 when the previous Bear Market was at its lows and while everyone was panicking, called for a potential Bottom on Bitcoin and a Bull Run to follow. Why? Simply because of the Litecoin break-out relative to BTC. As you see on this very simple chart, every time the LTCBTC pair breaks its Lower Highs...
At the beginning of the month (which I followed with an update one week ago) I posted the following idea that Bitcoin was trading within a Channel Up since the beginning of May, stressing that this was by far the more reliable pattern we would get: ** Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant...
The weekly chart shows very good momentum for BTCUSD at the start of this week. However with RSI entering overbought territory we may see some consolidation at this level during the week, setting us up for a major upswing in the following week.
BTCUSD has followed our green arrow projection, but Team Sparkster thinks price action may accelerate as the weekly candle comes to a close. Next week... early... we may see a $1000 candle. Got your signals ready? Just saying.
This is a very interesting pattern. It follows Bitcoin's price action from the December 2018 bottom until now on the 1W chart. As you see excluding the candles that pushed BTC above the Channel (LIBRA euphoria) and below the Channel (COVID panic), the price follows a fairly well structured Channel Up. Interestingly enough, both anomalies outside the Channel were...
A lot of talk is being done lately about what most people will be the next market high: $100000, but more importantly when. I will keep this idea simple, as simple is the application of the Pitchfan tool on Bitcoin's historic cyclical run. The top end of the tool is put on each Cycle's peak (the top of the Bull Market) while the other on the low (the bottom of...
Hi guys, I hope you are all fine. I have tried my best to mention all the things using only candlestick analysis and trend line analysis. IMPORTANT POINTS: 1. 23 July CandleStick has rejected from Fibonacci Level 0.5, which indicates a strong signal for reversal. 2. Candles have broken the Triangular wedge causing it to breakout. 3. Accumulation of 25 days...
A drop of 5% would suggest an extended drop, however based on momentum turning positive on weekly time-frame and cloud support visible on 3-day and also on 1-day charts, Team Sparkster is feeling a little more positive about bitcoin direction. At this point, it would take a big dose of bad news to push prices down. With a 12% target and 5% stop loss, the risk...
A sudden 2% pump in price for BTCUSD is exciting... it suggests we may finally see the market start to rise. However: On closer inspection we have cause to be cautious... Until we see a breakout or a swell of momentum and volume on higher time-frames, Team Sparkster is skeptical. The problem is that Market Makers (whales and institutions) can easily take...
This is a short-term update on Bitcoin's price action. I illustrate all the dominant patterns that are involved since the early May top formation. ** Before we start, please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** ** The Channel Up ** As you see within this Rectangle (blue) consolidation since...
Higher time-frames have more influence then lower time-frames. With the weekly candle close showing almost no movement, a peak at the 2-week time-frame reveals short-term moving averages showing a top-heavy formation. This suggests price could move down. MACD confirms downwards direction too. We also see a double top (green circles). A burst to the upside...
Have you ever thought of Bitcoin's Cycles in the way drawn on this chart? This study is highly speculative so I will not spend much time analyzing such a probabilistic scenario. I will let you observe the chart and tell me our thoughts. Sure thing is that all of BTC fundamental factors such as its Parabolic Growth nature, the eventual asymptotic ending, the...
I just want to set all the confusion straight regarding Bitcoin's ranged price action since May. After each BTC Halving, the price always consolidated for several weeks before a bullish break-out from the range. To put this into perspective, following Halving 1 (November 28, 2012), BTC consolidated for 6 weeks within a roughly 12% range. After Halving 2 (July 9,...
A signal to close positions is now occurring on the 3-day chart with the conversion line (blue) falling down to meet the base line (red) on the Ichimoku indicator. We could easily see a 10% correction back down to cloud support. Price is also dropping below cloud on the 1-day chart. We need to see a 4% price boost to save the momentum turning bad over the next...
You’re not going to get all the technical jargon here. Takes too much time and I don’t use many indicators anyway. Look for long opportunities near $8700. When you see $9777, don’t think jackpot. Think ‘SHORT’!!