Bitcoin has a good 10% drop due to some exchanges and FUD. What's new. Im still optimistic (depending on how you see the picture) for $5k still - Watch for BO or BD of rising wedge - If we break BD (most likely) $5924 is my 1st target > $5723 - Overall, I am still bearish til around $5k - Im waiting on the side lines and not buying or selling - Tested .5 Fib,...
The bear market could reverse when bitcoin reaches long term support lines.
As per my last analysis – the symmetrical triangle pattern has played out. If we don’t go any lower, then we might be forming the purple falling wedge reversal pattern. This pattern sees us start to move higher (to around 6400ish – April low) before sinking us all the way to 5780ish where we have strong support. From here based on the height of the pattern, we...
Understanding Structure is key, where did bullish impulses start, where do we want to buy and where to sell. Be strict, we are in a bearmarket, take good stops and good luck! Trading the white lines for scalps is great!
Shorts are dangerous On the daily indicator double convergence Better wait for the release of BTC from this wedge In this situation I will only go with the purchases
Good morning! Almost 3-4 days we have seen BTC sideways movements, little exceptions here and there! But if we move sideways it doesn't mean that we don't break or don't see some price action patterns. Yesterday we break one significant support - curve support, this is for us a little bearish confirmation. 4 hours ago we got also another bearish confirmation when...
After giving it a good run, bitcoin took a few shots to break resistance at $6800. It had one dip then tried again. Every effort was sold with strong volume. Today we had a sell down to the $6700 area then spent over 12 hours in a tight $50 range hovering the bottom of a rising wedge. The bulls took one last shot to drive it up and it was sold into at $6760. ...
If you read my previous analysis then you would have seen that I identified a symmetrical triangle pattern that would potentially send us down. Well as it turns out; we didn’t see the confirmed break to the downside we were looking for and the crisis was averted! Or was it… We now find ourselves with two potential triangle patterns at play which could take us...
*Best read in Bob Ross's voice" Hello, I am Bob Ross. Welcome to this edition of Trading with Bob Ross. Please take a minute and make sure you have all your supplies ready. For this episode, you will need a few things. Your canvas, your indicators in phthalo blue and some crimson red rsi . If you are ready, I will show you how to make some real masterpieces....
There is a possible move about to happen with $BTC soon and it could be a move we are all well too familiar with these days. Like previous rising wedge that brought us down to where we are at now, it was formed on a downard trend. Upward wedge's are not good usually good news as they are seen as bearish. For this to be denied we need to see bitcoin rally up to...
Good Luck !!
Looks like we're setting up for the final stab of the knife!
I love this indicator. It seems to be quite accurate with these settings on the 1 hour chart. Give this idea a like if you agree.
An inverted Head and Shoulder was completed on 1H and the price is now trading sideways on its 6,700 - 6,800 neckline (CCI = 17.8139, Highs/Lows = 0). 5H remains a Channel Up (RSI = 57.768, Highs/Lows = 15.8509) serving our bullish purpose but a new Higher High near 6,960.40 is required by tomorrow in order to sustain the trend (TP = 6,989 and 7,309.30). The...
Hey peeps, just making this chart as I see the links in bitcoin very interesting to this accumulation pattern. I honestly don't think this is likely to play out, but I made the chart so I can follow it. This is also a very rough idea and I advise no one trades off these arrows. i.gyazo.com PS—preliminary support, where substantial buying begins to provide...
BTC has been acting like itself lately. This reversal was predicted as soon as the left side of the pattern became clear. I felt we should have recovered a day or two earlier than we did - which is why if you go over my previous posts every post says were going to 6800 and then 7200 as chart continued sideways. Buying BTC when its worth less than usual doesn't...