Btcsignals
Bitcoin- Back to support?On 27 September I recommended a buy trade for Bitcoin saying that the cryptocurrency could rise and test 28500 resistance.
This target was reached on Monday and BtcUsd started to drop again.
Although I had a short-term buy trade, my bearish medium-term outlook has not altered and after this new test of resistance I think Btc will roll back down to support
At this moment we have Bitcoin just above confluence support and a rebound could follow.
However, I will use this rebound for a short trade against the recent high.
My target is 25k support
BTC - DCA StrategyI just wanted to share this very quick chart
I am finding that we are at that part of the BTC cycle when people make mistakes, get impatient, give up, loss interest or feel like the cause is lost.
Its so important to realize and take advantage of these quiet periods and outline clear zones of interest.
When I find the patience and hope in me fading ill make a very small purchase and then set a bid, maybe even a large one into Zone 2 at a level im happy with. In the past this has paid dividends.
I hope this rough guide is helpful, patience is the name of the BTC game guys
PUKA
My prediction for BTCUSD - Correction and continuation upHi Everyone,
Here's my prediction for Bitcoin in the next few months:
By the looks of it, we should see a slowdown in this spike upwards in the next few days, which will then likely form a Dogi candle (#dogicandle) on the Monthly timeframe.
With a Dogi candle in place, we will then start to see a formation of the Evening Start pattern (#eveningstar), which indicates a change in direction.
If these statements are confirmed, we should be seeing a correction from the recent strong bullish momentum - and it could correct towards as low as 19,000 area!!
With a correction towards 19k area, the technical analysis would be showing a double bottom pattern (#doublebottom), which will then indicate that the correction has been completed and the market is ready to move back up and continue to a, hopefully, all time high! (#ATH)
Of course, the speed of this movement will depend on the volume getting into the market and I believe that news could play a key role in bringing these movements into the chart.
Get ready to BUY BTC dips, but you don't need to rush as these patterns should develop throughout the next few months.
Let me know your thoughts!
$BTC 1W showing Hidden BullishCRYPTOCAP:BTC 1W showing Hidden Bullish
What Is Hidden Divergence?
Hidden divergence is created when the price of a cryptocurrency carves a higher low, while the indicator creates a lower low. Typically a hidden divergence can also be categorized by a bullish or bearish hidden divergence.
For example, a bullish hidden divergence happens during a correction of an uptrend when the value of an asset makes a higher low. However, the oscillator is still showing a lower low. This usually translates that the bullish trend continuation signals trader to take profit.
Bearish hidden divergence, on the other hand, is the opposite. Meaning the value of an asset makes a lower high, but oscillators are showing a higher high. This signals a trend reversal in which a trader should stop loss and sell-off as soon as possible.
Possible Bottoming pattern forming It is very much possible that Bitcoin is forming a bottom as we speak , we have just had that distribution uptrust after a big move down where everyone thinks its going to reverse and then it comes back into range then everyone panics its going lower.
But really what happens is far more boring , we go back into a range for a breakout later when everyone been rekt both ways.
This bottom pattern appears in many different time frames , the larger the timeframe the bigger the move.
If we do breakdown further , CME gap at 20k is likely to close