BenSnow

BenSnow

LONG TERM LOG GOLD

BenSnow

Some interesting things here. BTC around 50k Sept 2020

BenSnow

Play by play breakdown of the price moves over past few months with labels, note the 18hr alternating volume pattern observable across many crypto markets.

BenSnow

Bitcoin recently broke out of medium term consolidation with three sharp short term moves, looking for a couple corrections down to trendline support and enter a long there

BenSnow

Bear and bull fan lines with some key support/resistance levels, these lines have been in play.

BenSnow

bear and bull fan lines for the bitmex perpetual inverse swap contract based on the medium term movements from the 6k drop and the ~3k bottom

BenSnow

Long term consolidation from 2018 broke down into medium term bearish trend testing fibbonacci retracement levels and forming some short term triangle consolidations on the way down. Current triangle has until the end of march until it completes, likely sideways for a week or two until breakout.

BenSnow

Bitcoin has been consolidating in the 3-4.5k range since the drop from 6k out of the slow consolidation at that level in 2018, until the price falls below ~3k or rises above ~5k the price will continue to be trendless on the medium term. There is a bullish channel on the short term.

BenSnow Updated 

Factoids in the bitcoin pairing pushing up to downtrend resistance from the past month, should be a decent breakout if it can push past.

BenSnow

After this higher low around $3500 there is a triangle setup forming on the medium term, good sized move out of this likely, targets of 3k for the bear breakout and 5k for the bull breakout.

BenSnow

some simple bear/bull fan lines

BenSnow

What it would look like if Bitcoin is at the termination of a long term corrective wave and the fifth long term impulse wave mirrored one of the previous impulse waves. Long term Bitcoin impulse waves have taken around 3 years to complete so far, the last corrective wave took 2 years. This is for education purposes, is not a prediction.

BenSnow

medium term channels and downtrend resistance lines, green circle marking the level needed to start an uptrend

BenSnow

Channel and fan lines from past week

BenSnow

Medium to short term channels with some random trendlines interspersed as well.

BenSnow Updated 

Possible medium term channel forming with a target at the upper limit around .0075-.009 btc, high risk long at this level, channel needs one more test to confirm

BenSnow Updated 

Downtrend trendline resistance from the past month broken, pulled back and passed the retest, symmetrical triangle forming on the short term

BenSnow

If the DJI falls below critical trendline support expect a precipitous fall to support at ~14k, similar double top marked in green.