Expecting price to be limited on the daily by the "death cross" of the 50/200 moving averages. Further downside with short term dead cat bounces at 6k and 5k are likely. Looking at the $3600-3000 area as a potential bottom for now. Of course, if price breaks up past the major downtrend line of resistance, we will reevaluate with a possibly more bullish sentiment....
BTC is showing a bearish posture on all timeframes right now (weekly looking neutral to leaning bearish). The 1 hr chart has a h&s that has broken to the downside, 4 hr chart shows price under the 200ma, and the daily is in a bearish TD countdown approaching the 200ma. In my opinion, this is a no trade zone on the daily with a possible short scalp on lower...
Price is currently being held up by the hourly 200 MA. A close below this moving average and the neckline in the vicinity of 10300 would signal a further decline with a target in the 9k range based on the height of the H&S pattern. If price remains above 10300, price is expected to continue upward to test the major downtrend line extending from the 20k high.
Nice bounce at the 6k area with substantial volume. Looking for a close over 8400 as confirmation, ideally via a bullish engulfing candle on the daily. Alternatively, if we cannot close above 8400, next target to the downside is the 5k area.
Bullish scenario: V-recovery, daily close over 8400, follow-through volume
Bearish scenario: Unable to close over 8400,...
Momentum and support are looking weak at the current 8k level, looking for next target in the 6k range. A close above the dotted line from that area on higher timeframes would be a good reversal sign, otherwise we continue down. Anything more than one retest of the low should be a warning sign of trend continuation.
BTC/USD showing a lack of momentum and has been unable to hold the 8500 level off the 1hr 100ma resistance bounce. Looking for a bit of consolidation and then lower to the first target of the 5k area. A close below 8200 signals confirmation. Short trades can be entered at either, a 4hr close below 8200 or on a short term bounce to 8900 and the 1hr 50ma resistance...
This post is speculative and I would advise you to consider it only as a broader outlook on possible outcomes moving forward. With that said, it's very interesting to see the pattern here, not only with price, but also with timing.
1. Prior two all time highs: We made a high, retraced for 16-18 days, made a new high, and pulled back.
2. The pullback on both...
I'll admit, it's anyone's guess right now with these crazy bull runs. However, we hit the 786 fib extension and I believe it's unlikely to make it all the way to the full extension without retracing first. Too much too soon! It looks to be a perfect setup with the full fib extension intersecting the trend line of resistance within a time reasonable time frame to...
History may be giving us some info as to the future move of BTC. We may expect a pullback to the 50 fib before a final move to the high around 6k. Short entry may be tricky, tight stops and lower time frames to pick your entrance. Alternatively, PPO matching previous move may also give a clue to best short entry.
