FLAG = Impulse + Correction
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After a significant drop in Bitcoin price , the price is in a correction wave.
What makes the chart interesting today is that:
. Bitcoin is likely to challenge the 18042 ~ 18227 resistance area.
. A break above 18227 could push the pair to the 19487 area .
. A resistance rejection ,...
Inverted Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a Valley (left shoulder), followed by a Lower Valley (head), and then another Higher Valley (right shoulder).
A “ Neckline ” is drawn by connecting the highest points of the two Peaks. Neckline resistance does not need to be strictly...
Here is another potential way using my 3 MACD's to confirm if LO is in. MACD line & Signal line must be <0. Then take first 3 all rising Histograms <0. Box their price range in blue. Then wait for first single collumn of all Histograms >0. CAVEAT: Data from 8th Nov. Only. NOT ADVICE....
Only 3 examples like this dating back to last parabolic climb when break out closes above resistance straight after signal confirmed and they produced gains from low of the signal set-up of 80.93%; 158.14%; 244.13% respectively. Each ended when 2 of my 3 MACD turned light green. No guarantee will be that easy this time. See all chart examples below or scroll...
This is a brief educational post.
See the parting of ways between Gold and BItcoin.
We won't know if this means anything. But it's one to watch. This could be a short term separation.
Stay safe. Don't burn cash. Avoid FOMO. Have a good weekend. 👍😃🙏
The volatility of Bitcoin on anything less than a 4H chart, hides its path of momentum. On this monthly chart I show what I see. Move chart to left to see more. The path is more probably up in the long term based on monthly momentum. In my hypothetical $30,000 is possible - but I make no predictions. I previously made other speculations.
If we hit a 1929-type...
It looks like a Doji in Bitcoin Shorts favours the bears either from the start or with a trap. Bulls need to work out if worth learning to trade this info. Gold bugs also need to take note. Also worth noting last example was in a bitcoin uptrend therefore bears may be out of luck this time. A Bitcoin Longs study will follow this one. CAVEAT - small sample size....