Hello everyone,
Quick post for tonight. This is hard to say but I believe Bitcoin is about to drop. History is showing a clear repetition of itself within this chart. Here are the technicals:
1. Negative RSI and MACD: Negative RSI and MACD equate to a weakness in trend. When price is going up and MACD/RSI aren't correlating, it signals exhaustion.
2....
Hello Everyone,
I've been seeing a lot of tweets and posts suggesting this drop and the few more to come are a result of Elon Musk's tweet about Tesla no longer accepting bitcoin. How can you blame one man's tweet, that even states "Tesla will not sell it's Bitcoin" for the drop in price? Here's the truth:
Bitcoin has been far over extended since the first move...
H1 : 61.8% Fibonacci retracement filled @ 49201 (intraday low so far @ 49000)
Last candle (bullish engulfing) might trigger a recovery
In order to invalidate the ongoing bearish price action, BTC needs to recover
above MBB currently @ 50784 and also above the downtrend line resistance.
On the downside, clouds zone should be watch as the...
D1 : Despite a strong recovery attempt seen yesterday (thanks to Mr Elon Musk...which "help" and triggered
a sharp upside move in a couple of hours (31990 towards 38620 !), BTC did not manage to close and hold
above the downtrend line resistance which is still in place and which worked perfectly well in rejecting
5 times breakouts attempts !
...
Today's analysis – ADABTC – Showing signs of exhaustion as it tests key a support level. Breaking below support, price is likely to retrace to daily support. However, if PA continues to respect the 21 EMA, a bullish continuation is probable, negating the thesis.
Points to consider:
- Bearish price action
- S/R flip re-test (trend reversal)
- 21 EMA (visual...
Todays analysis – SPX – breaking bearish from its long-lived multi-month ascending channel
Points to consider:
- Channel support breached
- Testing daily support and 200 DMA
- Bearish price action
- RSI breaking below 50
- Stochastics oversold
SPX needs a daily body candle close below channel support for a bearish bias in the market.
Currently retesting...
I can see that price has been bearish from the top at about 1.615€ ...
Now that price seems to have pulled back at 50% around 1.556€ at the beginning of last week.
Price actually ended up last Friday with a nice tail around 1.532€ at a nice support /resistance
Which tells me that price may be ready to go further down forming a nice XABCD pattern.
price has been...
