Sticking to my earlier analysis this is what I am able to see for bitcoin Analysis is based on 50/200 MA in 1 day 3 day weekly and monthly chart, support and resistance Elliot waves theory. I have been bearish on bitcoin since the 3 month close when it formed a inverted hammer candle which was the also a confirmation for reversal and then rejection from 50 ma in...
This is another look at a GANN study… Here we see the bounce, If we are heading to the 60k region and it kind of looks like it, maybe we break through clean.. There are three options on the board… Support levels look pretty good… fear and FUD is falling… So the question really is hold and buy or Sell? BTC will always go up long term… It always has. We could be...
Once again we can see that Bitcoint amazed us but not with an increase but decrease, but no worries in a few weeks will recover itself.
Bitcoin has approached the target for that first a-b-c move up of the early January low. That Red Target box is drawn at confluence of: - two Anchored Weighted Moving Averages - downward sloped red trend line, - 100%, and 138.2% ext of wave -a- up. After completion of that rally we can see another pullback in wave -ii- down to re-test the breakout resistance...
Hi mates, Reopen Position at 0.618. Take Profit and Stop Loss on Chart. Indicators: Traditional Pivot P = Middle Line (Blue) Woodie Pivots = S/R 1-5 (Blue Zones) Triangles = Fearpoints based on SMA Highs Lows KeltnerBands Range with 3.618 & 6.618 -- Much success tbot21 the trading robot 🤖 --
Seems to be a similar pattern playing out here. Retail and short term coin holders keep selling at a loss. Trend has been broken similar to scenario back in June. This time instead of China miners shutting down, its Kazakhstan. Internet has been shut off in the 2nd largest bitcoin mining country which severely will effected the hash rate.
WHITE Line: 20MA BLUE Line: 50MA PURPLE Line: 200MA We are going to the MOON. Happy new year guys! Fireworks are for free this year.
legit entry point, we can see fakeout and quick increase. Wait for the breakout and test! positive divergences also cherry on the cake
If this fractal plays out, next target for bitcoin would be around $70,000 around the start of November. $57,000 - $58,000 would be critical supply/demand levels. Watch out for there's areas, as fake outs will probably occur by market makers.
After each cycle top, Bitcoin tends to go down till weekly 50MA , bounce around 50-70%, then retest the weekly 50MA and breakdown to weekly 100MA (Currently at 23K and increasing) and weekly 200MA (Currently at 15K and increasing)! Interestingly, Weekly RSI is almost at the same level too! Will history repeats itself this time?
These are a few of the main reasons I entered into a long position in BTC.
Bitcoin is at a critical level on the 15Min timeframe. It is testing the 200MAs, and actually just got a pinbar candle (which is bearish). At the same time, it is putting in a W pattern double bottom (which is bullish), so right now bulls are battling the bears. If price can close above the neckline of the double bottom at 33.6K, and especially if price can close...
It will be your self fulfilling prophecy.
Huge head and shoulder formation for btc on daily time frame which we broke to the downside and capitulated quickly to 28k. However the fast recovery gave me indications that e might breakback above 42k and eventually bange between 42 and 46k. However , we failed to break 42k region. meaning there is further downside. If we break 35k, aim for 26k for short...
Based on my previous idea which I just updated too, BTC was going to hit 42k sooner than later and the picture wasn't great. The fractal played out nicely and the current correction has been pretty large, potentially even the beginning of a bear market. However in my opinion there is a lot of support in the 38-42k zone which hasn't been fully retested yet. On...