We could see price reach our target resistance zone ( red box ) then we are expecting price to keep falling and could find some key support at around the 3417.1 area.
We think that after price hits our support area we are going to start seeing BTC price pick up and could even see price hit 10,000 this year, but that's a just our prediction for the long...
We predict that Bitcoin (BTC/USD) on Bitfinex will bottom between $2,400 and $2,900 before the Summer of 2019 before moving upward towards new highs over the next few years.
- Strong Fractal Provoked An Almost -50% Move Previously
- Lower Highs
- Failure To Close Above Downtrend
- Broke HTF Support Trendline
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On the weekly XBT chart on Bitmex I have circled some doji candles. I have circled the doji's at the end of a trend. As you can see after each doji there was a trend reversal, or if you don't wanna say trend reversal you can call it opposite direction for 1-2 weeks.
We have just formed what is appearing to be another doji candle at the end of a downward trend,...
BTC - Upward trend formed and as 50MA is acting as a resistance, a push past that and we should hit our Target, High leverage opportunity in place. A break of the trend should signal SL and await next entry.
BTC/USD made a clear triangle patter. At the moment price is very close to the top triangle (large grey line) also we have a smaller triangle patter next to this resistance (smaller grey line). Break through it can indicate bigger correction to the upside. Be awere there is still plenty of strong resistance zones above (dotted lines) .
Seen strong selling at the recent test of the price zone of 4k
the origin of the move was down back a the lows of around the 3400k level
If price pushes back here there is a lower risk long position from here to re test 4k and if weakness is found go and test 5.5k levels
There's a cluster of resistance at $3,564:
Supply line (red line)
Fib line 23.6%
The price had already bounced off of the resistance and is headed downward.
The interesting part is the weak volume on which the price had been climbing for the past 3 candles. This indicates bullish divergence as the volume bars are way below average.
As Bitcoin is in free fall and trending in confined range, the price will bounce between $3,000 and $3,500.
If the daily candle closes below $3,000 at any point, the test of $1,850 (S2) is highly likely as there's literally nothing in between to stop to price from falling.
S2 is the major support established in July 2017 which was the start of the Bitcoin run...
Following a bullish breakout of a descending channel pattern my price prediction for bitcoin of around USD $4000, and then some retracement can be expected, but it looks like the bulls are gaining strength once again. Most of the panic sellers have probably sold their bitcoin now to institutional investors, and the remaining HODLers are optimistic that prices will...
The RSI level is in the overbought area at the moment so I expect a small cool off, followed by resumption of the bull move. This means there could be a small opportunity to short the bitcoin price over the next few hours.
As we start this new week, with fresh wave of sell offs, we are starting to realise that $3000 may not be the bottom for BTC. 3 Targets are stated in this chart, Red, Yellow and Pink. I do believe that Red and Yellow will be meet with ease, While the Pink target could be a lot harder to catch.