Bitcoin is facing heavy resistance which is coming from two sources: One is the horizontal resistance of 24 to 25k, and the other is the 200 weekly moving average. This means that there is confluence on the resistance side. Not only are we facing resistance, but this uptrend is already lasting for 53 days, making it likely its time for a correction. Why is this...
Jan 19, 2023 3:40PM UTC $BTC/USD trading at $20.9k While most would feel that the current pump is overextended, if we zoom out on the higher timeframes like the Weekly, Monthly, 3M, and 6M, we're essentially just starting. Coming from my previous prediction of $BTC hitting $20k, I'm betting we get to $24k first before any major correction. RSIs have already...
Our preferred scenario in Bitcoin remains the same. An increase in wave 5 could bring the price of BTC to $26,120. Price drop below 23608 cancels this scenario.
The price of Bitcoin dropped to the level of canceling our upward forecast of $23,608. The fall has stopped, and as long as the price of BTC is above this mark, there is a possibility that the growth in wave 5 will continue and bring the price of BTC to $26120. If Bitcoin drops below $23608, our priority scenario will change.
The rally in Bitcoin has broken through the maximum of 2022, this is a positive signal for the all crypto. Our priority scenario in BTC remains the same. Wave 3 rally could take prices above $26,120. A price drop below $23608 will mean the end of the uptrend and in this case our markup will change.
Bitcoin has broken the trend line on every time frame up to the Weekly. Need to stay north 22k through Monday to close the weekly above trend and buy time. Next task on the list is to avoid the weekly death cross. Hence the desperate push to 26k. There is a load of support at this level with both the 50 and 200 ma present. We've tested support on the trend line...
Bitcoin Long Bitcoin reached the $24671 target we looked at in our last review. The next potential upside target in our priority variant is at 26120$. We allow a pullback, but not below $23608.
After a massive upside breakout of the Bitcoin price, we changed our priority scenario from bearish to bullish. At the moment, we are seeing the completion of a small wave (5), which may end at $24,671. Let's see how BTC behaves at these levels and in the near future we’ll be able to determine the next growth targets for Bitcoin. If the price drops below...
Hi Traders! If we look at Bitcoin in long-term, the weekly chart is still very interesting. Technically, we are approaching an important medium-term resistance area, and if the trend is still bearish, it is possible that a bearish impulse structure will appear and the area around 14,560 should be reached. What both scenarios have in common is an expected...
We have adjusted our priority scenario in Bitcoin. But we still believe that the fall is not over and, most likely, the price of BTC will begin to decline in wave c in the near future. Once we see the first down waves, we can set short-term downside targets. If the price of Bitcoin rises above $22649, our forecast will change.
I am a BTC bull, but I see far too many overly optimistic price projections on tradingview. They seem to draw an exponential channel, instead of the current one, that is curved. While of course it can be that BTC goes out of the current channel, and bursts through the upper resistance, thus reverting back to its original exponential trend, I like to be more...
Let's consider Bitcoin movement in more detail. Our priority variant remains the same, continuation of decrease in a small wave (5) can lead the price of BTC to 20400$, growth of the price above 22098$ cancels this scenario.
Warning to all and prepare for impact because my alert has just been triggered and its not a good thing. There is one indicator that hasn't failed me yet its this on-metric on glassnode. BTCBitcoin: Spent Volume Lifespan 7y-10y This shows me when massive volume of the genesis wallets when there moving about and as you can see in the chart it pin points tops...
I like how bitcoin appears, and the current zone will reveal who is the most powerful in the game. The 20k level already has the interest. If this level fails, we will most likely see a drop to the 17-18k zone. Given that the price may remain over 20k, it is highly possible that it will continue to rise, potentially exceeding 25k in the near future.
Our priority scenario in BTC is a continuation of the decline in wave iv towards $20,400. An increase in the price of Bitcoin above $22,098 cancels this scenario.
On the monthly chart, bitcoin is now moving around the price level of the 0.382 Fibonacci retracement drawn from the 2018 bottom to the all-time high in 2021. Twice before, this level was exactly the bottom for bitcoin; quite soon after—usually within 3 months—it prompted bitcoin to resume its bull run. Tom DeMark Sequential shows a 9 each time at the monthly...
Hello everyone! Perhaps in near term, the bulls will still have the upper hand and could drive many retailers into margin call exposure, thus managing to close out their long positions, but after that, I expect a major corrective structure. The expected rally that we have been following in recent weeks (see chart below), may need at least a consolidation, leaving...
I dont care what moonboys will tell me, i dont believe its the bottom yet. Maybe im wrong (i could be) but i think we are heading down soon again, maybe we visit 24-25k first, but the bigger picture is forming lots of bearish action. Have a great day.