Given that: For the time being, Bitcoin (BTC) is well correlated with traditional markets. What this chart shows me: Bitcornz on the Weekly TF. 3 major drops since ATH. All the bullish rallies and comebacks to date have yet to really break free of the downtrend, however it's above it longer now the previous times. it's like watching an asset dance on a knife...
✴️ BTC Update The downside risk was present and so we saw a drop to 6470! However, the BTC formed a Swing Failure Pattern around its ~6600 support zone and a potential bullish divergence was visible within 4 hours, so I closed the short position around 6680 this morning. This was just before the BTC pumped almost $300 to trade now around 6900. What the...
✴️ BTC Update #BTC_Update What the hell's that BTC doing? We've been rejected twice under the 7450, which is pretty bearish, but still no massive drop. The daily technical situation is still positive while the technical indicators are negative on the 4h horizon. On the 1h timeframe, the WaveTrend has just given a buy signal, which does not rule out a short-term...
Hi Guys, I was in doubt till February 2020 when bitcoin was trading above $7300 and touched $10500 for the 3d time, after when BTC dropped below $7300 I was sure that it will touch near $5500 (200 Weekly Moving Average) and next it went down from that level as well and touched 3850 and on some exchanges it touched $3770 as well. Now based on my analysis and...
Potential falling Channel / Wedge could signal bounce soon
$BTC Thoughts: Bullish as long as we're trending above the range EQ, targeting 9127.5 on this move up. Invalidation on a daily close beneath 8255.
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Relative Strength Index: RSI is at a healthy 55 points at the time of writing. It’s coming down from a peak of 80 points a few hours ago. Looking at RSI’s behavior the past couple days, we can see it has been out of bounds only 3 times. That’s a signal that the market is relatively stable, and may continue trading sideways. Bollinger Bands: Looking at the BBs,...
Currency Pair: BTCUSD Time Frame: 1W Phase 1: Buy 3810 Tp1 : 4100 Tp2 : 4900 Phase 2: Buy 1200-1500-1800 Tp : 4400-6000-10000-19000