With the ill timed and expensive #hashwars happening and two $btc billionaire selling their Bitcoin and Bitcoin cash to fund it one can clearly see this isn't a normal market correction. So where do we see this bottom?
The strong support we have gained over the year between 5800 and 6200 has broken, as has the 5000 to 4800 support levels.
We have strong support ...
Currently working on a project so not around for a lot.. Bitcoin is looking good now, it looks as if we retraced and accumulated enough for another pump. My comment on the abnormal pump Bitcoin did lately would be that when Bitcoin started rising last year most of its waves were this abnormal too, so this may be the way Bitcoin goes up when we are in a ...
Looking at the shape of the flags that we are seeing recently on the bitcoin chart seems to suggest a bull move which is overdue as we already had one of the bullish flag formations, then a repeat of the pattern, the move should come within the next couple of days maximum, so look out for confirmation.
It is imperative in my opinion for bitcoin to respect this all time trend line, we are approaching it in the near future. I think the price could dip further in the next few weeks, but then a new bull run will begin.
Let me know what you think in the comments.
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BTC has a major resistance at the 38% Fib, 50MA is a possible spike towards and a retrace down towards ¢6200. Major manipulation on the 1HR chart. Still trading in the box region and until we break either way, no trade on BTC.
It looks like the price is in a falling wedge type of pattern right now, and the breakout could go to the upside giving bitcoin huge potential for approaching $10,000 USD again. Let me know what you think in the comments, like the idea if you agree, and follow me for more price predictions in the future!
If bitcoin cannot break resistance at $6,800 and trigger a short squeeze, the price could test lower lows of around $5,426 USD in the coming weeks.
This is a worst case scenario in my opinion.
It could take some major news, such as the CBOE Bitcoin ETF being approved by the SEC to set off any earlier bull run.
While the price is above the support 4966.90, resumption of the uptrend is expected.
We make sure when the resistance at 8200.00 breaks.
If the support at 4966.90 is broken, the short-term forecast -resumption of the uptrend- will be invalid.
The RSI bounced from the support #1 at 26 and it prevented the price from more ...
Looking at a longer term chart.
This descending triangle could break. If that happens then the technical target based on the length of the left side of the pattern gives a price of 1800.
As it happens the last major low is at 1826 so it does tie in quite nicely.
However, is is possible that it break out of the pattern upwards. This would be extremely bullish, ...
Using wave analysis of the 12 month moving average I've made this prediction about what the bitcoin price could reach in 2020 if the wave pattern continues.
There is also the raising cost of producing bitcoin, the fact that there is a limited amount of bitcoin, and the difficulty level of mining bitcoin increasing with time. All these things are likely in my ...
So far the lowest resistance line of $5590 has not been tested, but the other two above it have. Once this line is tested and if the bears get a strong rejection we can then start to see a come back for the bulls.
There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.
. The RSI bounced from the support #1 at 26 and it prevented the price from more losses.
. The RSI downtrend #2 is broken, so the probability of resumption of uptrend is increased.
. Price is below WEMA21, if price rises ...
Bitcoin analysis based on @CarpeNoctom @bravenewcoin article. C-clamp of 15% with bull div looking very similar to April's 16% C-clamp with bull div. Close above high volume $6800 level suggests we see $7800-$8200 based on confluence of Kijun + 89, 144 and 233 EMA.