clearly we are in some very bullish territory on the weekly. I only trade on the weekly time frame because I like long term investing strategies over scalping or short term trades. Worrying about what's bitcoin doing tomorrow? Honestly I don't care. I'm interested in long trends, this is where I'm more successful and not so into my head on missing out and making...
This is the realistic view I see BTC/USD price going, taking into account previous price action and how it’s performs relative to the moving averages and support/resistance. I have calculated each price point using percentage increase/decrease and number of days it would likely take to get to these prices. I have made this price as easy to read as possible. Enjoy...
This prediction made possible by transposing a similar pattern from the previous bear market. Assumptions that 1.) the bottom is not in yet at $3,200 and 2.) The next ATH will be at the end of 2021 when everyone is talking about Bitcoin at the holiday family gatherings like in 2017. If the forking of Bitcoin Cash to BSV caused the price of Bitcoin to go fro...
This is the Bitcoin weekly view (BLX chart). We have seen that the 5800$ level acted as a good support until it was tested for the 5th time in november 2018. Now it is acting as huge resistance and it coincides with the 50 Weekly Moving Average, which also acts a resistance. Furthermore we have seen the bearish MA cross happen already (50 crossed down the 100)....
Scenario 1: We drop towards the 200 SMA (around 3.5k) breaking it immediately or forming a triangle like the blue one you can see, getting rejected by the trendline and dropping afterwards... (Red line drawn)(This Scenario becomes more and more likely we are dumping towards the 200 SMA ) Scenario 2: 3150 was the bottom, breaking the long term trendline going...
Bitcoin has two trends quickly coming to a cross roads. Which one will win? Look at this chart and truly ask yourself which trend is stronger right now. To me bulls are giving it a go but sadly it still looks like the bears are still in control. Huge bear flag formed and coming up again really strong long term resistance and that pesky resistance of 4200. If...