💎Technical Analysis Summary💎 BTC/USDT -Bitcoin has been moving sideways for the past few weeks already -Respecting both the resistance area around 22k dollars and support at 19k dollars -As a result, Altcoins are unable to sustain a good upside rally to due this type of condition -Previous consolidation last May to June has been a bearish downside move -Will...
Pivotal points line up nicely with these two circles drawn during the early bullish phase of the market and the later bullish phase of the market We are in a comparable point to that in the first blue circle Previous bottoms line up nicely with 3.618 and 4.236 of the first bullish circle drawn
It can be seen on this chart that the horizontal lines of support align with previous secondary bull market tops (in red) The hammer situation are comparable points What is really interesting though is that the Gaussian Channel structure on this 3D chart is very very similar to that of the pre 2016 bear market This may result in a low for BTC at around 13 - 14K...
💎Technical Analysis Summary💎 BTC/USDT -Bitcoin bounces from 18k dollar region or previous trading action on candle body closed -But faces rejection at EMA-23 with a long red wick candle with 7+ hours remaining before closing -If we are going to plot a trendline we can see a potential triangle pattern until the 2nd week of July -We might expect BTC to play...
I exited all of my crypto positions last night after we lost support at $39.3k. We really needed a bounce there for the structure to hold up and bounce higher. Now we've just printed new lower lows. The reason for exiting here is because now I think there's more risk than reward, so I'd rather sit and watch things play out than have my money sitting in the market...
💎Technical Analysis Summary💎 BTC/USDT -Bitcoin is back at its daily key support area today -In terms of price action, this is technically bad because the support gets weaker -We can see this area has been rested multiple times since early May or a few weeks back -Now, the bulls are trying to defend this region again and the bears can look for another...
💎Technical Analysis Summary💎 BTC/USDT -Bitcoin has been trading sideways for the past two weeks now -Short term resistance at 31k dollars and support at 28k dollars -Using the EMA19, the price respected this resistance from April 20 until it breaks support -If the previous history repeats itself, a potential rejection and a daily bear flag might be in...
💎Technical Analysis Summary💎 BTC/USD -Two consecutive red monthly candles for Bitcoin as the major support area are being tested -Though we can see a buying movement by the bulls around 25k dollars pushing the price up almost 20% -But we still have 17 days left before this monthly candle closes so we can still expect a lot of volatilities -As the bears continue...
💎Technical Analysis Summary💎 BTC/USDT -Another struggling 1st week of the month for the crypto space -Bitcoin failed to hold the 3D 200-Moving Average last week -And failed to regain above 40k level and turns out new resistance -Majority of the altcoin space is in bad shape or has broken key support levels -It has been a hard downward move for BTC since March...
💎Technical Analysis Summary💎 BTC/USDT -Bitcoin broke the 44k dollar support area on the 2nd retest attempt -The price came down fast and barely touches the 50D Moving Average -Now, this 42k-41k area is the mid-level of support with the confluence of the 50D-MA -I got stopped out of my trades using trailing stops and some at a small loss -Alright, scenario...
💎Technical Analysis Summary💎 BTC/USDT -Finally, the month of March is already completed and BTC closed above 45k dollars -Technically, this is a good sign in the short term trading for the crypto space -Because we have seen many Altcoins have performed very well these past few days -Looking at the EMA indicators, BTC has been respecting this since July 2021,...
Pretty much the same chart as I posted last time, just updating thoughts and timing a little bit now that price action has played out more. I'm fairly confident that this move down right here will mark the short term bottom. I'm thinking that we could get a strong bounce up to the low to mid $50k range ($51k-56k) as the next move to confirm resistance, which...
💎Technical Analysis Summary💎 BTC/USDT -Finally, after weeks of sideways trading action -Bitcoin is now showing new signs of strength in terms of price action -With a series of mini higher lows and a flat resistance at 45k dollars -If BTC can hold above 40-41k in the coming days or weeks -There is a high probability to retest the horizontal resistance again -And...
💎Technical Analysis Summary💎 BTC/USDT -Not much update for Bitcoin today, as we can see the same price action -Bulls keeps defending the 3D 200-Moving Average as dynamic support -With respect to horizontal support around 36k-38k dollar -Many altcoins are following the sideways price action of Bitcoin -Which gives us a choppy signal on the short term...
As price hits the middle of the channel, this analysis shows how price still has the potential to extend from here to the top, as it has done in the past (indicated with green) We are in a massive channel, right now as price is close to the major lower trend line , an entry point arises Some of my older posts, below Show a large parabola, this line is...
💎Technical Analysis Summary💎 BTC/USDT -Bitcoin still respecting the 3D 200-Moving Average for the 3rd time -The bulls have managed to keep the price above this important dynamic support -We can see the bulls and bears are trading within the range of 35k-45k dollars -If this trading battle continues, mostly is to test again the top resistance at 45k -The Bitcoin...
💎Technical Analysis Summary💎 BTC/USDT -Bitcoin is currently testing the monthly support zone -Also, the EMA19 which acted support since July 2021 is being tested -We are just in the 1st week of trading this month of March -So we can still expect a lot of volatility and key areas to be tested -It is still too early to say but the worst-case scenario is if the...
Current thoughts on the mind when looking at the BLX chart, price has reached a weird place in its constant evolution The most right red dotted line is where the bear move should continue to if we have experienced the top, but that would violate the BLX Channel indicator using I would like to see bull continuation personally