Welcome to my weekly TOP DOWN ANALYSIS. Quick review of what im seen this week in the crypto markets. If you like my content give this analysis a like! You help me a lot and its free. "Always trade what you see, not what you think its going to happen" Namaste.
A correction to around 8100 for now cause the first high retraced more than 78% and it can be expected for the second high to retrace less than 78%. Then a gradual move to around 8500 followed by a correction to around 8100 again. if it were to continue to the downside and create lower lows, 7200 is back on the table. I believe we are about to encounter Wave B...
Looking at the lower timeframes, bitcoin looking pretty toppy, consisting of a high - low - higher high - lower low and then a test of the original high. Very unlikely we will break $6200 first time around, be realistic. Expecting to test the lower untested levels around $4.2k. Not financial advice
A market pump was good to see for once all coins had a small rally because of the SEC headlines stating BITCOIN ETF will eventually get approved. Despite all the noise lets not forget we are still in a BEAR market, & before big money comes in we do need more downfall, which will be manipulated by the big players. Look at the big picture stay away from hype. Once...
Quick TA on Bitcoin. Today, we see the long awaited result of the price squeeze at over the past week. Most people have been expected a break to the upside given the peculiar inverse H&S pattern formed. However, it is evident that despite testing the overhead resistance or neckline for some time, the awaited break to the upside actually rolled over instead. This...
We are showing a strong trendline ranging back from 2015. Each with strong bounces (highlighted) every-time it touches the trend line. Eventually beginning of this year, BTC went parabolic. Looks like we need to retest the trend line for another strong bullish move back up. There is strong support for this down move with the Macro H&S forming at the current...
Very strong short signal this time people. Bulls are finnaly about to get a load of reality. It is what it is and we can profit on this. After a year of waiting we have come to this point were the price can no longer support itself any more. The magic 6k support about to get broken and this time it's gonna be real ugly. targets are 5.5k/5k/down around 3k. We...
12 h chart-btc has 2 bearish patterns, head and shoulders continuation and a rising wedge on the right shoulder with bearish divergence on stoch rsi, sell levels 6740/6800 and 6900/7000 targets 5200 and 4900 (couple of weeks )
Just take a look to previous pattern on May, 23 day of downtrend and -28% drop, price formed a bearish triangle with flat top rising bottom (13 days, pattern inside the circle) and had another drop of -25%, also look at the RSI levels they look just like now, and facing same RSI resistance at 50. A drop of -25% will lead btc to $4930
As per previous analysis on 28 July 2018 we predict that BTC will hit its top channel line and will go down for correction breaking its support line to its next strong support line at 6864 and it is currently on the way towards it. Previous Analysis:
Let me know when this simple channel breaks. Otherwise, seems like bear trend takes us back to at least 3k before turning around. Not financial advice; do your own research; I'm a plebian; etc
Taking a longer term perspective on this one, using the weekly candles, reality sets in as i put on my bear glasses. Historically, BTC saw an almost perfect recovery on the 50MA twice as highlighted in the green boxes, however, printing lower highs, and finally failed its 50MA support in May, resulting in further downward capitulation. For all those bulls out...
As we can see the price fell back under the downtrend line. Sign of Bear trend A weekly 20MA is showing downtrend too (not shown in chart). We can spot possible trend reversal zones. Fib 61.80% zone (7900-7800$) Fib 78.60% zone (7300-7200$) Uptrend line of the triangle. (6800-7000$) Ps: The breakout of 8167$ level (fib 61.80% of major fib retracement) could be a...
Hi traders as you can see, we had a little bounce due to a engulfing bullish candle, but so many bearish signs have been following: - Volume decreasing. The volume have been decreasing since the bounce, every day the volume has been lower than the prior candle volume while price has been going up, which is a quite bearish sign, indicating that the bulls are...
Looking at the Fib overlays, BTC is moving around the .5 and finding resistance at the .618 range in the more immediate trend and in the longer range fib. Applying the Fib time zone we can see that from the formation of the high at Mar 5, the next two segments of the fib trends are a repeat of itself, there are double bottom adams that repeat in zones 1 and 2,...
T.A AND F.A BC IS WEAK WE CAN SEE MORE DIP IN BTC UPO 6800-7200 BTC is bearish in larger time frame Sell a 8200 and BuY 69-7200$