As I have been saying for the past 2 months, bitcoin is predicted to create a fake out double top on the weekly timeframe and crash to 15-20k. For the past 2 months we have barely moved from the highs and now we just triggered a second major bear signal. We will most likely get bounces off the horizontal lines I have drawn so when price looks to be rallying that...
I was warned about posting this - Expect extreme volatility at open Monday - Leading to investors to pour in from crypto and other tech stocks - expect nothing less than 6$ - MEDIA WILL TELL YOU IT'S OVER-VALUED HOWEVER THIS IS NOT TRUE. Expect this IPO to effect the Crypto Markets (DATA FROZEN?) NASDAQ:COIN INDEX:BTCUSD TVC:SPX CAPITALCOM:UK100 ...
Considering BTC smashed through the previous support level of 38.5k, a 1 month view of BTC movement & a fib retrace would suggest next level of support (61% on fib) is 36k.... lets see what happens! Certainly still stand my previous post about expecting a very bumpy ride this week, hopefully as we edge into April, the bull volumes start to take over. Let me know...
CLEAN AND SIMPLE TECHNICAL ANALYSIS. FOLLOWING THE PRICE ACTION A REVERSAL IN TREND SEEMS LIKE IT IS IN PLAY. LH AND LL WERE CREATED. A BREAK OF THE LH SIGNNALED A REVERSAL IN TREND TO ME. PRICE PULLED BACK AND CREATED A DB SIGNALLING WE WERE ABOUT TO SEE UPSIDE MOVEMENT. WE CAN NOW SEE PRICE IS PUSHING UP TO BREAK THE HH IT CREATED BEFORE THE DB. LET'S SEE HOW...
As previously mentioned I am expecting a drop to 15-20k before buying again. In the meantime I expect all major bounces to be sold off. I am not selling, instead I am waiting at my 15-20k level to add to my position. However for those that are interested in the short side here is a quick breakdown of what I see.
A SIMPLE IDEA BASED ON PRICE ACTION. ANYTHING BELOW IS STILL BEARISH. IF WE SEE A BREAK ABOVE ILL BE LOOKING FOR A RETEST OF THE LOWER HIGH BEFORE SEEKING A LONG POSITION
As shared earlier I noticed the price action for BTC looked pretty bearish. Potential for more downside but all in all spot on trade #btcusd #btcgbp #btcshort #cryptocurrency
Btc technical analysis. Looking for more downside based on how market structure is forming. Looking for rejections from highlighted zone. Looking for lows of atleast $55000 area. #btcusd #btcgbp
This looks like we might have our weekly double top fake out. Volume decreasing as price moves higher. Historical analogue points to bear market. Price has gone parabolic, parabolic moves NEVER last. If we keep breaking lower the area to buy back in is 15-20k range where a weekly inverse head and shoulders should form.
Bitcoin is rallying on low volume, extremely low volume in fact. This is a clear divergence between price and what is actually going on. Like I said previously I believe we will see 15K this year. Yes we can create a fakeout of the highs, yes we can remain at these high levels for the rest of the month but at some point when price starts to turn and everyone...
Selling volume decreasing. Can BTC turn this resistance into support!?
Another observation happening on the weekly right now. Price is rallying on fumes (low volume), unless some high volume comes in soon this could get nasty. Like I previously mentioned weekly double top or weekly fakeout double top are still possible and is what we want to see. Target is 15k-20k where we will create a weekly inverse head and shoulders pattern...
Here you can see the last time the price action plummeted to the 21MA on the daily chart. That was the start of a descending triangle pattern. I am watching for the price to hold above the 21 MA, if not then some further downside is on the cards. Structure needs to hold the recent lows of £34-35k or we could see a drop to major support / previous resistance /...
I am waiting for the double top I talked about previously, could this be it? I don't know right now. I have no intentions of buying or selling right now. IF price forms a double top fakeout here and drops then there will be an inverse head and shoulders pattern at 15k. IF price rallies from here then the short will not happen until 80-100k, in which...
Bitcoins flashcrash on January 11th 2021 was a 31% drop, the current one is the same length, if it holds at the current support level and maintains the 4 hour EMA then retracing the same path, extended into the future puts it at the current price in the next couple of weeks, before a push towards the £50,000 mark at the start of April just before the new tax...
OK, so to be clear in order for us to be officially in the bear market we need to create a double top on the weekly. A double top where the second peak breaks and fakes out the high of the first peak. (I will update when that actually happens). I appear to have been calling the short a little early. We are now about to begin the final bull move before a huge...