Hey folks, Bitcoin price entered an institutional ranging (consolidation) phase right after the $10k dump. My game-plan is as follows: Assuming the demand area will hold and buyers will get tempted to buy at the demand price, then I expect BTC to reach 57,200 mark and that's where I'm setting my first profit target. If the price manages to break above the 52.2k...
Upward channel, with MACD and RSI showing bullish trend. Predicting that price stays within top half of channel, until price reaches 1.6 Fibonacci level, intersecting upper channel support line - late Friday. This will be just over $50K. Price will then bounce off upper channel support, and go mostly horizontal, or slight, dip until mid-channel is reached (red...
For this week is market rotation is very probable around ATH.
Yes guys BTC and the whole crypto market is moving upwards smoothly right now Lots of coins closed above key levels on the daily, XLM, Link, Eth and BTC for example causing buyers to enter BTC has hit the 3.618 fib retracement which was summoned from a recent breakout trade. Not much else to use to create levels of SR at these price discovery levels If BTC can...
Triangular corrective waves have been created. We have to wait for the breakout.
Drawing on the price chart, this bearish pennant emerged. The fact is that the flag pole coincides exactly with the price target. Still a -13%. Posterity will judge.
Today we're going to look into the mid and long term view to get a good idea of what is going to happen and when can we expect it to happen. One thing to note is that more money has been coming into crypto and it has stayed in, about 14 billion to be precise since the weekend and BTC keeps ranging which means that this influx of capital is being eaten by alts as...
We may be starting to form a temporary bottom. However, where BTC is resting right now is in the middle of nowhere. Although it is strong support it is also in between the 50% and 61.8 retracement. BTC favors going to the 61.8 before moving back up. To be clear this Fibo scale you see on my chart is for the entire 2019 move which seems to be what the Algos are...
Let's keep learning The 12H is not my favorite timeframe, but the action is happening there at this point. The first step to doing successful TA is to get your trendlines, support and resistance lines right and if you do it will give you the confidence needed to make the important decisions. Also, trendlines serve as a leading and lagging measure. When a...