On the 1-day timeframe chart long term BTC analysis suggests that BTC finally gains strength. There should be a new rally soon, it wont we similar to the previous where BTC was pumped however it will be a gradual rise within months till the middle of the Autumn. It doesn't look like this time BTC will fail again. There are a much more solid technical and...
Our hero Bitcoin is at its decisive moment since its making another faling wedge reversal on the 1h chart we should expect a rise to 6700 USD where we will be looking for a retracement to 6500 USD. Why I think the blue pill? Well the general trend is quite bullish and a bull run is expected soon so we should see our hero making a breakout soon and RSI is oversold...
So if we follow BTC correction trend from 10k to 5.7K it seems as if it has been forming a falling wedge pattern where we should expect a reversal happening as the downward trend is becoming compressed and a falling wedge reversal pattern indicates that the price should move to the price where it was at the top of the wedge which is 10k value however I would...
Goooood morning! BTC made the lowest low since November 2017 . The drop was very quick but luckily I managed to inform right on the time that BTC shows us bearish criterium and sell your alts (because of altcoins follow up with BTC). Now, when we are taken out the two low points in one day 06.02.2018 low $6000 and 13.06.2017 low $6107 the daily candle close...
Buy: 5700 Sell: 6700-7700-8700-9700-10700
Wyckoff introduces us to the factors of how a ‘wild’ or volatile market thus winds down to an equilibrium (or balance) level between buyers and sellers, and in this time, many traders get bored (look at how Volume is declining). However, once the balance is disrupted, one side of the market gets squeezed as the other jumps in, creating a breakout or range...
Yesterday I said that Candle close above $6500 would confirm bullish price action! - and the 7th attempt was successful to break this level in the 1h chart! After the breakout whales push the price back down to $6320 level to sort out tight stop traders and then price quickly pops up our mentioned resistance which was $6650. At the moment we could see on the...
We left the falling wedge after coming close with the base so a reversal to the start of the wedge is expected which would be 6700 USD price range where if we break 6800 USD resistance we should move to 7k area. Some indicators: Stoch RSI oversold bullish signal Confirmed the falling wedge reversal with the bounce and expected rise to the top Declining volume...
BTCUSD - Bitcoin Price Forecast > 10500$. I think we found the bottom and now we will have some steady impuls triggered by this false break we are facing now. This will lead us to 10500$-12000$-14500$-16500$ during the summer and maybe new ATH this years winter. WARNING: There might be some small and healthy corrections all the way up to the top - do not be...
BTC 15 min chart gives us again mixed signs and mixed price action patterns. At the moment we are in "Rising Wedge" continuation pattern (down). Above we have a very strong area where we'd need a strong bullish candle to push through. However there is a problem - we lack buyers. If some whales decide to push BTC price up, only then we could break through that...
Well, I have been a really bullish trader lately which did not go well.. So what happened yesterday, we dropped from 7600 USD to 6700 USD WHY? All indicators and patterns showing upward movement but it drops more than 10 %. Remember our bullish divergence line? Looking at this trend we should have hit 6900 USD in this correction however we stopped at 6900 USD and...
The price touched the lower edge of ascending channel and can break it down. It should move lower to the Ichi clouds zone which will be a support level around $7430. The volume is decreasing and indicators become bearish. The formation can be interpreted as an ascending wedge, which indicates the emergence of prerequisites for the upcoming downward movement....
So if you followed my yesterday's update, I talked about two scenarios that could take place and the first scenario which I said I believe is going to take place and that is what happened, the price dropped however I was incorrect with the price that it would drop to, still it was a good price to short at 7700 USD. However my prediction was a drop to 7588 USD and...
So we have exited the retracement channel and are looking for our way up. There are 2 scenarios which I can see from this graph. The STOCH RSI is showing overbought so that is an indicator for downward movement however I think the STOCH RSI will relax till midway where it will hit the bottom of the new upward trend line and there we should see the price moving to...
We broke out of the correction trend Bitcoin has started 05/21 however we are still inside the retracement line from 10k so the bull run to 7420 USD this morning was good but we are still in the retracement trend where I still see some room for downward movement but this will be a small downward movement to 7180-7250 USD after which we should be exiting the...
The chart above show what Bitcoin has been doing since we have hit our low in February. The first uptrend finished with a retracement making higher low. Since then we have been on the second uptrend channel which started its retracement (retracement 2). However if to look at the Retracement 2, we retraced to 7900 USD price range making the third higher low,...
So one of the bad news for the past few days is that Bitcoin has left our trend of MACD Compression (look at previous charts for explanation of this trend) however it looks like it is going back again. When I started looking at the general trend since the correction was over and we were on a Bull run, Bitcoin has really been going up only and the correction we...
Hi traders, Here is a price action analysis of Bitcoin. Targets and stop are set clearly after we got the breakout just now. Best of luck, Abdulla