We have filled the CME gap around the $8500 area, as you can see the lower trendline in red supports this theory. The pullback must be over, you can enter now with a tight stop loss somewhere below the lower trendline. I will be staying in this long position for a large amount of time. The volume oscillator shows me that sell (short) volume has decreased, I will...
We can see that following the recent pullback, we are back in the rising channel.
The correction followed by the dumps was a necessary process to liquidated traders on high leverage. Whales mass dumping (short) on high leverage.
We should be closely watching this chart to see how it moves, now is a good time to enter long and set your stop loss fairly tight. The...
So in my analysis I am predicting a cup and handle formation on the 4H, once we see the price break past the resistance line you will start seeing a nice breakout. If we go below the red lines we might be heading back towards 9800-9900 range which would suck,
10k is looking super strong right now though so prepare for what comes next.
Look for price action to...
The MACD is ticking upward on the Weekly chart, we thought BTC would be oversold today which it seemed; As soon as the Altcoins increase in price it seems Bitcoin follows. This year is the ' BTC Halving', do yourselves a favour and invest.
Bitcoin is showing some bearish momentum with potential to move down to $7128. If price does move to this price point, we may see price even trade lower after a retracement.
SL - 8118.16
TP 1- 7128.57
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As you can see, BTC has gained a lot of selling pressure over the last few days. Perhaps due to bigger participants taking profits after we hit the psychological number of 9,000.
The ADX shows buyers are starting to gain dominance, indicated by the red line crossing the green line. And volatility is starting to pick up.
Furthermore, i have taken a previous move...
We have 3 key areas or zones marked out on the chart, BTC responds to technical very well so if you can find key zones on your charts you will be laughing all the way to the bank ( well your crypto wallet as banks don't work with BTC ) ;p haha.
You can see our support zone ( red box ) has previously been used many times before and most recently price on Friday...
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I expect a possible $3100 BTC before shorts dump entirely, but this will likely happen fast.
In the short term (7-9th december) I'm expecting a minor BTC retest to 3.6k, but next week, or even this weekend, once $3-3.4k BTC is fulfilled, prepare for a bullish BTC.
It is imperative in my opinion for bitcoin to respect this all time trend line, we are approaching it in the near future. I think the price could dip further in the next few weeks, but then a new bull run will begin.
Let me know what you think in the comments.
Like this idea if you agree!
We have a potential for a triple bottom setup here. This is providing we HOLD 6.8k-7k support level and bounce from there. This will give me the following targets:
Short term 7.8k
Medium term target 9k
Long term targets 10k & 12.5k
If we do not hold 6.8k-7k support levels then expect to test 6.5k and maybe even 5.5k over the coming months.
As we have retraced so far how much further do you think this will go who knows i believe the bottom
was going to be $7600 and my ultimate bearish was set for $7200 maximum, if you look at the charts
you can see some one has sold a lot of BTC and bought back in possibly waiting to see if we bounce
from this point but there was a massive spike in volume..