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7 Times in this region and each time we have gone in either direction, RSI looks like we could be overbought recently and we could be ready to test the 20 & 50MA (Yellow Box) - Lets keep an eye out on this but i do believe a retest is the most possible outcome.
As BTC falls, we evaluate the levels we could be seeing, 50MA acting as resistance and looking to reach the Red Zone after we break the Green zone coming up. MACD has crossed aggressively to the downside.
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!
9th October breakout to around $8,000.
BTC Found support at $6550 and is holding well, If we breach $6500 we could be heading towards $6200 region, but expected to keep the curve moving upwards and possible retest of $6750 (Purple Line) which could send us back down slightly but the curve could make us push on towards $6900 (Green Box)....
If we drop towards the $6500 region I would get out of any ...
BTC volume drying up signing lose of interest in the market which is typical of bottoms. where retail investors are disillusioned and deluded. they leave the market giving big investor time to accumulate before start a sharp move which will hit news and create FOMO in old and new retail investors. The question is what it would be more lucrative for big investors ...
For around 12th October hitting prices above $8,800 USD. This is based on the new wicks that broke the previous pattern slightly.
As we can see from the various ROC (9,12,18) the indicator has been really useful to spot the moves up and down, respectively whether it was breaking a trend resistance or support. we could have timely short the top in december and we will probably be able to timely spot the bottom. It looks like BTC is breaking the resistance bouncing from the support (6150). My ...
It looks like the price is in a falling wedge type of pattern right now, and the breakout could go to the upside giving bitcoin huge potential for approaching $10,000 USD again. Let me know what you think in the comments, like the idea if you agree, and follow me for more price predictions in the future!
One of the most simple, basic and effective trend analysis is the volume/trend analysis. BTC shows the typical and strong exhaustion phase in late 2017, with price surging quickly and culminating in a parabolic blow off of equal proportion (volume). it can be appreciate the the similar action back in 2014, which culminated in a massive blow off followed by selling ...
I'm long average entry around $6600 - here's the kind of thing I'm expecting. Invalidated if low at C is taken out. Will likely manually close before that though. $BTC #Bitcoin
If we see a repeat of the short squeeze that happened last time, the bitcoin price could skyrocket to around $9,500 in the coming days.
Shorts are at a high level right now, and what normally follows is an increase in bitcoin price.
Bitcoin is currently in a holding pattern, between the 200MA and previous resistance-turned-support. As long as we hold this support, we are poised to go higher.
First target is the 9500, then around 11000.
The most bullish scenario would be to consolidate here for a day or two, pop above the 200MA, which would then act as support on the way up to 11k.
Last 8 weeks of retreat have shown strong pools of accumalation.
First leg away from bottom prepares for secondary move through into 9800 - 14000 region.
I just wanted to put this idea out there. Who knows what the future could be for bitcoin. This is a projection of the previous long term lows and highs and the wave continuation.
Using wave analysis of the 12 month moving average I've made this prediction about what the bitcoin price could reach in 2020 if the wave pattern continues.
There is also the raising cost of producing bitcoin, the fact that there is a limited amount of bitcoin, and the difficulty level of mining bitcoin increasing with time. All these things are likely in my ...
We broke out of the previous pennant and moved upwards, however we have encountered alot of resistance around the 6800 mark already.
What looks like to be playing out at the moment is a rising wedge, which of course is a bearish pattern. IF this plays out as a rising wedge then we could touch 6900, which is also the falling resistance trend from 9k. This ...