With shorts this low and price steadily creeping up, I expect a large price dump in the coming days. Following previous trends with shorts in this range has lead to $1000+ price drops throughout May, August and September.
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.
As the weekly frame looks extremely bearish, Major supports at $4900 Region and $3900 Region also. 200MA stands around $3100 which could also make a retest then we should see a huge bounce of this and we can finally start our Bull Run.
BTC is heading towards $5500, 2018 has seen BTC lose a lot of value and as we start to see the Bottom close, one more downside push could see us then move on to new highs. 50 & 20MA pushing price lower and volume has dropped in the last few days. As we head into the end of 2018, we will surely see BTC drop further to more zones where accumulation is inevitable.
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.
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.
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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.
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 ...
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 ...
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.