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.
The RSI level is in the overbought area at the moment so I expect a small cool off, followed by resumption of the bull move. This means there could be a small opportunity to short the bitcoin price over the next few hours.
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.
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 ...
Looking at a longer term chart.
This descending triangle could break. If that happens then the technical target based on the length of the left side of the pattern gives a price of 1800.
As it happens the last major low is at 1826 so it does tie in quite nicely.
However, is is possible that it break out of the pattern upwards. This would be extremely bullish, ...
BTCUSD pair is in a wedge/triangle, the volume is gradually decreasing and the paid is becoming alot less volatile. My prediction is that this will carry on for some time and we may have a bull run again in november/january time.
$8500 has been a tough resistance level multiple times during the last few days, we now have what I regard as a bearish wedge forming which could play out to $8500. As such when combining both, in the short term I see BTC dropping to the next widely regarded support circa $7700.
$7400 shouldn't surprise anyone, 20-40% corrections are commonplace in BTC price history.
Failure to the drive into Ichimoku Cloud resistance, the Swing High and failure of 9 & 20 EMA support prompted this chart, and although most know me as a bull we can't let our bias get in the way of our technical analysis.
Measuring from the lowest body of the 2014 ...
Bit of an alternative analysis here, but how many fucking times have we seen people charting price action eh.
Looking at MACD we get some fairly resounding information here which help us predict some possible future price movements.
We can see our moving averages have have respected our fib levels and are converging just perfectly in time here on our daily ...
Until we find support on the $9100, the bears will continue to talk about 4.5 before they consider that 8, 7, 6 & 5k also exist...
Daily 55 EMA Support at $8400
Currently leaning bearish and considering how low we might go.
BTC my targets, we will hit the previous monthly order block, as this was the last previous bearish month since the massive bull run. I personally think we will reach this area as the previous one had been filled in since. As illustrated below.
This also means that on the daily time frame we can see that this is the mean ...
Shorts at ATH, although this is relative to the volume, the ratio of shorts to longs are closing.
Testing some new ideas with div on the 'Finex short chart and there is bearish div at the ATH so presuming this amount of shorts will go down which would mean a bounce in BTC?
This falling wedge ...