Many try to explain why Bitcoin has been trading sideways for nearly 3 months stuck between 9100 and 13900. The answer may be simpler than we would expect. Drawing the Fibonacci retracement levels from the December 2017 market top to the December 2018 market bottom we can clearly see that the current consolidation is taking place within the 0.382 - 0.618...
Hello Guys, Party seems over in Bitcoin. Current support 9180 is so important to watch. Bitcoin is about to make a descending triangle pattern in a DAY time frame. Remember descending triangle pattern is a bearish Breakout pattern. I am waiting for my second trade this year on bitmex . Last was opened on 4100 long booked on 11000
I rarely do short term crypto patterns, but this has come across the 4H time frame and I thought I'd share. Bitcoin approached today the lower 4H Support (9,790 - 9,850). Last time the price rebounded off that level, we had a 7 day consolidation within roughly 9,800 - 10,450. So if 9,790 holds, I don't see any reason why we shouldn't repeat this symmetrical...
This is just an interesting pattern that I run too while comparing candle formations in 2019. The current price action resembles two previous patterns both of which delivered +50% gains on their final stage. The pattern has 4 phases before the major rise: * Sell off, where the price is aggressively sold after a peak. Possibly profit taking. * Accumulation,...
Sounds a bit bold but based on a combination of MA crosses and RSI action it is very likely to be true. At the start of the previous Bull Cycle in 2016, following the market's final bottom, Bitcoin made two peaks. One before the Golden Cross (MA50 over MA200) and one after. During that time the RSI hit 90.00 on the first peak and made a Lower High on the next...
In this study I compare Bitcoin's current consolidation around the 1D MA50 with the first two similar consolidation phases at the start of the 2016 Bull Market. All three sequences run through the same price action: The aggressive parabolic run came to an end, the price crossed below the 1D MA50 and BTC started to consolidate within a Triangle pattern around the...
This analysis is based on a very distinct short-term pattern that Bitcoin seems to be following throughout the July - August consolidation. As you see on the chart Bitcoin is trading within a 1D Descending Triangle. Clear support (9100) and a Lower High trend line. That alone calls for a new Lower High target within 11400 - 11800. What stands out though even...
Does this sound a little far fetched from where we currently stand today? Well it also did so when Bitcoin was trading at $10, $100 even $1000. In fact its entire historical price action seems far fetched but it has been trading on solid patterns that never broke down and always delivered. What I want to focus on this time, is the projection of the current...
BTCUSD is still in an Equilibrium I sold for a small profit before the Bears too control.
BTCUSD is bouncing when will it hit the top?
This is just a quick update on Bitcoin's short term price action. The 5H chart is close to printing a Death Cross (EMA50 crossing below the EMA200). Since we are still within a 1D Descending Triangle (meaning Lower Highs with a Support) with 9100 as the 1D Support, there is a strong probability of another contact. This argument becomes stronger as the previous...
Great news for Bitcoin bulls as the Gaussian Channel has entered into green territory for the first time in 270 days. During the previous Bull Cycle this event took place in January 2016 and was accompanied by the new bottom ($365), a price Bitcoin never saw again. What followed was a consolidation phase inside a Triangle pattern and on an Ichimoku squeeze a new...
Based on this simple comparison of Bitcoin's cyclical events, the answer is YES! I have based this idea on the EMA Ribbon seen on the chart, which I applied on the current (2019) and the early phases (2016, 2012) of the 2 previous bull cycles. In both 2016 and 2012 when the price broke the 1W MA50 (blue dotted line), it retested the top of the EMA Ribbon, which...
BTC/USD - 4H Chart Primary 2 (blue) Structure - Double Zig-Zag Zig-Zag in Intermediate (W) (pink) followed by another Zig-Zag in Intermediate (X) (pink). Intermediate (Y) (pink) - Expectations Minor degree ABC (red) sequence. Technicals - Favorable Details - Descending Channel within a Complex Correction - Bearish Divergence at the termination points of...
*Continuation of Part 1 BTC/USD - Daily Chart Primary 2 (blue) Structure - Double Zig-Zag Zig-Zag in Intermediate (W) (pink) followed by another Zig-Zag in Intermediate (X) (pink). Intermediate (Y) (pink) - Expectations Bearish Three-Swings sequence, within a Zig-Zag, 5-3-5. Primary 2 (blue) / Intermediate (Y) (pink) - Termination Points Golden Ratio (61.8%) ...
Bitcoin Trading | Sell & Buy Orders | Elliott Wave (Aug 2019) Bitcoin Trading | Sell & Buy Orders | Elliott Wave Market: Crypto (BTC/USD) Bitcoin Trading has become more and more "attractive" lately, even for those individuals who have no real clues on what it truly is. I remember several times when "rookie crypto" traders all of the sudden jumped into these...
Bitcoin has just completed today the technical Adam and Eve pattern on 4H. As on July 20, the price was again rejected on the MA200 and since the formation is completed it is now seeking direction. It is therefore useful to identify how this pattern has traded in the past on Bitcoin. The last time this pattern emerged was at the end of the most recent 2018 Bear...