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...
BTC has recently touched the 9100 Support on the 1D level, issuing a rebound that kept the short term trend on a Descending Triangle. This support action has the potential to turn into a Double Bottom. Since the Bear Cycle bottom at 3200, Bitcoin has respected the Double/ Triple Bottom formation on all instances. As you see on the chart when the Double Bottom was...
This is a simple comparison pointing out the obvious. Bitcoin is close to making a Golden Cross (MA50 crossing over the MA200) on the 3D time-frame, which is generally regarded as a very bullish signal, especially on the long term. In 2016 the very same formation (Golden Cross) resulted in to the start of a new aggressive bullish wave within the Bull Cycle of the...
As the title suggests, Bitcoin is on a critical short term path. The 9600 - 10000 zone will decide whether the price will rise to 12000 or extend the decline to 8500. The 1D Channel Down is dictating the direction and a break to 12000 will be a new Lower High and is possible as the fractals are so far very similar. However, since the 11000 - 11100 4H Resistance...
Bitcoin has touched the 1D MA50 trend line which is so far holding. Last time the price touched (in that case crossed over) the MA50 was in February 17th 2019, at the final stages of the accumulation before the April start of the current parabolic wave. Since then BTC hasn't even come close to testing this MA again. But what does it tell us for the near price...