After breaking through resistance at 57k BTC has drifted gradually up while ranging. Price hit 60k briefly and is now coming to back to test support.
A bearish rising wedge has now formed with the characteristic declining volume. The daily/4h charts look ugly while the 1h looks like bulls are struggling, with price hovering around the monthly close for a few...
I was looking at the BTCUSD chart earlier and I noticed a similarity between the last 2 big moves. You can see each part on the chart.
I took the bars pattern tool and applied it to the first bottom and the last bottom. I then scaled it to match the size of the most recent move and overlayed it and... it fits pretty well. And look where it ends? Right on the...
Institutional/smart money/whales/big spenders move the market. They are the ones with the capital to take out a lot of pending orders. The most small guys can do is hope to not stand in front of them.
See 22nd Jan this year. Volume was 143k bitcoin traded this day just on Binance. Price was around 31k, which means that $4,433,000,000 was traded on this day. $4.4...
We saw the same thing on 22nd Feb and I was thinking to wait till the end of that week to confirm the divs then get some sells going however it dumped hours into the first week started, retracing 15K in total
Here same could happen, just need the RSI to tick down and it might shit the bed
Target for drop would be about 52K if the divs was to play out properly, but...
here we have had a clean sweep of the recent lows, taking out longs which will give us more buyers higher up
clean claims of pink and the 0 would be my ideal longs but I need to sleep so will miss my confirmations, F
If these weren't told hold which knowing Aisa could happen, but I think it would be stupid if so we will bounce anywhere from 52K-49K
1D demand zone...
Evident we have 1D bearish divs forming and we have had 7 green 1D candles in a row
This market should be entirely exhausted
2 weeks ago when we found the ATH I knew there was 1W bearish divergence but I didn't think the action of mass selling would take place 3-12 hrs after that weekly close, was waiting till next weekly close for the confirmation to completely...
💡 Trade Idea
📈 XRP/USDT | Sell Limit Order @ 0.4673
🎯 Target Profit 0.4121
🛑 Stop Loss 0.4908
❌ Do not risk more than 1% of your account on each trade
🙂 Good Luck !
The price is in a clear downward movement and posted a correction count toward a strong resistance. the price failed to break it and close above it which led to a double top....
BTC is exhausted in my opinion. There are no real supports. Volume is fleeting. Fib retracement levels (lol). There is no current market hype. Weekly/Monthly EMA20 isn't healthy. Janet Yellen has taken over the treasury and isn't exactly "pro bitcoin". Profit taking. Mild 2017 fractal.
In favour of bitcoin?
People espousing the "USA QE cheques will pump the...
As can be observed the Zigzag correction pattern could be in play for btcusdt, from here which is considered the end of wave C I can expect 5 legs down to complete the zigzag.
Tp1 : 37580
TP4 : 31580
Stop Loss: 42890
Goodluck every one
Highlighted by the red lines you can see major bearish divergence
Will be using this not to short but too find more entry points when this down wave is completed
Waiting for a reaction as support at one of the key levels highlighted...
As you can see the breakout has cleared expectations quite massively
It broke to our expected areas, highlighted by the % change ranges and also the 1.618 fib
However it then flipped these areas to support and has now reached the 2.618 fib
This is a crazy push, the MACD positive cross helped the momentum printing an almost $2000 candle
If it can flip the 2.618 to...
Bitcoin is headed for a small pull back here. The triangle here broke to the downside and the measured move is coming around the CME gap fill at 23800 USD. 4hr supertrend at 25160 is gonna be tested for some short-term support. If it does not hold 24000 is the realistic target to be achieved for bitcoin. Follow mw for more technical analysis on Bitcoin and other cryptos.