Looking at the shape of the flags that we are seeing recently on the bitcoin chart seems to suggest a bull move which is overdue as we already had one of the bullish flag formations, then a repeat of the pattern, the move should come within the next couple of days maximum, so look out for confirmation.
Bitcoin looking bearish since 14-Apr.
Not much downturn since then, and the signal is active, therefore - still a good time to short BTC.
If bitcoin cannot break resistance at $6,800 and trigger a short squeeze, the price could test lower lows of around $5,426 USD in the coming weeks.
This is a worst case scenario in my opinion.
It could take some major news, such as the CBOE Bitcoin ETF being approved by the SEC to set off any earlier bull run.
So far the lowest resistance line of $5590 has not been tested, but the other two above it have. Once this line is tested and if the bears get a strong rejection we can then start to see a come back for the bulls.
My forecast takes into account that the RSI and MACD are both low for bitcoin/USD and we are starting to see a bullish pattern. I expect the bitcoin price to hit the previous resistance level of around $8,950 and we could be seeing this happen within the next 48 hours.
I am looking for any dips in price that will be confirmed by lower RSI and MACD levels again as ...
Idea based solely what I call market player analysis.
lets agree the Crypto space is played by 2 types of players small time retail traders and whales (See b i t c o i n distribution below -source: Bitinfocharts). Cme futures opened 17 Dec 2017 coincidentally it was the top of the bull run. Its not to wild to assume many shorts were purchased by wall street, ...
I applied Fibonacci Retracement to the Elliott Waves (which all follow the rule to my knowledge), with Wave 5 being the exception as I predicted that with that last time BCC got listed on Coinbase. The support and resistance is calculated from the behaviour of the coin in the last few weeks. The timing is based of an average of a-lot, and I mean a-lot, of ...
Place buy limit at 2.20 or 2.15. Avoid sitting with an unfilled order by visually follow the martker and price action, fill manually at market execution if nescecary.
Ripple is an essential part of a healthy crypto portfolio. The recent major corrections on all cryptocurrencies has proven that ripple is a stable and safe coin to invest in. Ripple heald its ...