Morning guys, Market has reached our predefined retracement target. In fact, we have side by side two K-support areas and for BTC it is crucial to hold above 6400$ to keep bullish sentiment. Otherwise, market will form bearish reversal swing, which could mean deeper retracement, at least or, even downside reversal. So, market right now stands at the point...
Morning everybody, Our previous entry was OK, market has hit first 5500 target which is 1.618 AB-CD on hourly chart. Still we have daily 0.618 AB-CD extension that stands around 6600$. Besides, as BTC has broken rectangle upside, it should pass its width in the same direction and it also points on 6600$. Here we could try to apply the same strategy - trying...
Morning guys, Although longer-term picture still stands bearish, in shorter-term trend has turned bullish and bitcoin has returned in flat consolidation that has been broken last week. This makes possible to reach 6500 first - upper border of consolidation and later 6600 - AB-CD 0.618 target on daily chart. But, to complete this, we need to keep an eye on hourly...
Morning guys, Market almost has hit our minor 6400 COP target that we've mentinoed today on our forum. Still, it is not enough to break bearish context yet. Despite recent upside action, market was not able to return in rectangle consolidation yet, and in fact, stands in range of the collapse that has happened on Monday. Since we have "222" Sell pattern here,...
Morning guys, We keep our long-term bearish view on BTC with 5100 extended target. Meantime, we wide daily AB=CD 6034$ target and it seems that it will be first destination point. Yesterday we've discussed scenarios of short entry and thought that pullback to 5/8 resistance might be good way to sell the rally, but now, on houry chart we have pennant/triangle...
Morning everybody, finally we've got an action on BTC market, which confirms our bearish view. We think that BTC now stands under scrutiny revaluation by investors, and not in positive direction. Fundamentally we do not see any long-term supportive factor for BTC. Technically, weekly chart shows clear signs of bearish dynamic pressure. While MACD trend stands...
Morning everybody, Flat action here gives small space for analysis, but, on daily chart we have two DiNapoli grabbers that suggest taking of recent lows and triangle/pennant consolidation. Since MACD trend shows up, while price mostly stands flat - it points on bearish dynamic pressure. So, it makes us think that downside action could start soon and nearest...
Morning guys, Finally some activity lets us hope on appearing of patterns. We keep our bearish view on bitcoin and still suggest short entry at any attractive level and bearish pattern on the back. Now our attention is on 4H chart. Right now BTC has completed "222" Sell. But, as CD leg of inner AB-CD pattern is a bit faster than AB, we keep hope that price...
Morning guys, BTC shows so weak volatility that it couldn't even complete the minimal upside targets. Still now on 1H chart it is a clear shape of pennant/triangle pattern which potentially is continuation one, i.e. bearish in our case. We still keep our bearish view on BTC and do not see any factors that could support demand for BTC right now. Thus, any...
Greetings everybody, Market shows very lazy price action, so it is very difficult to find some setup there. We think that BTC within few weeks will be driven by doubts of investors. On a background of Tether, Bitfinex and Noble Bank events, lack of regulation and bit white spots in blockchain technology - investors, as new as experienced ones will try to...
Morning, guys It is difficult to comment spaghetti chart of BTC that we have right now, but we'll try. Speaking on larger perspective, since the reason for rally was not fundamentals or economy value of BTC but force-major technical situation, we suggest that chances on drop are better than on upside reversal. Here again an issue of absence of regulation appears...
Morning guys, Yesterday we've said that BTC has no fundamental or technical background for growth and force-major situations that we've got yesterday never lasts too long. Conclusion of our view on Monday was - this spike is good chance to go short at better price level. Price action today doesn't provide us clear patterns that nuances point that BTC looks...
Morning guys, BTC has shown outstanding rally today, that was impossible to foresee as technically as fundamentally. This is force-major issue - Bitfinex has a problems with Noble bank, where major assets stand and Tether has a problems with liquidity then, to keep BTC-USD peg ratio. This has triggered explosive demand for exchange assets that investors hold in...
Morning everybody, This is just minor update to the same idea on BTC. In fact, we keep the same scenario but slightly adjust the price shape. On 4H chart we have bullish engulfing and it suggests 1H action in a shape of AB=CD pattern. As soon as it will be completed, it could be setup to go short. Most probable that it will happen around 3/8 resistance that...
Morning guys, It seems that our bet on collapse yesterday was correct - as soon as market has reached 3/8 Fib level drop has happened. Now market has completed some intraday targets. It means that within few hours minor pullback is possible, but we keep our bearish sentiment and look for 5900$ target on BTC. So, 3/8 retracement again, as yesterday is an area...
Greetings, It seems our bet on collapse yesterday was correct and BTC indeed has reached lower border of the triangle. This action has completed AB=CD leg and gives us 1H "222" Buy pattern. Still, we are not exciting on it too much. Recent collapse was fast and we treat this "222" just as background for minor pullback. Most probable is just 3/8 retracement to...
Morning guys, Yesterday we've presented our longer-term view on BTC (partially it was placed here, on Trading View, partially on our FPA site, just follow signature link to read it) and we treat any approach to 6900-7000$ as opportunity to go short. Today BTC has formed good "222" Sell pattern. We're focused on neckline of our former H&S pattern. Downside...
Morning guys, BTC shows very narrow price action, activity has dropped significantly, so we do not need even any update on daily and 4H analysis. Today is NFP release and preliminary balance stands not in favor of BTC as market mostly expects to get good numbers. Anyway, BTC stands tight and is forming something like reverse H&S on 1H chart. Whatever it will...