Bitcoin is yet to be back in it's 60s on a weekly timeframe after massive liquidity moved to lower zones (toward the middle line of Bollinger Bands). We are not keeping an eye on potential further movement to lower zones, but the current weekly opening seems promising only for bulls. Despite that, we are below the major resistance zone, so we do not see any...
Hello, traders and investors!🫶 I'm glad to welcome You to my page! Today I wanna share with You a possible key to understanding Bitcoin's movements. In the world of finance, there are often questions about why asset prices behave the way they do. Some seem chaotic and unpredictable, but there is always a certain logic behind them, the main thing is to want to see...
BTC formed a descending triangle, Pair is still in Downtrend. Lets see what's next. this is just an analysis not a trade setup.
As described in the video, I think there are break-out sellers and those who sold the supply zone. Trapped in the shorts and market will most likely not give a pullback down until it liquidates them hence I think the inverted supply zone is now support and we are going to hit the buy side this week. Always follow these rules - Accumulation / Manipulation /...
Morning folks, So, everything goes with the plan, although the upside bounce that we've discussed is stronger than we thought. It means that bearish long-term patterns are still valid, say on monthly chart, we do not consider short entry right now. Vice versa, there are a few bullish patterns might be formed intraday. First is reverse H&S with 67K neckline,...
Following a breakdown below $57,000, Bitcoin (BTCUSD) rebounded last week in a broad market risk-on move. Currently, it trades near the $64,000 price tag, situated slightly above the 20-day SMA, which now acts as a critical support level; a failure to hold ground above this level will be concerning, while a success could foreshadow continuation higher. With that...
As can be seen in the 15 minute chart, the volume profile point of control is centred in the middle of the Active Trading Range and price is building 'cause' in Phase B. At this point we have both a spring and price subsequently trading higher in Phase B therefore the balance of trading so far in this phase is neutral and there are no clear indicators of...
Hello, Trade identification is the process through which you are able to identify setups that can be actioned on in the markets. For this example, I shall be using the BTCUSD chart to chant my path as I look for tradeable setups. 1: Structure drawing Identifying the structure of trades is very key since it creates a sense of knowing where the market is at from...
#WyckoffMethod #BTCUSDForecast Following on from yesterday's trend analysis the reaccumulation trading range on BTCUSD is beginning to take shape (most prominently) on the 15 minute chart (30 minute chart shown) where the POC is within the centre of the trading range. Irrespective the 30 minute POC (shown) is acting as support confirming the bias of the trading...
LATEST May 6 2024 - Forecast BTC EXTRAP CHANGED AT 2AM - more bullish now
Morning guys, So it seems we've correctly reversed our position down from 62K area. Today we increase the scale a bit and take a look at daily chart. Indeed BTC has broken triangle down as we've suggested. But it is more important that it also has broken K-support level and only oversold stops the downside continuation. This makes us to consider next downside...
I expect it will continue within this channel until the next euphoric breakout of the topside - which does not preclude wicks through the lower channel line as we've just had, or full temporary breakdowns to a lower support, prior to the blowoff top.
- DAY is swing bullish => current is pullback dow The recovery wave of the day is the down wave of frame 4 hour The down wave of the daily timeframe ended when the 4-hour chart turned bullish. - 4H is swing bearish => current is pullback up.
Because of the low volume i expect bitcoin to hit about 67000 and drop, which is about 23% above the most recent 8000 drop that started at 64700. From there several possibilities. It retraces down to between 59000-61000 and takes off upwards. Or it hits that price range (59000-61000) makes a small correction up for another move down, to break 54000...
May 6 2024 - Forecast "back and to the left.... ..back...and to the left" Yesterday's forecast was was broken through (up) - wouldn't mind seeing my forecast be wrong like that again
Daily Forecast. Weatherman not responsible. :P Sideways movement testing local support zones.
Hello everyone, what are your thoughts on BTCUSD? Taking a close look at the technical chart, BTCUSD is currently forming a cup and handle pattern, and the price continues to follow an upward trajectory as per the long-term trend. It is anticipated that in the near future, the price could reach $90,000 as it approaches the ascending trendline formed by the...