Expect bitcoin to come back to trend line before continuing it's rise up.
Longer stop loss is required while bitcoin is in volatile mode this will ensure your stops are not hit before the re-swing.
Expected down target ( $10k - $10300 Range) If holding here good chance it will rise again.
Lower Estimate ( $9500 - $9800 Range)
Expected Bounce Zone $10377
The exchange rate will continue to follow my analysis. In this case, it is seen that the first fractal movement path is formed. Apparently at 2x ATR. In the event that the track construction rule is unchanged, the southward correction level may be 9500 usd. 16% decrease from current level.
Based on recent price action and a clearer parabolic picture, I've revised my estimate upwards from $30,000 in two years to $50,000 in two years. Nothing in this post is a prediction.
Traders should be very very very careful with this instrument. High volatility is...
Bitcoin (BTCUSD) is now aiming to challenge late June's high which is sitting at ~$13,900.
When I saw yesterday's candle, I looked back at the 24 of June and said, "If Bitcoin closes above $10,900, it will go to $12,000 tomorrow...", I am saying this because I believe we will have another full green candle tomorrow based on how the late June's candles closed....
The exchange rate may continue to rise, but the chance of 20,000 usd target prices is diminishing. I find the copy of the fractal seen in the analysis probable. The target price can be around 17000 usd. This is an additional 74% increase.
Bitcoin (BTCUSD) is showing multiple bearish signals on the 4H time frame.
We are looking at a bearish MACD, line, and signal.
The RSI is also on the bearish side but moving around support.
Before Bitcoin can move any lower, it first needs to break EMA100 ($11077), only if this level can be broken, BTCUSD is to move lower and test the $10,600 - $10,400...
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Actually it is very long and long for explain detail about this one but you can zoom the chart for each...
Mr Trump has strongly disapproved of Bitcoin. The markets couldn't care less. People are holding on to their Bitcoin in a zone of consolidation on the daily time frame.
The consolidation pattern is safe down to around 9500. Bitcoin reached 10 times the recent high price of gold at one stage.
I look at possibilities positive and negative for the future.
I really need to spend more time before publishing....
Here's is my updated chart after tidying it up, adding a few bits and also a tongue in cheek look ahead to $1,000,000 :)
Bitcoin 4 year cycle, self explanatory chart.
Hit my stop loss at 12,100 - watching for a reenter point. BTC is forming into a ABCDE contracting triangle. "C" is my target at this time which is a retest of .5 Fib 10,450 - 10,500. If this breaks down, I'm looking for the last S/R support at 9600 next.