BTC looks very weak and wouldnt be surprised to see it go back down to 7860, I am looking for shorts in the box shown on the chart, even shorts at 8860 would be nice but Im not sure if price will go that high before dropping, however breaks above that would invalid the trade and probably signify some turn in the trend
Will Bitcoin (BTCUSD) produce a higher high, higher low or lower low?
The signals right now are pointing to a bounce (short-term) and straight to a higher high... These signals can change with time.
Everything is mapped out on the chart above.
Bitcoin can move higher but if support is broken (blue dashed line) the above signals are invalidated and can move...
Bitcoin (XBTUSD) is likely moving higher now... but why?
On the chart above, take a look at the trend line... This trendline worked as a strong resistance pushing Bitcoins price down multiple times.
After it was broken, Bitcoin challenged the next resistance and came back down to retest the trendline... The trendline held successfully and Bitcoin is now showing...
In the past two days, I have seen a lot of opinions, which define this as "triangular" arrangement (wedge arrangement). Moreover, I keep revising the lower edge. If I follow this analysis, there will be many problems. In fact, the judgment of whether this is a "triangle" arrangement or a box depends mainly on the judgment of point b. if point B is too low, the...
A pretty simple short trade has come up in my opinion, this breakout from the marked blue consolidation zone has got us above 75 RSI points on the 15m and 1h chart, and as you can see we are far extended above the 15m Kumo Cloud (which consistently acts as a price action magnet)
Looking for at least a 1% drop down from USD 9050
Possible that we get rejected at this cloud resistance, if so then I expect sideways movement across the bottom of the cloud before further downside. Topping out on RSI also.
If we can break into the cloud, we will most likely get rejected by the 50% Fib line which coincides with top of cloud resistance.