Patiently waiting for a breakout. Breaking towards the upper side could start the trend, However breaking lower could be the last led down to complete Y wave.
eth finally had the healthy pullback! this looks like a zigzag 5-3-5.
This correction could be over if we break 78.60 fibs level & close a weekly candle above, but till then I feel like we could face a bigger correction! As I mentioned I feel like bitcoin will take few months to start making new ATH. More updates on my Twitter (ASMILLIONAIRE)
The first thing that i like is the fact that this down move looks like a 3 wave move, that suggests it’s a counter trend move and that this is not the trend, just a ABC correction going against the dominant trend. as long as $DOGE Stays above 78.60 and close a daily candle above 61.80 then that’s bullish. might see some choppy action or likely to go sideways from...
If we are in a corrective wave, we could see a strong bounce with high volume, however If we break lower then that could be a short term bearish to the 21 weekly EMA.
After the tweet from Elon Musk we had a strong push towards the ATH but bears were in control and pushed the price back down, however if we can stay above the Red line that’s bullish but if we break blow the Red line then that bearish.
If Bitcoin hits the top of trend line and fail, we might see a short pull back to the red zone, although if breaks the top trend line we might see a push all the way to the ATH (Green zone)
Until we don’t break our new ATH support which is the blue line I’ll be looking for Longs, however if we break down and test the resistance then I’ll be more towards the short side back to the support. Looking at MACD & RSI I see more bearish but I’ll be mostly concentrating on the support line.
If we get a pullback to some of the key levels, to confirm it’s a bearish continuation I would like to see a hanging man candle, shooting star or bearish engulfing. The content covered in this chart is NOT to be considered as investment advice. I’m NOT a financial adviser. These are my own personal and speculative opinions, ideas, theories, charts, technical...
Morning traders! Today i want to share with you this simple way to look at the BTC chart. All you need is the Fibonacci tool :)
On the 15 minute chart things got more clear. We should be expecting a breakout.
The ascending triangle is a bullish continuation pattern. However with so much Greed and FOMO into the market we could be heading for a small pullback.
Bitcoin could pullback towards $11500 area and find support. I am preparing to enter into BTC again at specific levels in the next one or two months.
Right now BITCOIN is breaking out above the rising trendline and that could be very risky. If we can hold a weekly candle above the trendline then i can say Bulls are very much in control, but if we go under the trendline and close the weekly candle then bears are in control. The content covered in this chart is NOT to be considered as investment advice. I’m NOT...
Bitcoin is on the overbought/overvalued section. This could lead BTC back to some key levels for a healthy pullback.