The Strong support line since the 4th of October 2020 was hit yesterday the 7th of January as I mention a few weeks ago and again today, we are also retesting again the previous falling wedge, we have to hold this support lines to avoid a catastrophic scenario, if we manage that prices should move to the upside from here, in my opinion I still think we could see...
We have form a falling wedge in this one hour chart, we also have some bullish divergence in our RSI and is most likely that the price of bitcoin should start moving up soon. Also in our daily chart we still seem to be forming a cup and handle pattern and we probably hit the bottom of the handle before, I think we should go up now.
We finally breakout the downtrend and now we are clearly in an uptrend but are we going to create a handle here to form a cup and handle pattern? or are we going to retest the broken trend before continue in an upside direction? anything could happen but for sure we are in a clear uptrend now.
Bitcoin is still forming a falling wedge that should break to the upside sooner or later, also we have a descending broadening wedge bullish too and a supper strong support line that should hold the price and we could potentially bounce from there to create a new parabolic move, this could be most likely the first week in January and I am buying as much as I can...
Bitcoin have broken down our ascending broadening wedge earlier than expected, we hit the support line of our descending channel and we could potentially go inside again and at least hit the top of the channel, the reason for this is that we have some bullish divergence in the one hour chart at the moment.
At the moment we have followed the last 3 arrows from my previous ideas, this is only an update of what the price of Bitcoin could follow next, I think we could have our last leg up before breaking the ascending broadening wedge to the downside, but anything can happen here, and soon we could have a big move up or down, but most likely up I think.
At the moment, we went down to the support line but I have just adjusted the line now and we also went up straight after, I think we could continue forming this ascending broadening wedge (yellow lines) inside a descending channel (purple lines) and also inside a bigger descending broadening wedge (blue lines)
Bitcoin haven been forming a descending broadening wedge since the 8th of November 2021, at any time I am expecting to be a breakout soon or later, but it is very possible to continue forming this descending channel and have our last leg down maybe in a couple of days to break to the upside later, but if not we could break to the upside at any time and I don't...
Bitcoin have been forming an uptrend since the 4th of October 2020, I still believe we didn't hit the top yet, and I think if we continue in this uptrend line we should be fine and soon or later we could breakout, it could happen before the 7th of January, good luck!
We seems to be forming a double bottom and at the same time we have some bullish divergence in our RSI, are we about to reverse the trend? the target for the breakout would be $50,300 but we have 2 strong resistances lines to pass first, are we going to manage that?
Bitcoin seems to be forming a descending broadening wedge inside an ascending one in this one hour chart, if we break the descending one to the upside we could hit the target and go over (there is more room for that) and if we break the ascending one to the downside we could continue forming the descending one and hit the target but this could only be temporarily...
Yesterday the rising wedge was broken down as expected, now we could be creating an ascending broadening wedge in this one and four hours charts too.
We have found a strong resistance and retested our ascending broadening wedge and falling wedge at the same time, are we about to drop more or are we going to manage to break inside again? this wont be easy now, also in the one hour chart are some indications that we may drop further, but anything is possible in the bitcoin price.
We could break to the downside this rising wedge at the same time we have our first bearish divergence in the RSI, We need to keep an eye on this unfortunately.
Are we going to hit again this descending broadening wedge support line and meet the target of the breakdown of the ascending one or are we going to get back again inside the ascending one and break to the upside of the previous falling wedge? There are some important indicators out there that didn't mark the top yet, this would be the first time in History if...
I still believe we should break the falling wedge to the upside, bitcoin have a good chance for that to happen, but I also would like to warn you of the bad scenario that no one want to see, anything could happen here but I really think we should breakout at least one more time, fingers crossed.
We could see a breakout of this falling wedge soon, soon or later this have to breakout.
We are still inside our falling wedge and soon or later this could most probably break to the upside, I think December could be parabolic.