Deangod

Deangod

Imminent dump. Looking at historical data, there is a probability that it may touch previously broken resistance, turning those into supports. Here are my targets and potential buy zones. As indicated in the green box.

Deangod

Plotted all the possible reversal points for BTC. All the horizontal lines represent the historically valid support zones in which price has been supported. Historically, BTC has bounced off the 200 MA. Will we finally see the bottom of this bear market? That depends on the weekly candle close. But given that the 3rd MA touch coincides with the 21k support area,...

Deangod

Something interesting going on in BTCUSD. We may actually see the bottom soon. If the historical price action is right, then we are in the last leg of the bear market. I could be wrong but this is just my observation using technical analysis. Go see for yourselves. 1. June 2021, MACD EMA crossover 2. Breakout of RSI soon followed. 3. July 2021, RSI found...

Deangod

Smooth Love Potion points of confluence : 1. Double bottom pattern 2. Symmetrical Triangle Pattern formation 3. Dragonfly Doji on the daily

Deangod

Update, on the daily timeframe, BTC is currently sitting on top of the 61.8 FIB zone which is holding up as a valid support area, if manage to get a daily candle close above this we may no longer see a dump to the downside.

Deangod

More dumping? On a higher timeframe (Weekly Timeframe), BTC's move is as expected as it broke the major descending channel it was once stuck in. Consequentially, it has been making a clear uptrend move (as seen in the highs and lows marked as (HH for higher high, HL for higher low). This is nothing out of the ordinary. If we manage to touch/test the blue line...

Deangod

Confirmed Breakout to the upside? SLP is currently testing the broken resistance thus turning it into new support. We need to see a bullish 4H candle close in order for this move to be valid. Moreover, the price is currently sitting at 61.8 FIB which is making a new HL (higher low) structure.

Deangod

Bitcoin's minor correction has given us the confirmation that a possible move to the upside is imminent. ( If this area holds as support). RSI is indicating an extremely oversold scenario. Once we get a daily close above the 45,300 area, then we are getting that move to the upside as it's a classic breakout + retest confirmation.

Deangod

Smooth Love Potion (SLP) has recently retested our (.020) area. This is the 4th day the said area has acted as a strong demand/support zone. We are currently stuck in between 2 important zones. Our charts are indicating a potential move to the upside. Once we see a potential move to the 0.023 we may encounter selling pressure since we have had 3 daily timeframe...

Deangod

On a technical aspect, SLP is in a good bullish rally over the past week. Price has recently made an explosive move to the upside breaking a significant area (0.02). A break in this area is followed by a retest turning the previous resistance into support. Once we get a 4H candle close above this area we can confirm that the trend is still bullish.

Deangod

Price is currently testing our minor resistance which has acted as support in the past. If we manage to get a 4HR close above this we may see a potential short-term movement to the upside. As of now I will be preparing for any possible scenarios and wait for a clear directional bias before adding more positions. I would want to see price consolidate between our...

Deangod

Price managed to consolidate for a few hours near the FIB 61.80 zone, then we got a good upside movement. The bullish trendline was also touched along with the RSI indicating an "oversold" scenario. We have to watch out for the area 40,434 as it could act as minor resistance.

Deangod

Update: As expected, the price managed to bounce off the 61.60 FIB zone with momentum along with a relatively good volume. My confluence for this position are as follows : 1. Respected HL 2. 3 valid trendline touches 3. Fibonacci 61.80 rejection 4. Previous resistance-turned support rejection. 5. Multiple Bullish candle close at the projected bounce-off...

Deangod

Update: Bias remains bullish. Price found support at the Fib 61.80, which I did not account for in my previous analysis. Adjusted the trendline along with the fib as confluence. RSI is still headed to the "oversold" area as expected as price approaches valid "bounce-off" points. Will personally add position once we get a good bullish candle close.

Deangod

Naked price action indicates that there is a potential upward bounce given the number of times it has tested the zone where we are at. RSI is also approaching the "oversold" zone.