JeanPierreDoran

JeanPierreDoran

It looks like the Bump and Run is playing out on the DXY chart. If this plays out like I think it will, this will be good for the Bitcoin price!

JeanPierreDoran

2 weeks ago I started posting about this Ascending Triangle on the daily chart. Bitcoin broke out of it 10 days ago and now we just saw a beautiful retest of this triangle. This is imo a beautiful reversal trend on the daily chart. On the mid-term, we are going to see a more Bullish price action. Price targets: CME futures gap between $27.370 and...

JeanPierreDoran

Bitcoin still above the Ascending Triagle, now testing important support and resistance levels. Testing: • Bitcoin is now testing the $22.300 resistance, and trying to flip it into support • Also testing the weekly 9 MA for resistance, • the daily 50 MA for support and, • the 4H 21 MA for support. If these tests go well, we will be seeing 26k soon!

JeanPierreDoran

Many people thinks that this Ascending Channel is going to play out, which would be a continuation pattern that pushes the price down further. I don't think so, because many other T.A. indicators are telling us that we have already bottomed. IMO

JeanPierreDoran

The Bitcoin price has broken out of the Ascending Triangle. Also it broke the heavy resistance point at the $22.300. The next great resistance is on $24.550, this is the next target to watch.

JeanPierreDoran

It looks like the Bearish Divergence is playing out on the DXY. I can also see the Bump & Run pattern play out. This push the DXY down with 6%.

JeanPierreDoran

I can see a Bump and Run pattern forming on the Daily chart, which is a reversal Pattern. If this plays out, it could drop the DXY back don to the 100 level. And don't forget we still have the Bearish Divergence that dit not play out yet. I think the DXY is preparing for a correction. DXY Bearish Divergence

JeanPierreDoran

It seems like the Ascending Triangle is still in play on the dayly chart. If it plays out, we could see the price of Bitocoin pump to the 25K target. There is heavy support and resistance between 22.300 and 24.550, so if the price breaks through and reach the 25K target, this could potentially mark the end of the downside pressure.

JeanPierreDoran

There is a possible Ascending Triangle forming on the 1D chart. We just saw a dip to 18.900 probably due to the CPI news, but it dit recover fast. This dip looks like a fake-out, out of the Ascending Triangle. We will need to see how the price will be developing in the coming days/weeks. If this triangle plays out, it could push the price up to the 25K.

JeanPierreDoran Updated 

I think that we are seeing a Bull Flag pattern on the hourly charts. If it plays out, it could push the price of BTC to $23.500. Even though there is heavy resistance at the 22.3k level, I think it is very likely that we will be seeing 23k Bitcoin price this week. The Bull Flag is also inline with my other analysys > Symmetrical Triangle

JeanPierreDoran Updated 

This channel often breaks-out to the upside. If this breaks to the upside, it could bring the price of Bitcoin to the Resistance area between $ 22.300 and $ 24.550.

JeanPierreDoran

It looks like the formation in my past analysis was a Symmetrical Triangle. if it would be a pennant, it would break out to the downside. Now we have a break to the upside. This could be a fake-out, but I do not think so. I think it's likely that the price of Bitcoin will continue to the upside, finding it's way between 24k and 28k in the coming weeks. We will see

JeanPierreDoran

The Bearish Divergence is getting stronger in my opinion.

JeanPierreDoran

Bitcoin just printed the Double Bottom in the form of an Adam and Eve Pattern. The break-out target is also in-line with the 1.618 Fib. Also the price managed to get above the 21MA on the daily chart and I think this is a positive short-term development. If it breaks the Neckline, I’ll be waiting for a confirmation before entering a long position.

JeanPierreDoran

There is a Symmetrical Triangle or Bear Pennant. If it happens to be a Symmetrical Triangle, it could break-out on both sides. A break-out to the upside will eventually lead the price to $25.000, but a break-out to the downside will push the price down further to around $15.000. On the hourly charts it look more like a Symmetrical Triangle, but on the daily chart...

JeanPierreDoran

It looks like the price of Bitcoin is forming a Double Bottom pattern on the daily chart, which would be a Bullish Pattern. We are in a pretty bad Macroeconomics environment, but if this pattern plays out, the target will be around $25.000. And this could have a more bullish effect on the price of Bitcoin mid- to long-term. The break-out target would also be...

JeanPierreDoran

Possible Bearish Divergence Pattern forming on the DXY graph. If this forms and play out, it could be very positive for the Bitcoin price mid-term. Also a Ascending Channel forming, which could break-out to the downside.

JeanPierreDoran Updated 

There is a Descending Channel Pattern on the 1H chart. Most of the time this breaks out to the upside. If so, it could push the price of Bitcoin at above $20k in the coming days.