Ascending triangle vs. Head and shoulders. We all know everyone's watching these. Only time will tell which one will win. There's many good arguments on both bullish and bear sides. Tell me which way you think it will go below and why.
This idea will probably fail if bitcoin goes bananas. Anyways this chart is pretty self explanatory. The idea is that HBAR is in a longer consolidation similar to the one it was in last year. I marked some similarities between back then and now. If HBAR dumps below the 21 EMA on the weekly chart, keep this idea in mind.
I clearly see an ascending triangle in the chart. It's not broken out of yet. If the breakout happens to the upside and a retest of the top of the triangle is successful, then the measured move from the ascending triangle is a little over 4 dollars. If something goes wrong however and we break down or the breakout turns out to be a fakeout, we may see MATIC make...
As you can see we are getting a MACD cross on the monthly chart. The chart looks similar to 2017, but if you look closely at the weekly chart now compared to 2017, they are different. We printed a MACD cross on the weekly, which never happened in 2017. It is possible for the current MACD cross to be a fake-out bull trap, but it is too early to say until it crosses...
Daily MACD about to cross up. Looking to sell mid-upper keltner channel on the daily timeframe. Lines up with fib levels as well. Lines drawn are always a hypothetical scenerio. Don't think any lines you see on tradingview will match up with price action perfectly. Daily timeframe so it might be a few days until we see 44-50k.
If the log growth curve is respected. Invalidate the curve by closing above, and we can go much higher like many people believe. (log chart)- filters exponential growth
2013- in November 2017- in December 2021- lots of people say it will peak in September I hope it does not peak in September for the yearly candle's sake. We do not want that candle to close as a shooting star. Yes, if we do peak in November or December then you'll have to wait a little bit longer for your lambos. But if you're in Bitcoin for the long run and wish...
This is the optimal scenario Bitcoin can take IMO. Sideways and down for the next 2-3 months and rally with a peak late this year. I know many are getting impatient and want a peak to happen during the summer, but it won't be healthy for Bitcoin long-term if it peaks in the middle of the year and closes the yearly candle as a shooting star. If this does play out,...
I believe with the advent of late April's dump below the channel, that the top of the channel is now resistance and that we are still in the middle of a correction. How deep this correction goes depends on if price is able to find support on the 21 weekly EMA (like in 2017) or finds support on the 200 daily SMA (like 2013). If price is able to break above the...
Ideally I'd like to see weekly RSI get to that 54 level or a little lower so that we can launch as high as possible during the next leg up. 54 RSI should match up with a price around the previous low at 47k.
No doubt in my mind bitcoin is long-term bullish. Short-term however can go either way. Path 1: Short-term bullish if price can break above 61k. Avoid short-term pain, but sacrifice higher long-term bitcoin price this cycle. Path 2: Short-term bearish if price gets rejected by resistance and breaks below 47k. If price breaks below the 21 weekly EMA, next area of...
Bitcoin's currently putting in a relief rally. Either continues rally if it can break above 61k, or puts in a lower high and goes sideways and down. Should have a resolution in about a week.
I'm expecting price to fall to the 200 EMA & 200 SMA (35k-39k) sometime within the next few months. Price went up too much too fast and broke the record for going the longest time without testing the 21 weekly EMA. So I think it's possible we correct even deeper below the 21 weekly EMA in the future. Price should only spend a few weeks under the 21 weekly EMA....
This idea assumes this cycle is a double peak cycle like in 2013. If so, we can expect 1-3 months of sideways and down. Best area to buy will be whatever price is when the monthly RSI gets down to about 70. Best area to sell will be whatever price is when monthly RSI gets up to about 90-95. The buy and sell zones I show on the chart are purely my guess based on...
Doge might hit up around 55 cents, but if it goes higher than that, I don't even know what to say. The 21 daily EMA and 51 daily EMA are rapidly rising which will put the bottom somewhere in the buy zone if there is a reversal. The top may be already in of course, but the hype is still alive with DogeDay420, so probably not. I'd be careful not to fomo in above 50 cents.
Daily closed below the 55 daily EMA, which is not good. More downside is possible. I marked some support areas below to watch out for within the upcoming weeks or months. If price can start making higher highs on the daily then all downside will be invalidated and we can start targeting moves higher.
The rising wedge/ ascending triangle pattern was broken by last nights dump. It did happen on a weekend when CME was closed, so maybe it isn't that big of a deal. Or maybe it is hinting of more downside. We really don't know. Only thing we can do is follow price action and see how it behaves level by level. Key areas: 63k- need to close a 4H above to create a...
Whether it pumps more, it will eventually come down to the 21 and 51 daily EMA and consolidate there for a few months before pumping again. I'd imagine the next pump after the consolidation to be even more intense (maybe $1). Moving averages are of course reactive to price action, so the longer doge can move sideways above the EMA's, the more the EMA's will get...