I think bitcoin is trading inside the yellow ascending triangle. The false breakouts and false breakdowns really mess TA up and confuses everyone. Price either is supported by the yellow trend line, or breaks below and is supported by the blue trend line. Either way I think this goes up to around 70k within 3 weeks.
This is the ideal zone to buy in my opinion. Between the 21 weekly EMA and 55 daily EMA. May take a month or longer to play out. Patience is required.
This is the best area to buy IMO. May take a month or longer to get there, so patience is required. Next key area of support below us is 48k. Lose that and we're likely going to test the 21 weekly EMA around 40k which we haven't tested for over 160 days.
I think Bitcoin puts in a double bottom the next few weeks. Watch the daily 100 SMA and EMA.
A very simple chart showing the measured move of a descending triangle if Bitcoin breaks down from here.
Measured move to retest the All-time-high.
if we get a double peak scenario like in 2013.
Bitcoin looks like it's forming a cup and handle pattern. It can either take the red or green path. Red: immediate breakout. Green: correction to approx. 52k and up from there. I would say the maximum bottom of the handle is the topside of the previous range at 52666. Interestingly enough, it lines up with a 0.328 fib level.
I think ETH is currently in a consolidation phase and will eventually break out vs BTC. It may gain 77% value vs BTC over the next 4-5 months. The process may be a slight upwards movement and spike up around the beginning of July this year.
See title Target is blue box.
Think Bitcoin is bullish now. Whatever the fed said today sent stocks skyrocketing.
I don't think we'll see any major pullbacks (around -30%) until we get to 100k. This is just a guess based on price action starting Dec 2020 until now and using Fibonacci retracement & extensions.
I think the low is in. Retested the 21 daily ema + consolidation pattern.
I think Bitcoin will test the 21 daily ema today or tomorrow and rally off there.
In order for Bitcoin to maintain a parabolic rise, the angle of each trend or pump has to increase. The first trend to second trend increased by 7 degrees and increased 6 degrees from the second to third. If this pattern continues then, next trend's angle = previous trend's angle + (previous trend angle change - 1) If we use this idea plus the idea that price...
This is just my guess! I think we will reach new highs and see another correction. I thought this was a double top, but we wouldn't be here right now if it were, imo. Also I looked back in Bitcoin's history and double tops do happen, but rarely.
Daily RSI has a bit more room to go, but I don't see this going much higher than 60k. If RSI is rejected at the trendline and bitcoin puts in a double top, then I'm expecting price to play out the bearish divergence. Maybe even going as low as 35k to test the 21 weekly ema over the course of about 20 days. Just my opinion, GL.