looking good!
stop buy at 212
if it reacches 212, it will go to 215.
then consolidate then continue up.. so set stop loss at 214 and forget about it.
if you wanna buy now, stop loss at 209.7, and reentry at bottom black line. good luck!
#TPOWS
as seen on chart, rsi is reversing as price remains stable... this shows reversal of bearish momentum. in the previous trade we scalped the previous small spike for 14% profit before it dropped again to the previous low as expected...
Now if this bullish divergence is accurate, we should go over the 200EMA (in black) Very soon, otherwise, it would be confirmed...
main motive to open this trade at 0.36 was the bullish memntum seen here... RSI made higher lows will prive made lower lows.. on 4H chart which is a pretty guaranteed reversal.
As seen on chart, 20 EMA is support on 4H chart which is Great... histogram bar lines are still creating higher highs, showing that this bullish push isn't over yet.
The downside to this...
as we can see from the chart, whenever price tests 20EMA in red, it fails.. that has been happening since may! our next test is at around 230, we couldn't even get close enough to test it first before continuing our drop... there is a chance we reverse and teest it again.. that would be a 15% trade at least! but that's not what im talking about in this post......
lets keep this short and precise. we're approaching a test of 20EMA (in red) as support on 1 hour chart. of we close a candle below it, shits gonna get nasty. I lean towards bullish move because bears are losing momentum, which created an ascending triangle, and a bullish divergence of RSI with price!
Also, to be safe, lets zoom out a bit to the 2 hour chart:
as...
from the looks of it, BTC will drop to 6460, touch 20 EMa (in red) and start its rebound. this is also supported by the channel formed using the price action from the past hour or so. Also, volatility is high, but MACD is starting a bearish div. But unfortuantely things are getting very tight right now, if we drop below 6460, this will probably cancel our hope to...
this wedge has a 350 target, but as expected, we broke below it due to lack of volume...
however, we are currently trying to get back in... if we do, we will break upwards, and the profits will be juicy. im buying if we get back in :) stay aware!
the bull flag got invalidated and price dropped below 50ema and closed a candle. so we will drop below 20 ema, and test the 200 ema at around 54-55 usd.
Ok guys, so the market has been stable for a very long time now! as you can see from the 15 minute chart, even after forming a pennant and breaking that sideways channel (as predicted by my analysis yesterday) we just dropped right back. This means that a full upward correction will NOT be achieved unless we fully retrace to 6830.
another drop to 6900 is coming in...
Hello fellow crypto enthusiasts.. as we can see from the chart, bitcoin is following this parallel channel for the next couple of days. that's not the only reason why i think it'll rebound on 6870 though... the 50MA on the one daily chart will provide support at the exact same price.. Now keep in mind, this will be the low from now as bitcoin will rebound from...
