alpergucer

alpergucer

Hi all, I hereby present a very long term trend analysis for BTCUSD. I guess, there will be a fall in BTC as a triangle formation is coming and BTC is traded near the descending long term trendline. But this is Bitcoin. Who knows? Maybe @alanmasters say something more technical and wiser :) Take care friends.

alpergucer

Just a quick plot of current nasdaq trenlines.

alpergucer

First please note that I am not an expert on technical analysis. However, basic technical analysis show a potential drawback on Bitcoin prices. On 4h BTCUSD chart there is an ascending wedge which makes me think there will be recent drop in Bitcoin prices.

alpergucer

Inline with the bearish movement of BTC, XRP is also going the down. According to my trend analysis, we are athe the edge of the trend zone. The question is will XRP hold and resist? Tell you the truth, I don't know. MACD and STOCH gives indications of a bear run. If XRP cannot resist, a possible retraction to 0.57 USD may occur. Let's wait and see. Please note...

alpergucer

I think we are at the edge of a possible big correction for BTC. If you have seen my previous analysis, Bitcoin is trying hard to keep its head up. But as trendline and charts indicate, it is really struggling. MACD is just about to turn bearish, so as the STOCH. If BTC cannot move above 9500 USD in the following 4-5 4H bars, I think we will have a correction down...

alpergucer

This is an update to my 4H analysis of BTC trendline. BTC is trying to stay in the uptrend channel but bears are getting stronger. Checking the STOCH and MACD waves, I guess it will fall below the upchannel bottom support. Note that yhis is MY guess only. Trade at your own decision. Please feel free to add your comments and like if you really like my work :-)

alpergucer Updated 

Now, I utilised 4H bars for the BTC trend analysis. Still the same situation. A general downtrend and a possible one to go up. As you see, BTC must pass about 10.900 USD maybe in a day to prove to be breaking up. Let's wait and see. Please leave your comments and like if you like the analysis :-)

alpergucer

As you will see in the chart, we are at the cross junction area for BTCUSD. Global down trend is still active. However, a new up trend is also forming. Let's wait and see who wins...