Seeing an inverted head and shoulders forming on the weekly chart neckline @ 9899 following long term resistance a break above would easily lead us to 14k a coin. Long from 8800 target at resistance if breaks long will continue else be looking to short the reversal.
Overnight we have seen a large drawdown in the price to $8600 when we were testing the lows of $9k over the weekend. This shows that the parabolic move from end of December has been broken. I am expecting a pull down to the long-term price trend @ $8k. at which point a reversal is likely to occur and push us up to the magical 10k by mid-February. Exciting...
Following on from my previous idea. I do still believe that Bitcoin is on a parabolic trajectory however, on the hourly chart we are seeing a channel being formed which may present some excellent short-term trading moves. If this channel breaks, I will be looking to short till the resistance of the parabolic trend at which point a reversal upwards would be...
A very bullish start to 2020! The downward channel from June 2019 has been broken (Green lines) giving confirmation of the long-term price trend since 2014 (Gold line). Seeing how the price movements have been occurring since December 16th we are beginning to see a formation of a parabolic move materialise (Blue Line). If this trend continues, we will see a price...
Bitcoin is in a precarious situation as we enter into 2020. We are slowly edging closer to the bullish trend continued from 2015 which could prove questionable for the price as we enter the final stages of 2019. The whales are signalling that a move down to $5,500 is likely and this would push it below this long-term trend which may unleash chaos! However, as we...
