Watch for a breakout from this downward trend. Each drop has brought in less sellers. The overly bearish sentiment and falling momentum would leave me to believe this will break upward. Best to wait for it to break. Good luck!
Bitcoin has hit all major support lines. The distance to first major resistance (purple downtrend line) is very large and presents a great opportunity to buy with a high target. Good luck!
Bitcoin has a hidden bullish divergence on large time frames, pointing to much higher prices than $20K and a larger percentage return than the 2016-2017 bull market that marked new highs in momentum. Bitcoin above $100K seems very likely in the next two years. Don't lose sight of this new bull trend by getting scared of volatility.
Bitcoin is sitting right on support. If it holds the risk reward back up to resistance in the 5Ks is very good. Next support is down to around 1800.
The NAS100 hit the bottom long term support trendline that also coincides with retesting support after breaking out of the rising wedge (S&P500 did a similar move in 87 after breaking its longterm wedge). It's still forming an even steeper rising wedge (likely to break to the upside as well). We should be on our way back up to the resistance in this wedge at 9100...
Expecting the range to break to the upside. Downward momentum is super weak on big timeframes. Shorts are likely to get punished shortly ;). I do expect the new uptrend to be rocky as any new trend is in the beginning. I expect the next uptrend to lead to >$20K as the momentum on the last move to 20K was the highest ever and should have a followup move to push new highs.
www.investopedia.com This is one of the few times I have seen such a large falling wedge in Bitcoin. Using the target rule in the investopedia article, we measure the wedge height and add that to the breakout price to get a target of 10779. I'm pretty sure Bitcoin is going much higher (like above $30K), but just for fun lets do the investopedia target.
tIme to buy bitcoin (anywhere in $6Ks is good). Pretty sure the monthly correction is over. Look for >$30K
Target $1700. It's been a long time since I can recall seeing BTC slide down the lower Bollinger Band on the daily timeframe. It's also been a long time since I've posted a short trade for BTC. I expect this is just a correction on much larger timeframes.
BTC just broke the June 2016 highs of 5200 CNY. This was really the last resistance before attacking a new all time high. I would expect BTC to make a new ATH here, in which case the targets become very large. This is one of the better buy signals I've posted in BTC. Prepare for lots of volatility so don't take too much risk as it could swing up and down with big...
I just happened to look at GBTC today and thought it was interesting how well defined the pullback resistance was. GBTC is back on the uptrend after breaking out.
BTC had a monthly pullback that culminated in the drop to $460. If you look at the fast moves almost straight down, it is clear this was a pullback and not a trend change. If there's going to be a lower high to set about a trend change, knowing BTC traders it's likely to take place around 4500 CNY because that's where the new downtrend line is. Personally I expect...
BTC/USD is looking a bit bearish at the moment. $470 proved to be resistance once again and has made a lower high at $466 on the daily chart. My concern is the break below this blue dashed line could be a sign of selling to come. The volume is also not matching that of a true breakout from the $420 area. The DMI has been showing lower highs on the weekly (a sign...
Current indication is that the new major trend is up. My suspicion is a lot of people are seeing the very long term dashed blue trendline as a significant support line. This looks reasonable to me as well as it has much more significance than the newly dashed red trendline, which has been breached on Bitstamp. The ADX is also at a historic low point, which...
Bitcoin has smashed back into the new "downtrend line" from ATH. This 3 day uptrend is a solid trend continuation of the previous 3 day uptrend after a nice correction down to the $360 area. At this point the uptrend has serious momentum just starting. ADX has turned up, CCI is just above 100, and MACD histogram is accelerating into positive territory while the...
The monthly chart has signaled a resumption of the previous massive monthly uptrend that took BTC/USD from $5 to over $1000. The ADX (the blue line on the DMI), which is a measurement of trend strength or momentum, is the main indicator I'm concentrating on with this post. Currently the ADX has switched back into rising mode which shows trend strength increasing...
The uptrend on the daily is progressing nicely. Volatility is still relatively low, which is a great sign for a strong trend. This is shown by the ATR indicator which is the 10 period ATR versus the 200 period ATR. RSI is inching close to 70 which is likely to go above 70 for that final push we need to break above $305. The price has formed an ascending...
Finally there's another really good opportunity for bitcoin to breakout of the downtrend here (last one was in November). I should have posted this chart earlier as my daily breakout was at 232 a few days ago, but I think this is still likely to go higher and still relevant for the larger time frames. A key indication is the downtrend is forming an ascending...