danielbil

danielbil

BTCUSDT has been forming a falling wedge chart pattern on the 4h timeframe. Theoretically, falling wedge patterns are bullish patterns and price normally breaks out and above the falling wedge pattern however await price breakout either below or above (and out of) the wedge before entering a short or long position. Price will most likely fall some more before...

danielbil

BTCUSDT has successfully bounced off the bottom Bollinger Band and after a short struggle, overcome the Point of Control on the Fixed Range Volume (indicator) which now acts as support along with the three uptrend lines. The uptrends with a smaller gradient are more secure and thus will be respected for longer whilst the high gradient ones will be respected for a...

danielbil Updated 

Everything shown on chart along with possible predictions depending on if falling wedge is confirmed or broken. From then on pay attention to the resistance and support levels shown on chart. NOTE price must confirm falling wedge pattern and break above, out of it in order for TOTAL to be considered in an uptrend again. Full confidence that it will achieve this,...

danielbil

BTC after having risen to a high slightly over $44000 was rejected back down to the $41000 levels. However, BTCUSDT has currently reached a strong support level supported by several indicators reinforced by a combination of indicators and chart patterns. Firstly, BTC has reached 0.382 fib support level which is a historically sound level in terms of fib sequence...

danielbil

Firstly, BTC has formed an Inverted Head and Shoulders pattern on the chart - this is a very bullish sign. Secondly it has successfully bounced off the long term support (purple line) and broken the downtrend that has been respected since November (orange trend). However, BTC has met some resistance at $44000 and is hovering slightly below there currently. MACD is...

danielbil

There is a hidden continuation bearish divergence Class A pattern on the chart in regards to the RSI which indicates a downtrend continuation. However, a downwards wedge is forming (blue lines) which could indicate a trend reversal back into an uptrend, yet await for price to either break support or resistance of the wedge before entering a short or a long. RSI =...

danielbil Updated 

Bullish BTC has been in a downtrend since November however it is encountering crucial support reinforced by several indicators and factors. To start, it is encountering the support of one of the most well established long term channels in the crypto market (purple lines, thick). The RSI shows that once it has been falling consistently there is a spike in BTC...

danielbil

BTC unstable market conditions as price got rejected from established (small) trend channel semi-confirming a bear flag as the bigger trend channel has not yet been broken and acting as support, could push prices upwards. Price was also rejected at $38500 from Head and Shoulders Resistance base line (purple) connecting at ATH at 68000, Right Shoulder of H&S...