BTC price has been moving in a falling wedge for days now. Falling wedge is a bullish reversal pattern showing lack of selling momentum, and a slow but steady increase in buying/accumulation. A few days ago the price tried to break out of this wedge, but failed due to lack of followup. Those kinds of rejections at a key resistance such as this usually result in a...
Last two days we were witnessing some of the most extreme panic selling and fear in this market. There is still a lot of fear present. Usually when we have these conditions, we should watch closely for signals of a bounce and a retrace. Looking at the price movements today, we already see a slowing momentum of selling (if we look closely enough). Although many...
After quite a violent fall and multiple fake bounces tricking the FOMO buyers, good signs are appearing that BTC has found support at the 7700 levels (for now), and if this support holds, then it's ready to make a move upwards. The price is currently moving in a falling wedge, which is a bullish reversal pattern, combined with a bounce from a Fib support line,...
BTC is currently moving in a rising wedge, which is a bearish pattern indicating lack of buying momentum. If the price breaks down from the wedge support line, then we have a confirmation for a move down. Targets are: 1. 8472 2. 8252 If the price manages to push above the upper line of the wedge, then the pattern is invalidated (highly unlikely at this...
BTC has formed a bullish flag pattern after breaking out yesterday and hitting the 0.382 fib line. The price is currently consolidating the gains inside the flag. We should see a decisive movement in a matter of hours. If the price manages to break out of the flag upwards, then the target projections are: 1. 9384 (flag projection) 2. 9480 (fib resistance) In...
BTC is currently moving down in a falling wedge, which is a bullish reversal pattern. RSI shows a clear bullish divergence, indicating the slow-down of the selling momentum. Ideal would be if the volume reduced slowly as we're nearing the wedge resistance, indicating we're bottoming out here, and then a volume spike on the breakout of the wedge would be a good...
BTC has successfully broken out of the downtrend channel by breaching (and closing above) the major downtrend line. When these breakouts happen, usually the price retests the newly broken resistance to try it as a support. - Either it doesn't hold, then it turns into a fakeout and price goes back to revisit the lows, or... The new support holds, then it...
Rising wedge is a reversal (bearish) pattern. If confirmed, it will give us new opportunity to rebuy BTC at lower, more attractive prices. As I'm writing this, BTC/USDT is touching the lower line of the wedge, but if we look at the RSI and the volume, we can see that it's more likely that the rising wedge will be broken down. Another factor is that this rising...
BTC/USD is moving in a falling wedge (bullish reversal pattern). Two important things to watch for: 1. A breakout of the upper resistance of the wedge (area 9780 - 9820) will confirm a move up. First target is the red downtrend resistance line where BTC got rejected a few days ago. We will at least retest it, so it will be a good place to lock in some profits...
ADA/BTC is currently at the support line of the falling wedge. If it breaks out of the resistance of the falling wedge at 0.00003270, it will be a buy signal. This is a quick trade (1h chart), and stop loss at 0.00003195 (orange dashed line) is strongly recommended. First target: 0.00003519 (local top)
There is a strong bearish divergence in volume and RSI for a few days now while BTC kept pushing new highs. Expecting a move down towards the 0.382 Fib line at 6247 EUR. If you locked in the profits when I suggested in my previous BTC analysis, you'll have some nice buying opportinities at lower price levels soon enough.
ETH has had more than a month long consolidation and accumulation period. It tested the 295 eur resistance a couple of times and failed back down with a false breakout. This time, it has a very nice supportive structure with multiple higher lows and higher highs in place, and the buying volume looks great in this last move up to the resistance line. Note the...
BTC has had an incredible bullish run. However, a correction is long overdue, and now potential bearish signs are creeping up. Rising wedge is a bearish reversal pattern. If the price breaks down below the lower line of the wedge, then a correction is going to happen. Targets for the correction are one of the yellow trend lines, and the Fibonacci support...