smalik11

smalik11

BTC had a little bounce from $7,650 until it met a strong resistance at around $8,400 where the downward trend line and 38.2 Fibonacci level have joined their forces to stop BTC. It has been moving sideways ever since with little volatility. If bulls manage to breach the $8,400 price, the next resistance line is the blue 25 EMA line at $8600-8700 price levels....

smalik11 Updated 

On a 1-hour chaer, BTC is in the process of making a Head and Shoulders Pattern which is going to complete soon. The 25-EMA is acting as a resistance line. Considering this scenario, BTC can go up to $9,000 mark before heading lower. When the right shoulder is formed, a break below the neckline with high volume will complete the pattern. If the pattern is...

smalik11

*Education purposes only, not an investment advice* While most of the analysts analyzing BTC -4.13% using the relative shorter-period charts such as 1H or 4H, let's look at the daily chart using simple yet one of the most powerful tool in TA, trend lines . Looking at the daily chart , it is clear that BTC -4.13% failed to end the downtrend channel by retracting...

smalik11 Updated 

So BTC has started a down trend. Indicators and trend analysis signalling BTC making lower highs and lower lows so far. A third lower high and lower low will be a final nail causing BTC to drop from $10100 to around $9500.

smalik11 Updated 

BTC has violated it's uptrend line and downtrend line. We need to see if the current price action is going to make a head-and-shoulders pattern. I'll not trade until I see a clear price direction. Enter long when price breaks $11750 (a very strong resistance level as shown yesterday). This analysis is for education purpose only. Invest by doing your own research.