The technical analysis is a simple method of market analysis, but when we talk about BTC (especially BTC), we must look beyond standart trendlines, indicators and other instruments ot technical analysis! What the TA show us? In the last months we have strong downtrend and by the TA rules, we have to looking for short positions! If we focus around these days...
This analysis is a complementary piece to a series of studies on combined indicators in an attempt to project where the bottom on the Bitcoin's current downtrend is. See the previous posts at the end of the analysis. *The 1W MA Buy Zone On today's study I start again with the MA Support Zone, this time on the 1W chart, which is illustrated by the MA150 and...
While this week's volatility has left may traders puzzled, as the rise at the start of the week is being corrected today with a pull back, there are a few longer term indicators that we may have been missing. *The MA1000 and MA1400 First of all I want to point out the significance of the MA1000 and MA1400 on the 1D chart. Those have formed a clear Support Zone...
As I've said in the past I rarely give a short term projection here as the patterns tend to be too unstable with Bitcoin's volatility but this one is too interesting to pass by. Technically the strongest short term scenario is for the price to reverse now towards 7800 as it is trading near the 8540 4H Resistance. However if that breaks then we have high...
The last idea discussed the implications of Bitcoin entering the Buy Zone of the Parabolic Channel and how this can turn into a potential Buy Signal near $6500 relative to the price action of the 2016 Bull Cycle. This time I want to focus on the more recent price action and what is more relevant than comparing the current bearish channel to the 2018 bear...
I've been talking about Bitcoin going down since August, see different posts
Price move in the tringle. Soon will touch the resistance line. Target's showing in the chart. Telegram chanell: @M21Signal
It is normal for Bitcoin traders to panic when the Digital Store of Value (as Bitcoin is often referred to) posts a significant decline. There will always be those to go as far as to call new bear cycles or even 0. Facts are facts and all of them still point out that Bitcoin remains at the start of a new Bull Cycle. What has this sell-off produced? Simple. It is...
BTC/USD forecast for the coming months. If BTC doesn't hold the current support it could fall towards Weekly 200MA. before bouncing off. Better wait for the price to reset.
This is just a quick analysis of what this week's strong rejection can mean for BTC if indeed we are repeating the main fractal of the 2018 bear market. First of all I am not a fan of this formation as we are comparing two periods under largely different parameters. The first was a whole Bear Market span. The second is currently only the start of the new Bull...
The big (relatively to the multi week consolidation action) decline came, catching many traders off guard as the 3 month 9,100 Support broke with stunning ease yesterday. Even though we are not at 6000 yet as my last Bitcoin study presented as probability: an interesting pattern has emerged. The underlying medium term pattern on 1D is a Channel Down aiming...
As the new Bull Market progresses, Bitcoin has left few questions unanswered. One of those has to do with its historic tendency to touch the 0.17 Fibonacci retracement level before the Halving during its 2nd accumulation phase. But let's take this from the beginning. Each BTC cycle is divided into 5 phases: * After each All Time High (ATH) and market top the...
Bitcoin has been consolidating since the June 26th annual High. This is not news. What is interesting though is how this price action on BTC can be related to the rest of the market. During the previous Bull Market (2015 - 2017), Bitcoin and the Alts have had clear balance of power shifts. When Bitcoin initially attempted to reverse after the Bear Market bottom,...
Another short term pattern on Bitcoin. This time the chart is self explanatory. The 1W Descending Triangle has been following a Lower High rejection pattern on the 0.786 Fibonacci retracement level. Only one time this level wasn't reached but still the 9100 1D Support held and didn't break the sequence. Proof is that on the next bottom the 0.786 retrace was...
BTCUSD create Triangle pattern wait for break out then take this trade
Many try to explain why Bitcoin has been trading sideways for nearly 3 months stuck between 9100 and 13900. The answer may be simpler than we would expect. Drawing the Fibonacci retracement levels from the December 2017 market top to the December 2018 market bottom we can clearly see that the current consolidation is taking place within the 0.382 - 0.618...
Hello Guys, Party seems over in Bitcoin. Current support 9180 is so important to watch. Bitcoin is about to make a descending triangle pattern in a DAY time frame. Remember descending triangle pattern is a bearish Breakout pattern. I am waiting for my second trade this year on bitmex . Last was opened on 4100 long booked on 11000
I rarely do short term crypto patterns, but this has come across the 4H time frame and I thought I'd share. Bitcoin approached today the lower 4H Support (9,790 - 9,850). Last time the price rebounded off that level, we had a 7 day consolidation within roughly 9,800 - 10,450. So if 9,790 holds, I don't see any reason why we shouldn't repeat this symmetrical...