Anlaysis
BTC can break 7900 in short term? U should be cautious!
Currently, the short term trend of BTC is becoming hard to predict as some of the altcoins pumped a lot like XRP, LTC and ETC. However, to be the leader of the crypto, BTC and ETH didn't follow, we could only define these pumping as a single action of the main force, it's not easy for these coins to stabilize on the current level without the reply of BTC.
To BTC, although price still keep rebounding during recent months, however, the volume chart gives us the signal that strength of the bulls can't be treated optimistically. From the 1H chart, we could clearly see that the resistance is so hard above $7800, this slowly rising without a material volume increasing can't make the rebound keep longer.
Investors should be careful more about the big range of pullback at any moment, especially if a rapid pump happen in a short period, it's easy to fall back quickly. So today, i still suggest u guys that can try a short position around $7850~$7900.
Parallel Channel proved its important, Bitcoin Kinnari_PrajapatiHello! Friends,
I came with new research an idea but, before starting talking about technical Let's share your LOVE by giving me LIKES and COMMENTS . Thanks in advance.
Bitcoin is following channel which was drawn by me on 11th APRIL (I will put the link and result bottom of the page)
The breakdown point is important for long traders. I will update the new trend after breaking the breakdown. A trader can by BTCUSD at value.
=> In the last posted idea, many traders were asking "to buy bitcoin" and my replied w as:
Buy Bitcoin at gravitation line and at the value low. This bounce is exactly from Value low.
The next move projected on the chart.
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"" WEEKLY CHART ""
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This is " Price Action with Volume theory".
PART (i):
Relation of Congestion vs. Volume examination:
Herein, 4 CONGESTION found throughout VOLUME declined . 5th Congestion expected because of weekly candle gooing to closed today with both sides of the legs.
All the Congestion has low volume and after the breakout, we are seeing a single directional move.
If we are at CONGESTION phase , we will see a surge in price after the breakout. In the current case, we have more volume compared to all other Congestion phases.
PART (ii):
Patterns are on the chart:-
Similarity showed by a Black circle .
Following patterns has been detected-:
initiative movie
two triangles
rounded move with low volume
tails (while u-turn )
Bitcoin is trading in Up-Wave .
PERFORMANCE Of Bitcoin link:
BTC -3,19 % to 7261 with 50% Gann Rule50% Gann Rule: This rule tells us that a market can retrace a movement in half the time,
for example if a market takes 300 days to go from $100 to $0, it may take 150 days to return to $50.
Monero Gann AnalysisHere we have Monero or XMR over on the Binance exchange. This chart utilizes Gann in a somewhat unique configuration.
CADJPY - Setting up for big reversal All the impulse shown in white arrows are the same length. The 2 corrections marked out in the black box are near enough the same. We could see a move down to 75.25 region before seeing a reversal.
