If we break out of that longlasting channel we will breakout into a new bullmarket. Need a close above the line though. Till than, I think we stay in the channel. I see a double bottom performing on the red line which would match the trendlines. These are not 1h trendlines, these are SOLID, HUGE Trendlines just to say. Furthermore, the weekly RSI indicates,...
the bear didn't know that holiday - this day but hamsters were at longs and they "okay-okay" and also trader Hamaha from shorts came here, ha-ha!
I said I will change my mind about the market the moment BTCUSD is out of this channel. We are nudging against moving out of it right now. Here is a macro view on the down trend in it's entirety. The most recent week's candle fits right between a 50/200EMA. Our Squeeze momentum indication is turning over to positive volatility, I have marked the 6k we all see as...
"King" is moving fast and because of that will trap few breavehearts. What I mean by that? If that move is real we will see wahsout, "they" dont want Us here, "they" want Us higher, much higher. Be careful out there, either we are going to see rejection around current level ( fast correction ) or around 6000 ( thats the obvious wall of supply so...... first...
At the moment I'm using moving averages 20-50-200 and Elder's Force Index ( EFI ) and that is working really well for me in Bitcoin and other alts so I thought I would share my observations. The 20 Weekly Moving average As you may notice, the 20WMA is quite significant, during the previous bull market it acted as a significant support and has been the main...
The setup is as simple as it can get. If the support is broken, expect the bearish targets. If the resistance is broke, expect the bullish targets followed by an immediate dump.
As you can see, there are a lot of traingles above. Why traingles? Because it is very good figure to analyze charts with an upgraded cycle theory. First of all, let we compare volumes and candle sizes in the biggest traingle and in the green second traingle that has smaller size. We can reveal, that in the first traingle candle sizes has ~1.9 times bigger size,...
BTC is current exhibiting bullish momentum on the Daily and lower timeframes, with higher lows being formed and resistance ~4100-4200 being tested already multiple times (The more a level is poked, the more likely it will break). Bias is currently bullish. - A breakout from local highs ~4100-4200 will see 4400 tested. - A breakout above 4400 will see no real...
If you are one of the traders that believes we are re-creating the 2014 market cycle, I'd expect one more drop back down (especially considering market cap has barely increased this past rally (past 1-2 weeks) indicating a fairly weak bullish rally has currently been taking place) then a continuation of price action.
False breakdown > impulse > accumulation > long
Let me know guys what you think?
Using the Hall and Co trading indicator a BSO (Buy Stop Order) has been triggered indicating a local top. We should've had one for BTC but it didn't rally high enough to trigger one. There WAS however a BSO event for ETH: Looking back to the last consolidation period after the 2014 Bull we can see that there are two BSO Peaks and two massive dumps to confirm...
Bitcoin looks bullish for the next few weeks. Strong Support zone bounced and we are waiting to see the price in the next resistance zone!