BTCUSD REVERSAL FOR $9KAfter yet another failed attempt at $12k, sell power has caused a market reversal.
From the chart you can see a head and shoulders pattern forming and BTC might retest $9k support line.
However, this might just be what is needed to gain momentum from a new entry point at $9k, shooting us back up to retest $12k.
Bitcoinshort
Bitcoin: Short Position: Bearish BATHello guys, in this analysis we see a bear signal that Bitcoin want to drop the price again the
So, the previously candlestick is a big red candlestick, that mean a bearish candlestick that Bitcoin show, so, you can to entry in short position between the $11,480 and $11,520. I entry in short position in the $11,487.
In that case, we see the same situation a big red candlestick, htat is a previously candlestick, so good luck with your short position
Well, in that case, we follow the descendent channel, because we are in this resistance line descendent and now we touch to sell Bitcoin.
Bitcoin is into the bearish channel: Sell offBitcoin show a weakness of the price later of the rejection above of $!2,000 USD, then, I will take a short position at $11,532 USD, so guys, the time to put in short position is ahead, you can to put it.
In Daily we see a drop!!!
This is an scenario to take in noticed a possible re-accumulation and opportunity to buy cryptos.
Finally Clarity | 2 More Days Of Falling? For the past couple days we played with the idea of a false breakdown of the ascending Triangle. The price turned more bearish the more days went on. Bitcoin seems to be bullish for one period where the price bounced off of the 21 daily ema. The day still has not closed yet but the ema seems to be clearly broken at this point.
Why the question "2 more days of falling?" you might ask. On todays candle we can see a red 7. This means that this is the 7th day of the downtrend according to a perfect sequential cycle, which goes from 1 to 9. Now since we're currently at day 7, there should be 2 more days after this close of downside action in a perfect scenario. The perfect scenario should also bring us to the green buy zone. It is possible the price will creep up but at this point that seems very unlikely.
To summarize: the 21 daily ema was Bitcoins last hope. If the price closes below it today then the probability of Bitcoin going to the greenzone has increased drastically. In the perfect scenario, we should see our bottem in 2 days after the current close.
10% Bitcoin Drop This Week? Let's face it... we've seen worse. We've seen Bitcoin price drop 30%, 40%, and 50% at times.
Right now price is testing the local high from July, a very significant resistance level.
At this point your guess is as good as ours. We're not here with crystal balls. We're here to manage risk and be right more often than wrong. Now may be a good time to tighten stops or close longs.
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As seen on the chart, the yellow zone shows where market strong market supply was triggered back in July. An area that the market is now re-testing for confidence to move up. We currently expect a 10% drop to $10,500 is healthy for the overall market structure, finding support at the previous level and also against the rising tinken line from the Ichimoku indicator (shown in blue).
If the bulls can hold this yellow zone for at least a few days, then momentum can turn around and our next target above is 17% gain at $14,000.
But as of this moment we hold a short-term short bias for bitcoin.
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
The price is leading what Bitcoin do!!!We also dont have any confirmation if put in short or long, the possibilities more higher is that we could see a short movement to complete the Elliot Wave # E, becausethe we see that this candlestick of indecision is could be a change of price action and thing. So guys, we need to check out in the next 4 hours to put in short in that zone ane we need to stay if there a possible bear movement, becuase I dont have any confirmation, but the possibilities is higher to put in short to complete the Elliot Wave theory.
Now, guys is very important that we are in the weekly zone and there are fight of bears and bulls, there are a potential that have a bear trap if you see the latest technical analysis of Bitcoin if Bitcoin doesn't found up to break up the triangle. and then. There are not bearish divergence, but yes, we see 2 complicated zone, the weekly zone and the price action, because this weekly zone represetn that screenshoot below, that is a important and key point of resistance that bears could be make a trap.
The most possibilities is that Bitcoin still condolidated form long time following my study and then, another re-accumulation zone to buy it.