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Bitcoin Rainbow Price Chart | Now , it Is this a bubble? The Rainbow Chart is not investment advice! Past performance is not an indication of future results. The Rainbow Chart is meant to be be a fun way of looking at long term price movements, disregarding the daily volatility “noise”. The color bands follow a logarithmic regression (introduced by Bitcointalk User trolololo in 2014), but are otherwise completely arbitrary and without any scientific basis. In other words: It will only be correct until one day it isn’t anymore.
BITFINEX:BTCUSD
by sachi_diary
1
ETH Dump Next Big Move | Etherum Chart AnalysisETH Dump Next Big Move 🐂 or 🐻 | Etherum Chart Analysis Now Eth follow up trend if eth hold above 0.5 level position (price above 3351) for a day then many possibilities again bull run start same for btc if btc hold 46000 to 47900+ then All alts back to bull run. Please compromise my english soo band 👇👇👇👇👇👇👇👇👇👇👇👇👇👇 ( Tele : (ALTs FUTure Analyst ) Join My channel now My channel new but when 50+ Subscribe on Telle am post everyday 5 to 7 future Signals ) 👇👇👇👇👇👇👇👇👇👇👇👇👇👇 PNL:- My trading setup :- Cross or isolated × 100$ invest × 20x lavarge = Result Minimum PNL 50$ to 100+$ in 7 to 25 Minutes × Without Stoploss Win Ratio my side 100% but Anyone small portfolio then Win ratio 75-80% With Stoploss ) Pls leave comment for any suggestions and any crypto coin chart analyst
by GursharanJeetSingh
BTC Retest/ Cooldown in play??!Bitcoins been pushing hot into the 50k+ range and we have taken out some key resistances, its looking like we are loosing a little bit of steam here and there is a chance we see a little retest or cooloff before we continue heading up! We currently are looking to test the 51.4K level and my thoughts are that we definitely need to see a retest on that 0.2 FIB level, if we can successfully pull this off and still remain above here for daily close tonight we are looking very healthy in my opinion! Looking at the bollinger bands we are looking very good we have been touching and slightly riding the top band upwards but have since let off a little bit, but even if we do see a downday today we can always push back up to that top band tomorrow or the following day! We also have the midline from the BB's acting as support and this level usually holds up a bit whether it be support or resistance! Looking at the MACD we indeed got a bullish cross but what im looking for is that confirmation, we want to start to see as much spread as possible in the MA's with the blue remaining on top, we want to see a big separation because it lessens the chance of a near term bearish cross, also the histogram is looking good we are already seeing an increase in our green bars, even though its not a big jump in bars its a start and we could be in for a nice little upcoming cycle! Now the RSI, as you notice we have 2 areas of support, one slightly trending upwards and the other slightly downwards, so we definitely have a chance of catching on of these supports which would be perfect for our cooloff or retest theory, it would be better in my opinion if we breakthrough the first support and catch the second one below, this would give our next run some room to move upwards without becoming overbought like we have recently been seeing, the most important thing for the RSI is that we stay above the 50. midline and iif we do so we will continue in a confirmed uptrend!! NFA just my opinion!
COINBASE:BTCUSDLong
by JacobR905
BTC Breakout This Weekend??!Taking a look at BTC before we head into the weekend and we are actually looking very good we have made our way back upto the 50K level, however we are seeing some expected resistance, first the 0.2 FIB level and then resistance coming from months ago at almost 51.3K. We are first of all looking for a close above the 0.2 FIB that would be huge for BTC and the market, it definitely is doable. We notice the bollinger bands are squeezing a bit and we are seeing wicks up to the top band, and as you guys know if we can grab onto this we are surely going to be breaking out to i'd say around 55K, we do have another resistance level at 53.5K aprx but i doubt it is any match for a bollinger band pump if we do see one. Now also looking a good indicator the FIB bands, we see the last fib band we have is approaching that 53.5K level, if we do see a vertical like pump that top FIB band will likely start pushing up into that 55K area. Always remember we need to see a healthy retest of claimed resistance levels, this builds healthy and strong structure rather than going straight up and completely collapsing on itself. Now check out the MACD we are getting somewhat close to a bullish cross! We want to make sure we see good separation in the MA's with the Blue on top. Now we are seeing a nice decline in the histogram with our bearish bars decreasing everyday, we want to see this continue and push into green bullish bars and same goes with this, we wanna see healthy growth in each green bar, not flat or barely increasing this would be a weak bull cross, i personally don't think that we will see that, there is lots of momentum and we will likely have an explosive run soon! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
IMPORTANT DAILY CLOSE FOR BTCLooking at the 4HR BTC chart we took a look at yesterday like i have said this is a bearish pattern and we are starting to see that now, we are pushing down and now sitting directly on the bottom of the wedge looking like we are in for a slide downwards. We are also right on the pivot point and i think if we see a close here we might be seeing a short term trend reversal, or atleast a pullback, dont really know how far down we will go we do have lots of support, im thinking atleast to the 0.5 FIB level which is only a 4% drop or so, but if this plays out we will have to take a closer look at that time, as you guys know i have been predicting a pullback for some time now and over on my daily TF i have layed out 3 possible pullback scenarios ranging from -11% to -23%, both are valid as in 2018 we saw many pullbacks ranging from 15% to 40%. We definitely have to keep an eye on these bollinger bands, we are creeping down to the area of the bottom band which is always pretty dangerous, if we continue to see some drawdown we are looking at a chance of grabbing onto the bottom band and sort of watersliding downwards. Now checking out the MACD we are seeing a strong bearish cycle here with a recent bearish cross, we are seeing increasing red bars each one and i feel like we got a couple or a few more to go before getting that reversal, I think this due to the fact that the Blue MA's starting to separate pretty far away from the orange and the longer and further this goes on.. the longer we will have to wait for a bullish cross! Personally really hope we see a significant pullback soon i will definitely be going into the market loading up my bags getting ready for that next big push!
BINANCE:BTCUSDShort
by JacobR905
BTC bearish ascending wedge 4HRBitcoins moving within this bearish ascending wedge pattern and is also getting held up by some resistance levels. We are seeing a struggle to get above this 49.2K resistance level, we also notice the ichimoku cloud is getting a flip into bearish territory, we could see a pullback coming up soon here, especially if we get rejected off this level for our daily close and due to the bearish ascending wedge. Also looking at the RSI we are getting held up at this resistance that is slightly above the midline, this could pose an issue for us to keep climbing up aswell. Like i have been saying in my recent BTC analysis's we could be in for atleast a 5% pullback which would land us around the 0.5 FIB, now if this happens there is a chance the pullback could go on longer and could see an upwards of 18-24% to the downside, but we will have to dive into that later on and even if that happens. Looking at the MACD we are actually looking pretty good, we have gotten a tiny bounce when it looked like we were going to see a bearish cross, keep in mind we still could for sure if we see a bearish daily close tonight or even some slight downside in PA, since the MA's are so close together it is pretty hard to determine where we are headed on the MACD, we gotta watch it closely, and if we continue bullish like we currently are or even if we see a bearish cross we have to watch for separation in the MA's if we are going to see a real bull/bear cross. Also the histogram shows you a lot especially the momentum the bulls or bears have in that specific MACD cycle! Not financial advice just my opinion!
BINANCE:BTCUSD
by JacobR905
BTC Ramping Up For Weekly Close!Bitcoins looking very bullish coming to our weekly close tomorrow, we are seeing a month long of higher highs each weekly candle and a very close push to 50K. I previously said in a TA awhile ago i think we would see a 50K BTC before we really see a decent pullback and i honestly switched my view because i didn't think it was going to playout but now we could be back on track with that prediction, if we do see a pullback i don't think it will last long buyers will be looking to eat up the dip including me. Plus it would be a very healthy move for our overall structure. None the less though we are still looking insanely bullish on a lot of indicators, first of all the EMA ribbons haven't flipped bearish on the weekly at all, we had a slight pinch in the ribbons but now we are starting to open back up with bullish momentum, the more we see the ribbons push up and separate the more momentum the bulls have and the market has. The MACD looks very very good we are almost getting a bullish cross, i think we will see it in the next day or so, we ideally want to see a explosion like move from the blue MA, separating away from the orange. We will likely see a very nice run coming up soon due to the fact that we don't see bull or bear crosses often on the weekly MACD, last time we saw a bearish cross was around the end of april and last time we saw a bullish cross was in OCT 2020! Exciting times in crypto right now we are getting closer and closer to ATH's and could see a nice resume to our cycle soon enough, even if we do get a pullback i think it would be a healthy one that is needed. Not financial advice just my opinion!
BITFINEX:BTCUSD
by JacobR905
BTC Pullback Coming soon!??Bitcoins pullback may be coming sooner than we thought or atleast i thought, i've thought about it for a bit and came to a likely scenario, if we think about how the major crypto players and whales move markets we could likely assume that we have to be in for a pullback before we takeoff back into our ultra bullish cycle, now a move like this (which is very common) eliminates or shakes out a lot of weak hands and liquidates tons of trade positions, also it really messes with peoples overall emotions when it comes to crypto which is their hard earned money and that can tend to make people make irrational decisions. holding is key remember that. Now to the technical side of things, we are currently right above a weaker support line at almost 44500$ and we are seeing a bearish day and of course bear candle, if this continues and we close off the day with a red candle this gives the bears some momentum, which personally i think will shred right through this support level due to it being weaker. I have a likely path drawn out which might be a bit conservative but we would soon land on the 0.3 FIB level which is a pretty strong support and could definitely hold but again if we think about the bigger players they likely would want more fear for retail investors so we come down to potentially our next level at 38613$ which again is a very strong level that has been around for months now. With the bollinger bands i think if we start to see a pullback the midline of the bb's which act as support will most likely closely line up with the 0.3 FIB, could be wrong but either way i think pullbacks are a blessing especially in times like these, they can provide you with very good entry points. Both the RSI and Stoch RSI are dipping, we are starting to see the blue crossover the orange bearish on the stoch RSI and on both we are in the overbought zones, starting to curl downwards too, definitely think there is something coming and i hope i am right and able to catch it! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
Bitcoin Dominance in for a Crash!!?Bitcoins dominance has been pretty stubborn holding this support level at 45.74% but i think in the coming days we are going to see a decent sized drop in BTC dominance, we have wicked below this support level and are slowly coming down trying to push through it, lower dominance will be key for altcoins to really start exploding, same thing for BTC, we saw low dominance levels a couple months ago and we were seeing nice pumps in PA. What i noticed that could be very important is that todays candle/wick has touched down on the bottom band of the BB's, if we can see this continue we will likely be in for a big slip to the downside, now at first this could pullback the market a little bit but afterwards Altcoins especially will begin to rally, If we do see a drop in dominance it will be key to have that midline on the bollinger bands which right now acts as resistance below the support we are stuck on right now, this gives us a second layer of resistance so pumps back above this support are more unlikely. Im hoping if we do take a ride down the bollinger bands it gives us enough power to push through the next support level at 44.6%. The MACD is looking very positive for this prediction, we are a long way away from a bullish cross especially with our MA's seeing bigger separation, the Blue MA is pointing down pretty heavy leaving the orange behind and we are seeing bigger bear momentum on the histogram. Now the WaveTrend also lines up with this prediction we are almost pointing straight down and we are now passing through the mid section where it was the most likely spot for a reversal, we are likely about to see another bearish wave on the histogram here it looks like it is already starting with no sign of slowing down, ALT Season may not be too far away! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC to 50K then a pullback!BTC has flipped longer term resistance back into support and we are pushing up towards that 50K level , i think we are going to see a push upto here but it is pretty heavy resistance so i wouldn't be surprised if we saw a bounce that turns into a pullback, as you can see in my drawing i think we are going to touch 50K but then come down to the green support we just flipped, afterwards i think this level will hold and we will go back to attempt to break the 0.2 FIB/50K and i think we will have the momentum to do so, what is key is that we have that restest of 50K and hold it, we cant shoot right through without retesting this level to build up support. Looking at the bollinger bands we are getting back to almost riding the top band which is key for igniting a big run as we have seen in the past, remember too the midline on the BB's acts as support if we are above it and i think when we see that push to 50K that midline support will line up around the green longer term support drew. The MACD still has some gas left as we continue to push upwards with the Blue MA separating slightly from the orange, this is apart of the reason i think we still got room to climb to the 50K level, before then most likely seeing a bearish cross. The Wave trend aswell i think has some gas left in the tank after we just reached the top of the zone, we don't always see an immediate fall after we reach the top, i mean just look at ETH our WT has been in the top zone for like a week now lol. We are still pushing upwards and could see one final push upto 50K before then coming back down on the pullback, resetting our indicators ideally and to get ready for that next run up! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
2
50K Bitcoin coming soon!!?Bitcoin has been continuing to push upwards after having a few day cooloff, we have pushed right through the R1 resistance and what im looking for here is a hold for daily close, this will look super bullish if we can pull it off! Im looking for a push upto the 0.2 FIB level or aprx 50K, i think this level is definitely achievable but the thing will be can we breakthrough this level, we may get rejected the first time but after a couple im sure we can break it. Also we will be faced with the R2 resistance which will be another challenge. Taking a look at the MACD we remain looking bullish, we had a very nice bullish bounce from the blue MA, we are starting to see greater separation which is key, we got to stay away from that bearish cross, Histogram aswell looking good with out bars growing each day rather than flattening out, if we can keep seeing growth in the green bars we should expect some nice upcoming green days. Finally the Hash ribbons which are super important and a very legendary indicator, as you can see we are slowly coming out of the consolidation phase and we could soon be seeing that rare "buy" signal, historically this buy signal was followed with massive gains, and looking at the depth and dragged out consolidation period i woud say my 50K price target is very very conservative. Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
MUST BREAK LEVEL FOR BTCBitcoins went on a beautiful run after i predicted we would see 28k before we see 40k and now we are sitting right below a very crucial level for BTC, at some point in the coming days we definitely need to break through this 40-41K level or the 0.3 FIB. A break and hold of this level will turn my sights fully bullish as we have been stuck in a sideways trend from 30K-40K for a couple months now. Looking at the bollinger bands we have took a very big ride up the top of the bands like i talk about a lot of the time, we had enough momentum to reach the 0.3 FIB but seems like we ran out of gas for the time being, i figure we could see a couple cooloff days like we are seeing today or even a single red day before we keep pushing up, remember that we need structure and can't simply go up without creating any supports or getting footing. The MACD looks very bullish with our histogram printing big green bars getting taller and taller on each one and our Blue MA has completely taken off away from the orange which is definitely a positive sign and gives us room to have a couple cool off or bearish days without actually getting a bearish cross. Also what i noticed on the Hash ribbons one of the most powerful and accurate indicators is that we see the capitulation starting to shrink, the ribbon is starting to come back together and at some point when the bottom ribbon crosses the top we should get that legendary buy signal which has led to some serious gains in the past, in recent runs we haven't really ever seen a capitulation period this large before and what im thinking is that we could be in for a absolutely massive run once this is over! Not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905
BTC primed for a move to the bullish pivot point!Bitcoins moving up quick after i predicted we would see 28K before we saw a bigger move up to possibly 40K and that just about happened perfectly, we got the bounce a little over the 28K level and we have been pushing up since! Now what i think is likely is we could see a little breather day maybe even a slight red candle but it looks like we are ready to keep moving after that! If we can get a daily close here above the 0.5 FIB level that would be very bullish, we aren't too far away from that pivot point where we can really rebound to the bullish upside. Looking at the bollinger bands you guys might know what i am gonna say lol.. but we are getting super close to grabbing ahold of that top band where we could then really start to go for a ride to the upside, this is where my prediction for a little breather day comes from, if we can settle cool off and find footing above this 0.5 fib level we have a very good chance of getting ahold of that top bollinger band, and thats why i think we are going to climb to that bullish pivot point! Checking out the macd we got a very nice bullish cross where we are now seeing big separation in the MA's the blue is taking off from the orange, which is definitely a positive sign, also gives us some room to have that cooloff day without getting a bearish cross! Think overall the crypto market is starting to heat up again with BTC dominance slowly falling back down we should be back to it in no time! But like i have said before i am more neutral until we cross that 40K mark, than my view is switched to bullish and if we cross below 30k and stay under i would be bearish! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
UPCOMING BTC REJECTION!??As i have shared in my previous TA's i expected a drop to the 28K level before then coming back up as shown by my drawing and we we're very close to hitting that exactly! Now taking a look here we got a possible upcoming rejection for BTC, Looking at the bollinger bands we are fast approaching the midline on the bands and this is for the time being resistance and we could possibly see a bit of a bounce off here pushing us a little bit downwards, but i do think we are going to be starting our recovery as we speak. Now also something that correlates perfectly with the bollinger band resistance is the RSI, as you can see we had a longer term uptrend support on the RSI that is now flipped into resistance and this level has proven to be pretty strong, we are a few hairs away from this resistance just like the midline on the bb's and thats why i believe we could definitely see a rejection here for the time being. Now if we do break this uptrend resistance we then face resistance of the actual midline on the RSI, so for the time being i think we are going to see a bounce off to the downside, if i was a betting man i would easily bet on a rejection here. looking at the pivot points we do have a fair ways to go before reaching that pivot line where we could then reverse to the bullish side of things, i have said before a few times, if we are in between 30k and 40k i am neutral, for the reasoning of because we have been in sideways movement between these levels since may and i don't think it would be logical to be bullish or bearish until we either break 40k or we break 30K, the sideways movement is unpredictable and is way to hard to predict exactly where we are headed again until either of these levels are broken! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
BTC 28K!!?As i was talking about previously btc has begun a slight pullback out of the bottom of the wedge and we got a bounce today around 30K which has held us up so far, we could still see that 28K level i was talking about before, there is still lots of bearish momentum pushing us down. There is a chance that we start to recover but i wouldn't go that far yet especially without a successful retest of the 30K level we bounced from today. we are still in a very dangerous spot as our candles are riding the bottom of the bollinger bands which almost always gives us some downside, we havent really seen a big drop along the BB's but like i said this pullback could still be going on and waiting will be the only thing that can provide those answers. The RSI has dropped pretty hard aswell with us not even coming back to the uptrend support to retest it. we are getting closer to the oversold area but still have a bit to go, thats another reason i think we could still see some downside which would more than likely push that RSI into the oversold area before then coming back up with price. The Hash ribbons aswell are still extending in this capitulation phase, and for the real bull run to start back up again i personally have to wait for these hash ribbons atleast finish the capitulation cycle but ultimately print that legendary buy signal, at that point i would be fully confident in a btc and full crypto market recovery and ultimately the next leg up in this bull run! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
BTC Fall is sparkedBitcoin's broken out of the bottom of our descending triangle and is looking pretty shaky as of right now. looking at the RSI we blew right through the uptrend support and we are now falling towards the bottom of the RSI channel, still a bit away from oversold aswell. Also yesterday we saw a bearish cross on the daily MACD but we aren't seeing much separation in the MA's so that is something to watch. Something that is a little worrying for BTC as of right now is the bollinger bands, we are directly sitting on the bottom band and we definitely see a big dragdown if this continues. I think we are going to see this pullback and i think it is pretty likely that we see a 28K atleast BTC price, from there if thats all that we fall i would say we will see a pretty quick recovery. Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
BTC 28K before 40K!?Bitcoins following along its sideways path and we are almost at the end of this wedge/ pennant. It does look like we are going to slip out of the bottom of this pattern and i believe a pullback is coming before we have our next leg upwards. I think we are due for a pullback not for the fact that we have been shooting up in price but the technical fact that a lot of indicators are shorter term bearish. We see the EMA ribbons which i have talked about before are fully spread out bearish and is constantly pushing down on us with bearish momentum, and this type of indicator doesn't flip back and forth in the matter of a few days time it usually takes quite awhile like a few weeks or a months time, we gotta start to see the full flip to the bullish side before i could say we are definitely back into a bull market, theres just too much momentum on the bears side right now. Also the bollinger bands have been squeezing pretty hard on our candles and that always tells us that a big move is coming, the problem is it doesnt show any direction, but as we keep pushing closer and closer to that bottom band we risk having a significant fall riding the bottom band. i would say it is likely we see atleast 28K before pushing back up, we have a potential zone we could further fall to and thats 26.5K or the 0.6 FIB level. Finally the MACD is hanging on by a thread for the bulls we are any day or even minute about to see a bearish cross which i think is going to spark this pullback, unless somehow we reverse the MA's and the Blue starts heading back up, which personally i think is highly unlikely. Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
BTC AT RISK OF PULLBACK!We are quickly approaching the apex point of this wedge/ pennant and BTC is looking a bit shaky right now in my eyes, we got big time rejected off the midline of the bollinger bands and aswell the top of the wedge now cruising towards the bottom of the wedge. What catches my eye the most is that if we breakdown further and out of the bottom of this wedge we will be sitting on the bottom bollinger band which could result in a huge fall with not super strong support to catch us. we would likely fall to 28.5K support but my worries are if that level breaks due to the huge bear momentum from the bottom bb we could see a bigger fall all the way to 26.5K aprx or the 0.6 Fib Level. The Macd has been pretty stagnant over the past couple days and we are almost about to see a potential bearish cross that could jumpstart this pullback, the blue MA is quickly coming up on the orange with both ma's beginning to turn to the downside, aswell the histogram has gotten very weak and is looking like we are going to see some red bars in the next day or two. Now one of my favorite indicators the hash ribbons, this is a very very powerful indicator that rarely prints a buy signal, but when it does huge gains follow, i highly suggest back testing the hash ribbons to see what im talking about, now we have seen 2 periods of capitulation recently with the first round not printing a buy and this round being very extended, if we do see a buy i imagine it will be after a pullback or nearing the end of july. Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
30K BTC!!Bitcoins continuing on this sideways path but has recently been really sticking to the 0.5 FIB level. We seem to be getting held up here and we are now facing 0.5 FIB resistance and also the midline on the bollinger bands, we are seeing some more squeezing from the bb's and if we keep going this way we could get a big move in either direction. I think we could see some movement soon and i think it'll be to the downside, most likely 30K but even our pivot point at 28K i think either of these levels will provide us with a bounce back up afterwards though. We do have be careful with the bollinger bands though because if we start to slip and start printing candles on that bottom band we could see a fast move downwards maybe even bringing us to the 0.6 FIB level. The MACD aswell i believe is a little overdue for a bearish cross after we have been seeing lots of green on the histogram, we did get a small bearish cross a little bit ago, but didn't last very long and didn't really fall at all. I believe we will see some more bearish or sideways movement until august before resuming our bull cycle, and i look at these times as great accumulation periods. Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
Very important close for Bitcoin!!!Bitcoin has recently been cruising around the 0.5 FIB above and below and now we are coming up on our monthly close and this is very important. it looks like we are going to see a very close one as we sit almost right on the 0.5 FIB on the daily and monthly. If we do see a close below the 0.5 we could see another bearish sideways month for BTC and crypto. Not 100% convinced even if we close above the 0.5 FIB though, we have lots of indicators that need to flip back fully bullish. The EMA ribbons being just about flipped fully bearish we need to see a start of resistance and ultimately get some bullish momentum going, that also could happen in july if we start to see some bull momentum we could start the longer process of al the indicators working their way back to bullish. Looking at the bollinger bands we aren't really in any danger of slipping more it looks like since we are far away from the bottom band. But we are getting rejected a couple times in a row now by the midline showing we are still trend for the most part downwards. Which brings me to my next point, the RSI rejected off the midline again and we are heading back down, and this might sound like a broken record but we need to get above the 50. point and hold it if we want to be in a confirmed uptrend again. Until then we are considered in a confirmed downtrend. Lastly the MACD we are seeing a recent buy signal but not much action with now our blue MA starting to curl down towards the orange and its looking like we could see a bearish cross soon, unless we bounce off. It's really hard to tell exactly where we are going because of all the sideways movement but i guess we will see another couple weeks to a month of sideways, slight down and up movement while hopefully those important indicators start to recover, especially the 50 day SMA and 200 day SMA, we really need to start seeing a recovery with those as we recently experienced one of the most bearish indicators out there known as the "Death Cross" Not financial advice just my opinion!!
COINBASE:BTCUSD
by JacobR905
BTC Monthly cooldownLooking at bitcoins monthly chart and the first thing i realized and said to myself is "this could easily be just a cooloff or correction in the macro perspective" and that is exactly what i think. We had an explosive 6 months previous to these 3 and it really does make sense that we need a break or cooldown, and that goes for everything, we need structure/ supports/ floors in order to keep heading up, now if all continues this way we will have a decent looking monthly close for bitcoin. The key here is to definitely stay above the 0.5 FIB level like we managed to do last month and even better would be to close above last months close around 36K. Even if we don't do any of this we could still see another month of bearish momentum which is kind of likely looking at everything from a technical standpoint, but the point is this will be a tiny blip on the macroscale and a much needed cooloff, 6 months of super bullish momentum and im thinking 4 months of cooloff and then we should be back to it. Also this sort of scenario doesn't faze me really, i actually like it for the fact that i can buy more crypto at discounted prices. If you truly believe in blockchain and crypto as beneficial for the future you shouldn't worry and do not let the emotions cause you to make poor decisions, this whole space may feel like we are late but in fact we are super early imo, big companies and institutions only started buying last year and even looking at that is a very very small number of "big money" compared to what can come, countries are starting to adopt crypto and that in itself should say something! Not financial advice just my opinion
COINBASE:BTCUSD
by JacobR905
Bitcoin heading to 20K??Bitcoin took a hit today like alts did and we have rallied a little bit back up but i am not convinced the drop is over but thats my opinion. We seem to be getting stuck underneath the downtrend resistance coming from our ATH. We are looking a bit positive for our daily close coming up soon jumping back up from underneath the 0 FIB level. The MACD is holding up a little but we are still pointing down heavy and we would need a full reversal to start seeing some real upside. What concerns me the most is the SMA Death Cross of course, the bollinger bands and the EMA ribbons. We are riding the bottom bollinger band with our candles and if we keep it up like mentioned in recent TA's we will likely see heavier downside. The EMA ribbons aswell, are really almost fully flipped bearish and if we start to see separation in the ribbons with red on top the longer we are away from seeing a real uptrend and reversal, i say this because these ribbons don't flip over night as you can see looking to the left it takes quite some time and that's why we have to watch these. Now looking at support levels, the 0 FIB is getting weaker everytime we wick past it or onto it and once that breaks we are looking at 27.5K which is honestly pretty weak, but there is a chance we bounce off as we haven't seen it in quite awhile, but that depends if this very bearish momentum gains more steam. After that we see 20K aprx which is the next major support we have, we do have weaker supports in between but i would doubt they last very long with this downside pressure. Not to concerned though i view crypto as a longer term game and i don't mind when situations like this happens as i usually pick up more, not just BTC but some of my favourite alts aswell! Not financial advice just my opinion ps. If you have a plan stick to it and dont let emotions mix up your thought process causing you to make poor decisions!
COINBASE:BTCUSDShort
by JacobR905
BTC Possible Climb up the Bollinger Bands??!Bitcoin has rallied pretty well the last few days after heading sideways for some time. We notice price action has pushed up towards the top of the bollinger bands, this could be 2 things, we could see a big climb up the top of the BB or we could see a fakeout sort of like what we saw at the top left of the FIB retracement. I personally think we could see a mini run up to the 0.3 FIB and then get rejected most likely, i doubt we would see a big fakeout as we haven't run up that much compared to times before, IMO we are seeing wyckoff accumulation pattern playing out or starting too, thats where i think we will see a rejection around the 0.3 FIB. The RSI is coming down towards the 50. point i think we could see a little bounce off the midline and then most likely fall back down if we reject of the 0.3 FIB. The MACD looks pretty damn good, we are seeing great separation on the MA's pushing higher and no signs of slowing down! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
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