Bitcoin one the way 51,300Bitcoin is moving good to it's target. As you all know that weekend are also called hai volatile and might be we achieve our target this weekend or berfore.
Based on pervious analysis.
Btctechnicalanalysis
Bitcoin's reversal in play!!As you all know i recently came out with a TA regarding the bullish divergence for BTC and we have since seen bitcoin make some nice moves to the upside starting our path to this trend reversal to an uptrend after a strong short term downtrend. We are currently facing some heavy resistance at 48K aprx as we expected, this level over the past year has been either very strong support or really strong resistance pending which side we are on, now my thoughts are that we are due for a little couple day cooloff after making 5 strong green candles and posting a % gain of 19.5% from the bottom of our first green candle to the top of our current candle, plus due to the fact that we are really struggling to take back this level, we have had 4 touches and attempts at 48K and we have been unsuccessful, now we will have to see about todays daily candle at close but even then i think we could see a little cooldown for even a day than get back to business. A retest of 47.3K and 47K could be a likely scenario and a healthy one for sure if we can hold without breaking down and would strengthen these supports, we have many many under laying support levels so i wouldn't count on going to far if we do see a red day soon. On the other hand we do have many overhead resistances but honestly i don't think these levels will be much of a problem once we really start gaining momentum. Now looking at the pivot bands, many traders or TA guys may look at the bollinger bands and think we are easily going to keep pushing up to grab onto that top band but i don't think this is the case yet, thats why i put on the pivot bands, we notice we are constantly poking into that red zone and what usually happens shortly after having a few touches we see a little bit of a pushback from the bears, vise versa on in the green zone as you can look and backtest, we are on our forth touch in this zone and that is part of the reason i believe we are going to see a red day or two but like i said before there is absolutely no need to panic, this would be natural price movement after getting these 5 green candles in a row. Also to add to our support we have the PB midline which is currently acting as support just like the bollinger bands, so we have quite the solid floor below us. Now lets check out the RSI, as we can see we are currently facing some longer term downtrend resistance coming from back in early august, we look too be getting a bounce off here but the main thing is that we are once again above the midline back in uptrend territory, i've highlighted the midline because as most of you are aware we have to continue to hold this level we don't want to break below here and get stuck because like i said we are in uptrend territory and don't want to loose that already. Now the MACD is looking fantastic we are seeing steady increases in the green bars on the histogram showing a rise in bullish momentum and we are getting some great separation from the blue MA, we are quite a ways away from a bearish cross and that brings me to my final point. If we do happen to see this more than likely day or two of red candles that realistically shouldn't affect this MACD cycle due to the fact that we have big spread in the MA's and the Blue can afford to fall a little bit without even coming close to a bearish cross! Not financial advice just my opinion!
Bitcoin Next 51,300Great move of bitcoin to 48,300 after breaking descending triangle and retest, which was formed from 22nd Sep to 30th Sep.
Now price is consolidated at price of 47,300 and 48,300, no I accept it to move further to 51,300 strong resistance.
Technically here 20MA has crossed 50MA and 50MA is below 200MA which shows strong trend is still bearish.
There will be a change as price moves further above 51,300.
BTC Dominance Hidden Bearish Divergence!!!Checking out BTC's dominance i have found something very clear if you know what you are looking for and that is a hidden bearish divergence, and yes this pattern signals a continuation of trend, and we are very clearly still in a strong downtrend as shown by the multiple move path to the downside and aswell as the RSI being below the midline for months now. So by the looks of this very strong pattern we are set to continue the downwards fall on BTC's dominance meaning altcoins will thrive soon enough! Now there is a couple different ways to look at this and they both point to the same thing, look at the purple trend lines on both the candle sticks and the stoch RSI, the candles show a lower high while the stoch RSI shows higher highs which means a hidden bearish divergence! Now look at the yellow trend lines on the same two areas, the price action one shows again a lower high while the stoch RSI shows a higher high signaling once again this bearish continuation pattern! This overall is very positive for the whole market but especially altcoins, with BTC dominance likely too continue its fall as we get lower and lower we will see altcoins start to have some explosive breakouts! Now whats even more interesting and more bearish is the fact that we are actually trading wiithin a bearish pennant, this pattern is known to be historically bearish and as we approach the apex point of the pennant we can expect and watch for a breakout of the bottom of the pennant, and likely an explosive move downwards as we have 2 very very bearish patters playing out ontop of eachother! Now check out the RSI we are at the midline which does act as resistance currently but even if we do break above here i think its going to be short lived as we have strong longer term resistance directly above and this level hasn't been visited in months so i would personally expect a big rejection off here. The stoch RSI besides playing into the hidden bearish divergence is actually into the overbought zone adding to this bullish looking chart! plus the resistance levels we will face if we do move up more! Now finally the MACD still is moving bullish but that is clearly fading away as we are seeing a decline in the green bars day after day and with us approaching that midline which acts as resistance, plus we are getting very close with the orange MA so any sharp moves down will almost 100% lead to a bearish cross. Like i have said before these patterns don't have to play out the next day to still be valid and we could see this draw out over the rest of this week or maybe not, i think something huge is coming and we should start seeing this play out the closer we get to this pennants apex point which is roughly 2-3 days away! Not financial advice just my opinion!!!
Explosive BTC Move On The Horizon!!??Bitcoin has been holding strong over the last 5 days and we seem to have found some footing here above the 42730K level, we have been testing both the pivot point and our closest support day after day and it really seems to me like the momentum is building up, and that is usually the case for sideways action like this! And don't forget that we have a confirmed bullish divergence that signals a trend reversal, since we had a strong 1-2-3 move to the downside before this divergence appeared we were in a confirmed short term downtrend which means at some point we are very likely to see a reversal back into a confirmed uptrend, and keep in mind these divergences don't always have to play out the day after it could be a week before we actually see true signs of a full reversal! We seem to really be struggling with regaining this pivot point which will be crucial to our trend reversal, we have had many wicks up and above here but can't hold on, this is likely due to the looming bearish momentum that is still gripping the market. And that brings me to my next point, the MACD we have slowly but surely been seeing a push for an upcoming bullish cross, we have recovered significantly on this MACD cycle and my thoughts are that this will be the "last" red cycle, we have seen 3 strong bearish cycles here on the MACD and during our 2nd one i talked about the possibility of a fakeout with another bearish cycle, now of course thats always still possible but in think the bearish momentum is draining quickly and the bulls should be going on quite the run coming up soon, we are most likely a day or 2 away from a bullish cross and we want to make sure we see it confirm, with separation in the MA's with the blue on top and we also want to see an upwards projection from the Blue MA and i think that is very likely due to the fact that we are below the midline and like i said we have had 3 very strong bear MACD cycles in a row. We also want to see rising green bars day after day showing us growth in bull momentum! Now checking out the Wavetrend, we notice on the histogram we are slightly under the midline and bear momentum seems to be shrinking fast, we want to see a rise up and above this midline with a strong initial push, we also are getting close to a bullish crossover with our red crosses getting closer and closer to getting below our actual wave, we want to see this happen and start to give us that push upwards to start a new uptrend wave! Plus keep in mind that this indicator is a slower mover and is very unlikely to make sharp jagged turns, we usually see a full sized wave with smooth transitions into bullish/bearish waves, we are also very very close to the bottom buy zone and we usually don't see further decline from around these areas! Not financial advice just my opinion!
Bitcoin NEXT move!!!!!!!!!!!Bitcoin on it's high rally didn't continued and took reversal from 52,800 due to bitcoin adoption in El Salvador and now its moving on 42,200. Market tried to catch up price but due to aspects of El Salvador bitcoin adoption and now FUD like china against BTC. It is yet not clear tends to further fall in price tp 38,000 as china enforce on bitcoin.
The market sell-off can be traced back to developments in China, where the central bank has issued a nationwide ban on bitcoin transactions, blaming fraud, money laundering and energy consumption.
China officials are also taking aim at bitcoin mining once again. Meanwhile, fears surrounding China’s debt-laden real estate developer Evergrande also seem to have spilled over into the crypto market.
BTC Possible Bullish Divergence Shortly ago i called a continuation hidden bulliush divergence on BTC and it played out beautifully and now i noticed something very very exciting that has a very possible chance of playing out! A reversal bullish divergence, and so the main difference between the hidden divergence and the regular is that with the hidden we see a continuation of the current trend and after i called that the next day we started to run up since we were technically still in an uptrend or just starting to roll out of one, and for this bullish divergence it signals a reversal move from the current trend and we are actually technically in a short term downtrend as you can see by our RSI, it briefly regained the midline but not for long and we have since came back down into downtrend territory. My thoughts are we could be seeing 1 final flush out of weak hands, liquidations of traders and to overall put fear into the market before really starting to gain steam! you can also tell we are in a short term downtrend due to the clear 1-2-3 move to the downside shown by the path. What we really need to see happen in order for this to play out successfully is for the Stoch RSI to come down and touch roughly around the trend line i have drawn, we need to see a bounce and a reversal from around that trendline and then once we successfully do that we have a clear higher low on the Oscillator and on price action we already have a clear lower low and that will form the bullish divergence! Looking at the RSI as i said we are in a clear short term downtrend but if this pattern plays out what we want to see is a rise up from the RSI pushing through the midline at 50. and regaining this level in order for us to see another confirmed uptrend! Not financial advice just my opinion!
Very important close for Bitcoin!!!As i talked about a couple times recently this hidden bullish divergence has really played out perfectly with us starting to see some upside momentum with us taking out 2 key resistances with ease! We are currently struggling to get up and above the midline coming from the bollinger bands but we are very close to doing so! I think there is definitely a chance we see a strong push before close tonight hopefully able to regain that midline and turn it back into support, we are still quite a ways away from daily close (8PM EST) and if we manage to climb above we are looking very bullish, and don't get me wrong either way we are looking very bullish! We are facing multiple resistance spots in the 48K area but with some strong momentum we should be able to cut right through, probably not today but in the coming days so lets just focus on the midline of the bollinger bands for now! Now the MACD looks very exciting to me and looks very healthy, we have had 2 periods of bearish momentum (red) and we are finally coming to what looks like a reversal, we are continuously decreasing in red bars on the histogram and thats exactly what we want too see, it means the bearish momentum is trickling away. Now i really really doubt this would happen but have to say it so everyone is aware, there is always a chance no matter how slight that we see a fakeout bullish cross and continue for another bearish cycle, but i really doubt that and if i was a betting man i would say its not going to happen! But what we need to see is of course a bullish cross which looks like its coming soon but aswell as separation in the MA's, we want to see almost right off the bat an explosive bullish cross with the blue MA on top and starting to separate from the orange, and keep in mind the bigger the spread the more momentum and less chance of a near sight bearish cross or reversal. Also like we have talked about many times, don't overlook the histogram it tells you much more than you may think, we want to see everyday increasing green bars, doesn't even have to be a huge increase just a slight one works too, this shows growing momentum in the current cycle and how much strength the bulls have, once we start to see bars flatten out and then start to decrease we can expect a chance at a reversal once the bars return to the midline of the histogram. But also like i just said just because they are shrinking and coming back towards that midline there is always a chance we see a fakeout and then a return to the current trend we we're just in. Overall i think we have lots of upside potential here with lots of space to move up, especially because first of all we haven't even seen a bullish cross yet and we are already moving to the upside and also because the stoch RSI is pretty close to the bottom still with us just now starting to see that bullish crossover, we are just making our way out of the oversold zone! NFA just my opinion!
BTC Bullish Hidden Divergence Update! As talked about yesterday i have found a hidden bullish divergence on BTC 1D Timeframe, and this if all goes to plan is absolutely bullish for us, this divergence pattern signals a continuation of trend and we are in a clear uptrend. This pattern can be spotted by noticing higher lows in price action but then lower lows on an oscillator, the best ones i find is the Stoch RSI and the CMF. Even without this divergence i think we are definitely due for another leg up in PA, we have had a significant pullback which in times like this is needed and is 100% healthy for our overall structure and is necessary for us to keep heading upwards in a healthy way, if we didnt have pullbacks we would collapse ontop of ourselves. A good way to look at it is look at a skyscraper and the construction that is needed to build it, supports need to be built starting at the floor and more supports need to be made in order for the building or in our case market structure as we head higher and higher upwards, and if these rules aren't followed the skyscraper would collapse ontop of itself. Now i think if we start t shoot upwards i think a very conservative target for us shorter term is the 50K level or the 0.2 FIB, we will definitely need lots of momentum to breakthrough here and we could still have some trouble breaking through the first time, there are other levels in our way for sure but not as significant 47-48K i think will be our biggest challenge other than the 0.2 FIB. Very positive news coming from the MACD as you guys can see the histogram is shrinking and it may not be fast moving but we are decreasing in red bar size each day and thats exactly what we want as we come to a possible end for this bearish MACD cycle, we probably still have a few more days to go before we see a bullish cross but always keep an eye out. The blue MA is slowly but surely starting to make its way upwards and coming back towards the orange MA but we are still a bit away, and this is why i say for our bullish cycles we need to see big separation in the MA's because it lessens our chances of seeing a near term bear cross! Not financial advice just my opinion!
BTC HIDDEN BULLISH DIVERGENCE!!!Bitcoin is starting to slow down on the dip and its pretty clear and i just found something great! A hidden bullish divergence, this signals a continuation in trend which in our case is still an uptrend! we have had a healthy correction for our structure and in order to keep going up, there is still a chance for us to see a little downside but it isn't super likely, the possible level i could see is 43K which we wicked at the beginning of the dip, what im thinking is possible is a retest of 43K and i would say a likely hold of that level. Looking at the MACD we are starting to look positive on the histogram with our daily bar starting to flatten out, this shows resistance on the bearish momentum and could more than likely lead to the start of a reversal and then ultimately a bullish cross! One thing we also have to watch is the bollinger bands this is where we can further tell where we are likely heading, if tomorrow or even tonight before close we start to press downwards we have to watch for our candle grabbing onto the bottom band as we would probably fall right down to that 43K level. On the other hand we are currently seeing 2 transition candles which could also be giving us a sign, what we want to see is some pushback from the bulls hopefully going to regain the 46 & 47k levels and then another test will be the midline coming from the BB, it is now clear resistance we are going to have to break above sooner than later. Besides the hidden bullish divergence on the stoch RSI we saw a nice bounce and we are now looking for that confirmed bullish cross and separation with the blue ontop of the orange! Not financial advice just my opinion!
BTC Fear On The RiseSince our recent flash crash we have seen a decent drop in bitcoin and we are holding up on this 46K support pretty well but there is definitely fear rising in the market. It is looking honestly looking pretty unclear right now, lets take a look at the bollinger bands on the initial crash we came back up super strong and managed to regain the midline but since have fell back down, we are seeing that price action is sitting right on that bottom band and majority of the time we see this we tend to go down a waterslide. Now we could actually see a fakeout or reversal but if we do indeed fall i think we will find some support directly below us and if we dont hold that level at 45K we could see a further drop to the 0.3 FIB, now if you remember in august i was talking about a pullback to the level and overtime started to think it wasn't going to happen but that option is definitely on the table again. the MACD is not looking too great we are seeing both the MA's spread way out and pointing down with no sign of pulling back upwards, the histogram aswell is increasing in bearish bars every day and if this goes on the bearish momentum will increase until this macd cycle reverses. The RSI is looking good actually we have found support coming from a bit ago and we had a good bounce and now are pointing slightly upwards, most important thing is that we need to see the rsi make its way back up past the midline to remain still in a confirmed uptrend and if we fail to do so we could be looking at a shorter term downtrend! Not financial advice just my opinion
BTC after Big Dump | Next MoveBTC after Big Dump | Next BTC Confrimation Fully Depends on Today Candle🕯️ Closing and
If Btc today closing above 0.5 level and next day also close above 0.5 level ( The Fully confrimation BTC Bull run again Continue )
If btc test 0.5 level then close below 0.5 and next day Candle closing previous Candle low of the low ( Then 100% Confrimation Bull run over and next death cross coming in few days )
BTC after Big Dump | Next MoveBTC after Big Dump | Next BTC Confrimation Fully Depends on Today Candle🕯️ Closing and
If Btc today closing above 0.5 level and next day also close above 0.5 level ( The Fully confrimation BTC Bull run again Continue )
If btc test 0.5 level then close below 0.5 and next day Candle closing previous Candle low of the low ( Then 100% Confrimation Bull run over and next death cross coming in few days )
BTC Flash Crash Update!As we talked about this morning i thought a cooldown or retest was bound to happen but instead we got a flash crash which we have since significantly recovered from, took off the bollinger bands but if you check out the last TA and load new bars you will see that we actually have recovered all the way back up above the midline which is acting as support. Now we talked about the RSI earlier and i said we could see either of these supports catch and we actually have held up on the lower slightly downtrend support as i was saying, now the test is definitely to hold this level and if we can't a crucial level will be holding the midline on the RSI, this does act as support but more importantly if we stay above this line we are in a confirmed uptrend! Now check out the parallel ascending channel i drew, we are currently sitting right on the bottom part of the channel which acts as support just like the mindline on the bollinger bands, the key here is to see a recovery and push back up into the middle part of the channel, if we breakdown we could expect a strong push down to the 47.4K support level. Now looking at the MACD like i said earlier on that fakeout bullish cross i said we need to see a confirmation with the MA's starting to spread out and we did not see that confirm and soon afterwards we saw that bearish cross and the flash crash. Same thing goes for this bearish cross we aren't seeing any separation in the MA's an the histogram is pretty flat, if this leads into another bearish MACD cycle we will have to see bigger spread in the MA's and bigger growth on the histogram! My thoughts are that billions of dollars we're liquidated today and lots of investors & traders got shaken out because they have weak hands, me on the other hand i bought the dip today and added to one of my bags! Not financial advice just my opinion!
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!
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!
BTC Dominance About To Fall!!?Bitcoins dominance level has fallen below key support at 43.32% and we are now looking for a drop to the 41% level! This would be very positive for the whole market especially the altcoins, there could be a initial drop from dominance crashing but afterwards we will see the market start to breakout! First off on the MACD we are seeing a bearish cross with the start of a little separation, whats key here is that we see the MA's start to take off from one another and spread out lessening the chance of a near bullish cross. Like we are seeing currently we want to keep seeing rising red bars on the histogram with each one getting bigger and bigger, this shows bearish momentum and in this case its very positive for the altcoins! Now the Bollinger bands, even though we have been on a bit of a fall already we are just now starting to touch the bottom band, and usually the case if this continues is a waterslide affect bringing price action down on a slope, if this occurs this is where i think actual BTC price action will react, if theres a big drop rapidly we can likely expect BTC's price to initially fall with it. Now the EMA ribbons, which is a great longer term indicator, we notice lots of downwards pressure on BTC's dominance, we we're starting to squeeze a little bit recently but now we are beginning to see the ribbons spread out bearishly, the more the ribbons spread out and push down the further we are from an overall trend reversal, we will likely see these ribbons fully spread out in the coming weeks/month and that is when altseason will be in full effect! Not financial advice just my opinion!
BTC Hidden Bearish DivergenceFound a hidden bearish divergence on the BTC 4HR timeframe and if you aren't familiar with divergences, regular ones signal a reversal and hidden signal a continuation, so what i am thinking is that this could lead into the much talked about possible pullback i have been mentioning. As you can see coming from our recent high we have been in a little bit of a downtrend and this divergence could be signaling a continuation or lead into a pullback! Not financial advice just my opinion!
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!
HNTUSDT Technical Analysis
⏳ Spot
💎 HNTUSDT after breaking above the significant resistance and the triangle, has done the retest. it already had a rejection from the Support. It is expected to go higher
🏁 Short & Medium Term
💵 Invest Only 5% of your Portfolio
🎳 Entry at market or 22.00
☕️ TP1 24.90
🍺 TP2 26.30
🍻 TP3 28.00
🍾 TP4 29.00
🍷 TP5 32.00
🍸 TP6 34.00
🍹 TP7 36.00
🎁 TP8 42.00
🚫 SL 19.00
Good Luck 🎲
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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!
WILL BTC HOLD THIS CRUCIAL LEVEL??!BTC has recently seen a lot of upswings with a couple little red days not really pulling back much, as you guys know i personally think we are due for a decent pullback before we really get going and im thinking we could possibly see this soon. We have lost bull momentum after failing to break above 50K we had multiple touches but couldn't seen to hold onto it and now we are seeing a little bit of downside, im currently looking at this 47.3K support level that we keep testing, if we see a close below here today or in the next couple days i think we could see a fall down to the 45K level. We got 3 pullback targets, the 45K level we just talked about is slightly more than -11% from the recent top at 50K, next we have a likely level due to a little momentum shift into the bears hands and thats the 0.3 FIB (i believe is the most likely target for a decent pullback) Next we have the 38K level which is a solid floor IMO, this also could be likely and i think so because, before we go on the next leg of this bull cycle the big players will be looking to liquidate long positions, shake out weak hands and overall put fear back into retail investors, remember they want you to miss out. Looking at the MACD, like i talked about before we wouldn't really know if this was a legit bearish cross until we saw the MA's starting to separate and the histogram producing bigger red bars each day, and what do you know! We are seeing that exactly starting right now, the MA's are starting to take off from eachother and the histogram is making a bigger red bar today! Checking out the RSI we are seeing some downslope here coming out of the overbought zone but we haven't really moved much in the past day and we haven't broken through this support level either, the most important thing is that the RSI stays above that midline so we can stay in a confirmed uptrend, this midline also acts as support. Now the Stoch RSI which goes hand and hand with the RSI, we are seeing a bearish crossover and we are heading almost straight down, so from the technical side of things it really appears we are going to have a pullback and im hoping its a significant one so i can load up some bags, keep in mind too if we do cross this first support level and close below here than these indicators will follow, like the RSI breaking through the support line and the MACD starting to fully separate and have a decent fall as the bears get a little momentum! Not financial advice just my opinion!
How Much Will BTC Fall??!Looking at BTC again today after daily close and i was onto something when i mentioned earlier, about the bearish looking transition candle. Thought this sort of scenario was likely looking at how we couldn't break 50K and hardly the R2 resistance, Now we are seeing some support coming from February holding us up, it is really hard to say where i think BTC could land but i imagine it would be more than 5% from the recent top. We could see ourselves at the 45K level or even lower at the 0.3 FIB, im thinking due to the growing numbers of longs and being in extreme greed mode we are in for a decent sized pullback, to liquidate long positions, shake out weak hands, mess with emotions. Looking at the RSI we're seeing downward movement coming out of the overbought area and soon coming up on some support from the beginning of this month, we could see a hold up here for sure but keep in mind all that i just mentioned, also some support from the 50. point midline. Looking at the MACD we are seeing a bearish cross that recently printed and the overall structure of both of the MA's is falling slopping too the downside. keep an eye on this though, we have seen similar action like this like i talked about previously, we will know for sure when we start to see the histogram printing bars, if we see growing red bars we are likely in a pullback scenario especially if the orange MA is on top and we start to see big separation in them, the further they spread out the further away a bull cross is. Now the Wavetrend similar to the RSI we are starting to make a downwards move coming out of the sell zone, there's not much indication here on whether we are going to catch support or not, personally i hope we can see a dip i would love to scoop up some bags, Not financial advice just my opinion!
