BTC possible 20-25K?!Bitcoins starting to really ride the bottom bollinger band like we talked about yesterday, which if we continue we could definitely see a fall, if our 0.6 FIB or 30K level doesn't hold the next major support level is around 21K or the 0.7 FIB. Our MACD histogram is getting smaller and smaller bull wise and we are coming up soon to that midpoint where we could see some bearish bars, also the Blue MA looks like we are going to see a bearish cross very soon as we get closer and closer to the orange MA. Now looking at the Coppock Curve we are seeing some curling to the downside atleast starting too, and very rarely or ever do we see a quick reversal on the coppock curve it is almost always a gradual recovery. Today and tomorrow depending if we continue this downtrend or not is very important daily close wise, if we see a bearish close below the 0.6 FIB level aswell as continued riding of the bottom BB and a bearish cross on the MACD i think we are likely to fall somewhere in the 20-25K level. This would be a great buying opportunity in my opinion! Not financial advice!
Btctechnicalanalysis
VERY IMPORTANT FOR BTCBitcoin seems to be building up some momentum as we notice lots of sideways movement and our bollinger bands are starting to squeeze, keep in mind this could be bullish or bearish. If you look back in time when bollinger bands begin to squeeze it is almost certain we will see at some point an explosive move, aswell with the bollinger bands as you can see marked with arrows when we begin to ride the top of the band big upwards movement occurs and same with riding the bottom band bug moves to the downside happen. now noticing our candle today is getting really close to the BB specifically the bottom band which if we continue this movement we could be in for another pullback, we don't want to see the candles start riding the bottom unless of course you buy the dips! The MACD aswell is continuing with close movement of the MA's and this is a must watch as we could definitely see a bearish cross anyday now, if this happens and we start to ride the bottom BB we can for sure expect a pullback, no way to tell how big but could be smaller or normal, i doubt a large scale pullback due to the fact we just had a major one that is out of the usual for these cycles. We are seeing some money flowing into BTC but we are starting to curl again downwards with money flowing out, we gotta see some momentum from the buyers if we are going to see a reversal to an uptrend, also need volume which has been very low. Not financial advice just my opinion!
#BTC - Fibonacci support and resistanceHi,
So far, #Bitcoin broke the support and looks quite bearish, next support is 30K for double bottom support, if it breaks it, it'll invite a lot of short sellers drag it down all the way to low $20K.
PS: If TSLA confirms they sold their BTC positions, on Wednesday/Thursday SEC filing should confirm that, if that happens, it'll be a catalyst for short sellers to short BTC and push it down below $30k.
Good luck trading.
#Bitcoin - Fibonacci Channel Analysis#btcusd continues to look weak and is following a downtrend pattern, failing all support levels. It's taking all the bad news by inviting short sellers. Discouraging short term downtrend. I personally won't buy until the downtrend reversal is confirmed. Next support is around $34k, then fibonacci below that.
BTCUSD - Fibonacci Extn - Correction AnalysisChina Cyrpto ban news halted the progress again for BTC reversal, but still ~42K support is holding it well, I'm still bullish unless the bearish news keep piling on one after the other.
" When everyone is fearful, be greedy" - Warren Buffet.
~ Happy Trading
BTCUSD possible short-term scenarioBig moves are soon likely as we approach a breakout from an inverse head and shoulders pattern and an ascending triangle.
Always remember that these patterns -- although they are technically bullish patterns -- can still break down; don't place a trade until there is a confirmed breakout with volume.
BTC: Downward Pressure IncomingFirst of all, please support our work by smashing that like button or following! These really help us to reach more traders like you!
Given the 20k ATH, the 14k high, and the recent downward channel, BTC has many key resistances layered between 9.4k - 10k. The longer resistances take to develop, the harder they are to break. As a result, before these resistances are broken, our bias remains on the short side.
There are currently many differences regarding how to make sense of the recent 7-8% rise. Some believe this breaks us out of the triangle into the next motive wave upwards (either wave 5 or wave 1 of next bigger moon move). Others (like us) believe it's part of a larger corrective wave to the downside (Wave B). However, regardless of which side one is on, the one thing that we should agree on is there's at least a 300-500 correction ahead very soon. Even for the most bullish scenario (we are in wave 1 of the next bigger structure to create ATH), wave1 needs to correct, and with that many resistances, and wave 1 being the wave with “disbelief”, we are looking at a 0.618 retracement.
Do you agree or disagree? All thoughts and critics are welcomed!
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