STRUGGLE TO HOLD ABOVE THE PREVIOUSLY BROKEN TREND LINE!According to the daily chart, the pair is struggling to hold above the previously broken trend line. In such cases, there would be small chance for a bounce. If our analysis was interesting for you, please support us with your kind likes.
BTCEUR trade ideas
50 day window miners dump bitcoin for price above 10000 closingTill end of the September the window when miners dump their bitcoin for price above 10 000 is 50 days.
This one is closing in 2 weeks.
Taking into account that in New York luxus properties already crushed more than 60% in price I expect similar crush in bitcoin till end of this year.
6000 is the dip to buy some.
btceur Ascending triangle formed. Break out will set directionAscending triangle is formed in Bitcoin chart.
Breakout in this week will be the decision maker and set the direction where the travel goes.
Break above 10500 €uro ~ 12500 $ will start the pump rally.
Will bitcoin not hold the 10000 till Monday, the crush will start.
Uncharted waters?1) Looking the daily chart over the last 3 years, it looks like it is the first time we cross the R1 resistance level
2) I can't find any other solid channel in which BTCEUR now is, besides the green channel which has only recently formed. However the channel seems to end at about 12.000
Do you think we may see a major pullback below the major R1 level or BTCEUR is heading to form a higher resistance level?
Correction has come, but how large?Hello hello beautiful person!
The divergence in RSI and other indicators have present for some time, but the FOMO in DEFI has been an amazing rally; combined with an above normal public awareness in internet and Televisions.
We are seeing a correction now, but the question is: how strong, and is this the one I have been anticipating?
T he chart
The chart is in Heikin Ashi, NOT price candle
RSI is showing divergence
Stochastic is showing divergence
CCI is also having divergence, but most importantly has not crossed to negative area (but in price candle chart it has)
Nearest strong support is EURO 9526, which we will hit if the correction is of any noticeable strength. If it is not hit, I believe that the hype will continue until previously suggested month.
Strongest support is area around EURO 8338 - 8000, which is a combined highest volume price level and previously tested support line.
Conclusion
There is too many moving parts in this economy now that is mixing with BTC, and makes it close to impossible to make any safe`ish TA predictions.
The world are seeing a spike in the number of infections as predicted, and larger companies have reported negative financial reports as predicted.
It is unknown how the nations governments will react and how the sentiment of the market will respond.
The overall notion I have is that BTC will increase as well as adoption, but I am not convinced it will happen this year as many others believe.
It all depends on how much the nations governments around the world can and will do in order to try and protect the bubble, because we will see more negative numbers or stagnation on balance sheets (on many of today large cap companies) this year and next year.
If nations are "all in" to protect the bubble, I believe we will not see the "real" rally of BTC until next year (inflation from fiat included), but we will see a good increase in price this year.
The good price increase, I would reason as a trend along with gold. Insecurities in the market and investor hedge in BTC, and precious metal.
BTC UP - THE SECRET INDICATOR SAID IT BACK THENHello, the secret indication was correct: BTC was not retracing to 7k but rather going up (SEE THE LINKED IDEA). This is not to drag, but as a confirmation that the secret indicator works and can be used as a great confirmation. Please note I said confirmation. It has not to be used as the one and only rational for an investment decision.
Said that, it still shows a 26% upside still as per the chart below.
Also, the BTCEUR chart is clearer than the USD one, showing a clear restest and accumulation phase above the support. We can also see a triangle with the same exact target of the fibo extension
targets is 10,900-11700 EURO
