Uh Oh.......H&S are always good, right ?? Save yourself, every man for himself if this plays out below the neckline.....
BTCGBP trade ideas
Fakeout.....Bearish divergence, watch as the RSI touches the downtrending line, break above bullish...if hits and rejects, going much lower
Good time to stock up on more coin?Following previous 4-yearly cycles, it seems this is around the last time to stock up on BTC before the rise & fall back to same price as now.
Consolidation time?Nice pump over the last couple of days, which provided a big leg up from previous sideways movement at just under $60k.
Does that previous consolidation demonstrate the market is slightly more considered and patient during this bull run? I anticipate another period of consolidation between $62.5 and $64.5 before the next leg up to around the $70k mark.
Personally, I will look for some small short scalps between the key areas of support and resistance, but ultimately remain highly bullish. The Pi-cycle has predicated a top, but I don't see it (unless a local top to be superseded later in the year). MVRV-z and Stock to Flow suggest this run has a long way to go.
Bullflag formingI believe we are currently in a brief reconciliation period for BTC, for which I am taking a very small short position, but overall outlook remains highly bullish. I anticpate a bounce around the key support level of £40k ($55.5k USD). Upward trajectory will be defined by the upcoming waves in the next day or two. I'd forecast the next pump to take us to around the £47k ($65k) level.
BTC - big correction incommingLooks like a perfect bearish rising wedge... basing on pattern trends, that would suggest a bearish run is incoming.
Simple mind, simple analysis, simple idea. Who knows really what’s next for us, welcome to crypto 😂
Theres a Head and Shoulders on the HourThe H&S is also within an uptrend, and is bouncing inside a symmetrical triangle. Despite the downtrend these last few days, I would suggest the start of a reversal and trend change is on its way.
Before we see this however, I will further add that we will most likely see a test of a primary level first before we see a spring that signifies a trend reversal and bitcoin starts mooning.
However, if Bitcoin shows signs of weakness and the daily MACD, continues to signal a further downtrend then I believe we may see our biggest drop yet of around 40% before we see a macro spring, that then continues to moon after the whales have shaken out the weak hands.
In conclusion, I personally still remain bullish. Diamond Hands Baby!
Moon On!
Bottom's in?Hi all. I'm a new recruit here, only getting on the BTC bandwagon a few weeks ago. This is my first published chart... too many lines???
Onto the analysis, from my perspective it appears the bottom of this 3rd consolidation has been reached, and waves seen over the last few days point towards direction of travel for the next pump. Target estimated around the £48k mark ($66k USD)
Also shows some of my attempted scalps on the way down from the ATH. Some wins, some losses, but lots learned! Let's see what happens over the weekend.
BTC - support at 36k? Ideas welcome!Considering BTC smashed through the previous support level of 38.5k, a 1 month view of BTC movement & a fib retrace would suggest next level of support (61% on fib) is 36k.... lets see what happens!
Certainly still stand my previous post about expecting a very bumpy ride this week, hopefully as we edge into April, the bull volumes start to take over.
Let me know your thoughts, very much in my early days of trying to understand charts, patterns etc
BTC - EMA crossover.. are we already seeing the bull market?Here's me using the simple EMA analysis. When a short range EMA crosses above a longer range EMA, that would usually mean an uptrend is on the way.. vice versa when the short range EMA crosses below the long range EMA, we have a downtrend. Those can be used as buy/sell signals.
Just a reminder that my analysis is using 15 minute candlesticks... the story remains quite grim when you stretch it out to 1hr candlesticks with the short range EMA still well below the longer range EMA. Although hopefully the reversal we are seeing with 15m candlesticks will last long enough to materially impact the 1hr EMAs.
A BTC bullish pattern?Are we seeing here a cross between a flag and pennant? if so could be an indication of a bull run just round the corner...
Anyway, back to my other ideas I published, I do still believe this will be a bumpy few days, but still bullish in the long run.
BTC - looks like strong support at £38.5k - (fib + osc)That rock bottom horizontal line seems to show the support is very strong at 38.5k - backed up by my previous post re fib retracement & oscillators.
In terms of what the future holds, it does appear to be a repeat from this time last month - in my opinion, the third week of the month will usually be a bear market as the pay check wears off= more sell orders.
In the long run, I'm bullish because there's a lot of institutional investors inc Tesla who are fully invested in BTC. A BTC crash would result in a Stock crash of those institutions, the manipulators will not allow it!
Descending Triangle. We've been here before.As you can see from the chart BTC is forming a descending triangle very similar to the one before, which it eventually broke out of. This one is smaller and represents a fairly minor consolidation pattern in my view. There is lots of support underneath from rising moving averages, previous trend lines, and previous horizontal support levels. Price floor is at £31k if these support levels fail to hold. I am still bullish and expect a breakout of the descending triangle just like before, this bull market is volatile, as they always are with bitcoin, but if it fails to breakout then that would indicate that the market is running out of steam.
Will BTC hit the trend line? Will we see BTC hit the trend line...? Again this aligns with the past 2 fib retracements
BTC support at £38.5k?..New to the game, drew a couple of fib retracements which would appear to highlight the price not dropping below the 61% (£38.5k) mark. Could we see a bounce at 38.5k... time will tell.
BTC support at 38.5k?Based on fib retrace never dropping below 61% in the past 2 uptrend. Will this drop respect the fib retrace at 61% (aka £38.5k)... time will tell right?
BTC support at £38500??Based on fib reta events, can’t see it drop below 61% (38.5k)... therefore buy in at 38.5k?
LONG BTCGBPHELLO
IM EXPECTING CORRECTIVE WAVE 4 WILL TAKE THE SHAPE OF TRIANGLE AND THE 5TH WAVE WILL EXTEND TO 4.23% FIBO OF THE FIRST UP IMPLUSE TO MATCH 261 % OF PAST IMPULSE AT THE 51000 LEVEL
