BTCUSDLONGS trade ideas
BTC/USD 105 MinBTC is in a Long neutral ....... is Ready to Brake a apparent weak supply zone, is between $58100 and $60000, if BTC break hard 60K it cam reach 61K and 63K but if not pass 60K with power then turn down to Sell if Turn down in 57K and 56K, if brake 60K can reach 61.5K if brake 64K can reach 65K and rejected in that area forcing sideways or down the price.
Multi-Timeframe Analysis: BitcoinHourly Chart: Expanding Triangle(Bearish)
Daily Chart: Bearish Flag + Doji followed by confirmation Candle at 0.618 Fibonacci level. (Bearish)
Weekly Chart: Closing below Flat Top triangle for 2 weeks, and Bullish Engulfing after a Spinning Top and confirmation. (Neutral-Bullish)
Monthly Chart: Spinning Top after 13 months of Parabolic price move.
Change in Average Dollar Value of Trades: in the first 4 months of 2021 in comparison to the last 4 months of 2020.
Conclusion: Bearish is the most probable scenario.
Moshkelgosha
Educational Articles:
1-Triangle:
www.investopedia.com
2- Retracement vs reversal:
www.investopedia.com
3- Fibonacci Retracement Levels:
www.investopedia.com
4-Flag:
www.investopedia.com
5- Bullish Engulfing:
www.investopedia.com
6-Spinning Top:
www.investopedia.com
7- Parabolic uptrend:
www.investopedia.com
look on bitcoinsome consolidation but exponential phase yet to come
trend development can be divided in start phase, acceleration phase and an exponential phase, we already got a very long start phase and currently ended the acceleration phase of bitcoin, this gets way clearer on 4 hr timeframe, im so far assuming exponential phase is yet to come,
this is also fitting perfectly to the halving cycle, according to which we will see a bullish continuation for minimum 3 to 6 month
Updated target for BitoinBitcoin failed to close above its 50EMA and the most probable scenario could be another down leg to 41k.
Bitcoin was 63800 when I said history could repeat itself and compared the Coinbase IPO to Emil Oldenberg selling all his bitcoin indecember 2017.
One Swallow Does Not Make a Summer (or Spring)Meaning:
A single instance does not indicate a trend.
The fable related to the expression goes something like this:
A young man spends all his money on gambling and luxurious living until he has just the cloak on his back to keep off the cold weather. Seeing a swallow fly past on an unusually warm day, he concludes that spring has come and sells his cloak in order to be able to place one more bet. Not only does he lose the bet but the weather turns cold again. He finds the swallow frozen to death and blames it for deceiving him. In some versions the young man also dies.
www.bookbrowse.com
I still believe Bitcoin trend has changed to bearish in the longterm and it will not be able to reach new highs!
Don’t believe it, read this:
Learn from Tesla experience..!
Interesting FailWas watching for the completion of an interesting pattern. It failed to materialize, but thought I'd still share
Bitcoin & Altcoins slipped into Bear market!In these 6 charts, you see the total cryptocurrencies market cap, the total cryptocurrencies market cap without bitcoin, and the bitcoin price chart.
watching them all together will help you decide better and provide a better picture of the situation!
While many think the Bitcoin crash will be an opportunity for altcoins, numbers don't show this! Actually, altcoins are more vulnerable to bear market! and they experienced a 32% price drop in 7 days!
Anyone who denies this reality will pay for that soon!
BTC Dropping to 45K and possibly further!!! Short Term analysisBTC gave us a fakeout above 60k and has since failed to find support at the 54-56k range sending us down to the 48-51k levels. It looks to me that this pattern of a rounding top may fractalize and continue a 3rd time sending us to 44-46k before any type of bullish correction in price.
THIS IS NO FINANCIAL ADVICE IT IS STRICTLY MY OWN PERSONAL TECHNICAL ANALYSIS THEREFORE IT IS MY OPINON.
