The rare fulcrum bottom that was seen at the bottom of $BTC price action in the 3k's is also seen here in the 12k's except in the inverse. Thus, meaning that we could see a reversal and more of a possible correction with bitcoin after possibly testing the YTD high once again.
Looking to print its fifth green weekly candle in a row, $PIVX looks great for a big move incoming. The MACD has been moving positively since a selloff in June and a huge volume increase since December. As long as Bitcoin can stay calm with little volatility, there is a good chance that there may be some movement coming soon for PIVX.
*This is not financial advice.*
It is almost time for Bitcoin to breakout, it has tested resistance multiple times but this last time will be the deciding factor....especially with volatility at an ATL. Hedged at this point, be aware. $BTC
Today in $BTC we are retesting the trend line that had been broken a couple of days ago, this little rally hit the trend line exactly on point. This along with the STOCH RSI at extremely overbought levels makes me believe we should be expecting more downside in the near future. Be careful, don't get caught up in the bullish sentiment that is flooding the crypto...
Even though the news lately has been extremely positive, a step back needs to be taken to observe the long-term timeframes and TA. BTC is still falling in the descending wedge formation, looking to be resolved in September/October area. Be sure to not be blinded by the sentiment of either side, trade without your emotions.
Ascending wedge formation still in full force for the 4-hour chart of bitcoin. Needs to break the upper channel at around 7790 with momentum and volume to invalidate the pattern. If the bottom of the wedge is broken out of, expect another touch of the long-term support which is now at around 7150. If that support does not hold, expect a revisit to the previous...
I would not be surprised to see a drop back to support here with a head and shoulders formation beginning to fall into place. We would need major volume to push above the 150 day moving average which we have bounced off of multiple times acting as a resistance. If we fall back into support, expect more downside from there. If volume picks up and we see a bounce,...
On the one hour chart for Bitcoin, an ascending wedge formation has begun to show itself as well as a lower low on the RSI has been stamped even though the price keeps rising. This is a hidden bearish divergence and will show when it breaks down out of the ascending wedge. More updates to come.
Bear flag with an ascending wedge in the 30-minute chart. Look for a break down further back to test the support zone around 7100 and possibly break down to 6800 area.
As seen in the chart, BTC is creating a hidden divergence on the 4 hour chart, seeing lower lows on the RSI and seeing an uptrend in price and creating lower highs in the RSI as well. This divergence could drive BTC to the first major support zone around 8800 and if that happens look for a bounce or a drop even lower to 82-8300 level.
Low volume and slowing momentum has formed the last shoulder of the head and shoulders formation on the 4 hr chart. Look for BTC support around 8500, if that breaks look for 7900-7700 and then down to even 6700 for last stand of support.
