broke out of the down trend channel, so could move to test the conjunction of the 2 LT trendlines at 7600. I'll only long if it finds a shoulder pattern and breaks out. Now short from the rising wedge to the lows of the supposed left shoulder.
BTC will drop to 6250, deplete, and shoot up to 8k region.
BTC to bounce higher from previous support.
Based on the MACD crossing up on the daily, the bullish divergence on the 4H RSI and MACD and the support level touch of 6000-7000 on the weekly 50MA I predict a reversal of about 3-4 weeks. Target is 8200, the major downtrend line, and should line up with the Weekly 50 MA and the weekly 16 EMA. After reaching the target I see further downside past the lows at...
BTC to hit top of trendline and break down.
Btc will follow the 2014 scenario to the tee. beautiful if this plays out.
Weekly chart looks due for a pull back higher in this downtrend. Take some consolidation before pushing down to 4000's. Target 8K, downtrend res, 16W EMA, 50W MA Rebound on the 0.23 fib level a third time, just like in 2014 for a final push to the major downtrend line. Daily macd curve up, RSI overbought. Will mimic 2014. I see 8k on 15/07 and then lower...
There has been some decent accumulation over the weekend, a period that generally sees weakness, but this time it held strong. Both macd and rsi have shown divergences over the last couple of days, and the AD line is sloping up, indicating accumulation in this area. A clear sign of upward bias. The daily macd is ready to cross up after a serious period of...
Top of channel resistance: 7200 Support at 6700 Top of downtrend resistance: 8000 MACD Daily should cross up soon MACD 4h crossed up at major support MACD 1h & 2h had divergences since last low RSI bounced back up through 30
6930 Weekly 64EMA as support on weekly (6950 2h 100MA resistance) (6950 4h 50MA resistance) (7000 0.786 Fib resistance) reach 7000 by sunday, then slight sell-off Support on lower end of upward channel Upward cross on daily MACD would be a big plus for the move to 8k, without it less confident.
4h confirmation divergence RSI push up above 30 4h macd open D macd turning up Bullish engulfing downward wedge breakout
4h macd Long D RSI turned above 30 Divergence on MACD and RSI 2h
When it looks like invers H&S, Quacks like Invers H&S and walks like invers H&S... It's probably not and the BTC will melt down to 4000.
Ride the "rebounce" wave. Possible fakeout breakout, let's see where we go with this. RSI 4h Oversold 4h macd curving up Support zone 6650 hit Trendline of triple bottom hit Could see upside. 7000-7200 Use trendline stop loss to ride this as far as I can.
Should see some downside and a drop from the rising wedge. Targets depending on BTC price.