After the recent dip down to 39650 USD, Bitcoin is now showing some signs of temporary reversal with expected targets in the range of 45500 to 46500 USD.
This is supported as well by the bullish divergence on the RSI from the low of Dec 21 during the crazy flash crash and the recent low.
Polygon MATIC is bouncing from the lower support of the up-trending channel, target might be above 3 USD.
MACD imminent bullish cross seems to support this analysis.
Hi Guys, this really looks like a bearish patter which is made even stronger by the fakeout had in the previous days.
If you are bullish, make sure you have your stop loss in place in case needed.
If you are bearish, set your order below support, and if you have short position already open, make sure you set your stop loss.
The title of this post is bearish, but...
Ciao Traders
Hopefully we will make an higher high finally, breaking up local trendlines but expected resistance ad 1100 satoshis, first good target about 1300 satoshis.
Stoploss at daily close below previous low .
Ciao Traders,
If waves 1 count is ok, wave 5 extension is in play, from this point we could see an ABC correction to lower levels, if we breakup it can lead to 9.3k
Pay attention to these level.
Ciao Friends,
Litecoin just got rejected by long term trend line resistance, if it is not able to go through it will get rejected and a pull back at 61,8% fib level is expected or a 200 MA which can act as support.
Ciao Traders,
As in the chart we can see Ethereum is moving within the marked channel, if we break south the next support is 215USD level as 200SMA hourly, in case of strong break the next support will be 175USD level as 50SMA daily, breaking on the upside will lead us to the recent highs.
Wait for action next to the bounderies of this channel.
Ciao Traders,
Cardano looks in a small downtrend/recession to local support at 100 and 200 SMAs around 1050 satoshis with target at level 1300 satoshis.
Ciao Traders,
As highlighted in the chart bitcoin is in a triangle formation which is a continuation pattern of the downhill seen yesterday, but coution and stop loss is a must since bitcoin has often proven of not caring about chart patterns.
On a larger scale H&S formation which is bearish as well.
I would short about 7400/7500 USD with a tight stop loss...
Ciao Traders,
I would keep an eye on the weekly chart of BTC, it looks like a shooting star candle is forming on the weekly.
What is a shooting star candle?
The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend especially when...
