Hello crypto friends, While Bitcoin is breaking resistance after resistance I want to show you a comparative analysis of the accumulation patterns after correction before bullish price increase. As you noticed, the price has been in the downward channel since the summer of 2019: Price is testing the upper boundary of the channel now. Until Bitcoin hasn't...
Hello crypto friends, Bitcoin has shown strength recently breaking the 7.6K resistance and reaching the 8K level where met sell pressure from the bears. Now BTC have to cool down and gain fuel for the next impulse wave to the upside. To claim that the breakout is legit , BTC needs to test the support line at 7.6K and break through 8K with next targets at...
Dear crypto friends, As Bitcoin still haven't broken 7600-7800 resistance area with a confirmation, signs of weakness have arisen. On 1H chart we see clear bearish divergence as price making higher heights ans oscillators making lower lows . Price is going up while oscillators pointing down - sign of weakness. BTC have made already two ABC corrections...
Hello crypto friends, Many of you have probably seen well known "Psychology of market cycle" chart where the disbelief stage precedes a new cycle. In that case many investors usually say "This is a suckers rally" . Let's figure it out. Analyzing Bitcoin's sentiment in last months I see fear, greed and disbelief . Retail investors are hesitating to buy BTC...
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Hello crypto friends, As Bitcoin consolidates in a falling wedge pattern, which usually, but not always, breakouts to the upside, we see a strong convergence on different oscillators . RSI and Bill Williams Awesome Oscillator show convergence of the price moving to the downside and indicators moving upside. Such action usually tells us about trend reversals...
Hello crypto friends, As was mentioned in my previous idea Bitcoin will likely go down to test 9K again: It was a good low risk trade. Now Bitcoin is approaching bottom line of a descending triangle. As you know the more often the price tests a support, the higher chances it won't hold . Moreover, Bitcoin loves breaking descending triangles to the...
Hello crypto friends, This is a short term idea. Bitcoin's price action gives us scalping possibilities for the next 1-2 days. As you can see bottom line of triangle was tested and rejected. Also the price zone of 9400 is a limit order seller's area with a high volume: Price was rejected exactly in the area of big limit order seller I'm expecting...
Hello crypto friends, First let me explain for those to whom these facts might be new. So what is a Bitcoin Trust? It's a company that owns an amount of Bitcoin as an asset. Investors could buy shares of the trust, owning contracts that represent ownership of Bitcoins held by the trust. You thought the only legal way for institutional investors to invest in...
Hello crypto friends, Analyzing the Bitcoin chart I see fractal patterns that repeat over and over again . That is all about cycles. After breaking down the descending triangle Bitcoin found support in 7700-8800 price channel. BTC has the same price action behavior as during accumulation period in 2018-2019 after breaking the 6K support and falling to...