The 200 MA resistance is at 10k which is already a big resistance by itself.. If we break through then we have another big run ahead.. However there is a change we find resistance here and have a (i believe quite small) pullback..And then go we will smash through it afterwords in my opinion..
It looks like btc has found support on the 50 MA and everything looks quite bullish. If the volume comes in after btc crosses the neck line then the inverse H&S is confirmed and a trend reversal could be official if it continues upwards and breaks the downtrend resistance.
There are two other bullish signals to confirm the inverse head & shoulders if the 50 MA holds support.. It does look like we might find support on the 50 MA for the first time in a while because of the bottom of the wedge which lines up perfectly with the moving average. However we should watch this carefully as a fall through the resistance could turn bearish..
I can finally say that my inverse head and shoulders that I've been predicting is forming very nicely. Once we break the down trend resistance then a long term trend change is confirmed. However be aware that if we bounce of of the resistance that we might test even lower lows than before. I do not believe this is going to happen but everything is possible
I looks like btc will continue up and down through this channel and once it breaks out of the downtrend then we are in blue sky's. The macd on the daily candle seems to have juuuuust crossed ever so slighty.
Alongside my inverse head and shoulders idea which is bullish, the daily macd is about to cross for the first time in this correction. I am very bullish on btc right now. This does look good to me
This is not the prettiest inverse head and shoulders I have seen.. but it does seem like we have broken through the neckline. ( The right shoulder just doesn't really look like a shoulder so I'm not sure about this) First resistance and maybe a bounce back would be at the top of the small channel btc is in right now. If it breaks through then next resistance is...
I see the right shouder of this reversed head and shoulders finding support on the long term trendline of the growth of bitcoin. Which indicates upside especialy in combination with this reversed head and shoulders.
If we can see a reversed head and shoulders here alongside with the volume that just came in and the macd forming a (crossing) upward trendline, then I do believe that this was the bottom at 6k.. However it's almost impossible to predict the bottom of this
Just an idea guys.. But lots of volume coming in and a bounce of the bottom of the trendline with a crossing macd. This alongside with lots of good news for crypto today. And the Rsi is extremely low on the daily candles which almost always indicates a good buying opportunity. This is either a trend reversal or a bull trap? What do you guys think?
Good volume coming in and a bounce of the bottom trendline with a crossing macd. If you look at the daily candles the rsi is extremely low, which often indicates upside coming back into the market. I definitely expect btc testing the resistance of the trendline again. And maybe even breaking it if the crypto news out of the USA turns out to be good. What do you...
We all know about the bitcoin futures that will launch very soon and we can see that back in the price action of bitcoin. It is forming a pennant and some believe this is something bullish while others are convinced that a crash is coming. I think both options are possible.. After this parabolic wave a correction around 30-40 percent would be very normal. However...
