BTCUSD had a bullish breakout earlier out of its symmetrical triangle today.
Stochastic is indicating that there is still room for upward momentum, next target is 4421.
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BTCUSD is currently awaiting to break out of the symmetrical triangle.
Given the possible formation of an inverse head and shoulders pattern and the upside potential based on stochastic, there is a strong possibility of a bullish breakout.
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BTCUSD is currently forming an inverse head and shoulders and is currently supported by the 50 and 100 Days Exponential Moving Average (EMA).
The 1st support that i have identified is the horizontal overlap support at 3572.
RSI is also approaching it's ascending support line, which gives me the confidence that an imminent bullish rise will occur.
I believe when...
BTCUSD is currently inside a descending channel, with the 3.5k support level holding strong.
Take note of the support levels as indicated on my chart.
The 3k support level is a strong horizontal overlap support going way back to June 2017 and that is why many people are calling that level as a potential bottom.
Stochastic has still yet to hit its support and...
I have correctly called the drop from the bearish pennant yesterday. Right now, everyone wants to know where is the bottom.
Do I exactly know where is the bottom? Nope.
But what I can do is share the important support levels.
If you refer to my chart, the major support is our strongest support level as it is horizontal overlap support going way back to June...
Previously, I have correctly called the bearish breakout of a potential pennant. However, the crash was not as big as i have expected. Currently, there is another bearish pennant forming and I believe, a potential drop is imminent. Personally I do not think this is the bottom as the volume is still low and there needs to be a huge drop in price towards the 3k+ for...
BTCUSD is coming to an end of a potential bearish pennant and pressure is on the bulls to reduce the control of the bears.
Stochastic is approaching its support and there is still room for a further drop in BTC price.
I believe we will see a final crash to 3k zone maybe by the end of tmr and hopefully it is the start of a bull run after that!
Looking forward to...
I see this as a excellent long opportunity. There is a nice horizontal overlap resistance at 251.29, with a 23.60% fibonacci retracement. Price looks to test this resistance level and I'll set my take profit level just below the resistance. My buy entry will be around 216.78, which coincides with a 100% fibonacci extension. Lastly, I will position my stop loss at...
BTC/USD reversed off a swing high resistance at 6835.7. The 38.20% fibonacci retracement and the 23.60% fibonacci extension at this level indicate that this is a strong level of resistance.
Currently price has reversed off this resistance level. The ascending diagonal support line on RSI predicts a further sell off and thus price may drop.
However, the 6128.1 is...
