sanuwat25

sanuwat25 Updated 

The 1.618 Fibonacci extension at approximately $78,600 on the medium-term timeframe (weekly) appears to be providing strong support. On the long-term logarithmic chart, BTC has now entered the lower boundary of the Schiff Pitchfork, historically a key reversal zone. This suggests a solid entry point, with an initial rebound toward $90,000 or higher within the next...

sanuwat25

On a longer-term chart, the price has hit the Fibonacci extension level in a downtrend of 7.05 THB. Currently, this level seems to support the price. Putting the fundamentals aside, this could be a good entry point for technical play. The fisher transform on the weekly chart has also crossed up. Entry: ~7.35 THB TP: 17 THB SL: 6.40 THB

sanuwat25

As I have mentioned multiple times (since 2018) with Bitcoin price, the big Schiff Pitchfork since 2015 still acts as the main support for Bitcoin even in 2022. The red circles I drew on the graph should explain everything - basically, apart from the Covid-19 liquidation crisis, the bottom of the Schiff Pitchfork has been acting as a strong support level for...

sanuwat25

Bitcoin is now attempting to break the 38.2% Fibonacci resistance as shown in the graph (~9420 USD). This Fibonacci level has historically been an important resistance/support for bitcoin in both up and downtrend (the other one being the 61.8% level). Another key level for bitcoin is around 9950 USD (or 10,000 USD) which is the final downtrend-trendline on the...

sanuwat25

This chart shows the major support which has been holding the price of bitcoin for at least the past 5 years. I have mentioned this multiple times and it is the warning line support of Andrews Pitchfork on log scale. This support level is also coincidentally the Fibonacci 61.8% retracement and just slightly below the 50ema weekly which should theoretically hold...

sanuwat25

The orange thick line is the 200EMA daily which is one of the most important EMA for BTCUSD analysis. This is because during the uptrend, BTCUSD rarely dips below the 200EMA tf daily and when it does, it usually means a trend reversal. The price is currently also hitting the lower border of the pitchfork, forming very good support for going long. Other momentum...

sanuwat25 Updated 

I won't be suggesting a buy or a sell here but Dow Jones Index is currently forming quite a convincing bearish Wolfe wave pattern. We have been forming a rising wedge (green channel) for a while since mid-late 2019 and now that the 6th extension has failed above the rising wedge resistant and breaking below the channel support, by using a bearish Wolfe wave...

sanuwat25 Updated 

As I have mentioned multiple times over the years, one of the main charts I used is this Schiff pitchfork on the log scale. It is the same chart I used for entry back in Nov 2018 and also Dec 2019 (see my related ideas below). If you scroll through the time, I used the data since 2011 to get this chart and since early 2015, the chart has been picking the low of...

sanuwat25

The price of bitcoin is back at the 6-year support level on Schiff Pitchfork again (for now it is 8000 USD +-12% for volatility). This has been the major support level for the past 6 years. It is also at the 20EMA weekly level (red line) and Gann fan (not shown). Having three major support levels at the same time means they all act together making this support...

sanuwat25

The price of CRO against BTC appears to try and break the 10EMA on the weekly chart. It is also forming a double bottom on the weekly chart. This could signal the possible bottom for CROBTC and it is likely that the next big move on the price is coming if the price can close above the 10EMA (~420 satoshis). The price also following a pitchfork channel quite...

sanuwat25

This week Bitcoin has made a big move onto the downside and is now right on the 6-year long term Schiff pitchfork support level. I suspect that this support level is strong enough and should hold the price until the end of this week but the fact that it has now gone below the 50 EMA on weekly chart will definitely reduce the bullish outlook on bitcoin - at least...

sanuwat25 Updated 

Right now the price of bitcoin is acting quite interesting in 2 ways. 1. It did not go below the pitchfork support as well as the 10 EMA on a monthly chart (~7800 USD). 2. Every time the price can close above the previous opening price on a weekly chart, it usually means that we can expect another rally to the upside. This is especially true when the price of...

sanuwat25

Currently, there is a strong support at 7.8-8.2k on BTCUSD chart - Andrews pitchfork, EMA10 monthly chart, strong 6-year uptrend trendline support and potentially reversal of Fisher transformer on a daily and weekly chart. Right now the price is acting as if it is trying to break the mini downtrend trendline (pink line) and while it may be too early to be certain...

sanuwat25

Currently, there are some good support levels for bitcoin. The lower border of the pitchfork is currently holding the bitcoin price. Another good news is on the monthly chart, the 10 EMA line is still holding the price up so we do have two strong support level at this point (~7800) and these levels could form strong support and make a good entry for a long...

sanuwat25

Looking at 4 hourly chart, fisher transformer has just crossed back up. That means, there is a possible upward momentum coming up and combined with the fact that at this level, the price has just crossed the main 3-month resistant trendline, it is quite likely that we will be seeing more price appreciation as long as the price can stay above the resistant line...

sanuwat25

We all know BTCUSD has been on a rally during the past few weeks but what goes up must come down especially when looking at the weekly chart the momentum indicator like MACD and Fisher are high with Fisher getting ready to cross onto the downside. So keep this big trend picture in mind then zoom in and analyse the smaller time frame at 4hr, there is a clear...

sanuwat25

Just broke through trendline on the big picture. Is still under EMA15 weekly (high chance of bouncing back to roughly 4100-4300 and potentially higher. Monthly picture is significantly lower than the EMA with reversal signal starting to form on momentum indicators.

sanuwat25

On logscale the price came back down to the schiff pitchfork support with possible morning star doji price action as shown. There're also many oversold signal on weekly and daily timeframe. SL 3450 TP 4775