I am not a trader, but i think a rising wedge is forming.
According to the Fib. this could indicate a healthy correction after this run towards 85.000.
Insane resamblance with the market psychology cheat sheet..
Looking at this we are now at the top of the bearmarket rally after the 'anger' fase and ready to slide down deeper next few months before really sliding into a new bullrun.
This alines perfectly with the fact that the (still ongoing) rate hikes are still to be felt in the economy and earnings most likely...
$25.000 is where BTC meets 200 weekly MA + trendline of log pitchfork + august top and it seems to be heavy resistance.
Combined with the macro i think a correction is due to round off this bearmarket rally. I'm looking at 3 main price levels to buy for longterm HODL:
- golden Fib buy zone of around $19.000
- last bottom of around $16.400
- Next support of...
To determine the next direction of BTC just spin the wheel! Because BTC movement seems to make no sense last months.
Looming recession? no problem
Higher CPI than expected? no problem
Higher interest rates coming? no problem
Bad earnings? no problem
Binance usd suspended? no problem
Staking getting suspended? no problem
Bearish patterns on the chart? no...
A bear flag was forming last few days and has broken out to the downside.
These days around CPI data i expect a drop to the CME gap at 20k-20.4k
If that happens it could be forming a head and shoulders pattern with a potential bounce to current levels before breaking down with a technical target of $16.4k which was a big support in Q4 2022.
(in between could be a...
The bullish trend seems to hold for now and the sentiment is really shifting. Majority feels like the bottom is in for BTC.
I personally have a hard time believing this. I mean if you look at the bigger picture:
- another .25% rate hike;
- Rate hikes will continue for all of 2023 despite being smaller;
- No rate cuts all of 2023;
- inflation just 'less high' but...
This is overbought AF on the daily RSI, more than ANY point in 2022, and its still just a lower high compared to november. Just this aspect only already tells me this is not a new bullmarket.
Everyone has suddenly turned bullish because of this rally. Claiming the bottom is in, bull market is back, 50k incoming etc. But i think those people don't even know what...
In my humble and amateur opinion i think this is just a 'bear market rally' or 'oversold rally' inside of a sideways pattern on the larger timeframes. Never chase pumps and when in doubt zoom out.
Nothing has changed in terms of the bearish macro narrative for Q1 and Q2 of 2023 so i don't see why it would win back the strong 18k resistance as support in the short...
I am just a investor not a pro trader so forgive my amateuristic setup. But then again in these times trend lines, RSI and volume are mostly what matters. Forget all those fancy berlinerbollinger200dayYMCA indicators.
My simple trend + macro analysis is that a big movement is coming up. because we are in a big falling wedge since november (big blue lines) and...
I am a amateur trader so no financial advice! but i spotted this bearish pennant + loss of 18k major support zone + all the macro factors. it's almost a miracle how btc hasn't seen 14k yet but most likely just a matter of time.
Not financial advice and i am no expert but this looks like it's bottoming out at this level.
Very clear consolidation of the QNT/BTC pair.
On a fundamental aspect QNT has made some huge developments compared to where it was during it's ATH. New partnerships, a marketing director, big new future outlooks etc.
Really undervalued in terms of marketcap at the...
