WHAAAT...BITCOIN IS BULLISH??!!
Updated
Goooood morning!
BTC made the lowest low since November 2017. The drop was very quick but luckily I managed to inform right on the time that BTC shows us bearish criterium and sell your alts (because of altcoins follow up with BTC).
Now, when we are taken out the two low points in one day 06.02.2018 low $6000 and 13.06.2017 low $6107 the daily candle close was above both of those levels and daily candle looks like a bullish "Pin Bar" This shows for us a little bullish momentum!
Remember I said in last week that I don't like that a weekly candle closes was below the current main support area which was $6500 and look what happens on the weekend - massive drop!
So, at the moment our weekly candle close was above the main support levels which are a good sign for short-term bullishness!
Right now, like You see on the chart, we have a decent harmonic patter "CYPHER" and that tells us we could see a climb to $7300 area but the road to there is very heavy and bumpy!
First of all this red trendline is THE MAIN TRENDLINE since 17.12.2017, if we manage to break this then it would be another bullish sentiment confirmation and after that comes EMA's and the other different strong support areas like $6500 and etc. (those we discuss on the live updates area)
Right now I would like to say that my short-term view, if we watch only the price action criteria, is bullish!
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Best regards!
BTC made the lowest low since November 2017. The drop was very quick but luckily I managed to inform right on the time that BTC shows us bearish criterium and sell your alts (because of altcoins follow up with BTC).
Now, when we are taken out the two low points in one day 06.02.2018 low $6000 and 13.06.2017 low $6107 the daily candle close was above both of those levels and daily candle looks like a bullish "Pin Bar" This shows for us a little bullish momentum!
Remember I said in last week that I don't like that a weekly candle closes was below the current main support area which was $6500 and look what happens on the weekend - massive drop!
So, at the moment our weekly candle close was above the main support levels which are a good sign for short-term bullishness!
Right now, like You see on the chart, we have a decent harmonic patter "CYPHER" and that tells us we could see a climb to $7300 area but the road to there is very heavy and bumpy!
First of all this red trendline is THE MAIN TRENDLINE since 17.12.2017, if we manage to break this then it would be another bullish sentiment confirmation and after that comes EMA's and the other different strong support areas like $6500 and etc. (those we discuss on the live updates area)
Right now I would like to say that my short-term view, if we watch only the price action criteria, is bullish!
Don't forget to SHARE this, hit the LIKE and the FOLLOW button if you feel this topic deserves it!
That's the best way to support me and help to push this analysis to other users.
Best regards!
Note
...to confirm bearishness then one 1h-4h candle close below $6000 and I will start to look the "bear road" a little bit closer! At the moment another drop after this "bart" move up looks like unlikely! Never know the market is the market and we don't have touched the $5000 yet :DHave a nice day!
To be continued....
Note
On the 15 min. chart watch closely those levels! This looks like a bull flag but not the perfect one. Consolidation area bottom line is supported with EMA's and also the low from 13.06 $6108 support! One break below that could mean we go to retest some lower levels and if You watch closely my main chart then there is an inverted "Head & Shoulders" pattern, we could go and complete the right shoulder and then we continue to climb up but let's see at the moment is just a sideways movement! Have a nice day!
Note
UPDATE: In the 15 min. chart I have found or price as made another bullish pattern - Ascending Triangle!If it breaks above then we would see nice momentum move upwards!
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EDUCATIONAL LESSON: The Bull FlagFor me, the bull Flag has to be like in real life :D not so small not so big vs. flagpole!
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MASSIVE BEARish SIGN IF THIS CANDLE CLOSES LIKE THIS!4th time to break the resistance has failed!
If this candle closes like this then it is massive "Engulfing" candlestick pattern on the strong resistance + 100 EMA resistance, looks like very bad signs suddenly!
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Candle close below the blue line confirms bearishness!Note
After massive 4h candle close and breakout from bull flag we could see an another continuation pattern "Falling wedge" so watch the breakouts! I'm on my phone at the moment and just wanted to update You! Deeper analysis tomorrow from my office! Note
Good morning followers!Over the night we had hmmm...let's say ALLmost sideways movement! But we retest the previous breakout area and escape from there forms in the 4h timefraim "Hammer" candlestick pattern. This "Hammer" is red that means - sellers start to left on the market but they are still alive (green candle kills them :) )
So, for me this is bullish signs but we luck bulls! Yesterday's massive breakout from bull flag was so powerful but after that we are only came down, slowly but down! Let's see what the price gives to us and let's see if this 4h "Hammer" can make a good platform for the bulls!
Note
....and please hit the LIKE button if you feel this topic deserves it!That's the best way to support me and help to push this analysis to other users.
Best regards!
Note
At the moment we have a solid channel down and breakout from there, to be a perfect trade then we need a retest this channel upper line! Channel is also supported with EMA's in 15min. chart! At the moment don't see this but if the price goes below $6150 then it would be a bearish sign till $6000!Note
At the moment we are tested in 15min chart this channel upper trendline 4 times but what we don't see yet is the buyers! But let's see I make another update when the next 1hour candle closes, maybe we can get some confirmation from there - from candlestick pattern!Note
DAMN, the sellers are still in the market, the candle is red and close was in the bad area! Candle close was in the green box area, this was very strong before because there is no single candle close inside this area! This is probably a bad sign but let's see, this market surprises all the time :DNote
As I said this previous 1-hour candle close in this green box would mean a bearish sign! So, we are again in the channel and again below this good support/resistance area! Also, 1h candle closes little bit below the 50 EMA. But I think we see some correction upwards just a little bit, there is just a solid grind downwards - some buyers maybe want to shake the price a little bit :)Note
How do I identify the strong support/resistance areas!?Here is an example from a live action! You can see in the green box we don't have there at the moment candle close (I tightened this range) so, that means we have a very strong area what we dealing at the moment! Up and down, strong candles smash this with a full break below and full break above! At the moment 4h candle closes below this strong area $6213 and current 1h candle retest this again and bounce back! So this could mean bearish price action from here! If we want to be bullish then we want to see the candle close above the previous 1h candle which was around $6230!
So hopefully this was helpful and now You can identify the strong levels better!
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...and we got another bounce back just a 4 min. ago! Note
Two bearish signs:1. LL(lower low) 1h candle close confirmed
2. This close forms the bearish "ENGULFING" candlestick pattern
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Please give this topic a final push and hit the LIKE button!Hopefully this topic is also help to You become a better trader!
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Good Morning!Here are my NEW BTC topic and forecast! Please share this and hit the like button!
Thank You!
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