BTCUSD - Important scenario on middle-long term to watch!
Updated
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Hello, as many people giving advise when to buy bitcoin and how much can it fall before backing up there is an important scenario to watch when considering the bullish scenario. Do you really think bitcoin will back up again when falling to 4000-5000 USD?!
There is not much volume in the market, a fall to 4000-5000 USD would confirm several bearish indicators and the probability of a possible bull-market continuation will fall.
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As you can see in my chart there is an important indicator showing us when a confirmed bull and bear market is in play. It is the Thunder Cloud Suite. It confirms bull and bear markets. Also in bitcoins bull-markets the weekly close was never below the lower band of the Thunder Cloud Suite. It indicated exactly the market change with a close below the lower band in april 2014 and march 2018.
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What is also really important and worth to look at is the major blue trend-line which you see in my chart holding bitcoin all the way up, what do you think will happen when bitcoin trades below this major blue trend-line? Right another bearish indicator confirms!
There is the 50-EMA which also hold the bull-markets in the past and confirmed more downside when broke down.
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For now we have to watch if bitcoin succedes in holding the range or if it falls more. Falling more can also happen slowly with touching support backing up and falling again as seen in the bear-market after 2017.
Considering the bullish scenario the volume for an continuation is very important.
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Thanks for watching! May all luck and happiness come to you! For more market insight feel free to support!
The information provided is for educational purposes only and should not be used to take action in markets.
___________________________________________________________________________________________________________________________________________________________________
Hello, as many people giving advise when to buy bitcoin and how much can it fall before backing up there is an important scenario to watch when considering the bullish scenario. Do you really think bitcoin will back up again when falling to 4000-5000 USD?!
There is not much volume in the market, a fall to 4000-5000 USD would confirm several bearish indicators and the probability of a possible bull-market continuation will fall.
___________________________________________________________________________________________________________________________________________________________________
As you can see in my chart there is an important indicator showing us when a confirmed bull and bear market is in play. It is the Thunder Cloud Suite. It confirms bull and bear markets. Also in bitcoins bull-markets the weekly close was never below the lower band of the Thunder Cloud Suite. It indicated exactly the market change with a close below the lower band in april 2014 and march 2018.
___________________________________________________________________________________________________________________________________________________________________
What is also really important and worth to look at is the major blue trend-line which you see in my chart holding bitcoin all the way up, what do you think will happen when bitcoin trades below this major blue trend-line? Right another bearish indicator confirms!
There is the 50-EMA which also hold the bull-markets in the past and confirmed more downside when broke down.
___________________________________________________________________________________________________________________________________________________________________
For now we have to watch if bitcoin succedes in holding the range or if it falls more. Falling more can also happen slowly with touching support backing up and falling again as seen in the bear-market after 2017.
Considering the bullish scenario the volume for an continuation is very important.
___________________________________________________________________________________________________________________________________________________________________
Thanks for watching! May all luck and happiness come to you! For more market insight feel free to support!
The information provided is for educational purposes only and should not be used to take action in markets.
___________________________________________________________________________________________________________________________________________________________________
Note
This analysis is for middle to Long TermNote
Write your comments and ides about bitcoin belowNote
Note
Note
Be aware! BTCUSD weekly close is below thunder clud suiteNote
As you can see in my chart it never closed below in bull marketsNote
Close below was every time a signal for market changeNote
Note
The information provided is for educational purposes only and should not be used to take action in markets.Note
ANALYSIS UPDATE: BITCOIN formed the exact, same reversal pattern once again after it confirmed the main supports it bounced back above the 50-EMA again.Once BITCOIN bounced above the 50-EMA again it continued with a major bullish bull wave expansion towards the upper target zones.
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