This is the bigger picture of BTCUSD
Updated
I find BTCUSD has not find the bottom yet. My expectation is the price will go further down and the whales are planning to accumulate at very low price before they start a new journey to the moon. I may be wrong, but this what I have found from the previous rally on March 2018 which was only a correction for the big downtrend. I am 25% bull of my capital at the top of that rally :) . So, I have a capital money management for the rest of my capital to buy in lower prices (between 5480$ and 3100$). This will give me more profit than trading small waves. I do not use leverage because it is illegal in Islam. This will save my capital and remove stress of monitoring open trades for small waves. I like the analysis of BloomTrader who use the historical price of BTCUSD to expect the next rally.
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a bull flag is in playComment
This flag failed since the breakout was with no volume and it faces the huge resistant.Comment
I expect a small bounce until the resistant then a drop to the green area support.Comment
The bull flag is still valid. however, it is facing a strong resistant.I have updated the daily triangle to be a descending triangle which is a bullish sign.
you can read analysis for this in the following idea
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I like this video for how to read the price action to expect the next moveyoutu.be/Q29UR7N8a6E
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This price action seems bearish for meComment
The price is still moving in a horizontal channel bounded by a huge resistant. I the price break it out, I expect a rally in the short term like in April. For me I will wait for cheap prices to get into the market. Comment
A breakout for the flag confirmed by volume which is a sign ofa bullish rally this week. We still need to breakout the descending triangle
on daily chart which is another bullish sign.
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This is a bullish chart. However, the volume is decreasing which is a sign of weak rally. I expect the price drop any time since there is no stretch in volume. I guess that whales are selling off the alts to buy BTC, then they will sell off the BTC to by cheap alts. Comment
The rally is still strong. We know that from the spikes and the increasing volume in the daily chart. There are two correction patterns which are ascending channel and wedge. For me I wait until the volume decrease or the price show weakness then I will close my long positions that I opened from the top of the rally in April. I still consider that BTC did not find its bottom yet and we will continue the downtrend.Comment
The daily chart is still bullish in my opinion. However, the price usually makes a correction with these sharp ascending channels. Comment
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I think this manipulation. The price my go down again because of this ascending channel.Comment
The inverse H&S is not at the formal place. It should be at the end of a down trend. So I expect the triangle will be the proper explanation for the chartComment
This is my view to the chart.Comment
Hopefully we go up from hereComment
The chart says we are going down. That means the rally was another manipulation to sell expensive BTC at high prices. That is why I did not recommend to buy in this rally. I have preferred to wait to buy at low prices. As you can see at the following chart there are two buy signs (highlighted by the orange arrows), but BTC ignored them and kept dropping. Now we have a huge H&S (David mentioned it in his analysis) which is a bearish sign which can trigger the V shape bottom. I can not tell what will happen next. Now we are at a strong support, I do not if BTC will break it or ignore itComment
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We still heading south. This is a bearish flag. We have tested the resistant. I expect more drop.
If you have BTC coins, you can do a buy order
on BCHBTC. There is a fantastic buying opportunity.
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