BITCOIN and D4rkEnergY Want to Take This Chance to Apologize to
Updated
In the beginning of this year D4rkEnergY spent a lot of time making charts for you guys, which made him number 1 trader on all the list. I came back again and again, but had a hard time being consistent due to stress! I've now had a break for several months!
I just wanna say from the bottom of my heart, and take this chance to apologize to...
ABSOLUTELY NOBODY!!
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Let's begin - this is to give you guys a Bitcoin overview, and tell you what we can expect to see. We are therefore taking a look at the 1D BTCUSD Chart.
We have for a long time been trading inside, what is per definition a neutral triangle, which is neither bearish nor bullish looking at it from a normal classical charting point of view.
If we look at our different tools and indicators, we can only confirm the indecisiveness of Bitcoin. BUT we might soon see firework!
- We are at this moment getting support from EMA 20
- Right above our head we have resistance from EMA 50
- Last 7 days volume have all been below EMA20 Volume.
- POC (Point of control) is around 6,450 USD, why we also have support here.
- RSI is indecisive with point 50
- MACD is showing us, that the bulls are losing momentum, but haven't given up yet.
We can therefore conclude, that we don't have a lot of room to maneuver around, and traders are getting more cautious, which is not unusual, when we are getting closer to the end of the triangle, where we can expect something will happen.
Most likely we will short term see us drop a bit and therefore still stay inside the triangle. And when we are getting closer to November, we will have more info, and it will be easier to determine whether we will reach our midterm bullish target at 7,450 USD or the midterm bearish target at just below 6,000 USD.
D4rkEnergY will keep you updated!
D4 Loves you <3
PS. Please leave a LIKE and FOLLOW for more!
I just wanna say from the bottom of my heart, and take this chance to apologize to...
ABSOLUTELY NOBODY!!
--------------------------------------------
Let's begin - this is to give you guys a Bitcoin overview, and tell you what we can expect to see. We are therefore taking a look at the 1D BTCUSD Chart.
We have for a long time been trading inside, what is per definition a neutral triangle, which is neither bearish nor bullish looking at it from a normal classical charting point of view.
If we look at our different tools and indicators, we can only confirm the indecisiveness of Bitcoin. BUT we might soon see firework!
- We are at this moment getting support from EMA 20
- Right above our head we have resistance from EMA 50
- Last 7 days volume have all been below EMA20 Volume.
- POC (Point of control) is around 6,450 USD, why we also have support here.
- RSI is indecisive with point 50
- MACD is showing us, that the bulls are losing momentum, but haven't given up yet.
We can therefore conclude, that we don't have a lot of room to maneuver around, and traders are getting more cautious, which is not unusual, when we are getting closer to the end of the triangle, where we can expect something will happen.
Most likely we will short term see us drop a bit and therefore still stay inside the triangle. And when we are getting closer to November, we will have more info, and it will be easier to determine whether we will reach our midterm bullish target at 7,450 USD or the midterm bearish target at just below 6,000 USD.
D4rkEnergY will keep you updated!
D4 Loves you <3
PS. Please leave a LIKE and FOLLOW for more!
Note
SHORT TERM: As you can see here, illustrated by the Bollinger Band, we have strong support at 6,560 USD where we also have MA20. If we drop under, which is the most likely scenario we will go to around 6,427 USD.If we manage to penetrate upwards and go above EMA50 we have a chance to go long to 6,670 USD. This is the less likely scenario though.
Please leave a like, my friends! <3
Note
If we take a look at the chart right now here on the 4h BTCUSD, and look at the candlestick formations, the RSI and MACD it looks a bit better for the bulls. But as you can see illustrated by the yellow dot, that we are right now struggling with a confluence resistance at 6,575 USD. MA20, EMA50, EMA100, EMA 200 and POC.So everything taking into consideration I still think, that we most likely will go down. I think the resistance is way too strong.
IF we break through EMA50 (at 6,000 USD) though we will as earlier posted go to around 6,670 USD before we have next strong resistance. That means, that we don't have a lot of clearance, which means IF we would go long it would be harder to make a good Risk-Reward Ratio position.
On the other hand there are longer way down and less support, which makes it easier for us to enter a short position with a better RRR.
I want to point out, that this should NOT influence our decision whether we will enter a short or a long position, but you should rather ask your self IS IT WORTH IT?
Note
As you can see, we will probably fall through pretty quickly! Last small support. Please notice the before mentioned clearance.Please leave a LIKE!
- D4 is here for you <3
Note
Easy peacy! Most likely scenario is bullish as I see it (if we don't see any market crash in US Stocks). November and December are generally speaking bullish months in all financial markets - also Bitcoin.
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