BitcoinShort
Bitcoin Same Old Pattern Once again 2.2
Updated
hey guys welcome to a fresh new Bitcoin XBT update, before moving ahead if you're not familiar with my same old pattern series, than i would highly recommend you to do check it out first, click below to see the last update of this series or check my profile for more, and don't forget to follow and like me:)
ok so first thing first, above chart is a clear comparison of how same old pattern reacts, you'll see that after creating a top we make our first low than a lower top followed by lower low, than an impulsive wave ends as a bull trap, which follows another lower low or similar low as previous one's, than a new wave of lower top and than we get a higher low and than another lower top with a retest of similar highs, finally prices again tests lower support zone and than eventually drops to form new lows.
its not different with other major markets almost every chart follows this pattern in multiple time frames.
now let's take a look what other factors are saying, whether they confirm the pattern or not
first have a look at the weekly chart, clearly 21 ema is getting closer, am expecting a contact with it between 9500-9300, but prices could also drop even lower for a short time, maybe a kiss to 9100 would be enough to pump from this levels, incase break below 9100 next stop will be definitely 8500 or the highs of july 2018.
one of the most simple things which most of the traders are not recognizing is the fib levels in daily chart, its so clear as glass that we've already tested the fib236 (around 9800) almost 6 times and getting closer to test it 7th time and most likely it will break this time, after that next most important level will be fib382 around 7900.
daily chart is crystal clear, here you dont need to be a rocket scientist to know what's going on, we're making lower highs with weak volume and 21, 55 EMA's are strongly resisting prices, most probably we're going to retset the green support zone between 9400-9300, or maybe even lower upto 9100
our first support will be that blue trend line, which you could've seen in so many ideas, but i think that won't hold prices so long, meanwhile 200 daily MA is also getting closer which could contact prices between 8800-8500 range, also mentioned in my previous ideas.
4h chart gives a different perspective, here we can see that an another smaller symmetrical triangle has developed where prices will make a breakout in the end of this formation, so major zone for now is between 10150-9700 any major move outside this zone will decide the future price direction, we could either get a false breakout where prices will eventually breaks the 10150 level to attract more buyers and then starts to drop below 9700 level, so be cautious with this type of patterns which are usually so common in Bitcoin prices.
meanwhile my personal indicator which i've reserved for my premium members is clearly showing strong negative divergence and moving towards the green zone which indicates that prices will keep testing and breaking the support levels for coming days.
my custom indicator in 1h chart, shows perfect entry and exit levels. my premium members get the perfect zone to short with it.
ok enough Bitcoin, there's also some good news for altcoins, and things look so positive for alcoins market.
bitcoin dominance sitting on a key level of 69.65%, if this level breaks than most likely dominance will test 200 daily MA and that blue trend line, in contact zone between two green lines, which is 62.25% - 59.5%, thats a really good news for alts.
whereas alt market cap is increasing rapidly, just in 15 days it flew from 66.5 bill to 83.8 bill, which is a massive 26% growth of all the altcoin market, and we did see huge price increase in top alts like eth ltc ada eos or xrp.
notice that alt mcap retraced exactly from 200 daily ma which is also previous resistance of apr 2019, and this level is sitting from 83 - 84 billion, for next alt season its necessary that we must break this level and push the mcap upto 88 - 90 bill for confirmation.
am already sharing my best altcoins analysis, and will share more, keep following me to get the first update. shared my views on XLM and BNB and both drop exactly in my buying zone and now performing well, to check them see the link below or visit my profile.
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram, we're going the increase premium fee in coming days, so hurry up...
thanks you, this is Husain Zabir signing out
ok so first thing first, above chart is a clear comparison of how same old pattern reacts, you'll see that after creating a top we make our first low than a lower top followed by lower low, than an impulsive wave ends as a bull trap, which follows another lower low or similar low as previous one's, than a new wave of lower top and than we get a higher low and than another lower top with a retest of similar highs, finally prices again tests lower support zone and than eventually drops to form new lows.
its not different with other major markets almost every chart follows this pattern in multiple time frames.
now let's take a look what other factors are saying, whether they confirm the pattern or not
first have a look at the weekly chart, clearly 21 ema is getting closer, am expecting a contact with it between 9500-9300, but prices could also drop even lower for a short time, maybe a kiss to 9100 would be enough to pump from this levels, incase break below 9100 next stop will be definitely 8500 or the highs of july 2018.
one of the most simple things which most of the traders are not recognizing is the fib levels in daily chart, its so clear as glass that we've already tested the fib236 (around 9800) almost 6 times and getting closer to test it 7th time and most likely it will break this time, after that next most important level will be fib382 around 7900.
daily chart is crystal clear, here you dont need to be a rocket scientist to know what's going on, we're making lower highs with weak volume and 21, 55 EMA's are strongly resisting prices, most probably we're going to retset the green support zone between 9400-9300, or maybe even lower upto 9100
our first support will be that blue trend line, which you could've seen in so many ideas, but i think that won't hold prices so long, meanwhile 200 daily MA is also getting closer which could contact prices between 8800-8500 range, also mentioned in my previous ideas.
4h chart gives a different perspective, here we can see that an another smaller symmetrical triangle has developed where prices will make a breakout in the end of this formation, so major zone for now is between 10150-9700 any major move outside this zone will decide the future price direction, we could either get a false breakout where prices will eventually breaks the 10150 level to attract more buyers and then starts to drop below 9700 level, so be cautious with this type of patterns which are usually so common in Bitcoin prices.
meanwhile my personal indicator which i've reserved for my premium members is clearly showing strong negative divergence and moving towards the green zone which indicates that prices will keep testing and breaking the support levels for coming days.
my custom indicator in 1h chart, shows perfect entry and exit levels. my premium members get the perfect zone to short with it.
ok enough Bitcoin, there's also some good news for altcoins, and things look so positive for alcoins market.
bitcoin dominance sitting on a key level of 69.65%, if this level breaks than most likely dominance will test 200 daily MA and that blue trend line, in contact zone between two green lines, which is 62.25% - 59.5%, thats a really good news for alts.
whereas alt market cap is increasing rapidly, just in 15 days it flew from 66.5 bill to 83.8 bill, which is a massive 26% growth of all the altcoin market, and we did see huge price increase in top alts like eth ltc ada eos or xrp.
notice that alt mcap retraced exactly from 200 daily ma which is also previous resistance of apr 2019, and this level is sitting from 83 - 84 billion, for next alt season its necessary that we must break this level and push the mcap upto 88 - 90 bill for confirmation.
am already sharing my best altcoins analysis, and will share more, keep following me to get the first update. shared my views on XLM and BNB and both drop exactly in my buying zone and now performing well, to check them see the link below or visit my profile.
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram, we're going the increase premium fee in coming days, so hurry up...
thanks you, this is Husain Zabir signing out
Note
Launch of BAKKT reminds me 2017s CME Bitcoin futures listing which was the last nail in the coffin of Bitcoin's bull run.BAKKT isn't different from that, huge hype from more than a year and simply almost nothing happened on the day it goes live. Most probably drop in Bitcoin could start from today, let's see what happens.
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and.... it dumped as expected;)
hope you guys made some nice profits, coz we definitely made it with our premium members, +25% and still going, cheers...
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Bitcoin Still bearish prices will keep testing support, next support is 9480, 9340, 9130
Note
1h chart is also totally bearish
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Bang... As i said you the lows has wiped out, hope you guys take profits with me coz my premium members enjoyed more than +58% profits and all targets achieved with 9100 level, cheers...
To join premium check out my telegram channel
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