191018 BTCUSD analysis. We will see $6500. It's definitely bear.
Updated
Hello, my friends. It's Cryptoranger K.
Today I will talk about BTC. Let's look at the weekly chart. Current prices are near the $ 8000 support line below the 5day line. And the 5, 10, 20 day lines are reversed. The reverse arrangement is so neat that I think it will definitely drop to the next support of $ 6500 over the next few weeks.
As I mentioned earlier, in order to change the direction of the MA line, the price should move away from the MA line and then back. You can see the parts marked '1)' and '2)'. And maybe I can see this movement in a few weeks. I currently expect $ 6500 to be my best buy point. I recently estimated that the BTC price could go as early as $ 4000. However, today's analysis concluded that it's likely to rise from $ 6500. I'll write more specifically about this part and post it on the weekend.
Today I spent a lot of time analyzing it hard, but the conclusion was very simple.
Today's analysis was simply a time to identify the ideas I had before.
Today is Friday. You had a hard time working this week.
Have a peaceful weekend and I hope you will continue to protect your precious assets.
Thank you.
We will see $6500. It's definitely bear.
Today I will talk about BTC. Let's look at the weekly chart. Current prices are near the $ 8000 support line below the 5day line. And the 5, 10, 20 day lines are reversed. The reverse arrangement is so neat that I think it will definitely drop to the next support of $ 6500 over the next few weeks.
As I mentioned earlier, in order to change the direction of the MA line, the price should move away from the MA line and then back. You can see the parts marked '1)' and '2)'. And maybe I can see this movement in a few weeks. I currently expect $ 6500 to be my best buy point. I recently estimated that the BTC price could go as early as $ 4000. However, today's analysis concluded that it's likely to rise from $ 6500. I'll write more specifically about this part and post it on the weekend.
Today I spent a lot of time analyzing it hard, but the conclusion was very simple.
Today's analysis was simply a time to identify the ideas I had before.
Today is Friday. You had a hard time working this week.
Have a peaceful weekend and I hope you will continue to protect your precious assets.
Thank you.
We will see $6500. It's definitely bear.
Note
Note
(BTC 1week chart)Note
This is an update.In an article I wrote yesterday, I concluded that there is a high possibility that the price of BTC will go up from $6500, and I said that I would organize this and post it over the weekend. I'm going to talk about that from now on. I was going to post a new one, but I just chose to update it because it was based on my personal hopes.
The chart shown above is a weekly chart. There were two things that I've seen in the last week's chart.
1) The intersection of 20&50 day lines.
2) 200 day line that serves as a support for BTC price.
And I came up with this question.
Based on the intersection of the 20&50 day lines, what is the significance of the change from the difference between the price range at the top and the price range at the bottom of the criteria?'
So I measured the change in the width.
First, let's look at the first price range, red boxes. If you look at these two boxes as one, the range of high and low was $16,544. And based on the intersection, it had a price range of 11,554 dollars above it, and it had a price range of 4,990 dollars below the intersection. This was a ratio of 70:30 to the total price range.
Next we will look at the second price range, blue boxes. The total price range for these two boxes was $10,758, which is 65% of the primary price range. Again, the upper blue box has a price range of $8,265, and the lower blue box has a range of $2,493. And that's 76:24 for the total price range.
As you can see, the price at the top of the intersection has increased by 6%, and at the bottom of the intersection you can see the price drop by 6%.
And here I asked myself a few questions.
Note
1) What happens if the next price trend shows similar changes?2) Where will the next 20&50 day lines be?
3) Will the next price range be 70:30 like red boxes?
4) Or will it be 76:24 like blue boxes?
Question 1 is the basic condition. As you can see, the secondary price is 65% less than the primary price. So I decided on the condition based on the expectation that the third price range would also be reduced to about 65% of the second price range. As a result, the 3rd estimated total price range was $6993.
The following is an estimate of where the intersection of the 20&50 day lines will be made:
The future direction of the 50 day line is drawn roughly similar to the current flow.
The expected 20 day line was drawn by taking the shape of the 20 day line into the red box that happened earlier.
As a result of that drawing, it was expected to create an intersection somewhere around $7,016.
The expected date for the intersection is December 9.
Based on these intersections, I first calculated the price range above and below the intersection at a ratio of 70:30.
I mentioned earlier that the 3rd estimated total price range is $6993. If you calculate the price for 70% of this price, you'll get $4895. Again, if you calculate the 30% price range from the blue box below the secondary intersection, you'll get $2,097. If you add or subtract each of these from the third estimated intersection, you'll see the same price range as the purple boxes in the chart. The highest point for purple boxes is $11,911, and the lowest point is $4919.
Next, if you calculate the price range in the 76:24 ratio, the price range above the 3rd estimated intersection is $6,993. And the lower price range is $1,258. If you calculate the price range like this, the highest is $12.750 and the lowest is $5758.
That's my rough estimate.
If you look at the chart above, you can see that the previous low point has risen again with the support of the 200 day line. I found two interesting features in this prediction. This is as follows:
1) The bottom of the box below the intersection is not far from my 200 day line.
2) The following support line, $6500 trade volume, is located in the junction area of boxes under purple and green.
That's why I told you yesterday that the price of BTC would drop to $6500. Of course, my expectations today are based on personal hopes and assumptions. Now I'm predicting two trends. First, it's a rise around $7200. However, considering the two-week and three-week charts, I think that if a change occurs at $7200, it's likely to be a rebound, not an increase The second is a rise from $6500. Personally, I put the biggest weight on this part.
That's it for today's analysis.
I just wanted to tell you that there is a possibility that the price flow of BTC could flow like this. It's just a possibility, so I hope you'll keep in mind your trading.
It's Saturday.
I hope you have a peaceful weekend, and I'll keep an eye on the flow.
Thank you.
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