Hi guys,
BTC has been trading in a triangular pattern that shared properties with either Bullish Pole and Flag pattern or Bullish Pennant pattern.
Breakout from the pattern happened in July 17, 2018 and now we are facing re-test. Price is expected to bounce off the level and continue its uptrend.
Major level to watch for this pattern are: 6000$, 5825$, 5775 and finally 5473$.
We also have strong trendline(Pink color) providing maximum support at those range of price.
We just need to exercise more patience to let market make its moves.
BTC has been trading in a triangular pattern that shared properties with either Bullish Pole and Flag pattern or Bullish Pennant pattern.
Breakout from the pattern happened in July 17, 2018 and now we are facing re-test. Price is expected to bounce off the level and continue its uptrend.
Major level to watch for this pattern are: 6000$, 5825$, 5775 and finally 5473$.
We also have strong trendline(Pink color) providing maximum support at those range of price.
We just need to exercise more patience to let market make its moves.
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Section showing the re-testTrade active
Weekly view of the re-test Trade active
We are having a bounce again, from that flag level. We should have total confirmation today with a good bullish candle.Trade active
Short term expectation show BTC trading in a rectanglular pattern, which can break to either of the side. Probability for breaking up is more than down.Trade active
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BTC hit first resistance level, we expect it to have easy passage to the next resistance at 6500.Trade active
BTC still showing some great sign of recovery after bouncing off the main flag trendline on daily chart.Looking at the move with Elliot wave perspectives,
3 things are possible now:
Following usual fibonanci retracement and waiting for reversal..
-If reversal occur in the range of 23.6%, 38.2%, 50% then this implies we has trade continuation pattern to form last wave and target will be 6900$-7000$.
- if we has a prolonged reversal and see price in the range of 61.8% and finally 78.6% then it will form a potential IHS with the price equal to the level of RIGHT SHOULDER of the IHS which has target at 7100$-7200$
Moreover, price may tend to go straight down for re-test on downward channel around 5800$-5700$ to form continuation of the bearish channel wave after wave (E) has been tested.
For now we need patience to follow the price wisely.
if we are taking any position now either buy or sell let do it with tight stop loss.
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In respect to our previous analysis, BTC just formed a short term reversal pattern on 15minutes chart with Head and Shoulder pattern pointed straight at 61.8% fib retracement, which fall under our second BTC possibility above (if we has a prolonged reversal and see price in the range of 61.8% and finally 78.6% then it will form a potential IHS with the price equal to the level of RIGHT SHOULDER of the IHS which has target at 7100$-7200$ )Fingers crossed guys.
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The last 2 updates are avoidable if price closes above 6435, then we shoot up directly to next resistance at 6547$Trade active
Guys I saw this message somewhere, please let read it and reason with the contents.Bitcoin ETFs
I wasn't sure I would go forward with this, but I feel a moral and ethical obligation to. And while this is really going to upset and possibly enrage the close friends I have who work in some of the larger named Investment Banks on Wall Street, I want to share this with everyone I can reach in the crypto space and let the chips fall where they may. Here's the deal:
The market has done a great job of convincing everyone the Bitcoin ETFs are the end-all be-all for crypto growth. (They're not. At all.)
But they want you to believe this to get the prices down really really low for Wall Street. And everyone seems to be playing right into their propaganda. Realize that Bitcoin ETF's have been applied for and denied going back the last 5 years.
With our recent run testing a $1 Trillion crypto market cap, Wall Street woke up and realized holy hell there is actually a ton of money to be made in this space and it has barely begun. But they missed the boat! So they want in, cheap; Convince everyone these ETF proposals are paramount for the market to ever go up again. (What a joke!). Realize the most likely scenario is these Bitcoin ETFs will not be approved at all this year until early or late next year; all the while using each delay and denial to further drive down the price of BTC. We can stop this if we stop giving credence to their propaganda that is the importance of the ETFs.
Clearly the ETF Proposals are clouding the crypto space to the point it is absurd and ridiculous -- you see it, I see it, and yet we are all playing into it and spreading their manipulative message. Entirely too much focus is being placed on the ETFs.
What everyone needs to be focused on is the technology and adoption. Stay focused on the technology and adoption of crypto, it's what got the market to nearly $1 Trillion already, and let's all let the ETFs do whatever they're going to do.
If we can get everyone on the same page here (and if we work together we can) Bitcoin will brush off the ETF bull shiitake and the crypto market will continue to grow massively with the awesome developments in the crypto space. Do not give Wall Street the pleasure of seeing you Tweet, Post, YouTube, etc anything having to do with the ETFs. Just stop. Let's bring it to a full stop my crypto friends.
Will you do your part to help the crypto community get back on track with focusing on what really matters -- the technology and adoption. Shine the light on this important message and share it with all. Thanks in advance.
Together we are unstoppable.
Very Respectfully
Sorry for forwarding but at least it will help someone.
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Guys great move 6435 break and its a big lambooooTrade active
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Hey, the bounce off the flag look real good guys, could this be toy or for real???Please drop your comment guys.
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Quick recap guys,We said ( -If reversal occur in the range of 23.6%, 38.2%, 50% then this implies we has trade continuation pattern to form last wave and target will be 6900$-7000$ )
Now the next resistance lies at 6618, keep an eyes on it, if price break this level it will rally straight to the above target.
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Another pattern forming right now guys, its good to alert us on all the market possibilities.Another Inverse Head and Shoulder forming when price hit 6635 to make double top.
This pattern is nothing to worry much about, it's easily avoidable also.
If price closes above 6670 the patter will be voided.
But if the pattern eventually formed we may see a gross retracement towards 6145 zone.
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BTC retracement in progress,Following are major level to watch for reversal:
Immediate Level
6347$
6165$
6026$
We also have potential ISHS forming with right shoulder having level at exactly 61.8% fibonanci retracement of the move so far.
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Hi guys,The shoulder level of the above inverse head and should ranges from 6218$ to 6132$.
For this pattern validation price must bounce within the range.
Anything below that level will invalidate the pattern.
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Hi guys,BTC manage to brokeout from the bearish channel its been trading on for few days.
Price presently consolidating on the top trendline of the channel as a potential re-test.
2 things are possible:
1. Price may acknowledge the top trendline of the channel and bounce off to continue uptrend movement. Under these we have resistance situated at the following levels:
6615$
6918$
7400$
7600$
2. Price may Re-break the top of the channel and fall back inside the channel for downtrend continuation and immediate support will be the following level:
6130$
5860$
5697$
5553$.
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Quick view on daily chart to see price reaction and the flag action.Trade active
As we await big breakout here is how BTC look and potentials candle sticks patternsTrade active
Hi Price shown serious rejection at 6470$ area, which fall back inside the our designed closed range of 6195$ and 6324$.
Good news for now is that still yet price still remain outside of the BEARISH CHANNEL.
If price eventually close back inside this bearish channel we may form total corrective wave to terminate at 78.6% fib retracement level where major wave C of corrective wave will be formed around 6025$.
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Hello guys,Reversal hunting always required maximum patience, we will get there one day if not soon.
Yesterday closed bullish also with just small body but the good news remain it close with higher high on the body.
This still signal trade continuation. Let see how today will go.
Always hoping for the best.
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Hi guys,We should not be bothered with the intra day noise, we need to remain calm and focus to the bigger picture.
Daily candle upward says it all, we are looking good.
3days charts guys have a look
1 week chart guys see the reaction at the flag trendline
Here come the monthly view, already forming hammer.
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Hi guysQuick update, small timeframe 30minutes is showing a potential rising wedge which is almost at the break point. We should be aware of this and wait for the breakout. It can go either way.
I wouldn't want to say be too sure of saying it will drop since its rising wedge.
Note
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Hi guys what do you think about this pattern??Can BTC form CUP and Handle???
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HelloSo many attempts on 6560 area, hmmm, fingers crossed.
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Hello guys,BTC recorded great achievement yesterday with closing with full candle and above the previous high.
Yesterday we spotted CUP and Handle formation and again with how BTC closed yesterday we has another pattern in view which is INVERSE HEAD and SHOULDER.
We may see some retracement down before major move will start again.
Note
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Hey guysQuick view on daily timeframe, everything seems perfect so far and we can say BTC bounced off this flag with at least 10days price action.
I will keep this post update as possible all i need from you guys is to keep liking our trading ideas and please follow us.
Thank you
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What to expect today?In term of RETRACEMENT:
Following levels are potential supports
6525
6473
6432
6390
6330
In the view of Continuation:
6820
7180
7935
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BTC at second support level, @6473$Trade active
Still at 6473$ level guysTrade active
Hi guysBTC eventually cleared off all my level for retracement, well if price failed to retrace after the test on 6330, this will signal for full retracement which will stand for wave 2 and price will re-test any of the following level.
6140
6095
6033
Note
I show the section with possible wave on daily timeframe.Trade active
Hi guysQuick update
Retracement mode still in progress!!!
I discovered that we just retraced for 38.2% fib level, but I think this level is not matured enough as price may tend to go more down to test major level around 61.8% fib level (6145$) or 78.6% fib level (6025) area before major uptrend will continue.
Well, anything can still happen if price manage to find support at 6330$.
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BTC potential breakout is approaching, In 1hr timeframe price is trading in a closed triangle pattern. Trade active
hi guysThe triangle manage to breakup, all eyes on the next Resistance ahead at 6435$ area.
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Looking good for good move.Extensive wave count.
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Looking good guysGuys please, I appreciate you guys for taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. Your likes is what keep us going.
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Hi guys,I hope we are all good so far, BTC has been struggle to keep above the major support and rise one more time at least to re-test 7k zone.
Long term still maintain the recovery process.
On smaller timeframe potential flag and pole which is bullish in nature is forming.
Just as I always say, expect breakout in any of the direction, but TA favour breakup more than the breaking down since its BULLISH flag and pole.
Potential level to watch for Bounce are
6450,
6435
6405
6385
I appreciate you guys for taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. Your likes is what keep us going.
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I appreciate you guys for taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. Your likes is what keep us going.
Thank you for your support.
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hi guys,Sorry for not been able to update us since, was actually on a long traveling. I'm back now, next will be market update.
Thanks for your patience!!!.
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We had this update on August 17th, seems to be in play, now price closed back in BEARISH CHANNEL.""Hi
Price shown serious rejection at 6470$ area, which fall back inside the our designed closed range of 6195$ and 6324$.
Good news for now is that still yet price still remain outside of the BEARISH CHANNEL.
If price eventually close back inside this bearish channel we may form total corrective wave to terminate at 78.6% fib retracement level where major wave C of corrective wave will be formed around 6025$.
Note
Support Levels to watch for before free fall if there will be any:6150
6078
6020
5965
5923
Grand Support Must not Break is 5858$
If This break we will has 3rd time attempt test on my FLAG which may probably break it down.
Still doing my extensive analysis guys but before its ready have this to understand what market is upto.
thanks for your support.
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#BTC
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Finally breakthrough 6600 RESISTANCE LEVELTrade active
Hi guys,potential retracement of price may occur, either to re-test any of the following level before we have next leg up.
6636
6595
6495
Next Target upside are
7400,
7800,
8200,
8400,
8800.
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Hi Price is back on the support zone now either for re-test or to break it down, our expectation is that there will be a re-test and bounce.
Support level remain
6636
6595
6495
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wow!!! what a dump guys,Price drop more than our expectation, but good news is that it we have a new scenario of trendline breakout and re-test.
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Price trading in a rising wedge pattern, with bounce happened from the bottom trendline.Trade active
Hi,I brought to us a quick look on the bigger timeframe and see how price is reacting to the Flag and pole.
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BTC seems to be in strong accumulation phase, Major levels to watch are shown with blue lines and Green Lines.
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Wedge in the makingTrade active
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Accumulation in progress for big move.The yellow Box indicate accumulation Zone.
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Price moving as expected so far, what a great call.Trade active
Hi guys,We had a major re-test level, and this sequence seems to be completed. Remember the test on the flag, which bounced up with strength.
What i see now look like price continuation is building up.
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This BTC channel show entire BTC lifecyle
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Hi guysBTC has been struggling to keep the momentum up with all indication targeting at 7000/7100 level.
The following levels are crucial for the above target level to be valid, price need to bounce off or keep above them:
6650
6595
6505
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Hi guys Quick update, good bounce off 6590 zone as expected but still I will regard this zone as no trade zone.
BTC need to breakout from that triangle before we can be sure of its next move.Any close above 6800$ will confirm good buy opportunity to at least 7100$.
Do know that I appreciate you taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. I would really appreciate it.
Thank you for your support.
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Hi guys, I hope you are following our updatesPrice did as expected now testing another decision point at 6750/6762.
If break then we go more up to our initial target at 7100
But if fail to break it, we will drop back down to re-test of 6500.
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Quick flash back on our initial post during the reversal hunting guys, see the pattern playing out nicely, BTC is at 7100$ from 5800$ amazing. Anybody follow this chart will be in good profit by now.Do know that I appreciate you taking the time to read my posts and Please leave a LIKE and FOLLOW us for more updates. I would really appreciate it.
Thank you for your support.
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Potential IHS in formation with target pointing at 8000$-8800$
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The setup is forming nicely. Another high low was made at the area of the support.
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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📩 Promotion/Partnership: t.me/WESLAD
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.