Is the bear market over ? And what has to happen for BITCOIN to step into the bull market ? Why is the 100 MA Weekly line the most important historical line for BITCOIN? Because once bitcoin broke above it in 2015 it acted as support through out the whole bull market. Once the big dip happened and it broke below you can see it acted as resitance multiple times...
The recent price action of the bulls defending support levels both in the Ascending Triangle and in the daily RSI show us that we are probably going to test the 5800-6000 level (forming a bearish divergence at the daily RSI ) before a big correction (I expect at least 20% from the top in this case).
Once price breaks out of this consolidation range we should see an impulse to our 2.6 fib extension @6250 (Breakout by Tuesday). I will expand on this idea once we break out and confirm the move to the upside. I will also share my thoughts on why I believe we can now safely assume that the bottom IS IN. Woohoo! Hope you guys have a wonderful Sunday. Below is a...
Daily is very bullish, uptrend momentum since 2 months, and there is free space to go up to 6k again, probably next week.
9th of April maybe 6524 #doggonacci
Looking at the 4H chart, RSI hitting almost oversold + a good Inverse H/S happening. (This is not financial advice, this is a volatile market where anything can happen)
Hello gang. OK so here's the Renko on the daily. If you've seen my previous ideas, you will notice I've been talking about a big triangle wave, along with some other people doing TA. These waves are bouncing in a big triangular formation ... 20k to 6k, 6k to 11.7k, 11.7k to 6.5k, 6.5k to 10k and now the final wave ... which has broken down below the triangle...
Hello All, A quick update ... there are different possible interpretations when it comes to EW. The short summary ... (1) did we have an ABC correction up from 7040 (black wave)? (2) or did we have an ABCDE leading diagonal up from 7040 (purple wave)? Thing is, selecting one or the other decides when the impulse down started ... and the projected bottom (in the...
Hello everyone! So here, we are ... BTC, tried to get to 8100 on an IHS (see chart). Stalled just over 7.7k territory. Now what? A few days ago, I posted an idea about a back test of the 7k bottom ... I also didn't like the fact that we didn't quite hit the rising 6 month trend line (now almost 9 months long!), which was sitting at 6.9k. So, I do think we are...
From 10k, we are in wave C of an ABC correction (see purple line) ... heading to the lower line of the triangle .... completing cycle WAVE E (red line). The ABC correction is comprised of a 5-3-5 sub wave system. Renko diagrams support that we have completed wave A and B of the ABC taking us to the bottom of the triangle (see my previous idea). It's possible...
Hello guys. So here's an update on my idea ... some polishing up done, with the new data, but the concept still remains the same. For those looking for a summary only. - we are likely forming wave E of a triangle pattern (see red wave) - we are likely in an impulse wave, where wave 3 ends and wave 4 starts (see purple wave). - the purple line is my highest...
Well folks, that last drop into the 75xx area, pretty much confirms we are heading to the bottom of the triangle. I took a long at the 0.618 fib as it was possible the correction was over ... but not without a stop, and those triggered just now. I still have some alts (EOS) that have found support ... but I'm not sure those will hold. Stops ... set them, and I...
The two roads people ... the fork in the road. Always decisions in life. Left or right, on or off, go or no go, right or wrong, up or down? How do you decide when to buy or sell? Do you gamble, listen to others' guidance, or your own TA, identifying possibilities, key decision points and then execute a strategy for min loss/max gain, to improve chance of...
OK people, I've decided to lay down many possible scenarios. Let me summarize, don't have much time! BLUE WAVE: Assumes we completed a running flat correction to 6.5k, and now we are in an ABC correction up, or possibly an impulse. Based on the consensus of some traders I respect, it's possible we form a double top (9.7k or maybe go to 10.2kish) before we go back...
There you go folks. We all knew it had to come back at some stage! My chart the last few days called for a potential reversal at 9800 (one of a few key levels). Now we know where it turned (one peg in the ground). The next key thing that I see which needs to play out is whether this wave is Wave 2 of an impulse up or Wave E of a Triangle Wave. Let me explain. ...
Hey guys, as you can see I've labeled the count so there is actually not much to say besides: Don't fomo yet. There is still a chance for a bearish scenario. $6k is actually the initial level I was looking for to enter big before price began to surge few days ago. With respect to the length of the 3rd subwave of wave 3 in c, the upcoming fifth wave (if there will...
Here we have it guys, as predicted, we have touched that important green trend line (within a few $). So it's D Day, kind of. Remember, if you're a whale and want to short ... what's the best option now? Probably a fake bull over that line by a few $100, get everyone long, and then short it to pieces. The squeeze will liquidate many and send it back to the...