THE CHART SAYS IT ALL. BOTTOM'S IN, ROAD TO 100KI could explain it in great detail but I'd rather just watch it become reality.
Bitcoinfore
BTC long term outlookBitcoin top has occurred and now bitcoin has two paths which it could follow
1) Yellow Path
Where bitcoin will go down to test 20000 level and then will go up a lot
2) Purple Path
bitcoin will do a little bit of correction from here for more upside
I personally think Yellow path is more likely to occur ; but you never know.. so lets see
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BTC/USD - DEFENSEBTC/USD chart on coinbase doesn't look good. I would expecting a double bottom to form around 3.4k level or continuation to 1.7k. Defense is the best offense.
Blue triangle indicates the current range.
Green box is buy.
Red box is sell.
Blue line indicates potential support/resistance .
Red line indicates t/p.
This is a log chart.
This is not financial advice. All charts shown on my page, including this one, are just for fun.
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This chart is made using fib channels.
Bitcoin Log Channel ForecastThis is not a chart to be traded off of, extrapolating trends from such early, low volume, price action has many issues. I consider these lines to be an interesting observation. More trustworthy technical analysis techniques are to be used for any tradeable analysis.
Bitcoin Today: 8650 - the last resort.Price
Bitcoin fell during last 20 hours to the 8650.0 level. The fell was produced by the three consecutive sell-offs every seven hours since yesterday afternoon. The fall has stopped at the 8650.0 price, major volumes lie at the 8750.0 rate which shows that there are buyers ready to buy these lows. 8650.0 level is the last borderline, the lowest price, of the April – May correctional pattern, which has been forming during the attempts to get to the 10000.0. Breakthrough of 8650.0 would send the price to test global Bullish Trend Line, which lies between 8000.0 and 8500.0 levels. To draw meaningful turnaround pattern the price will have to get back above the 9000.0 level.
Today forecast
Trading in 8650.0 – 9000.0 zone.
Latest news
Bloomberg Galaxy Crypto Index. Well-known hedge fund manager Michael Novogratz has launched a cryptocurrency benchmark index in partnership with Bloomberg. The index, designed to track the performance of the largest, most liquid coins, consists of 10 cryptocurrencies at its inception.
__“The index is designed to track the performance of the largest, most liquid portion of the cryptocurrency market. The BGCI is market capitalization-weighted and measures the performance of ten USD-traded cryptocurrencies, including bitcoin, ethereum, monero, ripple, and zcash.”__
The BGCI contains 30% bitcoin and ether, 14.13% ripple, 10.63% bitcoin cash, 6.11% EOS, 3.77% litecoin, 1.67% dash, 1.66% monero, and 1% ethereum classic and zcash.
RBI Crackdown Triggers Migration of India’s Cryptocurrency Industry. The crackdown on cryptocurrencies initiated by the RBI has reportedly comprised a catalyst for the migration of numerous Indian cryptocurrency companies and ICOs seeking favorable regulatory jurisdictions.
With India’s banking sector prohibited from providing financial services to businesses dealing in cryptocurrencies, many of India’s crypto companies have been left with no choice but to relocate overseas.
Bitcoin Today: growing or not?Price
Today BTCUSD stays on the yesterday levels, holding above the 9250.0 level. Higher than yesterday peak of volumes talks in favor of further upward movement. Nonetheless, tight trading boundaries of the day shows that 9500.0 resistance will need a much higher volume to be penetrated. From the below, 9250.0 level should stay a support if we want to see soon take. 9500.0 level, for now, is the most important resistance before the 10000.0.
Today forecast
Trading in 9250.0 – 9500.0 zone.
Latest news
Winklevoss Twins Get Crypto Patent. The Winklevoss twins have won a patent to help settle exchange traded products (ETPs) involving digital currencies through their company, CoinDesk reported. In a patent published by the U.S. Patent and Trademark Office, Winklevoss IP detailed a way to make transactions for ETPs that hold digital currencies “such as bitcoins … Ripple, Dogecoins … Ether.” The office awarded the patent a few months after the company filed in December. The brothers had also wanted to list an ETF that was related to bitcoin on the Bats BZX Exchange, but the U.S. Securities and Exchange Commission (SEC) nixed the listing due to uncertainty with regulatory issues and trading risks.
Bitcoin BEARS still in control - How low will she go?Hello friends, Bitcoin didn’t waste any time confirming my previous analysis. Prices pushed pass $8400 and quickly rose, however the price action was no good and we quickly retested $8400.
This does not come as a big surprise as we know the 1week candles still show massive bearish pressure on the market, as well as the confirmation of the longer term down trend line.
The bulls did a good job, but as we can clearly see there is more work to be done. The support at $8000 is failing now and at $7800 we will see the newb traders selling their $8400+ bags at a loss on the way down.
Remember that the trend is our friend and we will trade accordingly. I thought we had a nice diamond bottom forming and a good chance of a reversal.
However my support zones didn’t hold and it shows that the bulls are in for another beating.
Support is around $6000 for me on this drop, but I will keep some dry powder for the $4000 – $5000 zones, longer term speaking. Lets be patient and see what the market does.
We have a massive bullish divergence on the longer term chart, which will cause a massive price surge to the moon side. This could be anytime from now till April by my best guess.
Feel free to come and ask our advice on Discord . Safe trades.
