Granted current uptrend continues and gets past the extended blue parabolic move line and meeting point of the descending line we about roughly 12hours away from a crucial move that may see us move up towards 11000 again. Chances are still there of being met with resistance and rejection that could see us plunge to the 10500-10000 range again. As always, Trade...
Unless BFX colapses... i think next week gonna be a pretty boring one
We could still be in this long term downtrend channel and is we are continuing to follow the previous 'crash' then we could have some time to go before finding a real bottom.
Price has completed a bearish bat pattern at key resistance. Selling Bitcoin with sl and tp as shown in the chart is a nice idea. In case price reaches the 1rst tp we move sl at breakeven to 2nd position
This is Real Pattern But Whales are not foreseeable! SF Signal BUY: 6000-5800 SELL TARGET: 1- 6800 2- 7300 3- 7800 Stop less: 5400
BTC/USD - I get asked a lot - When will the bulls be back? My answer is simple, we all want to be bullish but when the facts on the charts are pointing toward an ultimate bearish scenario a bulls mind can change very quickly. What we are seeing on the daily chart above is a huge 16 week accumulated wedge on BTC. We had a double top around the $7,750 - $7,800 mark...
As was predicted even couple of days before, BTC is going down. It finished forming of reversal "Head and Shoulders" pattern and the price dropped again below $9000. Now, on 12H TF, you can see the well-known figure named "bearish flag" with the prospect of downtrend will continue. Let's take a look at EMA trend lines - possible "Golden Cross" failed (purple...
A simple correlation of Bitcoins past history, seems to be repeating in similar fashion - I guess time will tell... Some Fibonacci eye candy for those bullish on bitcoins next trend...
We dont know that , but btc did not turn down for a bit right now. Consider there is a leg impulse it to move to upper side of the channel, btc could highly possible to touch 4950, last top a again. Its hard to get higher than that. Less is more!
Previous bounce didnt work as expected, so after re-assessing, I think we're in consolidation. Hopefully this is the last leg before we head up again. However, this is just TA, and ignores fundamentals such as the looming UAHF / BTC network fork.
The bearish primary degree count (on log scale) still satisfies more factors (i.e. volume trends, sentiment, proportionality, distance, time) than the bullish cycle degree count (on arithmetic scale) and I consider it the higher probability scenario. Log scale shows that the rally to new all-time highs is not as big as it seems. Arithmetic scale shows how steep...