The third down-wave is just around the corner, 2 possible scenarios (look at the orange lines) for entry point.
Chikou Span (at the red arrow) is in Ichimoku cloud right now, so BTC is not yet breakout successful. 8500 is really a very strong resistance level, and in history BTC can't get over without correction at this level (this doesn't mean history is always true). But we need to see BTC make a correction at this level before bull-running. Because, if BTC get over this...
BTC has seen a well needed rally and is going through a corrective phase, sideways trading is an okay start, but the forming of the bullflag really isn't singing too much to me as it is met by way too much converging resistances including the Ichimoku cloud which has been respected many times in the passed. I feel we will have a small rally upwards, until the...
Hello cryptotraders, I come back with and idea for BITFINEX:BTCUSD i´ve been reading and developing on the Wyckoff scenarios, so i leave you here my first chart with this method. After surpassing 7250 BTC is inside the symmetrical triangle, the lower line of the triangle is the one you can see in green that is as well acting as support, the Wyckoff...
I am scaling into a short position here on BTC as we have 3 major resistance levels all converging between 7.6k - 7.8k. We have the 100 MA, the previous trendline that failed to support the price and the top of the dead cat bounce.
With all the ETF hope and news in the air again, and the impressive amount of volume over the last few days, we reach that regular part of the cycle where the chorus of 'THE WORST IS OVER!! BITCOIN TO THE MOON!!" starts to be heard loudly once more. I think we have a few more legs down before we're likely to complete the market cycle and start a recovery. We're...
Btc short getting close XBTUSD I am about to start to set some sells averaging in for a short on BTC as RSI is getting close to Overbought There are 4 possible targets as marked , these are the trend , support and resistance lines i have drawn. Monitor other factors sush as RSI, MACD, Volume as we hit targets This is my own research and not trading advice. Always...
BTC path down to 6k again to re-test bottom and imo will break Down
BTC is currently being supported by an old FIB line. The FIBS were taken from the bull run starting April 1st to May 5th which almost took us to 10k. This blue FIB is the 100% retracement for that run. Regardless, we are still in several short term bearish patterns and plotted what I think will eventually happen. Note: These aren't meant to be accurate Elliot...
This is a potential scenario. If we fall below the rising wedge we can be prepared to short. Better confirmation would be the body of the candle below the pattern line. Next, even better would be a retest of the pattern line, followed by a rejection. In this scenario we can expect a downtrend to occur. The expected drop from the wedge lands right on one of my fibs...
In short, I expect a strong resistance to the table I have shown. Great divergence Excellent profit sign Good moment to return to the game. For long-distance moves, we can follow Fibonacci :) And do not forget everything you do on your back!
Another ascending triangle in play
Guys... Keep an eye on the shorts... Its time to destroy the shorters again!
Bitcoin has reached the cent of the area of resistance as expected in recent days. Volumes slightly greater, but still nothing able to hit my attention.