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Btcusdlong

BTC Rejects at our Trend Line! I tried to be as detailed as possible with the TA above. Please boost if you enjoyed this thread :) Bitcoin has been in an upward channel for the past two weeks and just rejected perfected off of the upwards channel resistance at $17,400. It broke down through the micro support of $17,167 and I believe it will reach our next target of $16,700 before having a relief bounce to retest the new resistance of $17,167 and possiblly climbing to $17,640 (our next MAJOR resistance). If we continue to break the $16,700 support and break down out of the channel, then my next MAJOR support for BTC is $15,900 and $15,600 which were our previous supports Nov 13th and Nov 21st. I'm personally waiting for another buy/sell signal from Wave Fusion, especially if it coincides with a support/resistance level. If you enjoyed my TA or have any questions about the indicators used and how to gain access (Wave Fusion), then comment below or send me a PM :) Thanks for reading!
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by CryptoScripts
BTC Bitcoin - is this the bottom?Today we take a look at the BTC long-term chart compared to the DXY - Dollar Index. Negative correlation The dollar index has a strong negative correlation against the BTC. A negative correlation of -1 means that when DXY makes +1%, BTC makes -1%. In other words, when the dollar rises, the BTC falls and vice versa. Top and Bottom Formations In the chart it is very easy to see when the dollar formed a bottom, BTC formed a top and when the dollar formed a top, BTC found a bottom. Current situation We are currently in a top formation of the dollar and as mentioned several times with BTC, we are also already assuming that BTC is starting to form a bottom. This chart and their history would confirm the bottoming. Further we see also in the lower blue chart the correlation coefficient (+1 to -1). Each time before or during which the bottoms and tops were formed, a positive correlation was found. We can see this right now as well, especially the last 2 weeks BTC was able to build a positive correlation with the Dollar Index. Forecast Even though the long-term indicators are all already bullish and set for a trend change, we are still waiting for now. As in the 2015-2016 BTC bottom, the TOP formation of the dollar took almost 2 years and thus the bottom formation of BTC also took more like 1 year. This could happen this time as well, especially since we expect a strong recession in 2023. Another low to $10,000 to $14,000 is still possible. For all Hodler, it already offers itself to carry out first small long-term entries. We will keep you updated!
INDEX:BTCUSD
by Consyder
BTC is getting ready for the Big moveHi guys, This is Martin, One of the most active trading view authors and fastest-growing communities. Consider following me for the latest updates and Long /Short calls on almost every exchange. I post short mid and long-term trade setups too. Let’s get to the chart! I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice. #BTC UPDATE BTC is forming this big falling wedge pattern what is falling wedge pattern The falling wedge is a bullish pattern . Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. In general, a falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend. *BTC Need to Clear the 18,500 Resistance to Confirm the Falling Wedge Breakout * RSI is also sowing some bullish divergences move *If it conform this pattern then according to the pattern we will see good bounce Stay tuned I will keep updating This chart is likely to help you make better trade decisions if it does consider upvoting it. I would also love to know your charts and views in the comment section. Thank you
by MartinTraderc
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