With the MACD positive momentum waning, and the Stoch RSI crossing back under the Bullish control Zone i would look to the .236 fib retracement ( 4994) for the first target. The Bull Market Support Band will be closing in to the level in the future , may act as a magnet. This idea is on a weekly time frame so it could take months to play out.
The Bullmarket Support Band has historically acted as a support level for Bitcoin prices during bull markets. It is a simple long TF indicator and price tends to retrace towards it. For example, during the 2017 bull run, Bitcoin had several 30-40% corrections to the support band. WHY THIS MATTERS: The band just "flipped bull" on the monthly timeframe after a...
Bull market support band crossing down to fair value zone. Then ?! Is this bottom ?!
- Uptrend got rejected on the FIB 0.382 - Price is below the Bullmarket-supportband on the weekly timeframe - Price is below 2021 lower trendline - Expected support in case of further downside FIB 0.236, next support could be the lower trendline created by the C-19 crash + Weekly close above the Bullmarket Supportband would invalidate my scenario. Fingers...
Here's a quick look at the weekly BTC chart with the bull market support band on. The bull market support band (b.m.s. band) has in pervious years been a very good indicator in terms of indicating a shift in the market. When the price gets below the band, the price tends to get into a bear phase. And when the price breaks above and holds above the band, the price...
Bitcoin has been in a downtrend since November 2021... Has the Bull Run resumed? My thoughts below: Bitcoin has faced immense selling pressure since the tail end of 2021. This selling pressure seems to have been exhausted as bulls work to retake the Bull Market Support Band and flip it to support. If Bitcoin can turn the BMSB into support, it will serve as a...
20W moving average (and a white shadow of a 21W EMA) has historically indicated a good near term cost basis. With a fitted fibonacci slanted channel (and more-or-less randomly extending the 20W average) we can plot a possible path for BTC, dancing between past fib level trend lines for resistance at important price levels, while also holding support at this...
The 3day chart shows a strong sign of recovery and can be taken as a future outlook of the weekly. Bullish stuff: We entered the bull market support band and did not get rejected so far. The RSI shows a strong healthy rise. Trading volume is higher compared to the start of 2022. We formed a W shaped double bottom which is a strong reversal sign. Bearish...
The 3day chart shows a strong sign of recovery and can be taken as a future outlook of the weekly. Bullish stuff: The 200MA of the 3day was held perfectly. No close below it! We now are within the bull market support band and did not get rejected so far. The RSI shows a strong healthy rise. Trading volume is higher compared to the start of 2022. We are still...
entering with tight stop, if trade fails then will look for entry on break of 9.40. sl at 8.58 first tp 9,90. will sell half and trail the rest
Bitcoin is the dominant crypto currency and the whole market is somewhat depending on the health of the Bitcoin price chart. Bitcoin dropped by 50% from its previous ATH around 68k within 3 months. Since then we are consolidating into a wedge pattern with a ceiling around 45k and a rising floor currently around 39k. Bearish stuff: We are below the weekly bull...
ETH 3 day chart... it continues to chart Hidden Bullish Divergence, which means the Price has a higher low and the RSI has a lower low...this is from a macro standpoint which makes it better to decipher what the overall health of ETH looks like...Now, the prices listed are supports (lower) and price targets (upper)... another note, the DeMark 9 Indicator shows...
Polygon is in an accumulation phase since the downfall in may 2021. Last time we stated that this coin is a nice buy in the 2$ region. That's where we are now and it still looks like a nice pickup zone. The RSI dropped a little bit below the triangle and we expect it to bounce back into it within the next weeks. The bullmarket supportband is around 1.8$ and...
Bitcoin got rejected out of the bull market support band together with a drop out of a bear flag. The crypto market does not look healthy at the moment and there's no way we can sugarcoat it. Technical target for BTC in the coming week is 42K, lets see if that plays out or we can rewind some bullish momentum. Are we going into a bear market? I just uploaded a...
General Intro: - Bitcoin is the first of its kind as cryptocurrency using blockchain technology and is looked at a store of value like gold , just better. - Bitcoin will help the people to bank themselves and gives some power back to the community. - The whole crypto market follows in some way the movements of the Bitcoin price while being much more...
Pay attention to RSI and Bull Market Support band, and correlation of losing steam...
Bitcoins weekly candle will be coming to a close in less than 24 hours. There does seem to be a decrease in volume in the last couple weeks. Also there is a clear divergence with MACD and Price. If Bitcoin does not hold this support level I will be looking to take some profits. Keep a close eye on that level.
After a stellar 60% rise from 29k to over 48k, Bitcoin has been in a continuation pattern since August 9 - floating between 45k and 48k. It is possible we get our first red weekly candle after a month of green. This isn't necessarily a bad thing. We have seen many cases where Bitcoin and other cryptos need to breath before dramatic rises and setting new all time...