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BTC UPDATE! FUD, H&S and MOMENT OF TRUTH! Hi, everyone! Yesterday BTC got under the pressure of FUD, and perfect set up has been messed up. 7200 was my point of no return, but we bounced from it, made a rising double bottom and heading up for now. But the problem is, that momentum was lost and we got under one more resistance that will hold BTC on the way up. It's between 7600 and 7700. The bullish scenario that I posted previously remains intact if we will manage to close this daily candle over 7450 and chances for that is really high because we are badly oversold. RSI and STOCH RSI made a double bottom, oversold, and pointing up. If we will go to that resistance ~7650, we should very carefully watch that level because if it will start to turn around at least a little bit - bears have a ground and 6380 can be on the table very soon because we have a big H&S with the target 6175 and neckline at 7265. //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSD
by LanaFL
1
BTC UPDATE. Bottom confirmedHi, guys! Hope you like my last charts and you made money together with me :) We have a lot of good news: 1) We found strong support ~5800-6000 2) We broke the longtime downtrend channel 3) We broke 6200 resistance 4) !!! We are approaching 4/1 Gann Fan that I talked about in my previous charts. It's currently at 6800 and breaking this level should bring an explosive rally. 5) RSI and MACD turned around and going up 6) Momentum went literally vertical This is the worst time to be bearish :) //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
2
BTC UPDATE! INV H&S ON THE KEY SUPPORT LEVEL - CRYPTO CLASSIC Hi, everyone! It was a boring week (as I promised) and BTC slow and steady painting the classical for BTC figure that we see at 9 bottoms from 10 - inverse H&S. Volume at the right shoulder confirms the pattern. Daily RSI is still on the sold side and engulfing upward. we also have an RSI convergence on daily since the last bullish daily candle. The neckline right at the long-time resistance level 6800 and the target of INVERSE H&S around 7800 . This means that most likely, price going to break two resistances, 6800 and 7700 and should find the support at 7600 - 7700 . It's not going to be easy and not going to be one green candle. It's likely will be a harsh road, but we should make it. I have a confirmation, so I'm going long, adding to my previous position that I hold from 5850. Good luck, everyone! //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
3
BTC UPDATE! DIAMOND BOTTOM PATTERN. Hi, guys! As we discussed earlier, BTC didn't manage to close the inside bar over 6200 which led to another quick drop. Now, we have a double bottom, but most interesting that price drew a very rare Dimond Pattern. Now we have a diamond bottom and breakout from 5950 will be a bullish confirmation. This pattern is rare and this is a reversal pattern that works out very well. Let's watch the price action and enjoy :) //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
14
BTC UPDATE. Rising flag. Downtrend continuation Hi, guys! We are currently at the wave C going to wave D(~6780) and after that, most likely will try 6980. BTC drawing a rising pennant, and target below the triangle(red lines) and highly likely will close under it, which is bearish and promising a downtrend continuation. We never see a bottom, but FOMO is really strong because we have lots of people not familiar with TA who buying every top and wasting our time. I wouldn't be surprised if FOMO will push the price higher than this bearish pennant despite the oversold condition, but the max price I can see is 7300-7500(pink, long time downtrend line). However, even if it will happen, the price should see a brutal rejection between 7.3 and 7.5 and even if tested, selloff most likely will be dramatic. Trade only at your own risk. This information is not a recommendation to buy or sell. It is to be used for educational purposes only
COINBASE:BTCUSD
by LanaFL
2
BTC UPDATE! UNDERLOOKED FALLING WEDGE - TARGET $13,50016 week Triangle that everyone was talking about seems to be a WEDGE! Here is why: Since we almost don't have wicks on the top(check it yourself on the Daily chart), we should disregard wicks on the bottom #1 rule: Wicks to wicks, body to body. If we charting it properly following this rule, we can clearly see a falling wedge and price just bounced from the lower line. That's why it spiked like that recently. $5800 has been tested multiple times and showed a strong support and now BTC testing resistance at $6250. If we will manage to break it, next stops are $6800-$7050, $7600-$7800, 9k, 10k, 11600 => Target The measured target of this Wedge is $13500 Stay tuned! //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
1
BTC UPDATE! Bottom, bounce, waves and levelsHi, guys! In this chart, I want to share with you the most important Support and Resistance levels that necessary to know regardless how things will unfold. At first of all, I want to bring your attention to the inverse H&S that I called a week ago. It keeps forming but with a little delay. Smaller INV H&S already was executed, target reached and we are heading to the right shoulder of large inv H&S. We just broke a short time resistance at $6220 which for me was a reversal/buy confirmation, but I've been greedy and scooped some at 6050 and 5950 without confirmation because it was the level of the strongest support that BTC ever has , and it would be unforgivable to miss it. Now, look at the support/resistance levels. This is key levels that we should keep an eye on to don't sell the support and buy resistance, as many folks like to do. Thiknes of this levels is calculated very accurately, so, don't disregard it , the thickness is different for a reason! Level can't be considered as broken without complete penetration of the level. My target ATM is 7600 where we will meet a very strong downtrend line that showed brutal resistance three times in a row. If for any reason that level will be broken, resistance at 9k will be a confirmation of the big move up to $13500 . Of course, we will need to deal with all resistance levels that you see on the chart on the way up, so keep this chart close to check up later on, or mark this levels on your own. //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
12
BTC SHOULD LAUNCH EVENTUALLY. TWO INVERSE H&S. 1.68 FIB BOUNCEDBTC has two inverse H&S right now with targets ~7300 and 9600. We bounced from the very long-time 1.68 Fibonacci which matched RSI 30 on daily. Dips being bought, and we see a strong bulls reaction on every drop. If you already have a position, go get a cocktail and enjoy the summer, because it will take some time. I expect the right shoulder in the middle of July, so we have a plenty of time that we can spend on something way better than staring at the charts. Trade big targets, big timeframes, earn big. Don't waste the time on charts less than 1 Day. 4H only if you are bored and want to see a live show, but don't trade small moves. In the long run, fewer trades make more money. //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
35
UPDATED! BTC reached key support level. Descending triangle. This is an update to the previous chart since I want to clarify some details: BTC dropped to the key support level that we have seen twice since "big rally" in the same time turning from the symmetrical triangle into Descending Triangle. If 6000-6500 will hold, we should finish wave "E" first, and if the breakdown occurs at 8500-8800, the target might be ~13250 at 0.5 Fibonacci and here is why: BTC is still very overbought, Daily RSI - 28, Stoch RSI - 6. We have seen this conditions only 6 times before the big rallies from 1800 to 4980, 2900 to 19980, 5800 to 11800 and 6400 to 9800, in average 7395 points up from RSI 30 on D, which is mysteriously matching a measured target of the triangle(Green arrow) 13500. Since we missing wave "E", we are at the bottom of the triangle, this level showed a strong support twice, and conditions are badly oversold, we should finish the wave "E" before going down. Lower targets from the previous chart stay intact, but not going to be reached without retracement up. Bonus: Now, for those who use a Gann Fan, you probably know, that breaking 4/1 Gann is very bullish and often delivers a huge breakout in one big candle(cluster). BTC's 4/1 at ~7000k, so we are really close to it. If 7k will be broken, wave "E" is almost guaranteed. Hold tight and stay tuned //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDLong
by LanaFL
2
BTC reached key support level. Descending triangle. Target 13500Hi, everyone! BTC dropped to the key support level that we have seen twice since "big rally" in the same time turning from symmetrical triangle which is Bi-Lateral pattern into Descending Triangle, which is BULLISH. If 6000-6500 will hold, we should reach a wave "E" first, and if the breakdown occurs at 8500-8800, the target will be ~13250 at 0.5 Fibonacci. BTC is still very overbought, Daily RSI 28. We have seen this conditions only 6 times before the big rallies from 1800 to 4980, 2900 to 19980, 5800 to 11800 and 6400 to 9800. Hold tight and stay tuned
COINBASE:BTCUSDLong
by LanaFL
2
BTC UPDATE - It's not a wedge. Back in the bear market Hi, guys! I'm back from vacation, and ready for new TA :) This is a long-term prediction, so let's take a look at the daily chart: BTC drew a triangle(white lines) and we are in the middle of the D wave. Despite some think that this is a wedge, it doesn't match several conditions to be it. I expect it to bounce from 7k and we should see a retracement to 8.9-9k after that. When wave E will be completed, we should test the spot where 1.68Fib and 4/1 Gann Fan crossing, which is around 5.2 - 5.5. Of course, previous support levels(5.9-6.3) is important to keep an eye on, but I wouldn't go FOMO, but instead, I would observe how strong these levels will be bought. It's too dangerous to get in without confirmation because the measured target of current triangle is ridiculously low, and risk not worth reward. IF(!) for any reason it will get under 5300, next level should be around 3.5-4k where is the weekly Ichimoku. And in the and of all, the measured target of this triangle(I know how it sounds, but it is what it is) is $250-$300 per Bitcoin. Traders, haters, hodlers, believers - all welcome to comment. P.S.: I never made a time predictions before, but based on the TrendTimeFib, we should see 7k around May 26, 8.9k around June 14 and 5.5 around July 15-16. So, stop to stare at the screen and enjoy the summer ;) BTC 2.09% will be boring in next couple of months //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDShort
by LanaFL
53
BTC. Two scenarios. Waves and pennantWe reached 1st and 2nd targets, but never see a bottom or oversold conditions. I think we should visit 30RSI on daily and launch up. Most likely it will be a trendline that we made with recent bottoms ~ 6.5 - 7. Looking at 1H RSI, most likely we will see a wave 5, but it 0.382 Fib will be breached, we may go straight to the target Trade only at your own risk. This information is not a recommendation to buy or sell. It is to be used for educational purposes only
COINBASE:BTCUSD
by LanaFL
1
Update. BTC. Rising wedge broken. 5th wave should be on the way**Update: We had exact same wedge right before this one(yellow lines from 8600 to 9800 and down to 7800 ~March 11-13 ), and now it's painting a bearish a flag. 8500 area has a lot to tell. Watch it closely. GL Although most of the traders were bullish, and keep posting bullish charts, BTC 0.50% painted a rising wedge (yellow lines) and we successfully broke it. Rising wedges tend to come back to the base, so I expecting wave 5 and double-bottom before the real launch Sorry for the delay. As you can see, I posted this rising wedge before it's got broken on Twitter and forgot to post it here.
COINBASE:BTCUSD
by LanaFL
5