BTCUSD is impending on its third attempt to break through the resistance zone of 69-70K, having hit about 72K on March 13th. Buying volume relative to selling remains high. Both the faster and slower RSI lines remain above 50. I amd holding my long position in BTCUSD and watching to see if price can break resistance. If it can another leg higher could...
Should I Short USD? Yes or No? If yes, then how? If no, then why? The question is simple, but the answer may be complicated. Therefore, we will dive into the macroeconomics of the American economy, with consideration given the most significant factors influencing the value of USD. > OBSERVATIONS 1) Since March 2020, USD appears to have lost approximately...
Reason to enter buy 1. weekly resistance (blue line) 2. weekly demand zone (green zone) 3. confluence resistance & demand zone 4. possible double bottom
Although BTCUSD had some up and down momentum in May to June it has been weak lately as noted by the excursions on the histogram of the MACD indicator. On the daily chart, I see Bitcoin in a slowly ascending megaphone pattern. This means that the higher highs are on an ascending resistance trendline as compared with the lower ascent of the supportive...
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bullish confluence here with $bear rising wedge setup. admittedly, we weren't expecting powell to rock markets like that heading into the weekend, but it's given us a great opportunity to make it all back in one trade. linked btc setup as well.
there's nothing quite like a 5 min powell speech on a friday morning to completely nuke the market. unfortunately, looking right now like a 5 wave down A, so we should be expecting an ABC wave B, followed by another 5 waves down for C. our standard wave B retest zone confluently sits right at the aug and q3 vwaps. looking for somewhere between 23 and 24k.
Macroeconomic backdrop:: With sentiment in markets rising slightly from peak fear, due to recession fear provoked significant pull backs in commodity prices. Providing a likely reprieve in expected rising inflation concerns. This might in turn, influence central bank interest rate decision makers, too slow the rate in which they hike rates. Although we can only...
Bitcoin isn’t even on the curve yet. This logarithmic chart dates back to August 2011. Look at the trend line which formed on April 2013 to date. It looks steady, does it not? Yes massive volatile 80% swings etc. Never the less, it’s a steady up trend. Now take a look at the first ath of 1.1k in 2013, following that through to the next ath at 19.9k in 2017. We...
Buy bitcoin Entry : 47500 and 47800 Target : 58000 ,60000 Stop : 39500
This is another reasonable way of counting that decline. It could very well be subwave (c) of wave ( iv ) down, Under that count bulls have a setup to rally to 65,000 in subwave (a) of wave ( v ) up.
My long term analysis price of Bitcoin, I wonder what other people think? I am a big believer in crypto and one day it will get as high as shown on the graph! I advise everyone to buy in 10%-5% of your income (salary) each month, no matter what the price is today! Don't wait for the pull backs, as you will buy your bitcoin higher and lose out. In just a couple of...
as the chart reacted to the cluster layer in 43500, it seems it made it's correction and ready to move up toward 58000 or even maybe 67000
This is one of the bearish scenarios which could occur for Bitcoin. Targeting $42k-$40k zone then bounces back. this scenario is invalidated if price goes above $51K.
Hello friends of the Shark. The Shark has been enjoying the down time that comes with sideways action. The Original plan is the same that I posted months ago. We broke out of trading range 1 and met resistance at the critical line of 42k. We sold off there some and we are in the process of proving it as support. Bitcoin will blow thru 42k here soon and head to...
Bitcoin is finally going through its resistance levels these days, according to the positive news. Higher targets are prepared for hunting according to the cup pattern.
It is normal to panic when prices drop but it's always a good thing to analyze the entire chart and see if there is indeed a valid reason to be panicking. Our ZTrend indicator is really good for evaluating direction and strength. It is based on moving averages and standard deviations. In the chart above we have it setup from top to bottom with the following...