gbpusdAfter a strong spike, we are currently in trading range. I expect defeat from below and the continuation of the second downward step.
Stall
#bitcoin - Stall on WeeklyGood morning everyone.
It´s been a while, sorry for that, but privately I am involved 24/7 thxn to the challenges that Covid-19 had for all of us.
Anyways, I feel it´s worth to make an Update on the weekl now, since we have reached not only a key-level, we
also slid into a typical stall. At the moment there is still room to the upper trendline, but 10k again turned out to be a rather tough nut.
Usually traders argue about how long a price can stay in stall without being too endangered for freefall, it really is not much missing to initiate a move.
The Yearly Pivot got picture perfectly retested, before the price moved up again and also overcame the long-term leadline again. That´s all
relatively bullish, not only because a sell-off after halving did not happen. On smaller timeframes we had a double-top danger, which did not came true and shorter´s
had a pretty rough time recently when they did not set tight targets.
Price movement always reminds me a bit of aviation, the way up is slow and needs a ton of energy to overcome nature´s laws & forces. The way down is immenent.
Wikipedia´s definition of "Stall (fluid dynamics)":
In fluid dynamics, a stall is a reduction in the lift coefficient generated by a foil as angle of attack increases. This occurs when the critical angle of attack of the foil is exceeded. The critical angle of attack is typically about 15 degrees, but it may vary significantly depending on the fluid, foil, and Reynolds number.
Stalls in fixed-wing flight are often experienced as a sudden reduction in lift as the pilot increases the wing's angle of attack and exceeds its critical angle of attack (which may be due to slowing down below stall speed in level flight). A stall does not mean that the engine(s) have stopped working, or that the aircraft has stopped moving.
Best wishes. Neru.
Price should stall at Resistance for $XRPWith the latest move higher in price, but with falling internal momentum, the price should stall at fib resistance or 31 cents
Fibo
Bitcoin (BTC) stall at critical point - Whats next for Big B?This analysis is meant for my own educational purposes and for making discussion around the current situation. I am by no means a professional trader, and I advice against making trades based on this analysis.
Bitcoin made a pretty strong bounce off from 6000 USD with an all time high volume on the daily chart to back it up. There seems to be a strong bullish sentiment forming based upon the clear bullish divergence on the MACD (Red trend line). However the coin has stalled at the very important 50 day EMA (pink) which has proven to act as a major resistance on several occasions. Trading volume has been declining even after binance reopened and there is indecision in the market.
So where do we go from here?
It is hard to answer at the time, as it is just as likely to go both ways.
If bitcoin breaks through the 50 day EMA and we see some rising trading volume, we will likely see it surging to the next major resistance which would be the 100 day EMA (orange) and the point of the most recent top (around 9500 USD). However, if the bulls don't start initiating and the volume keeps declining, we could see a symmetrical fall downwards to test the support at 6000 USD. If this is the case, keep an eye on the trading volume whenever a new bottom seems to be forming. A double bottom at 6000 USD would be a strong sign of a trend reversal and if backed up by volume, we could see a massive bounce towards the 100 day EMA .
I do not recommend any trades until we see stronger signals of which direction we are heading.
What do you think of the current situation? Have the bulls already found the bottom or are the bears still in control?
