Only for educational purposes only – not financial advice. Fibo levels lookin dank. Only bad thing is the uptrend of bitcoin dominance (CRYPTOCAP:BTC.D), which refrains me from entering too much. Stay cautious!
First touch, Second touch, Rejection at 50 weekly MA and then 3 rd touch and out of the park
Market manipulation What is Manipulation Manipulation is the act of artificially inflating or deflating the price of a security or otherwise influencing the behavior of the market for personal gain. Manipulation is illegal in most cases, but it can be difficult for regulators and other authorities to detect. Manipulation is also difficult for the manipulator as...
After longer study on larger time frames my own assessment suggests that there is more down for BTC to come. NVT ratio (Bitcoin's NVT is calculated by dividing the network value (market cap) by the the daily USD volume transmitted through the blockchain) suggests that Bitcoin is currently overvalued and needs to cool off a bit, market capitalization is not looking...
In summary, Crypto is still fairly new and I'm not a financial advisor. I think that BTC is bullish in August, but correction after that could be brutal. I'd be grateful, If you could leave some comments n advice on my next TA (If I can call it that way.)
I looks like btc will continue up and down through this channel and once it breaks out of the downtrend then we are in blue sky's. The macd on the daily candle seems to have juuuuust crossed ever so slighty.
This is not the prettiest inverse head and shoulders I have seen.. but it does seem like we have broken through the neckline. ( The right shoulder just doesn't really look like a shoulder so I'm not sure about this) First resistance and maybe a bounce back would be at the top of the small channel btc is in right now. If it breaks through then next resistance is...
I see the right shouder of this reversed head and shoulders finding support on the long term trendline of the growth of bitcoin. Which indicates upside especialy in combination with this reversed head and shoulders.
Good volume coming in and a bounce of the bottom trendline with a crossing macd. If you look at the daily candles the rsi is extremely low, which often indicates upside coming back into the market. I definitely expect btc testing the resistance of the trendline again. And maybe even breaking it if the crypto news out of the USA turns out to be good. What do you...