As predicted if we go below previous trend lines at approx. 55k we would hit the 128 daily MA and then continue to previous swing lows at approx. 47k. We overshot the the 47k by 1000 and bounced back to the 128 daily moving average. Bitcoin always overshoots its targets, due to massive liquidations on over-leveraged trades! Holding at the 128 daily MA makes me...
TD Sequential buy signal on the hourly chart, needs confirming by closing higher on the following candle to trade safely! Remaining short until a confirmation above 52.888, stop loss should be set at current candle swing low.
Next stop 49.600 (128 daily moving average) and 47.000 (previous swing low with TD buy signal)
The previous ascending triangle lost its importance after the breakout to the bottom and then bouncing of the December trend-line several times. We now have the December trend line supporting the upwards trend and the ascending triangle switching from support to resistance. Breakout to the upside above previous swing highs at 59.600 and to the downside below the...
Trading inside the symmetrical triangle for 42 hours with a tightening Bollinger Band, about to explode to the up or downside. Looking for breakouts above 52ct or below 49ct in this tense range.
We here at the Bitcoin Headquarters would like to express our appreciation for your dedicated patience while we refuel the rocket for another take-off if the weather forecast is positive. 🤣🤣🤣
Breakout rejected due to low volume and now bouncing off the bottom of the ascending triangle. I'm remaining bullish and waiting for a breakout. Ascending triangle have a higher chance to breakout to the upside. Increasing volume helps to confirm the breakout, as it shows rising interest as the price moves out of the pattern. If the price breaks out on low...
BTC is rising above 59k on weak volume. Caution is still advised as this can still go both ways, with a fake breakout to the upside.
To put things into perspective, we've been trading this range for 76 days. We haven't even touched the 20 weekly moving average, something we did 4 times during the 2017 bull market. This long period of consolidation reminds me of a similar situation in June 2017. Volume has been slowly declining and the range is getting tighter, all signs of a breakout, but when...
Today's 1h bull flag failed at the previous daily closing swing highs. Usually bull flags are very reliable, but this one failed due to low volume. Not surprising after we managed to pull from the trendline at 53k all the way to 58k, that's a $5000 dollar increase on the previous day. I'm still overall more Bullish than Bearish on the continuation of an upward...
We are seeing a classic bull flag on the hourly chart which has the potential to push us above the 60k. Daily swing trading is currently in a no trade zone, so let's hope this bull flag plays out and we see movement to the upside.
We didn't manage to push up to a previous swing high of 61.800 and fell back down to the blue trend line we've been following since last year. If we break below the blue trend line next level of support will be at the 128 daily MA (green MA). If that doesn't hold then the final line in the sand is just below on the red support line at 47.000 (previous swing...
On course as predicted. Another 1 -2 days up into the 61.500 range and another short 1-4 days correction.
We did get a buying signal on the TD sequential looking for 9 more days of an upward trend, confirmed with a following green candle above the previous candle (caveat the day has just begun). We're above the trendline from December 2020. We didn't quite hit the 128 day moving average, that concerns me. Buying volume on various exchanges (Binance, Bitstamp,...
In the 2017 bull run we saw BTC bounce off the 128 daily moving average 4 times. This would be the first time we see this same thing happening in the current bull market. During the rise to the current ATH we have been in a bullish divergence, which has ended and the market can breath in fresh new money on the way to new ATHs.
With most descending triangles we have a probability of a 70% breakout to the bottom. Place your bets on table, but beware as in all patterns there are frequently fake breakouts to both the up and downside. I don't believe the "halving effect" in just over 240 days has been priced in and that it can still produce a lot of hype. Halving hype with recession FUD will...