CapitalistPeng

CapitalistPeng

On 2H chart BTC has printed inverse head and shoulders and it it currently playing out perfectly. $63,500 first stop.

CapitalistPeng

Based on this 4H chart, Bitcoin has completed the ABC correction on February 28. Wave 1 of 5 has completed on March 3, and i believe we are currently riding wave 2, which is a correction wave for wave 1. Once wave 2 is complete, we will start the wave three which is usually the most powerful wave in Elliot Wave 5 wave stricture. What do you think?

CapitalistPeng Updated 

On 1 hours chart Bitcoin printed a beautiful Hammer candle, which is bullish. Let's see if $34,970 holds during a possible retest.

CapitalistPeng

it is still a little early to call, but based on the 4 hour chat, it looks like BTC.D is printing a Head and Shoulder pattern. It will be confirmed when the support is broken. Declining bitcoin dominance with stable and/or increasing bitcoin price will lead to another altcoin pump.

CapitalistPeng

Like Bitcoin, Alts are printing a bearish rising wedge in the short term. We should breakdown within next few days or sooner. The overall mid to long term trend are very bullish, and this is a simple. organic, short term correction.

CapitalistPeng

On 1H timeframe Bitcoin has been printing a bearish rising wedge. I expect that we will break down and will test lower levels before finally hitting all-time-high of $20,000. The breakdown of the wedge should occur before Tuesday, December 1st. It is important to note that we are still in an uptrend, and the mid to long term view is still very bullish.

CapitalistPeng

Another H&S patter is developing on 15 min chart. About to break down.

CapitalistPeng

It looks like BTC is testing the trendline which started forming on March 13, 2020. Last time, during a similar test of the trendline on July 21, 2020, the price bounced off from $9,150 to $12,150. Let's hope for a similar bounce in next few days. We need to hold the support at around $11,350.

CapitalistPeng

Bitcoin has fallen out of the rising wedge. Even though it looks like the price is pushing higher, i do not believe it will be able to break and close above $10,100 in near future. I think it is more probable that we will eventually retrace to low $7,000 before breaking and closing above $10,100. IF, bulls somehow push the price above $10,100, i think we will...

CapitalistPeng

I have been paying close attention to OCEAN/BTC and i have noticing that it has been posting higher highs and higher low from August 2019. Price trend looks great.

CapitalistPeng

BTC has officially broken out of the rising wedge, which is bearish. Everyone on crypto twitter is yelling buy buy buy, but i i disagree. I think we are going to $7800 next before a possible bounce.

CapitalistPeng

I see so many bullish posts on BTC, but it looks like that BTC is developing a rising wedge and rising wedges are usually bearish, and i expect for it to breakdown from the wedge within the next few weeks. BITBAY:BTCUSD