I have looked at the BTC chart and what I can see now is a turnaround from a long miserable down period.
I'm not saying that this is "going to the moon", but looking at some signs I think we are definitely going to see some major moves.
Here is why.
Dec. 15 to now we have had 5 solid green candles with around 140K volume. The volume is not tremendous but its...
I'm cautiously optimistic or even doubtful that the bitcoin price will break through my blue resistance line.
WHY?
1. It's failed 4 times before to break through the blue resistance line.
2. We are now in a 11 month downward sloping trend
3. Failed to maintain over 61.8% Fib line
4. Low recent volume relative to...
We are at a critical point here as far as the near future of BTC.
Underlying slightly increasing bottom and a decreasing tops for the last couple of months. Now we have 1 month of (sept 9 to oct 6) clearly raising bottoms and some raising tops. This is where it gets tricky we need more volume to break past that 61.8 fib level and hold. I'm thinking around the...
I like what I see inside the golden support and resistance lines with the four straight rising support levels. I was hoping at that light blue line that I drew that the candles would have broke through my resistance line. It failed to do so at this attempt, however now there is a second attempt coming up at the 4. Volume needs to pick up for this to happen. Right...
BTC has now crossed my 1st resistance line and is heading toward the 2nd resistance line. This 2nd resistance line has been a problem on multiple occasions (june 20, july 8, Aug 25, Sep 2). At this point I don't see the volume needed to break through. I'm looking for 6000 + daily volume to crack this resistance line. At this point we are at 4600 volume. With 4...
BTC went all the way up to the 2nd resistance (6750) line only to break down even below the 1st resistance line (6500). Looking at the 4 red candles (6740 to 6400) i'm thinking that we should get a small bounce back above 1st resistance. I don't know if it has enough juice to make it up to 2nd resistance or beyond, but there is a small upward pattern forming in...
BTC went all the way up to the 2nd resistance (6750) line only to break down even below the 1st resistance line (6500). Looking at the 4 red candles (6740 to 6400) i'm thinking that we should get a small bounce back above 1st resistance. I don't know if it has enough juice to make it up to 2nd resistance or beyond, but there is a small upward pattern forming in...
I'm just continuing from my previous btc chart. At this point it looks like BTC is sticking around that 6700 resistance area. I think eventually it will break upward and head to my next resistance point.
Looking at the bottom of the chart you can see that the trend of lower lows has reversed and we now have a slightly increasing bottom. I was really watching to see if the Sept 17 lows 6255 would hold above the Sept 09 lows of 6175 which up to this point they have. Now its a matter of weather BTC can break past the 1st and 2nd level of resistance. If BTC does than...
