Would you Long or Short this chart based on what its showing? Broken Trend Line + (Close Retest) The average trader would "Short" this chart. In this case since the chart is reversed you would actually be going Long Unless price finds itself back within the Trend Line, I believe this is going in the direction intended "Down" (but in this case UP since the...
Pretty simple to read the chart. Broke Support & currently testing Resistance. Good Short opportunity in my opinion Target is 0.07 cents
Pretty simple to read the chart. Broke Support & currently testing Resistance. Good Short opportunity in my opinion Target is 0.07 cents
As indicated on the chart. April Bull Run May Bear Dip June Bull Run
Placed my Fibonacci Retracements at the Lowest Low ($3,191.30 on December 15, 2018) & Highest High ($20,089 on December 17,2017) Bitcoin found support on the 1.618 Fib and made a steady bounce. You can notice the wick rejections leading up to its rally. Right now price broke the trend line resistance and the weekly MACD is about to cross which also signifies...
As seen on the chart, Bitcoin is currently following an uptrend in the current channel. Testing now what was old resistance becoming new support. I believe Bitcoin will continue to see new highs in the near future as long as price action remains within the channel.
Bullish Scenario: Tested & bounced off 100 EMA & Trend Line Waiting for daily close above 0.786 Fib Line to confirm if Bulls are in control MACD & RSI breakout (May need to retest 100 EMA & trend-line before any more upside momentum) Bearish Scenario: Below 20 & 50 EMA Trend-line broken towards the downside within the triangle If Daily candle closes below the...
Bullish Divergence shown by the RSI (Higher Lows, Lower Highs) / (Lower Lows, Lower Highs) on Market Price Finding Support from previous resistance MACD showing bullish signs
Support at the 0.618 Fib Level ($9500 region) Resistance level 1 : 0.50 Fib Level ($11500 region) Resistance level 2 : 0.382 Fib Level ($13500 region) Next Bullish target will be the 0.236 Fib Level ($16000 region) if the triangle is broken towards the upside. Next Bearish target will be the $8400 region if the triangle is broken towards the downside.
BTC Dominance shows Bearish Divergence on the Daily/RSI (also overbought) & MACD Resistance at the 0.382 Fib level At the top/resistance of Channel.. A lot of signs pointing towards the downside on this one.
Bitcoin failed to sustain support at the 0.50 Fib level after it rose & tested the 0.618 fib line However, we are still above the 20, 50, 100, & 200 EMA on the Daily Chart I believe Bitcoin will retrace back within the triangle and first test support at the 0.382 Fib line ( or 20 EMA) If that support is broken, expect a downwards movement towards the 0.236 Fib...
As foretold in my previous analysis, Bitcoin broke out of the descending triangle towards the upside, hitting the first line of resistance just above the 0.5 Fib level. What we can expect now is a quick correction towards the 10.8k - 10.2k level as this is the next support region. However, If that support is broken, expect BTC to correct back down to the 9.5k...
On my previous chart I mentioned that we could expect BTC's next line of support around the 9300-9400 level (or 0.618 Fib) which touched down perfectly. We could expect price to go as low as the 8800 region making contact with the 100 EMA if it continues to move towards the downside. But looking at the Daily Chart & reading the news that the bank of China is...
Although we have seen BTC test certain important support levels, overall I believe we are still looking bullish. Corrections are normal and we are currently forming a descending triangle, tested 50 EMA on daily, next resistance at 0.50 Fib Line. If triangle is broken towards the down side, expect next support around 9300-9400 level (or 0.618 Fib). If Bitcoin...
Clear inverted Head and Shoulder formation, bounce off 100 EMA, Retesting 0.50 fib line. Possible drawback if fails to break resistance.
Retest 200 EMA several times on 4H, Broke upwards, Possible retest before proceeding to the next fib/resistance level