


Bitcoin price action analysis, and bot signal review.
Bitcoin range is confirmed between 35K and 38K (see blue rectangles on chart). As I went over in my previous article and stream, assign probabilities to these levels UNTIL one of them breaks. Since the broader trend (price structure) is still BULLISH, the resistance area (38K to 40K) is favored to break while the 35K support is more likely to hold. Using these...
Bitcoin price action analysis, and bot signal review.
Bitcoin has rejected the 40K area resistance swiftly over the previous week but that bearish momentum has also failed to follow through. What is going on here? This can be a bullish consolidation as long as the minor support at 35K stays intact. The higher probability opportunity in this case would be a double bottom or failed low off of the 35K support (see...
Bitcoin price action analysis, and bot signal review.
Bitcoin has pushed into the 37K resistance and has yet to produce a meaningful pullback on the daily time frame (see my recent articles). There is another momentum continuation pattern that has yet to confirm on the daily time frame now (inside bars). Upon a break of 37,500K a new long signal will be in effect which can lead to a test of the 40K resistance. For...
Bitcoin price action analysis, and bot signal review.
Bitcoin is exhibiting signs of exhaustion around the 35K resistance area. A failed high can potentially develop here which can lead to a retest of the 32K support AREA over the coming week. This activity should not be too surprising since it appears to be motivated by rumors rather than reality. People love throwing around opinions and pointing to explanations...
Bitcoin price action analysis, and bot signal review.
Bitcoin has generated a new swing trade long signal on the daily time frame upon the break of the 26,250 candle high (couple of days ago). This is a momentum continuation pattern and it can lead to a test of the next resistance area around 37K over the coming week. This context is ideal for day trades or swing trades only, these are far fro ideal levels for new...
Bitcoin price action analysis, and bot signal review.
Bitcoin short squeeze continues to the 30K resistance. In terms of momentum this move is significant and should shape smaller time frame strategies, BUT the bigger picture is another story. New resistance is the 31K AREA, new support is 27.5 to 28.5 AREA. Based on the new developments in price structure, I suspect a potential test of 31K BUT I believe a break is...
Bitcoin price action analysis, and bot signal review.
Bitcoin has chosen the scenario that I outlined in my previous analysis. The evaluation was based on the 28.5K resistance area that has yet to be compromised. IF momentum stays intact over the coming week, a test of the 25K support area is within reason. On that note, there are two inside candles in place with an established low of 26,500. A break of this low...
Bitcoin price action analysis, and bot signal review.
Tough price action for both longs and shorts in Bitcoin. Drawing perspective from the bigger picture can help to assign probabilities to a narrower range of outcomes. This is not an attempt to forecast the market with an absolute certainty, instead it is a way to prepare for a variety of scenarios that Bitcoin may choose at any moment. First let's consider the...
Bitcoin price action analysis, and bot signal review.
Bitcoin continues to respect the 27,500 area resistance. IF this continues, it suggests that a more bearish scenario is likely to unfold over the next week or two (see drawing on chart). Based on recent price structure, price can potentially test the 25K support area yet again. What I described here is context. Add to that the recent lows on bond prices, and it...