Death cross on daily. Target can be 3600-3150. To regain bullish territory btc should close daily candle above $5900 and hold.
This pattern has been picked up from a textbook of elliot wave which is acting accurately so far.
Bitcoin is free falling. Next support is more valuable because it is based on same support line which saved btc at 6477 region. let's see what happened when it hit there. Market is also in extreme fear @17 today. If bitcoin bounce from here then resistance would be around 87-8800.
If this daily H&S pattern played out then target would be $6600-7200. while bitcoin has $9500 major resistance upside if it broke 9200 zone.
It can be a minor correction with $9000-9500 supports or start of a major down side if price didn't cross 10150-500 upside after support touched.
As you can see in the chart, bitcoin is clearly moving in a downward channel so possibly it can breakout to upper trend line 8700+ and then came down or can also keep sliding with the lower trendline. There's a long term gap awaiting to be filled at 7400 (good entry point for short term) and btc has to touch that level no matter it goes up for short term or slide....
Volume is squeezing so short term bearish target can be around 10.4k IF MACD do cross. On the upside targets are around 10.8k and 11k. 10.5k support zone. Prices can down then get support then down and support. I'm publishing this idea just to check results later I'm not sure about price actions just testing an indicator. No financial advice
Next downward move around white and red line target 10188-134
it's a personal note to check price action. For upcoming few hours price upward movement can be around 10273-300 and downward can be around 10134. MACD is about to cross so touching/crossing green line chances are high. publishing just to check back later. No financial advice
Alts dominance can drop more in upcoming days based on MACD but so far is didn't break the support line.
Let's wait and see if this work out or not.
BTC is clearly in downtrend until is doesn't break above 11k. All the way it's respeting the sine waves, Each sine wave has a cycle of 6 days on average means btc change the course after 6 days on average. Saving this chart to see either it respect the sine wave further or not.
As I made some trend lines on 4h chart, DTL, RSI and Aroon indicators. Whenever the touch upper side a downward move happens. Now all 3 indicators has showed upward direction so a down side wave is expected soon, BTC has not briefly broke the 0.38 fib if it failed to brake it then a dumb can happen.
As chart shows we are down below on EMA 10 and Keltner Channel so if we could managed to close daily above 9500 fairly then scenario can be bearish and maybe this time 9k support won't save. Next stop would be around 8975 new lower low. Weekly and monthly close is also near so a red candle close means start of new bearish era. At weekly chart MACD in dented...
As you an see in above chart bitcoin dominance has broke the previous side way trend and now journey started towards a lower level side way trend as you can see since the ATH, btc dominance is falling down step by step altough steps are small but putting major impact on price. It seems hard for btc to reclaim new previous upper level dominance. I think if btc...
On weekly chart we are clearly in downtrend now. But did anyone noticed that where this downward move wanna take us? Is clearly leading us towards the Ichimoku bullish cloud. Once we entered the cloud a next bull run will start. But to enter into that cloud which might me come in mid Nov 2019 prices can still remain bearish. It's my personal views but maybe its...