I feel thats going to be the case. currently I am not having any bias. But i feel its likely to go towards the support side rather than resistance.
So far, there has been 3 major up trend with recent one relatively smaller than the previous ones. There is something common in the previous trends though. They have retraced slightly below 0.786 before a major move up crossing 7x21 weekly EMAs. This recent drop also looks similar to me if considered the previous ones. 7x21 weekly EMAs has played out pretty well...
Bitcoin is at a level at which, if it has to bounce should bounce from 7250ish level. This is the time. The trend line is also in confluence with the 61.8 fib level. If the bounce with volume fails, we see it break the crucial fib level of 61.8 and a further move down to the shown support levels of white lines. The daily chart was so weak that it wasnt able to...
This is what I call an organic growth. Let the whales dump, but this is going NORTH!
Bearish divergence on H1 and also the price rejection at 200DMA. Should hold support at around 8200 zone.
A large triangle seem to be forming on weekly bitcoin chart indicating the price to go down to 4300-4500 by the mid of december 2019 approximately.
As you can see on the chart, a perfect ascending bullish triangle has formed. Expected to break out at the level shown on chart per measurement
The white one is bearish divergence and the red one is bullish divergence. Which one do you think will work?
Looks perfectly in a channel and an inverse ascending triangle on H1. Per measurement this should go down to 7650ish.