BTC dropped below the daily on November 8th crashing to the range low of 15.5k by 20th November. Now it has crossed back over the daily RSI 50 it could signal a bullish run up to the top of the range @ 18k
Bitcoin has entered a Wedge / Bear Flag on the 4H Time Frame. With continuation bear market sentiment, and statistical probability that this will break to the downside, the target is 14.3K based on the height of the wedge, or 27.4k in the unlikely situation we get a temporary relief rally, which would then meet with resistance at 29-30k based on the POC from the...
Based on a number of areas of confluence, is it possible that BTC will bottom in September 2022 at around the 17,250 mark? 1) Hitting the Fib retracement at 0.786 2) Representing a 40% retracement from the most recent low (around the 0.618 Fib) 3) Continuation from the currently weekly/monthly downtrend corridor bottom 4) Below the prior ATH from the last bull...
Based on prior retracements from ATH, $BTC has already reached the depths of the prior summer lows, retracing by 50% since the ATH of 69k. We are now reaching a point of confluence where the 100W moving average is approaching the support line connecting the summer low with the January low of 33k. While March is historically a negative month, April is...
Bullish Flag / Falling Wedge Should break to upside Price target US$41.5k Good luck everyone!
Following 60 day cycle theory, and assuming the most recent 60 day cycle bottom comes in 1st Feb, here would be key milestones 1st Feb 2022 - Cycle Start / Local Bottom @ US$29,500 1st April 2022 - Mid Cycle / Local Top @ US$27,500 11th April 2022 - Cycle Start / Local Bottom @ US$19,500 1st May 2022 - Mid Cycle / Local Top @ US$40,000 10th June 2022 - Cycle...
BTC showing classic ascending channel on the STF (1h chart) Given the current downtrend, statistically more likely to break to the downside Should it break to the upside, BTC will return to the bull market support band level (51.5k) where it was recently rejected DOWNSIDE TARGET - 47.5k (More Likely) UPSIDE TARGET - 51.5k (Less Likely) In the event of a...
BTC continues in the descending channel on HTF Now a clear bear flag is developing with rising wedge Downside target of 45k by 11th December Once we hit the target we should expect a bounce, followed by a lower high as we continue to consolidate to the downside Max pain will ultimately be hit by end of January as we reach the end of the new 60 day cycle Expect...
BTC is showing increased weakness on the rising channel and seems to have broken out of it. Unless this is a fakeout and we bounce back into the channel and upwards, the price target from the measured move to the downside is 47.8k. Good immediate short opportunity with SL set at 52k for a 1:2 risk reward ratio. Safe trading everyone and hope you make some $$$
BTC is within an ascending channel on the STF Breakout to the upside is possible with the overall HTF downtrend, a break to the downside more likely DOWNSIDE TARGET = 50,500 UPSIDE TARGET = 52,500 Let me know your views and feedback in the comments!
While this may be an unpopular perspective, I wanted to present a potential bearish scenario where BTC continues to follow the same path of the May/June 2021 downturn, reaches a point of maxx pain @ US$40k by end of January 2022 and then exacts a strong recovery back to ATH post March 2022. Reviewing the last time we had a major dip from an ATH in May 2022, and...
Ascending wedge on STF Downside target is 48k Would bring BTC price back to the lower end of current range in which it has been trading sideways Immediate short opportunity from 49.5k to 48k
-BTC is now on a bearish breakdown from the short time frame wedge structure -Downside target price based on wedge height is US$43-44k -US$44.5k is the intersect of the 50w EMA so likely to be strong support -Look for a wick down to US$43-44k and then for price to settle at US$44.5k -If this level is not held, then the potential further downside risk is into the...
Based on the massive downturn we just experienced this seems a realistic fractal Combines the May dip with the pattern afterwards with an extended version of the 4Q 2020 / 1Q 2021 run up. Comments and criticisms welcome!
It seems inevitable that we will test the US$53k due to the multiple confluence points at this level: 1) Support level from daily support line 2) Transection of Bull Market Support Band at 21w SMA 3) Edge of descending broadening wedge This level is also where many of the spot bids are placed on most exchanges so seems highly likely!
Descending channel on STF which will like reach the bottom of the Fib retracement at 1.922 or the 1.982 Fib at least Upside target of 7.29% based on the flag pole - US$2.131 Downside risk less since we are already at the end of a significant retracement from the last pump
-Typical falling wedge pattern on STF -Upside target @ US$39 - Breakdown target @ US$36
Typical rising wedge pattern Downside target of 52.5k / 53k If breaks to the upside we are looking at 56.6/57k