This update is just wanna make things more clear and simple. And it should be noted that support may turn into resistance, and vice versa. Not Financial Advice :)
Combining fibonacci retracement levels and recent lowest bottoms , currently there are 3 support levels including $49300, $48000, $46500, and obvisously $51000 is still a strong resistance. I will add long position at support zone and close part of my long position near resistance zone. And it's ok to short BTC at $51000 but not for long, considering the...
From daily chart we can see that BNB has failed to breakout fibonacci resistance zone several times. I will enter a long position after BNB breaks above resistance in consideration of the bullish market background and there are many traders using BNB to pay the fees for earning discounts. It's practical to buy some BNB spot too. Watch out fake breakout. Not...
As I mentioned before, there is a strong resistance at $51000, lots of people sold and short Bitcoin before price reaching $51000, it's really hard for Bitcoin to breakout previous top($50500). But looking at the big picture, Bitcoin is not in danger, the market are still bullish, I think this resistance will be breaked soon. Currenly $48000 is the first major...
Look over the 15min chart, BTC has formed a Ascending Triangle Pattern. Go up or go down, I think we can see the result soon. Watch out fake breakthrough. Not Financial Advice :)
Analysing support and resistance is helpful for us to find better entry and exit, so how to determine the next strong resistance for Bitcoin after a big jump ? Attach the Fibonacci retracement tool on the highest top (64854) of Bitcoin's price history and drag it to the lowest bottom(28805) in the past few month, as you can see in the figure above, there is a...
BTC has brokeout Decending Channel, and the next resistance will be around $48800
Today BTC price droped to around $46500 and stop droping by getting support at 0.618 Fibonacci Retracement Level, this level have been test several times in the past few days. We can short BTC if price breakdown this level, or open a long position if BTC getting support again. Watch out false breakthrough. Not Financial Advice :)
ETH price breakout from a Ascending Triangle, which means we can open a long position at that time. Remember this pattern, we won't have fomo next time.
From the 15min chart we can see that BTC still stuck inside the Descending Channel, and there is a fake breakout yesterday, but the price range is getting smaller, which means we can see a new breakout or breakdown soon.
BTC Head Shoulder Top Pattern finished building, it's a strong bearish signal ! Short BTC now and tomorrow you will get a Lambo !