It is just a question.
Monthly chart: BTC remains in a symmetric triangle.
BTC is testing an uptrend line that was initiated in the beginning of 2019 (see related idea: BTC: things are clear now). In my point of view, it is an important support. If BTC break down this line... By the way, I have a question: do you see a Head and Shoulders (with confirmation breakout) on the BTC daily chart?
Yesterday I published an analysis (see related idea: "BTC: acting as expected until now") that I said: "I think there is low probability that BTC surpasses the 9.1 ~9.4k congestion zone (strong resistance) right now; I expect a correction, I do not know the extension of that correction". I wrote that analysis while BTC was in the 8.9k level. At that time, I was...
BTC is acting as expected. It tested EMA 200 as support and then went up to the 9.1k level (I'm glad to say I had good profits, but it could be better; I have to improve my trade strategy). Now we have to watch. I'm neutral right now. The following points will give hints about the next trade: 1. I think there is low probability that BTC surpasses the 9.1 ~9.4k...
Yesterday BTC tested EMA 18 as support. The closing price was right on EMA 18. Today BTC dropped down a bit and tested EMA 200 as support. BTC reacted and is being negotiated above EMA 200 and EMA 18. Those are interesting tests, in spite of MACD - it is suggesting that bears are taking control. Markest goes up and down but the recent events may indicate that...
A lot of analysis was made about BTC trend. I posted a lot. But, for me, things are clear now. BTC is in an uptrend SINCE february 2019. I want to refer to my analysis "BTC: consolidating (warning: Death Cross?)" - see related ideas. This was the when I first drew an uptrend line starting in february 2019. In the chart I'm publishing today, this uptrend line is...
XBT in a uptrend. Higher highs: black circles Higher lows: red circles. Levels to go LONG: 8.1k and 8.5k
Today we are seeing a new test of EMA 200 as resistance. This is something to watch closely. I think that BTC will correct at least to the 7.5k. See related ideas.
On the chart, we have 3 EMA: EMA 18 (green), EMA 50 (yellow) and EMA 200 (kind of purple). BTC failed to brekaout EMA 200. Furthermore, we have EMA 18 and EMA 50 around the 7.5k level (on the bottom of the congestion zone 7.5~8.3k). MACD is suggesting a correction movement. If this movement is confirmed, then we will have the following targets: 1) the 7.7k...
BTC is testing EMA 200 as resistance. Maybe it reaches 8.2~8.3k level and went back to retest EMA 50 as support. Scenearios: 1) If BTC surpasses the 8.3k level, the path will be clear to 9.1~9.3k; 2) If BTC suffer a correction, the targets are 7.5k, 7k and 6.5~6.6k levels.
I haven't published BTC reviews in a while. And the chart I'm publishing now did not received updates since then (I just marked some things and change some colors). I just wait the time passes and see what is going to happen. And today something interesting happened. To see what is happening, observe this: a. the purple uptrend line that started in january...
Just an update. See related ideas.
Where is BTC going? The answer is on the chart. And the answer is frustrating: nobody knows. A monthly BTC chart shows that it is being negotiated in a huge symmetrical triangle. Some say that symmetrical triangles are continuation pattern. In fact, symmetrical triangle express doubt. BTC is going to 4k or even lower? Nobody knows. BTC is going to the moon?...
We saw a Breakout of the downtrend channel last saturday. Good margin, good volume. But, we do not have another chart pattern to indicate that the downtrend was reverted. We have to watch and see.
ZRX formed a cup and handle pattern (reversal). Breakout last october 14.
XRP broke up the upper limit of the falling wedge on daily and weekly charts. It is not a decisive breakout yet. Observe: when prices "move out of a Falling Wedge, they are more apt to drift sideways or in a dull 'saucering-around' movement before they begin to rise" (Technical Analysis of Stock Trends, Edwards - Magee, Bassetti). On the present case (XRPUSD),...
BTC has formed another bearish triangle. The most interesting thing about this triangle is that the Hypotenuse of this triangle is just the continuation of the downtrend line (black dotted line) formed by the peaks of june 26 and july 10. The most recent test of the resistance of this line occurred on october 11. Another thing to note: the area between 7.5~8.3k...