Hello! Since the the July 31 BTC is sending bullish signals: (i) breakout of the falling wedge, (ii) good volume closures above EMA 50; (iii) complete formation of a double bottom (Adam and Eve type) - a bullish pattern; (iv) MACD indicating the end of the correction. For me, the most interesting was that BTC went back to the bullish channel (purple). Yesterday...
BTC tried to break the resistance level of 10.5 k and failed for now. This is the resistance formed by the bottom between the double top. I'll be not surprised that BTC retest the EMA 18 support levels (or even EMA 50, once EMA 18 and EMA 50 are close).
YYesterday BTC escaped of the falling wedge, forming a candle with good size (acceptable volume). Additionally, we saw a close above the EMA 50, but under EMA 20. Today BTC is testing the support of EMA 50. If BTC close above EMA 50 (and above EMA 20), we will have another bullish sign. Let's wait for the end of the day and see.
BTC is trying to escape of the falling wedge. We have to wait for the close today, but it seems we will see a breakout of the resistance formed by the downtrend line 3 - the upper line of the wedge. Furthermore, the price is being negotiated today around EMA 50. A close above EMA 50 (with good volume) may be a strong indication that the correction is over.
BTC is stucked between the EMA 50 and the support zone (9.1k ~ 9.3k), as we note yesterday (see related ideas). However, we can see what might be a falling wedge pattern. Observe the downtrend line 2 (support) and the downtrend line 3 (resistance). We have almost all the ingredients of a Falling Wedge - a bullish pattern. Now look at EMA 200 and the vertex of...
BTC is being negotiated under EMA 50 (now a resistance) and above 9.1k ~ 9.3k support. By the way, this support level is being tested and retested but and there was no breakout yet. Today (july 29, 2019) is Bitcoin CME Futures expiration date and the volume is low (at least for a while). It is an odd situation. It looks like the bulls are tired and the bears are afraid.
BTC is consolidating below EMA 50. It seems ready to retest the 9.1k ~ 9.3k resistance level. Are BTC forming a descending channel? Let's see.
CRYPTO TOTAL MARKET CAP, EXCLUDING BTC, formed a Head and Shoulders pattern. We saw a rebound after de breakdown confirmation right on the direction of the neckline. The neckline acted as a strong resistence (as expected). Now CRYPTO TOTAL MARKET CAP EXCLUDE BTC is going down. Some respected analysts have pointed out that the next bull market must separate the...
In my opinion, we do not have a bottom yet. See related ideias.
BTC went back to the uptrend channel. Right now it is testing the resistance of the bottom of the channel.
BTC touched the EMA 50 (now resistance) again, and went down. BTC is ready to retest the 9.0k ~ 9.3k support level.
We probably are seeing a HEAD AND SHOULDER pattern when we analyze the CRYPTO TOTAL MARKET CAP (EXCLUDING BTC). Problem: in my point of view, volume do not confirm the pattern. What is your opinion?
Today BTC tested the support on the region between 9k ~ 9.3k. The bulls took action after a recent recent new low. Right now, BTC is being negotiated above the 9k ~ 9.3k, but below EMA 50, which was an important support (now a resistance). Although BTC is being traded with slight gains compared to yesterday's closing, there are no signs yet that we have reached a...
BITCOIN is trying to recover, but is being negotiated under the EMA 50. Let's see what the bulls will do. Folowing this chart, the first target is 7.5k.
BITCOIN made a lower high on july 10. Today, we have a lower low. First target: 7.46k.