nagyandrasgall

nagyandrasgall Updated 

Looking at the HTF weekly chart, this is still a wedge. Opening a short here offers a good RR. Entry: 34400 Target: 17200 SL: 40000

nagyandrasgall Updated 

The descending broadening wedge shown on the chart is a sign that the selling of Bitcoin has been slowing down, and there is a chance for a temporary reversal. I also think there is a support around 24300, so if the price dips to that level, it can be a good entry for a long position with a target 28000 and stop loss: 22500.

nagyandrasgall Updated 

Bitcoin is forming a big wedge on the weekly chart, that means a breakout to the downside is more probable. Target 12-15k.

nagyandrasgall

Although in my last idea I suggested to go for a long, things don't look so shiny at the moment. The price didn't respect the outlined bull flag, so I consider that idea invalidated. If we are looking for a pattern, the one that fits the most is an ascending broadening wedge. Of course it is still possible to make a new local high above 25k, but I think it is...

nagyandrasgall

Bitcoin is moving in a descending channel since 15 Feb, and I think there is a good buying opportunity at the bottom of the channel (around 22400 at the moment). Target 27k, invalidation below 21500.

nagyandrasgall

Although I still think a relief rally is more likely than a dump to 20k, the current range of Bitcoin seems exhausted. Not enough buyers above 30k at the moment. So a possible scenario is that the price will retest the middle or the bottom of the channel, and will bounce from there. The important levels to watch are on the chart. Breaking out from the channel to...

nagyandrasgall

One way to interpret Bitcoin price action is the channel shown on the chart. I think a breakout to the upside is more likely now, either immediately or after one more dip to the lower boundary of the channel. Bitcoin has closed 8 red weeks in a row. I know it is a downtrend but let's stay realistic and expect a correction.

nagyandrasgall

My last analysis was almost perfect, it only missed the target a little. I hope if you followed my idea, you could still make some profit. Now I feel the panic is worse than the situation. Everybody is bearish on twitter, opening shorts, but Bitcoin still has not crashed. I am prepared for a crash but until then there can be other opportunities to trade. The...

nagyandrasgall

ADA is showing strength and the support around 0.7-0.8 seems strong. As long as Bitcoin rallies, ADA also has potential. I think this coin is undervalued right now and dips offer a good opportunity to buy.

nagyandrasgall

Bitcoin came down nicely from 43k. Now there is a chance it continues its way down and crashes, but a bounce is also possible from the 38-39k support. On the chart I included the most important lines to watch. If the price drops a little more, it can be a good opportunity to buy. Entry: 38500 Exit: 41000 Of course it is just an idea, it can turn out differently.

nagyandrasgall

My previous analysis was not much of a help, because it didn't contain exact numbers about where to sell short. This time I try to be more precise. Bitcoin is having a correction after the last two weeks' fall, but I still don't think this is the beginning of a bull run. My plan is to sell short at the 20 day SMA or higher. The ascending macro channel support...

nagyandrasgall

Hanging from a cliff is dangerous. While there can be a few inches more to the upside, it's easier to fall. At the moment it looks bearish to me.

nagyandrasgall

From my previous analysis the bat reached its target. Now we can see a similar pattern forming, let's call it a diamond. It is usually a (temporary) reversal pattern, so I expect a breakout to the upside, but it will be possibly smaller than the previous pump. There is a strong resistance at around 42k given by the descending trendline. There is a chance we reach...

nagyandrasgall

Look at this beautiful bat, I think it can fly higher.

nagyandrasgall

I drew the trendlines that are the most important to watch now in my opinion. One should buy above a line and sell below it. Personally I'll try to sell at line 4, because I feel bearish. The last pump was only a speculation that Russians are going to buy bitcoin to bypass sanctions, it seems it's not the case.

nagyandrasgall Updated 

Bitcoin seems stucked at the 42k resistance. 41400 support barely holds and looking at the smaller timeframe chart patterns I think a small dip is likely to around 40500 before it can go higher.

nagyandrasgall Updated 

Bitcoin found support at the ascending trendline (1) again. Buying around this support can be a good strategy, with a modest target of 38200, first. If it slows down at that level, that means the head and shoulder pattern is finished on the hourly, so a return to the 36k support is expected as the next move. Or if it keeps pumping then a breakout to the up is...

nagyandrasgall Updated 

Today Bitcoin had a small rally so my previous expectations changed. If the 38500 resistance holds, it can draw an ascending triangle that will end in about 2 days. The end of the triangle meets the long term descending trendline roughly. There a powerful breakout is likely, possibly to the down, but I'm not 100% sure, so I might wait with any trade until the...