If you read my recent analysis and forecast: you probably asked yourself whether there was anything like that in the history of Bitcoin. The story is often repeated, but each time with some differences, but the model remains the same. If you look at the price chart in July 2018, you can see a similar model, if compared with today, now we are at about the...
1. What is the trend now?
2. Why did the decline stop and soar?
3. The price will rise or fall, which option is the most viable?
Now I will answer all the questions in order.
1. Now the price is inside the downward channel, the daily trend is still downward, and only consolidation above 11000 can change the trend. On the weekly chart, the price received support...
The uptrend ended, having formed a double top reversal pattern, the price broke through the lower border of the upward channel. Support at the level of 7800 made it possible to rise higher, but failed to overcome the level of 8000, this indicates a reversal of the model, the formation of the second wave of a downtrend is probably going on. To confirm this...
The price flew out of the downward channel with a huge gap, after which a long set of positions began, all this indicates that the major player received the news and bought 23 million shares in the market and gets gradually, as soon as the offer runs out he continues to buy at a higher price.
The price has formed a classic five-wave structure, at the moment the fifth wave of a downtrend is being formed, the target is at 49, if the daily candle is falling, this will give a good signal to open a short position.
The price has broken through the lower border of the rising channel, there is divergence, there is a sell signal, the price is below the moving average, the target for the fall is 1572
The price has broken through the lower border of the rising channel, dropped below the moving average, divergence is also observed, we need to wait for sell signals. The first target of the movement is 157, at the level of 160 a strong support level, but if stop orders work under it, the price can quickly reach the second target level of 125.
The bitcoin uptrend has ended, the price has left the channel, there is demand at the level of 9000, the price has already bounced three times, but each time it is lower and lower, demand has almost dried up and supply is growing. You need to wait for signals to open short positions, a breakdown of level 9000 will trigger stop orders, which will strengthen the...
