theprofitstation

theprofitstation

#BTC UPDATE : In 1D TF according to CPR indicator bitcoin did pretty exactly what i discussed earlier because i was expecting relief rally towards bottom CPR line and after reaching bottom CPR line we we expecting rejection and if we see the price action is doing exactly like my previous update so now it is considered as very bearish scenario why because getting...

theprofitstation

#BTC UPDATE 2 : In 1H TF smaller time frame forming ascending right angled broadening formation with head and shoulder pattern so please guys please be careful right now only support is around 20900 to 21000 breaking that means the price is ready for lower target.

theprofitstation

#BTC UPDATE 5 : In 1D TF Today appeared the most reliable indicator buy signal Hash Ribbons. This indicator is based on hashrate moving averages and has a 100% accuracy. To be honest this signal looks quite odd at this kind of market, however, it really reminds me of January 2019 buy signal. I even compared the charts, they look similar. Of course it doesn't mean...

theprofitstation

#BTC UPDATE 4 : In 1M TF in worst case scenario this is clear double top formation and according to this first Target is 19500 and this is exactly where we acame and found support so now you can see in previous updates we found out there is a very high probability to testing the lower line area below 20000 and if that is going to happen then we have to be very...

theprofitstation

#BTC UPDATE 2 : In 1D TF already awared about CPR indicator. Unfortunately CPR lines was not able to find support at any of the CPR line which is clear sign of weekness but now has clearly broken the support from top, central and bootom CPR line now we are between bottom CPR line and monthly S1 line so according to this CPR indicator bootom CPR line is going to...

theprofitstation

#BTC UPDATE 1 : In 1D TF already awared this dad cat bounce scenario, According to rising wedge target is 19800 to 20000 if you look Fibonacci lines very very clear the price of Bitcoin rejected at 50% retracement as shown in example since then we are clearly heading downside why because look at point 4 usually indicates now the price is going to follow original...

theprofitstation

#BTC UPDATE : In 1D TF ascending broadening wedge upper line rejected couple of times today i add all support lines as we already discussed earlier in Upper Updates 1) rising wedge scenario : we have to break from this wedge because we know support from rising wedge still around 23600 area and even if this is going to be broken then next important support is 2)...

theprofitstation

#BTC UPDATE 1 : According to this wyckoff market cycle the price of bitcoin not looking good if lower horizontal support could broken we could slowly starting the downtrend and as shown in example after forming accumulation phase we are going to start new phase for bitcoin so this horizontal support line is very very important support line for us.

theprofitstation

#BTC UPDATE 2 : According to this falling wedge again rejected from upper resistance,if Bitcoin does somehow manage to flip this resistance into support than i am actually expecting some sort of relief rally to happen in price action on Bitcoin.

theprofitstation

monitor this price range each and every time the price of bitcoin has tried to break out of the previous support line the previous support line has always rejected the price and after that we have seen a price reiteration what I mean by that the line which previously acted at the support acted at the resistance and after that we saw this bigger price retracement...