Remember the bounce I mentioned in my last article?
"As soon as this bounce is done... You can expect Bitcoin to drop some more."
Right now we have a lower-high (bounce) on the daily timeframe which supports the bearish view.
We have the trading volume going lower and the indicators starting to turn.
Prices are still trading above EMA10, but the lower high and...
We are of the same view here with Bitcoin (XBTUSD) printing a lower high and now closing below EMA10... Prices can drop lower.
The immediate support is sitting at $9333 or EMA50, this is the next level to look at if Bitcoin moves lower.
Followed by $9174 or MA200.
Additional support levels are marked with blue dashed lines.
The immediate resistance is now at...
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So, what is going to happen next with Bitcoin (XBTUSD)?
Now I share analysis of the EMAs that I learned through experience... Here is the sequence:
1) XBTUSD (Bitcoin) breaks below EMA50 on the 9-May, by the 13-May XBTUSD is back above EMA50.
In this case, EMA200 was hit (brown...
Bitcoin (BTCUSD) peaked at $10,074 on the 7-May and prices are now trading near the $9000-$9300 price range.
Bitcoin is no longer trading near resistance, now it is going towards support.
I saw some signals out of the charts and technicals that are really strong and pointing to a drop.
Mondays can be bloody for Bitcoin so please be cautious.
Tomorrow the weekly candle closes for Bitcoin (BTCUSD)... It all depends on this.
Notice the orange dotted and full trendlines on the chart above, then notice the current active candle...
A strong close this week above orange line can send Bitcoin flying up... But a weak close below the orange dotted line can send Bitcoin lower looking for support.
Holo (HOTBTC) just moved out of a low volume All-Time Low...
This can be the first signal on an upcoming change of trend.
We are looking at the 2D (2 days) chart here, the signals are stronger than the classic daily (D) chart we normally use.
Prices can easily start to move up, especially when you take into consideration the strong bullish sentiment that is...
Bitcoin (BTCUSD) woke up bullish Wednesday and prices are starting to move up, this opens us up for a few questions like...
But, what happens next with Bitcoin?
We continue expecting a drop or we will now go bullish?
Where is my stop-loss?
1) We are still looking at a lower high based on the candles wick but we have a higher high based on candle close... This...
We are already active with Theta Token (THETABTC), I shared multiple charts and trades here for you throughout the months...
Now, we've entered the bullish phase, how much farther up can it go?
Honestly, I don't know...
But I can do some maths, some thinking and come up with some potential targets based on my experience with past history and past results.
What is happening with Bitcoin (BTCUSD) now?
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Looking at all the charts here on Trading View, we can easily say that we are having some really mixed feelings... Will prices go up or down?
What about the chart signals, what are they saying?
We have mixed signals because of how we read charts.
Some signals are stronger...
Here we are SHORT now with XBTUSD (Bitcoin) and we are going on 8X... Let's have a quick description of the above setup.
1) First, we have the higher low which we mentioned in previous articles.
2) Prices are now trading below EMA10 and we have decreasing trading volume, going lower and lower.
3) A recent rejection of prices while they tried to move and close...
Here I've mapped the Bitcoin (XBTUSD) chart for you.
First, notice the trendlines...
We have a lower high.
EMA10 being challenged as support.
Indicators trending down.
This setup can easily lead to lower prices.
Make sure to have a plan if you decide to trade.
This is not financial advice.
We can see Bitcoin (BTCUSD) breaking below EMA50 for the first time since April but the volume is much higher now than back then... Bear volume/RED.
We can also notice a bearish cross of EMA10 and EMA50, signaling more low.
After EMA200 was tested (brown line), a bounce is normal and expected.
As soon as this bounce is done... You can expect Bitcoin to drop some...
The same chart we draw recently is still valid and fully playing out... Ankr Network will jump.
Here we have the chart for ANKRBTC with massive bullishness taking form.
First we have a break of all minor EMAs (EMA10/50/100).
MA200 is being challenged as well.
Trading volume is going up (high volume).
The MACD is showing a bullish cross.
The RSI is really...
Bitcoin (BTCUSD) continues to print lower highs with indicators (RSI and MACD) going bearish.
Now that prices are once more going below EMA10 after a lower high, we are likely to test the next support... Meaning, EMA50 will break, and EMA100 at $8110 will be tested.
If prices bounce, the orange trendline needs to be conquered first before additional up.
Recently we looked at Bitcoin ( XBTUSD ) short-term on the 1H timeframe, the chart was looking bearish.
Here we have BTCUSD on the 4H timeframe and the bearish bias is gaining a bit of momentum now, still developing.
Prices broke below EMA10 with the next target sitting at $8334 or EMA50.
It is still early on this drop and the trading volume is still low but,...
I sent out an early signal about Bitcoin (BTCUSD) dropping... I know it is really early for many people but these are the signals coming from the charts.
I am only reading the chart... The chart can always change and is always changing as each candle closes.
At the time of writing, this is what I am getting from the BTCUSD (Short-term) 1H Timeframe...
Let's take a look at Bitcoin's ( BTCUSD ) peak prices since ATH in December 2017.
First, we have Bitcoin's All-Time High ( ATH ) sitting at $19891.99.
A higher low hit in June 2019 at $13868.44.
Then we have a recent peak in February 2020 at $10522.51.
On the 30th of April, another peak was hit at $9478.66.
We are looking at lower highs.
We have no...