This is another one that I feel will recover in the coming days/weeks...
It is likely that the low was hit back 7-Jan... Notice the high volume after this date... Notice the very low volume before this date.
We have bullish divergence with the MACD and RSI, a long-term one, and recently prices trading above EMA10.
Patience is key... That's the theme of this...
The bitcoin seems to be forming a head and shoulders pattern in the 4h chart, while we are in an ascending triangle.
If we break down the support of the triangle, which is also breaking the neckline of the HnS pattern, we would obviously go down to the 22k-20 levels.
the volume btw, is still low, if we get a drop with larger volume than normal, then is is a...
These are the questions that I am now getting very often... If Bitcoin will retrace, how far can it go?
The potential targets we look at are based on the timeframe we are reading...
Even though we have a very strong bearish candle today, with really high volume... It is still very early on this move, here is the daily (D) chart for BTCUSD:...
In the Spirit of 2021 and Bitcoin hitting a new high daily... HIT LIKE before getting started!
Thanks a lot for your support.
We are likely to be witnessing the last monthly bullish candle before Bitcoin starts to retrace... How far up will it go?
Looking at our Fibs. on this chart, based on the monthly timeframe, we have the following resistance levels coming...
Wait... Don't get too comfortable... Remember that one?
Retraces and corrections have been non-existent for Bitcoin... Or better yet, short-lived.
We are seeing strong consolidation take place near resistance.
When prices are going to drop, they drop.
Staying near resistance is a signal of strength.
Based on this chart, BTCUSD 1H, we are likely to see higher...
Today, the weekly RSI for Bitcoin just hit its highest level since December 2017.
Bitcoin's weekly RSI has only been above 88 three additional times in the past.
Back in June 2017, November 2013, and February 2013.
Both times BTC hit this level back in 2017 the RSI dropped followed by a massive growth in the Bitcoin price.
Looking back at 2013, there was...
Bitcoin just hit a new high today at $24722 on BitStamp and other major exchanges.
Its price remain trading above EMA10 and all other EMAs.
We have a stable ascending channel in which BTC is trading and all bearish signals that we saw back on Dec. 20-21 have been deleted.
Both the MACD and RSI went through a reset and prices continue to aim and climb higher.
2020 has been a good year for BTC, as it broke above the all time high. The 2021 is going to be a price discovery year. Using time cycles we can expect BTC to print some good numbers after getting overbought.
Bitcoin, BTCUSD, on the weekly timeframe continues to aim higher... Let's have a closer look at the RSI, multiple milestones have been hit this week... Let's get into it.
BTCUSD (W) RSI:
Here we can notice that the RSI hit above 80 for the first time since December 2017 when Bitcoin hit it's All-Time High (ATH).
And we have a bearish Bitcoin meaning...
We also have a bearish Ethereum.
Right now ETHUSD is moving below EMA10 after a strong bearish candle 31-Aug. very similar to BTCUSD.
This weeks candle is still active and the week young... So this chart can easily change.
Confirmation only happens after candle closure; end of the week.
If ETHUSD closes below EMA10...
My beloved cryptocurrency enthusiast, supporters, and successful traders... Here we have the Bitcoin Weekly chart.
We looked at the 4H + Daily (D) timeframes earlier, shared below, and we saw the bears moving in and pushing prices lower...
We read the charts perfectly and we hit our targets.
Now, we know that each timeframe is unique and provides us with...
It's been a while since I shared some numbers for Bitcoin (BTCUSD).
We have a trade active now on 10X lev. and I would like to share our targets with you for learning and/or entertainment purposes...
Here they are:
-> We opened a SHORT Friday with a buy price of around $11110 - $10850.
-> We are using 10X....
We have Bitcoin (BTCUSD | 4H) facing resistance at MA200, the black line on the chart.
A strong drop followed after BTCUSD closed below MA200 back on 2-Sept.
Prices dropped from ~$11600 all the way to $9800+.
Today we have a rejection at MA200 on the 4H chart...
We have a bearish cross on the MACD.
Bearish divergence between BTCUSD and the MACD.