Hope you don't hate me, after reading my conclusion in this post.
I would like to bring a kind CAUTION to the users across the world with my technical analysis.
I wish this wouldn't happen. But I can't deny the facts that I see in the charts.
What-If Bitcoin falls to $ 200 ??
Do the chart tell us a complete different story that...
. There is a possibility of temporary retracement to suggested support line (9325.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
i can trade 50 time in a day based on these trendlines, PA respecting the trendlines on the chart on small Tf like 1h or 4H , BTC is easily tradeable .
but on higher TF I m not convinced at all of this move until it breaks the resistance with continuity or support with continuity .
but i expect such PA in midweek where trend can be seen in continuity , a long...
bitcoin having all the symtoms of drop on smaller time frame , check 1h , it's making hidden bear div. with stochrsi & on 15 min regular divergence . ..waiting for 9350 atleast ..a sharp move ...capitulation kindda move towards 9350..expected .
i can say these excesses as check dams ...which slows the pace of downfall or upswing .these r bias changers - even for very seasoned traders . but still they act as strong points of reversals . i still belive $btc will go down & stocks will rise from next week -- as charts r saying so ..lets see ..i m a human , so reserved the right to be wrong . so don't blame me.
namaste pattern from $btc , bull case ends ,it's short on rise....till 9200 is reached ...for $alts .... no money is moving in them until$btc stablizes & go sideways . most probably from sunday onwards . so trade safe & trade good .
i will be covering/closing my shorts when any candle touches ... the green trend line , break of upper yellow trendline has confirmed the temporary downfall , will update my view when price touches the green trendline .
needed your likes & re tweets .
if this daily candle closes on "mother of all resistance" or below $9118 , i doubt this rally for reasons:-
1). volume is decreasing
2).daily candle close on resistance or below 9118.
3). if price trend reverses FROM HERE on HTF , it can make bearish divergence on all HTFs .
4). close of daily candle below upper bollinger band on daily chart .
these all r...
The price is in the Liquidation price zone for weeks. We have seen the same structure for bitcoin back in 2012 where it came back to 0.618 fib before it started a bull run. Same could happen this time. Before the bull run, BTC will see its low at 0.618( 5200) then back to 10000 .
By November the price will project to 16000. By February 27000 the same will happen...