HTF showing support on RSI & price action , stochrsi , bottomed out , ripe for a bounce . positional call for 2-3 months , expecting bounce to $17000 .
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...
I think we are going to form this type of triangle and then 50% drop breaking 200 week moving average,and trend line.. panic selling will happen in Q4 or 2020 Q1 and that will be final bottom.
Comment your prediction.
Hello everyone this is my first post on Trading view hope this will work.
We can see Inverse H&S Chart in BTC but this chart is incomplete if it will complete with breakout we can see BTC on $5500
use stop loss on $3550 If the bears plunge below $3,550,we can see a fall to $3236.
Thanks For Watching
This is an update to recent BTC analysis.
At 4-hour timeframe we can see that the price went out of the local descending channel via impulse growth waves. Subsequent corrective Elliott ABC movements brought the price at the upper edge of the channel.
If we take a closer look it can be seen that there are several positive signs:
1. Stoch RSI moves to Oversold...
Bitcoin is going through massive pain areas as compared to the other cryptos, as it has been affected the most in this bearish time frame. We have given here the technical analysis for the long-term scenario and short-term scenario, with all of its possibilities. The price is volatile enough to move in any direction- up, down or sideways.
Bitcoin USD Live chart...
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