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...
As you can see with the help of falling wedge pattern,
we Have Use 1 Week Time frame , where we can see a Perfect falling wedge pattern,
if BTC follow this Pattern we can see some Bullish move in Upcomming 2 to 3 Months
But if BTC Break this Pattern in Downword Direction then we can see Major Dump in BTC.
Note: This is only for Educational...
Traders and some people are still biased bullish after we broke the long term support trend line , the market is trying to say something follow the trend MA's are curling down price is out of the weekly Ichimoku cloud my next confirmation of a longer term bear market will be if we have a monthly MACD cross ,3 day CMF going negative , weekly RSI going below 40 ,...
Looks like bull runs could not continue beyond a few weeks.
200 day Moving Average is a major resistance for BTC. Thus the touched it and came down twice is past month.
Next support is near 7.6k at the bottom of the Ichimoku cloud.
Let's see how it pays in next couple of weeks.
Bitcoin tested 7k level last month around 18th march post which it jumped to 9k level by 23rd march. My initial though was, is bear market over? are we starting with next run?. I was patiently waiting for some of the major resistance to be breached. End of march, bitcoin again tested 6.5k level and has been hovering around 7k since then. This particular junction...
Despite dipping below its 8-months trend line of $7800 and touching a daily low of $7318, Bitcoin managed to recover above its major support area of $8000 due to the recent short covering in today's session. We can see a small falling wedge pattern on the charts today which indicate a short term exhaustive buying in BTC if it sustain above $8200.
Bitcoin is taking...