Bitcoin posted a strong upside rally and closed the last weekly candle with more than 12% gains. It formed a bullish weekly candle and made a high of $42,605 but in the last two days, traders rushed to book profits at higher levels and closed the week slightly below $40K. AT the time of writing, BTC is trading around $40,090.
On the Daily TF, BTC is now...
$BTC Elliott wave Weekly monthly
$BTC Weekly Monthly chart Forming bullish pennant
HL 5K around or above the below invalid level for HL 3300
and triangle 4th wave consolidation in HTF W M with low volume consolidation abcde or abc flat corrective wave
possible abc flat correction in HTF monthly
weekly 200 ma also 5K level and 0.786 fibs 5.4K...
We now have 6 consecutive green candles on the daily Bitcoin chart. This isn't something we see often.
At this point, many people are already looking for a retrace but here is my theory as to why I think we can go straight up.
First, it is the same signal I mentioned just two days ago with the volume bars.
We are starting to see volume, finally, but it is still...
Following chart is of BTC/USD which shows RSI Divergence Pattern, Buy After it Breaks the @41000 Level, Very Strong Resistance right there.
Also The Targets is huge, so Go Long After Breakout.
Do follow for more trading setups like these
Thanks, if you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
". There is a possibility of temporary retracement to the suggested support line (32877.1).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. BTCUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
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.
If we break this resistance we will be moving up for sure. we gotta have a watch at this level 0.382 breaking this we can hope for a bullish market
There is also a lot of pressure to the downside lets wait for the breakout
Bitcoin has a chance of going to the upper side or the downside. we don't have a clear state now because of the sideway movement of the market.
We can also see a possible triangular pattern which indicates the possibility for a breakout
We expected prices to increase based on some pretty basic signals looking at the 4h timeframe for BTCUSD... This moved took place ( see it here ).
What happens next with Bitcoin?
Let's have a quick look at the daily timeframe but once more keeping it simple... Simple is best.
Bitcoin daily managed to close 'yesterdays' candle (23-June) above EMA10 and EMA21,...
What is an ‘inverted cup and handle’?
An ‘inverted cup and handle’ is a chart pattern that indicates bearish continuation, triggering a sell signal. Think of it as an upside-down cup and handle.
If you look at the regular cup and handle pattern, there is a distinct ‘u’ shape and downward handle, which is followed by a bullish continuation. This means the inverted...