#BTC UPDATE 3 :
In 1W TF Remember properly i discussed this market cycle, According to stan Weinstein Theory that for an actual mark of phase first we need a proper capitulation phase we are expecting further capitulation phase or range bound mark of phase and then actually move makes a lot of sence.
Ichimoku Trade Suggestion
What Ichimoku Says?
1) Positive Cross Over: Conversion Line Crossed above Base Line at below cloud zone (Bullish Sign)
2) Positive Coincide: Lagging Span and Price both have coincided (Bullish Sign)
3) Pending Action: Lagging Span and Base Line Cross Over is Pending (Action Pending)
4) Pending Action: Price has to cross...
as u can see btc is trading in rising channel, lower trendline has given strong support. i m expecting btc will rise frm here towards 50k mark. before tht btc must sustain above trendline for 1-2 days.
in worst case if starts dumping below trendline then it will be really disastrous situation ...wait for confirmation on daily timeframe.
as u can see btc successfully made healthy correction towards 0.5% fib ratio area which is 48800$. looks like a retracement has been done of recent rally. btc must go up frm here if there is further drop possibility then it will test 0.618 fib ratio which is at 41587$. after daily strong confirmation we can build long position frm here and target is...
Monthly chart: indicates that there has been a divergence in MACD and we can see the double top formation that was a wholistic overview, but the last three candles indicate that if the price broke below 32917 and closed below this it will complete as an inside bar which is bearish and on the downside
based on the Weekly chart 28850 is the support, whereas if...
On daily timeframe btc again testing major resistance trendline. Previously we can see whenever btc tested this trendline we seen huge pullback.
if btc starts dumping frm here then easily we can see btc testing again 30-32k zone.
BTC will be bullish only after trendline breakout with huge volume.
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As we expect BTC will bounce up to 39500k resistance level.