hey guys, bitcoin price charts in small time frames are one of the most tricky things in technical analysis, seriously trust me, ive personally experienced this thing as an elliot wave analyst. but there're some patterns which appears again and again in bitcoin's chart, for example like the upper one.
i've seen this tricky pattern a lot of time in bitcoin...
We've seen Bitcoin (BTCUSD) predictions for the future that range from $100 to $1,120 all the way to $1,000,000 and beyond.
We would like to be more conservative and use some known tools for a long term Bitcoin prediction... Let's take a look...
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We are using...
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...
9100 zone is mother of all resistances ,BTC trend change can happen from there, wait & watch till any 4H candle closes in red from there to prove this analogy ,will be shorting from 9040- 9110 with a stop of 9240 .
that red line is resistance & green line below is support for next week move .
hey guys Bitcoin continues to drop and from charts looks like wave A is forming an ending diagonal formation, which appears in normal zigzag correction, from current position it looks that we're now in wave 5 which could end up around 6900, which i've clearly mentioned in my previous XBTUSD...
hey guys as expected we see a heavy sell off after breaking the 8100 level and close below it, i've said earlier that 8100 was a key level and if we close daily candle below it than we could see a heavy dump in prices and as you see we saw a heavy sell off upto 7500
BTC trading at support , any wick to 7800 is a catch , but a decisive breakdown
(HTF candle close) below 7750 will create PANIC SELLING TILL 72000-7260 , WHICH WILL BE THE FINAL SUPPORT .
HAVE TO WAIT & WATCH ANY BOUNCE OR DIVERGENCE (IF THERE) FROM HERE .
As we can see in 1D chart we are clearly in a Symmetric triangle.
Its target on the upside is 5700 $ (less likely),
and on the downside is 2550$ .
Now , lets us analyse the current situation,
we can see in 4H chart we had a whooping 350$ - 400$ pump
after breaking the falling wedge.
It wants to test the 3800$ resistance (more precisely 3789$)
but the bulls look...