Closely watching Bitcoin in 15 Min chart to see how it breaks the pattern bearish or bullish.
My expectation is it will be bullish break out, what are your expectations guys? Comment below.
In 4H chart Bitcoin is following currently a falling wedge pattern.
The yellow line is the major support line, I hope it wont break that and it would retrace and start an uptrend soon. Fingers crossed though!
Reasons for BTC downtrend could be?
1. Chinese NEW Year
2. Facebook banning all the ICOs and Bitcoin ads (Though it wont have larger impact but it is...
COINBASE:BTCUSD
Weekly chart is primed for bullish reversal.
Dragonfly Doji candlestick is a very bullish reversal indicator.
MACD is about to bounce (it tends to never cross down with BTC).
Stochastic RSI is setting up for an upwards crossover.
For better understanding I have marked resistance lines in Blue color while the Support lines in Yellow color.
Currently we need to see how the resistance and support holds
My expectation is if it created double top then it has to break the Support line.
Please find the updated chart analysis of Bitcoin, I am still bearish on bitcoin until the CME futures expiry on 26th Jan.
Lets see how BTC wants to break out bullish or bearish.
But considering the Total Market Cap and Bitcoin dominance I dont see any huge volume for Bitcoin to be bullish.
PS: I am not your financial advisor and these analysis is only for...
Though Bitcoin broke out in 15 Min chart its not a strong break out!
Should wait and see how it behaves, as CME contract expires on 26th many are expecting bitcoin to be bearish.
As per the analysis, Trend is slow but consistent towards up direction. If everything goes right we will be hitting soon 15.5 K boundary around 24th January 2018.
Let see how it goes and how mesmerizing it would be :)
Current @12315
Brief analysis
I see a sharp bounce from 9222. This low was just shy of the Gartley PRZ near 8700. It has been approaching a possible reaction zone near 13000 and strong resistance near 14000. Price action there will reveal the future course of action.
We have strong support at 8700. The traders should turn bearish only below 8700 because then there will be a ...
