1) Bearish divergence developed when BTC was around $61178. The divergence grew when BTC climbed all the way to $62971. To correct this divergence BTC had to correct below $57489.
2) BTC corrected on 18th April to sort out the RSI divergence.
3) It is currently making Lower Highs and Lower Lows (highlighted in the chart) a Bearish sign.
4) A Bullish divergence can...
There's that dynamic trendline -orange in the chart- that can be used as a pretty interesting support level to check here and now.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the...
Would BTC follow the same path like it followed in 2017-18?
whatever may be the condition of market be , but looking at broad picture there's always an opportunity to grow, I would recommend to buy at every dip and enjoy later.
Currently we are in phase 3 as per 2017-18 trend, moving to phase 4!!
lets hope for the best.
In BTC-USD pair we can clearly see the double bottom (W) pattern which is showing bullish sign. Volume is also confirming bullish move.
We can see some choppy move this Sunday because of the weekend.
1 st resistance area is 51367$
2nd resistance zone is 52900$-53600$
In case of any downward move BTC needs to hold support zone at 58355$. Weekly closer below this...
Bitcoin has made its peak at $60000. Will fall down to $38000-$40000 to look for a good support level in that area. Lets see if markets turn around after that, or the bears have arrived.
In 2013-14 we have 2 bull runs.
2012 bull run top to 2013 bull run top - around 1400 % gain
2013 bull run top to 2017 bull run top - around 1400 % gain
if history repeats itself then we can see a price target of 3,00,000$ in the 20121 bull run.
From 2012 bull run top to 2013 bear market bottom - around 2.7x
from 2013 bull run top to 2018 bear market bottom -...
BTC was trading in a triangle pattern for a long which broke on the downside and technically the target is around 35500.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
