such big swooping movements across BTC at the moment. even with 7% and 3% gains and loss it is moving 1500 points which is to big for me to be trading wish you all the best
good thourough overviews bro. have a good produtive week
Hi all.
Well, another not so good week for Bitcoin for now but let`s see the bigger picture (in chart 2).
Ascending channel/trend broken (chart1)
Last week I was talking about an ascending channel/trend but at Wednesday it was broken down and now seems like its down line is acting like a resistance for the price. Lets see how it will continue forward.
3 months chart (chart 2)
Now thats may be the more important chart. Like youll see from the chart, every time when we close a 3 month candle above the descending trend line from the last ATH, the run for the next ATH is starting. Well were 32 days away from the close of the actual candle so we can only cross fingers to close it above. Dont know about you but i`ll keep an eye on this chart for sure.
Actual PA situation:
- Support and resistance:
1.1. Support:
1st support - $10500 – last MAJOR resistance.
2nd support - $9000 – also very important due to 3 month chart.
1.2. Resistance:
1st resistance - $12100-12500 – almost the last bigger resistance before the clear skies, accordingly to VPVR. You saw where we stopped this week – exactly at $12500.
2nd resistance - $14000 – the last resistance before the 20K test I can say (the last top + VPVR).
Somewhere between 1st and 2nd resistance is $10K, which can act as a support too cuz of the psychological level. - 10 EMA – the price is still above it even without a touch of it.
- 21 EMA - the price is still above it even without a touch of it.
- Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
- Parabolic SAR – Another bullish week and there
s 18 weeks bullish signaling (despite this weeks red candle for now). - Weekly pivot point is $11828,22.
That`s all for now.
See ya next time.
3 Likes
Bitcoin finding the gains harder each time think we are going to be in for a long ride to see it reach the highs of old.
Thanks again for your analysis! Wishing everyone a good trading week!
excellent stuff bro
Hi all. A couple of weeks no see from me so here I am back again.
Only a small but urgent chart will be today and in the next couple of days will be something bigger and long term.
Lets get straight to the point with the 1H chart. After some ups, downs and some sideway move the BTC price finally break out upside from the latest symmetrical triangle. First thats bullish and second my target price from this move is around $11350. As SL I think to use $10900 from this perspective but i`ll keep an eye at this chart and can react as fast as it needed.
Nothing much more to say at this point so i`ll see you at the beginning of the next week.
P.S. If you check the chart now you`ll see a very good confirmation of this breakout.
1 Like
Glad I caught this in time, thanks, I’m on it!
Decent movement yesterday for me. Taken profits and ready for another push up
Thanks, have missed your analysis over the last couple of weeks. Hopefully a good week for bitcoin ahead.
Not been a good day for BTC and crypto!
Bitcoin and all cryptos seem to have taken a fall across the board again this week
Hi all. From my last post you can see why I don
t like lower time frames and short term BTC analysis at all. It was a good setup but with BTC anything can happen literally from nowhere so thats why im continuing with long term picture. This time ill show you some history and the only question is “Can this history be repeated again?”. From the chart 1 youll see and interesting pattern which happened before the second and third ATH. Its a descending triangle, some sideway move, then an ascending triangle and then… next ATH. Its happened twice and both times was before the next ATH. Guess what is the chart 2 picturing…? Exactly the same story but its happening now. A descending triangle, some sideway move, then an ascending triangle. What`s missing…? Yep, the next ATH! I want to make only 2 clarifications:
- It
s not 100% sure that the history will repeat but weve already saw it so it`s very likely. - The latest ascending triangle is not so clear but that
s because of the Corona drop and that drop is something really extraordinary and if the Covid crisis didnt happened, we would have a perfect ascending triangle. Thats from a technical perspective for now. Now some side words. Like you already may be saw from my charts, im a BTC bull. Even a moon boy may be. But lets be honest for a short term perspective. Exactly in a short term im expecting some more blood on the markets and I dont mean only for a BTC. Like we saw from the last BTC drop, exactly simultaneously Gold, Silver and Oil also dumped. For me thats a sign of a second Corona dump. It wont be deadly for BTC for sure but it can hurt, so its good all of us to be prepared. Just have this in mind.
The second thing which blew my mind lately is unambiguously. I believe most of you know the story and idea behind the Bitcoin. Also like most of you knows that the real wealthy peoples in the world are small number and they dont like BTC because theyll lose their power and theyll do whats needed to prevent this from happening. One of these peoples are the Rothschild family. Google them if dont know who they are. For sure they dont like BTC but guess what… Their Rothschild Investment Corp is number 15 in the top 20 Institutional Bitcoin Investors list according to not anyone but Forbes. And if that`s not a bullish for BTC…
That’s all for now. See ya next time.
2 Likes
Nice analysis as always. Crazy how these patterns repeat themselves or appear to. Hopefully on the verge of a decent bullish move soon.
Nice post mate thank you
Wow thanks for the history and break down. love seeing it that low and the moves it made. how every one used to say there is no value in BTC and you are wasting your money. if only i had bought a few back then.
cheers for the information and lets hope for the next high
Thanks for the update. You are correct, anything can happen but I’m feeling positive.
Great analysis. I hope you are right, it’s certainly looking promising!
Hi all. I
ll be very short but specific this week. Strange week for Bitcoin and crypto sphere at all. Right? Price swing, Bitmex scandal, Trump with Covid and etc. But you know what? I dont care about all that. All I can see is a bright Bitcoin future cuz of one simple chart. Do you remember my 3 month quarterly BTC chart from the end of August? If you dont you can check it at the left side of the chart below. Like youll see from the chart, every time when we close a 3 month candle above the descending trend line from the last ATH, the run for the next ATH is starting.Now look at the right side of the chart below and what are you seeing…? Yep, it
s true, a 3 month candle already closed above the descending trend line from the last ATH. So maybe weve already started the next ATH run. Only the time will show am I right or not.That`s all for now.
See ya next time.
1 Like
Let’s hope so. It’s certainly been an eventful week.