The way is up! No bearish signals so far.BTC/EUR looks bullish. Nice cloud forming as we speak and BTC found its support besides the great growth today. I expect BTC to hit 58K USD very soon and will analyze the next support line then.
BTCEUR trade ideas
Bitcoin in lower end of bandwith, testing now!Bitcoin is approaching the lower end of the bandwith and we will soon see whether it will head bullish or bearish. Bearish would mean a possible big correction, bullish means we are ready to test the 58K level.
Looking strong, but....Hello and good morning, wonderful person!
I have something to admit, and that is that I had a trend line on my previous chart that was wrong.
Wrong in the sense that it was mis-copied from my chart that I normally work and trade from.
I have added the correct one now, that matches 100% the one I am using on my other charts, and deeply sorry for that.
Changes:
- Corrected the trendline
- Added new resistant line based from fib and retesting from price actions.
- Removed clutter and old lines.
Small summary:
- Regardless of any indicator, news and rest of the market in finance are still in large affect, so stay updated with real-news
- Price have break the old trend line that I added, which is previous bull run trend line.
- The new upper resistant has been tested and is strong. Expect a rejection on first attempt
- If rejected, most likely hit back to the trendline in gold. (the one I corrected), and follow upwards to resistant line again.
- ALT-coins have shown a tremendous strength and proven it is ALT-season (NFT & De-Fi), but this might might change when BTC get really strong momentum.
Be safe out there and happy trading, and dont forget to do your own due diligence before trading.
Because, non of what I am writing are financial advice, just how I view the market and trends.
Inverse head & shoulder for bitcoin. I was right.If we break the green line to the upside bitcoin can go to 49700
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BTCEUR to outperform BTCUSDMy exchange allows me to trade Bitcoin x5 in USD or Euro's. This chart shows the relationship between BTCEUR divided by BTCUSD to account for the moves in the fiat. My take is that I'm better of longing BTC in Euros for now. The Dollar index is reversing a year long downtrend that may force foreign currency holders to pile into USD to protect their wealth. In the Aughts the Dollar Index went to 120 and in the 80s it was as high as 130. The Euro has show some strength against the Dollar, as the Volatility Stop flipped a couple of times in the last year, but that's damning with faint praise. There is also a possibility that when BTC decides to S the bed it will do so more violently in USD, making the Euro denomination easier to trade.
Is this the beginning of new Bull-rush?Hello wonderful person!
I have left the previous chart more or less untouched, just moved the boxes in order to see the chart better.
Also just added a new text box along with a possible new trend line.
Stay safe out there and happy trading, and do not overextend your positions.
Bounce or crashAt 40800 - 40500 we either get a bounce and that be last time we will see this low prices or it crashes down.
If it dips under it we can expect a crashing more over several days to hit its correction.
Inverse head & shoulder and uptrend channel for bitcoinIf we break the green line bitcoin can go to 49700.
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Up or down?We hit a ceiling and possibly need another short dip to break through it, however if it doesn't go past it, it could possible go down for a major corrections as we had a quite steep rise. But with possible big news in coming days there is a more bigger change to break through.
BTCEUR - short term prediction - Weekly updateBTC stays bullish and confirm my prediction of last week. We are seeing higher highs and higher lows to signify a growth in the price even if not at the fast pace at which BTC have made us accustomed to in the last months. This almost sideways trading is good to create a strong support level in the range 41 to 43 thousands. the next resistance appear to be around 44/45K but should be easily achievable if the sell off have really stopped as it seems. overall the upward trend is continuing and we will see soon BTC at 50K EUR.
It's possibly we have also a head & shoulder for bitcoinIt's possibly we have also a head & shoulder
We can go to 34800 line.
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Inverse head & shoulder for bitcoinInverse head & shoulder for bitcoin
Maybe we go to 49700 line.
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Limbo action on BTCHello wonderful person!
I have added my thoughts into the chart, hoping this will be quicker to read and understand than a wall of text.
Just some pointers are that the first Fib retracement is added from the very start of this first upward price action (First trend).
The second fib is actually a Fib trend extension that measures from the first correction and up to the top afterwards, and then to the 2nd correction. I will use this one to spot new resistant lines and support, but compare with the first fib retracement.
Stay safe and good luck trading!
Bitcoin still in downtrend channelBitcoin still in downtrend channel
At this moment we have support on the 38836 line.
If we break that line maybe we have support of the 200 MA at 38259 line.
If we break the line we go to the purple support line 37635.
If we break that line we go to 35771 support line.
And if we break that line we go to 33968 line.
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BTC about to cool down? (First analysis - please give feedback)My first trend analysis. It looks like the parabola below was supporting the graph until the roof was hit the second time at all time high. I guess the price could tumble now since the parabola was broken, but I’m not very experienced in 1: creating these support lines and 2: interpreting them.
Please give me some feedback.
Updated prediction after recent correction. BTC still bullish As we see with each drop, some bad news started with Elon Must saying the price of BTC and ETH was too high. On the next day both the BBC and Bill Gates said on separation occasions that they were anti BTC due to environmental issues. Yet more and more banks diving in with now Citi Group suggesting BTC could become the future global currency, with luck we move to the next ATH within the next two weeks.
Bitcoin broke the uptrend channelWe broke the uptrend channel in yellow.
We are now in a downtrend channel.
If we go further down we shall go to 38971
or further down to 35771.
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