Bitcoin (BTC) analysis thread

Certainly looks positive from the weekend. Hopefully it continues as per your analysis

i think 12k may be approaching./

Hi all.
I`m very tired after this week so i`ll be very short but specific this time.
I`m switching to 1D chart this week and there`s an awesome ascending triangle. It`s almost the same in the 4H chart. The breaking of this triangle is imminent. No matter which plan will be fulfilled (A or B) there`s almost clear skies above the $12100-12500 level. I personally think that plan B will be fulfilled and this will happen at the end of this month or at the beginning of September lately (almost at the edge of this ascending triangle). The other needed rule to be this move not speculative is to see a significant volume when this happen. Even if there`s a breaking below this triangle (possible plan C), we`re fine till $10500 and the bull run can continue after this dip to $10500.
More of the actual PA below.

Actual PA situation:
1. Support and resistance:
1.1. Support:
1st support - $10500 – last MAJOR resistance. This support has been tested already with this night drop and done it`s job perfectly. That`s why I’m bullish about this drop.
2nd support - $9000
1.2. Resistance:
1st resistance - $12100-12500 – almost the last bigger resistance before the clear skies, accordingly to VPVR.
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.
2. 10 EMA – the price is still above it even without a touch of it.
3. 21 EMA - the price is still above it even without a touch of it.
4. 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.
5. Parabolic SAR – Another bullish week and there`s 16 weeks bullish signaling.
6. Weekly pivot point is $11512.10.

That`s all for now.
See ya next time.

Still pushing for 12k so hopewfully we see it test that resistance in the week.

sebking1986 posted:
Still pushing for 12k so hopefully we Bsee it test that resistance in the week.

Broken and on the move up already making strong gains and at key levels lets just hope we can hold them

Hi all.
Well, Bitcoin dropped 3% from the last week and around 7% from it`s high at the beginning of this one. Is it so bad? I don`t think so! Why? I`ll show you below so don`t freak out but zoom out.

Last week daily chart VS this week possible re-charting (chart1)
Last week I was talking about an ascending triangle and 2 (or even 3) possible scenarios. At the beginning of this week all seems like scenario A is in play until the decline that came from nowhere. My personal opinion is that both the peak to $12500 and the drop to $11400 are just a fake moves if we`re looking at this ascending triangle chart. That`s why i`ve tried to ignore it and search for another pattern and almost immediately I saw the ascending channel (trend). A perfect one. Which pattern from this 2 you`ll use is your decision but at this moment i`m 70:30 to the ascending channel (trend).

Weekly chart (chart 2)
Here are 2 things to say. The 1st one is that this chart was initially made at 28.06.2020. Look at the green arrows which are pointing the possible price move. Even I was surprised how accurate are they till now. The most important thing here is the newly added fibo retracement from the last summer 14K top to the corona drop to 3.8K this year. What can we see? A beautiful fibo golden pocket between 10K and 10.5K. This 10.5K sounds familiar right? So what`s the conclusion here? That`s even if we fall far below this ascending triangle or if we fall below this ascending channel, then we have a REALLY STRONG support at 10.5K and even a bit below this (around 10K).

Actual PA situation:

Support and resistance:
Support:
1st support - $10500 – last MAJOR resistance.
2nd support - $9000
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 17 weeks bullish signaling (despite this week`s red candle for now).
Weekly pivot point is $11708,01.

That`s all for now and like i`ve said it before – these corrections are healthier than you think.
See ya next time.

The bulls took the weekend off… Hopefully getting some rest for the next one!

Literally bounced off the resistance to the pip. Still holding nicely so be good to see another run at it this week.

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

momo3HC posted:




Hi all.
Well, Bitcoin dropped 3% from the last week and around 7% from it`s high at the beginning of this one. Is it so bad? I don`t think so! Why? I`ll show you below so don`t freak out but zoom out.

Last week daily chart VS this week possible re-charting (chart1)
Last week I was talking about an ascending triangle and 2 (or even 3) possible scenarios. At the beginning of this week all seems like scenario A is in play until the decline that came from nowhere. My personal opinion is that both the peak to $12500 and the drop to $11400 are just a fake moves if we`re looking at this ascending triangle chart. That`s why i`ve tried to ignore it and search for another pattern and almost immediately I saw the ascending channel (trend). A perfect one. Which pattern from this 2 you`ll use is your decision but at this moment i`m 70:30 to the ascending channel (trend).

Weekly chart (chart 2)
Here are 2 things to say. The 1st one is that this chart was initially made at 28.06.2020. Look at the green arrows which are pointing the possible price move. Even I was surprised how accurate are they till now. The most important thing here is the newly added fibo retracement from the last summer 14K top to the corona drop to 3.8K this year. What can we see? A beautiful fibo golden pocket between 10K and 10.5K. This 10.5K sounds familiar right? So what`s the conclusion here? That`s even if we fall far below this ascending triangle or if we fall below this ascending channel, then we have a REALLY STRONG support at 10.5K and even a bit below this (around 10K).

Actual PA situation:

Support and resistance:
Support:
1st support - $10500 – last MAJOR resistance.
2nd support - $9000
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 17 weeks bullish signaling (despite this week`s red candle for now).
Weekly pivot point is $11708,01.

That`s all for now and like i`ve said it before – these corrections are healthier than you think.
See ya next time.

excellent stuff bro, appreciate your positivity in your analysis. good day sir

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 it`s down line is acting like a resistance for the price. Let`s see how it will continue forward.

3 months chart (chart 2)
Now that`s may be the more important chart. Like you`ll 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 we`re 32 days away from the close of the actual candle so we can only cross fingers to close it above. Don`t know about you but i`ll keep an eye on this chart for sure.

Actual PA situation:

Support and resistance:
Support:
1st support - $10500 – last MAJOR resistance.
2nd support - $9000 – also very important due to 3 month chart.
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 week`s red candle for now).
Weekly pivot point is $11828,22.

That`s all for now.
See ya next time.

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.

Hey let`s refresh this thread. Any new visions?

BTC has broken out to the upside for the time being. So positive!

I think that April is going to be a good month for bitcoin.

BTC seems to be very bullish again. The price made a bullish breakout at a significant horizontal level. The level may work as a flipped level of support. I am going to wait for the price to produce a bullish reversal candle around 45.300 to go long in BTC.

Very good analysis, I will continue to follow.

Small dip today but great to see how far its pushing up!

Hi all.
Long time no see but there’s plenty of reasons for this. First of all there’s no major change in my TA view because I’m looking only in long term BTC perspectives. Secondly I’m really busy. But… these days I’m setting some new hardware, getting it ready for work and while I was looking at the newly added funtionality at TradingView I’ve found something really interesting which I can`t miss to share with you.
Just look at the chart below. It`s a 1D BTC chart with a perfect Elliott Wave (EW) price action. If you don’t know what Elliott Wave is you can see it here -> https://www.liberatedstocktrader.com/elliott-wave-theory-principle-examples-stock-market/. In short - Bitcoin is not in a bear market, neither we saw it`s top for this cycle yet.
The future projection (the blue line) is purely indicative. It’s based on the previous EW cycle which is good starting point for the next one and may be the next ATH.
That’s it for now. Think good about it. Soon I’ll try to look more deeper into charts to see what we can find more there to see more clearly the BTC presumable future moves.