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The price is close to the 4H MA50 and so far it has held three times on respective Higher Lows attempts. This is causing BTC to consolidate within a Triangle. Triangle's are common within the dominant medium-term pattern, which since late October is a Bullish Megaphone and I have analyzed this extensively numerous I'm waiting that price can continue uptrend. We can open long position as soon as BTC will break nearest resistance. Next resistance Videos only. Will History Repeat itself?
Remember you heard it here first! Wyckoff Distribution says Bitcoin will go down,don't get trapped. Breakout Imminent!!! Bitcoin potential breakout from triangle. Update on previous idea. Bitcoin reached nearest resistance Show more ideas. Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of Bitcoins is carried out collectively by the network.
Generally, the situation over the past week has not changed dramatically. Altcoins: Among the leaders of the cryptocurrency market, we Trading suggestion:. There is a possibility of temporary retracement to suggested support lines.
Technical analysis:. Bitcoin continues to stay at its correctional phase. Only in case of formed impulsive movement one will be able to ascertain the fact of its completion. On this stage, the moods of investors are at moderately negative levels, each surge of price causes an instant reaction, which confirms our expectations regarding correctional direction of movement.
Altcoins: The Bitcoin is in the corrective phase to the impulse which was formed from Proceeding from the structure of the corrective movement and investors' sentiment, we can make a suggestion about the development of a price narrowing in the shape of a triangle. An impulse after its formation will confirm our expectations. Altcoins: considered The price, in our opinion, is continuing to stay within the framework of its local stop. The mood of investors regarding the market movement gradually changes towards positive that confirms additionally our expectation about logic of movement.
As the number of taking positive attitude investors increases, the price will approach local peaks and gradually form the Possible price pathways indicated.
Btc usdt will we get the drop to give us the edge with divergence on macd and rsi, targets posted. Btc i think is going down just my opinion to if it does rises target on this chart in blue other chart as the other targets. Btc usdt if this breaks we are going down but we need to fill before going up at this point. My publications do not offer any investment advice and nothing in them should be construed as investment advice.
Please do your research before investing. I do not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of reading any of my publications. With the Viewing of the post, you acknowledge that you use the It looks like he wants to break from the triangle.
Hi traders, Although I personally do not trade Bitcoin but I keep a keen interest and follow the market closeley for my client.
As you can see there are two descending trendline on BTC. Top one is of course the major one and next one also a strong one which is actually a descending trendline within another descending trendline.