BTC started recovering in the middle of April and now is crawling up day by day. The price touched $10 000 level and went back. We analyzed the situation and found that there were such situations in various time frames in the past. There are multiple Gartley butterfly patterns that are followed by a decrease when price during consolidation breaks through Ichimoku cloud down. This was repeated twice: the price goes down and forms small double bottoms then recovers back and forming another Gartley butterfly, consolidation before forming second "wing" breaks Ichimoku cloud and people sell BTC making a significant fall.
As we can see the price went above Ichimoku cloud and touched Fib 0.618 resistance level then it went down. Everything looks like the pattern should repeat, however this time news background and higher trader confidence may affect the price behavior.
There are 2 possible scenarios:
1. There will be the third Gartley butterfly pattern and further decrease to $8 000 zone if the price goes below Ichimoku cloud.
2. If support of Ichimoku cloud around $9 000 holds there will be a bounce and bullish breakthrough to a higher level of trades
There is no clear strategy whether to short BTC or go long right now. We should wait till the price bounces from Ichi support or breaks through it.
BTC dominance is still very low it is 36.91% so it is better to trade alts now. However there was a period of significant growth so it should be followed by a correction right now.
We recommend to wait and buy cheap alts, so when the market will recover again we all will have an excellent profit. All decent coins that should be bought at dip will be posted in the Premium channel only.
As we can see the price went above Ichimoku cloud and touched Fib 0.618 resistance level then it went down. Everything looks like the pattern should repeat, however this time news background and higher trader confidence may affect the price behavior.
There are 2 possible scenarios:
1. There will be the third Gartley butterfly pattern and further decrease to $8 000 zone if the price goes below Ichimoku cloud.
2. If support of Ichimoku cloud around $9 000 holds there will be a bounce and bullish breakthrough to a higher level of trades
There is no clear strategy whether to short BTC or go long right now. We should wait till the price bounces from Ichi support or breaks through it.
BTC dominance is still very low it is 36.91% so it is better to trade alts now. However there was a period of significant growth so it should be followed by a correction right now.
We recommend to wait and buy cheap alts, so when the market will recover again we all will have an excellent profit. All decent coins that should be bought at dip will be posted in the Premium channel only.
Сделка активна:
The price follows the 1st scenario. The third Gartley butterfly pattern is being constructed. Currently the left wing is forming. If everything remains unchanged and psychological support of $8 000 level doesn't hold BTC will hit Fib 0.786 support level around $7 400 where should be bounce back. We recommend to short a part of BTC and wait a bit to rebuy it before a bounce.
Сделка активна:
BTC Continues the phase of accumulation, on large timeframes you can still see bearish signals. There was a decline to $8 200 level but a quick bounce back demonstrated strength of mentioned in the previous analysis support. Technical indicators are bearish: ADX has weak market amplitude, Stoch RSI is in overbought state, MACD confirms bearish mood, if it does not manage to rise higher in the next few days, then a further decline like in our 1st scenario is more likely for BTC.
Сделка активна:
#analysis
#BTC
There is global FUD in the market caused by BTC fluctuations. Alts are in side trend so does Bitcoin on the short and mid term timeframes. The price constantly touches Ichi clouds resistance on the 1-hour chart and approaches to the lower edge on the 1-day chart. Apart from situation on the chart there should be a bounce from $8050-8100 level to the next resistance level around $8900
However indicators are very bearish and the price can break support and decrease to the $7500-7800 level. The recent signals are still active, coins are in side trend but will go up when there will be good news about BTC
#BTC
There is global FUD in the market caused by BTC fluctuations. Alts are in side trend so does Bitcoin on the short and mid term timeframes. The price constantly touches Ichi clouds resistance on the 1-hour chart and approaches to the lower edge on the 1-day chart. Apart from situation on the chart there should be a bounce from $8050-8100 level to the next resistance level around $8900
However indicators are very bearish and the price can break support and decrease to the $7500-7800 level. The recent signals are still active, coins are in side trend but will go up when there will be good news about BTC
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BTC needs a second wave of social media FOMO to start sky rocketing. You may wish it happens but we don't as it will ruin the market when growth wave ends. Bitcoin heads to its original price like a normal asset and will increase its value gradually. In the long term it should exceed 25k, the time frame is the end of this year. It is a normal situation the market still stabilizes after a FOMO shock which happened in the end of 2017