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. Bitcoin is open-source; its design is public, nobody owns or controls this cryptocurrency and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
With this in mind, from the technical point of view, this pair should be sell on wave 5 with target around wave c. Said that, we remind you that we do not trade crypto currencies, but only release our technical analyzes. If you think this analysis can be Without a doubt, we are witnessing history. What Bitcoin has achieved and done is something that the financial markets have never seen before.
There's very limited amount of BTC, and it is decentralized! We're currently going through a phase where the market is trying to determine the value of Bitcoin. The technology behind Bitcoin, blockchain is revolutionary and No stops we hit on longs and after problems gettting long here on Thursday and staying with it before stops got hit.
Friday was kinder, steadier. We are many hundreds of points to the good here and need to protect profits now See those 3 fantastic continuation When we are at all time highs and profits have been taken its difficult to know if we are going to keep going higher or if we will retrace. Well here is my strategy; the first port of call is to look at he signals which have been the strongest in defining the previous breakouts that got us to where we are now.
The cloud is a great place to start for this and one What an epic bullrun in ! I wanted to zoom out a bit cause it's easy be seized by price ticker nowadays. Opened some weekly chart I tried to update my Elliott Waves counting. Third impulse wave could be over some days ago, around dollars. If that's the case: Then would come the end of the Just some basic comparison. We've had a stellar year of gains. I don't think a full bear market is coming, but I keep thinking this needs to cool off a while.
Just my two satoshis. But what will happen next? With bitcoin, this happened few times in the past and everyone was always unsure: My teacher told me that FIBs always knew the true Let's checked So the basic: Each growth going to high FIB level: Look at the MACD, each time it cross over, it is a signal to sell Now it has breach the black ascending channel, we shall wait for it to fall back. This correction is turning out to be quite complex. Prior targets remain achivable and potential lower lows are coming.
RSI is looking bearish, last pump has had no volume at all and bearish konkorde's cross is very relevant. Strong hands had taken their positions already and the dump is gonna become a reality now. Last drop is in all media and as expected, As long as the old trend line holds, we are on a parabolic run in Bitcoin.
Will update when new trend line might be in play. My best guess is that we see 12K and then a correction down in the orange zone around low 10K possibly 9. In this scenario the parabolic movement stays intact and continues upwards with an even steeper trend.
Of course this pattern is only confirmed if: Handle breaks downward channel upward 2. Breakthrough through the resistance of the cup and the handle in orange. After Breakout price may retest this resistance in orange. My pessimism is not over yet! Incoming Bermuda triangle of death incoming. PM me for exact entry, exit more analysis.
Like, comment and follow! Honestly, we expected to see these levels during the first half of , so this cycle is closing early. Show More Ideas 1 2 3 4 5 From the creators of MultiCharts. Select market data provided by ICE Data services.More...