Right now, everybody is watching those two trendlines. A decision will be made soon, because the apex (where the trendlines cross) is only 4 days away.
But don't jump to conclusions right away, if any of those trendlines is breached. It could be a fake breakout.
What we need is a significant breach, then a backtest of the trendline and after that the trend needs to be able to continue in the direction of the breakout.
This could be quite boring for another week or two. But this calm will not last forever...
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DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
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Have a nice day :-)
I love your analysis. Thanks for providing them to us.
Have you seen that you are on my daily expert summary post? Let me know if I catch your thoughts wrong any time.
I did not notice yet. I will take a look at it. Thanks for your support and feedback ;-)
What price do you think btc could fall or climb to in February?
Thanks for providing us with the information.
I would love to be able read the charts like this and predict the next movement of the asset, unfortunately I can't.
Bitcoin market seem to be bit deceptive these days forming lot of bulltrap. In the last week or so, bitcoin has shown signs of some bullish movement only to fall even more. Right now there's complete silence in the market. I hope this is a sign of huge upward jump. Hopefully this time around, it will have strong bull trend and go back to where it was a month back.
I have heard, that bitcoin obeys more fundamental analysis than technical analysis, I am not really sue about this though. My feeling is that the market will be prone to small drops or the price will be going on a sideward trend till the end of the Chinese New Year and we could see a bull movement after the mid of February.
So, how soon do you think will Bitcoin go back to $20k and what is your year end prediction?
Thanks
I don't have a fixed opinion, but I think another low is needed to clear the market of the weak hands. Imagine buying at 19000 and being sad to sell @ 6000, just before the market turns bullish again...
THIS IS TOTALLY IN THE CARDS !!!! I would be HONORED to buy a noobs BTC that they paid $18,000 for for only $6000!!!! LOL If newbies and wallstreet think its easy .................THINK AGAIN.........you say another week or two great two more weeks of vacation!!!!!!! I mean honey do list
What I see is a symmetrical triangle as a continuation pattern. Go bears!
It's an indecisive triangle and can go either way, but I am favoring the drop as well ;-)
keep us posted on the bitcoin trend, we are watching the price
what you think about this trend? https://steemit.com/bitcoin/@investingtips/this-is-the-real-bubble-not-cryptocurrency
Nice post @ew-and-patterns
Thank for sharing information..
Please upvote my post...
WOOOOOOOOOOOOOW THAT IT´S WONDERFUL... THANK!!! GREAT!
This is very informative blog.Thank you for such a info
Upvote and resteem done
Ok... I have to post post my language yeah... You a have help me... 😀😀😀😀😀😀
Thanks nice. LOOK MY BLOG AND FOLLOW CRYPTONEWS 24/7
Yet another great post, thanks for sharing, keep up the great work ;-)
This kind of reminds me of the correction NEO had after its first bull run. It's been kind of a deja vu for me throughout the whole correction. For the time being I'm on HODL mood.
CME bitcoin futures termination of trading happens Friday (last of the month) at 4pm London time.
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We’ve got about 24 hours. The previous CBOE expiration was preceded by a massive selloff right up to the end (mid-january)
This can lead into a sell off into the crypto markets and Bitcoin, this will be a nice buy oportunity, from 8500 USD to 10500 is a good entry point for a midle or a short term trade
Cheers. I am on phone and can’t see # to watch. Can someone post? Also love to hear feedback at what prices people have set up or will setup ladders. I’m thinking my 8k and lower ladders will not be breached. Thoughts
I think this charts needs another low. If so, my minimum target is 7500 (62% retrace), so it would be filled.
Thank you