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Bitcoin technical analysis

  • #7,861
  • Nov 19, 2020 4:18pm Nov 19, 2020 4:18pm
Bitcoin went up $59 today but it went as high at $18,184 before going down a little. Will it stay above $18k tomorrow?
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  • #7,862
  • Nov 20, 2020 9:33am Nov 20, 2020 9:33am
Quoting TudorIoan
Bitcoin bubble news, extreme pumping now, woah, woah !! Almost 8000 real dollars in a couple of months ?!? A FAKE ! ALL MANIPULATION !! Where was bitcoin when the c19 crisis started ??? Where was gold ?? Where was SP500 ?? See? Bitcoin is a fake, mimicking the real world dynamics ...pathetic, common bait for dumb wannabes ! Ok, this is how a bubble looks like ...and this is how it ends ! Good luck, thieves...

totally accepted.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #7,863
  • Nov 20, 2020 4:23pm Nov 20, 2020 4:23pm
Quoting sgkrishn
{quote} totally accepted.
As you would say the pump was working good today with Bitcoin gaining $637 and is now closing on $19,000.
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  • #7,864
  • Edited 5:35pm Nov 21, 2020 3:09pm | Edited 5:35pm
Hey guys, I did this chart back in August/September 2019. It was a chart I had forgot about until I saw this recent story from citybank and pulled it back up.

https://www.independent.co.uk/life-s...-b1759127.html

I was looking at the previous two bitcoin cycles of consolidation, bull and bear markets as well as the aproximate time frame of those cycles. I was looking at the potential rise of btc to certain price levels if previous cycles were repeated. Here is the chart below on the W1 time frame in log scale.

consolidation period is from red to yellow plus time taken shown below.

bull run period is from yellow to green, and time taken shown below.

bear market period is shown from green to red, and time taken shown below.

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I analysed the current bull run would start from about May/June 2020 till around October 2021. It was showing a btc price above 300k+ if the previous cycle trajectories are repeated. (something which citybank apparently think too lol).

For those that have missed out on the current run, I would potentially be looking for price to retrace to the 100 MA daily or between the 100/200 MA daily. (I will potentially be looking to ladder buys and add at those levels). The previous cycle shows multiple retraces to those areas as the chart below shows. Obviously this scenario may never play out, so any trade should have an exit plan and never lose more than you can afford.

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  • #7,865
  • Nov 21, 2020 4:20pm Nov 21, 2020 4:20pm
Bitcoin lost $89 today but it's not significant.
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  • #7,866
  • Edited 4:56am Nov 22, 2020 4:06am | Edited 4:56am
Bitcoin BTC BTCUSD Cryptocurrency #Bitcoin $Bitcoin #BTC $BTC #BTCUSD $BTCUSD #cryptocurrency #Crypto #cryptotrading #cryptocurrencies #cryptomonnaie down
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  • #7,867
  • Nov 22, 2020 6:46am Nov 22, 2020 6:46am
2 more pics
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  • #7,868
  • Edited 11:29am Nov 22, 2020 9:04am | Edited 11:29am
Last one
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  • #7,869
  • Nov 22, 2020 4:04pm Nov 22, 2020 4:04pm
Bitcoin went up $66 today so it ended up losing $23 for the weekend.
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  • #7,870
  • Nov 23, 2020 9:07am Nov 23, 2020 9:07am
FPA analysis: "Before first stage of upside rally will be over around 21,070 - we expect tactical retracement to 16.70K area first." Now 18.5K. Lets wait and see

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  • #7,871
  • Nov 23, 2020 12:59pm Nov 23, 2020 12:59pm
Quoting Hutch
{quote} Good analysis but the bearish bat forgot to fly as Bitcoin went up $909 today. Looks like there are serious BTC buyers. {image}
The bitcoin bat is holding ETH become a crab.
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Founder of Sutherland Wave Principle
  • #7,872
  • Nov 23, 2020 4:08pm Nov 23, 2020 4:08pm
Bitcoin went down $141 today so it tallied a lost of $164 in the last 3 days.
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  • #7,873
  • Nov 24, 2020 9:56am Nov 24, 2020 9:56am
Bitcoin BTC BTCUSD Cryptocurrency #Bitcoin $Bitcoin #BTC $BTC #BTCUSD $BTCUSD #cryptocurrency #Crypto #cryptotrading #cryptocurrencies #cryptomonnaie #QChartist
Is it the top?
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  • #7,874
  • Nov 24, 2020 4:29pm Nov 24, 2020 4:29pm
Bitcoin recovered the lost of $164 by going up $612 today. It even reached a high of $19,420 only shy $552 from it all time high of $19,972.
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  • #7,875
  • Nov 24, 2020 7:49pm Nov 24, 2020 7:49pm
Quoting Hutch
Bitcoin recovered the lost of $164 by going up $612 today. It even reached a high of $19,420 only shy $552 from it all time high of $19,972. {image}
easy on h4 few moving averages while you walk your dog - boom and bust cycle.
  • #7,876
  • Nov 24, 2020 8:21pm Nov 24, 2020 8:21pm
Same as eth bitcoin might go into bear crab formation the 161 line is up there in the 30k area I cant scroll my chart to illustrate it.
Bitcoin looks like a dead duck on a bear bat. A push upto 1.618 for a Bear crab formation seems unlikely.. but not impossible. Either way seems like a death sentence for both of them... Euro vs Dollar also just formed a massive ending diagonal triangle. Looks like dollar got a correction to make?
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Founder of Sutherland Wave Principle
  • #7,877
  • Nov 24, 2020 8:30pm Nov 24, 2020 8:30pm
Quoting suthmo
Same as eth bitcoin might go into bear crab formation the 161 line is up there in the 30k area I cant scroll my chart to illustrate it. Bitcoin looks like a dead duck on a bear bat. A push upto 1.618 for a Bear crab formation seems unlikely.. but not impossible. Either way seems like a death sentence for both of them... Euro vs Dollar also just formed a massive ending diagonal triangle. Looks like dollar got a correction to make? {image} {image}
As long follow trends ok, especially the down trend as it will crash. Those guys who only buy and accumulate their little bit coins will get killed
  • #7,878
  • Nov 25, 2020 6:54am Nov 25, 2020 6:54am
Quoting Pip-Miner
{quote} As long follow trends ok, especially the down trend as it will crash. Those guys who only buy and accumulate their little bit coins will get killed
Although I agree with you FPA's latest analysis doesn't.

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  • #7,879
  • Nov 25, 2020 8:04am Nov 25, 2020 8:04am
Quoting Hutch
{quote} Although I agree with you FPA's latest analysis doesn't. https://youtu.be/XKCq73XQssA
Very interesting Hutch. Let’s see if his correct. I’m still long no short trend yet.
  • #7,880
  • Nov 25, 2020 8:29am Nov 25, 2020 8:29am
Bitcoin BTC BTCUSD Cryptocurrency #Bitcoin $Bitcoin #BTC $BTC #BTCUSD $BTCUSD #cryptocurrency #Crypto #cryptotrading #cryptocurrencies #cryptomonnaie #QChartist
Time to sell?
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