This is the monthly chart of BTC from the Bitstamp exchange starting from 2013.
Price is still above the 20 month moving average (yellow line)
Long term, BTC is still in a bearish tend with 6 red heikin ashi bars illustrating the downtrend.
Stochastics seem to be leveling off, if so it may not reach the oversold level. <20 You can see that it was hanging around the upper level for 2 full years.
The weekly chart shows the spike low last February and the double bottom last June.
The 20 week MA in yellow has crossed over the 50 week MA in blue which is typically a bearish signal. The 20 week MA may provide some resistance to the upside.
BTC has printed one green heikin ashi bar which is a good start. 2-3 would be a nice signal that it may be heading back up to the top of the trading range.
Stochastics are heading back up from the oversold area. All things green???
The daily chart is from GDAX and has a fibonacci retracement from the July 17 low to the December 17 high. (Blue lines)
The 200 day moving average is the orange line. In a CNBC review the other day, it was mentioned that BTC has only be 30% under the 200 dma 2 other times and has rallied both times. Is the 3rd time a charm?
From coinmarketcap, this is the 1 year BTC dominance chart. ETH is in blue, BCH in green and all of the Alts in silver. It appears that the money is going into BTC at this time.
Google trends for the search for the term Bitcoin. The chart resembles the price indicating that there is more interest when the price is going up. (Sheep will follow the other sheep)
Pretty nice analysis.
I found this image on twitter a couple of days ago. I wonder if this will reproduce when the first Bitcoin ETF launches and a domino effect starts.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Cool chart, pretty similar pattern for sure.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Wait little more if bitcoin stable between 7200-7400 level then alt will boom. If btc crosses 7800 resistance then it would be more better for all.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah, I think most of the seasoned traders will wait for further confirmations in the chart before taking long positions.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Very good post for btc. There are many good information about btc here. Thank you for share with us.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
very helpfully Post For BTC. Thanks
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
You got a 2.81% upvote from @postpromoter courtesy of @glennolua!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit