Technical Analysis in Bitcoin. Elliot Wave, technical patterns and volume profile analysis used.
Let's see the bigger picture first:
Bitcoin (BTC/USD) daily chart bar
Key levels and bear trend channel still being respected from prior analysis
Clearly on the upper bounds of the bear channel. After breakout, Bitcoin will have several % to move without major resistances.
Also check out the accumulation pattern in volume.
Short term analysis in BTC/USD
Bear target has been reached and now is headed to the bull target of the prior analysis. Price is still bounded.
There is a potential bullish pattern being confirmed. Check out the bull flag. They are continuation patterns of the prior bullish move.
@luiggih if it really happens hopefully may god bless you
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Sorry, but I get an error every time I try to upvote. I love the quality of your technical analysis with all the labeling, of volume accumulation pattern, key levels and note on no big news... I keep hoping you get more traction from followers because of the high quality posts.
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On your chart I see 2 previous bullish flags which unfortunately failed to work out. Ellitoe count does shows one more leg up to 6.5-.6.6k area. But it can also end at 6.4 and go down again. Let see how btc materialize it self.
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Well we could not have asked for more perfect timing for your call. It nailed the $6653 target. Now we need to see if there is enough energy built up for the $7035 next resistance level.
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Apparently bitcoin is looking bullish at least in the very short term! Great news my friend!
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hey i gave you an upvote dont forget to follow me for future upvotes & i always follow back
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