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- Автор : Gardalar
- 13.04.2020
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Btc factual analysis
Charts are important. Charts are meant to be useless because the future is not linked to the past. The past is clearly linked to the future as anyone who has worn their shirt for two days knows, but like it or not that connectivity is quite fragile, and you can make the argument that when that connection breaks you will lose all the money you made from when that connectivity was in place. Overall, the random walk view on markets is extremely strong, but there are good profits to be had where it isn't.
In crypto, "the random walk" is not very strong at all. As such, charts are of particular use. So here is an interesting example. People are very good at finding patterns that are not real, but you can clearly see the quarterly-sized action here. This is interesting because we are at the end of the latest small cycle, and to a bear, it says we are soon on the way down.
For me, this would be the last wave down. If you look at the same charts as everyone else and use the same techniques as in the old books, it's likely that won't work. Markets morph to trade away obvious edges. You have to look at things differently in order to see what others don't. I like to look at very long-term charts for that as, in general, most people only care about the recent now. I would not argue against a long campaign of stake building at these levels.
However, I prefer to buy the aftermath rather than enter into a "buy and hold" strategy during a very difficult bear market with a view to ignoring short-term losses for the promise of much higher highs in due course. This article was written by 4. Institutional Press Awards in Clem has a history of calling the markets early. And while the current setup doesn't encompass the same falling bullish flag nor a fully formed cup and handle as last year, it's repeating another one of its popular patterns right now.
A Look At The Pattern The problem with this pattern is while it's traditionally a bearish pattern used to predict a continuation of a downward trend, it can also be a reversal pattern. Therein lies the problem of understanding this breakout's direction: is Bitcoin going higher or lower? Unfortunately, a descending triangle is not easy to decipher, but we have some signals and indicators to help us.
However, if the descending triangle is broken out to the top side, we could see the beginning of a rally. A breakdown below the triple bottom will confirm more downside is ahead. Validation would come on a throwback where it tests the former triple bottom support as resistance. From there, expect much steeper declines. A breakout to the upside would be confirmed as it moves past and closes above the falling trendline. Validation would come once it breaks past the last high within the triangle.
As for targets, the first high and first low of the triangle is subtracted and then added to the breakout or breakdown. This gives us the expected level the crypto will wind up at in the near term. This one is a little tricky because if I extend the upper resistance trendline, it can extend to the June highs.
However, a triangle is typically measured after the downward trend stops. This would put the first high in August. This is a more reasonable scenario as the targets are not wildly out of band. Which Direction To Expect So what are the odds this moves in one direction over the other?
It's difficult to say before we get a day with a lot of volatility or a large move. But, basing it purely on pattern odds, it's a bearish outcome; it fits well within the parameters of a continuation pattern. However, this level has a lot of support as it extends as far back as December This would require heavy, sustained selling to break below the support level.
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The last time the price was at this level, there was a battle between the bulls and bears. Expect to see a similar scene play out this time as well. Let's look at a couple more details. The last time price was sitting at this level, it pierced the support zone multiple times before making a new move.
This time, we are floating slightly above the support zone. Although there is no confirmation of the next direction, we do see some early signs of bull regaining control. The bulls need to take action or lose this critical level. However, if the level is lost, the price will continue to make lower lows. This time frame gives us a better look at when to pull the trigger. Here, we get a better picture of the channel that is being respected.
In the short term, the bears will remain in control until we see a confirmation of support. If BTC closes above the area of interest, expect the price to continue towards the midline. However, if there is a rejection at this level, expect the price to revisit support.
Any confirmation of direction, like taking out the midline, will be a sign of bulls coming back with strength. For now, the bulls have found minor support. Price action has bounced off the major support. In times of uncertainty, investors fled to what is more stable.
In the cryptocurrency world, that rock is BTC. As it continues to gain exposure, stability will likely follow. Institutions will continue to slowly accept BTC and adopt it as a payment method. For now, BTC dominance is at a major support level.
Summarizing the Above BTC on the monthly time frame shows that the trend is in favor of the bulls. BTC on the weekly time frame shows that there is no confirmation of the next direction. BTC on the daily time frame shows that the bulls have found a short-term support level. BTC dominance is at major support. Remember that this is all based on the subjective views of the writer.
As always do your own research. According to our historical data, it is currently not profitable to invest in Bitcoin. The price of Bitcoin decreased by What are Bitcoin's key price levels? Price breaks from those levels could indicate higher volatility in the coming days.
Is Bitcoin a good buy in ? Based on multiple technical quantitative indicators, the current forecast for Bitcoin in is Bearish. This could be an indication that Bitcoin is a bad buy in How is Bitcoin correlated to other assets? Positive correlation means that these coins commonly trend in the same direction at the same time.
What will the price of Bitcoin be next week? According to our Bitcoin forecast, the price of Bitcoin will increase by 2. The day SMA indicates the average price of Bitcoin over a day period. The day SMA is commonly used to gauge the price trend of an asset over an intermediate period of time. A rising Bitcoin day SMA indicates a positive long-term trend.
Many cryptocurrency traders pay close attention to the markets when the current Bitcoin price crosses an important moving average like the day SMA. What is Bitcoin's day RSI and what does it indicate? The RSI Relative Strength Index is a very popular technical indicator used to analyze prices of a variety of assets, including Bitcoin.