1) Fibonacci A) The blue rectangle indicates the area of possible rebound to continue movement B) The red rectangle indicates the area that calls into question the continuation of the movement C) The black rectangle cancels continuation of trend
The price dropped to the black rectangle and on 6th of February the trend was changed to a downward trend .
2) Inverted cup and handle For two months the model of the inverted cup and handle has been generated , this model indicates a continuation of the downward trend , the target level is indicated on the chart
Midterm analysis The price range is narrowing , on the chart you can see the emerging triangle , usually breakthrough occurs in the direction of the trend .
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Status wait for the breakthrough of the triangle
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indicators confirm a breakthrough , we must wait for the closure of the four-hour candle
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LOL ,the price broke the main downward trend line . in my opinion it's just a market manipulation
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To reduce risks, wait for the day candle to close
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The huge volume
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For new readers
I don't make any predictions I just use technical analysis and I calculate the formations on the chart
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we test the resistance line , wait for the day candle to close above the resistance line
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The price was fixed above the downtrend line at the moment we are testing the support line of 7770 and i don't see the correct entry point
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Everything looks good , but there is no entry point . You should understand that experienced players came to the market and this can be a bull trap We need to wait for the correction to check the movement
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indicators don't confirm movement , correction is possible
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ENTRY closing a four-hour candle above the descending line
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there is a risk of slippage , safe entry - 3% of the breakdown point
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IMPORTANT We need a three percent breakthrough of flag and closing four hour candle above the descending line for continue the movement STATUS Don't trade
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On the chart, we see the breakthrough of the flag , ideally we need to wait for the closure of the four-hour candle The resistance zone is 8900 - 9200 The target level of flag is 9600
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bearish absorption is possible and correction too , be careful
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The bearish absorption is possbile and correction too , be careful , better sell
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closing the four hour candle below the level of 7240 will mean a correction movement
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it looks like a pennant , closing the four hour candle above the level of 8400 will mean a continuation movement
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In case of continuation of the price reduction, closing the four hour candle below the blue rectangle will mean doubt in the upward movement STATUS Don't trade
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The bearish absorption on the day chart , be careful , the very bad sign
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On the chart we can see the breakthrough of the flag . The target level is 7518
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Honestly , I don't know what is this In the red circle we can see the small volume I think it's the trap Closing the four hour candle above the blue line will mean the continuation of the movement
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I noticed the form of head and shoulders on the chart . Most likely the last jump in the price is another manipulation for save . It's only my guess
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On the chart we can see the bullish absorption , it's the good sign for price growth SAFE ENTRY[/B] Closing the four hour candle above the blue line
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The price rebounded from the blue line Wait for the closure of the four-hour candle
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The four hour candle closed above the blue line The indicator shows the forming of the trend
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Everything looks good. The candles closes with the a new high , it's the good sign of start the bullish movement.
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with a new high*
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Ideally we need the closure of the day candle above the blue line
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Important , especially for smart ass
I don't claim that bitcoin will die or will become much cheaper , I'm just analyzing the chart and i don't manage the price / market
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The four hour candle closed above the resistance zone ( the red rectangle ) It's the good sign for price growth , the approximate target level is 9500 On the day chart we can see the three candles with a new high , it's the sign of acceleration. The closure of the day canlde above the red rectangle will be a good confirmation sign
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day candle*
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The price confirmed the previous resistance as the support , it's the good sign
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The falling star pattern , the reduction in price is possible , be careful
This is the funniest thing I have ever seen. I'm not making fun of you, but this was entertaining to read.
I'm not a TA guy, I'm a social scientist. But what I just read is an example of when someone uses data to confirm their theory instead of letting the data drive your theory. In experimentation, we "test" our theory, but our theories are derived from the existing data. Then we go collect more to test that theory.
It really does look to me like you "expected" Bitcoin to fall and so you found that story in your data, no matter what the data was saying.
That update from 10 hours ago was what I was waiting for when I read all of this when you said "Honestly , I don't know what is this" :)
Again, I'm seriously not trying to make fun of you. Best wishes and thanks for all your work here.
I think maybe you're using the tools wrong? Who knows, maybe BTC can go to -3482.50? I will definitely buy those!
Death is indeed coming.
Bombita
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@arthax0r, LOL
lazytrade
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Looking at the top most charts... is that a dead cat bounce?
Bombita
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@arthax0r, What do you mean? I don't claim that bitcoin will die or will become much cheaper
I'm just analyzing the chart and now there are bullish signs
lazytrade
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@Bombita, I've learned how to see any kind of sign I want to see. Now I'm learning to see the truth... which is also rather subjective. :)
Bombita
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@arthax0r, good for you
lazytrade
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@Bombita, Oh, and you know... dead cats don't bounce very well.. but you might get one or two if it falls from high enough.
I'm not a TA guy, I'm a social scientist. But what I just read is an example of when someone uses data to confirm their theory instead of letting the data drive your theory. In experimentation, we "test" our theory, but our theories are derived from the existing data. Then we go collect more to test that theory.
It really does look to me like you "expected" Bitcoin to fall and so you found that story in your data, no matter what the data was saying.
That update from 10 hours ago was what I was waiting for when I read all of this when you said "Honestly , I don't know what is this" :)
Again, I'm seriously not trying to make fun of you. Best wishes and thanks for all your work here.