Bitcoin (BTC) analysis thread

pezz55

Sergeant
Messages
134
View attachment 55391
View attachment 55392
Hi all. A boring week again.
This week i`m going a bit long-term again with 2 charts again.

Can the history be repeated? (chart 1)
It`s not 100% sure that the history be repeated but since now it looks like it`s happening even with some little differences but they`re insignificant. I`ll not say much more and will let you to think about this pattern.

Bitcoin Puell multiple. (chart 2)
This is something really interesting too. Thanks to Glassnode and their Puell multiple (PM) chart we can see a never failed since now bullish signal and even more. We saw this signal in the past is 100% right and now it`s even confirmed cuz the PM line went down to the green zone, then went up out of it, then back down but it bounced almost at the border and went back up. You can check this chart on their site.

Actual PA situation:
  • The price is still trying to breach the upside line but still can`t do it.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 10 weeks bullish signaling.
  • Weekly pivot point is $9249.13 – a similar scenario like the last two weeks. Sorry to say it again but seems like we`ll end this week below it which can lead to another negative (3rd) week next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.

That`s all for now.
See ya next time.
Not sure history will do it again. dont see the hype behind bitcoin on the rally side at the moment. to many people looking to get in at a lower price. great read tho
 

Farm_Yard_Forex

Corporal
Messages
115
Sadly I am inclined to agree with @pezz55. Bears are still well in control and want that low price. I have no doubt it will increase in price long term but not sure how much we can draw from history with BTC yet
 

momo3HC

Master Sergeant
Messages
430
BTC 11072020_1.jpg

BTC 11072020_2.jpg

Hi all. A bit more interesting week but nothing special.
Last week we`ve talked about history and can the it be repeated. This week i`ll continue with a 2in1 chart.
It`s simple enough and It`s all about Golden crosses (GC) and Death crosses (DC). I`m comparing the 2015 PA and GC/DC to the nowadays one. The GC are green circles and the DC are red ones. If someone don`t know what this crosses means – google it. Also If someone of you don`t know what happened after the end of 2015 lets check the charts. Till now the situation is 1:1 to the 2015, which is very interesting and let`s see how it will continue.

Actual PA situation:
  • The price is still trying to breach the upside line and now it`s a bit higher than it but nothing significant.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 11 weeks bullish signaling.
  • Weekly pivot point is $9093.94 – there`s good signs that we`ll close the week above it, which will be very positive for the next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
For now, the next week material will be close to this but a bit more interesting and promising, if something significant does not happen.
That`s all for now.
See ya next time.
 

pezz55

Sergeant
Messages
134
View attachment 55572
View attachment 55573
Hi all. A bit more interesting week but nothing special.
Last week we`ve talked about history and can the it be repeated. This week i`ll continue with a 2in1 chart.
It`s simple enough and It`s all about Golden crosses (GC) and Death crosses (DC). I`m comparing the 2015 PA and GC/DC to the nowadays one. The GC are green circles and the DC are red ones. If someone don`t know what this crosses means – google it. Also If someone of you don`t know what happened after the end of 2015 lets check the charts. Till now the situation is 1:1 to the 2015, which is very interesting and let`s see how it will continue.

Actual PA situation:
  • The price is still trying to breach the upside line and now it`s a bit higher than it but nothing significant.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 11 weeks bullish signaling.
  • Weekly pivot point is $9093.94 – there`s good signs that we`ll close the week above it, which will be very positive for the next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
For now, the next week material will be close to this but a bit more interesting and promising, if something significant does not happen.
That`s all for now.
See ya next time.
To be honest i feel currently Bitcoin is exhausted its bull run move., we will see consolidation and a push up higher but between the 10k-11k mark then consolidation again, Don’t see it pushing any where as near as predicted any time soon
 

K_Robdog

Recruit
Messages
95
I’m hoping it’s bullish, would like to see another push up to $10k… It’s been a while since its been up there.
 

momo3HC

Master Sergeant
Messages
430
BTC 16072020_1.jpg

BTC 16072020_2.jpg

Hi all.
Like i`ve promised you last week, this week analysis will be a bit more interesting and promising than the last one. It`s in two parts (charts) so let`s get straight to the point.

Actual PA situation (chart 1):
  • The price broke the upper side of the symmetrical triangle which i`ve showed you almost a month ago. Well, technically it`s already a fact, but I want to see a more significant upper move to be 100% sure.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 12 weeks bullish signaling.
  • Weekly pivot point is $9279.63
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
Also got to mention that the BTC volatility is at it`s more than an year low. That talks about a significant move soon. Last such low was before the 14K run last summer.
All this points are 100% bullish and seems like Plan A is in play but we`ll see.

2 days chart (chart 2)
This chart is similar to the last week one but… here`s the two differences. First – it`s a 2 day chart but not 1 day (not very popular time frame). Second – it shows only 3 Golden crosses (GC) into the Bitcoin history and all this 3 GCs were 100% accurate. All this 3 GCs were followed from a massive bull runs. Guess what is about to happen right now… a 4th GC! Yes it`s happening right now. 50 and 200 MA are crossing each other and forming GC. It`s not fully formed for me but they`re crossing and it`s almost done. If you don`t see this as massive bullish signal I don`t know what other can be.

That`s all for now.
See ya next time.
 
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