Bitcoin (BTC) analysis thread

[momo3HC]

Hi all. Some time no see from me but here I am again. First of all what a week from BTC wow, but a perfect price action follow from it. Into the next couple of analysis i`ll show you the needed steps 1 by 1 from BTC to reach the next ATH. But let`s start from the mid-term situation (chart 1).
First we`re back into the triangle which we`ve broke down in the beginning of March. Let`s see where we`ll break it now.
Secondly we`re back above the 50 weekly SMA. Another bullish signal.
Third, PSAR also turned bullish.
Fourth, we`re way above the weekly pivot point ($7405.39) – bullish. This is for the 7th consecutive week and also we have 7 consecutive green weeks. That`s something we didn`t saw from February 2019, the start of the 14K run. Isn`t that bullish?
Fifth, we`re back above the 200 daily SMA. All that 5 facts makes me super bullish!
Actual support and resistance:
1. Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800 2.
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. This in short is the mid-term look – BULLISH.
Now let`s see the first step from the long-term ATH scenario. (chart 2)
A very simple monthly chart. The only indicator here is the 21 monthly EMA. Like you`ll see every time when we`re above it we`re going up. Yes, in March we went below but in April we`re not only get back above it but the April`s candle fully recovered the March one and even a bit more. Like I said that`s the first needed step for the long-term bull run and even the next ATH. What`s the others? You`ll see into the next analysis.

 

[DaveT]

The bulls are back with a bang!!!

 

[K_Robdog]

I am very optimistic about the bitcoin bulls here

 

[steveday76]

A great week for crypto, hopefully bitcoin will keep rising steadily.

 

[momo3HC]

Hi all. Like i`ve promised you last time, into the next couple of analysis i`ll show you the needed steps 1 by 1 from BTC to reach the next ATH. I`ve discussed the first one last time and now it`s a time for the second. Part one from the second condition for the next ATH (chart 1).
It`s simple. Part one from the second condition for the next ATH is to close a monthly candle above this actual down trend. This trend is massive. 28 months (851 days). That`s why it`s so important to break it. Just a quick wick for now which is nothing major. A close above $10500 break will be really massive bull signal and then this first part will be done. The good point at this chart is that we`re still above the 21 monthly EMA (this was the first condition for the next ATH).
Part two from the second condition for the next ATH (chart 2). It is to mark a HH (higher high) into the weekly chart. This means a close of a weekly candle above… guess what price… $10500. Yes, we were close before the latest dip but nothing`s yet lost. In summary: the needed level is $10500 and we need a monthly candle close and a weekly candle close both above it.
Actual support and resistance:
1. Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800
2. 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.
3. Weekly pivot point is $8679.42. The price is moving around it now and let`s see how it will end the week. 4. 50 SMA situation is same like the pivot point. The price is moving around it now and let`s see how it will end the week.
5. 21 weekly EMA is far below the price for now. Not bad.
In short $10500 is my golden price line. If we go above it… MOON and beyond!
See ya next time with the third part of ATH scenario.

 

[georgequayle]

View attachment 53500
View attachment 53501
Hi all. Like i`ve promised you last time, into the next couple of analysis i`ll show you the needed steps 1 by 1 from BTC to reach the next ATH. I`ve discussed the first one last time and now it`s a time for the second. Part one from the second condition for the next ATH (chart 1).
It`s simple. Part one from the second condition for the next ATH is to close a monthly candle above this actual down trend. This trend is massive. 28 months (851 days). That`s why it`s so important to break it. Just a quick wick for now which is nothing major. A close above $10500 break will be really massive bull signal and then this first part will be done. The good point at this chart is that we`re still above the 21 monthly EMA (this was the first condition for the next ATH).
Part two from the second condition for the next ATH (chart 2). It is to mark a HH (higher high) into the weekly chart. This means a close of a weekly candle above… guess what price… $10500. Yes, we were close before the latest dip but nothing`s yet lost. In summary: the needed level is $10500 and we need a monthly candle close and a weekly candle close both above it.
Actual support and resistance:
1. Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800
2. 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.
3. Weekly pivot point is $8679.42. The price is moving around it now and let`s see how it will end the week. 4. 50 SMA situation is same like the pivot point. The price is moving around it now and let`s see how it will end the week.
5. 21 weekly EMA is far below the price for now. Not bad.
In short $10500 is my golden price line. If we go above it… MOON and beyond!
See ya next time with the third part of ATH scenario.

Nice one, keep it coming

 

[DaveT]

I like your thinking.....

 

[Christina Ledger]

View attachment 53500
View attachment 53501
Hi all. Like i`ve promised you last time, into the next couple of analysis i`ll show you the needed steps 1 by 1 from BTC to reach the next ATH. I`ve discussed the first one last time and now it`s a time for the second. Part one from the second condition for the next ATH (chart 1).
It`s simple. Part one from the second condition for the next ATH is to close a monthly candle above this actual down trend. This trend is massive. 28 months (851 days). That`s why it`s so important to break it. Just a quick wick for now which is nothing major. A close above $10500 break will be really massive bull signal and then this first part will be done. The good point at this chart is that we`re still above the 21 monthly EMA (this was the first condition for the next ATH).
Part two from the second condition for the next ATH (chart 2). It is to mark a HH (higher high) into the weekly chart. This means a close of a weekly candle above… guess what price… $10500. Yes, we were close before the latest dip but nothing`s yet lost. In summary: the needed level is $10500 and we need a monthly candle close and a weekly candle close both above it.
Actual support and resistance:
1. Support:
1st support - $8500 - 50% Fibo and VPVR profile
2nd support - $7800
2. 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.
3. Weekly pivot point is $8679.42. The price is moving around it now and let`s see how it will end the week. 4. 50 SMA situation is same like the pivot point. The price is moving around it now and let`s see how it will end the week.
5. 21 weekly EMA is far below the price for now. Not bad.
In short $10500 is my golden price line. If we go above it… MOON and beyond!
See ya next time with the third part of ATH scenario.

awesome- did you trade btc over the weekend?

good analysis thanks for sharing <3 Ihope btc does moon soon!

 

[sebking1986]

Looking good! Still fancy it to build back up the $10500 mark and test it

 

[K_Robdog]

Still bullish for now, I hope we see the gap close before the next short term drop