Bitcoin (BTC) analysis thread

[momo3HC]

Hi all.
What a week for Bitcoin right? Like I’m repeating you last weeks it was imminent to see such movement.
Before the actual price action, I want to summarize the week into a couple of words.
First, we broke the 3 years symmetrical triangle at last and we did it with a significant volume. Till this night drop I was a bit concerned cuz we literally skyrocketed and like I’ve told you in the past, such movement without a correction is not healthy. At second point let`s get to this night drop. Yes, it was significant but for me it`s actually a perfectly bullish. Why? You`ll see from the price action below.

Actual PA situation:

• Support and resistance:
• Support:
• 1st support - $10500 – last MAJOR resistance. This support has been tested already with this night drop and done it`s job perfectly. That`s why I’m bullish about this drop.
• 2nd support - $9000
• Resistance:
• 1st resistance - $12500 – almost the last bigger resistance before the clear skies, accordingly to VPVR.
• 2nd resistance - $14000 – the last resistance before the 20K test I can say (the last top + VPVR).
• Somewhere between 1st and 2nd resistance is $10K, which can act as a support too cuz of the psychological level.
• 10 EMA – the price is still above it even without a touch of it.
• 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 14 weeks bullish signaling.
• Weekly pivot point is $9757.62. We`re far from it so far, so I can say that next week can be positive too.
• BTC volatility is still under 40 actually so more movements can be expected.

That`s all for now. Not much may be, but I think it`s explaining the actual situation. Next week i`ll try to go deeper.
See ya next time.

 

[Stephen Paul]

View attachment 56045
Hi all.
At last some activity for Bitcoin this week. Not much but for now it`s very bullish.

Actual PA situation:
1. At last the price significantly broke the upper side of the 3 years symmetrical triangle. If we close this week at this level the whole candle will be above this triangle which will be super.

2. 10 EMA – the price is perfectly bouncing from it again.

3. 21 EMA - the price is still above it even without a touch of it.

4. 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.

5. Parabolic SAR – Another bullish week and there`s 13 weeks bullish signaling.

6. Weekly pivot point is $9196.56. We`re far from it so far, so I can say that next week can be positive too.

7. Support and resistance:

7.1. Support:

1st support - $8500 - 50% Fibo and VPVR profile

2nd support - $7800

7.2. 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.

8. Like I told you last week the BTC volatility is very low. Under 40 actually. Like you`ll see from the chart, every time when this happened it`s followed by a significant move soon after it. Despite the corona drop, last such low was before the 14K run last summer.
All this points are 100% bullish and seems like Plan A is in play.

P.S. The 4th Golden gross on a 2D chart into a Bitcoin history is already a fact!

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

Thanks for your analysis, has certainly been a more eventful week.

 

[Shaun89]

This is really in-depth and impressive so be intrigued to see your deeper analysis. It has been a good week last week. Do you think we'll see ATH before Christmas this year?

 

[ScottHughes]

pushing 12k now and really feeling good. Looking to run the stock market close

 

[John perry]

bitcoin rely pushing at the moment do you think it runs in times of year like gold in december?

 

[momo3HC]

Hi all.
Well, nothing major happened this week for me and despite the very good green candle, which is forming, there`s nothing more to say about the PA. Other than that, there`s something very good and major happened with Bitcoin but you`ll see it from the second chart.

Actual PA situation (chart 1):

• Support and resistance:
• Support:
• 1st support - $10500 – last MAJOR resistance. This support has been tested already with this night drop and done it`s job perfectly. That`s why I’m bullish about this drop.
• 2nd support - $9000
• Resistance:
• 1st resistance - $12500 – almost the last bigger resistance before the clear skies, accordingly to VPVR.
• 2nd resistance - $14000 – the last resistance before the 20K test I can say (the last top + VPVR).
• Somewhere between 1st and 2nd resistance is $10K, which can act as a support too cuz of the psychological level.

• 10 EMA – the price is still above it even without a touch of it.
• 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 15 weeks bullish signaling.
• Weekly pivot point is $11035.14. We`re far from it so far, so I can say that next week can be positive too.
• BTC volatility is still under 40 actually so more movements can be expected. We`ve saw only a small part till now.

Bitcoin Realized price (chart2):

Thanks to Glassnode again we can check the Bitcoin Realized price chart. It`s very simple and clear. The grey line is the BTC price. The orange line is Realized price. Realized Price is the Realized Cap divided by the current supply. Or simply said that`s the price of all BTC paid in circulation right now. This Realized price at the moment is around $6000 and even above, which is the new all time high (ATH). If we check back in the past, every time when we saw such ATH we`ve had a parabolic run and a new price ATH afterward. BUUULISH!!!

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

 

[Jim B]

Good work, you’re always very in depth with your btc analysis

 

[reece Rispoli]

View attachment 56309
Hi all.
What a week for Bitcoin right? Like I’m repeating you last weeks it was imminent to see such movement.
Before the actual price action, I want to summarize the week into a couple of words.
First, we broke the 3 years symmetrical triangle at last and we did it with a significant volume. Till this night drop I was a bit concerned cuz we literally skyrocketed and like I’ve told you in the past, such movement without a correction is not healthy. At second point let`s get to this night drop. Yes, it was significant but for me it`s actually a perfectly bullish. Why? You`ll see from the price action below.

Actual PA situation:

• Support and resistance:
• Support:
• 1st support - $10500 – last MAJOR resistance. This support has been tested already with this night drop and done it`s job perfectly. That`s why I’m bullish about this drop.
• 2nd support - $9000
• Resistance:
• 1st resistance - $12500 – almost the last bigger resistance before the clear skies, accordingly to VPVR.
• 2nd resistance - $14000 – the last resistance before the 20K test I can say (the last top + VPVR).
• Somewhere between 1st and 2nd resistance is $10K, which can act as a support too cuz of the psychological level.
• 10 EMA – the price is still above it even without a touch of it.
• 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 14 weeks bullish signaling.
• Weekly pivot point is $9757.62. We`re far from it so far, so I can say that next week can be positive too.
• BTC volatility is still under 40 actually so more movements can be expected.

That`s all for now. Not much may be, but I think it`s explaining the actual situation. Next week i`ll try to go deeper.
See ya next time.

this is a great read thank you, i will be watching BTC

 

[steveday76]

Thanks for this, am hoping bitcoin will reach 12k soon.

 

[sebking1986]

Great analysis as always mate. Really looking strong at the moment.