BTC My Technical Analysis

LuckyGamble said:
Then cashout 100% your crypto then buy the crash once that happens :)
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That's not an option either because I need to have crypto laying around in case I need to buy something to support my online business.
 
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level 1 target reached, 30K hopefully (no technically) should act as a support for a pull back or pause or consolidation but overall trend is down and 35K will act as resistance, if it breaches 28500, technically it should go to 0 or close to it.
 
ranga said:
level 1 target reached, 30K hopefully (no technically) should act as a support for a pull back or pause or consolidation but overall trend is down and 35K will act as resistance, if it breaches 28500, technically it should go to 0 or close to it.
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I am not a Bitcoin advocate per se, but I dont know how anyone can actually think its possible for BTC to go to $0
 
KingyOfficial said:
I am not a Bitcoin advocate per se, but I dont know how anyone can actually think its possible for BTC to go to $0
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Not think but rules of TA, they don't always work but give a general guideline. When a double top is broken down, the target is equal to distance from neckline to top. The distance in both the tops is around 30K, so technically if neckline is broken down then target is the same distance in the other direction. Will it happen and BTC go to 0 - unlikely. Will there be significant correction - likely.
 
BTC has broken down key level of 28600 if it stays below it in today trade. Now lets see how deep the rabbit hole goes and if my TA assumptions hold.
 
ranga said:
BTC has broken down key level of 28600 if it stays below it in today trade. Now lets see how deep the rabbit hole goes and if my TA assumptions hold.
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BTC did a smart comeback and closed around 29000 above the 28600 mark. Also it made a doji with long tail, which is indicative of short term change of trend.
 
BTC is taking support at expected level of 28600, now have to wait and see if it makes a short term continuation pattern like flag or pennant, or medium term sideways pattern or have a pullback. But the overall trend is down and if a pullback comes 34500 is first resistance and pullbacks should be a chance to short.

Zoomed Out Chart

BTCUSD_2022-05-15_09-02-33.png

Zoomed In Chart

BTCUSD_2022-05-15_09-02-48.png
 
Kinetura said:
The cryptocurrency market is very unpredictable, anything can happen at anytime.
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The moment one realizes that Bitcoin price is in the hands of the big whales, from that moment onwards Bitcoin price is very much predictable. Bitcoin is now at US$30000 and everyone is thinking that it is recovering !!! Hahahaha ... It is as usual a trap by the big whales. Bitcoin will bottom out at US$8000 in a few months.
Tether regularly prints trillions of USDT out of thin air and sells it at a good discount to the big exchanges and big whales and the big exchanges and big whales use this regular supply of cheap USDT, to play Bitcoin in order to liquidate the leveraged long trades & the leveraged short trades, because doing so makes the exchanges make huge huge huge profits, in which the big whales have a cut.
So, US$30000 people think Bitcoin is "recovering" and many will obviously long Bitcoin. Then after a few days, boom !!! All those leveraged long trades will get liquidated.
Bitcoin price is totally predictable once someone understands what is explained above.
 
BTC is Taking strong Support at 28600 Levels and is kind of making a pennant, if it breaks the support first target should be around 18-19K but it can go more down. It can also move up after taking support, but trend is still down with downward trendline acting as ceiling (see zoomed out pic). So up move can be used to exit positions or creating fresh shorts. If it breaks the trend line to upside (less likely) then trend can change.

PS: Those who are still sceptical about TA, the support line at 28600 was drawn months before.

Zoomed In Image of Pennant
BTCUSD_2022-05-27_13-29-25_5412e.png

Zoomed Out Image with Downward Trendline

BTCUSD_2022-05-27_13-29-41_b7099.png
 
btc will come back to 6k - 3k. musk left the chat. if someone enters go back to 40k max..after luna crash... sad thing USD terra Crash. some whales are leaving. and some media against crytpo. crypto is not a future. may be old whales try to save crypto.
 
Update:

BTC has broken 28600 support, so now who bought and HODL since Dec 2020 are now in losses and feeling pain. The selling pressure will increase and its culmination of big Heads and Shoulders Pattern in formation since 2021. So in crypto speak "Big Dump has Come". However, all this happened on weekend so I would wait for monday trading or a pullback to go short.

ETH Etherium is the first mover and Bitcoin followed, I am also attaching ETH chart because it makes a nice perfect heads and shoulders pattern which is now broken.

Ethereum 1 Week

ETHUSD_2022-06-12_09-18-46.png

BTC - Overall and Zoomed in Chart

BTCUSD_2022-06-12_09-18-14.png

BTCUSD_2022-06-12_09-18-21.png

Also, as always this analysis is for education and discussion purposes only and not a trading advice.

For TA sceptics, 28600 support was predicted on chart a long time back and look at how many times BTC got support at this level in the zoomed in chart.
 
ranga said:
Update:

BTC has broken 28600 support, so now who bought and HODL since Dec 2020 are now in losses and feeling pain. The selling pressure will increase and its culmination of big Heads and Shoulders Pattern in formation since 2021. So in crypto speak "Big Dump has Come". However, all this happened on weekend so I would wait for monday trading or a pullback to go short.

ETH Etherium is the first mover and Bitcoin followed, I am also attaching ETH chart because it makes a nice perfect heads and shoulders pattern which is now broken.

Ethereum 1 Week

View attachment 214131

BTC - Overall and Zoomed in Chart

View attachment 214133

View attachment 214132

Also, as always this analysis is for education and discussion purposes only and not a trading advice.

For TA sceptics, 28600 support was predicted on chart a long time back and look at how many times BTC got support at this level in the zoomed in chart.
Click to expand...
$12-$18k coming later this year!
 
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