D4rkEnergY is back! With the 2nd Bitcoin chart for today! Let me be honest to you guys! Bitcoin has been sooooo hard for me to predict the last couple of weeks. From what I can see in here, almost every Top TA author in here and the top Crypto-TA guys on Twitter have the same experience.
Every indicator points in one direction, you get confirmation, and suddenly everything changes 180 degrees. Bull traps, bear traps everywhere.
I've been in this game in a long time. And that is part of it. Sometimes the market is just so chaotic!
I don't know if you remember? I made this chart 2 days ago, but I slowly started to NOT believe in it. And I threw it out of the window. But maybe it's not so stupid - So far it has been following my predictions. So let's take a look at it again.
We are at this very moment fighting with the EMA50! As I see it, we have 2 plausible scenarios now! But what do I know about TA?
1. We might be on the B-wave (blue). But for this scenario to succeed we have to go above 7,500 USD, which will indeed be hard. There are so much confluence resistance in that area. Including the EMA100.
2. We might be in a triangle ABCDE corrective pattern (orange), which I find most likely, at this moment. It means that we will go sideways for a while, as you can see.
But again: What do I know about TA??
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Remember to give me a LIKE - not because of my shitty TA. Just because I'm a nice guy :)
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So we got rejected from the EMA50. Too strong of resistance. It seems we will go don now, and let's see if we get an ABCDE correction or we will fall to 6k immediately :)
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As you can see on the Daily Chart it looks pretty good for the bulls! Slowly but rising RSI, and we just had a bullish MACD-Cross.
The volume is just under the MA20 Volume. This will indeed be exciting to follow :)
Please give a like for the updates - Love <3
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We do have a steep uptrend followed by a pennant, which normally predicts we will go even higher. But we really have to be careful due to EMA50 and the dotted black resistance line AND the yellow line 78,6 % Fibonacci Level.
Remember to give a LIKE, guys! Thx, my friends :)
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Ouch ouch.... there was the breakout! We went through the EMA50! AND NOW IT'S GONNA BE EXCITING.
Will we also go through the dotted black resistance line!!?? Then we might be back in 4 days old prediction, I forgot all about.
I will keep you updated, my friends <3
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I think we probably soon will fall due to the ascending wedge. It would also confirm my prediction, that we are in a process of an ABCDE-triangle correction.
As you can see we also have a double top resistance at Level 60 on the RSI.
Let's see. D4 Loves you - please leave a LIKE my friend <3
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Hey guys!
So we managed to climb a bit higher than expected. We have to go down now. We keep getting rejected at RSI 60.
I will make a new chart for you very soon - please give a like! D4 <3
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ALWAYS trust D4, ok guys! He is here for you, remember :)
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So everything so far match with my prediction and the ABCDE-correction.
We broke the super strong 6,8k support level. We might go down to 6,6k, but not necessarily. We have already retraced enough. This be more of an symmetrical triangle if we don't go lower.
Please give a LIKE - Thank you, my friends :)
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THE ULTIMATE BITCOIN-Question! - And Here is THE ANSWER! NEW CHART!
I wish these bulls would stop market buying for a couple days. Then the bears (who are probably the bulls from the big run in Q4 2017) would get to the bottom they want to see and then they will turn into bulls again. Then we can all be bulls again! Come on!! Let's bottom this baby out, then buy in hard and go order our new lambos! Who agrees with me??? NO MARKET BUYS- 2 DAYS! Then we go gang busters!
NewYork888
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@davidflana, BTC is headed to $1,226 eventually with a stop at $3,200 along the way - it may take a bit more than two days for that Lambo but good luck.
davidflana
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@london55555, awwww man! I thought it would be easy. I was told there would be lambos.
tokeylokey66
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@davidflana, exactly
BAN the bulls, they are the ones dragging this market along
Why not lighten up the buy walls and make a push at 5900, our previous low
If that does not work down to the next support and make a push
They keep desperately pumping us up when Bears are not happy
davidflana
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sniff sniff... sniff.... I smell a trap! no volume behind that break of the 50..
bahmani
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Bearish Divergence
Gomez_Addams
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You are beating yourself up for nothing. Relax, we are very close to where BTC wants to be before it reveals to you where it wants to go. Who's in control? The problem here on TV is crypto analysis is over done and not simplified. Yes its easy to get caught up in the noise or feel compelled to inform with opinion because of some race to beat the other pundits on TV. More often than not, when price action picks up, its to draw you in. BTC as I've said before, is at THE MOST critical point. Multiple supports and resistance have focused the price action to where we are now. The picture I get from my custom indicators and a basic chart on TV is, that if it falls and breaks current support, it in effect has taken the most important Fibonacci ratio of this current cycle out. All cycles have pointed to the current price zone. The most important price zones of the entire bullish cycle confirm this. I don't need some flawed indicator with noise from the algo rendering software to inform me where BTC wishes to go. Price over time has done this with the help of millions of free willing market participants. However, support is support till its broken. Still short, tighter stop. Next 7 days sharpen the focus, direction will change. With daily momentum and strength picking up. Who knows, eventually I might go long but only if the price can stay above 6.75K ;)
ShaheenFahmy
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Looks like a rising wedge, similar to what we got 7 days ago.