In this new analysis it's expected for Bitcoin to reach the 0.786 Fib level of $8501.2 IF it breaks that level and closes bellow it the 1 Fib level is at $5400.2 which I doubt, Bitcoin should finish the and reverse the trend thus making all coins 'green' again.
Trade safely! (Do not take this as financial advice!)
BTCUSD shows a lot of BULLISH signals, the HUGE Flag, the Bullish Bat pattern, and the most important, the ABC correction wave (DONE???) In my opinion BTCUSD is not coming back bellow $10.000 (I could be wrong, but let's hope not.) The green square marks the perfect zone to buy-in, I doubt we will get back to it again any time soon.
I know the XABCD values aren't perfect nor is the Flag but I just wanted to share a quick sketch of whats happening.
A little thing I noticed as well, this last 3 candles show us a interesting thing, the first of the three last (big red one inside the square) has a Low of $10.1k and a close of $11.3k (shows buy pressure) which means people aren't letting the coin dropping more (kind of a "resistance") same happens on the "middle" candle, a Low of $9.2k and a close on $11.1k a BIG jump, that means a BIG buying pressure "pumping" Bitcoin and not letting it drop. The last candle (daily chart) closing above the Close and/or the High of the candle before it (High was $11.7k and the Close was $11.1k would be a nice bullish sign!
Lets see what happens! Trade Safe!
I advise you to watch this video! Great one!
Expect a drop on BTCUSD to around $10.500, if it breaks that level we might be seeing the $9000/$9500 levels again!
Wait for a breakout on either sides, don't get fooled by false breakouts!
It should go up in a short-term!
At this time I would just wait patiently !
WARNING BTC is on top of the support.
1H TF if the candle closes bellow the Yellow line we could see a drop, be careful!
Bounce upwards on that "support" broke out of an ascending triangle an of a symmetrical one! Strong jump, it will be followed by a small retracement that has already started.
Price will go down soon
TF of 1H Ichimoku is full bullish! Price is bouncing on the Tenkan Line
At 1H TF Ichimoku shows Bullish!
Careful if price drops (and closes) bellow the Kijun (Red Line)
Price made a resistance on that Yellow line, went there 2 times but failed, when it was expected to go there a third time the price was rejected by the cloud on 12h which is a decent TF to use Ichimoku safely. More updates to come.
Broke out of the Rising wedge originated on a downtrend so the main downtrend will continue
Price was reject by cloud on the 1D TF, Ichimoku shows Bearish. Price should drop to one of those supports, as I've said before I don't think we'll be seeing the 9K again.
I could be wrong but lets hope not.
Agreed with @Excavo
Small Symmetrical Triangle, price up
New rising wedge, price up
MA100 will cross MA200 (??) maybe price up.
Price broke down the channel. Bearish Flag done so price will drop.
1D TF if the candle closes like this we have Bearish Engulfing. Price drop.
BTCUSD 1W TF (Long TF means Ichimoku is powerful)
If price closes bellow Kijun we see BTC drop hard back to the 8k/9k levels.
Fibonacci Retracement, this is what will happen if BTC closes like this or worse.
I've made a new one on which I'll only post "important" Updates.
Heres the link: