BITCOIN (#BTC): RETRACEMENT AT $3000 ZONE!

ที่อัปเดต:
Hi Guys,
This is my idea based on Elliott's Wave theory.
If my counts are correct - BTC should go to test $3200-3000 zone. In case of successful re-test BTC could go to upward, up to $6000 zone is expected!

If you like my TA, please hit that "like" button, follow me or leave your comments. Thank you!
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สแนปชอต
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1D chart:
Stoch-RSI is in upper level and indicates that bulls are loosing momentum. RSI-Stoch remains below Level-30. RSI is approaching Level-30 now, but trend reversal hasn’t been confirmed yet. Looking at MA, the BTC is above MA8, but the rest of MA are above price and acting as dynamic resistances. The nearest MA lie at $4450 and $4900. At smaller TF, MA are crossing each other and they aren’t useful at the moment.

4H chart:
I drew possible price movements. I still remain bearish until $4500-$4600 resistance zone will be broken.
สแนปชอต
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As we all may have seen, BTC had breaking up candle above $4000. BUT this movement wasn’t so significant to hold BTC above 4K level. Currently we are back below 4K.
I have been looking at BTC for hours, looking for some bullish sign. But, I’m not successfull. I see only bearish signs and i expect next drop. So, I’m still bearish and count with my 3K idea.
สแนปชอต

Moving averages successfully hold BTC below 4K.
สแนปชอต

Stoch-RSI is moving in upper levels. which should be indication of overbought market and sign of bears getting control over the market. So, in my opinion, we have to go to bottom levels before the prace will rise.
สแนปชอต
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สแนปชอต
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Hi Crypto Fellows,
Brief BTC update … As we all may have seen, BTC had fakeout to $3800 zone. Volume wasn’t so significant to hold BTC above this mark. Currently the price of BTC is at around $3500.
So, what we can expect now? I’am still looking forward to at least $3000 zone.
But before BTC drop down deeply, we could see $3800 mark again. Now, it seems that BTC is performing Expanding Triangle, see brown ABCDE letters. So, BTC should repeat previous price movements, it means drop to $3300 then rally to $3800.

สแนปชอต
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Hello,
One more update … I’m still bearish and expecting drop to $3000 or a little lower. I’m surre, that new uptrend impulsive wave hasn’t started yet and we are still in correction. Recent BTC’s movements don’t meet necessary EW’s rules.
Resitance between $3700 - $3800.
สแนปชอต

Stoch-RSI outlook:
สแนปชอต
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Hello, in spite of current price increase, I remain bearish. My bearish idea will be invalidated if BTC successfully get through $3800. If this happens, $5400 seems to be solid profit target.
สแนปชอต
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Hello Crypto Fellows,
Bitcoin is still moving inside corrective pattern - Diagonal Expanding Triangle. Target at around $3000 still in the game.

1H TF:
สแนปชอต
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1D TF RSI/Stpch/MACD:
สแนปชอต
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1D TF MAs:
สแนปชอต
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Still on the way to $3000 zone.

สแนปชอต
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Bitcoin ($BTC): Complex Corrective ABC
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Finally , BTC made a one more Impulsive Wave and hit $3200 mark and impulsive Wave was done. Currently, BTC is in correction and the price is decreasing.

It’s difficult to predict the next movements for BTC now. As I wrotte yesterday, everything depends on current correction. Regarding to final retracement zone, the next price movements can be set up.

See TA, I charted possible options.
สแนปชอต
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Drop to $3700-$3600 zone, followed by uptrend is still active.
On 1D chart … I can see a few potential bullish signs:
We can see finished Bullish Divergence, the price was making lower lows, but Stoch-RSI was making higher highs. Divergences found at higher TF are obviously strong bullish signal. MA8 and M21 finished Golden Cross, another bullish sign. The last one, Head and Shoulders pattern, which is reversal pattern.

On the other hand … also I can see a few bearish signs:
The price is back below MA21
Stoch-RSI is bearish, the red line is above the blue one. RSI-Stoch is heading to south, but lines haven’t crossed each other yet.

Conslusion … now, wee need more patience. As I wrotte a before, Bitcoin has a good potential to go upward, to $5000. Imo, the best buy zone is between $6700-$6600.
Resistances: $4000/$4400/$5000
Support: $3600/$3200 and psychological $3000.

สแนปชอต

สแนปชอต
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Hi Fellows,

So, Bitcoin gave to us a late present, today's pump. Is this today's price incerease valid?

I guess, Yes it is! As I wrotte before, BTC bounced up from important support zone with significant volume. And Volume is very very very important!

I ment Head and Shoulders pattern in my last analysis. Since then, Bitcoin finished right shoulders and baunced up. Currently is heading to our 1st target - the H&S neckline, between $4300 - $4500.

Sum up, I'am optimistic and I'm long. If you want to buy BTC, buy now or wait for minor retracement to $3900-$3800. Stop loss $3600.

The next "potential" targets are mentioned in TA, vilolet rectangles.

สแนปชอต
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Let’s take a look at current Bitcoin situation.
We can see that Bitcoin continues towards to inverse H&S neckline and the price is still inside the right shoulder. So, we don’t know now, if this pattern will be successful and Bitcoin will continues upward to next targets. Bitcoin already had a few failure of inverse H&S. But, for now, this pattern seems to be valid!
สแนปชอต

Next, move to MAs on 1D chart. We can see potential Bullish cross of MA8 and MA21. MA55 is currently below the price and Bitcoin is testing this support. So, these MAs are playing as our support.
RSI and Stoch indicators are heading to the north and there is a space for furher growth.
สแนปชอต

Today, BTC had unsuccessful attempt to go upward :-( . What does it meant?
That $4200-$100 is strong resistance zone and it would not be easy to get through this zone for Bitcoin. Also it means, that corrective Wave-2 hasn’t finished yet.

Conclusion … i’m optimistic and guess we can see one more leg upward (prift target revised to $4200-$4300), of course with necessary volume. If you are trading, your stoploss should be always active. If you consider to buy, wait for successful breakout of mentioned resistance zone.
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1D Chart:
MA55 successfully defends Bitcoin of further growth.
MA8/MA21 performed Bearish Cross on 13.01.2019.
Stoch-RSI boucing "20 level" from below. It should be a sign of oversold market and potential bullish sign, weak for now.
But RSI-Stoch is bearish with no doubt and it is heading to south.

สแนปชอต

4H chart:
สแนปชอต
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BITCOIN ($XBT): ABCDE PATTERN WILL LEAD US BELOW $3000
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$3250 is an area I'm eyeing to complete current corrective Wave-B and then should Bitcoin should take us above $4000 as a motive Wave-C of current ABC correction. Current pattern looks like Ending Diagonal.

BITCOIN ($BTC): The Last Chance For The Bulls...
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Bitcoin (Cryptocurrency)BTCBTCUSDcryptotraderprocryptotradingElliott WaveTrend Analysis

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