Forwarded from Future Crypto Experts - Paid Channel
New setup on Bitcoin. No fomo, waiting for retest of the broken support and giving it a little bit higher entry in case it frontruns main support.
If it gets missed, it is not the big deal because it is going to our resistance in $8200 area where we will be waiting for bearish signs.
If it gets missed, it is not the big deal because it is going to our resistance in $8200 area where we will be waiting for bearish signs.
Approaching halving, Litecoin’s fundamentals are looking great.
We took long in our paid channel at 0.0136 and book the profit at target (0.0146).
Now it is a waiting game for the price to retest blue area that should act as a support.
If price action forms bullish pin bar, bullish engulfing or some similar bullish structure, we will take long again targeting 0.0155.
We took long in our paid channel at 0.0136 and book the profit at target (0.0146).
Now it is a waiting game for the price to retest blue area that should act as a support.
If price action forms bullish pin bar, bullish engulfing or some similar bullish structure, we will take long again targeting 0.0155.
We are approaching new very important weekly close. The last one triggered selloff on BTC as it was expected to happen. We are waiting for this one to close so we will share our bias for next week on Bitcoin as well as major altcoins.
Area to watch is $8200. The close below and we do believe next week will be bearish again with target on next weekly support ($7300).
It is currently $300 below that area so looks like we will get that close but let’s wait for it to happen so we can form new setups.
Area to watch is $8200. The close below and we do believe next week will be bearish again with target on next weekly support ($7300).
It is currently $300 below that area so looks like we will get that close but let’s wait for it to happen so we can form new setups.
Tonight we will do our second #TechnicalEvening. Send the coins you want to be covered to @CryptoSignalsAdmin and I will do deep analysis for 3 of them.
We decided to do #TechnicalEvening on every Monday evening.
The reason is very simple. We get weekly close and it makes bias for a week ahead so from now, every Monday evening we will share technicals on the coins you send to @CryptoSignalsAdmin
The reason is very simple. We get weekly close and it makes bias for a week ahead so from now, every Monday evening we will share technicals on the coins you send to @CryptoSignalsAdmin
#Bicoin
Looking at the weekly candlestick that fully engulfed two weeks before and made bearish close below $8200, not only that we think $7300 will be reached but most likely we will enter below $7000 aiming for next weekly support at $6400.
On the daily time frame, close below the previous close, MA cross are two signs that confirm weekly bearishness.
So there is the possibility of testing wick on weekly time frame (7950) but higher than that is not likely to happen in our opinion. If that is questionable.
On weekly, we close just below 0.236 Fibonacci level so we are still too high and overextended and have a lot of room to drop.
Main weekly support: 6400
Main monthly support: 4800
Main Fibonacci level (0.618): 5400
Even if we see a dump below $7000 and maybe even $6000, that is not something that should scare you. I already see the whole market panicking about bitcoin losing 6k floor again but it would be nothing but a perfect retest of monthly support and main Fibonacci level.
I just want to prepare you for the things that may happen so you stay aware of the opportunity you will have. At 9k, everyone wanted that they bought at 6k. When 6k happens, no one will think of buying it.
Don’t be one of them, stay calm and patient, focus on technicals and as long as support holds, buying makes a lot of sense.
To conclude, bearish on weekly and daily, expected sell off to $7300 and probably drop below $7000 in this week.
The highest upside target is $7950 which would be a great place to add to short positions.
Invalidation zone is still weekly resistance $8200. Close above will invalidate bearishness.
Looking at the weekly candlestick that fully engulfed two weeks before and made bearish close below $8200, not only that we think $7300 will be reached but most likely we will enter below $7000 aiming for next weekly support at $6400.
On the daily time frame, close below the previous close, MA cross are two signs that confirm weekly bearishness.
So there is the possibility of testing wick on weekly time frame (7950) but higher than that is not likely to happen in our opinion. If that is questionable.
On weekly, we close just below 0.236 Fibonacci level so we are still too high and overextended and have a lot of room to drop.
Main weekly support: 6400
Main monthly support: 4800
Main Fibonacci level (0.618): 5400
Even if we see a dump below $7000 and maybe even $6000, that is not something that should scare you. I already see the whole market panicking about bitcoin losing 6k floor again but it would be nothing but a perfect retest of monthly support and main Fibonacci level.
I just want to prepare you for the things that may happen so you stay aware of the opportunity you will have. At 9k, everyone wanted that they bought at 6k. When 6k happens, no one will think of buying it.
Don’t be one of them, stay calm and patient, focus on technicals and as long as support holds, buying makes a lot of sense.
To conclude, bearish on weekly and daily, expected sell off to $7300 and probably drop below $7000 in this week.
The highest upside target is $7950 which would be a great place to add to short positions.
Invalidation zone is still weekly resistance $8200. Close above will invalidate bearishness.