Bitcoin Weekly Ultra-Bearish

3 hari lalu

The 100K support is still valid but the weekly timeframe chart isn't looking good.

Good afternoon my fellow Cryptocurrency trader, how are you feeling today?

Bitcoin peaked the week 19-May. Then we have bearish action only.
The week after 19-May was red, then two neutral weeks and a continuation this week. It looks pretty bad right now, terrible to be honest.

» The main support range sits between $82,500 and $88,888.

Thank you for reading.

This support zone will only become active is 100K breaks on the weekly timeframe.

Namaste.

kelmarin

Nota

100K has been challenged for the first time ever. We wait for the daily and weekly close for more information.
Depending on how these two close today we can tell how far down Bitcoin is going. A recovery can also happen fast, we have to wait and see.

kelmarin

Nota

The first support is $97,650.

Second support is $93,250.

The third one is the main support range I mentioned above.

Namaste.

kelmarin

Dagangan aktif

I am seeing altcoins producing very strong bullish action. This can be taken as a signal. It might mean that Bitcoin will not crash below 90K. It might mean that what you are seeing is all there is, that is, Bitcoin will recover right away.

I am still waiting for the daily and weekly close for a full update but this is something to consider.

Here are two examples:

kelmarin

Nota

Fun Token is another example.

These altcoins do not break bullish right before a major bear market... This might be the final flush for Bitcoin.
Stay alert.

kelmarin

Nota

The 4H RSI hit oversold briefly and is now back in good shape. A hidden bullish divergence appeared with this indicator...

I will call it early; the retrace is over!

I will share a full update as soon as the day closes. This is only 15 minutes away.
Day and week.

Thanks a lot for your continued support.

Namaste.

kelmarin

Nota

I did the update as promised.

» Bitcoin daily

» Bitcoin weekly

19 jam lalu

Dagangan ditutup: sasaran tercapai

Bitcoin is back in its neutral range

Right now it is the best time to ignore Bitcoin and focus on the altcoins. It has been months and Bitcoin continues sideways. The trading range remains $100,000 - $110,000. While Bitcoin consolidates bullish at this range, the smaller altcoins can grow really strong.

The maximum such a consolidation phase can last is about 90 days, 3 months. So far Bitcoin has been in this range since 8-May, 47 days.

The market is in no hurry to go down or to go up. We know for sure that Bitcoin will end up producing an advance, a bullish move, once the consolidation is over because the altcoins are all recovering from a major low. If Bitcoin was set to breakdown bearish after months of sideways, the altcoins would be crashing all the way. The fact that so many projects continue to move forward while gaining in bullish momentum, reveals the bulls have the upper-hand.

Bitcoin will continue growing, long-term.

Namaste.