Bitcoin (BTC) analysis thread

momo3HC

Active member
137 40
BTC 28062020_1.jpg

BTC 28062020_2.jpg

Hi all. A boring week for me even with almost $1000 from the bottom to the peak of the BTC price.
This week will be only a small update from the last one plus one bullish chart and opinion from Bloomberg. I`m expecting next week and end of the month for more conclusions.
Actual situation. (chart 1)
  • The price is still trying to breach the upside line but still can`t do it.
  • 10 EMA – the price almost perfectly bounced from it again this week and it`s back above (for now).
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – 9 weeks bullish signaling.
  • Weekly pivot point is $9259.78 – a similar scenario like the last week. Sorry to say it but seems like we`ll end this week below it which can lead to another negative week next week, and remember that almost In the middle of it will be the end of the month.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
A Bloomberg view. (chart 2)
According to Bloomberg, the narrowest ever bollinger bands suggest that Bitcoin is consolidating for a major breakout. In their opinion, Bitcoin is priming to break out of the upper resistance level of $13,000. At the same time, he says that it is critical that price does not fall below $6,500. For more perspective check their chart.

That`s all for now and let`s hope for a better end of the month than the actual one.
See ya next time.
 

sebking1986

Junior member
18 5
Great analysis as always. Sitting on my hands for now
 
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momo3HC

Active member
137 40
BTC 05072020_1.jpg

BTC 05072020_2.png

Hi all. A boring week again.
This week i`m going a bit long-term again with 2 charts again.

Can the history be repeated? (chart 1)
It`s not 100% sure that the history be repeated but since now it looks like it`s happening even with some little differences but they`re insignificant. I`ll not say much more and will let you to think about this pattern.

Bitcoin Puell multiple. (chart 2)
This is something really interesting too. Thanks to Glassnode and their Puell multiple (PM) chart we can see a never failed since now bullish signal and even more. We saw this signal in the past is 100% right and now it`s even confirmed cuz the PM line went down to the green zone, then went up out of it, then back down but it bounced almost at the border and went back up. You can check this chart on their site.

Actual PA situation:
  • The price is still trying to breach the upside line but still can`t do it.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 10 weeks bullish signaling.
  • Weekly pivot point is $9249.13 – a similar scenario like the last two weeks. Sorry to say it again but seems like we`ll end this week below it which can lead to another negative (3rd) week next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.

That`s all for now.
See ya next time.
 
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pezza55

Junior member
18 4
View attachment 283083
View attachment 283084
Hi all. A boring week again.
This week i`m going a bit long-term again with 2 charts again.

Can the history be repeated? (chart 1)
It`s not 100% sure that the history be repeated but since now it looks like it`s happening even with some little differences but they`re insignificant. I`ll not say much more and will let you to think about this pattern.

Bitcoin Puell multiple. (chart 2)
This is something really interesting too. Thanks to Glassnode and their Puell multiple (PM) chart we can see a never failed since now bullish signal and even more. We saw this signal in the past is 100% right and now it`s even confirmed cuz the PM line went down to the green zone, then went up out of it, then back down but it bounced almost at the border and went back up. You can check this chart on their site.

Actual PA situation:
  • The price is still trying to breach the upside line but still can`t do it.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 10 weeks bullish signaling.
  • Weekly pivot point is $9249.13 – a similar scenario like the last two weeks. Sorry to say it again but seems like we`ll end this week below it which can lead to another negative (3rd) week next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.

That`s all for now.
See ya next time.
Not sure history will do it again. dont see the hype behind bitcoin on the rally side at the moment. to many people looking to get in at a lower price. great read tho
 

momo3HC

Active member
137 40
BTC 11072020_1.jpg

BTC 11072020_2.jpg

Hi all. A bit more interesting week but nothing special.
Last week we`ve talked about history and can the it be repeated. This week i`ll continue with a 2in1 chart.
It`s simple enough and It`s all about Golden crosses (GC) and Death crosses (DC). I`m comparing the 2015 PA and GC/DC to the nowadays one. The GC are green circles and the DC are red ones. If someone don`t know what this crosses means – google it. Also If someone of you don`t know what happened after the end of 2015 lets check the charts. Till now the situation is 1:1 to the 2015, which is very interesting and let`s see how it will continue.

Actual PA situation:
  • The price is still trying to breach the upside line and now it`s a bit higher than it but nothing significant.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 11 weeks bullish signaling.
  • Weekly pivot point is $9093.94 – there`s good signs that we`ll close the week above it, which will be very positive for the next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
For now, the next week material will be close to this but a bit more interesting and promising, if something significant does not happen.
That`s all for now.
See ya next time.
 
  • Like
Reactions: pezza55

pezza55

Junior member
18 4
View attachment 283551
View attachment 283552
Hi all. A bit more interesting week but nothing special.
Last week we`ve talked about history and can the it be repeated. This week i`ll continue with a 2in1 chart.
It`s simple enough and It`s all about Golden crosses (GC) and Death crosses (DC). I`m comparing the 2015 PA and GC/DC to the nowadays one. The GC are green circles and the DC are red ones. If someone don`t know what this crosses means – google it. Also If someone of you don`t know what happened after the end of 2015 lets check the charts. Till now the situation is 1:1 to the 2015, which is very interesting and let`s see how it will continue.

Actual PA situation:
  • The price is still trying to breach the upside line and now it`s a bit higher than it but nothing significant.
  • 10 EMA – the price is perfectly bouncing from it again.
  • 21 EMA - the price is still above it even without a touch of it.
  • Correlation between 10 and 21 EMA – Despite the Corona drop every time when the 10 EMA is above the 21 EMA and the price is above both we can predict a very good bull period.
  • Parabolic SAR – Another bullish week and there`s 11 weeks bullish signaling.
  • Weekly pivot point is $9093.94 – there`s good signs that we`ll close the week above it, which will be very positive for the next week.
  • Support and resistance:
  • Support:
  • 1st support - $8500 - 50% Fibo and VPVR profile
  • 2nd support - $7800
  • Resistance:
  • 1st resistance - $9500-9800
  • 2nd resistance - $10500 – that will be a MAJOR resistance not only for the mid-term but also in a long-term, on the way to the next ATH like mentioned above.
For now, the next week material will be close to this but a bit more interesting and promising, if something significant does not happen.
That`s all for now.
See ya next time.
To be honest i feel currently Bitcoin is exhausted its bull run move., we will see consolidation and a push up higher but between the 10k-11k mark then consolidation again, Don’t see it pushing any where as near as predicted any time soon
 
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