Btc update, the 200 ma has moved down a bit is trading at $8900/$9086 zone depending on the exchange, there is also strong horizontal resistance and btc is currently forming a bearish divergence on 12h and 4 h, most likely retrace after hitting this zone.
$8400/$8450 should be the support or buy zone if we get a rejections of the $8900/$9086 zone, and a proper stop loss will be around $8150
Link/Usd, want of the projects with more potential in my opinion, showing a massive symmetrical triangle with hidden bull divergence on the RSI.
Short term target 1-2weeks: $3.3 with rebuy zone at the retest of the triangle around $2.7/2.8
Intermedia target 3 to 5 months: $9 to $11
Long term target: who the hell knows
Short term target 1-2weeks: $3.3 with rebuy zone at the retest of the triangle around $2.7/2.8
Intermedia target 3 to 5 months: $9 to $11
Long term target: who the hell knows
looking at the price action of bitcoin, seems like the next target will be $9800/$10.300 during the next week.
Bitcoin Wizard
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I've been waiting for a retracement to $8400/$8450, this could still happen, if it happens doesn't mean the trend is over, only closing below $8200 will be bearish
12h hidden bull divergence and good reaction at support ($8470), expecting $9600 next could play out slow and take few days but is bullish.
bigger picture on bitcoin, possible inverted head and shoulder under formation, looks well defined so far, $9700/10.300 I will update this idea
same view nothing has changed, bullish on monthly, weekly, daily, and the 4 h chart just formed a continuation falling wedge, target $9600/$9800, nice buy oportunity now, low risk the stop loss should be below $8200 - ($8150 or $8100)
watch for a potential top $9600/$9800 between Jan 31 and february 3
I would say 80% chance to top there and 20% to break above that level.
When this inverted head and shoulders will invalidate? If the price of bitcoin closes ABOVE $10.500 on a daily basis it will be a Buy signal (re entry), Notice that we could even see $10.200 and still be prime for a DROP to the Right shoulders around $8000
The inverted H&S will alse invalidateduring the formation of the right shoulder if we drop below $7700 and close a Daily candle down there
I would say 80% chance to top there and 20% to break above that level.
When this inverted head and shoulders will invalidate? If the price of bitcoin closes ABOVE $10.500 on a daily basis it will be a Buy signal (re entry), Notice that we could even see $10.200 and still be prime for a DROP to the Right shoulders around $8000
The inverted H&S will alse invalidateduring the formation of the right shoulder if we drop below $7700 and close a Daily candle down there
despite small retracement on a daily scale, bitcoin seems to be in a long term support, heading to 14k and eventually new highs, but this can take many months