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Thread: Bitcoin Analysis

  1. #376
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    BTC/USD

    From Monday’s high at $11843 the price of Bitcoin has decreased by 2.64% measured to today’s low at $11530. This is still a higher low compared to the low point made last Saturday, August 22nd from where we have seen the start of recovery which lead to the higher high made on Monday and is currently again in an upward trajectory sitting at $11653.



    Looking at the hourly chart, we can see that the price is again back above the pivot point that was the ending point of the first sub-wave of the previous upward move, now validated as the wave A from the ABC correction count to the upside. As you can see the price hasn’t made the 5th wave out of the lower degree count before starting to move to my projected level in the bearish scenario I pointed out last week which is the ascending support from the range in which the price has been correcting since the 2nd of August.

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    BTC/USD

    From last Thursday when the price of Bitcoin fell down to around $11200 level which was the lowest price has been since the 12th of August, we have seen an increase of 6.83% as the price came up to $11967 at its highest point today at which its currently being traded. The price is in an upward trajectory and is showing strong bullish momentum.



    On the hourly chart, you can see that the price broke out from the major horizontal resistance points and isn’t showing any signs of struggle with the last rise from today’s low at $11551 being parabolic. With the price making a higher high compared to the previous B wave of the lower degree ABC correction to the downside we are most likely seeing the beginning of the higher degree upside move after the WXY correction ended last week.

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  3. #378
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    BTC/USD

    Since the start of the week, we have seen the price of Bitcoin increasing to $10950 area which was its highest point yesterday. But since then the price made a decrease of 2.74% and fell to $10685 at its lowest point. Currently, we are seeing the price in an upward trajectory and being traded at $10793 with it looking like the increase is likely to continue.



    On the hourly chart, you can see that from last week’s Thursday when the price came down to $10240 level and even spiked further down, we have seen bullish price action with the price coming up by around 7% measured to the yesterday’s high. As it came up to retest the previous lower degree horizontal level that served as support but was broken on the 21st of September it made an ascending triangle. Yesterday’s high could be considered as a fakeout with the price attempting to break its resistance level but a slight move above it pushed the price impulsively to its support level immediately after.

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    BTC/USD

    The price of Bitcoin has been increasing since last Thursday when it was sitting at $10539.2 and from there reached $11742 at its highest yesterday which was an increase of 11.42%. From yesterday’s high the price pulled back by 2.6% and is currently being traded at around $11500 level.



    On the hourly chart, we can see that last Thursday a breakout was made from the symmetrical triangle in which it was since the yearly high was made and the bullish momentum pushed the price above two significant horizontal levels at $11138.5 and the next one at $11428.3. The upper significant horizontal level correlates with the 0.618 Fibonacci one that is currently being tested for support.

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    BTC/USD

    The price of Bitcoin has been increasing from last Friday when it was sitting around $11221 at its lowest and reached $11847 at its highest today which is an appreciation of 5.58%. Currently, we have seen a minor pullback but the price is still in an upward trajectory indicating strong bullish momentum.



    On the hourly chart, you can see that a breakout was been made above the prior high made last week on Monday and the price is now retesting its levels for support. This minor pullback is likely the 4th wave out of the lower degree impulse wave which is why another increase would be expected from here before a more significant one. That correlates with the current rest on the support level as the price is likely to finds support here.

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    BTC/USD

    From yesterday’s low at $12771 the price of Bitcoin has increased by around 5% as it reached slightly below $13400 where it’s currently being traded. The price is in an upward trajectory after some days of consolidating but as it was doing so in an ascending range this could be the continuation of that ascending structure.



    Looking at the hourly chart, you can see that the price of Bitcoin made a rise above the prior attempt for a breakout when the price came above the 1.272 Fibonacci level. As now we are seeing an impulsive move above the Fib level again it could be an early indication that a breakout to the upside is being made. On the other hand, there is still a possibility that the price is continuing to form its ascending channel as this move could end as a third interaction with its resistance level.

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    BTC/USD

    The price of Bitcoin has increased since yesterday’s low at $13206 to $13703 where it is currently being traded. This is a 4.16% recovery after the price fell from slightly above the $14000 level which was interacted with on Saturday. As the interaction ended as a rejection another pullback has been seen but again high at a higher low compared to the one made last Thursday which is still bullish.



    On the 4-hour chart, we can see that the interaction with the $14000 level was a retest of the last year’s highest point made on June 26th and was the second one. Since we have seen another failure for a breakout the price has started moving sideways but is still showing bullish signs with higher lows being made. Now that it made an interaction with the $13207 level spiking to the downside for its retest another upward movement has been seen, but it could be a corrective one. This is especially considering the descending trendline which is being formed and with whom we are currently seeing an interaction.

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    BTC/USD

    The price of Bitcoin has been moving sideways since last Friday when it came up to $15,977 at its highest point and from there fell to around $14,412 on Saturday. Since Saturday’s low, recovery has been made with the price reaching $15,860 on Monday but from there fell again to $14,850 area. Currently, it is being traded at $15,276 and is showing signs of weakness as it made an interaction with the descending trendline and found resistance there.



    On the hourly chart, you can see that this descending trendline is the resistance level from the triangle which has been forming since last Friday’s high with its support level being the uptrend line from the 4th of November.

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    BTC/USD

    The price of Bitcoin has been increasing since Sunday when it was sitting at $15764 and came up to $17084 today which is an increase of around 8.3%. The price is in an upward trajectory and is making new highs with every rise.



    Looking at the hourly chart, you can see that the price has made a higher high compared to the one made last Thursday which was the 3rd wave of the lower degree count from the impulse wave to the upside. This was another increase which is the ending wave of the higher degree count that started around the 3rd of November when the price broke out above last year’s high made on June 26th.

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    BTC/USD

    The price of Bitcoin has been decreasing since yesterday when it came up to $19787 at its highest point. Another spike to that level was made today after some sideways movement followed by a shart decline to $18059 at its lowest point today which was a decrease of 9.35%. Since then recovery has been made with the price currently being traded at $19407.



    On the hourly chart, we can see that the price made it past the upper horizontal level which labels the all-time high from December of 2017. A new all-time high was made effective as the price slightly exceeded its utmost upper level of 2017, but since it entered the seller’s territory we have seen strong pressure on the price, which was pushed it strongly to the downside.

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