Topic: Where Do We Go From Here - Technical Thoughts on BTC Price - page 2. (Read 3324 times)
By zooming the chart time-frame out to a weekly instead of daily you get a great visual sense of the period of super price exuberance from end of last year and the pullback into solid support and basing around $500 which is now turning into the foundations for another possible movement back towards all time highs. This is a great looking chart from a technical analyst point of view.
The short, medium and long-term trends are all up now!
Flip a coin and you will know which way is next?
We will stay above $450 (which means the next move could be in either direction) but could go "straight up" to $2,500 with several 'terrifying' corrections along the way.*
*No one knows for certain, which is part of why it's so exciting.
Flip a coin and you will know which way is next?
We will stay above $450 (which means the next move could be in either direction) but could go "straight up" to $2,500 with several 'terrifying' corrections along the way.*
*No one knows for certain, which is part of why it's so exciting.
Looks like 'For A Rally Continuing' wins out.
technically looking like a nice momentum build. Volume is increasing, daily chart shows a controlled advance then consolidate then advance pattern rather than an uncontrolled burst upwards. This is a better price movement as it is more likely to keep the trend positive. With any advance you want it to consolidate / pullback into support for the momentum to be able to refuel and continue. Great support now around $500 or so which is the broken resistance area plus key moving averages (50 / 200 day) confirming the move and support. Not saying it won't pull back, but technical signs are $700 is in range in the very near future.
technically looking like a nice momentum build. Volume is increasing, daily chart shows a controlled advance then consolidate then advance pattern rather than an uncontrolled burst upwards. This is a better price movement as it is more likely to keep the trend positive. With any advance you want it to consolidate / pullback into support for the momentum to be able to refuel and continue. Great support now around $500 or so which is the broken resistance area plus key moving averages (50 / 200 day) confirming the move and support. Not saying it won't pull back, but technical signs are $700 is in range in the very near future.
For a Rally Continuing:
Volume is up
Coming off a low volume basing period around $400
Trading above key averages
Against a Rally Continuing
Volume not up enough....yet
Price fell away from this level before in mid April (1 on chart)
Volume is up
Coming off a low volume basing period around $400
Trading above key averages
Against a Rally Continuing
Volume not up enough....yet
Price fell away from this level before in mid April (1 on chart)
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