BTCUSD to test 20-ma weekly

30 sty 2019

BTC is set to test the 20-ma weekly in the upcoming month/weeks. This moving average is lined up at the moment around $4500. The longer BTC takes to reach the 20-ma weekly the lower becomes the target. After noticing the weakness showed by BTC above 4k, I believe it needed another push or a re-test of the 200-ma weekly. While BTC did not perfectly touch the moving average for a matter of $30, it received a good bounce to sustain a rally forward to the 20-ma weekly. Indicators are in the oversold region, leaving quite some space for the next leg up. Also, the pattern has formed a falling wedge with good chances of breaking-out on the upper side. Volume has been descending during this bullish wedge which adds credibility of a breakout. I will keep posting updates as we go forward. Please make sure to check out my previous posts, click like and follow!

31 sty 2019

Uwaga

Volume is not looking so good for this small rally today. Overall, a another test of the 200-ma weekly ($3285) or the 50-ma monthly ($3040) is still possible before the big rally up toward the 20-ma weekly ($4400 at the moment).

1 lut 2019

Uwaga

Everything seems bullish, however this is a possible bearish break of the current price action



If it does break down, then the target is right about where the 200-ma weekly is located ($3290). If the weekly candle closes right there, that could be a good area for a big bounce.

2 lut 2019

Uwaga

Wedge broke down as expected but BTC found support at $3421. I think we should go up to $3540 now, however if we don’t break that resistance quick it should break down again and probably test the lower support of the falling wedge. Too early to tell. If $3540 break, then we should expect a strong rally to the upside.

5 lut 2019

Uwaga

This is what I have in mind. One more leg down the breakout from the falling wedge. Breakout will be invalidated if we price dives below $3240. However, if we see a bounce around or above there, the we could expect a breakout to the upside soon after.