chungdha

chungdha

Weekly Stoch RSI is still very bearish and need to wait till it hits the bottom till we can really say we are bullish again. Have two supports for next legs down it all depends one fud and news how hard we are gonna go down. If we have a slow soft dump we might hit bottom around 11-12k, but if some major event causes a hard dump, we might see go well beyond that...

chungdha

So what I am thinking to look at the weekly EMA of 20 EMA and 100 EMA and when they cross, it actually marks the bottom of the bear market. In 2018 when those two crossed it was actually right at the bottom and after saw a big recovery up from there. Looking at Fibs we should be heading to 13.6k as absolute bottom, but I wouldn't try to buy up absolute bottom as...

chungdha

Have drawn blue lines the correlated to any of the previous supports that BTC still have, yellow is now the current down channel BTC is in. My own strategy now is using Stochastic RSI indicator on daily which shows where major bottom and tops of this down channel is. So when Stochastic RSI gets very close to the bottom, then I set a buy order at the closest blue...

chungdha

I think it might be setting up a large head and shoulder or and large widening wedge. We heading to 17-20k and then mid 2022 head back to 70k before another dip to setup the shoulder before heading further up. As notice previous dips setup a support in a particular angle to build up this widening wedge No financial advice just a guess.

chungdha

I notice in the weekly RSI it got a repeated pattern, we might have another blackswan even like March 2020 soon, and after the dump have a big push upwards. So coming few weeks be very important to keep eye on this as I believe we will have few more weeks of bearish action from looking at this.

chungdha Updated 

This is what I notice already for a while, but todays huge dump down make me feel this is highly possible we are in a big channel down making a big flag for a big up after. And daily EMA not going to cross into a golden cross. Am gonna hold out on buying in september as also Stoch RSI on the weekly has touched the top before we had this big dump so more big dumps...

chungdha

From the current limit orders I can see orders going to 52k, but not see go beyond that. The similarities between januari to april seem to have an overlapping movement but in a smaller scale. As it seem we wont have a blow off top to 56-57k and its been cut short, we likely go to 52k or 50k still but it wont hold for a long period and will be a big dump either to...

chungdha

From where we started to move up again, we started same spot as february from around 29-30k. So very likely we are going to head up to 57K and drop down to 43k same as february as it is playing out the same range and also going up elliot wave pattern to the same height, as I was drawing out the elliot wave first and then zoomed out and saw it was the same as...

chungdha

Notice we are bouncing down now from the same resistance we ran up against from the top, plus on the Cipher indicator we already hit a major selling point. Right now I doubt we will go back up any time soon and already started on the course going down, but we might not go as much down as before. Buying range I would say between 32000-35000 as current those are...

chungdha

You might have heard tons of different talks about different spots being the bottom of BTC, but proper use of FIBs will show you where the supports and target could be. The main important number now is the 0.618 where we could see if it break through it, then we can expect more down movements, but if it bounce or hovers above it and get an upmove from there. My...

chungdha

If following the Elliot Wave Theory of ABC down 0-A = BC length so the next down move should be same down as the first down move. Which is going to be quite a drop if it is the same distance. 1. 275 USD traget will be the most extreme case while moving down and there kind of is a downwards channel it does fit into. 2. However while it was moving down it did set...

chungdha

1. If we are in an ABC down with AB and BC leg being equal lenght we will be looking at a possible 10K target, it might sound like an extreme drop from our current price which is about a 71% further drop, which is a worse or best case depending how you look at it , if you have sold and want a big discount. 2. Pendant theory the other target right now is at...

chungdha

Right now there seem to be a lot of lines showing to go to 19.5 - 20k I wouldn't buy in any moment the candle are at the resistance and only when it more at the supports or wait till we are about 20k to buy back in.

chungdha

Right now we are at a point we could either go down lower or we have bottomed out, if we go up we must pass 42k to get pass the resistance if we see a bounce down and hit the resistance wall you need to sell otherwise it will still dip more, most likely further dip will be around 35K as on the 4 hours RSI shows we can still move down, but on the daily RSI we are...

chungdha

Next move for BTC is moving sideways and up a to 50k, however there is a resistance and if we don't where it we might be going even lower, as there are several people showing Wynckoff Theory showing we might be heading to 28k correction before we are moving up.

chungdha

There is a noticeable support line moving down each deep flash crash and following that we can predict it could be about 3250 be the bottom and more safer place for a buy trigger be 3300 so be sure it be triggered and after this dip we should be going up with BTC getting pumped up.

chungdha

Signal showing for the next dip down possible to 42000 and possible lower and that be the final dip finishing ABC correction

chungdha

BTC heading down we are just at the beginning of the final leg of the ABC correction. Once we done the C down we can see some massive up moves. That is why on certain alt also is very visible rolling over moving downish, however some might be able to recover quicker than others, so make sure holding te one that does. We either move to 52K for slight correction...