Bitcoin In Consolidation – Will Bitcoin Break Bearish?



Check out the Cryptocurrency Technical Analysis Academy here: Bitcoin finds itself in a consolidation pattern. In this video we discuss if a …

20 Comments

  1. Hi Jebb, i think your triangle pattern is invalid. I see an upwards channel with perfectly parallel lines as support and resistance, with a higher high and a higher low. 3600 USDT is a perfectly valid bottom. There is huge volume in this area, greater than the volume around 6000 USDT. I realize that the majority of youtubers and traders do not see this, so thank fuck for smart money who will also see this and save the day. I also see a very smooth and consistent curved line of price action (from 6000 to 3600 usdt) having reached its bottom and now trending upwards.

  2. This is bearish wedge but it could go either way I would wait for conformation also note to watch the number of short positions if they go up a lot expect a 200.00 green candle to liquidate the shorts and then to break down towards 3k. Now I'm still new at this but from what I have been learning this is what I am watching for. All in all I think it will go down capitulation is not in yet.

  3. Right, things are very contradictory at the moment. On one hand looking at the weekly timeframe BTC has created a nice tweezer with at least 10% long wicks, indicating bullish reversal next week, also MACD looks quiet promising for buls. On the other hand, strong bearish action last week has brought us to where we are now with bearish market sentiment and fear of further downside. It looks like we might be in a classical bear flag currently (daily timeframe). So, very hard to say. However, I will probably enter a small long position with small leverage, tight stop loss and hope for the best! 🙂 Good luck my friends!

  4. if u saw that kind of inverse head and shoulder, how can u not see a head and shoulder if u draw a neckline from the 2018low to the price we currently have???????????????????????????

  5. You make a good argument.

    Lately TA people have been struggling to point to which direction BTC is going to go.

    What TA can't predict is what the whales are going to do. The market is thin enough they can move the market in either direction.

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