I was doing an analysis of the EMAs and I found multiple clues that are pointing to a price drop.
The most important factor right now to consider is that this week's peak is lower than last week, meaning a lower high.
The last volume bar is really strong and bigger than the previous six weeks. Pressure is coming from the sell/bear side.
In November and December 2019, EMA100 held as support, this lead to prices moving higher and peaking at $10,500 in February 2020.
Since this peak in February is a lower high compared to the peak hit back in June 2019, the next drop was sure to break EMA100 and it did... This drop took BTCUSD all the way down to $3850.
Now, Bitcoin prices are about to drop again but this time EMA100 isn't the relevant level, BTCUSD is aiming at MA200 (black line), based on the study of the behavior of BTCUSDs price around these lines (Moving Averages).
How Far Down Can Bitcoin Go?
Now, let's say that Bitcoin (BTCUSD) does drop, how far down do we think it can go?
Based on technicals, we remain bullish as long as prices are trading above EMA10/50, and prices are going up... On a break of EMA50 (Bitcoin moving and closing below $7800/$7900), we look for the $5800-$6200 price range first.
Only if this support range breaks down, $5800-$6200, we can see lower prices for Bitcoin.
My Personal Prediciton
To keep it simple, I believe that Bitcoin (BTCUSD) can easily break below $6,000 and go much lower on the next bearish wave, but, ultimately it will recover with massive force and strength.
Maybe I stood around these bears/bear market for way too long... But I was thinking as possible the low 3ks.
What's your take?
Share with us in the comments section below! Thanks a lot for your support.
Namaste.
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Bitcoin (4H Timeframe analysis)
Bitcoin (Daily Timeframe analysis)
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TOP Altcoins Results (Recent) Scroll down for the chart (click on the image and hit play to see the results)
---------- 🥇SNTBTC March +391% 🏆DGBBTC March +367% 🏆METBTC Feb. +354% 🏆MERBTC Dec. +342% 🏆CVTBTC March +277% 🏆XBTUSD March +252% 🏆SPCBTC April +244% 🏆SRNBTC Jan. +239% 🏆SXPBTC March +237% 🏆AEONBTC April +218% 🏆UBQBTC Jan. +166% 🏆TNTBTC March +152% 🏆MRPHBTC March +148% 🏆DRGNBTC April +137% 🏆MTLBTC March +137% 🏆LENDBTC April +117% ----------
Wow bro!!! On May 7th, you said BTC could jump to $15,000 before halving . on May 6th you said that if BTC moves above 9485, it will go up to 10400 and now. 5 days later you are calling below 6,000. Ok, if I understand right, the strategy is to say that BTC will go UP and also DOWN, give a specific price margin, and eventually BTC has to pass around that price so then you can say "see I told you, I was right". That's a very clever strategy, especially because people will forget that you probably also "predicted" the opposite happening at the same time.
AlanSantana
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@Successcor, Which one you think is valid now... The old article or this new one?
You need to read past the title, if you read the whole article you will understand.
If you read this article now... What's your take?
Are you still confused?
Can you make up your mind?
Will you add your own research or will you follow blindly a number/title written on 1 article?
You can complain all you want but the question still remains, are you making money?
Are you trading successfully?
Are you improving?
Are you producing the right results?
You can trust that we have a positive answer to all of those.
My method works... See the results.
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The analysis is here now, live now and you can choose to do with it whatever you want...
There is no need for up and down guessing, our trades are pretty straight forward and shared here and in our PREMIUM channels, this is not a trade nor financial advice.
If you cannot understand that the title of a post is only meant to attract your attention, the content/description is the important part... Then you need to keep practicing.
We are here to make money, you can trust that I and my supporters get this without a flaw.
As long as our trades are successful, people will continue to push me up to #1.
Namaste.
Successcor
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@alanmasters, Not complaining, of course, your method works because you are predicting the only two possible scenarios that we can have on trading "it will go up" and "it will go down" AT THE SAME TIME.
I make my own research, that's why I was able to realize what you are doing. If right now, BTC reaches 15000, you will completely ignore this post and say "See, I told you guys. 15,000"
I just think that you should be more consistent or at least take care of how you express your predictions. And if you are wrong in one or two of them, it's ok, you are human, no one is expecting perfection from you.
It's more respectable to say... "Unfortunately, after passing 9480 we didn't go directly to 10400, I forgot to mention the strong resistance at 10,000, but according to the analysis I think now we are going down to BLA BLA BLA" than acting like if you never said anything and come again with a bold prediction like "Now we are going to 6000 or below"
You did the same when the price was around 6800, you said the price will go down to 3,000 again, and when it started climbing you just changed the whole game like if you never said the other thing.
Again, I am not complaining, its positive criticism because I think users would follow you more if they see that you have no problem accepting when you made a mistake.
But, that's only my opinion and you have the right to completely ignore it. What do others think?
AlanSantana
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@Successcor, Trading, and charting is not the same thing.
If you read the article, you will notice that the 15k title article is just a prediction, the other 100 analysis all mentioning a "strong drop before halving" are chart/technical analysis.
The trades (buy-in, targets and stop-loss) are for trading, and the numbers never change, can't change and the trades are made public (you can see the results).
None of these articles are meant for you to trade.
You can use the information as an extra signal/tip that can help you either reject or support your bias, but this is definitely not financial advice.
You can always use your own method though... But obviously, you are not publishing... You are putting your energies here complaining, rather than focusing on yourself, your trading, your earnings, your growth.
I make mistakes all the time... It is part of who I am, it is an indispensable tool that I use for learning... Making mistakes.
But you should read the entire article, give yourself some goals, and finally... Start to trade.
If you were trading and making money, you wouldn't have time to come here and just complain.
Namaste.
Successcor
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@alanmasters, it was not only the 15,000 but it doesn't matter. You are the expert and dont take me wrong, I appreciate your work, I just wanted to point out something that probably bothers more than one. Halving is in a few hours. So, BTC is going down to 6000, is that right?
Also, this platform is called TradingView, not ChartingView. People following and checking your ideas, they do it because they will use the information to trade, not to chart. So, when you say that trade and chart are not the same things, it doesn't matter for the people who follow you. They are not thinking "oh this is not information for trading" just an opinion.