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Bitcoin-btcusd

Bitcoin looks choppyI have chosen this ABCDE triangle wave as my primary count on the daily time frame, which also looks like an ascending wedge pattern wise. Ascending wedges are usually a bearish reversal pattern but can be used within a larger movement. So, technically my downside targets are near the wedge bottom ( USD 3100-3200 level) , where it'll be crucial to watch if the support holds or not. But , my current play on the shorter frame is long position with targets around USD 4350-4400 levels, where my E for this potential ABCDE ends. Although , its a riskier trade but I have a tight SL if the wedge breakdown is in play from right this point onwards. There's no such thing as being sure in the markets. Wedges can break from the upside too and that would be considered as very bullish. In that case, i'll spread my asks in USD 4900-5200 ranges with a tight SL. Still i ain't dreaming of such miracles atm . Count wise i'm banking on a small wave down after this potential ABCDE towards USD 3000 level , which might give us a small Y of a larger WXY down. This is my bullish scenario ofc. My Bearish case would put it around USD 1500 levels before the end of this correction.
KRAKEN:BTCUSDLong
by XtinCt
Bitcoin Price Action BULLISH +Altcoins Market Update -MOST READ!Good Day LOVE... And it is... (Note: This is the analysis that I shared before Bitcoins breakout) Hit LIKE and we start with some phrases coming out of the money people in this reality... And these people have lots of money; let's see what they have to say to newcomers like us (crypto-traders): "Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell." - Sir John Templeton "If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes." - Warren Buffet "Our favorite holding period is forever." - Warren Buffet (Good thing we agree with Mr. Buffet). And one more... "It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." - George Soros "Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." - George Soros Market corrections, although they can be hard for many, specially beginners like us, are actually very healthy if you believe in the future of Bitcoin and Cryptocurrency... Why? Because we have to get rid of speculators and weak hands so that our market can keep on growing. So it can be painful now, but trust that growth is on its way... Namaste. NOW!... Let's to get started with this Bitcoin analysis. Bitcoin ( BTCUSD ) is looking at a falling wedge , we have good chance to break up but certain conditions need to be met first; we need a strong breakout and to start a close above EMA10 (green line). I say we have good chances because many bullish signals are starting to build up... So let's take a look at those. BTCUSD Bullish Signals Showing Up on the chart Decreasing momentum from the bears. Bullish divergence showing up on the MACD. Strong decrease in trading volume . RSI as oversold as it can get. (I once mentioned that Bitcoin would reverse when the RSI hit oversold... Oversold can be 15, 20, 25... But for Bitcoin this is beyond... take a look at the RSI and notice that it is the lowest that it has gone. This doesn't mean that the bear market is over, but it is surely a signal that we are really, really close - this is what I meant by oversold ). We have a 'falling wedge' pattern which is bullish . We might break this pattern "passively", sideways, before the move up... Our main resistance is the wedge trendline as well as EMA10 which hasn't been touched in the past two weeks... I haven't personally seen Bitcoin this depressed since 2014. But just as you have seen on TV, the quote goes as follow, and it is true... "Buy on fear, sell on greed." Chart & Price Action ( BTCUSD ) We find resistance on red rectangles, and yes, we find support on green. If you are on the bull side, you want a break of the falling wedge followed by EMA10 in order to start a meaningful move up. While if you are a bear, you would want a break of $3215 in order to continue this bear run. We also need to consider the possibility of some sideways action in the next few days... Since these markets are highly manipulated (like all markets) then all the signals can easily break, yet we have some really strong bear action, a relief rally is on its way. And what about the LONGS and SHORTS? Even though LONGS are increasing massively, 34% in the past two weeks, we have SHORTS near All Time High it is very likely they are about to get squeezed. (76% up since October) You know how our very simple strategy works... We get to buy low near the bottom, in order to sell high when the price goes up. It is no good idea to SHORT an altcoin/asset when the price is near a very strong support. Since Bitcoin has deprecated massively, the wiser choice is to go LONG. Continue reading below as this article goes on...
BITFINEX:BTCUSDEducation
by AlanSantana
Struggle of 6000.0 Again?There is a neckline of irregular head & shoulders of the daily scale. The place is 6000. daily Looking at daily, the raise after the neckline 6000 touch is not strong. It retries again to 6000, and if it fails it is long trader dominance, but if it reaches around 6000.0 it is considered to be a short continuation. Most recently, MPP (P) 6641.8 is not functioning, so I'd like to think about trade by attracting it to either up or down. << tactics >> 1-1) It got up and reached around 7000. It acted as a resistance short. The first limit is on WePP (P) 6607.1 The second limit is on WePP (S1) 6374.9 1-2) It got up and reached around 7000. It is doubtful whether it acted as a resistance I will start considering the long. 2-1) Although it decreased, it came back without reaching near 6000 We will observe it because there is a possibility that it will range or be rebounding. 3-1) It fell, it reached around 6000. It served as a support. I do not long because I'm thinking about shorting. I will observe. 3-2) Go down, penetrate 6000 down. It then acted as a resistance line. short. First limit is on WePP (S3) 5818.5 The second limit is MPP (S1) 5504.7 3-3) go down, penetrate 6000 down. It plummeted as it was. Observe until a line acting as a resistance is found. I would be grateful if you like it idea,give me follow or agrees! ------------------------- -------------------------- Brown thick line: Yearly Pivot Points (YPP in the text) Light blue thick line: Monthly Pivot Points (MPP in the text) Green thin line: Weekly Pivot Points (WePP in the text) Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily Indigo dotted line: outstanding round number. Red curve: EMA 20 close Indigo curve: EMA 200 close Green curve: EMA 800 close Black curve: EMA 1600 close x mark: Line which may not function ------------------------- --------------------------
BITFINEX:BTCUSDShort
by fondiea
Bitcoin in a critical rangeHey guys, It looks like bitcoin is inside an ascending channel - which is bearish. Looking at the recent past, see how both patterns (ascending channel and rising wedge) played out as expected - bearish. Following are the key levels to watch for: a. For Bulls : A break above 6855 would be very bullish if we can hold that level. b. For Bears: Bears would face following support levels: i. 6425 - 6430 : Bitcoin has bounced 3 times from this support in recent past (4 hour chart). ii. 6263 iii.If the above 2 levels are broken, the next level to be watching for would be 5700-5800. Please do your own research and share your views about the analysis. Love from your friend. ;)
COINBASE:BTCUSD
by cryptonitin
Is the set sequence of downtrend applied?The rate once went back through the double zero 6000.0. Currently it is a situation to receive resistance at around MPP (S1) 6353.9. Judging that it is a down trend, if you apply the set sequence, I'd like to have a short position well. <> 1) Resistance MPP (S1) was judged to work. Short entry. The limit is above double zero 6000.0. Or if you assume double zero 6000.0 penetration, it is above the nearest low of 5800.0. 2) it can not be judge that it is functioning, or penetrate above MPP(S1). As long as the intention to lower the price move is seen, I do not do long entry. I will observe. I would be grateful if you like it idea,give me follow or agrees! ------------------------- -------------------------- Brown thick line: Yearly Pivot Points (YPP in the text) Light blue thick line: Monthly Pivot Points (MPP in the text) Green thin line: Weekly Pivot Points (WePP in the text) Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily Indigo dotted line: outstanding double zero Red curve: EMA 20 close Indigo curve: EMA 200 close Green curve: EMA 800 close Black curve: EMA 1600 close x mark: Line which may not function ------------------------- --------------------------
BITFINEX:BTCUSDShort
by fondiea