Bitcoin / US Dollar : trading near its swing highBitcoin's previous swing high was at 13880. For fresh buying it is only recommended when it breaches this level and retests.
Momentum is very strong but if BO comes it might not sustain much as it requires some consolidation to breach such resistance.
Note : This idea is for only educational purpose. Dont make any position based on this analysis.
Bitcoinusd
Our Bitcoin Intraday Setup.Bitcoin - Intraday
We look to Sell a break of 11227 (stop at 11336)
Previous resistance, now becomes support at 11300. 50-hour EMA is at 11360. A break of yesterdays low would confirm bearish momentum. Short term bias is mildly bearish. We look for a temporary move lower. The bias is to break to the downside.
Our profit targets will be 10948 and 10852
Resistance: 11420 / 11580 / 11700
Support: 11310 / 11250 / 11100
The Falling Wedge Proves Itself Again | Bitcoin In my previous analysis I talked about The falling channel Bitcoin was in. However when I took another look at it, it looked more like a falling wedge. This does not make any difference in the outcome of the price but this shows that TA can be subjective. But that is not what I wanted to talk about.
Falling wedges and channels are my favorite bullish trade setups for any asset and it shows again. The setup is as follows:
1: We spot a falling wedge or channel preferibly on the daily timeframe or higher.
2: The price start going sideways at the bottom of the channel or wedge. This is where you want to buy. Look for a bullish divergence on the rsi on the hourly or maybe even the 15 min chart for an even better setup.
3: Set a stop-loss in case the price breaks support.
4: ?
5: profit
On this chart we can see 2 horizontal white lines above the current price. These are the price targets for this setup.
BTCUSD Update: Profit=340900 SL=78800 Reward/Risk > 4.3:1Trade Setup summary:
Profit targets=340900 pip (28000 + 56500 + 91400 + 165000)
Stop Loss =78800 pip
Reward/Risk > 4.3 : 1
Current Status:
Total Profit: 177537 pip
Closed trade(s): 100337 pip Profit
Open trade(s): 77200 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 11367.21 based on 'previous Forecast' at 2020.07.31 :
Closed Profit:
TP1 @ 11420.0 touched at 2020.08.01 with 5279 pip Profit.
TP2 @ 11700.0 touched at 2020.08.01 with 33279 pip Profit.
TP3 @ 11985.0 touched at 2020.08.01 with 61779 pip Profit.
5279 + 33279 + 61779 = 100337
Open Profit:
Profit for one trade is 1153.21(current price) - 11367.21(open price) = 38600 pip
2 trade(s) still open, therefore total profit for open trade(s) is 38600 x 2 = 77200 pip
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 64.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (11420.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
New Take Profits:
TP2= @ 11700.0
TP3= @ 11985.0
TP4= @ 12334.0
TP5= @ 13070.0
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BTCUSD Update: Profit=340900 SL=78800 Reward/Risk > 4.3:1 Trade Setup summary:
Profit targets=340900 pip (28000 + 56500 + 91400 + 165000)
Stop Loss =78800 pip
Reward/Risk > 4.3 : 1
Current Status:
Total Profit: 111758 pip
Closed trade(s): 38558 pip Profit
Open trade(s): 73200 pip Profit
Trade Setup:
We opened 5 BUY trade(s) @ 11367.21 based on 'previous Forecast' at 2020.07.31 :
Closed Profit:
TP1 @ 11420.0 touched at 2020.08.01 with 5279 pip Profit.
TP2 @ 11700.0 touched at 2020.08.01 with 33279 pip Profit.
5279 + 33279 = 38558
Open Profit:
Profit for one trade is 11611.21(current price) - 11367.21(open price) = 24400 pip
3 trade(s) still open, therefore total profit for open trade(s) is 24400 x 3 = 73200 pip
Break Even 11223.00
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 69.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (11420.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP2= @ 11700.0
TP3= @ 11985.0
TP4= @ 12334.0
TP5= @ 13070.0
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BITCOIN Most shocking but most realistic price prediction ever Hi there as you can see this chart and clearly see past history easily.
You can see deminising returns on btc also I want to catch your attention on bear cycle and bull cycle which is lengthening 2.5 to 3 times every cycle.
Red box is our bear market and green box is our bull market marked on data available from 2010. You can see and identify Using this chart that we can still in accumulation phase or bear phase for 1 year more.
BTCUSD Update: Profit=622900 SL=94000 Reward/Risk > 6.6:1 Trade Setup summary:
Profit targets=622900 pip (56400 + 84400 + 112900 + 147800 + 221400)
Stop Loss =94000 pip
Reward/Risk > 6.6 : 1
Current Status:
Total Profit: 272400 pip
Closed trade(s): 272400 pip Profit
Open trade(s): 0 pip Profit
Trade Setup:
We opened 6 BUY trade(s) @ 9212.00 based on 'previous Forecast' at 2020.07.15 :
Closed Profit:
TP1 @ 9285.00 touched at 2020.07.21 with 7300 pip Profit.
TP2 @ 9384.00 touched at 2020.07.21 with 17200 pip Profit.
TP3 @ 9475.00 touched at 2020.07.22 with 26300 pip Profit.
TP4 @ 9712.00 touched at 2020.07.25 with 50000 pip Profit.
TP5 @ 9900.00 touched at 2020.07.26 with 68800 pip Profit.
TP6 @ 10240.0 touched at 2020.07.26 with 102800 pip Profit.
7300 + 17200 + 26300 + 50000 + 68800 + 102800 = 272400
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 65.
New Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (10856.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= @ 11420.0
TP2= @ 11700.0
TP3= @ 11985.0
TP4= @ 12334.0
TP5= @ 13070.0
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BTCUSD Update: Profit=373800 SL=81600 Reward/Risk > 4.6 : 1Trade Setup summary:
Profit targets=373800 pip (24200 + 34100 + 43200 + 66900 + 85700 + 119700)
Stop Loss =81600 pip
Reward/Risk > 4.6 : 1
Current Status:
Total Profit: 70348 pip
Closed trade(s): 24500 pip Profit
Open trade(s): 45848 pip Profit
Trade Setup:
We opened 6 BUY trade(s) @ 9212.00 based on 'previous Forecast' at 2020.07.15 :
Closed Profit:
TP1 @ 9285.0 touched at 2020.07.21 with 7300 pip Profit.
TP2 @ 9384.0 touched at 2020.07.21 with 17200 pip Profit.
7300 + 17200 = 24500
Open Profit:
Profit for one trade is 9326.62(current price) - 9212.00(open price) = 11462 pip
4 trade(s) still open, therefore total profit for open trade(s) is 11462 x 4 = 45848 pip
Break Even 0.658
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 59.
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (9220.00) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP1= @ 9285.00
TP2= @ 9384.00
TP3= @ 9475.00
TP4= @ 9712.00
TP5= @ 9900.00
TP6= @ 10240.0
SL= Break below S2
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Don't miss the great buy opportunity in BTCUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (9322.8). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 51.
Take Profits:
TP1= @ 9597.0
TP2= @ 9719.0
TP3= @ 9840.0
TP4= @ 10009.0
TP5= @ 10424.0
SL= Break below S2
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ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in BTCUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (8953.78). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 73.
Take Profits:
TP1= @ 9275.30
TP2= @ 9485.85
TP3= @ 10028.85
SL= Break below S2
Bitcoin Halving 2020 - Current Setup before the eventThis is a comprehensive overview of Bitcoin behaviour prior & after it's first 2 halving phases.
Currently it's has formed a Triangle / Pennant pattern & seen to have taken support over its weekly 200 moving average .
Let's see what's in store for it.
Don't miss the great buy opportunity in BTCUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (9159.3). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. BTCUSD is in a uptrend and the Continuation of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 80.
Take Profits:
TP1= @ 10505.20
TP2= @ 12138.65
TP3= @ 13869.90
SL= Break below S2
perfectly following triangle pattern , now sitting on supporttriangle pattern is perfectly being followed by price action , now price is sitting on weekly support , a strong support to bounce from . lets wait & watch for today closing , if today's candle close is below 7900 exit or else long it from 7950 with stop of 7900 for a target of 8600 .
perfectly following the long drawn triangle on weekly chart weekly charts says it all, perfectly respecting the upper trendline , price got deflected & now standing on 50 MA on weekly , next week would be decisive , break & closing of next week candle below 8500 will bring fall till 6900 , or if it bounces back it wouldnt go beyong 9500 (perfect spot to short again) .