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Bitcoin Consolidation Leaning Towards The Bulls - 3 Pattern SignWe know we are at a crossroad and everybody is wondering what the conclusion will be; Bear (red) or Bull (green). Since the beginning of this year, I am of the view that Bitcoin will break upward giving us a small relief rally or "price bounce" as I call it. This would push prices up before any additional bear action takes place. Now, let's look at 3 bullish signals on the 4H timeframe: 1) V Bottom Pattern: This pattern forms at lows or support levels before a reversal. 2) Falling Wedge Pattern : This is the pattern we looked at yesterday, today we have a bullish breakout confirmation. 3) We have a strong bullish candle currently that pushed the RSI above 50 with prices closing above EMA10 and EMA21 . These are just three... We will look at it closer on the 1H timeframe next. Thank you for reading. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Looking Better, Falling Wedge Pattern + AltcoinsBitcoin is looking better and better, patience is key. We are looking at the 4H timeframe and we have a beautiful falling wedge pattern. We can see the current candle moving above the upper trendline of this pattern. (Confirmation only comes after candle closure one hour from now). There is potential to move higher. You can visit yesterday's trade ideas below for additional information. Altcoins Market Update I've been looking at some Altcoins, mainly ALTSBTC, and we have mixed charts, the opportunities need to be fished out. We have many Altcoins retracing short-term but still trading within higher lows and getting ready to turn. I would say it can take just a few days to a maximum of 2 weeks before we start seeing very decisive bullish action. Get ready! Be prepared! Thanks a lot for your support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
2
Mixed Bitcoin Signals/Feelings | Are We Ready To Jump?After looking at the bigger picture, Bitcoin's long-term weekly chart, we go back to the lower timeframe to get a better idea as to what will happen short-term... Is the low in? We have really good support above $40K. That is the $40,000 - $42,000 price range. The longer this level holds, the higher the chances we end up bullish with a higher low. If this support level breaks, we are still looking great around $39 and $37K. We are reaching the culmination point. In 2 weeks the month is ending... We are set to move higher even if we get a final drop. Forget about the current price action, if prices go down by $10,000 or if they go up... It doesn't matter as long as we accumulate, we buy/rebuy and hold long. February is a great month for a bottom... Worst case scenario, we get 2-3 additional weeks of correction and then massive bullish growth. A very positive outcome, we move from the current price level straight up. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Sentiment = Extreme Fear | Questions, Reply In Comments Hello my fellow cryptocurrency trader, how is this Tuesday treating you? I am hoping you had a great Full Moon day yesterday... Please, allow me to ask you a few questions related to Bitcoin, reply in the comments with your thoughts. Bitcoin Sentiment The Crypto Fear & Greed Index is now set at Extreme Fear (1), it has been like this for weeks. Bitcoin Weekly Chart Technicals We have a few technicals to look at on this candle chart before getting to the questions. Bitcoin has been dropping since early November and just last week hit a new low. The total decline is now at 42.67% since the early November $69,000 BTCUSD peak price. (2) We have a perfect nine on the TD Sequential. Even though the count can go for longer, up to 13, this is normally considered an over-extended market. Once we have 9 consecutive sections hitting new lows a pullback is due to take place. (3) The last bullish wave went for 112 days. The correction until the last low went for 63 days. That's a total of 175 days. 63 days of correction is very close to 0.618 (61%) of the whole cycle, which is the Golden ratio. Corrections tend to end at this level. (4) We have additional signals... (+) Last weeks low coincides with Septembers 2021 low. (+) This is also the 2nd wave of an impulse; Corrections can end at the low of wave 2 based on EW... There is more. I am not saying that prices are going up... I just would like to ask you some questions. Questions - Reply In The Comments 1) What to do when the market is in "Extreme Fear"? What do you make of this signal? 2) Is a 42% correction big enough for a price bounce? 3) What do you make of the -9 count on the TD Sequential? 4) Where do you think Bitcoin is headed by the end of the month? What's your monthly close price prediction? 5) Can you hit LIKE now? :D Bless us with your comments. Support us with your likes. Thanks for your support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
3
BITCOIN BELOW $ 45000 ! WHAT NEXT?BITCOINS JOURNEY SINCE DEC 2020 TO JAN 2021 The major cryptocurrency Bitcoin prices has recently slashed from $69,000 to $40,000 in about less then 2 months. Bitcoin was on its peak at $69,000 on November 10th, 2021 and it made a recent low of $ 39558 on Jan 10th 2022, a decline of 42%. However, in last few days it gave a sharp upside movement towards $45,000 from $ 39558 and trading between $42,000 to $43,000, but the question is that will this short rally will continue or Bitcoin has ended its rewarding era? TECHNICAL ANALYSIS LAST ONE YEAR HISTORY Over the last year, since 20th Dec 2020 Bitcoin started its upward rally and climbed to almost $ 65,000 in very short span of time and made its a fresh lifetime high of $ 64,895 on 14th April 2021. Investors who rode this rollercoster that started from $24,000 on 20th Dec, cherished the rally and a earned whooping return of almost 170% and that too only in 4 months (512% p.a). BUT, this rally didn't sustain and Bitcoin prices slashed to $28,600 on 22nd June 2021, which means it lost all the return it gave in less then half of the time that it gained in last four months. Though, Bitcoin never disappoints its investors, it started a fresh start from the mid of 2021. A fresh sharp rally was seen in Bitcoin, when the prices shot up to $69,000 on 10th Nov 2021 from just $29,000 on 20th July 2021, means it rewarded its investors once again with a three digit return. But, soon after making a fresh life time high of $ 69,000 on 10th Nov 2021, it once again moved downward and slashed to a low of $40,000 on 10th Jan 2022. CURRENT SCENERIIO Over the last year (as explained above) it has created a "M" shape return to the investors, which in technical langauage is called "A Double Top" pattern which is yet to be confirmed. According to this pattern if any script falls below the neckline (marked red in image) then prices may fall equivalent to the height of this pattern which is aproximately around $ 35,000. CONCLUSION If the price of Bitcoin falls below its recent low of $ 39,558 which it made on 10th Jan 2022, then we expect a further downtrend in bitcoin in 2022 uptill the mark of $25,000. So if you are a swing trader, you can make position with a stop loss of $ 39,500 (Marked Yellow in the image) for target of $ 45,000 to $50,000, But if you are a Value Investor, then you should only invest 30% of your total amount at current levels around $42000-$43000. Rest of the amount should be kept either for the further corrections or till the upward movment is confirmed by the upcoming trends.
BITSTAMP:BTCUSDLong
by moneymarine
Bitcoin Buy Signal Based RENKO ChartWe are looking at the Renko chart for Bitcoin (BTCUSD) on the 4H timeframe, we have a buy signal. The Japanese Renko charting system is very useful and easy to understand, it can help you define trends. You can get a buy signal when you get a green "Brick" vs a sell signal when you get a red brick. We have a green brick with high volume, giving us the buy signal. (Note: You need your own strategy before trading) We also have a nine (9) on the TD Sequential. The Japanese believe the market to be overextended after a 9 to 13 count. With three (3) green bricks we have a confirmed uptrend. With three (3) red bricks we have a confirmed downtrend. We will see how this develops. We have the the falling wedge pattern from other charting systems as well as the support level from September being activated once more. I hope you enjoyed this Renko chart, it will be part of our tools from now on. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin 1H Daily Update | Bulls Still Ahead, PatienceWe are looking at the 1H timeframe for Bitcoin, where we share our short-term trading ideas. We can see that the bulls are still ahead. This is an update to my previous 13-Jan. article. After the 13-Jan. peak, Bitcoin hit a new low (higher low) on 14-Jan. The main low came out 10-Jan. These are all marked with green circles. The MACD has entered the bullish zone and the RSI is strong. MA200 was tested as support twice and it holds. The Bulls Are Still Ahead. Short-term. Patience is key. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana