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BTCUSD Trading Plan - 7/Dec/2021Hello Traders, Hope you all are doing good!! I expect BTC to go UP after finishing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea
BITSTAMP:BTCUSDLong
by For3xScalper
Bitcoin Monthly Full Chart Analysis @AlanSantanaLet me start by saying that we've never had this type of monthly chart on the Bitcoin (BTCUSD) trading pair. In the past, each time an All-Time High was hit it would always, without exception, be followed by a long-term correction before prices continue to grow. This time around, we hit a new All-Time High in April 2021 and after only a few months a new All-Time High was hit in October 2021. Goes to show how much excitement and bullish sentiment Bitcoin is enjoying. Now, hit LIKE and let's read this chart together. Bitcoin Monthly Analysis with Alan Santana (@alansantana) Going Back To Basics! The first step always is to go back to basics, specially when emotions are running, in this case, when the market is hot and moving strong. Looking at Bitcoin monthly, nothing has really happened... Bitcoin peaked but EMA10 still remains as support. What's scary is what comes next, the potential is huge for another drop. The month is just starting and things can change fast but a monthly close below EMA10 and the doors are open for EMA50 ($23218) to be tested as support... Let's not get ahead of ourselves, let's just focus on reading the chart. The basics - Higher high doesn't count. We had a high of $64,895 in April followed by $69,000, this is technically the same high TA wise, since Bitcoin grew out of $3,850. - Bitcoin monthly tested EMA10 as support and failed to break resistance on the next jump. When this happens the next support level needs to be tested before any additional growth. This puts the next monthly support at $36,565 or EMA21 but this is only short-term. The support level that will come into play based on my EMA analysis is EMA50 at $23k. - Plenty of room to drop on the indicators + bearish signals. The MACD hit a new high while the histogram keeps going lower. There is plenty of room for a drop lower after new ATHs have been hit: - RSI bearish divergence (monthly makes it a very strong negative signal). While Bitcoin peaked in October the RSI did so in March 2021. So Bitcoin's relative strength index has been dropping since March, making it weaker and weaker. There is also a long-term bearish divergence compared with Dec. 2017. This can either mean that the bull-run is not yet over or that a longer correction needs to take place to reset these values. The rising trend-line has also been broken. The RSI has a bearish bias. - Trading volume keeps going lower and lower. This signal isn't good either. Conclusion The month started just 4 days ago. The bearish momentum picked up speed today. It is very hard to say in the monthly what will happen next as we have 27 more days before this candle closes. Still, Bitcoin grew from a $3,850 low in March 2020 to a high of $69,000 in October 2021, we wouldn't be surprise to see additional correction. If Bitcoin hits $38,500 on a drop, it would still be 10X higher than the March 2020 low, which is pretty high. The support levels that are in-play go as follow: Immediate support > $44,000 / $41,000 Next support (critical support) > $36,000 / $34,000 Bitcoin bleeds support > $28,000 / $23,215 Long lower wick shakeout > $18,000 Note: If Bitcoin stays trading above EMA10 monthly, the bearish bias is invalidated. The longer that prices stay above EMA10, the less likely is for the bearish bias to develop. If Bitcoin moves and closes below EMA10, here set at $46,120, then we can easily see a stronger drop. The faster this level is taken down, the lower that Bitcoin will go. What happened to $100k? The month is just started, the recent move was pretty strong. We can have a quick and fast correction, a long wick and then resume the growth. But this can also turn into a long drawn out correction... We will definitely hit $100K and beyond but we have to wait for the correction to be over and this can happen fast as it can happen slow. Thank you if you read this far. This is just my view based on the chart and past experience. I hope you enjoyed the content. I am always grateful for your continued support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
3
Warning! How Far Down Will Bitcoin Go? $44K, $30K, $20K & More Bitcoin is moving below EMA100 on bearish momentum for the first time since May. Hit LIKE to start reading now and let's get started! When Bitcoin moved and closed below EMA100 in May, we had the strongest correction of the year. Now, Bitcoin going below EMA100 can signal that something similar can show up. We have bearish indicators. The MACD is below zero and trending down strong. While the RSI is at 39 trending/aiming lower. Note: The trading volume is still low and candle closure is needed for confirmation, meaning that prices can bounce but the bearish bias is now becoming really strong. How far low can Bitcoin go? For the answer we go back to the three (3) scenarios we looked at before. 1) Taking out 1 support level and then bounce. That would be around $50,000. 2) A stronger drop before the bounce. That would be around $44,000. 3) Long-wick fast/sudden drop that most people won't expect. This can take us to $30,000. What's your take? We are now in-between 2-3, a strong drop with a long lower wick, sending prices low before a long-term recovery! Let's see how it goes. Thank you for reading. Leave a comment. Namaste.
BITSTAMP:BTCUSDShort
by AlanSantana
2
YOYOW Quick Update (100%+ Possible)YOYOBTC closed above MA200 yesterday and today has gone green. We have a long upper wick 28-Nov. which we take as a removal of resistance. This means that prices can easily grow now after this long wick candle showed up. Bullish indicators, above EMAs/MA and all the rest. Patience is key. Be grateful for the profits when they come. Accept any mistakes and losses if they come. Keep on insisting... Keep trying... Keep learning and growing... You will have everything that you always wanted. You will blessed with the best always because you are a beautiful and Divine living Soul. Namaste.
YLong
by AlanSantana
As The Next BTC Drop Approaches, The Altcoins Are Set To Boom!We are now seeing an inverse correlation between Bitcoin on our Altcoins vs Bitcoin trades/pairs. We had just a few short days of the Altcoins calming down but they are starting to heat up. As the next Bitcoin drop approaches, the Altcoins are getting ready to grow. We will see many, many pairs jumping really strong as this week develops. We will see increases in 2 digits and 3 digits, with dozens of pairs moving every day. Mainly Altcoins vs Bitcoin but also Altcoins vs Stable (USDT) will go GREEN as well. Note: Bitcoin above $44,000 we still consider very, very strong. As long as we have a strong Bitcoin, the entire cryptocurrency market is set to grow. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Stacks (STX) Hits New High Compared To April 2021 - Great NewsWe are technical analysts and we love the charts. We love the candles and the amazing tool that this is. Since you can get everything from the charts, hardly ever we take the fundamentals into account. Here is one exception though, we love Stacks as a project and we have been trading this pair for long. STXBTC (Stacks) hits a new high today compared to April 2021. Like most Altcoins vs Bitcoin pairs; The bullish action started after the low set late 2020 early 2021, prices started to grow. A peak was hit in April (others peaked in March/May) and then we had a correction that ended in a higher low. Higher lows lead to higher highs... And now we grow. After almost 8 longs months, we have a new high which is extremely bullish for this pair and the rest of the Altcoins market as a whole. Remember, they are all connected. What one pair those, the rest is sure to follow. We are set for at least 1 more year of higher highs and higher lows. Thanks for reading. Always hit LIKE to support my work and for more. Namaste.
Long
by AlanSantana