bitcoin same old game once againhey guys, bitcoin price charts in small time frames are one of the most tricky things in technical analysis, seriously trust me, ive personally experienced this thing as an elliot wave analyst. but there're some patterns which appears again and again in bitcoin's chart, for example like the upper one.
i've seen this tricky pattern a lot of time in bitcoin movement, first you get a double bottom and then a double top, and this pattern worked so well to rekt traders, when prices forms a bottom and then comes again to retest it lots of folks gets confident to break that level and go below, but then suddenly prices gets pump from those level and fomos looses their money, just opposite to that when prices forms a top and then again march towards that level bulls get so convinced to break and go above that but suddenly prices crashes, so in this of situations its better that we should wait for the price action confirmations.
here we also getting a double top formation, basically we're now in flat correction which is normal behavior of wave 4, am still bearish as i've predicted in my analysis
and remain bearish unless we break 8150 level, but there's a high probablity of going lower, as we'll soon move into wave 5, which could push the prices below 7000.
thankyou
Xbt
Bitcoin's Next Move (Short Term Keeping It Simple) Altcoins (IN)I will make it really simple for us (me and you) right now. Here is how this works... But wait, make sure to hit like before we get started... Ok, thanks a lot for the support, let's continue!
We have been looking at EMA100 as main resistance, which is the blue line that has rejected Bitcoin's growth several times in the recent past.
Looking at this moving average, we can come up with a few simple scenarios:
1) If EMA100 can be conquered, a close above it with good strength and volume. Bitcoin moves up and challenges the next resistance at $4300. If this one can be broken then $4640 is next.
2) If EMA100 can't be broken, Bitcoin goes back down to test EMA10/50.
Pretty simple.
My view: Volume is starting to grow on a Wednesday. The daily candle still has 11 more hours. So there is a big chance that Bitcoin can break EMA100 and continue with its move up, but instead of guessing, we will let the market decide.
The RSI is really bullish now sitting at 60 and going higher.
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This is Alan Masters.
Namaste.
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.
XBT/USD Short term viewBitcoin has been showing strong uptrend and has bounced strongly from the demand zone of $3100 level.
Bullish Case:
If it manages to break the $4100-4200 level in the coming days then it will continue its bullish trend till next resistance $4700+ level.
Bearish Case:
If it doesn't break the $4100-4200 level then we might price see price dipping to <$3500 level.
It can also range between $3200-$4200 level before making significant move up or down.
With Bakkt launching BTC contracts on 24th Jan'19, we might see a price jump but not necessarily.
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...
Bitcoin Stop Loss Hunt... Or Bearish Downturn?Good afternoon traders!
This is why you don’t long into resistance or short FA bullish.
For the last 3 days I have insisted we stay flat and I’m extremely glad to say this is the only bitmex group root :tm: Bitmex Gains that has not been impatient to get into any plays that are clearly not there. And still if you didn;t join the group message me and i will help you out over the Telegram @SID_CySec
I have been uploading daily analysis and market breakdowns for what the current market sentiment in premium while staying flat.
If you are in a bitmex group that has been calling plays the last 3 days, I recommend you see yourself out of that group.
They do not care about risk management and your capital.
BTC Positive. Bull charged.Everything looks positive right now for BTCUSD as far as the technical indicators go.
Beginning of "E wave". (ABCDE)
50day MA about to cross 100day MA.
MACD turns bullish (Orange crossed blue).
RSI uptrends.
8900 and 9800 are important levels to keep an eye for in the next few weeks.
8900 if broken confirms long-term bullish signal. (By 16-20th June)
8900 if bounced 5400 is in range. (By Mid of July)
9800 if bounced down can result in short-term correction. (By 2-6th July)
9800 if broken prices can reach ~12250 (By Mid of July)
Thanks for your time.
Happy trading.
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End of Consolidation. Next cycle underway.It was a crazy run downhill for Bitcoin this year. Most people(New investors) thought this could be the bubble and BTC will stumble and bleed.
Things like these are said and proven false for over and over again. Especially, by the important financial figures out there.
Looks like this is the end of the cycle from accumulation to crazy momentum uphill.
Recently, BTC has failed to breach $9800 fib.
But, A sweet triangle has formed and it is also the end of D wave (ABCDE wave).
The Bull run is imminent at this point in time and the next cycle is about the get underway and the time is ripe for the new investors to step in.
With the amount of attention crypto has received lately next cycle will be massive.
However, There are 2 possibilities going forward.
1) It can drop to $7800 mark again and the steady rise follows it.
2) As it has already shaped up with 2 green candles straight could see a day or two of red and rise after that.
For both the cases.
We could see the top of around $12250 - $14260 in a matter of 10-15 days.
Happy trading,
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