Updated

BTC/USD 1D chart and 4hr contributed to stream.Trading options!

Hello traders!
The Big Battle between Bulls and Bears has already started! There We have clear battlefield above SMA 50 and resistance of triangle formation(red line).This means that BTC has entered into non-gravity zone, whole market has just reseted from last LH. This reset is on bull favour because momentum is positive. Bitcoin's future is under unknown sign, depends on mainstream adoption. There You have my view on possible scenario, of course always dependant on current situation. I see fibonacci floors as profit targets. Entry depends on Your individual strategy.

This is tough time to judge proper position side. I will guide You through closer time frames in this idea to investigate issues closer. Stay tuned!

Note

Note

Now the price looks for comfortable solution. Staying within trading zone would provide healthy coin circulation. In case of breaking up We could expect further rally with targets described on main chart.

Note

update :)

Note

The price is trapping itself in difficult position, it must flee in any direction with strong impulse. Remember that breakout doesn't mean that trend appears, especially not this time ;) On 1h chart I can see big seloff, this could trigger bulls to force the upper border I see em angry on 4hr chart where We received decent volume that is heating up. Soon We will be able to specify some good opportunity space.
4hr chart

1hr chart

Note

BTC beast mode
1hr chart:

Note

Bullish case more reliable

Note

Again, We are in 0 state, where We don't know if there correction is coming or just volatile intro before bull run. I think We will be between 8900-9000 before We could judge this phase.
1hr chart

Note

update on 1hr chart. Buying now is not that bad idea.

Trade active

BTC shows opportunity to 11k ride!
4hr chart

Trade active

Intraday chart, this time I will show You detailed analysis. BTC doesn't look for >13k moonshoot because of low volume overall. But I see bulls making gains very easly with sharp spikes. IMO We are getting closer to proper profit definition.
I see BTC trailing at strong supports, white and yellow intermittent horizontal support as very strong bullish card. At the other side I see rising wedge forming, once broken down, You should stay absolutely flat on this pair.
What if BTC continues rising? Well, I think it is good time to start accumulating BTC. You should take profit with net balance positive and then continue gambling for higher floors or dumping if coin shows no power. My advice is to always have some BTC in Your portfolio, from now.

BTC ORIENTATION RANGE:
-Below $ 8666 BTC is in difficult position, bearish likely because of loosing miners below this price

-Above $ 11000 BTC is bearish if volume is no more than average, bullish if volume bar will crush Your screen, then You should wear protecting glasses

-Between $ 8666 and $ 11000 BTC is neutral and quite easy to predict. (see picture right above)

How to trade now?
1.Buy
2.Stop below yellow intermittent support.This support is crucial for short term behaviour. Breaking this line could lead us to 8666 support again. You need to watch it carefully, because there could be stoploss hunting. You should stop it urgently if it falls below 9k.
3.Take profit: $ 10500 - $ 11500 (depends on Your strategy)

RISK:REWARD (1:6,5)

Do not hesitate to take profits if You are in doubt! Remember about stop loss, next strong impulse is coming!
1 hr chart

Note

Stop, We need to check how will it behave in the future, betting in the middle of the trading channel is quite risky. We need to wait for 8666 or 11000 to Look for good trade. Personally I did few quite succesful swings between BTC vs. alts and selling major stack of BTC with small tick for my favor. I had to keep distance because of bad wind for sailing on these waters. I would like to warn You there, if You are going to gamble,You need to face the risk appearing.

Note

Price is heading $ 8666!

Trade active

Hello. Please, don't blame me for inprecision, where I have called $ 8666 for BTC and it dipped to 8750(On Bitfinex). It is true, that blue major support could be adjusted or put into ranged support zone. After such volatile move I can see considerable volume that could lift the price to 10500 - 11500 !
0.5 fibonacci floor is good anchor after this indecisive short battle(retested and confirmed), I would re-enter at 0.618 fibo (9343).
1hr chart

Trade active

Explained profit levels. 0.5 fibonacci perfect play. I expect strong impulse soon. Stop loss depends on You, there could be many floors taken as good stop levels - I suggest You to be patient holder :D 1D chart forming very bullish nature, I do not expect drops below major support. TP 1 came from 20% possibility that sharks will shakeout once again to any support described below(could be 0.618 fibonacci also). Personally, I will sell 10% of my bet at TP 1.

TP 1
@
$ 9762
(1h chart)

TP 2
@
$ 11082
(1D chart)

Trade active

Regardless of long term technicals, there is triangle formation forming!
1hr chart

Note

My fresh analysis:

BTC/USD wind forces explained, 18% profit potential

pinfkloyd

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

pinfkloyd

Also on: