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BTC.DBitcoin volume decline = the rise of altcoins Three components in analyzing the volume of investment in Bitcoin relative to the market as a whole 1- Breaking the big triangle downwards, which gives us the news of a sharp drop in bitcoin volume compared to the market in the coming days. 2- Following the downward channel shown in Jarrett, which also indicates the downward trend of the whole trend in the future 3- Expanding the market and making more use of the currency of the world in the world, not only in terms of investment, but also the component that will prevent Bitcoin from reaching over 70% of the total market capital. With the decline in investment in Bitcoin and the downward trend, we can expect the market to pay more attention to Altcoins in the future.
CRYPTOCAP:BTC.D
by Technoarz
6
All eyes on the 200 weekly ma.taking it back to the chart I had set up on coinbase we can see btcusd once again finding good support on the 200 weekly ma....we can also see the last time we tested the weekly 200ma was the current bear market bottom of 3.1k...and we can see what the eventual result was a big bounce to 14k. it is obvious hoe crucial it is for us to maintain this moving average as support and fortunately we have two more key supports in this same area to hopefully help triple reinforce that support. Those are the 78.6 fib retracement at 5471 and the 5555 horizontal. If this zone flips to solidified resistance then the only help I see below it is a double bottom at the 3.1k zone and if that fails we could see this go all the way down to 1,000 maybe even as low as 900. For now I'm gonna give the 200 weekly ma a chance to prove itself once again. It should but with a black swan event like the current pandemic happening anything is possible.
COINBASE:BTCUSD
by DrDovetail
big bear attack on btc. Can 1 week 100ma &/or 50 ma hold supportAfter a big dump by btc price action has now fallen down to the 100ma which is current support. Just below that we have the weekly 50ma(in orange) it is more or less currently double reinforced by the fibonacci 7.2k golden retracement zone. Let's remember that when we retested this zone before the last big bull surge we didn't actually make it down to the exact golden retracement level before we rebounded so price action may very well be just trying to do that this time around. If the 1week 100ma(in blue) can maintain support we should anticipate the 50 week ma to continue rising upward here in the coming weeks and hopefully add to that support. For now though more downside even well below both of those MAs is still very much in the cards so it's important to wait for confirmation.
BITFINEX:BTCUSD
by DrDovetail
USDMXN 1W TRIANGLE BREAKOUT Triangles, Descending Triangles, Ascending Triangle and Ranges are repeatable trading chart patterns. Triangles and ranges are consolidation chart patterns that can breakout either direction. Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart). Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place. Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement. When you see descending Volume bars and descending ATR line (which indicates volatility) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern. Trade Management after there is a breakout candle close. 1 - Position size (compare volume bar to volume ma line). a - Breakout candle must be 100% of average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 3 - SL for both trades will be 1.5 x ATR. 4 - 1st trade TP will be 1 x ATR. 5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price. 6 - When 1st TP hit – move 2nd trade SL to breakeven. 7 - Adjust the 2nd trade SL to follow price. *8 – After Breakout candle – if price closes back into chart pattern close trade *9 - When breakout candle is more than 1 ATR from breakout candle open. a - Enter 1st trade at candle close with ½ position size. b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open. c – Price should pullback to that pending limit order for 2nd trade. d – If Price returns back into chart pattern close trade before SL is hit.
by Tradingstrategyguides
Bitcoin Drop to $3000 area??As the bulls have slowed their progress in BTC and other cryptos like the lonesome LTC in its push upwards, it seems a correction is definitely not out of the question for the coming months. The downward channel in BTC is still clear and still unbroken and as we see a push up to the top side of the channel we have had a large amount of resistance from the bears. It is a risky time to gamble on a position in BTC as a bull so tread carefully. I think a push to $3000 is possible, this is where we will see a large support if we fall that low. I hope that will be the bottom for BTC but nothing can be said for sure, we will just have to wait and see. On another note, what if we see a short squeeze instead of a drop to $3000 as the bears are gearing up to short BTC? Im not counting on it but if this is all speculative then why not imagine what might happen on the flip side. I am very much a beginner and just want to make observations and learn from them! My simple analysis is for fun and learning, please do not make trading decisions based on my observations - like I said I am just a beginner. Thanks so much for reading my analysis, please follow me and like my post! - Max K.
COINBASE:BTCUSD
by MaxKoke
BTC Bullish Price Movement Confluence.I have spotted an amazing bullish price movement confluence for BTC. In the 1W Chart I spotted rejection towards the 2770 EUR Support Zone, and now the price made a Double Bottom pattern ( A strong price action reversal pattern. ) When I moved on to the Daily Chart I spotted this huge Head & Shoulders formation occurring with a Neckline ( Brake out line) @ 3600 EUR. ( Another strong price reversal pattern. ) Personally I am looking forward towards this formation, because the moving averages ( 50 MA = Yellow / 100 MA = Blue, ) have crossed as well. ( Just an indicator comfirmation. ) And in the 4H Chart I saw another Double Bottom, but it already did a Bullish Brake Out, and has started a Bullish Trend making its first Higher High and Higher Low. In conclusion, if BTC brakes above the 3600 EUR level, then we will see huge bullish moves. I have also highlighted the the analysis with colors on the chart ! Leave a like if you agree that BTC is going BULLS ! Comment your thoughts below !
Long
by ErnestsAdlers
4 possible bear market bottomsWe could double bottom at the weekly 200ma and find our bottom there considering we have never closed a weekly candle under it. Next leg down you can see a major trendline here in this yellow horizontal line that could certainly provide the bottom we are looking for but if we are to retrace below that the next 2 horizontal olive green lines seem to be the end all be all for our market bottom. I think we wont see anything lower than the one around 960...it is the candle close of the bull run peak(in 2013) before the most recent bull run, in other words the bull run peak before the last bull run. In markets whose ultimate bubble has yet to pop, the bear market typically finds its bottom before it has a chance to reach under the candle close of the previous bull runs peak. Considering there are far too many huge financial institutions currently stepping into crypto we can tell that the real bubble hasn't even gotten close to popping yet, so I am extremely confident that we will reach a bear market bottom by at least this bottom olive green horizontal line around 960 more likely in the 11k range or so. . .but possible at 2950 or the weekly 200ma double bottom around 3.1-3.2k..of course this is all just my opinion and not financial advice. Good luck and thanks for reading!
BITSTAMP:BTCUSD
by DrDovetail
Amlook at the weekly chart.We can see last after being knocked down by the 50ma on the 1 week chart that last week's candle has closed back inside the descending triangle pattern invalidating the previous week's breakout...we also seem to have formed a nice handle for a 1 week chart cup and handle pattern however we don't want the handle to dip much lower than it already has or we will be less and less likely to trigger a cup and handle. Look for this week's candle to maintain the 1 day chart's 50ma as support. If it can then we should hopefully be able to break right back upwards out of the descending triangle pattern and hopefully maintain the breakout this next time. If we fall under the 1 day 50ma and it flips to resistance we could prolong our fall to 6.5k or even 6-6.1k but I'm trying to remain optimistic for now.
BITFINEX:BTCUSD
by DrDovetail
WTI Long EntryYesterday’s analysis: Support Cluster from Ichimoku Cloud, Bollinger Band, and trendline. Visible range > monthly 9. Just noticed that a monthly 9 preceded the last bubble. Patterns: Pitchfork Horizontal support and resistance: S: $67.10 R: $69.28 12 & 26 EMA’s (calculate % difference): 12: -4.41% 26: -3.21% MA crossovers: Bearish cross on 1h preceded sell off. Recent bullish cross on the weekly. FIB’s: 0.381 at $77.28 | 0.236 at $60.72 | 0.5 at $90.67 Candlestick analysis: Waiting for consolidation Ichimoku Cloud: D: fully bullish, expecting cloud to act as support at $68 W: Tenkan at $67.68 and starting to develop a c clamp TD' Sequential: 3d has called the last two tops. Shows major support at $66.13 and resistance at $72.37. Red 8 on the daily tells me to get fully positioned before tomorrow’s close. Currently bouncing off red 9 on the 1 hour. If we break back above $69.50 then it will be time to seriously consider entering. Visible Range: Good support at this level with very little built up resistance until $90. 50 & 200 MA’s (calculate % difference): 50: -1.65% 200: +8.22% 50 just started to angle downward. 50 period MA on 3d chart has been a final line of support for the bulls. Bollinger Bands: 1W: MA at $67.55. Bottom band lines up with 50 week MA very nicely. 3D: just cross MA to the downside. 1D: Wider than we have seen it in years. Bottom band is angling sharply upward. Trendline: Bottom end up bull trend at $66.23 Daily Trend: Bearish since 7/5 Fractals: DOWN = $63.6 UP = $74.75 Volume: Lowest volume we have seen since 11/23/2017 “As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterBrandt Yard line of trend: Start: $42 Target: $90 Field Lenge: $52 Current Price: $68.35 Yardline: 50 Conclusion: Volume has sharply decreased since 7/12 as price has pulled back. This indicates a dwindling amount of supply at these price levels. Visible range volume profile shows very little resistance between current price levels and $90. Recent bullish cross on weekly is a very good confirmation that this trend has room to go. There will be a support cluster from $67 - $69 due to: trendline, kumo support from daily Ichimoku Cloud, Visible Range Volume Profile, prior horizontal resistance turning into support. Bottom band of the daily BB, and the MA from the weekly BB. Red 8 on the daily TD' Sequential tells me to get fully positioned before tomorrow's close. Order currently set at $67.51. If price does not get there then I will be buying the next consolidation.
OANDA:WTICOUSDLong
by Sawcruhteez
1
AUDCAD Gartley!? 1 week? complete? NTHello, we got a gartley here on the 1 week timeframe? We allredy got the first target complete, now looking for the new target 2 "786". Gartley: x-a B need to be 618, and can not close under the 786. a-b C:need to go up to 618, and do not close over the 1. X-A D: need to go Down to 786, ill altmost get a few pips above to the into the trade to be sure. Targets, will be fibonacci retracement A-D, and the 382. Target 2 will be the 786 re from A-D Target 1: 0.98931 - complete! Target 2: 1.02269. Will it complete?? Let's wait and see.
Long
by McbmMM