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BTC/USD Swing Trade Analysis - Down, Then UpHello folks, looks like the test I was expecting was not as low as I thought. BITFINEX:BTCUSD tested the 46k-47k support and then moved up to test the 50k-52k resistance, which seems to be where we are now. Let's see what can happen. Even though the MACD is in the positive and the RSI is saying that we are still not overpriced (still not above 70%), the volume is pretty low. So we have 2 indicators saying it will go up and one saying it will go down. Interestingly, the shorter-term charts (1h, 30m) have all started to show a movement downwards. Based on that, I think we are in for one more test of the ~48k level (in the next 4-8 hours) before moving up again (tomorrow).
BITFINEX:BTCUSD
by mairabay
BTC/USD - One More BottomAnd a bearish weekend it was! Are we going to retest the bottom or keep moving up? I think there is one more test for BITFINEX:BTCUSD before climbing. The MACD is telling me that we are going up, with the green bars and the wider separation within the lines. The RSI last closed at ~60%, which tells me that there is still more room to grow. However, looking at the volume, it isn't very high. This means people aren't buying nor selling because either they think the price is ok or they are waiting to see what happens. If it does go up, it will be a slow climb ("buy on Monday sell on Friday" kind of week?) Looking at the shorter-term charts, they are all signalling overpriced on the RSI (line well above or close to 70%). That tells me that in the short-term (next 4-8 hours) it will still go down. I think it was Lord Rothschild who said "sell when everyone is buying and buy when everyone is selling". Following this philosophy and looking at the RSI alone, now would be a good time to sell because it is overpriced. Also, don't forget that, despite the MACD being in the green, the lines are still in negative territory. I expect one more test of the 43k level before we move up again.
BITFINEX:BTCUSDShort
by mairabay
4
BTC/USD Swing Trade Analysis - Too Many Fence-SittersWas Monday the final dip before 60k? Or are we going further down? Checkout my BITFINEX:BTCUSD analysis. Indicators: The MACD lines have crossed, so it is a strong indication of an uptrend. It also looks like they are getting ready to spread apart. On the other hand, we are still in negative/bear territory, so the gains might be small and it might go down again. The RSI is right in the middle, so this tells me that the price is consolidating at around 48k-52k. Even if the price goes up or down, (based on previous negative MACD periods) I don't think the fall will be significant. That being said, the volume is quite small, which tells me that most people are still waiting to see what happens. Until something changes (crypto-related news, or a new tweet from Mr. Musk perhaps) I believe there will be a lot of fence-sitters for a while. Again, this is another indication of a sideways market. Patterns: Some people have mentioned inverted head and shoulders, but I decided to try something different today. I'm still getting the hang of the drawing tools here, so I put all the lines of resistance and support myself (blue lines). Funnily, it does look a lot like Fibbonacci. Nature is beautiful. So (considering the indicators) I see 3 possibilities here: 1) slow climb up, testing all the tops (and possibly retesting previous bottoms) 2) dip to ~44k and then to ~37k based on a whale or news item 3) skyrocket to the highest top, again based on a whale or Musky tweet A friend of mine used to say "the market goes up on stairs and goes down on elevators". If we are going to follow the indicators (I don't have a crystal ball to tell you tomorrow's news or what Musk will tweet) I would say that it will likely touch ~55k today, going down to ~49k, then testing the next tops and bottoms and so on (pink lines). Conclusion: I maintain my position from yesterday: sideways market, with possible short-term dip (4-12h) but long-term rise (2-3 days). For swing trading, you can enter now and put a stop at the level you are most comfortable losing, or wait for a more clear indication of a rise. Disclaimer: None of this is financial or investment advice. Cryptocurrency is highly risk and you should only invest what you are comfortable losing.
BITFINEX:BTCUSD
by mairabay
2
BTC/USD Swing Trade Analysis - Still Moving SidewaysThis BITFINEX:BTCUSD forecast/analysis is for the next 1-3 days. *Indicators:* Looking at the volume, it has decreased almost by half since my last post (yesterday 11AM EST), meaning that many people are waiting to see what will happen. There is no more strong pressure either up or down. This means there might be a consolidation around the current price range (47k-49k) before any changes. The RSI conforms this as it is hovering very near 50%, which means the current price is what people expect it to be (it's neither overbought nor oversold). My MACD analysis yesterday was spot on, as the price continued to rise and the pink bars got shorter. I still believe it will go up, because the 2 lines are getting very close together (always a sign of change). But due to the low volume, this could change as (like I said) many people are still on the fence and not really making any moves. *Patterns:* There are a few possible patterns here (keep in mind I'm still a beginner at this): 1) Upwards channel (?) in blue, with testing of lower line (45k-46k) and top line (52k-54k). 2) Downwards channel (?) in orange, with re-testing 45k and then 40k (top and bottom of Feb 8). *Conclusion:* I think that, in the long-ish term (2-3 days) it will go up. But in the short term (next 12 hours) it might still go down. *Disclaimer:* Nothing in this post should be taken as financial or investment advice. Cryptocurrency is highly risky. Only invest what you are comfortable losing.
BITFINEX:BTCUSD
by mairabay
BTC/USD Swing Trade Analysis - Starting to RecoverHi everyone, I have decided to focus on swing trading for now. It was my original goal and I've been too busy (+need to learn a lot more) to properly do Day Trading. So here is my BITFINEX:BTCUSD analysis for today. *Patterns:* If what I am seeing is a channel (pink and then pink+blue) it is getting narrower. That means things are probably going to change. There also seems to be a triangle (bright green) indicating a trend reversal. Volume seems to agree. Higher volume means people are active on the market, unlike a couple of weeks ago (Feb 8-16) where everyone was sitting on the fence and the price barely budged. Even from Feb 16 to yesterday (before the major sell) lots of people were waiting to see what would happen (myself included). Now in the last 16 hours there seems to be a massive volume of trading, sginaling that many investors are returning to the market. *Indicators:* The MACD and RSI are showing a small signs of a potential recovery, but it will be a hard fight. The tough recovery trend can be confirmed looking at the volume. After massive buying in the last 4 hours (almost as much as the selling at Feb 22 23:00 EST) the bulls are starting to move the MACD out of the red and into the pink. But it is still not enough to get the MACD out of the negative and the RSI into 40% (both strong indications of recovery). *Conclusion:* For the more adventurous investors, this is already a good time to buy, as there is an indication of recovery. For a more conservative strategy, you can wait until the MACD has crossed the 0 line, as that will be a stronger indication that the price is on the way up again (but of course your gains will be less). If this has helped you in any way, please leave a comment below. I'm a (fairly) beginner at this and any feedback is welcome! *Disclaimer:* None of this is financial or investment advice, just my opinion. Cryptocurrency investing is highly risky. You should make your own analysis before investing and only invest what you are comfortable losing.
BITFINEX:BTCUSD
by mairabay
3
Technical Analysis 101: Support and Resistance In this video I cover the basics of the support and resistance levels and how to chart it out, If you enjoyed this video please like it and share it with your friends. Also please drop a comment, feedback, suggestion for me to cover or just to work on, and that would be much appreciated. Next video I'll cover the Fibonacci retracement and extension to plot targets. So we covered the trend lines and support and resistance levels, so please practice with those and send me charts if you need someone to look over it! As the main goal is for all of us to learn from each other and become better chartist and traders!
NYSE:WMTEducation
by jUiCE_Trades
5
BTC/USD Intra-Day EST Morning Analysis - Price ConsolidationHello everyone and welcome to another BITFINEX:BTCUSD update! This time we have a good chart without skewed trades from whales. Like I (sort of) predicted yesterday morning, the price did fall down again around 1PM. Looking at the next 2 hours, what will happen? *Candlestick Analysis:* There's some sticks that are long and some that are short, both in the buy and sell candles, so this tells me that prices are back to their normal variation. The wicks are also varying, which means the market is back to normal. I'll look at a subset of them later. Volume has gone down significantly compared to yesterday, which tells me that there are a lot of people waiting to sell or to buy. Let's look at a subset of this later. *Support and Resistance:* This is where things get interesting now I see a head-and-shoulders pattern (blue line) from yesterday 19:30 to today 7:15. This means that the bull trend is coming to an end. However, the MACD seems to be pointing to it going up, while the RSI says it is going to stay here. We can see that the volume is dropping, which means people are waiting to see what happens. Let's look at some candles again. The wicks are still varying so there's not much we can say. However the bodies are not too small, which means that volatility is still happening. Ok, that wasn't helpful at all. I'm having a hard time figuring this one out. I think I need to learn more patterns. I will take some time out to study or do other things and check back later. *TLDR:* My hunch says it will stay stuck around the current price (~$46) for the next 2 hours. *Legal Notice:* Nothing in this publication is investment or financial advice, please trade at your own risk and comfort level.
BITFINEX:BTCUSD
by mairabay
2
BTC/USD Intra-Day EST Morning Analysis - Moving SidewaysHi everyone, this is my first analysis publication. I am a beginner trader so I'd love to get your feedback on my ideas. I'm using the teachings from a major Cyrpto Trading YouTube Channel (please message me for links, from what I understood I'm not allowed to post links to other social media or news sites). *Candlestick Analysis:* Since 8:15AM, trading is taking place on a somewhat narrow price range (candle bodies are small). Massive FOMO happened at 7:45 AM, but market is calmer now (large candle body). At 8:00 AM, there was a long wick on bottom of the red candle, which means that price was still bullish. We can see that confirmed at the 8:15 candle which closed with a price rise. However, there was also a long wick the top of the candle, which means people were already itching to sell as well. I think this was the first clue that things were going to start moving sideways. This continued in the 8:30 AM candle, confirming the sideways move. But wait... we need to factor in the volume. From 7:45 AM to 8:45 AM there was a high volume of trade. This means that what we just explained is confirmed (at least for this time period): when the price was going up, it really was heading up due to the high volume. And when the price started moving sideways, people started sitting on the fence. Now let's look at what happened after 8:30 AM: Still small candle bodies, which means trading is happening on a very narrow price range. For me, this says most people are on a "wait and see mode". The only big wicks were at 8:30 and 10:00 AM. A slightly big one at 9:15 as well. This means that people were getting more and more itchy to sell. Looking at the volume, it seems to confirm this idea. A low volume means people are sitting on the fence waiting to see what will happen. *Support and Resistance Analysis:* (done mostly with my experience of trading in 2017 (and learning from a major Crypto News Site) since I only have access to 2 indicators here). From 8:15 to 10:30 (now) I see a symmetrical triangle (in blue). Looking at the MACD (at 10:45), the bars are going down and the blue is also about to cross the red. Both mean that the price is about to go down. The bars are not below 0, so this means it will not crash down too much. The RSI is still signalling overpriced, so this means the price will likely consolidate at a lower value than it is right now ($43,890). *Final update (11 AM) and conclusion:* Despite the large volume at 10:45, we can see that the candle stick/body was very short, which tells me that the market is still on await and see mode. The triangle (pink) is still symmetrical, which says (?) things can go either way (that's probably why people are still on the fence). However, the RSI and MACD are both saying it will go down. Based on this trading window (9-11 AM EST) I will say that the tendency is to go down, or stay sideways for the next 2 hours. I will check later this afternoon to see if my idea was right. *Bias disclaimer:* I did sell a significant part of my holdings at ~$39, thinking that it would keep on testing the top for a while, so I am doing this to try and see when to buy. I am trying to be as unbiased as I can, but there might be part of me that is seeing what I want to see. *Legal Notice:* Nothing in this publication is investment or financial advice, please trade at your own risk and comfort level. #technicalanalysis #beginner #crypto #bitcoin
BITFINEX:BTCUSD
by mairabay
2
ENJIN Price Prediction (Need Expert Advice)Ok so I'm fairly new to understand indicators, pricing patterns and other such charting tools but I'd really love some expert advice and thoughts on a extreme beginners first attempt at a price prediction in a strange strategy and mix of polar opposite indicators that I believe could still provide an accurate outcome. Ok so my prediction is sometime around 8:00 on Jan 19 the price for ENJIN will settle somewhere around 0.22280536 I came up with this by placing swing trading pattern indicators on my chart then seeing the difference between the pivots in highs and lows With around . 02 to .05 movements on average, Leading me to believe the recent spike in volume occuring in the 17th was FOMO buying resulting in ENJIN finding new support at 0.22404000 then bouncing through to the 19th settling right around the new support level at 0.22280536 The main way I came up with this prediction was making the trend line run along the swing average give or take and then using bill williams 3 lines to determine if the spike was going to be a constant up trend or a flash buy. Anyone who knows what they're talking about I could use some advice or thoughts on this strategy and charting. (The fans just for me to weigh out P/L)
EShort
by justinr93
1
Where Will The Bird Land?Where is TWTR going to land? Seemed to hold that 47.5 area incredibly well...lot of buyers coming in there to pick it up. But then we see the seller pressure come in around the early 49's. Ultimately I think we make our way back up to the 52-53 area this week, but I want to see a goo confirmation above 49.5 before I enter. Shorts if we break 45.5 but I don't see that happening unless we get more bad news. 10% seems to be a healthy enough correction for a company like Twitter. Please leave any comments or feedback below! I'm relatively new to charting.
NYSE:TWTRLong
by TraderDeacon
2