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Bitcoins’s ride to $17,312.51 (A Prediction)I found Fibonacci chart to be amongst the greatest to find new reversal opportunities, When I found out the had it run sideways I immediately jumped to the Bitcoin chart to see exactly where price MACD began to drop from the ATH and began to notice the change in the pressure of the market bearing the price down after the initial first pull upward, being the healthiest Bull trend of the market we’ve seen so far. If you can recall, it was the pull up that placed us in the Cup and Handle pattern. Just like all great moves in the markets, they must reverse and Bitcoin has already made its choice a month ago. So wake tf up and eat your cereal with a side of Bitcoin because every break on the chart to the low side is a opportunity to short;) Don’t mind my stupidity, I’m having my fun while teaching. So the red line labeled Major trend line in the gray area will be a massive short opportunity because the break of that trend line will signify significant bearish momentum meaning we have more room to fall. On the bright side we know where to short, but how? Near each line where the price will break through, there’s gonna be significant pull back off the first and possibly even the second tap on the trend lines, so don’t go balls to the walls the minut it gets there. And just play it and see how the market act as it’s on the lines, and short when it looks like the final pull back. If you guys want more on the previous method on how to short, ask and I’ll give you my “Half-Pullback” method which will give a better structure on how to know when it could be the final one. I’m still working on this one to get more accurate numbers out of it but the idea says enough to under stand how to trade it. If that makes sense. Ps: I’m gonna give a price prediction on where it could move to soon so I’ll be linking that below aswell, Happy Trading Everybody!
COINBASE:BTCUSDShort
by GreenDayTrade
3
Bitcoin Going to Zero?Today I'd like to touch on a systemic threat to the bullish thesis on Bitcoin, and Crypto in general, which I don't see discussed very often, which is Quantum Computing (QC). Now, one of the most popular demonstrations of the power of QC, has been it's application of processing power to crack lengthy mathematical codes. Many companies, and governments across the globe, are investing in QC at the moment, including China, who recently boasted that their QC is 10 Billion times faster than Google's, shortly after Google clained Quantum supremacy. WTF? According to Deloitte, QC poses an extremely grave threat to the crypto space, and calls for a potential viable alternative to traditional cryptography, which could help mitigate the threat to the roughly 25% of Bitcoin apparently at immediate risk of hack. There's an important point that needs to be made before we take a look at, and analyze Bitcoin's recent price action, and that's on the subject of asymmetric cryptography (AC). I know many of you are dying to talk about this, and are thinking that the so-called one-way function of AC protects the private key, because of the duration of time needed to compute it (from the public key) with even today's fastest computers. However, it's proven that any key, of seemingly any length, can be hacked with a Quantum Algorithm (QA) - see Peter Shor's (MIT mathematician) work on quantum algorithms. We've seen evidence of bitcoin being hacked in the news lately, and due to the sheer (unfathomable) power of QC's - it wouldn't take long, if not seconds, to hack. I am certainly no expert in the crypto space. But, imo the very existence of QC technology, renders traditional cryptography marginally useful (for now), as long as QC remains outside of mainstream channels, but essentially moot in the medium to long-term. If QC ever went mainstream, or it got into the wrong hands, let's say, Bitcoin, along with all crypto currency's, could go to zero. Of course, this is all hyperbole, so I appreciate you guys letting me indulge today. Let's discuss further? Onto some technical analysis: Simply looking at the parabolic nature of Bitcoin's short-term hype cycles, we can can deduce a bearish thesis on immediate overbought or oversold levels. When you look at the weekly time-frame, for example, you can see that the RSI is approaching 80, once again, just as we saw in the June 2019 top, and also in the Dec 2017 top, when we saw an RSI of 90 (we're now seeing the highest weekly RSI since Dec 2017). Today we're not seeing overbought levels, we're seeing extremely overbought levels, which suggests we could see a notable retracement back to at least the previous hype cycle high around 13,700 (at the 21 week EMA), and possibly lower. We all know markets are not functioning properly, and with the MMT nightmare we're seeing playing out across the globe everyday, hedges such as gold and crypto, may continue to rally as a seemingly appropriate store of value. Although a short-term retracement would be healthy before another potential leg higher, we have to consider the unique market scenario playing out, and the distortions in flows and price discovery. Personally, I missed out on the opportunity to buy Bitcoin very cheap about 10 years ago, so in the interest of full disclosre, I'd love to see Bitcoin back at 3,000. Don't let anything you've read today alter your convictions, or distort your own observations. Everything we post is intended to add value to the community, and to stimulate intelligent discussion. Thanks for your time today guys! If you enjoyed our Bitcoin analysis, please hit the Like button and subscribe to our profile. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research. Cheers, Michael.
BITSTAMP:BTCUSDShort
by Hedge_Of_The_World
12
$BTC / USD 4H "Can chop longer than you can stay sane" ~$18K dip$BTC / USD 4H Chart - no indicators - support levels in green - resistance levels in red Bitcoin pushing a breakout of the historic $20K all time high. No need to fight the clear trend here, but try to avoid getting chopped up. I think there is potential for Bitcoin to range around $18K (white box on chart) for a little while before retesting the top of the channel. Chop trading plan - buy the dip around lower $18Ks, ideally play the ATH breakout with a retest of around $20K and then the real fun begins.
COINBASE:BTCUSDLong
by dragoncharts