Bitcoin-short
Bitcoin - Long Above Key Support LevelBitcoin has been in a downtrend and despite us believing that it will drop towards support at around $6500 we feel this a good entry level for the cryptocurrency to rebound and there is significant upside potential from this level. However, if Bitcoin consolidates below $6500 we could see 2019 YTD gains being erased and prices falling towards $4000 in the next few weeks.
Factal strikes again (or not)I can see a potential fratal from the 3k bottom.
Still the stop run at 10k wasn't in the previous one (or i missed something).
Just this to see how it will end.
Enjoy, and feel free to share below ;)
6000$ Is Saying Hello to BitcoinBitcoin is moving in a bearish pattern. We had a huge drop from 10400$ to 7300$. After that we had an upward retracement to the 38% Fibo level. Finally, the price has completed it's retracement and now the drop is to be continue. The next support is located on 6000$.
The Monday moveYesterday several indicators was leaning towards a big move today from yesterday’s post (will link below), but I remained bullish and was too busy to pay attention to the charts. Nothing really stood out. After breaking 7024 and now well below 7k. There is now more downside coming soon.
Targets of now would recommend a retest of 6.5k and if you been following since the double bottom or first break to 6.5k are long term bearish target is that 5.2k range.
Why would it go to 5.2k lower? Well vpvr shows most trading volumes in that area also let’s talk politics.
US election is next year with the halving. I predict we rebound to 7k closer to the halving, but more bleeding as Congress is looking towards election instead of regulation of crypto. Will be another slow year till next fall. Also with price the war between China miners vs western miners since China has the cheapest compared to western miners it wouldn’t be surprise if there’s attack of more sell pressure to eleminate western mining farms to control the network.
So now we will play the bearish side till next year.
Bitcoin - Continued Downward MomentumBitcoin has continued it's downward momentum and we expect the cryptocurrency to keep moving towards the support level at $6516. However, if Bitcoin reaches the $6516 there could be a sharp bounce upwards given the volatile nature of the cryptocurrency.
Finding a BOTTOMHello and good day to you!
Thank you for tuning in, I appreciate it.
Today´s input:
1.
-RSI showing lower lows
-Price showing lower lows
= This is a bearish divergence = Could mean, we have not found our bottom for now.
-6000 levels might be a possible low.
2.
-Continuation Pattern (Trend continues) vs. Reversal Pattern (End of a trend, opposite direction)
-Perspectives- it depends on the timeframe and range when you build an opinion about a trend!
Sorry guys for the noise in the background, gonna fix this in the next one.
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your quality-trader
Bitcoin Will Die $BTC will die. It's just a matter of when. I expect that within the next year -- and potentially much sooner than that -- BTC will be trading under $4,000.
If it falls under what little support it has at $7,000, that would light the way for a very bearish trend. Both the weekly and the daily charts look pretty ugly. Lower highs and lower lows. Every time momentum gathers for a breakout, it fails to break through and falls further.
The trend for the past few months has been characterized by quick falls and lengthier periods of consolidation. BTCUSD started out the year with a period of low volatility before gathering steam in April and taking off in May.
Between May and June 27, BTC more than tripled -- gaining 152.59% in just two months. On the 27th, it dropped from over $13,000 to just over $10,000. A $3,000 fall in less than 24 hours. Subsequent attempts to gain the momentum for a sustained push upwards have failed -- the cryptocurrency is in a clear downward channel.
I'm anticipating this bearish trend to continue into next year. Bitcoin will die a long, slow death punctuated with surges of volatility of decreasing intensity and frequency. I expect BTC to be trading under $4,000 within the next 6-12 months.
Short again, risk loweredHello friends,
I have gone short again from 7350, I am expecting to hit the levels marked in the chart. However, I have reduced risk as the volatility has been reduced and therefore that reduces the expected value of the trade.
I would not be surprised if we go up from here, but the trend is down and that's how I trade - I don't care about what I "think" will happen. I follow my strategy. What's yours and do you follow it? You should if you do not.
Thanks for reading,
YS
Doom is the new moon If we break 6.8k, we go down 5k - 5.5k because we have ema 200 in this zone.
Rsi is entering danger zone.
Also the move down can be bigger, drawing a potential W (inverted charted) that is bearish (so bullish on a normal scale).
Don't forget it can also go up, flip a coin.
Bitcoin - Short - Further Downside We still see Bitcoin moving lower towards the support level at $6516 despite the limited amount of price action across the past few trading sessions. On the upside we would still want the cryptocurrency to consolidate above the $10000 psychological level before being confident the upward momentum is sustained.
Scam pump incoming.Many scam pumps, it has a reason actually. Price is testing a strong resistance from 2015-2017 bull run (RIP) which is the gray horizontal line at 7700-7800 (0.618 fib retracement). Also, many bagholders and deluded millenials are FOMOimg hard and longing, market will do the opposite, as always. A good point of entry may be if price breaks 7800 or a confirmed inverse SHS pattern on falling wedge breakup. Close on 200ma.
DEGENS, GAMBLERS AND ESPECIALLY BAGHOLDERS WILL REKT REALLY HARD!!!
Bitcoin - Short - Further DownsideWe still see Bitcoin moving lower despite the cryptocurrency bouncing as it moved towards support at $6516. We will hold our short view till Bitcoin has sustained positive upward momentum towards the psychological level at $10000.
Believe the bounce is over and a new local low is imminent...Hello friends,
As you know, my medium term perspective has been bearish and now a short setup has arrived and I will be taking it. I don't believe we are going to see new highs in bitcoin any time soon and the trend is down - therefore I am only looking to short with any real meaningful % risk.
-YS
BTC - More Downside ComingI do my best to only trade longer term trends. My last post was during the last bottoming event for Bitcoin when I was accumulating. In my opinion there's two scenarios here. We bottom out in the 5k range and bounce or Bitcoin breaches the 3200 low from last year and we destroy a lot of peoples hearts in the process. I've set my first two 25% short term buys for BTC, one of them has already been hit. I will evaluate market conditions if we break below 5k and publish where my final two buy targets will be.
Am I wrong to still be shorting BTC?There has been a pretty sharp and decisive reversal since breaking $6600 last night, but looking at this daily chart or even looking at the four hour chart I don't see much bullish about it.
6 Key Levels to Watch Out-Bottom for Bitcoin may not be so CloseFrom top to bottom, strength of each support level gets stronger.
Neutral interval between 5800-6400 may provide a strong support for a big bounce but I don't think that bounce will be high enough to end up bearish tone in the market.
Strong interval between 4100-5000 is being the turn of the bearish market to bullish seems most possible.
Last support interval between 2000-3500 is by intuition my favourite level. I've been thinking of Bitcoin dropping to this level for the last month and somehow it makes quite a lot of sense. It was the most popular idea of the previous bear market. If the rumors about Bitcoin dropping below 3000 start before Bitcoin actually reaches to that point, It may never be reached. If Bitcoin does reach to this level, probably it will catch many traders off guard.
Bitcoin - Short - Further DownsideAs mentioned on our last analysis since Bitcoin has dropped below $8572 we expect the expect the cryptocurrency to drop further towards the next support level a $6536. Additionally, there has been downside pressure due to the People's Bank of China announcing a clampdown on Bitcoin trading in China.
Still bearish Bitcoin MarketIf Bitcoin didn't break green line with good trade volume, the current situation of market is still bearish and we will see Bitcoin price $6400 to 6600 and the end of December 2019 around last two weeks.
XBTUSD 'Potential' pattern formingAnything could happen for sure but I like to keep my eye out for possible pattern formations.
It keeps me interested and in the game and leaves me open to great snipe opportunities!
Bitcoin - Short - Key Support Level BrokenBitcoin has broken the key support level at $8572 and we therefore see further downside below $7000 to the next support level at $6536. Having been in a downtrend since the sharp rally in June and failing to gain positive momentum on the upside we would be cautious in taking a long view unless the cryptocurrency consolidates above the $10000 psychological level.
