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BITCOIN | Waiting For a Trendline Retest!Hi, As I predicted on my 14. January idea post, the ~$9,000 was strong resistance and the price fell pretty sharply. The price action drew a bit too powerful Evening Star to make a "short" entry afterward but good for them who managed to take a risky sell (without a candlestick confirmation). Actually, I don't like this too-powerful-4H-candle because usually, price want's to fill those clean pushes before it falls again but hopefully, the Bitcoin price want's to fill it after the mentioned trendline retest. After the 19. Jan. push downwards from $9,200, the price has been stable and small moves upwards have found resistance from the Fibonacci retracement level 38%. This 38% resistance works perfectly if the movement is full of momentum and at the moment looks like the price action offers it - we have the Evening Star, we have the momentum. To be said, my eyes are ONLY pointed to the green area , a possible buying area. To me, this is the only high-probability trading area, I don't want to trade those shown red arrows, break below the minor blue dotted trendline. It is weak and it gives just a small confirmation that the price may finally reach the possible buying area. The minor trendline break should be taken as an alert: "Possibly, we start to heading into the green box." To be even more specific, the buying area is active until the price hasn't reached above the 9k and it has to fall within a few days (max 3). The buying area $8,000 - $8,300 consists of: 1) The trendline retest! The trendline is pulled from 2019 high, last week the price made a breakout and there is a high chance that this trendline works perfectly as a support level. 2) The orange strong horizontal area. It has several historical rejections plus only strong and powerful candles have managed to make a breakthrough. 3) 3x Fibonacci retracement levels should act as support levels. 2x 38% and 1x 62%, pulled from different waves since the bottom of 2019 December. 4) 4H EMA 100&200 are around the marked buying area to add strength to the support level. 5) Daily EMA's are lined up perfectly to work as strong support - EMA50,100,200 are nicely inside and around the green box! 6) If the price reaches as low as $8,000, then it should act also as a support level. 7) Wait for a smaller timeframe rejection from the green box and as always, wait for a bullish candlestick pattern formation on 1H+timeframes to get more secure trade. Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You! Regards, Vaido
COINBASE:BTCUSDLong
by VaidoVeek
21
Bitcoin Exclusive Update Bearish Engulfing Pattern so $8300..?Bitcoin Current Price is $8800. Overview: We told you about long BTC at $7600 and $8000. Now you all are in huge profit. Our Three Target has been successfully Achieved. So Congrtas for profit. Now What TA Says: According to TA now We can See Bearish Engulfing in 8 hours Chart Time Frame. Two bearish Engulfing Pattern in 8 Hours Chart Time Frame. So we can expect Retracemnet till $8200-$8300. but keep in mind its possible only this time Main Resistance line not Break. I draw in Chart. so If we bellow this Support then we can see Some retrancement around $400-$600. but If break upward side resistance at $8900-$9000 then we can see $9500-$9800 in short Term. so prepare both position. so keep an eye on every update. Thank you and please like and share and follow me
BITSTAMP:BTCUSDShort
by CryptoPatel
1
BITCOIN BTCUSD now Looking Bearish in short TermBTCUSD Now Trading at $7840. before some hours BTCUSD dumped and 50MA doing good Support. 50 MA support is $7682. We can see some upward side moment around $8000. and after we can see again down side moment till $7500-$7600. it will be possible if downside move and not break again $8000. if BTC move upward side above $8000 then we can see new High of this year. Now what: Support: $7450-$7550 Resistance : $7800-$8000. What Next: if we again hold $7800-$8000 then we can see new high of 2020. and Our Target will be $12500. but if break down $7800 Support then we can see $7450-$7550. This is good Support and Retest area. so be prepare of both Position guys. like and share guys
BITSTAMP:BTCUSDShort
by CryptoPatel
Bitcoin BTCUSD Exclusive Update $8703 soonBitcoin Now Looking Very Bullish According to Technical analysis Chart. Now Bitcoin Trading above $7400. And Struggle at Resistance $7550 if First we break $7550 then next Major Resistance $7787. If we breakout $7787 resistance then our Target is very Near. $8703 is Our first target and After $9000 Resistance. For more updates follow me on Tw... Now Total Analysis Working on Right Track. Support $7150 and $6950. now we are in Bull Cycle. Don't be panic guys with Small Corrections.
BITSTAMP:BTCUSDLong
by CryptoPatel
BITCOIN | Possible Short-term BUY Opportunity!Hi, Happy New Year my dear followers, wishing you 12 months of success, 52 weeks of laughter, 365 days of fun, 8760 hours of joy, 525600 minutes of good luck and 31536000 seconds of happiness. ;) I cannot make any deep analysis but I determined a pretty decent buy area. After quite quiet holidays the price has reached to the possible short-term buy area. Green-short-term-reversal area consists of: 1. Channel projection 2. AB=CD 3. Fibonacci Golden Ratio 62% 4. Fibonacci Extension 127% 5. The round number of $7,000 adds a bit strength to the reversal area. 6. Previously worked support level. 7!! Wait for a bullish candlestick pattern. You can wait for it from 1H+ timeframes and if you cannot determine it then do not take this trade! Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You! Regards, Vaido
COINBASE:BTCUSDLong
by VaidoVeek
98
BITCOIN | Prepare for it, a possible short-term SELL opportunityHi, It looks like I can make another post before Christmas because my previous idea has started to work pretty nicely. As promised, I make an update if it happens and currently, the Bitcoin price has started to approach my mentioned key area ~$8,000. At the moment, we are quite far from it, actually not so far but still, we have time to prepare for the next moves. Recent price movements and recent price action criteria indicating that we may see SHORT-TERM rejection from the marked red rejection area - rejection from The Red Christmas House :) Set your alerts on. I like what we have seen after the bullish Engulfing on the Daily chart. We got that Engulfing-momentum which pushed the price a bit higher to the next milestone - above $7,500. Everything looks bullish but we might see and we can catch a short-term downward movement. Movement range should stay between $250 to $600 but you have to be prepared with alerts because if this current bullish move is serious then this short-term bearish move from the marked reversal area may be a quick one. Resistance criteria. As said the rejection may be a quick one but still, you should already know the most accurate movements you get after bearish candlestick patterns. The current situation should be quick and that's why you can search bearish candlestick patterns from the 1H timeframes. The Christmas House consists of: 1. Fibonacci retracement 38% 2. Fibonacci Extension 162% 3. Super-strong light-blue horizontal price zone should act as resistance. Multiple rejections to either direction from it. 4. The round number of $8,000 should play an important role inside the red short-term reversal area. 5. Minor black dotted trendline worked as support and now it should work as resistance and definitely, it adds a bit strength to the area. 6. Trendlines from the 2019 top. There are different types of trendlines from different tops that "run" trough the marked red area. They are a bit subjective, that's why they aren't on the chart but still, I want to mention it, you can try to drag them by yourself. 7. AB=CD. This is probably the most important criterion and it stays around $8,060. 8. Parallel channel projection. It runs a bit away from the crossing area but if the pump occurs today or tomorrow then we can count this as resistance but if the price reaches inside the marked area around 25. Dec. then it is not valid anymore - a bit late for parallel channel upper trendline to start to work for our favor. 9. Different types of EMA's. Weekly EMA 50 is just below the 8k, Daily EMA 100 and 200 are just above the 8k. EMAs are nicely inside the marked reversal "house" to add strength to the area. 10. Wait for bearish candlestick pattern formation. This time the move may be a pretty quick one so, wait for it from the 1h timeframe (obviously, you can wait for those on 4H because then the pattern signal would be stronger). From strongest to weakest: Evening Star, Bearish Engulfing, Railway Tracks, Tweezer Top, Shooting Star, Spinning Top. If you don't know them then Google helps you out! Trade execution Personally, I try to react immediately after the price has reached around $8,200-300 - do not try this at home because it requires a lot of knowledge :) If it doesn't reach there and if it has formed a bearish candlestick pattern around $8,000-$8,060 then I try to enter after it has shown a pattern - easy as that. As said on my previous idea post; trading is quite boring, determine the area and let the price action guides you into the trade. If it doesn't reach inside the marked red area then nothing will happen - no trade, no loss, no win and let's determine the next high-probability reversal area, plus here is a pretty high chance that you got knowledge from this post for your further trading plans! ;) Be patient! Do your own research and please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You! Happy holidays, Vaido
COINBASE:BTCUSDShort
by VaidoVeek
6
BTCUSD - See what will happen next, trading into resistance!__________________________________________________________________________________________________________________________________________________________________ Hello traders investors and community. This is an update analysis on my recent analysis at the longer time-frame daily chart where i pointed out two possible scenarios on which will happen to BTCUSD the next days and weeks. If you didnt watched this analysis already you can see it here: __________________________________________________________________________________________________________________________________________________________________ BTCUSD is still trading in an overall consolidation phase on the daily time frame as you can see in my recent analysis. Today i will watch for the four-hour timeframe and signs which we can use for trade entry and overall big picture. Lets go! __________________________________________________________________________________________________________________________________________________________________ As you can see in my chart, BTCUSD has found some support at the 7000 USD price-level. As it is often the case that price will find support or resistance at important full numbers such as 7000, 10000, 20000 etc. But this support is more weak than its vaild because we are trading into resistance. As you can see there is an important donwtrend channel with resistance at the upper line of the channel, there is also resistance from price action as BTCUSD struggled to develop an stabil up-trend the last days. __________________________________________________________________________________________________________________________________________________________________ The overall structure of the underlying 4-hour timeframe trend matches my expectations of the bigger picture, where i pointed an expected consolidation period out. As for now it will have a pull-back and after this either continues to develop the downtrend or falls back into consolidation. __________________________________________________________________________________________________________________________________________________________________ For now, we can see more bearish signs as bullish , I would vary of opening longs here as I see many traders expecting a bull break-out. It's more bearish than bullish at the point. A possible SHORT position can be entered when BTCUSD touches the resistance at the 7300 - 7400 seen in my chart or with a confirmed break-down to the downside. But! I wouldn't open 100 % for sure a short position as in this structure it is more wisely to wait until we found some confirmation of future price action! __________________________________________________________________________________________________________________________________________________________________ Many other cryptocurrencies are in consolidation structures like this, we have to see where the market is heading. As it is an important case that after consolidation comes a period of high volatility , an good enviorment for traders! We will see. __________________________________________________________________________________________________________________________________________________________________ Hopefully, you enjoyed this analysis and received some useful information! Feel free to support for more market insight! Information is only educational and should not be used to take action in the markets! __________________________________________________________________________________________________________________________________________________________________
BITFINEX:BTCUSDShort
by VincePrince
7
Possible decending triangle to form further in this rangeIn this range of consolidation there is a possible descending triangle forming that would come to a conclusion in the medium term to next 16 days at most. Volume has been extremely lackluster as you can see with traditional volume indicators and historical volatility percentile, all signs point to a major move with mostly confluence to the downside. Buyers also do not seem too interested in buying but there is an overwhelming amount of longs entering the order books as everyone has been talking about recently. On the higher time frames all osculating indicators are pointing towards the downside most notably the 6h stochastic RSI having a reset during sideways price action. We can also see divergence plays happening over and over as we may likely see a bigger move soon. There have been bullish divergence signals with absolutely pitiful buying pressure to follow. There is a big move brewing and the bulls didn't even show up to the game. It's also important to note that the last time we formed a descending triangle was when bitcoin was in this price range and we dropped from 6k to 3.3k fueled by a long squeeze no where near the magnitude of the imbalance between the ratio longs/shorts right now. It will be very interesting to wait and see how this consolidation plays out in the medium term timeframes. If the decending triangle plays out, there is also a valid head and shoulders that looks like it actually wants to play out as well on the daily. A break of this pattern would send us to as low as 4.5k as that is also a break of the 800 ema on the daily and the 21 ema on the weekly. The 200 weekly moving average is sitting at the low 5k level as we have never broke below it. I can see us wicking below it for the first time but ultimately being defended and closing above it. This TA seems to also coincide well with the last long term analysis I posted back in April. Check that one out as well and I hope you have a great time trading. Please give me a like if you have enjoyed this TA and I will be sure to post more in the future.
BITSTAMP:BTCUSDShort
by UnknownUnicorn2831343
2
Bitcoin Higher Or Lower?What are your thoughts around the current price? If we break the low of yesterday's candle I can see a move lower. That being said, Bitcoin has a mind of its own. As a trader I just stick to my rules, I try not to think but act upon the checklists I work from. If it breaks higher (which I would love) then the option for today to short is lost. It's hard but as traders we need to separate the "wants" form the "is" and what is right now is a downtrend on the daily and weekly. What I want is for Bitcoin to move higher. What are your views?
BITMEX:XBTUSD.PShort
by TraderCobb
4