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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:BTCUSD.PShort
by TraderCobb
4
BITCOIN | One of The Possible ScenariosHi, This sideways movement starts to become pretty boring. I haven't seen a while good trading opportunities with Bitcoin. I want to keep my followers updated but I just cannot see a point to do that if there is nothing interesting. I looked at it from one angle, I looked at it from another angle and the result is in front of you. The most likely scenario would be a downwards movement which should get fully confirmed after the price has managed to break that black counter-trendline and it has to get a candle close below of it to be fully confirmed breakout. All the current price action should stay inside the expected channel range (blue lines) and this counter trendline break should open the door to the downwards, to the ~8,500. There is a round number of $9,000 and some EMAs to making this movement harder but possibly they cannot stop it. So, if we get a candle close below the current short-term counter-trendline then the target should stay $8,650 (always be less greedy than others) ;) To think a little bit forward then this target area could be also another trading opportunity for buyers - it is also a possible reversal area. This move gets confirmed after we have seen a bullish reversal indication candlestick pattern around the red a green area. Reversal area consists of: 1) Fibonacci retracement 62% 2) Strong area/support/price level ~€8,500 3) Channel projection 4) AB=CD 5) Fibonacci extension 2x 6) Middle nr. $8,500 itself should act as a support level. 7) As said, to be more secure, wait for a bullish candlestick formation from the marked area. If the price starts to approach that reversal area then definitely I'll make an update! If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You! Regards, Vaido
COINBASE:BTCUSDShort
by VaidoVeek
53
BITCOIN | The Last Chance!Hi, I would like to share my most recent analysis of BTC/USD. Hope this helps you identify some strong areas, directions, danger zones, etc. Let's start from the Weekly timeframe(TF). The orange line is Weekly EMA50. Four weeks in the row it has held the price and last two weeks the price has got tiny rejections upwards of it. Plus, there is the round number of $8,000 and 2018 July high, they should add a bit strength to the current support area. So, the current support (around 8k) has held it. I cannot say "nicely" but it has held the price which is the most important starting point for further analysis. The Daily TF If we look inside the Weekly candles then we can see more accurately how strongly the current support area has held the price. Several rejections between $7,800-$8,000 and some of them have printed bullish candlestick patterns after the rejections. There is a bit sloppy Bullish Engulfing, textbook bullish Engulfing and now, after yesterday's candle close, we got another, third, bullish candlestick pattern. This is not a textbook example but still, considering the price action it resembles with Morning Star. Recently, the Bitcoin price made a breakout from the bullish chart pattern (more about it in the 4H chart section) and it manages to break above the strong area. To be said, I still, wait for a rejection upwards but to be honest, it looks damn hard to get it. We have caught some short-term movements but nothing more than that but as said, I'm still waiting for a bounce to the key area: $8,950 - $9,200. The price action has not given any bigger signs to think differently but the time, spent around 8k, starts to say something - it has been too long around the 8k. If the price stays too long around the potential bounce area it decreases to trade success rate but I believe that the current push is the last chance. If Bitcoin price doesn't react positively after yesterday's price action then it goes down and the critical area is mentioned in the 4H TF section. Daily summary: + The price has got multiple rejections upwards from 8k. + Almost all rejections have ended up with some bullish candlestick patterns. + At the moment, we have a short-term higher high and higher low. - It has been too long around the mentioned support area without any significant move. 4H TF Firstly, the old dept: "The Bitcoin price made a breakout from the bullish chart pattern". Saturday, the BTC price made a break above the bullish chart pattern called "Falling Wedge". Actually, this is too deep to be a perfect pattern but still, the price managed to crack the counter-trendline (pattern upper trendline). As I have notified several times about the counter-trendline breaks - if they break then it will be usually a pretty strong continuation sign to the breakout direction and the current result is front of you. The short-term counter-trendline break guided to price above the $8,000 and above the strong price level $8,100. I mentioned before that critical area, this is it. Firstly, be cautious if the price starts to fall lower than $8,100. Secondly, be alerted if it starts to fall lower than $8,000. As said previously, this is the last chance to go higher from the current levels and if the price starts to fall lower from the prementioned critical levels then it will drop. I cannot say exactly how deep it will fall but definitely I will make an update if this occurs. Okay, the last chance to go upwards but where is the optimal entry to the wave upwards? The answer would be: from the current price until $8,075 Pros and cons: + Weekly EMA50 and $8,000 have held the price but can it push the price?! + Bullish candlestick patterns and bullish price actions from Daily TF + Short-term higher lows (HL) and higher high (HH) + Break above the short-term counter-trendline + Break above the bullish chart pattern called "Falling Wedge" + Break above one of the key price level $8,100 + The latest bounce upwards occurred with RSI Divergence + The latest bounce upwards occurred from the trendline. Not a significant trendline but still, it held the price. - Time spend around 8k - Lack of buying power. - The pressure is pretty high, so a tiny shake-off and it will "collaps" Targets: If "the last chance" works out then there are orange price levels above the current price: $8,300 and $8,455. These are the major horizontal obstacles, okay let's call them resistances :), to go upwards. This is your choice, how to react if the price reaches to those levels but the major, the ideal target is slightly below $9,000. Channels, waves, pattern targets, mid-term retests and etc. are pointed to the mentioned level. These were my thoughts about the current situation of the market. If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You! Best regards, Vaido
COINBASE:BTCUSD
by VaidoVeek
36
BITCOIN | Risky Buy Opportunity!Hi, I would like to make a quick post about the current action on the Bitcoin chart. Actually, this is a pretty risky short-term buy opportunity but I would like to mention it anyway. Risky, because I don't really like the price action in the previous 4-5 days. It has been really bouncy and actually only the visual thinking helped me to make some profits today to make a little "short" scalp but that's all. Why I thought that the price may come down was the green. I don't even wanna talk specifically about the criteria, let the "pros" comment in my comment section (lol, book masters) but the area around $8,000 has been on my watchlist after the 13. of October high. It is also a bit risky and mixed because we have bullish&bearish candlestick patterns on the Daily and they both are active. I'm just a bit more bullish (that's why I would like to share this area) because we have short-term higher highs and higher lows, plus the price has to reach to the higher levels before one more leg downwards. Quickly the criteria: 1. Channel 2. Channel 3. AB=CD 4. Fibo Ex. 5. Round number 6. Bullish Daily candlestick pattern 7. Short-term higher high and higher low 8! The area and the pressure is risky so, definitely wait for bullish candlestick formations: - 1H: Engulfing, Morning Star - 4H: Hammer, Spinning bottom, bullish Railway tracks, bullish Engulfing, Morning Star If you don't see those patterns then obviously this trade is invalid!! If it was helpful then take a second and support my effort by hitting the "LIKE" button, it is my only fee from You! Best regards, Vaido
COINBASE:BTCUSD
by VaidoVeek
27
Bitcoin Dominance Falling WedgeSo we can see a falling wedge on btc dominance, which was unphased by the btc dump - seems strong. this tells me it's possible we remain in this wedge and retest a double bottom at 68.25 or below. A bitcoin pump can cause a bull break, but for now as long as dominace remains inside this wedge, alts will continue to grow nicely. But beware, Bitcoin can rekt alts in a hearbeat, so be very careful. As for Bitcoin , what a fakeout! That pump and dump destroyed many hearts and wallets. AFter we broke that bull flag bullish, whales knew sentiment was extremeily bullish. What an epic trap for emotional traders. They're not going to give that up so easy. Now that we have apparently tested for support, it is possible to see btc pump. How much is the question. There is going to be massive sell pressure at around 9k, if we make it that far. It's the same thing we faced in the pump n dump, except after the dump, now there are many bearish traders to trap. Should be interesting. On the 4hr we have upticking histogram along with a potential bull macd cross. Let's see how this plays out. For now I'm looking at alts. There are some pretty looking charts. But being very careful and patient. I am rarely long on alts along with bitcoin at the same time, however, this is the curent cast for me. Let's see what the market does. Tomorrow is Monday, so there should be an attempt to 9k shortly. Also The FED is helping us out with the massive repo market bail out, and now they have started buying 80B treasury bonds monthly. They must love us considering all they are doing to ensure bitcoin's epic success. I apologize for being away since I got back from vacation. I have some new members and was ensuring they don't get lost and understand the strategy and system. I will be updating on TV on a regular basis again.
CRYPTOCAP:BTC.D
by ChartCrushers
3
BTC Inverted Dragon The tragedy of faith Important areas FiguresBTC - potential shapes of technical analysis figures depending on the breakout / price retention levels. A huge symmetrical triangle - a bear measured move - Triple top - Inverted Dragon. BTC / USD 1 week. I will write the zone algorithm and what will be drawn on the chart depending on the retention / penetration of a certain zone and levels. ________________________________________________ A very important area of $ 7,000, all hopes for it. From it, there can be a movement up and the symmetrical HUGE TRIANGLE is drawn. It will be our victory and hope! As working up / down -50/50. As you can see, from the very beginning of Bitcoin trading, this has already happened more than once. If we assume that we will not hold this zone - as a result the residual confirmation of the “Bear measured move”. In 2014-2015, this formation - “Bear measured move” was formed and worked out. BTC important areas on which further movement depends The breaking of this zone will also mean - the break of the "Dragon Ridge" (uptrend line) Figures "Inverted Dragon" The first goal for the "Inverted Dragon" is the zone of his "Hump" - the region of $ 3200. Inverted Dragon. The figure is rare. But almost always fulfills. CONFIRMATION OF THE FIGURE WILL HAPPEN WHEN: The uptrend will break. This is the yellow line on the chart (Dragon Ridge)! ____________________________________________________________ If we hold the zone of $ 3200 and the price goes up, the "Triple Top" will be drawn - the target is around $ 7000. Then you need to observe how the price will continue to behave. Or work out a fall from the "Triple Top" or conquer new heights of price. __________________________________________________ The opposite situation, if God forbid, we will not hold the zone of $ 3200 (squeezes and takeaways do not count), I mean if the price fixes for a long time below this zone. Most traders will see which figure is drawn and what is confirmed. This will be a complete confirmation of the “Inverted Dragon”. And the second goal (the first area of the "Hump") is "Dragon Tail." Price will fall in an avalanche. How fantastic are the goals for developing shapes. As an option, we can’t stop at the last high of the 2014 pump ($ 1,100). It’s even hard to imagine the residual target of Dragon Tail - this is an area of $ 200- 70-80. I do not know what will happen for this, probably the event is equal - to the third world war. __________________________________________________ I’ll write a couple of lines about the “Inverted Dragon” figure. “Inverted Dragon” is a reversal pattern that indicates almost the very beginning of a trend reversal. The formation of the “Inverted Dragon” tells the trader that the mood in the market may change soon and the current trend will unfold. The figure is a more modified version of the “Double Peak” figure, while signaling a change in the bull market to the bear market. But there is one fundamental difference from the “Double Peaks” figure. A prerequisite for the formation of the Dragon is a trend line drawn through the head and hump of this model ("Dragon Ridge"). It is important that this trend line is clearly visible on the chart. The trend line plays an almost decisive role in the figure. “Inverted Dragon” and “Dragon” are not very common on charts. With the correct identification and understanding of the work, you can get a good profit on various time frames. The “Inverted Dragon” shape and its mirror image “Dragon” are very similar to the “Double Peak” and “Double Bottom” figures, however, they also have significant differences, which will be described below. _________________________________________________________________ The potential profit corresponds to the length of the Dragon Tail, which, as a rule, is equal to the height from the point of occurrence of the trend line to the minimum point of its "Head". Simply put, the entire length of the Tail is your potential profit. Objectives of working out the figure "Inverted Dragon": The first goal will be at the level of the last minimum - the level of "Hump". The second goal will be at the very minimum value of the figure - the level of the "Head" or from the breakdown of the level of the "Dragon Ridge" - all growth from the "Head" to the highest point of the "Paw" is superimposed. __________________________________________________________________ Be smart, act on a situation, not faith. Faith - kills. There should be a strategy and plan. At the same time, your strategy and plan should be plastic from market situations. Count in trading all your and others' options for action in advance. If you trade because of hopes and expectations, and not according to a trading plan, you follow a nervous and unprofitable crowd.
BNC:BLX
by SpartaBTC
5