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Bitcoinbearish

BITCOIN BREAKS DOWN: FALSE BREAK OR MORE DOWNSIDE?Hi guys, this is OG back with another Bitcoin update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below. Bitcoin just broke down from the confluence of support zones, namely the trendline support @ 38.5K, the previous swing high also @ 38.5K and the 200MAs on the 1H timeframe @ 38K. Upon the breakdown, we also saw a spike in volume, suggesting that there is conviction in the breakdown. The question now is if this is a false breakdown or if price will continue to crash lower. A couple of scenarios below: 1. For me to consider this a false breakdown, I would need to see price close above the high of the breakdown candle, which is @ 38.6K. And if that happens with a large body candle alongside strong volume, I would actually consider entering a long position, as it would be the first successful bounce off of the 200MAs after price broke above them. 2. If the low of the candle following the breakdown candle, which is @ 37.5K, is broken, and especially if a 1H candle closed below that, then this is likely a genuine breakdown, and depending on how far down price has gone when this happens, I might consider entering into a short position. If price has moved down quite a lot, then I will likely pass up on the trade, whereas if price hasn't, then there will be more room for price to move down, and I'd be more interested in taking the short. The reason why I'm not jumping into a short right now is because while price did break down from the support zone, it barely closed below the 200MAs, so theres still a chance for a bounce here. Had price closed further down beyond the 200MAs, I would have entered a short on the breakdown candle close. Of course, ultimately you decide how you want to trade this and whether to enter a trade now or wait for confirmation or pass up on this setup altogether. FYI: I use long or short simply to indicate whether the market is bullish or bearish, not as a signal to go long or short at the time of publishing the idea. Check out my technical analysis videos for more in-depth analysis and trade setups for Bitcoin, Ethereum, and Altcoins. Why follow? 1. Community of Technical Analysts sharing analysis and trades 2. Live tracking of whale wallet movements 3. Live update of the latest important news 4. Live syncing of popular crypto tweets 5. Ebook covering how to be profitable in the cryptocurrency market As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
Short
by cryptotraderog
Bitcoin Yikes!!! (3W)Bitcoin on a 3w chart analysis, like I said before on my 3D chart analysis be careful and make sure to set up you stop losses. Don't act dumb and just think Bitcoin was at 3,300$ bottom in early 2020 and now it hit a high of 6,400$ in mid-2021, All I am saying is don't be bull high and the last chance for Bitcoin to remain bullish is for it to retest the 42k support area. Keep u all updated if anything has changed and remember trade smart not dumb.
BNC:BLXShort
by Popwwe123
9
Insane Stupdity Bitcoin Next Move for Two Months PredictionLast six months have been bullish, and with each green there is a need for healthy correction which we have not seen yet in the monthly candles. While going through the all time data, i have identified an strange pattern, and I Guestimate that the upcoming two months might be a bearish ones for Bitcoin. Here is the table below: Sr. No Ratio Start End Period 1 5:1 1-Apr-12 31-Oct-12 6 2 6:2 1-Nov-12 30-Jun-13 8 3 2:1 1-Jul-13 30-Sep-13 3 4 2:1 1-Oct-13 31-Dec-13 3 5 4:1 1-Sep-15 1-Jan-16 5 6 1:1 1-Feb-16 31-Mar-16 2 7 4:1 1-Sep-16 1-Jan-17 5 8 1:1 1-Feb-17 31-Mar-17 2 9 5:1 1-Apr-17 30-Sep-17 6 10 3:1 1-Oct-17 1-Jan-18 4 11 5:3 1-Feb-19 1-Jul-19 8 12 2:1 1-Apr-20 1-Jun-20 3 13 2:1 1-Jun-20 1-Sep-20 3 14 6:2 1-Oct-20 31-May-21 8 If you go through the Sr.No (2) you would see that the cycle was followed by 2:1, 2:1 ratio for BTC uptrend. later the trend follows 4:1 , 4:1 trend, then the trend is bit different, perhaps, the this is the period of ICOs Boom, which attracted many. Not interesting yet? Now bear with me, add Sr.no 5 & 6 (4+1,1+1 = 5:2) before that we have 2:1, 2:1 & 6:2 trend. Assume for instance that this cycle is going to be 6:2, interstingly, the cycle has played the same pattern as mentioned in Sr.no 2,3,4,5 (collectively leading to 5:2), but in reverse order. The markets have been matured good enough, and there may be many factors that have distorted the price. I request the Expert to explore this phenomena in lenght. Note: i have ignored the consolidation periods.
BITSTAMP:BTCUSDShort
by AZAM2021
6
BTCUSD Short Term Bearish Move - $42K possible?If this Red RSI in the 90 minute closes below 50, then the white energy in the 90 minute needs to close above 50 before the Red RSI in the 3H closes below 50. Right now, with that angle of descent, that looks unlikely. AND, if the 12H Green closes below 50, especially with the Red RSI heading down strong with it, we could see a Bearish move to the Yellow Basis Bollinger Band, near $42K This is not trading advice. Phoenix Ascending Indicator by @WyckoffMode - thanks to David for AAAALLLLLL the education he provides on this platform for free.
BITSTAMP:BTCUSDShort
by NoCreditsLeft
Bitcoin Bears are Forcing a Retracement - $17.5 test likelyBitcoin is clearly on a retracement pattern. The gains have just been too strong and the market is venting. The test of the 0.236 fib. retracement at ~$17.5k seems inevitable. This may not be the strongest support as Bitcoin is breaking the higher lows trend line (upper green arrow). That leaves $17k to hold. Keep in mind the massive gains on Bitcoin over the last weeks and month. A retracement seems healthy to have and gives the bulls a breather and opens up investment opportunities before the departing to new all-time highs. The 0.382 fib retracement just above $16k seems also be a fair bear cave to seek. Remains to be seen if the bulls can scare the bears away from that direction. It is treacherous territory however as we are moving out and about all-time highs with plenty of short bears trying to make their gains in pulling Bitcoin down as everybody seems to be fixated on Bitcoin breaking the 20k margin for good. As altcoins are not using Bitcoins weakness to gain on Bitcoin we are in a downward channel and Bitcoin will have to proof at one point that it's still riding on the bull. So short-term (next couple of days) my mood is short on Bitcoin...mid-term neutral (next couple of weeks) and long-term still very much bullish.
BITFINEX:BTCUSD
by CarpeMomentum
#Bitcoin Short Scenario #BTCTake a look at this chart and please understand that this is not trading advice. I am simply taking notice of the larger trend that BTC has been trading in and continues to trade in. Any hope and dreams of this being more than just a wick at this point are just that, hopes and dreams...the fact of the matter is that until we can prove that this is a reversal impulse move that will get us out of the bear trend, we remain in a bearish channel just above a support that if broken could be catastrophic for the BTC price. Full disclosure, I have a short position on margin and a long position with no margin. I use shorts to hedge and I believe this is a great hedge position to have. The fact of the matter is that this view on Bitcoin's price action over the past several months is valid and should not be discounted. Of course we want Bitcoin to reach $30k tomorrow! But traders need to be cautious to not let their emotions steer them wrong.
KRAKEN:BTCUSD
by Optimus_Pr1me
1
BTCUSD A chance to hit Moon or another fall after Fib 0.618BTC has had an unexpected and sharp rise last few days the price went up to $5 275. Usually such pumps end within few hours or a day consequently, we had a first sell off wave yesterday and the price went back to $4 750 level. Nevertheless we see a confident trade volume growth, currently BTC is still in bullish mood. Price moves above EMA 50, 100 and 200. There is a high probability of breaking through psychological resistance level of $5 000 again. However in case of success within a week the price will meet the most important resistance level of Fibonacci 0.618. Our analysis is based on 0.618 Fib Symmetry Intact. Fractal structure can be seen at the 1-day timeframe chart. The first formation starts on the 4th March 2018 when the price went down to the Fib 0 support level, consolidated and grew up to Fib 0.618 resistance. It didn't manage to break it and decreased to a level around previous support zone. It happened two more times and now we have the same situation the price touched 0.618 level and correction started. It is not a short signal, the volume grows confidently and the price is still above EMA200 level. The next week is very important for Bitcoin. Its price will either solidly consolidate above EMA200 level, which will inevitably allow to break through 0.618 resistance and trigger a massive “bullish euphoria”, or will again bounce back to Fib 0 support zone around $3 172. There were many good fundamentals last month and more come out each day. This is a 4th time Bitcoin price tries to break through Fib 0.618 and change the global trend. Our opinion is that BTC has chances to start a new bullish run. Overall we should carefully track price movement and open short positions once the price moves below EMA200 around $4 600 level
by Skyrexio
Bitcoin Today: No ETF decision on August 10 Price Yesterday BTCUSD fell sharply, breaking the 6800 support on the way, after SEC statement on the prolongation of decision period for ETF applications. The price did stumble on 6600 support for a short time, but after a while broke below and now trading around the 6500 level. 6000 is a near-term target, by reaching it Bitcoin will erase all gains and positiveness from the July growth, which was provoked mostly by the speculations about ETF applications. For now, overall price pattern is bearish with a target on 6000. A breakthrough below 6000 will send the price to 2018 minimum at 5750. Nonetheless, 6000 level should have strong supportive value, as it is close to the 2018 min, so a bounce-off from this level is probable. To gain any positiveness we need to see the price moving above the 7000 level in nearest term. Today forecast Trading in the 6000 – 6800 zone. Latest news The SEC has extended the decision-making period for VanEck SolidX Bitcoin-ETF until September 30 SEC (US Securities and Exchange Commission) has extended the decision-making period for the application to List and Trade Shares of SolidX Bitcoin Shares Issued by the VanEck SolidX Bitcoin Trust. This is stated in a document published on Tuesday, August 7, on the Commission's website. Initially, it was assumed that the meeting of the Commission, at which officials will decide on changes in the rules of trade at the Chicago Stock Exchange (CBOE), where the fund should be traded, will be held on August 10. However, this date has now been postponed to September 30. The application of VanEck and SolidX was filed on June 6. If the application approved VanEck SolidX Bitcoin Trust will be immune from theft and loss of funds. It will also be tied to a new index from Van Eck, which instead of exchanges will collect the price of bitcoin from US-based over-the-counter (OTC) platforms. The price of VanEck SolidX Bitcoin Trust shares was set at $ 200,000, which means that the new ETF will be primarily targeted at institutional investors. Earlier, a source in the SEC, who wished to remain anonymous, made it clear that the agency was interested in approving this application. News almost immediately affected the course of bitcoin, which, having risen during the day's session above 7100, went down sharply, dropping below 6600 as on 8 August 8:30 UTC.
BITFINEX:BTCUSDShort
by DestinationMoonCrypto