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BITCOIN | Bull Flag and Downtrend Breakout?!Hello traders! Now we can see BTC trying to break downtrend resistance for the 3rd time. For this breakout we have Bull Flag and need to breakout it to reach its target: 16600$. Target for Bull Flag is measured by height of flag pole. Also on chart we can see forming Head and Shoulders pattern, which is reversal pattern. It targets also coincides with Bull Flag Target - 16600$. Is it safe to buy now for short-term? - No, we should see some retracement in next few hours. Is it safe to hold it? - Yes, in long-term we in bull market. What about altcoin market? - Some of them will move in downtrend to important support zones. Some of them will follow bull phase.
BITFINEX:BTCUSDLong
by ArShevelev
22
Bitcoin adventures - long or short? Time to go back to the basics and apply the KISS principle. Bitcoin is having great adventures again, but what can we expect going forward - just a quick 5 - hopefully educational - cents to complement other authors' analysis. Here above a relatively basic chart on the daily tells us a couple of things: --> The MACD is nearing quite the bullish cross . Every time this happened in the past, a nice gain followed. --> The RSI is generally aligned with the MACD , it shows us relatively clear confirmations of the buy signals. Also in this case. --> CCI is not shown but is in line with the RSI (currently quite strongly in the oversold region) --> We are at the lower end of the Bollinger bands (but note that the lower boundary of the band is still in a negative trend) So... The daily chart ALMOST tells us to buy (not yet, but we are close). BUT: important remark: we also have to look at the weekly chart, and... that one tells us a different story! The MACD there is currently closing quite the death cross , and we are just above the half line of the Bollinger bands, which would imply more room to fall is not impossible. In general, I would assume that this could more or less be translated into: some more blood, then a nice upward recovery, and then some more blood. Also look at how the Fibonnaccis interact in this story. On the daily, the 50% level was tested yesterday. Today, we see a test of the 61,8% level . Probably the most prudent way would be to start accumulating a position gradually, taking advantage of any further dips (or if the trend starts to show us clearer skies, on the dips in the upward channel), but remain somewhat at the sidelines, keeping dry powder. Especially for the ones intending to hold for some time. Note that this is by no means to be considered as formal investment advice
BITSTAMP:BTCUSD
by A_Cryptastic_Mind
6
Bitcoin With Possible Long Setup In The FutureHey guys, Hope you made also profit with our Bitcoin trade from last week! Now, we gonna wait for a pullback and when we see a clear structure we will buy it again. BUT the market needs to give us the structure and currently, there is nothing to trade as of for right now. So we will be on the sidelines and once we see our structure we want to have, we will update the chart. We dont like the idea of selling, we only want to buy Bitcoin! (Please dont sell!!!) Anyway, we wish you a successful day and trade safe. Cheers
BITSTAMP:BTCUSDLong
by secrets2trade
4