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Bitcoin: Bearish Divergence Analysis 1D (May 10)X Force Global Analysis: We have been approaching Bitcoin from a cautiously bearish perspective, as it has been overextended and overbought for days. After a 20% correction from the local high, we reassess its technicals - specifically through divergences - to determine Bitcoin's probable cases. Explanations of Recent Historical Divergences Case 1. Hidden Bullish Divergence - In this case, we see higher lows for the price, and lower lows for the indicators. - The Relative Strength Index ( RSI ) and Moving Average Convergence Divergence ( MACD ) both show lower lows - This bullish divergence played out to an 82% price movement upwards Case 2. Regular Bearish Divergence - In this case, we see higher highs for the price, and lower highs for the indicators. - Both the RSI and MACD show lower highs - This bearish divergence played out, leading to a -28% move Case 3. Hidden Bullish Divergence - In this case, we see higher lows for the price, and lower lows for the indicator - The MACD shows a decreasing trend of lower lows - This bullish divergence played out, leading to a 30% move Case 4. Hidden Bearish Divergence - In this case, we see lower highs for the price, and higher highs for the indicator - The RSI shows higher highs - This bearish divergence played out, leading to -24% in Bitcoin's price Case 5. Regular Bullish Divergence - In this case, we see lower lows for the price, and higherlows for the indicators. - The RSI and MACD both show higher lows - This bullish divergence played out to a 41% price movement upwards Case 6. Regular Bullish Divergence - In this case, we see lower lows for the price, and higherlows for the indicators. - The RSI and MACD both show higher lows - This bullish divergence played out to a 28% price movement upwards Bearish Evidence Case 7. Potential Hidden Bearish Divergence - In this case, we are seeing a potential hidden bearish divergence setup, with lower highs for the price, and higher highs for the indicator - The RSI shows higher highs, with further potential downside, despite a 20% correction from the local top Market Sentiment: The long short ratio remains at 63 to 37, with the market still dominated by bullish sentiment, despite a 20% drop. What We Believe While many bulls interpret this recent drop as a mere correction after a 160%+ rally from the local bottom, we believe that a corrective trend is in play, as suggested by a plethora of bearish evidence covered in our analyses. Trade Safe.
BITSTAMP:BTCUSDShort
by XForceGlobal
2
How Bitcoin will touch 10K again ?Bitcoin Bull view using 4H timeframe Bitcoin moving within a Channel Pattern and the most expected correction respected the channel pattern as well as the Fib retracement level of 61.8%. What is next from here ? 1. Keep buying within the price range 8100-8600 which respects the channel pattern and the fib retracement level of 61.8% 2. keep a tight stop loss level at 7800 3. Target should be around 10400 - 10700 which we can expect to touch by 20 May 4. Profit broadly can be 30% 5. If stop loss hits, you exit at 4-6% loss 6. RR = 6x, which is a decent ratio Stay strong and enjoy this correction phase !
Long
by kuberbindra1
BTC/USD Trend Following Strategyhello traders Over the years, many techniques have been used in stock markets, and as far as possible, before market movements, in seeking the best investment and maximizing profit. Two tools stood out in this area: fundamental analysis and technical analysis. The first seeks to determine the value of a company, analyzing the fundamentals of the company, and trying to estimate its cash flows. Technical analysis, on the other hand, gained popularity for those seeking short-term and medium-term gains, with operations based on methods and concepts, such as candlestick and Fibonacci numbers and Chat patterns. Despite the instrumental numbers, a technical and fundamentals analysis, studies the stock market, relates past events to the present scenario, and, mainly, a trend of the active target. It is this basic concept that is based on the Trend Following operating systems. Trend following is the most consistently successful trading style of all time in financial markets. Trend Following does not try to predict market movements, but rather to react to the movement that is happening at the moment, we never try to predict what is to come. BTC we are in clearly bullish trend with higher high and higher lows, we are above two important support levels, and above the short term uptrend line. We felt the 10 psicollogy resistance in the short term but the bull still in control. Please push like button, follow us on Tradingview and Telegram. Best regards, Sandro and Gustavo.
Long
by MarketMinds
5
Bitcoin: The Start of a Breakdown 4H (May 09)X Force Global Analysis: Bitcoin has shown weakened bullish momentum, after having tested the 10K resistance. In this analysis, we explore the probabilities of having topped out. Analysis - The first thing we notice is the huge bearish divergence that has formed on the 4H chart - We see a textbook bearish divergence, with higher highs on the price, and lower highs on the indicators - The lower highs formed on the Relative Strength Index (RSI) demonstrates weakened bullish strength - The Moving Average Convergence Divergence (MACD), also demonstrates weakened momentum, with lower highs on the moving averages - The MACD is also forming a death cross - We have formed an ascending wedge pattern, which is a bearish reversal pattern - However, as the ascending trend line support has not broken down yet, we are still in a phase of consolidation - We could expect a selloff dropping down close to the 0.786 FIbonacci support - This support level is also where the ichimoku cloud support converges - As the ichimoku cloud demonstrates signs of a clear uptrend, a break and close below the cloud could provide confirmation for a downtrend Market Sentiment: The long short ratio remains at 61 to 39, with long positions having reduced significantly. Nonetheless, these positions demonstrate that the market sentiment is still dominantly bullish. What We Believe As we have mentioned in our analyses before, while Bitcoin has shown a bullish trend, it has been overbought and overextended for such a long period of time. Testing 10K resistance levels has been part of our anticipated cases, as we continue to approach the market from a bearish perspective. Trade Safe.
BITSTAMP:BTCUSDShort
by XForceGlobal
" Will 10k be broken down ? "Daily BTC targets 08.05.2020Good afternoon to you everyone, Due to the strange manipulative actions taking place in the markets, they are moving the price up to new highs, let's prepare price levels that need to be reached in order to confirm the movement in one of the directions. From the side of the bulls there are orders in the zones 9300 and 9600, but due to the fact that the price is so overextended, bulls need to collect orders in more liquid price ranges. Market sentiment is at 55 on the fear / greed scale, suggesting us that there is confidence that the momentum of upcoming halving can push price above 10k. Bears on the other side put their big orders at 10k and 10.2k. In order for them to push the price down, they need to turn on the aggressive mode and place orders lower, but at the moment the orders are standing still, signaling us about their passive mood. If the levels are not broken then the day will be quiet Have a nice day and big profits
BITSTAMP:BTCUSD
by RussianExpress
Don't miss the great buy opportunity in BTCUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (9159.3). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . BTCUSD is in a uptrend and the Continuation of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 80. Take Profits: TP1= @ 10505.20 TP2= @ 12138.65 TP3= @ 13869.90 SL= Break below S2
BITSTAMP:BTCUSDLong
by ForecastCity
25
Don't miss the great buy opportunity in BTCUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (9159.3). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . BTCUSD is in a uptrend and the Continuation of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 80. Take Profits: TP1= @ 10505.20 TP2= @ 12138.65 TP3= @ 13869.90 SL= Break below S2
BITSTAMP:BTCUSDLong
by ForecastCity
32
WE WILL NOT INCREASE TO 10K, AND READ WHY! FOMO REKT IN 2020!I expecting a down trend before the halving, and why do i expect that? we had before at 2012-2016 a halving, and at that data the price did breakdown after the halving, but why not this time also? beacase the bitcoin become more known in year 2017 for the most starters. and since we now have the data, that bitcoin will breakdown before the trend, know the most whales and users know that a crash can happend after the halving. psychologies seen bitcoin must breakdown. THE MOST USERS KNOW NOW THAT THERE ARE SHOULD COME A BIG CRASH BEFORE OR AFTER, AND ARE NOT LIKE 2016 THAT BTC WILL PUMP FIRST BEFORE CRASH. AND WE HAVE ONLY 4 DAYS TO GO TO THE HALVING.. I EXPECT THE 10K WILL NOT COME, AND THIS WILL END IN BIG CRASH. @ if you like this post pleas give it a like, and follow for more updates Thank you
BITSTAMP:BTCUSDShort
by Protixder
8
#BTCUSD ANALYSIS.. IMPORTANT POINTS.. Bitcoin seems to please its investor as the halving approaches.. On the daily chart of #BTCUSD, important points draw attention.. First of all; Bitcoin is in overbought position on the daily chart .. Stoch RSI and RSI are at the overbought level, also the coppock curve has been at such a high level for the first time in a long time.. Although there is no clear sell signal yet, I think investors should be careful in Bitcoin .. I firmly believe that, we are about to see the leading signals of price drop .. I marked important levels on the chart, significant resistance is at $ 9500 and major support is at $ 7990.. Disclaimer: What I wrote is not investment advice.. Please do your own due diligence when it comes to crypto-investing.. Never put in money that you cannot afford to lose.. Invest at your own risk.. I wish you all the best..
BITSTAMP:BTCUSDShort
by OguzhanSengor
#BTCUSD ANALYSIS.. IMPORTANT POINTS Bitcoin seems to please its investor as the halving approaches.. On the daily chart of #BTCUSD, important points draw attention.. First of all; Bitcoin is in overbought position on the daily chart.. Stoch RSI and RSI are at the overbought level, also the coppock curve has been at such a high level for the first time in a long time.. Although there is no clear sell signal yet, I think investors should be careful in Bitcoin.. I firmly believe that, we are about to see the leading signals of price drop.. I marked important levels on the chart, significant resistance is at $ 9500 and major support is at $ 7990.. Disclaimer: What I wrote is not investment advice.. Please do your own due diligence when it comes to crypto-investing.. Never put in money that you cannot afford to lose.. Invest at your own risk.. I wish you all the best..
BITSTAMP:BTCUSDShort
by OguzhanSengor
Bitcoin | We Need To Watch out For These Bearish SignalsBitcoin ignored the bearish pattern: Few days back we have seen in my previous post that the Bitcoin had formed a rising wedge pattern on the daily chart. And it is considered as bearish pattern among the traders community and this is a fact that in most of the cases whenever this rising wedge pattern appears the priceline breaks down the support rather breaking out the resistance. In my previous article I shared some details based on some bullish signals by some indicators and the moving averages and I predicted that this time the Bitcoin will ignore this bearish pattern. And now finally we can see that on 30th April the Bitcoin turned bullish and broke out resistance of rising wedge pattern. The bull flags: In my previous article we have seen the bull flags on short term 4 hour chart, but now the Bitcoin has turned more bullish therefore these bull flags can be easily seen on the daily chart as well. And we and if we look at the chat then it can be easily witnessed that the Bitcoin is forming the third bull flag. At this time the candlesticks are being consolidated to form the next expected bull flag. But here I would like to share with you that there are some bearish signals appeared that can cancel this bull flag if the priceline will be dropped more than 100%. Priceline is struggling at the resistance of an up channel: On the same daily chart it can be also seen that the priceline of BTC has formed an up channel. The price action was entered in this up channel on 13th of March 2020 and at this time we can see that the candlesticks are hitting at the resistance of this channel. Since 29th of April this is the 5th attempt by the candlestick of leading cryptocurrency to break out the resistance but so far the priceline is moving sideways with the resistance. A strongest support and resistance block: At the same time it can be also observed that on the daily chart the priceline is tring to breakout the resistance block from $9,000 to $9500. This is the most strongest support and resistance block that the Bitcoin is facing since after the drop off Dec 2017. If we take a closer look at the chart then it can be easily witnessed that most of the times this block is working as a strong support and also as a strong resistance as well. At this time it is working as a strong resistance therefore the priceline of Bitcoin got stuck at this level. And in order to break out from this strong resistance block the Bitcoin needs a powerful buying volume. Bitcoin is following a certain pattern for bearish move that can be seen using these indicators: There are more than 5000 indicators available on the tradingview therefore I try to use the combination of the different indicators. And this time after a deep research I am using the combination of three indicators 1st: Vervorrt heikin-ashi long-term candlestick oscillator. 2nd: MACD custom indicator multiple time frame, this is the same MACD indicators that we use normally but this indicator shows the buying and sell signals with crosses. 3rd : Stochastic indicator. Ater placing these three indicators it is realized that since October 2019 the Bitcoin is following a certain pattern for the correction rally or bearish move.The Vervorrt heikin-ashi long-term candlestick oscillator is a powerful indicator that shows whether the priceline is in bullish or bearish trend. When it turns in green color it means that we are in bullish trend and when it turns in red color then it means that we are in bearish trend. Now after taking closer look on the daily chart it can be observed that whenever this vervoort indicator turns green then the MACD indicator 1st gives the sell signal and then again it gives buy signal and again it gives sell signal and on this third sell signal if the stochastic also gives the bear cross then the Bitcoin turns bearish and starts the bearish rally. It can be witnessed form 24th of October to 25th of November 2019. Then from 23rd of January up to 13th of March 2020. And if we see the current situation then the vervoort is again in green color and giving indication that we are in bullish trend, and the MACD has given a sell signal and after that we have received the buying signal and at this time the MACD has turned week bearish. Once it will give a complete sell signal with stochastic bear cross then we can expect that the Bitcoin will again repeat the same move and start a bearish rally. A down channel resistance on weekly chart: Now if we switch to the weekly chart then the movement of the Bitcoin strengthens our fear for the drop. Because on this weekly chart the Bitcoin has formed a down channe and at this time the price action of BTC has hit the resistance of this channel. This is very strong resistance that is not broken out since June 2019. Therefore if the priceline will be failed to breakout this resistance then it may start a bearish rally from here. Once the bearish move will be started then and there can be different theories that where the Bitcoin will move. So there can be different down move destinations. For example on long term weekly chart we have a 100 simple moving average support at $7100 the Bitcoin may re-test this support again, or the 200 simple moving average support is at $5700 if the price action of Bitcoin will break down the 100 SMA support then it may be re-test the 200 SMA support. But in my opinion if the price action will be dropped from here then first it will retest the support of an up channel that has been formed on the daily chart and that support is around at $7800 once that support will be broken down then we can expect the further drop upto 100 simple moving average and then 200 simple moving average on the weekly chart. The big bullish Gartley has done its job: Here I would like to recall the very big bullish Gartley pattern that is formed by the priceline of leading cryptocurrency on the long-term monthly chart. I've been posting this Gartley pattern in my different previous articles as well. The buying zone of this Gartley pattern starts from $7231 and ends up to $5424, and the as per Fibonacci sequence of this Gartley pattern the sell zone starts from $8654 and ends up to $12070. And now we can see that from the buying zone of this bullish Gartley pattern the price action took a powerful bullish divergence as per prediction entered in the sell zone. Now the question arises that “is the game over now? or the price action will continue this bullish rally ? “ The answer is that even though the sell targets of this bullish Gartley pattern has been achieved but still we have very powerful supports of 100 and 200 simple moving averages on the weekly chart unless these supports will be not broken down we can still hope for a powerful bullish rally. Conclusion: At this time the Bitcoin is fighting with the resistance levels on the daily chart and also on the long term weekly chart as well. Based on some certain indicators Bitcoin can start a correction rally and may re-test the support of the channel that has been formed on the daily chart.
BITSTAMP:BTCUSDLong
by moon333
Is This V Shape Recovery Of Bitcoin Is A Warning For A Big Drop In my previous article we have seen that the Bitcoin was forming bull flags on the small time period 4 hour chart and during the bull flags formation the price action also formed a down channel. And after breaking out the down channel resistance the Bitcoin was forming more bull flags. The price action was being consolidated in next expected flag and now it can be easily seen that the price action has taken another bullish divergence and now we can expect the new bull flag. Bull flags formation of daily chart: Now the Bitcoin has turned more aggressive in forming new bull flags even the these bull flags can be seen on the bigger time period chart as well. If we switch to the daily time period chart then it can be easily observed that so far we have received two bull flags and now the 3rd bull flag is expected. Rising wedge the bearish reversal signal is being canceled: As we have discussed in my previous article that a bearish reversal pattern is appeared on the daily chart and that is the rising wedge. This is strongly considered a bearish reversal pattern among the traders community but this time the priceline is likely to breakout the resistance of the pattern rather to break down the support. If you look at the chat then a strong bullish candlestick is crossing up the resistance of the rising wedge pattern and this bullish candlestick is also crossing up the 100 in 200 simple moving average resistance levels. And once the priceline will be completely closed above these resistance levels then we can consider a complete breakout from this rising wedge pattern after that the priceline may re-test the resistance of the rising wedge pattern as a support and move up again or there is also a possibility that the price action will turn more bullish and move more up without retesting the previous resistance as support. However if the priceline of the leading cryptocurrency won't be able to completely break out the resistance of the rising wedge pattern and if it will break down the support then it can be moved up again after hitting the $5700 levels. Because the volume profile of the complete pattern is showing very low interest of the traders below this level. Is this V shape recovery is warning of Kiss Of Death? Now let's talk about the situation that most of the traders are talking about and that is the V shaped recovery of the Bitcoin. After strong bearish move the Bitcoin has started a bullish rally that has formed a V shape and most of the traders are thinking that after a strong bearish move this V-shaped rally is a warning to a big drop that is also called “Kiss Of Death” and this expected bearish move can lead The priceline to retest the previous low or it can be moved more down. But if we see the recent bearish rally that was started from 13th of Feb 2020 then during this rally the Bitcoin has formed a price rejection line from where the price action of Bitcoin has been rejected again and again. And finally after been rejected on 9th of April on the second attempt on 16th of April the priceline of leading cryptocurrency has broken out that rejection line. This rejection line was very strong resistance for the Bitcoin now it is working as a strong support therefore if the price line will move down from here then this support will stop the price line to move more down than this level. Will Bitcoin be rejected by EMA 21 on monthly chart? Now let's talk about another situation that the traders are talking about. And that is on monthly chart. Here most of the traders are thinking that if the priceline of Bitcoin will be rejected by the exponential moving average 21 then there will be more chances of this Kis Of Death Situation. But this theory is wrong because if we see closely on the chart then it can be clearly observed that sofar the price action did not break down the EMA 21 therefore using the word “rejection” is not appropriate. In fact the price line is getting bounced from this exponential moving average. We would use the word rejection once the priceline completely breakdown this EMA 21 and then it would try to move back and break out this exponential moving average. Even we have a kind of double bottom situation on this EMA on this monthly chart. And we have two more bullish signals. If we see the candle stick of 1st Jan 2020 then it is a strong bullish engulfing and now on the current candlestick that was started on 1st April we can see that this is another bullish engulfing candlestick. Af these two more bullish signals we can expect a powerful bullish move from here. The Bitcoin has broken out the 100SMA resistance on long term chart: Now if we switch to the weekly chart then we can easily see that 1st the candlestick has taken a strong bounce from the 200 simple moving average on the weekly chart. And now broke out the 100 simple moving average. After the complete breakout the priceline will have very strong support of these two simple moving averages and it will be easy for the priceline to hit the next resistance level at $12325. The big bullish Gartley has done its job: Here I would like to recall the big bullish gartley pattern that has been formed on the monthly chart by the price line of Bitcoin. After entering in the potential reversal zone of this big bullish gartley pattern the price line is getting bounced and moving towards the Fibonacci projection area of A to D leg. Now for the safe trade if you have bought the Bitcoin from the potential reversal zone as I have defined on the chart then you can sell it between the sell targets that I have defined as Fibonacci sequence. But I am expecting that this time the priceline will turn more bullish and will make another attempt to breakout the $12325. However the stop loss is important therefore the potential reversal zone of this bullish Gartley pattern or the 200 simple moving average on the weekly chart can be used as a stop loss. As per Gartley targets are as below: Buy between: $7231 to $5424 Sell between: $8654 to $12070. Conclusion: The bearish theory for rising wedge pattern is likely to be failed this time. A resistances are converting to supports for Bitcoin. The bullish journey that was started on hourly chart is being converted to monthly chart that can lead to more powerful bullish move. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
BITSTAMP:BTCUSDLong
by moon333
3
BTCUSD | Horizontal Resistance is Important To Watch On Please support this idea with LIKE if you find it useful. Price broke the first Horizontal Resistance on 7.800$ and took off. Currently we are testing the 8.300$ Horizontal Resistance Zone (previously served as a support for H&S). In case there is a confirmed breakout we can initiate a long position. Rejection can lead us to the lower Horizontal Support zone. In this case we will wait the confirmed retracement of the Horizontal Support and can initiate a long position Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable! Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial Advice.
COINBASE:BTCUSDLong
by Anpu
7