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Bitcoin | Expanding Triangle & Crucial Support..!!#BTC (Update) In Shorter Timeframe, Bitcoin Forming Expanding triangle Pattern...!! 3 Days ago, Bitcoin tested the 10.4k Resistance (Higher High) but Rejected it. At the Moment, Holding the Crucial Support (9.3k) But Big Move Ahead. Now There Are Two Possible Scenarios.. 1- If Bulls lost the Support, Bitcoin might form Another Low (Might test 8k Area) 2- In Bullish Case, If Bulls Held the Support & Bounced Back 📈 , It Might Test the 10.6k Area (Major Resistance) Be Ready for Both Bearish & Bullish Scenarios..📌 In Weekly Chart, Printing 9th TD Bearish Candle & Still Below the Major Downtrend Resistance 📉 If weekly Candle Closed Below trendline, Bitcoin Might Crash Again in Coming Days..!! Another Weekly View...!! Expecting Bearish Wave before Triangle Breakout... (6666 then 19191) Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!
BITMEX:BTCUSD.PEducation
by Faibik
5
Bitcoin: Finding support & resistance basics 🤓Welcome to the VAPORWAVE_TECHNICOLOR_DREAMHOUSE~~~~~ Before we get into it show your support and give me motivation by clicking LIKE 👍🏽 I’ve been asked multiple times how to identify support and resistance so I wanted to write something up to share with you all 🥳 Let’s start with some definitions Support - the lowest point a price falls to repeatedly in a given time frame. This price is held by investors placing BUYs as the price drops, holding it steady. Resistance - the highest price hit repeatedly for a given time frame. as the price goes up more traders are looking to cash out and SELL, limiting how high the price is capable of going. To find support and resistance values pull up a chart with a long time window, start with 1 month and work down to 1 hour. In the chart above we’re looking at BTC/USD over the last 18 months and we can see I’ve outlined the follow values I consider to be solid support or resistance. $3128 $4131 $5576 $6910 $7200 $7583 $8523 $9159 $10307 $10761 $13863 Now these numbers are derived from price patterns, looking at where the candles seem to stop going up or down and finding multiple instances of this, which will indicate the “strength” of the price. Prices may seem arbitrary but they come from other trades, where they expect a price to go (via historical data or word of mouth) and as continued values become ingrained into the minds of readers we can use this information to make informed decisions on which way we expect a price to break and where it might end up when it does. Look at the prices and consider that other traders have the same idea you do and use that to your advantage. As always remember the golden rule to success 🔑 BUY SUPPORT SELL RESISTANCE Cheers, Banana PS. Like this idea and want more? Join Flash Trading for daily discussion and calls!
COINBASE:BTCUSDEducation
by xBanana
1
Continuation patterns - Bitcoin forming a Bear FLAGA trader can spot trend extensions with the help of bullish or bearish continuation patterns, which occur in a variety of easily identifiable shapes, some of the most popular of which are known as bull and bear flags. A bull flag is appropriately spotted in an uptrend when the price is likely to continue upward, while the bear flag is conversely spotted in a downtrend when the price is likely to sink further. (While the implication of the pattern is far more important than its name, the “flag” terminology derives from its visual similarity to the fabric you’d see hanging outside a government building.) Each flag pattern consists of two main components: the pole and flag. The “pole” represents a strong impulsive move (higher/lower) and is backed by a surge in trading volume and the subsequent pause or consolidation the “flag,” which looks like a falling or rising channel. The flag pattern can be invaluable for a trader in that there are clear points of success and failure to profit or mitigate risk from. If resistance breaks in a bull flag, the trader can be confident price will continue upwards roughly the length of the pole (popularly known as measured height method). If support of the bull flag is breached, the trader knows the pattern is invalid and continuation is unlikely. The exact opposite is the case for a bear flag. Is this method 100% safe? Bull flags and bear flags can be a trader’s friend in strongly trending markets, but they do not always perform as advertised. In some cases, the pattern can present a trap known as a “false breakout” when price breaches the boundary of the flag and quickly retraces. Waiting for a candlestick to close outside of the flag tends to add credence to the breakout, and can help the trader mitigate risk. As a trader, you would want to avoid betting or punting on an asset price if the bull flag breakout of bear flag breakout is not backed by strong volumes. A low volume move usually ends up trapping investors on the wrong side of the market. Further, using indicators like the Relative Strength Index (RSI) to gauge scope for a rally following a breakout can help boost traders’ success rates. If you like it, please support it liking and following! Thanks!
GEMINI:BTCUSDEducation
by aleex5893
7
Debate 'Safe Heaven' Bitcoins- Skyrocket Coronavirus nCoVid2019Hello my dear traders and friends, As you can see the Bitcoins chart, the value has skyrocket in 2 months after the first major outbreak pandemic coronavirus on January 2020. People start to buy the bitcoins and the value increase towards the sentiment. They thinking this bitcoins will be the safe heaven towards this pandemic. For the reason, if you move towards to other countries you can sell it online anytime. This is their perspective which cause this element to bullish. For most people, they tend to see bitcoins can be really the safe heaven money. In my opinions, the bitcoins is just only worth the credit and it against the fiat currencies towards the major Dollar. While Dollar also has decreased its value as what we can see the central bank trying to adjust so many times the interest rate and clearly they do not know what their doing. It is a bitcoins that digital currencies which the value that something you do not own. It is just a value and with not many countries accepting the change towards the bitcoins currency. For the I put it bitcoins is a new currencies which we do not own physically but it is still a fiat currency that non-physical. I just want to records this as my journal and put my ideas towards this currencies. Yes of course I do trade bitcoins but to the somepoint which I do not agree where this digital currencies is be in the sentiment that people look as describe the 'safe heaven' currencies. As what like we saw on the historical and let the history of the Dollar speak for itself. For the past of bitcoins history, BTC also has got some major crash long time ago and this also happen on the fiat currencies as well. WIll people purchase the BTC as long this pandemic coronavirus in the background ? Or is it just a sentiment only ? Will Bitcoins drop when all the sentiment towards the virus disappear? As what I can conclude, this is just a trend. When the trend is over, people will less demand towards it. The price will drop and more event in the future caused it to be skyrocket as well. It is just a pattern. By Zezu Zaza
GEMINI:BTCUSDEducation
by Zezu_Zaza
2
W bottom BTCUSD SHORT We have yet another W bottom; certainly a common theme in the hundred and dozen or so publications I’ve done this far. Frustratingly trying to deal with this glitch that’s slicing my publications and rap as well as followers and all that stuff into two different accounts also preventing me from intraday trading on my pro account ironically so while they get sorted out (Check my chainl link publication for more info - Case anyone wondering why I feel the need to mention this is strictly due to the four or five people that actually read my publicationsCase anyone wondering why I feel the need to mention this is strictly due to the four or five people that actually read my publications so I did not want them to feel like I have been in them so rest easy loyal friends —- did not want them to feel like I have abandoned them, more like a temporary sabbatical while I sort this issue out. In the meantime I would implore you to check my Twitter/Linkdeln for any updates. I take it in this matter will be resolved within the week. W bottom signaling parabolic movement and time frame shows the short position I would take for anyone looking to dump before retracement and as always read horizontal represents the stop loss which is the figure you should always go for— Regardless of how bullish you believe the market is. Trade safely have a wonderful day and DM me if you have any questions or concerns. Happy birthday to my brother/best friend, Adam! Ll Peace & Love -@a1mTarabichi Disclaimer Market is extremely volatile so please keep that in mind do not FOMO or FUD and this is not financial advice. - Note: My main account just like all my other handles I. E. Twitter/ Linkdeln (among others) Is – a1MTARABICHI The glitch/duplicate account is identical just minus the M & 1 so “atarabichi” And so just pay attention to the same one that I’ve always been posting on there and that is the main one (Also the only one with the pro green badge) Hopefully does not cause too much confusion and will be fixed sooner rather than later Have a great evening once again -mT
BEducation
by UnknownUnicorn1445512
Dragononcrypto 3 Month Graphical ReviewIn order to promote accountability and transparency, here is a collation of all the BTC/USD calls I have made in the past 3 months. Note that some where on smaller time frames than the Daily (that is used in this graphic), such as the 1hr and 4hr, but otherwise remain relevant to the review. Bitcoin Repeating History: 10 Part TA Series On Repeating Past Patterns Full series with recent updates: bitcointalk.org Technical Analysis Highlights September-December 2019 Measuring The Move of the Descending Triangle Breakdown If 2017 Descending Triangle Repeats? Best Case Scenario Extrapolating the 50 & 200 Day MA bear crosses Extrapolating 2014 Correction - Could $6,500 Be The Low? Two & Four Year MA's Claim It's Time To Accumulate Miner Capitulation Is Here... Back Down To $3,800? TD Sequential 9 Next Week To Decide Direction? Another Bearish Bitcoin Indicator: 200 EMA & MA Bearcross If Bitcoin Repeats History? Extrapolating 2012 Breakdown A repeat of 2014? Worst Case Scenario A $2,500 Low If Bitcoin Repeats History? Descending Triangle Looking Similar
COINBASE:BTCUSDEducation
by dragononcrypto
BTC/USD MOMENT OF DECISION - COMPLETE BEGINNER'S WALKTHROUGH10 minute read, you have been warned. This will be a detailed walkthrough comprised of key points for both the bulls and the bears. Technical analysis will be done at a beginner-intermediate level. Readers are encouraged to look up vocabulary they do not understand, because hey, it's almost 2020, everyone can use Google and TradingView has their own wiki. We will begin with fundamental analysis. Why is crypto worth anything? Why are there trillions of dollars in this relatively new financial space? Is it a castle in the sky? Is it actually a valuable asset? Why does this weird mathematical abstract thing have value? Why? To answer questions in order to support a fundamental long or short stance on any asset or stock .. screw it, anything that you can attach a price to that may change over time: you have to dig pretty deep into the woo-woo of what's really going on in this world. Just stick with me for a bit. Why does anything have value at all? Do we value a material or abstract good for the ownership of the object itself? No, of course not. We want things for their services. Scarcity of these services drives price gain. Better services are also more expensive for a single unit. Lets compare crypto to fiat in terms of their services: Oh also, we will examine the C - Confidentiality I - Integrity A - Availability of the asset. These are the three core pillars of web security, and can easily be extended to judge the overall security of a digital asset. I pulled this straight from my college senior level Computer Security textbook, by the way. Really dense read, but worth every word if you want to truly do fundamental analysis on blockchain assets. It's pathetic how quickly some of these fintech guys will fall apart as soon as you start to poke holes in their whitepapers over their security. Also yeah, let me call one of them out: IOTA. Are you guys serious? Do you think you have Google-level ability to hire swarms of CS Security PhDs for 200k a year in order to make sure not a single self-driving car, or heck, even a toaster gets hacked? I mean, you guys are seriously trying, I see that, but making the leap from blockchain to DAG right now is totally not okay. In theory, yes, it is that much faster, but you're basically trading the 51% attack for a whole new host of bigger issues. A bigger institution needs to take on this task. I'm looking at you Amazon: this is the big takeover chance for you guys. If Amazon ever drops a DAG crypto, buy it to the moon, because it would just fundamentally revolutionize capitalism itself. Anyways, crypto vs fiat: Crypto: Anonymous in most cases - High Confidentiality Public/private key cryptography allows for public read access of the blockchain for Integrity purposes Very secure, mathematically sound (Take it from a Silicon Valley fintech wiz: I have personally done basic CBC-blockchain encryption. It works. I've done frequency analysis on byte-code output, tried to calculate mathematical brute force solutions against blockchain type encryption. Totally solid, and verified by mathematicians worldwide. It'll be fine until quantum computers.) - Top Integrity Cannot be counterfeited or forged - Top Integrity Cannot be robbed in most cases, especially cold-storage hardware wallets - High Integrity Low-transaction fees and fast send times for modern blockchain (ERC-20 and better) - Good Availability Huge liquidity in terms of market cap of stablecoins and volume between core assets like BTC/ETH/stablecoins, accessible from any $100+ smartphone - High Availability Limited supply of key assets forces scarcity - Bad for long-term availability of symbolic and valuable precious digital assets, ie. BTC/ETH/LTC Good store of value - long term view for crypto will never hyper-inflate Fiat: Used for person to person transactions in (usually) small quantities Circulated heavily through banks and tied to government identification - No Confidentiality Bills are tracked by government, leaving a paper trail regardless - No Confidentiality Can be counterfeited, forged, and stolen in some cases - Low Integrity Available everywhere, except tied to nations. USD is not true international currency, and you're better off with an international travel credit card with no transaction fees than actually try to carry tons of fiat to the country you're visiting and eating arbiter fees, especially if you need to be all over the place. - Neutral Availability USD is loaned out to US by China. Federal bank increases the interest rate to cheat debt. Every US citizen and corporation holding fiat, even the government itself, loses value. USD is not backed by gold since 1970. Inflation rates have been triggering exponential growth indicators for the last 30 years: aka. run-away inflation risk is high. Saving for retirement in USD probably not the best call for young people today. Bad store of value. I'm not slamming fiat. It's nice, it's not heavy, and that stuff is pretty. And tangible. But paper money has been out since the printing press, and you can look that date up yourself. It's old tech. Crypto is new tech, so of course it wipes the floor with fiat in every category of fundamental analysis, especially when it comes to security. We have reached the tipping point where crypto is hitting critical levels of AVAILABILITY. Anyone with a crappy 5 year old refurbished cellphone and decent 4G can start buying and using cryptocurrency to its full capacity. Do you know what that means? 1) People should be willing to pay a premium for crypto assets because they provide a better service than fiat. 2) Developing and third world countries now have access to crazy stuff like crypto backed credit lines that have more 3% interest on stablecoin collateral than APY ????!? (I'm looking at you Nexo) Are you telling me that the oppressed masses of the world now have access to financial firms that don't check your identity and give you rates SOLELY based on your FINANCIAL CREDIBILITY and NOTHING ELSE? If you hate dealing with real world problems, skip number 3. 3) Look, this world is completely effed if nothing changes. If we don't fix greedy unchecked accumulating wealth exponential growth with no regard for sustainability capitalism right now, Mother Earth is going down and she's going to take us with her. Close out this article if you don't agree with me, you shouldn't be trading anyone's money. There is a theory that roots in classical economics about this: infinite growth theory. That if we accumulate wealth and invest it, the dividends of the future outweigh the damage we're doing now. That if we double down on technology, we can cheat the rules of this Earth. If the fish die, we find a substitute. Everything can be substituted, even the trees, we'll make plastic and artificial ones. When all the oil runs out, we'll just have better technology by then. Capitalism is already as good as it can be, and we should just laissez faire to the max and everything will be fine. Don't worry about it. Okay, that theory is 60 years old. And based on ideas that are even older. When we were bootstrapping ourselves towards the stars as humans, firing the first steam engines and cranking the first pulley driven mills, we had no clue what was about to hit us in exactly 130 years. The internet? Computers? Artificial intelligence? Hello? Nothing was really abstract at the time. Everything was pretty human to human in the 1850s. This may as well be dystopia ... or utopia to a time traveler coming from the 1850s. We are at a tipping point, not only in crypto, but the financial flow of the world. Technology is about to hit that point of accumulation where it is ready to truly take off. I won't rant about AI singularity right now, but all I'm saying is we have the mathematical tools, theoretical ideas, and accumulated capital in the hands of a few visionaries to really take off technologically right now. But the thing is, the timing isn't right. What the heck are we using AI for these days? To turn the lights on and off for us when we cross the doorway of our home? To make really crappy celebrity memes? We could really help the world with this technology. And blockchain currency is the gateway to that technological advance in a REAL direction. Because crypto will allow the oppressed of this world easy access to the ability of bootstrapping themselves. And when their voices are heard because they too move the waves of the great financial market, we will have to listen to them as a collective. Maybe we can all agree to double down and go long on sustainable, long-term growth as a world. That's my vision for crypto, and that's fundamentally why I will always be long. CURRENT MARKET ANALYSIS: Fundamentally, we are long on crypto for the aforementioned reasons. We are looking at the long term trend, each bar representing a week of time. We can peer back about a year and a half at this zoom level to see what we can find in terms of trends. Purple dashes is the top of a long descending channel from the all-time high of the chart. Magenta dashes (hard to see) is the bottom of the same channel. Green dashes along the green ribbons is recent bullish pressure. Recently, price broke below aggressive bullish trend. Currently price is cutting into some of the long term MMAR ribbons. As such, we can see the squeeze breaking downward. MACD is swinging back towards 0 as some of the long term supports provide brief reprieve. Sell volume is slowing down below average levels. We are seeing some consolidation and weariness in the market. The bottom MMAR ribbon is located around 7300. We have not broken below that support, which coincides with Kijun-sen of the Ichimoku Cloud. The cloud is represented by the greyed out area. Critical things to watch for: MACD signal line is about to go negative, amplifying future sell signals. Squeeze accelerating downward and can break the market downward at any moment. ADX possibly retracing upward as Stochastic MTF peaks and troughs at the 30%-70% levels means a breakout in either direction is possible, and will be very violent when it happens. I believe from the MA that the price will continue to fall. There is also a DI+/DI- crossover (DI+ green, DI- red, ADX blue lines on the second up from bottom chart). If these lines diverge in their current trajectory combined with a spike in ADX and volume we could see the price obliterated below all current "normal" psychological baselines. If we break below 7300, free-fall to 5k-6k levels are likely. If the price breaks the long-term conservative downward channel with enough momentum around 4800, which coincides with the Senkou B line, we might just be dead for awhile. Accumulation would have to begin around absolute baseline levels of 1k-3k. Depends on how greedy and willing to be patient the whales are. And if I know anything about whales, they are THE MOST GREEDY and PATIENT people. The next moonshot upward will test something like 11350 to be safe, but we could just slingshot lunar orbit and keep going if the bull run is epic enough. Nothing is set in stone. Nothing is destiny. At a certain point, this is just cooperative abstract modern performing arts with numbers and math and prices. If you're not playing with margin, wait a few weeks for maybe new supports around 5k-6k or lower. Just wait to buy at the true bottom. If you are margin or future trading, play risk safe as shakeouts are always possible in an unsure market. Ultimately with the proper stop-losses and the right risk management, even a small short position can become hugely profitable in a free-falling condition. Just don't forget that eventually the momentum will always retrace into a long term buy-signal. Anything can happen at any time with a massive volume spike. Watch for that as final confirmation of opening a medium to long-term position.
BITMEX:BTCUSD.PEducation
by dysonring2050
Strong support, what's next?Here is current bitcoin's bias on short term. we can see that the down trend channel is holding true and current price is moving just slightly above the lower line of the channel. Not just touching it, it has touched the strong psychological support which is around $8000 region. we might see a dead cat bounce from this area and challenging the previous broken support that is now become resistance around $8500 region. On lower time frame, I haven't seen any sign of bullish pressure yet. the price keep moving sideway around $8050 - $8200 region which is not significant and not worth to enter long position for now. We must once again consider the higher time frame as a wider horoscope of potential direction of the price in the near future. The wide range of support could still be in play with a possible huge wick to the down side before it starts the bulls rally in short term. we must to be very reactive and very cautious at this levels, considering the wick fish is becoming the natural behavior a past movement. I am still waiting for potential dead cat bounce, but I don't think that this is the right time to enter long position.
BITFINEX:BTCUSDEducation
by julio24albert
ILLUMINATI OWL PIG GOES TO MOONImagine time traveling to 2019 from 1999. You get here and there is a digital currency market. ~Sears is Bankrupt. ~United Nations Going Bankrupt. ~Debt is so big Interest Rates can never "NORMALIZE" in current structure. ~Central Banks are doing REPO but are ~SCARED TO CALL IT QE. ~Trump is saying Central Bank has lost their minds. ~Venezuela is adopting the cryptocurrencies. ~Goverrnment is attacking the facebook but GOVERNMENT CREATED FACEBOOK COVERTLY. ~Mainstream media is faking bombings. ~California is Burning. ~Fracking is a LOSING BUSINESS. ~BUT EVERYONE EITHER THINKS its all great...its all chaos...or its all a master plan. DO YOU TIME TRAVEL BACK TO 1999 OR STAY AND BUY BITCOIN?!!!!
BITSTAMP:BTCUSDEducation
by denniswokeupinanewbitcoin
What can we learn if BTC decouples from ALTs & Dominance drops?This last move was important to pay attention to and be aware of whats going on in the markets. Bitcoin has been dominating the landscape for some time and for good reason. It has the most exposure, it has large funds being able to invest in it, etc, etc.... People were creating ways to get into the crypto craze and found ways to do it. I am not hear to pinpoint on exactly when to get in. I am hear to tell you that if you are sitting on the sidelines mulling around whether or not it's a good time to get in, please consider this chart. I can throw most any major alt coin and the result will be similar as to the eth and ltc comparison. AS BTC dominance drops, the ALT's rose, along with BTC for that matter. If we are going to have a massive alt season 2, this will be the time to get in and HODL. If you are targeting ETH, will it matter if you get in at 150, 200 or even 250 if it goes to $1,200? No, it won't. If you wait for more confirmation, you could possibly miss a large move to the upside. Maybe it goes down more before it goes up, no one knows. If we take a step back for a moment and look at bitcoin dominance we can see what story it is telling. The first and most obvious is that when BTC domiance dropped in 2017 prices started to increase. It's important to notice that this happened MID 2017, but people consider the bull run to happen late 2017 if not the beginning of 2018. But if you invested then you were late. You were showing up to the party as the police were arriving. Not a good time. The BTC dominance MACD is just about to arc over and cross. RSI is very much oversold. The BTC halvening is approaching next year, there are massive advances in crypto, etc... The decoupling exposed itself this last rally when almost EVERYTHING moved up and BTC stayed flat. Of course everything has corrected a bit, but that is to be expected. There are signs they are decoupling and if so it could be worthwhile to begin to take positions for a move up. Almost EVERY cross (ETH/BTC, LTC/BTC, etc..) are at all time lows, priming the pump for another ALT season. Ask yourself this... If ETH went down to $150 even if you bought at $200, would you be angry at having to ride it out? Or more angry if you hadn't bought at $200 and it moved up to $300, or 500? Make sure you evaluate your plan, whether trading or hodling and know the potential of what is going on. Stay disciplined. Could BTC go down to 7k?Could it drag everything else down with it? Very possible, and it's what I have thought until this latest move. Because what if it decouples from alt's and those stay stable or even move up? As evidenced by the recent moves? Compare the latest ETH chart to BTC. It looks like BTC is moving down and ETH to the upside... It will be quite interesting to see where we go and I hope I provided some insight and help for your positions or trading. Best of luck trading and hodling -Sherem
CRYPTOCAP:BTC.DEducation
by Sherem
5
BTCUSD Bullish momentum confirmationWhat a beauty move. But be honest...who didn't saw that guys? Just need some manual draws on RSI(20). RSI(20) breakout once, than confirmed twice. Look what caused this on the candles chart: What's next? In the next 45 minutes (before the next 1H close) bitcoin will decide : which direction to keep before this weekend. Be safe: it could be a big bulltrap before weekend - and whales could be tricky, thats why I'm preferred the a SHORT position soon near to 11k - hedging against current profitable LONG. CONCLUSTION * RSI(20) not only good for detecting divergences ( I've wrote a good article here ), but also good for finding the right momentum to entering a trade. * Don't use '"trade and pray" strategy ... it's a noob's way. Better to entering into confirmed trend via the momentums. If you have any technical analysis question - I will answering it today in the comment section!
COINBASE:BTCUSDEducation
by TanukiTrade
The Power of The Trend Line. In this piece I'm going to shed some light on the most basic, and yet, most overlooked TA tool to exist in chart analysis, the Trend Line. A trend line is a simple way to plot the price path of any asset. By connecting a set of lows or highs you can see the general direction the price of an asset is moving. Looking at the daily chart of Bitcoin we can see the bear market of 2018. By simply connecting the two first definable peaks (Beginning of March and May), we plot a line that dictates the price movement for the rest of the year. On multiple occasions, the trend line rejected the price and simply shorting off this trend line would have reaped huge profits. Most interestingly, however, is what happened at the beginning of April 2019. For the first time in over a year the price started trading above the trend line for a few days, what followed was an explosive rally of more than 25% in a single day. I remember clearly when this happened everyone was stabbing in the dark for reasons why Bitcoin was rallying. All kinds of Eliot wave theories and Fibonacci fans were being plotted and people were citing irrelevant news as the catalyst behind the rally. However, once again the teachings of Occam's razor had me looking at the simple violation of the downtrend line. Trend lines are not only a dominant force on long term charts. Let's look at the BTC 4 hour chart. If we plot a line with the two peaks from June 26 and July 10 respectively, we get a trend line. Then in early August as the price was moving up, where do you think we would run into resistance? Precisely on the predetermined trend line. Not a coincidence. Next, let's look at an even shorter time frame, the 1 hour BTC chart. From July 30 - August 9 the price rode a trend line that could be plotted within the first few days. Then on August 10th we started trading beneath the trend line, what followed was a swift 20% correction. Now let's look at the 5 min chart of the current price movement. The two lows on August 15th and 16th can be used to plot and uptrend line, and look what follows.... The longer you look, the more of these examples of this you can find, on almost any time frame with almost any asset. Markets are driven mostly by human psychology and that is why these trend lines are so dominant. They can help to identify the most optimal point to enter an up or down trend, predict tops and bottoms of short term rallies, and be an accurate gauge of market conditions.
KRAKEN:BTCUSDEducation
by HyptoCrypto234
Support at $9950, but H&S Points DownSupport levels at $9950 stopped Bitcoin’s swift descent into shorts targeting the $8800 area. As this is currently a mid-term bear market, waiting for all the signals that a reversal is due is key to financial success. RSI is at 30, a good buy. However, a bearish MACD and bearish candle stick patterns may indicate further downward movement before we gain an opportunity to profit on a solid uptrend. Overhead resistance is at the $10750 area, so if one wants to go long now or later down the road around $9100, a potential profit target is there. We also have a head and shoulders pattern that formed fully yesterday, signaling further downward movement. As for myself, I am saving my pennies until the signals become clear. Best of luck to everyone! May God be with you!
COINBASE:BTCUSDEducation
by Grandmaster76