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Bitcoinglong

Why 48000 is a an easy target for Bitcoin ?With the bullish momentum and currently trading at the strong support bitcoin is aiming for 48K. 48,000 is an easy target for Bitcoin without any major resistance between current price 38K and 48K ------------------------- VectorAlog Trade Details ------------------------- Entry Price: 38000 StopLoss: 34000 ------------------------------------------------------------------------------ Target is 48000, Move StopLoss to breakeven when Bitcoin price hits 41,000 ------------------------------------------------------------------------------ Regards
Long
by VectorAlgo
1
History Repeats Itself? | Bitcoins Triangles And ChannelsWhen I was looking at the chart of COINBASE:BTCUSD , I noticed something familiair on the chart. In my previous posts I talked about the ascending triangle and the possibility of a false breakout. That false breakout dream seemed to be false however I think we're looking at something which forces us to flip our opinion yet again. When I look at it now, I see a ascending triangle followed by a parallel channel. Then i remembered the previous bullish setup on Bitcoin. That setup also included a ascending triangle, which broke out bearishly, which was also followed up by a parallel channel. So if we zoom in on the current falling channel, we can see a switch in the trend. The trend shifted from falling to going sideways. This implies the falling channel is almost to an end and is about to break to the upside. If this is the case and I think it is likely, then the probability of Bitcoin going lower has been decreased drastically. I notice me flipping from bullish to bearish and back frequently in this period. The data is constantly updating and so is my opinion on the price. With the new data, I am switching back to being bullish on Bitcoin.
COINBASE:BTCUSDLong
by VinanceYT
Bitcoin Last Hope Before CorrectionHi all, Bitcoin has been out of its ascending triangle for almost three days now. We've seen the false breakout to the upside which has been followed up by a break of the support line of the triangle. Now in normal cases this is clearly bearish. In the case of Bitcoin however, this is a bit more complicated. In the previous posts i've spend some time talking about how Bitcoin likes to make false breakouts. We see this time and time again. This makes it hard for short term traders to accurately trade Bitcoin without getting stopped out of their positions. Right now I think we're looking at another false breakout for Bitcoin and here's why: The 21 ema has been a good support or resistance line in either up or downtrends. Right now we see the price being supported by this line. It also seems that the price is slowely creeping up to its previous support. I think this is an indicator that Bitcoin is likely to have a false breakout. In case Bitcoin closes lower than the 21 ema, it is likely that Bitcoin will hit the green support zone and finds support there. But for now I am switching back to bullish from being neutral for several days.
COINBASE:BTCUSDLong
by VinanceYT
Bitcoin Bullish TriangleCOINBASE:BTCUSD is bullish and here is why. On the hourly chart, we can spot a ascending triangle. We have a rising support line and a horizontal resistance/support zone on top. At first it looked like the triangle broke bearish. However, this turned out to be a false breakout and the price quickly rose to resistance. Bitcoin flirted with the resistance zone for about 60 hours before it finally broke trough. Right now it seems like Bitcoin is turning resistance into new support before it kicks off to our first target of 13k usd.
COINBASE:BTCUSDLong
by VinanceYT
Shorts hitting all time highs, but BTC isn't making a new low?!?Chart update. BTC is going to be lagging behind ETH for the time being. ETH/BTC is starting to turn up and as long as it continues it will dampen moves to the upside in BTC. On the Day time frame we have 1. MACD that is flat 2. RSI coming off these low and confirming divergence On this 4 hour chart we have. 1. MACD in flat territory 2. Mini Wedge forming 3. If you look, BTC is currently sitting on my support point, broken trendline(possible retest) and small upwards trend line. I said it once before that if we move sideways it would most likely confirm a move to the upside. So, if we base out in this channel I would imagine we would get another push up. I am leaning bullish on this one, and to be frank I am not worried about anything breaking down and I will holding for a swing play. I will tell you why and how to trade it. Here is why I am not concerned. Notice how Shorts are increasing but price is not. On 4/1 (green vertical line) we had shorts drive price down to $6,400 and increase short exposure substantially and now shorts have increased there positions AGAIN and we aren't breaking lower. We even had some longs close out on this last big candle down and we didn't get a push down to 6.4k. If I were short I would not want to be seeing this. How to trade it? It's not out of the realm of possibility that we will get another push down. The best thing to do is martingale your positions in. Have laddered buys down to 3.5k, with some reserves in place in case it pushes even lower past 4k. This is a great SWING play IMO. We don't know when it's going to turn but shorts are going to cover eventually either they will get squeezed or they will take profit. A martingale strategy here is a great play IMO, make sure you read up on it if you don't know what it is. If this analysis added some value to your thought process, please smash that like button! Happy Trading. Don't stress, pick your points and DON'T USE LEVERAGE. -Sherem If you want a more detailed post on my short analysis, check out my previous post -
BITSTAMP:BTCUSDLong
by Sherem