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Daily Descending TriableShort Term Outlook: Bearish Long Term Outlook: Bullish Things are not looking good for Bitcoin as it continues to fail on breaking out past these resistance levels. Most notably the range from $37.5k - $40k. Zooming out to the Weekly you can see a bear pennant starting to form up. Now, if the bulls fail to have a sustained breakout then we could expect the price to revisit $30k, with a flush to $28k (Long position liquidation). On the Weekly timeframe, the 50 ema is currently hovering around $26k. That would be where I set up short with trailing stops. Also, this is not financial advice.
BITSTAMP:BTCUSDShort
by tired_man_willis
Bitcoin is at a precarious position....UPDATE!BTCUSD is in a Symmetrical Triangle. But it looks more like a Bear Flag to me. So , price has found itself at the resistance line of the triangle, and we have to wait and see what happens next, right? Perhaps a FAKEOUT! Maybe a BREAK OUT-BREAK BACK IN move. Followed by the bearish train downtown. Perhaps. Let's be patient, have a plan in place, with a backup plan! Did you notice the Stoch's are showing the market is over extended to the upside? Price is at a Weekly key level of S&R, as well. Just sayin'....
by RT_Money
Will Bitcoin keep dropping? 😬👇😯Bitcoin along with most crypto has seen the market go bearish of late. Our script working on the day chart here triggered a sell alert back on the 20th of April. This was way before the big slump, this alert could of helped many back into cash before the bear market took hold. For any CFD traders of bitcoin this alert could of helped you closed any buy positions before entering the sell position. Entry details are shown on the chart for the current sell position. The big question is will bitcoin continue down and find that take profit target of ours? Strategy is set here working to a 1:5 RR and risking 1% of capital per trade. As with every idea I post trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. Interested in access to my strategy so you can be in these trades the moment they're valid? Drop me a DM . The stats for this pair are shown below too. Thank you. Darren
BITSTAMP:BTCUSDShort
by pow_removetheguesswork
Bitcoin Moment of Truth! BTC price action keeps melting until the 200EMA previous support & resistance line. Here's the moment where you stay objective and keep trading your plan. When price action moves below the 200EMA I start looking for bearish scenarios. As much as I love crypto and BTC, charts don't lie. On high watch for direction confirmation. Also good opportunity to see what others cryptos & tokens are pulling back but without changing their structure. Let me know if you want me to take a look over some of them, safe trading everyone!
Short
by Trade-Pal
3
BITCOIN STILL HAS NOT BEEN INTERESTING- BTC is still in the 30000-43000 zone. - Specifically, BTC is moving in an Symmetrical Triangle pattern. - That show hesitation, boredom of the market. - The volume decrease when the triangle narrows, showing the balance between supply and demand, there is no faction leading the market and a break in both directions is possible. - Current strategy is to wait for a strong break with high volume. To be on the safe side, wait to get out of the 30000-43000 range. - If breakout from the lower trendline, break through 30000, then the target will be 20000. - If it breakout from the upper trendline, the target will be 50000
BITFINEX:BTCUSD
by ArthurZeta
Multiple Patterns On The Hourly BTC/USD chartFor the past few days, it looks like an inverted H&S pattern (highlighted in yellow) has been forming. The length from the head to the neck implies that BTC will ascend toward the mid 40s if it punches through. Zooming out a little further, a descending wedge pattern (highlighted in blue) looks visible. BTC has bounced from the upper line of this wedge five or six times, indicating some obvious resistance. The red line is the previous resistance line from the fierce downtrend last week, which may now act as a level of support, should BTC remain within the blue wedge pattern.
BINANCE:BTCUSD
by UnbearabullTrader
Wyckoff Distribution Explained (BTC Daily)Wyckoff Distribution Explained What the crypto market just witnessed was a near texbook definition Wyckoff Distribution play. I've explained it below. Before I begin Elon Musk did not cause this China FUD is not new The fundamentals and milestones that Bitcoin has met these last few months have not changed Disclaimer: I entered positions in both the BTC and Alt Market. However, keep in mind the Bitcoin Dominance. As it rises, we may see alts lose some satoshi value. Phases Phase A: This phase means that the uptrend is slowing down or stopping. As investors who accumulated earlier sell (Distribute) their positions (PSY), an increase in supply hits the retail market. Retail investors, who are late, will buy the recently sold positions (BC). Both events occurring will have the (AR) as the sell-off is bought “Buy the Dip”. Volume at this point is diminishing and we see a retest of the (BC). Phase B: Phase B is when the market is being set up for the downtrend. Traditionally, institutions and market makers at this point begin distributing (selling) their positions over a period of time to exhaust the buyers. Additionally, they begin entering short positions. Phase C: Here the market is led into a bull trap with resistance being broken on low volume. Here we can see common patterns such as the “Double Top, Head & Shoulders etc). This is when short positions are loaded. Phase D: The bears gain volume with small short-lived rallys countering their price action. These are perfect opportunities to enter or add to your short position. Phase E: This is the downtrend and as long positions are liquidated, the probability of short sellers closing increases and set trailing stops. Climactic action may happen and then we may see a signal of the reverse. Accumulation Terms PSY (Preliminary Supply): Market makers start to sell after an upmove BC (Buying Climax): Retail investors flood in buying up the sold positions due to hype AR (Automatic Reaction): Momentum has slowed and sets up the low boundary ST (Secondary Test): Price revisits the area of the BC to test demand. SOW (Sign of Weakness): Supply is dominant with bear volume increasing as it nears support LPSY (Last Point of Supply): After testing support, a short rally that breaks up or down is determined by the volume. (A bear flag may appear on the chart patterns). UTAD (Upthrust after Distribution): Tests new demand after a breakout in resistance. It’s not a required structural element.
BITSTAMP:BTCUSDLong
by tired_man_willis
15
How to Catch a Falling Bitcoin KnifeAnother Ultra Long Term chart ( I hate doing short term trades !) Here is a VERY IMPORTANT quote from Jason Shapiro from the book “Unknown Market Wizards” by Jack Schwager: " Everyone understands that the market is a discounting mechanism. What people don't understand is that the discounting mechanism is not the price, it is participation. Its not that the price has gone from 50 to 100 and thus the bullish fundamentals are discounted. Its about everyone is long and hence bullish fundamentals are discounted. An example: when amazon stock was about 700-800 everyone said it was ridiculous, calling it a bubble. It was clear though that most people didn't own it else they would not call it a bubble. The stock is now trading above 2300 based solely on participation." So here is a take on participation (measured using VPVR) over two BTC bull runs (signaled in the chart with a 50-100 MA cross) : A: Participants who think halving is bullish accumulate thinking (rightly so far) doing so will be a low risk trade. B: Participants add on to existing positions on bullish confirmation that halving has caused a price rise, long term bears with a functioning pre-frontal cortex jump in. C: Participants who bought the top in the previous cycle try to get rid of their trauma seeing that price is back at their buy price. Buyers buy their bags. People who are hyper intelligent rationalize that previous top should be the new resistance sell. Too smart they are. The real resistance was Price level B. D: Participants who think they will buy BTC when it crashes below previous ATH, fomo at these levels after BTC has a near vertical rally, offering no point of entry. Some folks who sold at C buy back again, continuing to rationalize that at least they averted a “potential” bearish scenario. E: WELCOME NOOBIES People who do not have the stomach of bearing pain for long term gain, sell at break-even OR at a loss. So two patterns emerge: 1. BUY > price goes down (trauma) > price goes up (hope) > SELL (relief) , OR 2. BUY > price goes up (euphoria) > price goes down (shock) > SELL (relief) Next bear market bottom: Placing some bids around D and E to catch a falling knife seems to be a good idea. Average in of course coz you never know if price will actually reach D and E. Participants change over time. And as you I show in my display picture: No Pain, No Lambo😊
COINBASE:BTCUSDEducation
by brotoshee
4
KING BTC ready to take up its crownWarning: our thoughts are ours alone; not financial advice. For the past 20+ days, it's been cold for BTC bag holders. However, it seems it's time for BTC to take up the crown again, blasting through its recent high. In our opinion, there's still time to load up some more BTC as the pullback could be approaching its end. Our strategy doesn't assume, we trade what we see. We need to see a D1 candle close above the 21 MA to fully confirm this and we think this might happen in a day or two.
Long
by coin-barbie