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1 Hr Bitcoin possible Double Top in playNot going to lie, that little $300 had me for a quick second but then I looked at a few things. Low volume and a failure to sustain the move on the short term. I'm sure some of you may have seen other people flip bullish and opened new positions expecting the rumor to push us past $10k. The 1hr RSI is nasty as is the possible Double Top. I wouldn't be surprised if the hopium for the bulls has a few opening some overleveraged longs. (Bull Trap) That said, if the Paypal/Venmo rumor turns out to be true then we can most definitely see sentiment flip bullish as I will too. However, if we don't get a confirmation in the news by the end of the week then all sentiment and hope will be crushed with a move to the downside. Do I believe Paypal and Venmo will integrate Bitcoin down the road? Yes Do I think it'll happen soon? No I'm still in my short position but that's because I have been. If you're out of your position then be smart and wait for bear volume to pick back up.
BITSTAMP:BTCUSD
by tired_man_willis
2
Is A 1.6% Upside Target Worth The Risk?Without carefully crafted historically backtested strategies, the kinds of trades available on short-time frames within the current market structure are high risk. Check this one out. 3 'white soldiers' candle formation on the 4 hour chart. Looks good. MACD pushing up. But look at the overhead resistance level. It's just 1.6% above current price. Would you risk leveraging long for such a small move? Or would you wait for stronger momentum on a higher time frame?
Long
by Sparkster
1
ADA rolling over = BTC rolling over 1DBulls have failed to sustain their push especially with the alts running out of steam. I'm mainly trading off of the Daily & Weekly and we haven't had a retest of our Weekly low around $6850. Bear volume is slowly increasing and a lot of the lead alts are starting to bleed. ADA pumped hard which led the last "real" push towards $10k (It was May 27th, check the daily for each) and it's the first to rollover. I do have a short position. Checkout that nasty RSI lol Non-crypto: Money is going into stocks for the time being. I personally have seen lots of posts about that on social media from associates.
BITSTAMP:BTCUSDShort
by tired_man_willis
3
Groestlcoin (GRS) A Big Pump AheadHi friends hope you are doing well. In this article I want to show you my technical analysis on Groestlcoin to understand how it has completed the setup for very big bullish move. The major spike: If we watch on the weekly chart then GRS was moving in a down channel. And on the candlestick that was started on the 4th May 2020 it was trying to break down the support. But soon in the second week of May 2020 it started the bullish rally up to more than 80% from the lowest point up to the highest point. All indicators gave clear bullish signals before the rally: Before the bullish rally almost all indicators gave very obviously signals. For example I have used the combination of five indicators to determine the bullish rally. Then it can be easily observed that on 8th May the moving average convergence divergence (MACD) indicator started turning bullish and the stochastic gave bull cross from oversold zone. Then on 12th May the momentum was started changing from bearish to bullish and finally we received a bullish signal by the directional movement indicator as well because the positive directional indicator (+DI) crossed up the negative directional indicator on 22nd May and then we have witnessed a powerful upward move. The SMAs are turning bullish: If we place the simple moving averages with the time period of 25, 50, 100 and 200. Then it can be easily observed that after the strong bullish rally the price action has crossed up all the moving averages. At this time the price action of GRS is crossing up the 200 simple moving average. This time the smallest time period moving average 25 is crossing the 50 simple moving average and the biggest time period moving average with the time period of 200 is above all other moving averages. Once the smallest moving average will be moved above all other moving averages and the biggest time period moving average will be moved below all the other moving averages then a complete opened alligator mouth can be formed by the SMAs that can trigger more powerful bullish move. And before the alligator’s mouth formation we can observe another bullish move when the 50 simple moving average will be crossing up the 200 SMA. Because this golden cross is considered as a powerful buying signal among the traders community and this bull cross between the two moving averages will be a big invitation to the traders to buy GRS. Harmonic moves with continuation: Now let’s move to my favorite part of the analyses and that is the harmonic moves by the price action of GRS. If we switch to the long-term weekly chart then it can be easily seen that the price action is continuously forming different harmonic patterns and all these patterns are bearish. For example 1st the price action formed a bearish Shark pattern and for the completion of final leg it produced more than 1700% bullish rally. Then price action started the formation of bearish Butterfly pattern and while completing the final leg of this butterfly the price action produced more than 600% rally. At this time the price action is forming another bearish Shark pattern. The formation of this pattern was started from the candlestick that was started on 23rd April 2018. And after the completion of initial leg the price action retraced up to 0.618 Fibonacci level. And this was the first confirmation of bearish Shark. Then B to C leg is projected between 1.13 upto 1.618 Fibonacci projection and this is the second confirmation of Shark. You can observe that on the chart I have placed the pattern up to 1.618 Fib level, but this level is in negative zone therefore it will be not possible for the priceline to enter in the negative zone. I have just placed the pattern up to this level only for educational purpose to show you the perfection of this pattern. However the priceline has found a strong support at 0.00001751 sats. Therefore the potential can be up to this level. Now as per Fibonacci sequence of bearish Shark. The priceline should move between 0.886 up to 1.13 Fibonacci retracement level. And once this leg will be completed then in it can produce up to 1650% big bullish rally. However as per Fibonacci sequence of bearish Shark I have also defined some secure targets as well. The complete buying and sell targets as per Fibonacci sequence are as below: Buy between: 0.00003480 to 0.00001751 sats Secure sell target zone: 0.00008636 to 0.0001591 sats Aggressive target sell zone (Upto the completion of shark's leg) 0.0002541 to 0.0003096 sats Conclusion: As previous history of GRS it is very easy for the price action to complete the formation of another harmonic pattern and that is almost formed. However it is not confirmed that this strong bullish move will be started before the testnet release that is announced by the GRS team.
Long
by moon333
1
Daily Triple Top Back in PlayOk, so that Bart break to $10.4k threw me off. However, after the steep drop and failed break we went back to where we were beforehand. Same thing as I said last week, bulls must sustain the bull breaks or it'll get rejected. For the first time in over a year I've gone short as I feel a drop in order to retest the Weekly low is inevitable. I've been setting cash aside mostly for buying to accumulate but I'm putting my money where my mouth is. CME Gap at $7600 you know how that goes. bitcoinist.com
BITSTAMP:BTCUSDShort
by tired_man_willis
1
$800 Dollar Intra-Day Moves.. What Does It Mean for BTC Traders? An 8% move upwards in the space of 4 hours.... a pause... then an 8% move downwards. That's a dollar move of the entire price of one bitcoin from back in January 2017, just 3.5 years ago. Imagine when $1000 dollar daily candles become the norm. How will trading have to change? Will people still use a 15-minute chart with bitcoin? How fast will newbie traders get REKT? Trade wisely. Use algo-assisted trade optimization tools. #SparksterSignals
Long
by Sparkster
1
Still Bearish with Triple Top 4hrLast week I made a post about a Double Top that looked to be executing but the Bulls held around $8550 thereby establishing support at this level. However, looking at the Volume levels, the Bears are winning in that regard as Bulls have repeatedly attempted to breach $9500-$10k but are continuously failing with each "peak" being lower than the previous. Unless Bulls rally with strong volume, we can expect falling prices over the next month. On the Weekly, we haven't even touched the 25 EMA and on the Daily we are barely holding above it. The RSI hovering around 60 is not traditionally a good sign though we know how Bitcoin is. That said, if you're going Long, the best opportunities and safest bet will be in the 20s after a dump with a Bull Divergence. I don't short as Bitcoin is unpredictable but if you're doing so put tight stops. What Is a Triple Top? - The triple top is a type of chart pattern used in technical analysis to predict the reversal in the movement of an asset's price. Consisting of three peaks, a triple top signals that the asset may no longer be rallying, and that lower prices may be on the way. - Triple tops may occur on all time frames, but in order for the pattern to be considered a triple top, it must occur after an uptrend. The opposite of a triple is a triple bottom, which indicates the asset's price is no longer falling and could head higher. www.investopedia.com
BITSTAMP:BTCUSDShort
by tired_man_willis
3
SNGLSBTC formed bearish Crab To Start Bearish MoveIn my previous post of SNGLS with Bitcoin pair we have seen that on 2 day based chart the SNGLS formed bullish Cypher pattern and as per prediction the priceline took a powerful bullish divergence from buying zone and produced more than 151% profit. Formation of bearish Crab pattern: Now this time on midterm 2 day chart the price action of SNGLS has formed bearish harmonic Crab pattern and entered in potential reversal zone and from here it can start a bearish move. Sell Targets: The sell targets according to Fibonacci sequence of harmonic bearish Crab pattern should be: Sell between: 0.00000182 to 0.00000215 Stop loss: The potential reversal zone area that is up to 0.00000215 sats can be used as stop loss in case of complete candle stick closes above this level. 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.
SShort
by moon333
Theta Fuel (TFUEL) Has Spiked More Than 900% Before Mainnet 2.0Why traders are interested in Theta and the launch of mainnet 2.0: Hi friend hope you are doing good. Today I want to talk about Thetafuel coin that is the native token of Theta blockchain. If we visit their website then we can see that only 2 days are left in the launch of mainnet 2.0. Therefore the traders are interested to buy and trade Theta token and the Tfuel as well. But the theta token is spiked more than 300% and the TFUEL has spiked more than 900% therefore I would like to talk about that TFUEL. Down channel and the synchronized movement of price action with indicators: The price action of a TFUEL coin has formed a down channel on midterm 2 day chart. If we take a coser look at the chart then it can be observed that the movement of the priceline is very much synchronized with relative strength index (RSI) and Momentum indicator. Whenever the price action reaches at the support and the RSI visited oversold zone then momentum gives bullish signals and the price action turns bullish and reached at the resistance. Theta fuel coin has repeated this act three times during the movement within this channel. First time it produced more than 52% profit on the second time that it produced more than 76% and on the third time the price action broke out the resistance of the channel and so far it has produced 900% big gains. SMAs on daily chart: If we watch the simple moving averages and daily chart with the time period of 25, 50, 100 and 200 then it can be easily observed that the price action has crossed up all these simple moving averages with a powerful rally. And all these moving averages has formed an opened alligator mouth as we have the smallest simple moving average above all and the biggest simple moving average below all other moving averages. But there is a little bit critical situation that the distance between the moving averages and the candlestick very big. Therefore the candlestick doesn't have support of the moving average nearby its tail. So if the price action will start a correction rally and drops down upto the 25 simple moving average to use it as a support then it will be a huge loss for the trader who has bought the Tfuel at this point. EMAs on long term chart: Now I would like to show you a bullish position of the exponential moving averages with the time period of 10 and 21 on long term weekly chart. It can be clearly seen on this chart that price action has crossed up the EMA 10 and 21. That is very strong bullish signal on this weeky chart. And the candlestick has crossed up these two EMAs with the powerful bullish spike. And now the next candlestick has opened above these two emponential moving averages. But again we have the same critical situation here like we have on the daily chart with simple moving averages. And that is the distance between the EMAs and the candlestick is very big so if the price action will move down to retest these EMAs as support then again there will be a huge loss for the traders. The use of up channel for safe trading: Now the question is that if someone wants to buy Tfuel here then what can be the safest way. I have found two safe ways to trade the Theta Fuel here. And one more thing that the price action is too much bullish therefore we can have the swing trading chances on the small time period candlesticks. So if we switch to the 30 minutes then we can see that since two days the price action is moving within an up channel. And that is a very good opportunity for the traders to buy at the support of the channel and sell at the resistance as the price action is moving within the support and resistance very well. But again the stop loss is very much important because the price action is already moving above the 900% level. So the support of this channel can be used as a stop loss. If the price action will break down the support then you should take exit from this trade to minimize the risk of loss. Average true range trailing stop indicator: The more safe way that I have found is to place average true range trailing stop indicator on 15 minute chart. This indicator is available on the tradingveiw. You can create your account there because there are more than 5000 indicators available that can help you in trading. Now let's move to the chart again. After placing this indicator you can use it as a buy and sell signal and the stop loss as wel. Here is the way how. First you need to watch when the candlesticks are crossing up the average true range indicator then you can buy and when the candlestick will cross down this indicate then you can sell. For example the candlestick crossed up this indicator on 23rd May and the closing price of that candlestick 79 sats. And at this time the price line is moving around 223 sats. So its mean if you would have bought at 79 sats then you would be add around 200% profit. This is only one example I have shown when you will move back on this chart then you will find tons of examples where the priceline has produced big profits on the small time period candlesticks with this indicator. I would repeat again that this indicator should be used as a stop loss strictly. For example if you have bought using buying signal of this indicator and if the price line crosses down or breaks down the indicator’s line then you should sell. Because if the price line will be dropped from here in starts a correction rally on big time period charts then you can get stuck in trade for the long time period. Conclusion: Even though the price action of the TFUEL is moving above 900% level but it is still producing hundreds of percent by giving the chances of swing trading even on the small time period charts. But trading such coins involved high risks therefore the stop loss strategy is must. 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.  
Long
by moon333
7
Be Patient BullsFollowing up to my post last week we are confirming the Double Top. We are seeing an increase in Bear Volume as we push downward after 2 months of Bull action. I've marked the support zone I'm targeting as I believe we may get a short term bounce into a bear pennant which will take us to the next leg down around $7k. That said, I'm going to start scaling in to accumulate in the mid $7k range. I like to keep things simple and not use 10 different tools. I use the EMA/MA along with Volume and RSI. I'll use Fib Retracement and draw flags but for the most part the less things on my screen, the easier it is to read. Scan out to the Weekly to get a better overview. I'm waiting for the Weekly Candle to hit the 25 EMA first which is around $81350 at the time of this post on Thursday 2:27 CST. Until then, be patient my bulls
BITSTAMP:BTCUSDShort
by tired_man_willis
Bitcoin and real chance to recovery #BUY PositionHey guys, I used several indicators and real facts, what's going on at the market right now. I used a daily chart to show you a full analysis of very popular cryptocurrency Bitcoin. Indicators, which are very useful and I really suggest you are Ichimoku clouds, Pivot numbers, where you can see real R1, R2, R3 and so on. My little chart story is about the impact of the COVID-19 and recovery process of this currency, which I'm expecting to become more popular! I suggest you BUY position and wait for the uptrend, where we have chance to hit 10,000 and more. If you like my analysis don't forget to put LIKE and you can see other descriptions on the chart. Thanks and GL
BITFINEX:BTCUSDLong
by KiriaTrader
$GBTC | Grayscale® Bitcoin Trust What Is the Grayscale Bitcoin Trust? The Grayscale Bitcoin Trust is a digital currency investment product that individual investors can buy and sell in their own brokerage accounts. On January 21, 2020, it became an SEC reporting company, registering its shares with the Commission and designating the Trust as the first digital currency investment vehicle to attain the status of a reporting company by the SEC. This will allow accredited investors who purchased shares in the Trust’s private placement to have an earlier liquidity opportunity, as the statutory holding period of private placement shares would be reduced from 12 months to 6 months, according to SEC rules. More About the Grayscale Bitcoin Trust The Grayscale Investment Trust debuted as The Bitcoin Investment Trust on Sept. 25, 2013 as a private placement to accredited investors and, later on, received FINRA approval for eligible shares to trade publicly. This means that investors have access to buy and sell public shares of the Trust under the symbol GBTC. Grayscale Investments calls it a traditional investment vehicle with shares titled in the investor's name. Although the Trust is not an ETF itself, Grayscale says it's modeled on popular commodity investment products like the SPDR Gold Trust, a physically backed ETF. GBTC is traded publicly on the OTCQX, an over-the-counter market, under the Alternative Reporting Standard for companies not required to register with the Securities and Exchange Commission (SEC). Its success mirrors that of Bitcoin because its value is derived solely from that cryptocurrency. As of September 11, 2019, GBTC had approximately $2.16 billion in assets under management (AUM) and 2.4 million shares outstanding. The trust requires a minimum investment of $50,000 and charges an annual fee of 2.0 percent, which accrues daily, for accredited investors who wish to subscribe to the Trust as a private placement. On the other hand, investors are eligible to purchase as little as one share of the GBTC public quotation. Grayscale suggests that its management of the fund is worth more than the annual fee, and one of its major selling points is its security. Storing cryptocurrency safely is notoriously challenging, and the company assures investors that the Grayscale Bitcoin Trust's assets "are safeguarded by a robust security system that uses industry-leading security standards." As an investment vehicle which trades over-the-counter, GBTC is available for investors to buy and sell in the same way as virtually any U.S. security. As an example, GBTC can be traded through a brokerage firm, and it's also available within tax-advantaged accounts like IRAs or 401(k)s. Disadvantages of GBTC Andrew Left of Citron Research has publicly criticized the Grayscale Investment Trust, and Citron has tweeted that GBTC is the "most dangerous way to own Bitcoin." Possible disadvantages of investing in the Trust include paying high premiums along with the annual fee, along with the risk factors associated with the overall volatility in the cryptocurrency market, as well as with investments vehicles that aren't required to register with the SEC. Because the Trust is currently the only fund of its kind specifically for bitcoin, investors have been paying a high premium. In Sept. 2018, shares of GBTC traded at a high of $7.95, which was around 20% higher than the value of the bitcoin within the trust that each share represented at that time. Although that premium is significant, it’s lower than it has been in the past — GBTC has closed at prices more than two times the value of its underlying bitcoins. Grayscale offers that prices are dictated by the market and not by Grayscale itself, so price fluctuations may be a result of supply and demand. As of Oct. 2018, each share of GBTC represented less than 0.0001 bitcoin. That means it would take more than 1,000 shares of GBTC to own one bitcoin. GBTC saw a steady increase in 2017 and peaked at the end of the year. However, its performance in 2018 has fluctuated, and overall, GBTC has trended downward, with a nearly 65% year-to-date decline as of Oct. 2018. Steeper declines could mean that shares could lose most or all of their value. In 2019, as Bitcoin's price has generally trended upward, GBTC has followed.
GShort
by BlackMEX
3
Daily Double TopThis is a follow-up to my post last week on the Weekly chart pre-halving. Now last week I said we'd get a dump on the Halving event, which we did with some good volume on the bears side. Bulls held and retested the previous highs with weak volume. Daily, imo, shows a Double Top. The weak bull volume and RSI are my red flags. If you swap it over to the Weekly you'll get an even better overall picture. As it stands, the Support level I'm looking at is around $7-6.8k (popular zone during the 2018 bear market) with $6k being the Bulls final stand. That said, anyone who's been in the game long enough knows what usually happens after the big dumps. I'm still holding my long term positions that I've accumulated in every dump and have some cash on the side ready to buy. Be patient and let the price come to you. Weekly Chart
BITSTAMP:BTCUSDShort
by tired_man_willis
1