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$BTC MORE DOWNSIDE COMING? | Hell Week UpdateBTC made a descent as we anticipated, the question is do we have more room to go? Is this the end of this cycle's bullrun or do we have a 2 top cycle in store for us? | Currently, we are seeing a nice relief rally off $31k; I'd say it's safe to say $29k is in the books if we can't break & hold above $35k. These next few weeks, patience will be key. We most likely continue to see some pretty big wicks both ways in an attempt to trap. Watching $32,600 & $33,300 as resistance this next week, if we break over we must watch for the test at R2 . Over the next month, we could see a retracement toward $35k and possibly $37k but this move could be to hit a retest of before the continuation toward the downside. (any chance of bullish we MUST) Breakout and retest as support of R3 would confirm a bullish move is inbound targeting $40k range. On the larger scale (1D), we sit in a potential head & shoulders pattern which will result in the end of this beautiful 2021 bullrun bringing us down toward 2017 highs to hopefully hold support. We'd all like to see it run to $41k/$42k to confirm this head & shoulders but there's a chance selling will just continue. Way too much selling to be stopped until bigger players come to play and I personally doubt they want to unload at $30k. $24k and $18k are targets for those players. Time will tell, longterm holders will win regardless this is just another opportunity to reposition. Share your thoughts below DCJ | Charts Plus EasyLoot.com
by DotcomJack
Bitcoin Trade Setup - Swing Trading Shorting OpportunityBitcoin Trade Setup - Swing Trading Shorting Opportunity Bitcoin looks weak but that doesn't mean you short it right now. It is forming a triangle pattern and so let it breaks the downside. You can short Bitcoin once it breaks the red supporting zone. If you're a conservative trader, then wait for a break from the red zone and retest the red zone again. If you get any rejection at this key area of value, then you're good to go for short. Follow me, to get the future prediction.
BITMEX:XBTShort
by AkmeAnalytics
Bitcoin Symmetrical Triangle Breakdown Trade SetupsBitcoin has been stuck in a symmetrical triangle after the initial head and shoulder breakdown from the ATH of 64K. While we might have preferred for Bitcoin to break to the upside, we noted that the false breakout to the upside that we did have substantially increased the likelihood of a break to the downside, which is what has occurred. Price broke out of the triangle to the downside with strong volume and have continued to the downside following the initial break. If you missed the initial short at the point of the breakdown, here are three potential trade setups to watch out for: 1. Short on retest and rejection at the point of breakout, which is likely to be around the 35.5-36K region. 2. Long on a reclaiming of the symmetrical triangle if price rallies back within the triangle and establishes the bottom of the triangle as support. 3. Long on a false breakdown at 30K if price breaks below 30K and then quickly recovers above 30K with strong volume I personally wouldnt be opening up a short right now, as even if we are in the beginning of a major leg down, there is a high likelihood that we at least retest the point of breakdown before doing so, Of course, it. is up to you if you want to open a short here and perhaps add to the short if prices retest the point of breakdown or if price definitively break down below 30K. How you choose to play and trade this current structure is up to you, I can only provide the potential scenarios based on technical analysis. As always, I’m not a financial advisor, do your own research, and stay safe!
by cryptotraderog
SHORT BTC / USDTChina may concentrate most of the world's cryptocurrency mining, but it is increasingly hostile to these digital assets. "It's doomsday for crypto commentators," warns a commentator who calls herself "Woman Dr. bitcoin mini" on Weibo (a Chinese microblogging site). In recent days, several accounts of influential Chinese figures in the crypto sphere have been blocked. The offensive appears to have started on June 6, notes The Guardian. During the weekend, several profiles such as that of Woman Dr bitcoin became inaccessible. People who attempt to access them now only see a message saying that this account is "against the law." These measures may seem surprising. China is indeed the most active country when it comes to crypto: this is where 75% of bitcoin mining activity takes place. These restrictions are, however, only the most recent step in a much larger Chinese-led offensive against cryptocurrencies.
Short
by HolderYoda
Bitcoin's Triangle Pattern Can Send The Price LowerHi Traders, The structure of Bitcoin's decline from the ~$64950 high has been taking the shape of the classic Elliott Wave five-wave impulse pattern. Wave (iii) is very extended and its five sub-waves are really visible. The corrections are also following the guideline of alternation, wave (ii) is a sharp zigzag correction, and wave (iv) unfolded as a sideways triangle pattern. According to the theory, once a correction is completed the price will resume in the direction of the impulse. Just like wave (ii) alternate wave (i) before wave (iii) sell-off, price is expected to resume wave (v) decline as the wave (iv) correction is completed. The decline in wave (v) can be as large as that of wave (i), if this count is correct, a decline below wave (iii) low of ~$30028 is very plausible in the weeks ahead. The confirmation level and invalidation level for this setup are highlighted on the chart. Do you think Bitcoin will suffer another notable decline? Let me know in the comment. Thanks for reading!
Short
by Veejahbee
2
Bitcoin - Triple Top,Correction,Continued Fall Beginner's reviewHello, all the participants of this platform. I'm new to trading. So you don't need to take my feedback seriously. This is just my opinion, my review and nothing more. I have never been involved in trading, I have only studied this area, kept my diary, recorded my observations, and created my own personal training program for myself on which I plan to trade. If you have any comments, write about it, I will gladly accept all the information and write it down for myself in my diary... Now, after the "reset" of the entire cryptocurrency that I expected, I decided to try my hand at trading and start trading. At the moment, I want to analyze bitcoin itself, as everyone knows that a lot depends on it. This whole trading idea is shown on the chart. At the moment, I have a long open position on this position from 37400. For a long time, I analyzed the chart, market psychology, and levels. My main goal in this position is 46800. (first goal) I plan to close a small part of the position there. In the near future, there will be an intersection of moving lines, which is called the "cross of death" Judging by the previous such intersections, the market looked short. For this reason, my analysis of the global short is still so.
Short
by blackwolfmm
1
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
Sub 30k soon? Been waiting for a while for this triangle to play out, but it looks like we've just about reached completion. Look at the RSI (white line indicator) while the price is bouncing in the triangle then breaks the support and retested the bottom twice now. I think that's wave E so I'm expecting a move lower soon. First target it 30k then 25k then 21,500 is my lowest target. Some people even say 13k but.... I think that would mean something is wrong Crypto is full of surprises though so do your own research. I just don't think we've really had that Panic mode yet where people think it's all over (which is when we buy, cause we're smart money... Or at least trying to be lol) ***Remember!! We are in the final stage. You need to decide where you're getting off this ride because we are in the final chapter of the 1st volume of the Bitcoin series. You can hodl... But you better be ready to hodl for 5-6 years and have that money fluctuate wildly as we deal with economic fallout of our government destroying our currency. ***Also remember, if you are leaving all your money as cash in the bank you may get destroyed. It doesn't matter if your deposits are FDIC insured if the dollars can't buy you anything. I recently bought physical silver and feel much safer even though everyone thinks it's a moronic thing to buy. That just makes me want it more! Not financial advice.
BITSTAMP:BTCUSDShort
by MonetaryRebel
9