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Bitcointraders

Bitcoin: Bear Party? Don't Ignore These Support Levels.#Bitcoin has established a new lower higher off the 7K resistance area, BUT is this a signal for bears to run rampant? In this video I explain why the following support levels should not be ignored since there is a greater probability of a higher low developing. This can be particularly insightful for those who are not sure whether staying in a long position makes sense. We use patterns of order flow to gauge probabilities and then apply what we learn within the boundaries of our LONG only swing trade strategy. We rely purely on TECHNICAL analysis, not biased news or irrelevant opinions. Keep in mind, you do not have to agree with this evaluation, I just hope to provide a road map of potential inflection points. How Bitcoin reacts at these points will be determined by the price action unfolding at that time. 1. The fact that the key resistance at 6425 was compromised is a structural change that is NOT obvious, particularly to those who focus on small time frames. For our strategy, it means that the bearish weight presented by the recent sell off (10400 to 3800) is less. This increases that chance that the next bearish retrace is followed by a higher low or failed low, rather than a lower low. 2. The first inflection point is the 5800 level support. This is the .382 retrace relative to the recent bullish swing. This does NOT mean price WILL reverse precisely here, but it is an area where we can ANTICIPATE a change in order flow. IF Bitcoin presents the change, and provides a continuation pattern to go long, we will be prompted to share a new swing trade long idea. 3. The second inflection point is the 5K AREA. This support zone is relative to the recent bullish swing as well, which is smaller in magnitude. The key here is how price behaves IF it probes this low. If the lower boundary is cleared with little effort, THEN a lower low becomes likely. Otherwise, based on the price action at the MOMENT, it makes sense to anticipate a bullish reversal pattern in this area which will again, prompt us to share a swing trade long idea. Timing markets is NOT about predicting, it is about anticipating and ADJUSTING. Charts can help to a point, but unless you are an insider, there is a high degree of randomness that we must always consider. In reality, the lines on a chart do not mean anything unless you ACCEPT and UNDERSTAND a key concept about how markets work: logic does NOT drive prices. This means in order to win, you must evaluate market information from a behavioral perspective.
BITSTAMP:BTCUSD
by MarcPMarkets
13
BITCOIN ABOUT TO MOVE UP!!BETTER BUY SOME BITCOIN NOW BEFORE NEXT MOVE, I HAVENT SEEN ANYONE SHOWING THE 21 WEELKY MA. LOOKS PROMISING, I KNOW THE MACD LOOKS BEARISH BUT IF YOU ZOOM IN ON THE MACD IN LAST BULL MARKET ITS DONE THE SAME THING, IT BARELY CROSSES THEN CROSSES BACK OVER WHEN BOUNCING OFF THE 21 WEEKLY MA. LONG TERM CHART ON THE WEEKLY BUT MORE PROMISING ON BUYING OPPORTUNITY. BEEN LONG SINCE THE HIGH 3K IN FEBRUARY. BUY YOUR TICKETS TO THE MOON NOW BEFORE ITS TOO LATE.
BNC:BLXLong
by Crypto_Gardener
2
PUMP....and....Wait For It......DUMP!!!WTF is going on? I have no clue but look at this thing its more of the same but different. In the end, it's just a chart and charts are lulz. I've eliminated all the extra indicators and highlighted key resistance and support zones for the mother of all BULLS, BTC. Expecting this mega transforming monster beast to go full BEAR in a matter of a few days or so....maybe...? Note the Vegeta Meme support line and the price action that occurs in this range whenever the meme game on Reddit r/bitcoin gets weak the price fails to break the 9000 support level but then them damn Redditers step up their game perhaps with a little help from the #cryptotwitter fam to push that price over the top. Nothing new here, just a little image that shows some squares and triangles and different colored lines. I like how the green and red columns respect the long term bull trend and bounce like a ping pong ball off of the higher resistance levels. One of these days we'll break the trend but it won't be today, or it might but probably maybe...or not. WHO KNOOOOOWWWSSSS?????? Not me. I expect, with a fresh round of futures that the boys on the street will be manipulating the price down to the One Year Trend. Long term HODLERS won't be shaken out very easily and the smart ones have already taken profits. The price is coming down short term but will be on the moon, soon. Don't be the guy who buys high and sells low. Pay attention and have a plan. Take a friend, it's dangerous to go alone. I only recommend sleep. Get some good sleep. Charts are silly, good luck.
BITFINEX:BTCUSDShort
by UnknownUnicorn1781136
4
Bitcoin's Fate 4hr ChartSo BTC is finally coming down to this critical point. It's been on that downtrend getting tighter on the 4hr chart. Over the past week we've had Lower High's but we've also had Higher Low's. (Hence why I said it's tightening up). RSI is showing some bullish indicators too as you can see. EMA's are almost caught up too so all we really need, imo, is some volume to come in on the buyers to push them above. Once those 2 EMA's cross we will get a good move. Finally, we've had some pretty positive news as of late so to be quite honest, I'm hoping for a bull move.
BITSTAMP:BTCUSDShort
by tired_man_willis
5
BITCOIN MID-LONG TERM BULLISH! HIGH TARGETS EXPECTED!Bitcoin COINBASE:BTCUSD is currently forming a symmetrical triangle. We expect a continuation of the A,B,C,D,E correction. As currently pictured, we are on wave D, the corrective wave E is expected next. Side note: We do not need to complete wave E to breakout to the upside as momentum can carry us to a bullish continuation of our previous trajectory. Wave D can show a minor retracement and then slingshot right up. If price breaks below our pennant, we will be looking for a possible bearish scenario which can take us to the $10k's. This is where stop losses are crucial. If price raises to $18,000 and reverses, this can be an indication that we have formed a bearish flag. Be on the lookout for that. Short term targets are $16,100. Mid term targets are $23,000. None of this is intended as investment advice. Do your own due diligence and trade at your own risk. P.S. never trade with any money that you cannot afford to lose (comfortably).
COINBASE:BTCUSDLong
by faixapreta
Bitcoin 9.11 Hey everyone, Yesterday As I published Bitcoin was closed to $7900 and as expected fall down that's why I always tell you to pay attention when you purchase Cryptocoins, Today I see a divergence on the oscillators that don't confirm the Bitcoin rally it's for a very short-term correction soon will start making a correction upside and the volume keeps on increasing. I recommend purchasing again when it will be on 6950 USD as I see at the moment if there will be a change I will update. Cause It can save you a lot of money in the future. I got a lot of messages last night about analysing Bitcoin, sorry if I didn't reply, I'm trying to give an answer to each and everyone so please understand me I wish I could reply all of you at the same time.
COINBASE:BTCUSDLong
by LeoAbramovich
2
BITCOIN 7.11Hey Everyone, Bitcoin, as we said, had 3 crazy days that was not safe to buy cause when you buy the coins it takes time and in the meanwhile, you could have bought much higher price and lose money by that. As Swiss bank Credit Suisse embraces digital money and also as Bitcoin will be traded on regulated Chicago futures exchange I see that the volume of Bitcoin will increase after a small movement downside probably to $7150 - 7050 - 6950 ( the support levels) and the resistance lines are 7200 - 7250 - 7400 so pay attention when you purchase Bitcoin.
BITSTAMP:BTCUSD
by LeoAbramovich
3
BTCUSD - Levels to watch nowWe have fallen out of the initial rising wedge identified with not much continuation to the downside - instead, forming the first descending triangle and subsequently breaking up, thereby continuing the formation of a larger rising wedge. Currently, we are in formation of a second descending triangle. Key to note that descending triangle formations are usually bearish, but as with the first triangle that was formed, this is not always the case. Depending on the levels that price breaks against time, closing candles outside these levels with strong volume will drive further movement. Key to note that on BFX there are currently more net shorts than long currently, and as per most EW analysis, we are due for a wave towards the downside. Conversely, strong moves towards the upside might create a short squeeze situation to take note of and pump prices higher than markets intended.
BITFINEX:BTCUSD
by Jeuvici
A clear path to successBitcoin has been performing beautifully since February 2016. It has been a year of spectacular growth, and I'm fairly confident this will continue for some time. Why? Let's consider some basic things. In the past few weeks, we witnessed bitcoin drift sideways for almost a week at around $1010 USD. This is something that bitcoin has never done. There is only one word for this- stability. The price of bitcoin has gained tremendous value, while at the same time, gaining a great deal of stability. This alone is a good reason to be long. Secondly, the world is beginning to find out about bitcoin. The spot light focused on bitcoin has revealed a very powerful strength in its nature. There has always been some underlying fear that bitcoin is just a form of money for people to buy illicit items with. However, the public and political scrutiny looking for illegitimacy has exposed just the opposite, and thanks to social media, everyone found out very quickly. The serious people in the world are done thinking of bitcoin as sketchy computer money, and are beginning to see it for what it is- a technological advancement to how humans store and transfer value, make transactions, and protect wealth. Let's also consider the nature of the world. If you look back through all periods of human history, you will find that no Empire has ever endured, and in the failure of an Empire, comes the collapse of a currency. No governments money has ever maintained and gained value over the long run, yet, decentralized assets like gold and silver, have held and gained value since the beginning of time. Why? because they are rare, and because they can't be reproduced, what the earth gave us is what we get. This rare and irreproducible nature is what creates the opportunity to assign arbitrary value. This arbitrary establishment of value is a spark in a society of fuel. If the fuel doesn't ignite, the asset dies, but if the fuel ignites, the asset gains traction and develops value very nicely. Obviously ignition occurred after gold and silver were given arbitrary values. However, gold and silver have a major drawback that bitcoin does not. Gold and silver are not practical in an advanced world. They are difficult and costly to store, lack an easy and precise mechanism for partitioning, and they can be counterfeited. This is where bitcoin comes in. Like gold and silver, bitcoin is a rare and irreproducible asset that has experienced ignition after being assigned value in 2009. But, it is not impractical like gold and silver. It is easy and virtually free to store, perfectly partitioned effortlessly, and can't be counterfeited. This advantage that bitcoin holds over gold and silver is also a good enough reason alone to be long. Finally, Bitcoin has the potential to be bank friendly, and it has the ability to be lawfully legitimized, which is why it can survive the journey to becoming mainstream. This sentiment has already been expressed by the United States government, and it will continue to be expressed by countries around the world. Why? Because of competition. When it comes to technology, humans must give in, because those who refuse technology get left behind. Technology is the newest arbiter of evolutionary success, and it can powerfully impact an individuals or a societies ability to survive. With all this being said, bitcoin can still fail, but what investment can't? To me, it couldn't be more clear how good of an investment opportunity this is. Bitcoin has a strong technological foundation, the support of thousands of years of history, and the ability to transform human transaction- a brilliant, and immensely valuable utility.
COINBASE:BTCUSDLong
by jfs2152
7