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Bitcointrading

Bitcoin- I've become from bearish to strongly bearishTwo days ago I closed my sell shorts expecting a relief rally and yesterday, after the break above 42500, I expected at least 46k resistance to be touched. Even I, as bearish as I am on medium-term, didn't expect such a strong reversal. And this quick fall to 40k again tells me one thing only, Bitcoin has more to fall. From a technical point of view, Bitcoin has traded in a range in the past month, from 40 to 44k or so, and this rectangle should mean continuation once 40k is clearly broken. The first clear support is at 35k followed by the strong 30k support. Bitcoin above 45k would put a stop to this scenario
BITSTAMP:BTCUSDShort
by Mihai_Iacob
129
BTCUSD 15M Chart Analysis Swing Trades!Play the chart with simple rules: Buy/Sell into entries when the candle completes above "Long Entry", or when candle completes under "Short Entry" Have small stop losses (10-15 pips) in order to not encounter a fake out (goes above our entry line and goes back down for example) Play with 2-3 positions when going into a trade, Take first 1 out at TP1, 2nd one TP2, 3rd one try and let it run to TP3 and create its stop loss @ TP1 to lock in profit no matter what happens.
BITSTAMP:BTCUSD
by CoverchefsFX
Bitcoin- And down we goIn my previous analysis, I said that I don't believe that the correction will have the power to reach 46k, and looks like I'm right, with Bitcoin breaking under what should have been support at 42500. Bulls are very, very weak and I expect to see 40k figure soon The real problem now is not if it will go there, but what will happen if it does. In my opinion, it will break under and the next obvious support is at 30k, interim support being at 35 I maintain my bearish opinion on BTC and the crypto market in general and I'm looking to add on my existing short trade on eventual rallies.
BITSTAMP:BTCUSDShort
by Mihai_Iacob
35
BTC pictureHere we go, different supports and resistances of interest right now. The arrow points at the resistances that I would like to be violated to turn me bullish, which will give BTC good upside momentum. However, anything below that is a short and a continuation of the downtrend. It is futile to deny that BTC is in a secondary downtrend (LH, LL structure), so you should expect continuation until the price proves otherwise. Not sure what you're all talking about. The picture is pretty straightforward so far. Did you study TA? Then ya know! The lower timeframes started a new downtrend. Are you longing here without structure? FOLLOW ME, SHARE, LIKE AND COMMENT.
by CFcryptoTA
1
BTC Elliott Wave countGM everyone, For those of you interested in my Elliott Wave counting. This respect perfectly the Elliott Wave proportion with the golden ratio. My final Target for this wave C is 28900 approximately, which will conclude the FLAT correction and sign the start of the new Bull run to 185k. This is a 600% ish gain on BTC. Imagine the altcoins. Although painful, this will create tremendous opportunities to be taken, so save your dollar because you may be wealthy in a year. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
1
BTC bear flagGM everyone, For those of you that like diagonals trendlines. There are two clear trendlines at work that provide strong resistance short term for BTC. I do not expect much from BTC right now. Clear downtrend with not strong bullish signs and volume gradually decreasing, which, although many will tell you, is a good thing. However, the reality is that the volume is dry because there is low demand and increased supply. We can see this on the few breakouts on the downside we had in the past few weeks. There is a spike of volume on the breakout due to the initial panic and then a gradual decrease suggesting lower demand. Also, as you can see from the chart, it looks like there is a clear bear pennant/flag in play at the moment. If BTC picks up some momentum on the upside, I do not see BTC going any further than 45500 unless strong volume push in and momentum start to turn. It looks to me bulls are scared right now. There is quite a firm conviction from some that BTC is bottoming out. The market is overleveraged, with many stop losses piling up on both sides. However, most of the shorts stop losses are above 46k, but the Longs stop losses are at 40k - 39k, making them highly vulnerable and bears will follow with conviction on a breakout. Although many are calling for different bullish patterns, the reality is that there is a lot of bias at this stage, and there is no clear bullish price pattern. There was a modest spring at 39500, which is bullish per see with good volume. However, the bulls follow-through was weak and with poor volume. BTC has just recently annihilated a cluster of strong supports for the uptrend, which are now all turned in resistances, and they are all sitting between 44 and 52k. I don't see much momentum, and considering the stochastic is almost overbought already, a strong push up is unlikely. Technically or you break them gradually step by step, or the asset has strong momentum behind and break through with strength... Hence in my head, I see continuation. I would reconsider my hypothesis when BTC breaks above 46k. Also, the Elliott Wave counting is not favouring an uptrend but rather a downtrend. Risk management is paramount, and you should know in advance invalidation points and your take profit, so do not copy and paste, follow your strategy as you don't know mine. FOLLOW ME, SHARE, LIKE AND COMMENT
BITSTAMP:BTCUSDShort
by CFcryptoTA
BITCOIN - Trading in its good support level🔴DISCLAIMER ***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ****** Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock/Crypto coins to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout) After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
BITSTAMP:BTCUSDLong
by PrakWorld_Traders
AT A CRITICAL ZONEIf this support zone that is 42000 to 40000 breaks it can come down to 38000 that is the next support then the next strong support is around 30000. For now it can create volatility. Many trader are just waiting for the breakout as for now its in a no trading zone and its been eating many stop losses. However if it breaks the trend line and closes above 46000 that is BULL zone expect it to hit 50000k very soon. So its better to wait for a proper direction, i am bearish on bitcoin i think it may break the support zone very soon. However i dont trade bitcoin personally i am just sharing my view. Plan your trades!! Hit like & follow guys ;)
BITSTAMP:BTCUSD
by stalkstock
1
BTC bottom and top signalHello Everyone, One of the best Technical Analysts in the world in the book Technical Analysis Explained (Martin J. Pring) explained the use of KST and different moving averages to track reversal and enter when an asset is bottoming or exit when it is topping. In this two indicators system, I use the 12 MA for short term price action and the KST, which track four cycles at any time, giving more weight to long term cycles. This system is very useful as it provides reliable signals, bullish or bearish, by following five different cycles at any given time. As you can see from the chart, it has been very accurate for the past year. So are we bottoming yet? The system: BOTTOM: Price break above 12 MA (purple) with a bullish cross of KST, BOTTOM signal TOP: Price break below 12 MA with a bearish cross of KST, TOP signal. So following the system, I won't look for any long entry. Instead, I will look for a short position or exit on this rally. Can the system fail? Yes, it can. Likely to fail? 10-20% chance. So in trading, a system that gives you 80% reliability is an edge compared to the market. What will you do? (Comment below) FOLLOW ME, SHARE, LIKE AND COMMENT
by CFcryptoTA
3
BTC FLAT Hello Everyone, In August, I was already evaluating the possibility of a Zig-Zag correction for the 4th primary wave of Bitcoin. However, as things started to heat up and BTC broke above the 60k level, I abandoned the idea. However, back then, I failed to evaluate the possibility of a flat correction. This makes much more sense considering the alternation rule of corrections in Elliott Wave principles. This rule state that if wave 2 of a correction was a Zig-Zag (Check 2019 correction), then wave 4 of the cycle will be either a Flat, Triangle or complex (Double three, Triple three). It was then logical to discard the Zig Zag idea for this correction and embrace either a Flat, Triangle or complex correction. Considering that the possibility of a triangle has nearly failed with the break below the 50 week MA at 46k, I then moved to the idea that we are into a Flat formation. There is to say that the most common correction for wave 4 is usually a triangle. However, I believe the probability of this has now narrowed down considerably. The only possibility of a triangle here is a rising triangle. These are some of the rarest formations and usually, happen when the fundamentals and sentiments are so strong that the asset barely retrace. In my opinion, in the current financial situation, although the fundamentals of BTC are strong, the monetary policy, recession, inflation at its highest after four decades and interest rates hikes for 2022, I believe the flat formation is way more logical. If you look at the chart, I tried to show you visually the three different types of Flat formations and why I believe the regular flat is most likely. Many are hoping in the running flat. However, this is the rarest of the flat formations and similarly to the rising triangle due to high momentum wave B finishing well above the start of wave A and wave C end into the price action of wave B well above the end of wave A. Now wave B wasn't a great higher high well above A, but a fake-out that fully agree with the idea of a regular flat. In a regular flat wave, C is made of 5 waves and is usually a painful wave for the market participants. It usually retraces up until the end of wave A, and it usually finishes at 123% or 138% of the projection of wave A. Considering this, I expect wave C to end at around 29k. This also agrees with the Elliott Wave channel lower boundary, which I have drawn previously in other ideas. I can be wrong, and this correction unfolds in a complex correction with the first ABC being a ZIG ZAG, the second a ZIG ZAG, and now forming a small triangle. Nevertheless, rest assured that after this correction, BTC will hit my targets of 185K. The timeline has just been delayed. I would love to hear your ideas, so please feel free to comment below. FOLLOW ME, SHARE, LIKE AND COMMENT.
by CFcryptoTA
1