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Bitcoin 203-27-2018:Bitcoin 203-27-2018: Bitcoin is going on Zigzag Elongated ABC corrective wave; Wave C went correctly to 161.8%. However, currently we notice that there can be two possibilities may happen. - Possibility 1: Bitcoin’s corrective wave seems to have ended, and Bitcoin is going into an up trend (purple waves 12345 shown in chart). - Possibility 2: Bitcoin will continue to go on extensive wave 5, wave C of the Zigzag Elongated ABC will continue to go back to 261.8% We recommend you not to sell or buy at this zone. If Bitcoin reaches $8200, we can claim that Possibility 1 will happen. In contrast, if Bitcoin breaks $7716, it will decrease sharply as predicted in Possibility 2. Please wait for our updates.
BITFINEX:BTCUSD
by Beemaster
Conservative Area for Short Entry for BitcoinAnywhere between $9,050 to $9,150 would be a great conservative area to entry a short position. In fact, I would say if you were aggressive and willing to take more risk, you could even start scaling in right now around the current $8,950 level. The daily 200 MA is currently sitting around the $9,150 and should be a major area of resistance. Especially given that the RSI is oversold on the hourly and approaching oversold on the 4hr as well, I am doubtful the bulls will have enough to push through that level today. Furthermore, we have seen a nice rally in the last 3 days. Long that have been buying in from the 7.3k - 8k will be looking to take profits at some point, hence I believe if we are rejected from the $9,150 daily moving average; the drop could be rather violent. Compound this with the fact that we will be getting the death cross on the daily in 3 days if the price does not rally significantly; this is one of the best opportunities for a short I've seen as of late.
BITFINEX:BTCUSDShort
by Coindicator
1
BTC/USD Technical Analysis 26/02/18Dear Viewers, Welcome to my first TA on Tradingview. Let's get right into it ! As we can see, bitcoin is still in a Bearish mood, we can see that thanks to the RSI still being under 50 and the MACD is about to cross downwards on the daily charts. I hope you tethered out before this bearish mood started, there is a possibility that bitcoin drops furthermore towards the 8.5k. On the other hand, we will start seeing a bullish mood if bitcoin breaks the red dotted resistance level it failed to break before, but in order to make that happen, it has to get threw a few resistance levels I marked with a green dotted line. For now my mood is to short, as is other technical analysis, do keep an eye on bitcoin if it breaks through these 3 resistance levels, that shows us that the bullish are trying hard to get past that huge resistance level. I would not trade anything at this moment, the market is, as always, unpredictable. The only thing we can do is to try to figure out WHAT COULD HAPPEN . Thanks for reviewing my first analysis on trading view, don't forget to leave behind any comments on what you think about this easy TA without any ABC waves, triangles and such. Raw_Blitz out.
BITFINEX:BTCUSDShort
by TjerkPieksma
BTC poised for another leg down.....Bitcoin appears to be at a critical juncture. Up, Down, Sideways? Those are the questions. Many believe, or hope, Bitcoin is preparing for the next springboard up above the top of the resistance channel. (Top Pink Line) Of course from the beginning of this correction / decline this is the 3rd major attempt that has been rejected so far. All previous rejections were followed with more massive downside price action. From the high to now the price has been literally cut by more than half only regaining a few thousand off the last bounce of the lower channel line. (not visible on current chart). What I currently see is the following: 1. The price was rejected again off the top channel trend line 2. The price has fallen and remains under the 50 and 100 Daily EMA 3. The price is currently trading under the $10K line again 4. The price is currently forging a triangle that if the ABCDE patterns plays out should break to the downside. Prediction: If this triangle breaks to the downside BTC could trade below $9K, perhaps as low as $8,200 area in the near term. If support continues to fail, even lower as time goes on. Disclaimer: I am a long term fan of Bitcoin. I was buying them before most people even knew what they were. I will hold some for long term investment / profit while trading others for short term gains. That's my plan and I'm sticking to it :o)
BITFINEX:BTCUSD
by BitcoinBearSlayer