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Bitcoins Big Bears Shakeout Part 2, solving the puzzle. UpdateI am going to keep it short this time. So far Bitcoin is having some trouble with the heavy resistance at 9000/9200. But what's not in favor of the bulls as well, there still has not been a healthy correction.We need to see if buyers are willing to buy it at a higher low and push it back up again, instead of everyone getting bearish again if would would drop to 7500/7000 within a few days. That moment the market must show it's hand to give confidence the bear market could be really over. Now it's still to much FOMO and that's just not sustainable for very long. Alt's have been very strong lately, but some of them are showing some top formation's as well. But i have to say, we saw these formations in November/December as well and price just kept pushing higher and higher. But sentiment was extremely bullish than and the crypto hype engine was at it's ATH. I don't think people dare to HODL with big amounts like they did in 2017. I think everyone with serious money has his/her finger on the sell button in case prices start to drop again. IMO this has to change for the market to start get real confidence again and people are willing to catch the price at each higher low. That's why i keep saying, that making a correction is more bullish than making rallies like this that eventually fail (like we have seen many times in the last few months). I have a short position on Bitcoin again, after the first one failed yesterday. Price jumps are slowing down, price is hesitating around a big resistance level. But we need to see a serious drop below the 8600/8500 to be able to say that a correctional phase will start. So far it has made a lower low on the short time frame, but it's still close to the high. So if we keep staying above the 8750 the next 24 hours, than chances increase allot that Bulls will push it through that big resistance. If we do drop today, we could see that H&S getting a real form. Don't forget to like if you appreciate what i am doing :) Good luck trading
BITSTAMP:BTCUSD
by botje11
241
Bitcoin 3 hr thoughtsThe TD 9 only corrected on itself on the 4hr chart (9 candle went down) and I've noticed the 4hr TD count hasn't been very significant/helpful recently. I have found the 3 hour chart to be more helpful over the last few weeks when it comes to the TD sequential indicator so I want to share my thoughts here. We have been working on this symmetrical triangle and the price could go either way in my opinion. I do have a target of $1500 to either side though with a possible rebound at 5k-5100 to the downside and an upside target of $8600. At the very least I expect a 1-4 candle pull back soon when a 9 shows up in 2 candles time (3 to 12hrs downside). If Bitcoin shows strength and rallies up to 7150/7200 with no significant pull back, I will jump back in on the long trade with a stop loss around 6800. Reasons for long : I honestly don't have a lot for the short term and you'll see why in my 'reasons for short'. * The 50 week moving average seems to be holding up the price well *Bitcoin is getting close to being unprofitable to mine and I would speculate that some of the huge companies now involved would try to pump up the price if it became unprofitable. Bitmain declared more profit than Nvidia last financial year so I'm fairly confident there is enough money out there to keep it profitable to mine and I will start buying like a mad man around 5k. Reasons for short: *We have been trading under the 200day ma for an extended period. The last time this happened we had a 15 month bear market. * We had a death cross recently (50 day dipped below the 200 day ma) * We have had too many opportunities to buy within 10% of the swing low (6500-6600 range) and Bitcoin usually doesn't give you this much time to buy that close to the bottom. * I have seen some massive shorts over the last week in the order books which makes me suspicious that the Mt Gox trustee is back to selling (up to 5k bitcoin at a time). * At 5k Bitcoin is still up %500 in a 12month period so it is more possible than people realize. * If the 50 week moving average is broken, the last time this happened there was a about 12 months of trading below it... Not a good sign.. I'm short right now but long term I'm still bullish for BTC so I'm ready to move with the market and change my position as needed.
BITFINEX:BTCUSDShort
by AussieCrypto1
GBPUSD reacted off resistance, further potential drop!GBPUSD reacted off our resistance at 1.4096 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance). A strong reaction might occur at this level, pushing price down to our major support at 1.4013 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension,). RSI (55) is also facing bearish pressure from its major descending resistance line and a reaction off this level might see a corresponding drop in price. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk
Short
by Tickmill
AUDNZD approaching support, potential rise!AUDNZD is approaching our first support at 1.0623 (horizontal swing low support, 100% Fibonacci extension). A strong bounce might occur at this level pushing price up to our major resistance at 1.0691 (50% Fibonacci retracement, horizontal overlap resistance, 61.8% Fibonacci extension). A breakout of our intermediate resistance at 1.0657 (horizontal overlap resistance, 23.6% Fibonacci extension) might provide a bullish acceleration to our major resistance level. RSI (21) is also approaching its support at 34%, a good precursor for a potential rise in price should it bounce off this level. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Long
by Tickmill
1
BTCUSD approaching support, potential rise! BTCUSD is approaching our first major support at 8347.1 (38.2% Fibonacci retracement, 61.8% Fibonacci extension, Horizontal overlap support). A strong bounce could occur at this level, pushing price up to our major resistance at 9492.3 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing high resistance). A breakout of our intermediate resistance levels might provide further bullish acceleration to our major resistance level. Stochastic (21,5,3) is approaching our major support at 9% and RSI is also approaching our major ascending support line at 40%, a good precursor of a potential rise in price should it bounce off this level. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
BITFINEX:BTCUSDLong
by Tickmill
5
Bitcoin Buy 10 -17 % short term easy gain potentialNow is a good time to start layering long positions for a second impulse off of this small retrace for those who missed the bus on the original impulse up. the BTCUSDSHORTS table shows the market entering about 2700 btc worth of short positions, nothing compared to the amount that previously entered longs but the rsi and macd are down ticking signifying that bulls are losing momentum short term, nothing to worry about just a short correction. After that we will no doubt see another impulse up because we have only made one impulse out of the falling bearish wedge and can expect at least 2 impulses in an abc correction before continuing the downtrend, we have also seen an improvement in market cap, increased trading volume since the pivot at 7300, a large rush into long positions on the BTCUSDLONGS which has only recently decreased very slightly in this correction. that said, I would buy now and add to my position off of any further correction which I believe we could see to the 8100-8k ranges at the very lowest, no guarantee it goes there though, but im confident it will go up so I will start buying now.
KRAKEN:BTCUSD
by DCannEFYibal
Here Is A Bitcoin-Scenario You Need To Be Aware Of - Must See!Dear Friends! How do you become a good trader? Do you think you are good at predicting things? D4rkEnergY has said it before, but he will say it again: Good forecasters all share one trait (besides being intelligent): open-mindedness . In everyday life, open-mindedness may be mistaken for having liberal political views, but in psychology it is thought to reflect how well you deal with uncertainty. Crucially, open-minded people tend to be able to see problems from all sides, which seems to help forecasters overcome their preconceptions in the light of new evidence. So what does that mean? You probably remember, when I made this prediction 2 weeks ago? 2 Bitcoin-Scenarios You Need to Know About - The Chosen Ones! 2 weeks has past, and D4s 55 % scenario has so far been spot on. But we now also have more data, and we should always be open for new ideas and new plausible scenarios. And therefore, here is a new one, you should be aware of. It doesn't change that much, but it is important to pay attention to. So let's jump in! We are taking a look at the 2h BTCUSD Chart. Let me just throw it out immediately. D4 is still super bullish on Bitcoin! We are still in an uptrend and the 1D and 4H chart also look bullish. What I have shown in this chart is called a leading diagonal (the ascending wedge). We here assume, we are on the 3rd Elliott Wave. I don't want to go too much into Elliott Wave Theory, it might be too complex. But when we are talking leading diagonals we are allowed, as you can see, to let the 4th subwave go into the 1st subwave price territory. Anyway. So the 1st EW, in this scenario, started from 5,9k and went up to the yellow dot. As we know ascending wedges are bearish, and as you can see, we also fell out from it. At this very moment we are going sideways, and a bear flag has been created. IF the bulls don't manage to push the price higher very soon, the bulls will be exhausted, and we will fall lower. We will probably fall to around 10,7k which is equal to the 38,2 % Fib Retracement level. Hereafter we will go up again and test the inverse HS pattern. And we are back where we started. So here is D4s advice to you guys: Always keep your eyes open for new ideas, and new plausible scenarios. Be open-minded when you trade and also in your life. D4 loves you <3 PS. Please give a BIG LIKE and FOLLOW. I now got more than 700 messages from people who wants to be 1 out of 100. Guys, be patient. D4 will reveal everything on Wednesday, and how to become One of The Chosen Ones.
BITFINEX:BTCUSD
by D4rkEnergY
58
118% Return by 16th February!There is a strong support level at $10,000 at the green horizontal line, partly because of the strong uptrend at this level but also a psychological support level. I expect that at this price, many whales will rush to buy. That being said, I find it unlikely that it will go below $10,500. There is a bullish flag pattern (in purple) signifying a trend continuation of the previous uptrend, we can expect the height of the previous climb being the maximum amount this breakout will raise the price of BTC. The pattern is approaching the support level and once it reaches this, we should see a lot of bullish activity and volume. This movement will move in the direction of the green arrow. I suggest to buy within the price range of $10,000 - $12,500 however I believe you'll also gain a nice profit if you buy at a slightly higher price too. Targets are right below visible resistance that the graph has shown and are as followed with percentage profits calculated using buy range stated above: Target 1 : $16,768.69 Profit : 34% - 68% Target 2 : $19,217.66 Profit : 54% - 92% Target 3 : $21,862.55 Profit : 75% - 118% Now I believe that once the $20,000 price is breached, there could also be a very strong psychological support driving the price even higher! For this reason, I would recommend keeping some of your investment after Target 3 has been reached. If you have any questions or comments, please comment or send me a message, I try to reply to them all :) Please keep in mind that I am not a financial adviser, please trade at your own risk.
COINBASE:BTCUSDLong
by XheklondoDedvukaj