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BTC/USD (Retest 50D MA>New Resistance or Not?)BTC/USD -new key low support is set at 9k area -Bitcoin closes below the 50D MA -it will now retest the 50ma and trendline resistance -decision time for the market -are we going to break higher or come back lower? -technically, we are still on a big sideways market -it is still high-risk trading within the ranging price action -my bias in the short term is to test the low 9.5k range -I will update the status once we get there
BYBIT:BTCUSD.PLong
by PolarHusk
BTC/USD (New Trendline Resistance)BTC/USD -rejected at new downward trendline resistance -the price went back to the key support area at 9.3-9.2ks -this is a crucial time for Bitcoin -if we want a bullish position, we to see a break of 9.5ks zone -but if we are looking for a bearish position, a close below 9ks is a sign -I recommend not to use high leverage inside the consolidation zone -the price can go up/down in an instant -the safe way to trade BTC is to wait for a clear market direction
COINBASE:BTCUSD
by PolarHusk
4
BTC/USD (Local trendline break; Bullish Pattern still valid)BTC/USD -Bitcoin manages to break the local trendline resistance -closing the daily candle bullish -new higher low is set at 9.2ks area -upward trendline of ascending triangle still valid -the priority is back to the bulls -we may have a high chance to retest the 10k major resistance -notice the volume decline approaching the triangle apex -it is telling us a large move is about to happen -be ready and always use a strategic stop loss area
BITSTAMP:BTCUSD
by PolarHusk
BTC/USD (Still Holding Critical Trendline Support)BTC/USD -the Bulls may have temporarily held the ascending trendline -technically, the bullish ascending triangle is still in-play -the first challenge is to break the minor resistance at 9.6k -if BTC can do that, then retest it as support -BTC may likely go up to 10k resistance area once again -the good news is, going above 9.6ks will bring some Altcoin action -we will expect another consolidation for a few days -then we will wait for the market decision (break up/down)
COINBASE:BTCUSD
by PolarHusk
1
Intermarket Analysis - BTC/BTC.DI like to look at what is going on from an intermarket perspective. So what is important here? 1. Bullish - Even if the higher high is set, we still need to put in a higher low. So we can expect a retracement if we break to new highs. This would be healthy market activity. 2. Neutral - Even if a lower high is set, we would see the start of a new bull market take place if a higher low is formed after the lower high. 3. Bearish - If a lower high is set, a lower low could form and bring this correlation to new lows. The weekly RSI is clearly in a downtrend on this chart, and the same bullish, bearish, and neutral rules apply for the RSI. In all of these scenarios, we will see lower prices. I will be targeting the purple rectangle for buy opportunities.
BNC:BLX
by derzzycharts
The Value ZoneThis chart is a relative strength chart of BTC/SPX beginning at the inception of BTC. There are some very interesting relationships here and multi year trend lines that have mapped out what I am calling the last 3 bull markets. 1. The value zone is denoted by the purple rectangle. Whenever the price for bitcoin is in this region, it is an accumulation phase before the larger bull run. 2. The fib channel provides the end of the bull run blow off top for all of the previous bull runs. These can act as exit points after the major bull run. *Note* This idea relies on the fact that the BTC/SPX ratio has already hit its lows. This does not mean that BTC itself cannot hit new lows. For example, if the relative strength was at 2 and the SPX is at 1500, then BTC would be at 3000. Anything above 1.65 does not break the higher high trajectory. If this ratio breaks to new lows, a new fib channel will have to be estimated.
BNC:BLX
by derzzycharts
2
BTC/USD (Back into the Consolidation Channel)BTC/USD -this setup is for Bulls and Bears -Bulls face rejection at 10ks -currently, BTC is holding the immediate support @ 9.5ks -the ascending trendline support still holding -can the Bulls regain the low 10k level again? -it is a tough question to answer -but like the old saying “The trend is your friend” -as long as BTC will hold current support levels -trading priority will remain to the upside -provided minor or recent top will break -please see the chart when to enter a position
BITSTAMP:BTCUSD
by PolarHusk
2
BTC/USD (Monthly Candle About to Close Slight Bullish?)BTC/USD -the month of May is about to close -the candle is looking bullish as of this writing -if this candle closes above 9.3k -we will have a higher chance to retest 10.7k -10.7k is the monthly candle body resistance area -and the downward trendline resistance from Dec 2017 high -if ever we reached the 10.7k region but failed to break -I'm expecting BTC to move sideways for a few weeks -overall, the market is getting for a larger move
BITSTAMP:BTCUSD
by PolarHusk
12
BTC/USD (4H Downtrend? Expect a minor bounce?)BTC/USD -two times rejection at the previous support area -now flipped into a new resistance zone -as the price dropped, it reacted immediate only 200ma -a confirmed new downward trendline of resistance -technically, we are on a 4H downtrend -and bigger equilibrium with a price range of almost 20% move -if you are a Bull, a break of trendline resist -and closed above 9300 is a new start again -Bearish side if the green support fail -and confirmed new resistance, signals short position
COINBASE:BTCUSD
by PolarHusk
BTC/USD (Crucial Area for Bulls and Bears)BTC/USD -the has touched the ascending trendline support -also, just barely above the previous higher support area -this is a crucial time for the bulls -they must act now and do not let the price -close below this trendline of support -otherwise, bears will get the chance to enter the market -though we are still in a bigger equilibrium channel -touching below the lower channel will increase the bearish side -the price action could still go both directions here -wait for the trend reversal before making any big decisions -scenario one: break of trendline, Short is priority -while a break of the upper channel resistance is a bullish entry
COINBASE:BTCUSD
by PolarHusk
BTC/USD (Bullish Continuation Pattern?)BTC/USD -bullish rejection at moving averages support -our new immediate support is at 9.1k -current pattern forming is a symmetrical triangle -the market trend is still up -if this is a continuation pattern -we have a higher chance of breaking to the upside -our upside initial target is 10.5k -the trading strategy is entering a Long -if we see a break of the pattern to the upside -stoploss is set 9.5k -market sentiment is bullish
BYBIT:BTCUSD.PLong
by PolarHusk
3