BLX 3 Down, ABCIdea for bitcoin
Possible top leading to a crazy altseason (total2 time > than TOTAL) while btc is stuck in a slow downtrend
I really would love to see the outcome of this formation, its not very pretty (bearish is possible)
Blxusdt
Bitcoin - Societal DaggerThe strength of bitcoin will continue to grow
The fixed amount is what makes this asset class so appealing
This is going to be a big change for society when the spiral is respected
A dagger for those ill-informed
BLX chart
Using geometric structures based around the spiral, A bit of Raw Gann
BTC/USD (Temporary Bottom? Potential Double Bottom?)BITSTAMP: BTCUSD
-After the massive sell-off recently, BTC might temporarily found a support
-The 10k area is now acting as a strong Buy zone after we saw a double retest
-We can see a Bullish candle together with a big green volume
-The RSI is showing a little divergence on the 1hr time frame
-Bitcoin might be ready to test the downward trendline resistance
-This is a sign of a temporary halt on the selling pressure in the short term
-It is too early to confirm a trend reversal so, please
-Be cautious, use stop-loss in all trade, and plan accordingly
BTC/USD (Bull Trap? Sideways Trading?)BTC/USD
-Bitcoin just had a Bull trap after breaking the recent high at 12.1k
-The price slowly dumping down to 11.6k located the trendline support
-We can see a Bullish reaction candle on the 1st retest of trendline
-BTC is still on an uptrend but a sign of weakness is showing
-Though the trendline of support still valid
-We still need to be cautious as the price action is making fakeouts
-Two possible scenarios for Bitcoin today
-First is to consolidate at current market price and try to bounce back up to 12.4k
-Second, the price will break the upward trendline support
-Price discover in the area of support somewhere in 11.4k range
-If the 11.4k area holds, potential bounce reaction up to 12k is possible
-I recommend to always put stop-loss in all your trades
-Whether BTC goes up or down, Most Altcoins will still suffer
BTC/USD (Short Term Downtrend?)BTC/USD
-After the ascending triangle pattern broke out
-The price hits the 12k key resistance including the CME gap before 12k
-Bitcoin drops and now trading below the upward trendline of support
-This is not good in the short term
-We can also see a strong sell volume during the blow-off top
-The key area I'm watching right now is the 10.3k-10.1k range
-Only if BTC will continue dropping and confirm this mini bear flag
-Trade wisely, don't over leverage as the volatility is back
BTC/USD (3 Possible Scenarios)BTC/USD
-I have 3 possible scenarios for Bitcoin on this 1H chart
-1st scenario is a bearish Double Top reversal
-For the 2nd scenario, BTC breaks the trendline resistance and push higher up to 12k
-My 3rd scenario would be a bearish descending triangle
-Downside target is down to 10.2k which is a good area of support
-These are my thoughts, let me know your opinion down in the comment box below
-Thanks for viewing my channel :)
Bitcoin Futures (CME Gap?)Bitcoin CME Futures
-After the trendline breakout and support retest last 22nd of July
-Bitcoin started its uptrend move to 10400 region
-If there is still left in the tank, it might even break the 10.5k resistance
-But everyone is currently looking at the CME GAP down to 9.6k area
-We all know Bitcoin likes to fill Gaps most of the time
-It would also be healthy to have a minor correction before another leg attempt
-Let us all look at both scenario if BTC will fill the Gap or move higher
-I don't recommend Shorting Bitcoin after a fresh breakout
-But instead, look for a good risk to reward trade setups
-Warning don't use high leverage because the volatility is back
MIDDLE TERM BTC IDEADear gamblers,
This is my view for BTC in middle term, kind of extreme i know, but I believe we are due for huge correction that will lead us to 2k levels. If you look the picture you will see that, if my idea is right, we should be still in a bear extended scenario B.
Please share your thoughts, I know that almost nobody will agree this idea but fundamentally and technically makes no sense to go to higher prices levels just now. Miners have still to capitulate to adjust to new difficulty and less bounties, the whole world is undergoing to what I believe will be a HUGE crysis/depression (the stock valuations aren't right everybody knows that, traders are just playing the ball but deep inside nobody believes in bull market now and BTC will be no different, IMO) + 0 mass adoption at the time of writing, and the most important, I usually countertrade people's opinion that thinks halvening will play out as in the past, there's no evidence and no reason for BTC to go to 1MM after halving, I repeat, NO REASON.
Strategy:
Personally I shorted around 9k levels, and I am going to keep it and adding up until this idea proves invalid or the price reaches target zone. My first target is 3-4k levels, where in case we reach there, i would take some profit and wait if it dumps more.
For this strategy to be invalidated BTC should close above 10.600 which i think is the turning point from bearish to bullish scenario --> STOP 10.600
Always remember that BTC's valuations have never been found and they could be as high as 1MM USD or as low as 1USD, whoever that claims to know the price of this asset is no trader for me. This is just a game of probabilities so play it well.
Have a nice one for me people and happy gambling,
Kind regards,
BeniGo.
**I'm not your financial advisor neither I intend to be, please do your own research before risking your money***
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
BTC/USDT (Bearish 1hr Pattern)BTC/USDT
-since the drop from 9600s area
-the price is unable to break above the 50ma on 1hr chart
-it acted as a dynamic resistance zone
-Bitcoin is testing the flat area of support again
-which is a bearish sign because it gets weaker over time
-it is also painting a bearish descending triangle
-if we see a close below key support
-there is a high chance we will see 8.9k-8.6k support area
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
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
BTC CME/USD (Trendline Support still Valid?)BTC CME Futures
-the daily candle is about to close in a few minutes
-it is looking a strong bullish candle
-it still respecting the upward trendline for the 3rd time
-if the previous drop was just a bear trap
-we may likely to see another retest of flat resistance at 10ks
-we also just had a golden cross last week
-the bulls must not break this trendline for the coming days
BTC/USD (Complex Ascending Triangle?)BTC/USD
-still respecting the immediate support at 9.3ks
-the upward trendline is still considered valid
-BTC is currently painting a complex Ascending Triangle
-the market structure remains bullish
-the trading pattern is unconfirmed until broken
-the price is approaching the apex of the triangle
-we will soon see a clear breakout
-use stop loss at all trades or move SL at BE if in profits
-trade wisely and don't go over-leverage
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
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
BTC/USD (Retest 10k?)BTC/USD
-broke bullish outside the trendline resistance
-previous update is to buy the breakout
-that's over 4% without leverage
-we have a flat area of resistance
-if we continue to go higher, 10k is critical barrier
-be cautions and move SL into BE as soon as possible
-I expect BTC to move sideways in the coming days again
-and seeing a potential Alt-coins to continue moving up
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
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
BTC/USD (Minor Drop to Fill the CME Gap?)BTC/USD
-quick market update
-the price dropped to fill the CME gap
-but still trading inside this channel
-there are still tons of support below us
-entering Short is at high risk
-we need to confirm reversal once we see a trend break
-if BTC will hold current levels
-we might see another few days of consolidation
-before large move to happen
-please wait for the right signal
