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Bounce

GRINBTC, Is the market ready to move higher?Hi! We have seen GRINBTC in a correctional stage for a few weeks, forming a 5-3-5 Zigzag correction, being now in the last wave of the correctional phase. Yesterday GRINBTC has bounced off the monthly resistance line just to give it away again quickly. This is an indication that the market wants to go lower and we might see a drop all the way down to form a double bottom on the monthly chart. It is advisable to wait for a confirmation of the breakout from the trend-line by using different time-frames and to play the market before the instrument itself. If you would like to learn more about technical analyses please visit George Beaulieu on Youtube and leave a like. Lots of patience to you all and thanks for reading. -heish
G
by MeruEU
Is the eventual dead cat bounce finally coming soon?Ever since bitcoin topped it's been in this big broadening falling wedge that has had one fake troll-breakout after the other.. this pattern is now huge and the bounce that it calls for is just getting bigger and bigger with it.. I don't think it's safe to long at this point at all, but I am starting to suspect the real breakout might actually be close this time, seeing how we touched that very important 9.8k level yesterday.. I will not open a margin long at this point but i did take a chance and bought just a little bit more bitcoin at about 10.1k as a long term investment. What do you think is going to happen? Share your thoughts in the comments!
BITSTAMP:BTCUSD
by jambalulu
1
BTC is ready to bounce. Wait for confirmation during next 3-5HExpect a big push in the next 3-5 hours. We have remarkably similar trading patterns emerging vs the early July action. Bottom of the early July correction lasted only 18 hours, will we maintain the bottom as long as last time or BTC will bounce before 18H mark? 5 hours to go and we will see. Personally, I'd bet on a pullback in the next 3-4 hours. BTC is inpatient asset and does not give a F* if people want to buy it for 8K :D :D :D
BITFINEX:BTCUSDLong
by akublashvili
1
BTC Update! Bears in control. Bulls desperately needing a bounceSorry for lack of updates over the weekend. Last chart I was watching as our 12 EMA failed, 26 EMA held support and offered a short term bounce. My concern was a rejection at the 12 EMA off the bounce and then seeing the 26 EMA failing. Also of concern was seeing the 12 and 26 EMAs move towards crossing. So how it actually played out was the bulls saw a decent bounce off 26 EMA and temporarily had cleared 12 EMA which did have me starting to consider exiting a portion but I opted to just move my SL to approximately where 26 EMA would be lining up if we moved back down towards it. I did get stopped out at about $11k average from my BTC position and am currently seeking to reload. 4 hour is oversold on RSI and and daily came within 3% of our next support level which is at $9651. But thus far bulls haven't shown much of a turn around from todays low of $9901. EMAs are getting closer and closer as we are stuck in this bearish move and once again, we have not seen those cross since February! We have a few resistances ahead now and those are quite a bit above us so I am expecting any bounce to likely just give us another lower high compared to our resistance (red lines). In order for the bulls to reverse trend, likely would need the bounce for a lower high, then a higher low and then higher high. Bears currently very comfortable here and current supports (green lines) of $9651 and then $8919 ($9k psychological) and with what I've been saying for weeks now, our strongest support down at $7400-7700. I will not be surprised if we do re-test this area for support but ideally want to see bulls get the trend reversing before then. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
Bigger dead cat bounce incoming?We seem to be confirming another downtrending resistance line that suggests that we are yet again in an even bigger falling broadening wedge , but the pattern that we are currently in within that wedge is a bearish rising broadening wedge , so if i had to guess I would assume this big line of resistance will be broken pretty soon, the price will move up within that secondary smaller wedge , and then we will continue the correction to the downside. What do you think? Will I get it right? Share your thoughts in the comments below.
BITSTAMP:BTCUSD
by jambalulu
1
#Bitcoin_Update : Where To Go Next? [Early Speculation]#Bitcoin_Update Bitcoin is showing a good bouncing move from its correctional low at 9651 USD. To be sure about the end of the correction we got to further see and study on the coming candle stick formations and the closing price of the daily chart. If it can hold above the 10664 USD area it would be considered as a good bull run in favor of the bulls but it needs more energy to confirm that the correction is ended at here. Other wise the other scenario that could possibly happen is that it will see a retest for the lows upto the 9.3K USD as we forecast it earlier or at least up to the lows of the current correctional low at around 9.6K USD. We will give more updates on the trading scenarios once we get more pattern indications though. With Regards. TeamTWA. @TogetherWeAccumulate
COINBASE:BTCUSDLong
by cryptotalk_et
Time to risk a long on Litecoin?As my followers know, I've been following alts pretty closely. Many alts have been following the same pattern to the bitcoin pair, with one downward sloping trendline connecting the wicks of the lows from the last week or so. This tells me that a lot of alts are finding support, and possibly even preparing for the fabled ALT SEASON. However, Litecoin is quite interesting to me, because the formation is a little different and just has one big wick down to touch the line, rather than a longer consolidation (see ETH chart, or my LINK analysis). Zooming out, it seems like the beginning of a big 12345 structure, and since we bounced quite heavily off this trendline, I would risk a little of my capital to long the forth wave. I chose a conservative fib level as a target, but could bounce a little higher to the 0.618. We also have a nice MACD cross on the 1 hour, so that's a pretty strong signal to buy. (click and drag on price bar to scroll on chart) Please don't forget to leave a like!
Long
by Etch1234
SPY SHORT : Don't be fouled!Long for today, short for the week. Don't be fouled by the news. It is a bounce of the dead cat We say: Buy the news, sell the rumours, but the invert is as valid. Buy the rumours, sell the news. Today is a good opportunity to cut a bit... 1/4, 1/2... You know how you'll be comfortable. Just a reminder: Even if a real deal is done and the interest is reduced, it's already in the rally. This market needs a pullback. That is why, I am long for today, short as soon as it weak. Be prudent! That's all. Maybe reducing exposure. An alternative could be GOLD, BOUND, Bank stocks, Bio stocks are all good alternative. I wish you all the best! Have a good trading time! Waz
AMEX:SPYShort
by Wazaby
BTCUSD - 5 Waves then bounce?Anybody reading me knows I have been following this multi-year baby blue trend-line for quite some time. After the price broke above it last time it came back down to kiss it and then took off to all time highs. ($20K) My expectation is for something similar. As you can see in this chart there may be a 5 wave move down to the line on the 4 hour chart. If this holds, the RSI, MACD, Stochs, etc. should have pulled out of oversold enough to fuel the next bull run North. This is my current line of thinking but anything could happen. When I say hold I don't mean a spike low through the line only to quickly recover. If it is to fail we need see a couple daily closes below the trend. If that happens I will reevaluate to see if I have the line drawn as accurately as possible or assess that maybe something else is going on. Good luck this week!
COINBASE:BTCUSDLong
by BitcoinBearSlayer