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BTC/USD (Bullish pattern; target 8k?)BTC/USD Bitcoin proves today that the bulls are still interested in the market despite the whole sector's uncertainty. BTC is technically forming a bullish ascending pattern which has the probability of breaking to the upside if the flat resistance is broken with convincing volume. Trading with patterns without confirmation breakout is a high risk especially during this time. The safest way to enter this trade is to wait for the breakout confirmation Long position or if you want to be an aggressive Bull. Entering a long position with a tight stop-loss below the previous higher low at 6200 dollars.
BITSTAMP:BTCUSDLong
by PolarHusk
3
BTC/USD (Must break bullish or drop -15% below)BTC/USD Bitcoin is still floating inside this consolidation phase where the price is just trading sideways with a flat line of resistance at 6800 areas. The priority remains to the upside for as long the trend-line support and the 50MA on the 4H time-frame holds. No major red flags on Bitcoin but only showing some minor weakness because the longer BTC stays on this level the weaker it gets as the Bulls unable to break resistance the soonest possible to confirm strong upside momentum.
BITSTAMP:BTCUSDLong
by PolarHusk
5
BTC/USD (Bullish pattern; awaiting confirmation)BTC/USD Bitcoin is facing minor rejection at 6600 but the price action is trading above 100MA inside the ascending pattern. If BTC can hold this level for the next 24-48 hours, we could see a potential breakout to the upside as the bears failed to drop the price during its consolidation. A trading strategy here is to wait for the break of resistance and open a long position. The target is up to 8k price and stop-loss below 100MA.
BITSTAMP:BTCUSDLong
by PolarHusk
2
BTC/USD TA Update (healthy pullback?)BTC/USD BTC finally shift the 4H trend to the upside after making its 1st Higher High and currently topped out at 7100 areas. The bulls have a lot of room to establish its next potential Higher Low between 6000-5600 regions. We may expect BTC to hover within this area for the next 2-3 days before another attempt to push higher. The bullish scenario will remain intact as long as the key trend-line support will hold. No red flag today, bulls are patiently waiting for the next long opportunity.
BITSTAMP:BTCUSDLong
by PolarHusk
1
BTC/USD TA Update (bullish short-term pattern?)BTC/USD Bitcoin is holding strong the price range between 5200-5400 zone and looks to be forming a bullish ascending triangle as the price keeps making a series of higher lows. BTC just had a bullish MA cross of 50 & 100 moving averages on the 1H time-frame. This signal short-term shift in momentum to the upside but still not confirm until immediate resistance at 5500 areas is broken. If Bitcoin can confirm a bullish breakout in the coming few days. The upside target is between 0.5-0.618 fib resistance or 6k-6.5k zone. When most indicators show extreme fear and oversold conditions we likely see a relief temporary bounce. Bearish side, if BTC closes below 5k this will invalidate upside scenario.
BITSTAMP:BTCUSDLong
by PolarHusk
4
BTC/USD TA Update (bulls getting ready? 6k target?)BTC/USD BTC manages to break the trendline resistance at the 5k and keeping the price above it for more than 12hrs now. This is a good chance for the bulls to change the shorter timeframe rally going up. This momentum will remain intact as long as the price does not break below 4.8k because if that level is gone this will give the bears a meaningful entry to short the market again. BTC bulls need to keep this action alive for the next 24-48hrs and break bullish. Target to the upside is up to 6k. 6k levels are showing itself as a strong barrier for BTC since we have been rejected there twice for the last 4-5 days of trading.
BITSTAMP:BTCUSDLong
by PolarHusk
1
BTC/USD TA Update (Last Bullish Scenario?)BTC/USD After a massive drop we experience this week, BTC still manages to bounce right at the last trend-line of support which is located at around 4k. $4000 was also the previous resistance area of the ascending triangle that gives us a parabolic pump last 2019. If Bitcoin can recover a V-shape in the coming weeks or months. This potential inverse H&S has the chance to play out as long as this green line of support will remain intact. But this is still too early to buy Bitcoin. We must be cautious and wait for daily confirmation before entering the market.
BITSTAMP:BTCUSDLong
by PolarHusk
1
#BTC Gap filled, Support zone respected#BTC respected our support zone 8370-8460 exactly and made a move upwards.. We are still holding our position of 8800 zone.. The reason why I didn't add some BTC at the support level (Our support and resistance levels have worked accurately most of times) is - Fundamentals like Corona virus.. Else I would have bought it there are per my technicals... So we can still average if it reaches there and fundamentally looks good.. Currently no changes in our position, it's in small profit but we will hold it.. Resistances are: 8910-9000 weak (needs a proper breakout from here for reversal) 9250-9360 9700-9810 10440-10530 Currently in resistance zone.. It can break it.. If not, then also hold the current position till next update of close, take profit or average..
CME:BTC1!Long
by Crypto2AF
2
BTC/USD TA Update (Bullish Pattern?)BTC/USD How is Bitcoin is doing on the longer time-frame? Well, Technically, Bulls are still in the fighting stance as it is currently holding/testing the 0.5 Fib support levels at 8.5k. Is it still possible to retest the swing high at 10.5k? or even the 12k area? The answer is Yes, If and only this potential right shoulder will playout. What are the chances BTC to break bullish with this inverse H&S pattern? It will be a 60% chance provided this support areas will hold for the next 1-2 weeks and does not close below 8k or 0.618 Fib because the strength of the pattern to succeed will decrease as the price is no longer in the bullish territory zone for continuation to the upside.
BITSTAMP:BTCUSDLong
by PolarHusk