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BTC/USD TA Update (Retest Swing High?)BTC/USD Bitcoin found support again for the 3rd time at 9200s area, BTC started turning to the upside and has the potential to retest the swing top at 9600. If BTC can't break the swing High, there is likely a pullback at immediate support areas to push another wave up. Bearish side, BTC will come down and retest flat support area for the 4th time which will add a more bearish factor that this line of defense against the bears will fail the next try.
BITSTAMP:BTCUSDLong
by PolarHusk
Bitcoin CME Futures TA Update (Gap Filled)Bitcoin CME Futures Bitcoin CME filled the price gap between 8763 - 8856 if this is a bad sign for the bulls, we may see the price reach our next key support area at 8300 - 8100 regions only after if BTC breaks 8500 support. Bitcoin is painting a bearish candle after filling up the gap and the price is trading below 26 EMA. The RSI is in the neutral zone and if the level reaches oversold conditions again, we might expect some reaction rallies from the bulls buying the dip at key support areas.
CME:BTC1!Short
by PolarHusk
Bitcoin CME Futures TA Update (Watch for Price Gap)Bitcoin CME Futures Bitcoin is quite looking bearish after breaking the upward trend-line of support at 8100 levels. We know that there is not enough support build during its uptrend from 7700 regions to 8500. And for that, the price could easily drop back to 0.5 - 0.618 levels to immediately filling the gap from the old resistance to potentially change it to new support if Bitcoin bounces from that level and hold it for a couple of days. Take note also of the multiple selling volume after it crashes below trend-line support. This is only telling us the downward pressure is strong, and if you are in a Long position. Be cautious about these warning signals.
CME:BTC1!Short
by PolarHusk
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Bitcoin CME Futures TA Update (Price Gap at Key Support?)Bitcoin CME Futures Bitcoin is trading within the key resistance area and the RSI is already extended on the overbought condition levels. There is a price gap between 7723 - 7675 which our key area of support is also located. This will give us a hint that Bitcoin could bounce in these regions before it continues the uptrend. This price gap doesn't mean it has to be filled right away, I'm not trading Short position as the previous candle is heavily bullish followed with a big size of buying volume. I will trade this Long once I have the extra confirmation to enter.
CME:BTC1!Long
by PolarHusk
BTC CME Futures Gap | Lower Levels First ?Hello Traders, Today’s update will be on BTC CME Futures chart, Bitcoin broke out of its rising wedge over the weekend creating a gap. Gaps tend to get filled sooner than later, but will BTC hit lower levels first? Points to consider, - Trend testing major support - Resistance at .786 Fibonacci - Stochastics in lower regions - RSI approaching support - EMA’s crossed bearish - Volume below average Bitcoin is sitting on a key support which has multiple technical confluences, the .786 Fibonacci level and the inverse head and shoulders neckline. This level needs to hold as it is the last hope for the overall bullish bias. Strong resistance is found at the .786 Fibonacci level that was not broken. This resistance is just above the futures gap that will get filled at some point, leading to a possible retest of the staunched resistance. The stochastics is in lower regions at current given time, lots of stored momentum to the upside but can stay in lower regions for an extended period of time. RSI is approaching its support which must hold, a break will confirm BTC testing lower levels of support. The EMA’s have crossed bearish but is yet to meet price, this will pose resistance to Bitcoin if it fails to hold support. Volume is well below average, very dry, which needs to pick up. An influx of volume will determine the direction of Bitcoins next move. Overall, in my opinion, Bulls are looking weak here as price comes to test key support. Volume has been low ever since, the buy pressure is just not there. BTC CME is more probable to test lower levels of support before filling the open gap. What are your thoughts? Please leave a like and comment, And remember “If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
CME:BTC1!Short
by AzizKhanZamani
Bitcoin on the Rise or Fall ? how to prepare for any scenario ?The best bitcoin trading plan is to be always a head of each scenario and plan accordingly for best reward to risk ratio trade entry . we are looking forward for the daily candle to close , if it shape doji or shooting star most properly we will follow my last post and its related out comes if not then we need to consider any of these possible scenario and prepare accordingly . how ever deep inside i feel short term bearish but something keeps telling me be prepare for unexpected bullish scenario which may many going to be left behind !! Thats why i divided my entry plan base on 30 % bullish and 70 % bearish . This is not financial advise please do your own research Thank you and please support me by your likes and comments and sharing my post Regards
COINBASE:BTCUSD
by Mailin101