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BTC Broken Short Term Downtrend, Onward to $14k!On the 4 hour charts, BTC has finally broken the shorter term downtrend! If it doesn't fall through the $11k support, we will be headed towards $14k and push at the longer term downtrend. On the TD Sequential count, we should have 2 more bars on the 4 hour chart to move up wards, then it should fall towards the $11k resistance. As you guys may or may not know the CME futures expired yesterday and will be settled on Jan 31. A lot of bears shorted BTC before the closing bell due to the XEMBTC hack and stolen funds of over $450 million USD on the Japanese exchange Coincheck. As the trend continues upwards these bears will be in for a lot of trouble, but it does make me wonder if there will be manipulation for downward pressure before the settlement on Jan 31. Is this market still capable of manipulating Bitcoin to that extent? I'm not sure, I'm just rambling. Key Takeaways: New support $11k Resistance at $14k (longer term downtrend line) Next ~8 hours should still push upwards CME futures settlement on Jan 31. Lots of bears shorted, will market turn downwards closer to the Jan 31? Or will all these bears be doomed?
BITFINEX:BTCUSDLong
by CryptoGearBox
THE CASE FOR $34000 BITCOINYes I know, the thumbnail chart is hard to read because so many different levels are shown, so here is a split up view of what the chart shows. Fibonacci Retracement Levels showing that every time we have dipped over the past year we have had support at .5 fib level or .618 fib level, and reversed after hitting one of these levels. Fibonacci Levels showing that every time we have reversed off of the .5 or .618 fib level over the past year, we have hit the 2.618 Fibonacci level or surpassed it, as we did when going to all-time highs, eventually hitting the 4.236 level. The Fibonacci Sequence is 1-1-2-3-5-8-13-21-34-55-89-144 As shown on this chart, we have reversed near all of these levels, and ultimately broke through 1k twice, 2k, 3k, 5k, 8k, and 13k. Although we did not break 21k on bitfinex/coinbase/bitstamp, we did hit it on quarterlies contracts and reversed. These numbers have been a solid guide over the past year, showing where we may reverse from a pump or target. In the case of 21k, many people took profit before 21k because they knew that it was such a popular take profit area. As shown in my charts, Bitcoin has reversed/bottomed at the .5 and .618 fib levels, if it does hit the 2.618 level, we will be hitting $34,000 per coin. Which is also the next Fibonacci number in the sequence. If we do in fact hit the 32-36k/34k area, and we dip, the .618 fib level will be 20k, a major psychological area, just like 10k was. 34k represents an area, so it is possible that we can reverse before it, or break through it. This study is my case as to why we could go to 34k, this is not intended to freak people out or fomo into bitcoin. Please respect my charting as you would wish others to respect yours. Many people believe bitcoin will go down, and will not agree with this chart, please keep hateful comments to yourself. If you have a chart that you would like to share with me, please do so. I am not a biased trader, I take into account all perspectives. If you enjoy my chart and study, please thumb it up, leave a comment below and or share it with a fellow trader. Thank you for your time. Good luck
COINBASE:BTCUSDLong
by ampatrick4
8
GEM FOR 2018 -BIG WAVE INCOMING-LONGFirst big wave that took the price to 110k sats already corrected after 6 months of downtrend, time for a second big wave of this little gem that should take the price to 300-500k sats. You may already know this project after that much shilling on the internet, first one to combine a decentraliced web tech, IPFS in this case, with the blockchain technology, that allows descentraliced hosting and estorage, with a public beta of their dapp PHANTOM been releasing in a week. THE 3 MAIN OBJETIVES DRAWN ON THE CHART Good luck!
SLong
by BIT.1
6
BTCUSD Descending Triangle Breakout + PennantThis broke on the upside. I would take caution as the Descending Triangle is generally a bearish pattern. I guess the triple bottom at 3, 4 and 6, or A and C of ABC elliot wave correction attracted some buyers and buy volume came in. Descending triangle generally means demand for an asset is weakening as price fails to establish higher highs. Price crossed 50, 100, and 200 Moving Averages. Will wait for more bullish movement or break of pennant to open position, preferably close above 16k or B/5
BITSTAMP:BTCUSDLong
by JCBCrypto
BTC <10K or >30K, Key Levels and TrendsTake a look at the chart. I see 2 possible scenarios playing out. 1. ABC Correction. we can be moving downwards in wave C and be heading to next support around 9K. This would be good as we would close our position and get ready to re-enter as we catch the bottom and see bearish exhaustion and ride Elliot wave 12345 upwards, as cycle starts. This should go to 25K-40K, yes, range is wide, but I will not give specific targets if I do not know them. 2. Double bottomish bounce. If we look beforehand, we can see all correctional cycles do not bounce one, we could possibly have bounced on 2nd one and be heading towards downtrend line. If bull is rejected on downtrend line, we will see further downward movement. If bull breaks through downtrend line to upside, we will buy and open long trades, as we should see a rally.
BITSTAMP:BTCUSDLong
by JCBCrypto
4
BTC oh BTC, which h&s do you see?Seems like everyone is pretty bearish in the short term for BTC, but I just spotted a potential inverted H&S. Let me know what you think is going to happen! Are we entering another bear market? If we compare the current daily chart of BTC to past booms and busts, it does seem like we could be entering a bear market. At this point, cryptocurrencies have become so popular, I can't imagine the bear market manifesting exactly like it has in the past. Anyone have thoughts on this? Cheers and happy holidays!
BITSTAMP:BTCUSD
by unaveragejoe
1
BTC Diamonds are Back!Once again have a near to perfect setup for an ABCD pattern! Therefore, IF 12,900 is truly the bottom of this leg, we should see a leg up to 15,000-15,500 none the less. IF BTC fails to break past 15,500 there is a very good chance BTC could turn into a 3 drive pattern. This could take us down into the 12,000 range before finding possible support. One thing to consider is that BTC Futures is just around the corner. Making this market very unpredictable especially at these record highs. We have been very blessed this last month, but every once in a while we come back in touch with reality. Winter is coming, the only question is when. I wish you all luck & please trade carefully! DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
by oh92
1
Greatest show on earth!BTC corrections are my absolute favorite time. The euphoria and panic of BTC trading makes it truly one of the greatest shows on earth! We are experiencing a typical 3-3-5 - aka "Flat" correction. ABC down (WAVE A), ABC up (WAVE B), and ABCDE down (WAVE C) Wave C is made of 5 smaller waves (small blue numbers), so count carefully and stagger entries after wave 4 is complete... After this very healthy correction we shall continue past 20k :) Good luck and healthy profits to you!
COINBASE:BTCUSDLong
by the_sunship
1