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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
Is Bitcoin Going Back To The Moon?Looking at the past 6 months of Bitcoin, we see a huge gain in the past month. Alot of people assumed its growing simply because of the growth in popularity and more and more people are buying into it. But over the past week we've seen the prices drop and many experts believe the price will continue to drop for the remainder of the year. Those same people feel it will rebound in the first part of January possibly even growing as high as $20,000 again. If you're thinking about getting into Bitcoin right now, you might want to wait and see how the last week of the year plays out as we may see it go as low as $8000. If that happens, its the perfect opportunity to buy in. If you have already bought in at around $14,000 - $16,000 there is no need to panic. All signs point to Bitcoin recovering.
BITSTAMP:BTCUSDLong
by Migraine
1
XCPBTC Explosive CyclesHere is what I see in XCP. The past 2 years it has had 5 explosive cycles. The cycles "pop", go up between 180% and 1400%, and do a full or near full retracement to 1 fib level, sometimes a little between .786 and 1. The only cycle that saw a retracement deeper than 1 was the first one, which went between 1 and 1.618. The cycles from start to finish last between 186 days and 270 days. The average length from the previous cycle hitting the "floor" or completing fib. retracement to 1 to the fib completion or spike is around 90 days. We've been in the 1 fib level since the beginning of oct, so we can safely say we've spent 37 days and are almost half way through the average length, meaning based off previous action, we could expect to see bullish movement half-way through or at day 45, within the next 2 weeks. I would watch out for this, even if you are not buying now, as there is a great opportunity. I'd set stop losses 10-15% under fib 1 level, and let the trade ride. Risk:reward is very favorable as it can't really go much more down, but is begging to explode based on past 2-3 years of price action.
XLong
by JCBCrypto
7
ETH / USD Consolidating and Big Move ComingSeems ETH has been consolidating between 200 and 225 range for quit some time now. Also could be potential flagpole and pennant formed. We should see a serious price movement in the next few days. Up or down is anyone guess. Ive been locked in and im going longer and I still remain bullish as eth has broke out of the downward bearish trend we have been in for the past month. I drew two dotted lines the light blue being the major support line of about 205 and the light pink line being the resistance range of id say 225-230. If there is a clear break out above this we can go to the 275/280 range which id say is the next level of resistance. If we break out down we may retest previous supports at 200 and 180-185 area. Happy and safe trading! KST wave also shows that ETH has been consolidating and a huge move is likely in the coming days.
E
by KFedTrading
3
Bitcoin summer fundamental and technical analysisHello everyone! On the fundamentals side : I believe the altcoin/token bubble is over. Most of the altcoin charts I see point down and the same goes for Bitcoin. I am of the opinion that this bubble popping will bring Bitcoin down with it (but to a much lesser extend). Also, as you might have heard, Bitcoin has had a problem upgrading due to some miners blocking the upgrade. However, this will probably come to an end in August either in a 'peaceful' or a 'violent' way. The situation will be getting clearer and clearer by late July and early August, but for me the outcome is pretty much very certain : Segwit (the so much anticipated upgrade), will kick in smoothly in August. That alone could pump the price by 2k in less than a week. The issue is when will we know for sure? Unfortunately only a few players will know precisely when, so the only thing we can do is trade based on price behaviour or buy and hold below 2000$ (or if you have the stomach, buy now.) On the techical side : I think the bear trend has started for good. My momentum indicators are pointing down. Price failed to make new highs and fell after hitting hard resistance. If the 2200-2300 levels don't hold, we are in serious trouble. These are good short term levels to go long, but not ideal for longer timeframes. Below I created some tradingview images using various charts and exchanges, as I think that people shouldn't trade based only on one exchanges. My original chart is an average of the top 6 Bitcoin USD exchanges : Bitstamp, Bitfinex, Gemini, BTC-e, Kraken (LOL), Coinbase (LOL x2) BTCChina - This one shows that the support has broken and if the red line is broken, we are going down... Bitstamp 4H - Momentum + Oscillators - All bearish Bitstamp 1D - Momentum + Oscillators - All bearish Bitfinex log chart BTC-e log chart And finally this is a kinda complex chart I created, based on various non USD exchanges. You can see the pairs and the ratios I've used for each pair. The ratios are kinda arbitrary, but I've considered various factors before choosing them - i.e volumes, fees, withdrawal issues and geolocation. Somehow it seems to be working very very well, and by this I mean that former resistance becomes support and former support becomes resistance.
COINBASE:BTCUSDShort
by BitcoinMacro
10