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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
BTCUSD - Uncertain situationWell, I am really not sure what is going to happen the next days. The BTC indicators I am currently seeing are: - Fear and Greed Indicator is very low and 5-10 levels normally is a good buying opportunity - Bitcoin on Google Trends is rising very fast, which could potentially mean a rising interest - If we keep that level, this could be the biggest triangle and continuation I have ever seen. For that reason, I will keep my leveraged long open, just in case we skyrocket in seconds. - Having lost important EMAs, we could as well be in a bigger bearish channel or something similar, that's why I'm saying that I really don't know which side to take position on. - The 1h chart is contracting, which let's me believe, that there is going to be some action very very soon. Overall market signals that I see: - Not just stock markets have lost value, so did Gold. Which leads me to think that an economic crisis is on it's way. These would not end well for Bitcoin either. - The inverted yield curve (cross from 2 year and 10 year treasury bonds) triggered already, which historically has always been the start of a recession. - I expect certain markets such as DJI to recover a bit (maybe to 23500) and this could push us back up for a while. On the other hand, I don't believe in it too much, because COVID-19 is not yet over and this negates the pull-back IMO. - The altcoin market has the potential to drop to 14B, which would be another 65% drop or around 40B of lost money. If COVID-19 is not rapidly gone from mother earth or at least made treatable, markets are going to bleed more and more till the day we manage it. It is probably better to stay on the sideline with bigger positions.
BITMEX:BTCUSD.P
by Thierry88
BTC/USD (4-hr TF Analysis)BTC/USD Bitcoin on a shorter time-frame analysis, it is technically bullish as the price manages to break previous High at 8470 and that candle closes with an engulfing bullish momentum to the upside. A new Higher Low is also set at 8000 regions, that will be our key areas for upward continuation. Take note also the upward trend-line of support which has been respected twice already and has the potential to be retested again for the 3rd time in the future. We know Bitcoin loves to pump over 10 - 20% on a signal candle, I won't be surprised if BTC breaks this key resistance area if it wants too. But let's look at the bearish side of BTC, We must not forget about the Relative Strength Index below, it has painted a Lower High instead of a Higher High like what Bitcoin has done. We must exercise cautious trading Long positions, have our stop-loss at the key support area. Liquidation Hunters are always watching our moves.
BITSTAMP:BTCUSDLong
by PolarHusk
4
I'm neutral on where bitcoin is heading for nowWe experienced a massive jump a couple days a ago with almost 40% gains in 24 hours. But... if you look to the left on the weekly it is below the red moving average, but is printing a green doji . The green doji is a setup for a potential buy signal. If we look to the right on the 2 week chart both indicators are overlayed with indecisive movement. We had 60 billion $ come in but now we have lost nearly half of that capital. So for now I'm neutral on which way we go. November 3rd on the next weekly close I think will give us more info and opportunity for entries, not only on BTC but also altcoins.
BITSTAMP:BTCUSD
by UnknownUnicorn2319099
1
Bitcoin consolidate in bullish triangle, breakout in end of Sep!Hello, Dear fiends Bitcoin is consolidate in a triangle, yesterday, the higher low is setup near MA 100 day, still keep inside this triangle. From the formation, upward breakout is expected, strategy is buy near the bottom of this triangle. I think the 9000 level is very solid support in near future! And let's have a look at a reference also. there is a triangle setup after the initial bull run from Nov. 15 to Apr.16. very similar pattern? :) Thanks!
BITSTAMP:BTCUSDLong
by HuPan
1
BTCUSD 4H LONG On the 4 hour chart, Bitcoin looks to have completed an Elliot Wave Cycle. After completion of a corrective ABC pattern at a significant .618 retracement level of the initial impulse wave (1-2-3-4-5), the price broke through a long term S/R trend line. (see red trend line) With the RSI > 50, and significant resistance ahead (see blue rectangle zone of S/R), a 1st test rejection could make way for a possible inverse head and shoulders formation, making a bullish case for Bitcoin moving forward.
COINBASE:BTCUSDLong
by UnknownUnicorn924366
4