BTCEUR
BTCEUR - short term patternthe short term support has been tried and have hold so far. we could see a continuation of the upward trend. Volume will be of prime importance in the next days.
BTC HEADING DOWN - DONT BE STUCK HOLDING As bullish as I am - I still call it how I see it. The purpose of technical analysis is to maximise profits and minimise losses. Bitcoin is showing some very bearish signals and extreme caution needs to be taken otherwise you could see yourself holding massive bags on the way down.
Bearish signals
- Death cross incoming
- Macd converging downward
- Volume decreasing
What to expect
- resets of the trends support line, if fails we will see a drop-down to the 200 day MA which is around $24,300 range.
As always let me know what you think
''Buy Big Sell BIGGER'' - MegaWhale
Bitcoin UpdateThe 45,000 range is a good support for Bitcoin. If not supported, the market will continue to decline.
BTC/EUR chart shaping a downward triangleBTC/EUR chart currently seems bearish; it looks like a downward triangle with 2 highs and 2 lows. Nevertheless, we might need to wait for the third pair of high/low as confirmation. My guess is that BTC/EUR will offer us better prices to buy soon. The support is strong at €37000 ($44850). Elon's purchase pushed the BTC price up to around this support level.
Despite this looking like a downward triangle, I must point out that the volume at bottom is diminishing, so that might signal a trend reversal to the upside.
I am still a bull and believe that we will still witness the expansion of BTC after this correction. Thus, I haven't flagged this idea as "Long" or "Short".
Bitcoin UpdateBitcoin broke its previous downtrend line. It seems to be on an uptrend, but there is a green resistance against it, which allows the re-downtrend to move up to $ 47,000.
If Bitcoin breaks the upward resistance, we can expect it to climb to the $ 55,000 range.
Long on BTCDuring the last few days, both Cryptocurrency prices and US equity prices has been shaky and have dropped from their ATH (All-time-high). Reason being that there was uncertainty in leading up to Federal Reserve Chair Jerome Powell speech.
Many investors were speculating that interest rate might increase together with treasury yields because inflation of 2% is being met by the economy.
So how does interest rate affects prices of cryptocurrencies and US stocks?
If interest rates increases, US market will suffer because the cost of borrowing for big companies increases. On top of that, the returns on risk free investment, ie deposits with the banks would increases, therefore there will be an outflow of investments from cryptocurrencies and equities into these safer fixed income assets with the government and banks since interest rate increases and returns are slightly more attractive.
However, Powell announced yesterday (12 hours ago) that economy still needs Fed support and pushes back on inflation worries. Federal Reserve Chair Jerome Powell on Tuesday pushed back on suggestions that U.S. central bank support for the economy risked inflating a dangerous asset bubble, insisting the support was still needed and that investors were responding mostly to expectations for a successful recovery.
Therefore, i believe this year will still rally for both cryptocurrency and US market and we will see a rebound from this dip soon.
BTC - Back to 58kWOW! What a crazy 24hours, the entire market saw a massive pullback as suggested in my previous post! Firstly a massive congratulations to everyone who followed by BTC short post - I hope you all secured profits and were able to grab some discounted coins!
Bitcoin has found strong support and looks like the trend is reversing, we could see a run back $58k before breaking upward to new highs! - This is very likely to happen!
''Buy Big Sell BIGGER'' - MegaWhale
BTC - 63K OR 47K!Bitcoin has been in an upward channel since is in an upward channel since breaking the $47-48k resistance zone, since then we have seen a 20% increase to $58k MASSIVE!
It seems BTC to be showing bearish divergence in the RSI as well as a noticeable drop in volume. Bearish MACD cross on 4hr - death cross could potentially follow.
With a potential drop in BTC many altcoins could see a similar drop of around 15-25%, many of which are already showing signs of this incoming drop.
Trade safe - never be afraid to take profits
''Buy Big Sell BIGGER'' - MegaWhale
IS THIS THE END? (BITCOIN)I am waiting for the double top I talked about previously, could this be it? I don't know right now. I have no intentions of buying or selling right now.
IF price forms a double top fakeout here and drops then there will be an inverse head and shoulders pattern at 15k.
IF price rallies from here then the short will not happen until 80-100k, in which case the next dip buy will be around 50k.
So what action do i take? I wait. If we break higher it is clear it is the final leg of the bull run. If we break lower it is clear we can dip buy at 15k.
Long term either way we win.
High of the Quarter?📌 ridethepig | BTC High of the Quarter?
A short iteration update here after the wild moves cleared the board and left a lot of confusion behind. The beauty of abstracting to volatility trading, or elasticity trading or trend following is that you take all of the noise in the inner waves out, and just trade time and probabilities .
Well done all those who are already short from above and managed to book some profits on the test of 46,000. For those looking to add back to positions or jump in then all we need to do is trade in our window and capture the overlap. A daily closing below our $55/54,000 pivot is contentious and shows buyers are exhausting . A pullback towards the 42,000 Tesla breakout looks in imminent , before we can ultimately gather enough energy for another slingshot.
Thanks as usual for keeping the feedback coming 👍 or 👎
FINAL BITCOIN BULL RUN!OK, so to be clear in order for us to be officially in the bear market we need to create a double top on the weekly. A double top where the second peak breaks and fakes out the high of the first peak. (I will update when that actually happens).
I appear to have been calling the short a little early. We are now about to begin the final bull move before a huge short.
As I said previously on my bitcoin idea, price retraced, now is an opportunity to load up for the final bull run.
ENTRY: 50-55k , SL: 47k, TARGET: 80-100k
On the chart I have circled what we expect to happen, this is the second leg of this move and it should be veyr similar to this price action in here.
ridethepig | Variation of Flow & Profit Taking📌 ridethepig | Variation of Flow & Profit Taking
When in the much disputed variation of covering partial longs, we can look for some shorts to play the pullback towards +/- 48,000 of an incomplete (iv) in a 5-wave sequence.
This point of view is based on a complete and understood notion in the concept of an underlying impulsive nature to the move. For this, we need to simply stick to the fib itself: the 261.8% has been our impulse target, so we need to track for signs of a turn which is the current situation at the top of our map. This is important and should be used as an area to do some profit taking/covering under any circumstances for those holding from way below.
The significance of resistance here in a situation where we are at approximately 60% bull market in the macro chart is a (3) wave temp high inside a (5) wave sequence. As well as creating energy for another slingshot later in the year, it is intimately linked to the manoeuvre handled by sharp sellers outguessing a temp high.
Thanks as usual for keeping the feedback coming 👍 or 👎
BITCOIN RETRACEMENT THIS WEEKENDPrice should start to retrace lower from here for the next few days.
ridethepig | The Capitulation📌 ridethepig | The Capitulation
Very little to update after a quiet European and NY play. Buyers are clearly in the superior position, as you all know, just a matter of time before we get the capitulation let now.
A very quick leg towards $57,000 is in play , we have the open ladder after clearing 161.8% extensions and our enemy is without a shield. This is getting embarrassing for sellers.
Depending on the decisiveness of the breakthrough in the swing, it can allow us to start moving our scope to six figures. Satoshi understood money over IP, he understood inelastic supply, he knew not to touch the wallet while outguessing the societal move towards a post trust world... a true genius. For those who haven't had the chance I would highly recommend digging into the old emails / forum posts.
Thanks as usual for keeping the feedback coming 👍 or 👎
BITCOIN SHORT TO $15,000 So first of all I am net long on bitcoin but short term I am short biased. I have never seen over-extension like this that actually continues for very long. I do believe that we will drop to 15k where we will form an inverse head and shoulders pattern on the weekly. After that has been created bitcoin will create the largest rally in it's history.
Bitcoin Rocket Ship Past 50k? Trendline on the 1HR is KEY!Hi Everyone,
Just some Thoughts on the 1hr and 4hr candles here for bitcoin, you will notice no break above $50,000 has shown a close. Interesting and well worth considering the trendline also!
Good Luck,
Tom
BTC's ascending triangle, more upsideBTC continues to build bullish patterns after bullish patterns and providing great entry set ups. This time it's an ascending triangle after the bull flag I mention in my last idea.
After breakout, it's now on its way to test the triangle's resistance, as support. I expect more upside, even though RSI on monthly and weekly charts remains in overbought territory.
What do you think we are going?
BTC Flirting to Break $50,000 📌 BTC Flirting to Break $50,000
This illustrates the perfect gift for valentines , but also touches on the problem of magical technical targets. An impulsive leg, avoiding the 161.8% target for our wave (iii) because it could lead to it being pinned by sellers.
Now buyers are better than the textbook move for our , firstly when you think of development and secondly observing sellers and noticing that the boat is still not fully loaded to the long side. So a capitulation move towards +/- $57,000 is urgently required. Moreover, lets also consider 216.8% to be an easier area to defend than 161.8%.
Admitting the weakness of sellers defence, worth considering that the path of least resistance is still to the topside. The threat is hard to find, only regulation will trigger the surrender (not expected to enter in play till summer 2021) and with a positional advantage here we must continue riding the pig .
Thanks as usual for keeping the feedback coming 👍 or 👎
XRP: ELLIOTT WAVESWe take in consideration Elliott waves in order with Fibonacci's levels and different clusters of Volume (as POC = Point Of Control)
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