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Is BTC/USD bullish ? Current Daily Chart OverviewHi there, In my last analysis I commented that there weren't enough reasons to justify that Bitcoin was going to have a bearish scenario soon since the price action was still positive. I wouldn't be looking for facts like inflated action of the SPX500 to justify Bitcoin is holding very well at 9k levels. For me price is everything, i know this can change very quickly to a bearish scenario if price drops. However, I do not have a crystal ball and i cant be talking about bearish scenario will happen until price movement suggest it. Daily Timeframe - Breakout of the triangle formation and testing MA50 in daily timeframe. Price should pullback in 9250 area to make another leg up and stay above MA50. If this happen, then we could have a good LONG entry for futures/margin traders and we could be looking for 10k+ price - CCI next to enter in a green territory - RSI higher lows + Breakout - MACD crossing + STOCH RSI upward movement - Volume is really TINY. I would like to see more volume in order to confirm upward movement. Any false breakout and price rejected by MA50 could drive price below 9100$ being dangerous for Bitcoin. Be ready for any scenario if price turns! Mike
BITSTAMP:BTCUSDLong
by MikeCryptoSignals
ridethepig | BTC Market Commentary 2020.06.17📍 A highly interesting move for BTC would be followed by triumphal progress at the $9,000 lows again... The main feature of interest to me is the lows played on 11th and 15th June. It has a strong bid as a barrier and was well backed up, by the 2nd June lows. The next climax to the attack can begin over the coming sessions, what we need to be asking ourselves: What are the chances? Why would they buy that..? Start writing things down... If this goes up? Why would they sell it... write stuff down. You can build a powerful argument, getting under the back of a successful halving, confidence in governments and risk appetite etc. I hope this gives you a good idea of how to find cheap discounts - if you are a buyer, you start to look below... look for context; where am I? You can say you will pass on $9,000 but instead stick a limit in at $8,900 ... sure something can happen outside of markets on the virus front and we may have to work it out, it might be bumpy, but we can pan the idea, as long as we keep a cool head you can ride through the bumps. Lets get it done. I'll leave it at that....Hope it helps to make lives easier, keep at the grind and keep the feedback coming!
BITMEX:BTCUSD.PLong
by ridethepig
5
Bitcoin - H&S and then moon!?Bitcoin - H&S and then moon!? Hey guys, hope you all are doing great :) If you like my work leave a like and a follow. So today we are back with some Bitcoin Charting and we see a nice channel moving between 9400$ and 9600$. As well we see a high possibility for a head and shoulders formation with the right shoulder at 9460$. Of course for now, it is not confirmed, but you need to be prepared for this action. Until we see the breakout over 9600$, we will be in the noted channel. The RSI and MACD trends are also broken and we could find a support on macd in the zero black line. Lets see how it plays out :) I will update you guys on this scenario so leave a follow if you want. Best Regards, cryptography
COINBASE:BTCUSD
by cryptographyYT
1
Where Bitcoin Price is moving from here ?Hi all, I am back very quick with new bitcoin chart. In this I decided to explain various scenarios that could act and how we can tackle the situation. Daily Chart : From daily we can clearly say that the trend is extremely bullish however last candle is deceptive so from daily we can conclude that trend will result in upward movement if daily candle ends green along with follow up candle starting green. Else daily candle turning red is a clear sign of rejection whose trend will be based on larger time frames as discussed below. Weekly Chart: Weekly chart again little bearish but new week started green which can yield in a very positive upward movement however bad news is we can't conclude a week strength in few hours of weekly start so we are totally reliant on daily candle performance. So as discussed above if daily candle ended green along with follow up candle also starting green, weekly chart will boost the upward movement that will result in 11-12ks very soon however daily candle ending up red or follow up candle starting red can result in a good dip of weekly bars magnitude. Monthly chart: Monthly chart is Bullish so there is no need to expect heavy dips like 5k-6k range but we can see it may also retrace before next rise as you can see last 2 candles may favor tiny retrace (lacking retrace will beast mode bullish movement). So if you are a BTC holder just forget about btc trading and enjoy the normal work as it will only go up with or without retraces. My conclusion in simplified version: "Buy BTC if price crossed 9800(stabilized without a wick) else, Sell BTC if price hit under 9200(stabilised without a wick) as you can buy later down the price. If price stay in between 9350-9750, just stay out of the game. If there are quick wicks strongly avoid them from trading as volume is so low." My Guess : My guess could be wrong and not advised to trade, but based on some experience I can favor bears a little here but again if bullish scenario met as explained I will support the bulls and start buying. NOTE : Please feel free to like the chart and follow me if you like my work Best, Budha
BITSTAMP:BTCUSD
by UnknownUnicorn6209745
3