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BTCEUR

BTC ... The waiting gameEyes on BTC edging lower and being supported by renewed demand interest. Losses are marginal as we creep into the 6,000 handle with expiries later in the month. Expecting BTC and other major Cryptos to ebb gently higher as we await the macroeconomic backdrop to eventually feeding through into Cryptocurrency strength; given the punitive carry, the bar for maintaining BTC short is high. I find on most models BTC is moderately undervalued - circa 18% versus USD - which is an important leg to the USD devaluation stool. Overall, I see the case for meaningful BTC strength in 2020, but especially if considered versus USD, rather than EUR or GBP - maintaining longs will require patience and tolerance. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside. Good luck all those buying dips in BTC.
BITMEX:BTCUSD.PLong
by ridethepig
4
Bitcoin heading to 6100 XBTUSD6100 is a key whale level, it's been signaled for more than a month now. Yesterday it should have happened, but a short squeeze came first. 7500 was wicked and now ponzi should be back on its original and fair value determination, which is down. 6100 will be reached eventually, hopefully this year. 6100 provides an excellent long entry in return, so you could enter your longs around 6200-6300 if you're impatient. But given the pump that's probably coming after that is a bit bigger than usual, be sure to have a solid liquidation price at hand and don't overleverage that spot -as crazy stuff is bound to happen, as I'm personally suspecting 6100 will be the reversal of trend for some months to follow. But we'll see, won't we. For now I'd be happy to see myself confirmed, as price approaches 6500 again and finalize the move to 6100. Because we trade ponzis and crypto, again, expect this priceline to be very wicky and have a liquidation price that can handle irrationalities in price. Cheers
BITMEX:BTCUSD.PShort
by bigfish15
6
ridethepig | BTC Worm In The AppleBTC - Choppy trading persists - a touch of excitement as we break back above the prior downward sloping trendline from last week, however the market is mindful that $ shorts are becoming more widely expressed and I am awaiting the spillover into BTC via the next key risk driver. Expecting BTC dips to continue to be met with demand/covering interest and a close above 7250 is needed for us to get excited. Largely ignoring broader cryptocurrency gyrations and heavily XBTUSD, EOSUSD, ETHUSD and XRPUSD influenced, intraday. For the execution here we have infamous Worm In The Apple alerts triggered... In usual circumstances it will be a good opportunity for bears to load, however smart money who understand the macro flows in play will ping the lows into year-end. On the longer term chart we can comfortably lean on BTC: Thanks for keeping your support coming with likes and comments! As usual jump into the comments below with your views, charts, questions and etc.
BITMEX:BTCUSD.PLong
by ridethepig
1
Where to enter $btc to catch the new wave !$btc showed great strenght/momentum from <$4k to ~ $14 and we haven’t seen this kind of strenght ever since. What does this tell us? The move upwards was most likely the longer current trend and the current downward movement is a correction. This correction reached the 61.8% fib level, but as it’s a wave 2 it could reach new levels. It’s actually not so relevant where the bottom will take place ($5.2k is the next level with the purple dotted line as intermediate, strong, support). What is relevant to keep tracking when $btc breaks out of the current channel. An upward breakout would kick-off a new wave (3) up which should be stronger then the previous wave. As long as $btc moves within it’s channel, an alternative (bearish) count is still valid so the risk/reward of open positions is much higher.
COINBASE:BTCUSDLong
by Ralphho
ridethepig | BTC Market Commentary 2019.11.28BTC - After a big wave of international BTC buying yesterday, the London open has been rather calm - foreign accounts continued their USD selling but in much smaller sizes. On the news front, in the evening there was a headline saying “Bakkt Bitcoin Futures reached a record high” - important for those positioning for Bakkt Bitcoin Options contracts on Dec 9th. Still patiently sitting on hands waiting for the breakout which looks ready to come in the next few sessions: We can comfortably lean on the long-term chart as long as the market remains above the widely mentioned 6200.x Overall, I want to be constructive on BTC given relative hawkishness in comparison to other major cryptos, expecting the bid tone to continue with dips being quickly absorbed by the market. Dips in BTC are likely to be shallow from here as we approach the Options launch. I remain bullish BTC, look for a break of 7800 in BTC$ to unlock the significant targets to the topside. Thanks for keeping the likes and comments coming and as usual jump in with your charts and ideas - Best of luck all those buying or tracking the "Bakkt Floor" !!
BITMEX:BTCUSD.PLong
by ridethepig
11
Fib Trend Analysis. MAJOR SUPPORT FOUNDBased on a basic rule of thumb, if the .786 or greater retracement is hit after a significant bull or bear trend it is expected that a reversal has taken place. BTCUSD just so managed to hit the .786 after its 2018 low of 3100. Therefore based on this rule, BTC has entered an unconfirmed bull trend. Keeping this in mind, it would be wise for fib traders like myself to start to look for major retracement levels for BTC . One of the most common levels is the .382 which just so happens to be just below where we are now at 7852.0. As long as this level is held, we can expect further upward movement from BTC . However IF this level breaks, I would find it extremely likely that we would test the major trend line around $7000 and possessively even the .5 retracement level around 6600. Looking further down we also have Multi-Year Horizontal support at $5850. My Plan & Opinion: With us currently above the .382 support, I would love to enter a long term long. However at the moment there seems to be too much hesitation and uncertainty, so an additional leg down seems very likely. I believe IF BTC were to test the $7000 area larger investors would feel more comfortable entering the market. So why would I be willing to buy here if they are not. I will be paying attention to lower time-frames in search of trend confirmations and try to keep everyone updated with my position. Markets are like life, they rarely go as planned. Hope you enjoyed this update, and trade carefully!
BITMEX:BTCUSD.P
by oh92
4