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Bitcoin Bear Market Done, Turtles Lets Flip Bullish Again!Well Bitcoin retraced as we expected it to retrace so now we are having a reversal and we are flipping bullish again! Now we have EMA 20 crossed EMA 200, EMA 50 crossed 100 and soon EMA 20 will cross EMA 200 which is an extremely bullish sign so we have a downtrend line meeting us at 7kish area however this time I think we do have the potential of breaking this trend line last time we didn't even get close to it. But lets not guess and see how the first waves of this bull cycle goes so far I only see bullish signs maybe some short term retracement after the bounce we had from 6.1k area but generally the cycle is bullish. We have EWO exiting the and already exited the bearish divergence we had with the last green wave we had, 4h STOCH is soon flipping overbought again and we are starting a green wave and continuing it on EWO on 4h timeframe. 1D chart is as juicy as it gets with STOCH moving from oversold area and EWO showing a bullish divergence on 1D too! So congrats everyone who went USD/USDT and was waiting for a re-entry , the time has come another rally up before we go down again! Good Luck, Traders! #moon #mooncommunity #turtlestyletrading ;) Be a turtle my friend © Farhad Jafarov
BITFINEX:BTCUSDLong
by farhadjafarov7
6
Bitcoin Weekend Bearish Flag completion or Rally ?Bitcoin positive start to the day, though the lack of an early relief rally leaving the Bitcoin bears firmly in control going into the weekend. Bitcoin Technical Overview Day Trading Range: $6230 - $6650 Key Resistance: $6455 - $6528 - $6580 -$6635 - $6680 Key Support: $6378 - $6320 - $6278 - $6220 - $6170 Most Likely Scenario Long above $6400 with target $6480 & $6550 in extension. Alternative Scenario Short below $6300 with target $6245 & $6170 in extension. Technical Indicator: MACD: MacD shows in 4H lower strength for short, getting power for coming Bullish scenario. Moving Avg: SMA200 ($6646) strong resistance for the day & SMA100 ($6851) trading also resistance area. Overall, Plenty of headwinds remain, including the SEC’s review of the 9 Bitcoin ETF applications that comes in the wake of the latest suggestion of market manipulation, a sizeable short position ahead of the Goldman Sachs news that hit the wires midweek. Sentiment is particularly bearish and while there has been some upside early on, the gains are of little relief, investors needing to protect the downside ahead of next week’s EU gathering. For the day ahead, holding above $6,410 through the morning would support a run at $6,528 levels and the day’s first major resistance level at $6,545 later in the day, though Bitcoin will need to break out of its current ranges early, else face the prospects of a reversal, investors somewhat bruised from the losses through the week. Thanks YoCryptoManic
BITMEX:BTCUSD.PLong
by yoCryptoManic
1
BTC. Need correction.After a 2-week consolidation in the range of 6300-6500 buyers checked the price range of 7300-7500. Consolidation was in larger volumes than the previous one, which lasted from June 12 to July 16. Yesterday, when buyers tried to break through 7300-7500 - the market went a lot of volume sellers. The margin shorts chart confirms this. Therefore, I think without correction there will be no extension of growth. The previous growth was fast not because of the high interest of buyers in the BTC. The fact is that local high on margin shorts were in the price zone of 5800-6700. Having broken through this price zone, buyers were panicked for the closure of sellers' positions. This time the situation is the same. I see two variants of correction. The first, positive, is that buyers will keep the price zone 6700-6800 and from it will be an attempt to grow. Then you need to look carefully at what volumes buyers are trying to break through to 7300-7500. The second scenario is the continuation of consolidation in the big triangle and an attempt to break through 5500-5800. with a target of $ 4,300-4,000. In this case, buyers should not hold 6700. So I'll wait for the price to come to the price zone of 6700-6800, after which I will continue my forecast.  
BITFINEX:BTCUSDShort
by P_S_trade
2
Bitcoin's Slow and Steady Road to 1 Million Dollars ($1M BTC)***This Idea was charted on a Log-scale chart*** On August 17 2015, with months of a deterioration of Bitcoin's price, everyone's confidence in Bitcoin waned as BTC price fell below $200 to a record low of $160. Almost a year beforehand, Bitcoin was almost 10 times its price, and some people that had bought at that time as well as the Hodlers were starting to think that this might actually go to ZERO. Many cashed out their long-term investments after months of waiting for the price to rebound. Doesn't this situation that I have described feel like the current state of Bitcoin today? Well if you said yes, then you are right because that situation that had happened IS what is happening right now! In fact, look at the previous low that BTC visited. What was the date? August 13? Well well well, what an interesting observation. The low back then compared to the previous low is almost exactly 2 years apart. That is not all, Ever since the price dipped to $150 all those years ago, Bitcoin has been finding support on one of the the largest trend lines in the history of Bitcoin. The trend line has not been violated since $200. (I indicated the purple trend line on the chart above) Let's walk through this step by step. I will be referencing the chart with pictures below. I believe, as most people here do that Bitcoin has still not hit a true bottom. We might have a small increase in price for a while (which I have indicated above), but I think the bear market will continue to the $5000 mark. This also will hit a key level in the fib channel (the rainbow looking regions) as well which increases the likelihood of the revisit happening. So why is the Fib channel so important? Let's get into that. So by applying the Fib channel in the same direction as the Huge bull trend that was drawn, it gives some interesting observations: - The first is that the price highs and lows both interact with the fib channel. This is seen at the red and purple arrows that I have indicated on the chart. This picture only shows the beginning of this trend. Take a look at the rest of 2017 below: As you can see, the fib channel interacts with the highs and lows of Bitcoins price very very accurately. Not only that, the Fib extension lines pass through the $20k BTC mark perfectly(the navy blue region). So this fib channel in fact could've predicted a $20k BTC reversal as early as June 2016. Now how long did this bull run take? Exactly 845 days. The price shortly after starting correcting and then the bear market started. Looking above, as my prediction shows on the chart, once BTC hits 5k, It will slowly start coming back up to almost $13-14k. Then one last correction will happen all the way to the purple support trend line before BTC is invited to the rocketship to start the next Bitcoin Bubble. Extrapolating 845 days from the low on August 13 2018, you will see only one intersection on that day, and the intersection is that of the fib channel and the $750k BTC horizontal trend line. Bitcoin might have short squeeze to $1 million dollars and then the bubble will either pop, or mass adoption will occur. In my perspective, I believe the former will happen. What will happen thereafter is too far ahead to matter. If you made it to the end, thanks for reading. Really appreciate it. If you enjoyed this commentary, please leave a positive comment or upvote. Signing off, hullah3000
BITFINEX:BTCUSDLong
by Haseab
2