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BTCUSD Trading in a Narrow Channel | Potential Bullish ReversalIntroduction to Trade Step-up: Bitcoin essentially saw its value to almost half in just a month. Now price has been trading in a short-term bullish channel ever since. Trade Step-ups: Bullish Reversal: Price rejects a breakout from final support of the bullish channel. Profit levels to look for are 4400.00 & 4600.00 respectively. Bearish Breakout: Price breaks final support of the trend, look for consolidation below 3900.
BITFINEX:BTCUSDLong
by EmpowerTrader
Shakeout or Distribution ?Minimal txt on this one. Thought this move would extend down to 2.9-3.2k, but noticed volume/price rising as well as OBV in a Wyckoffian structure at 35xx Previously all Wyck structures had OBV falling and subsequently broke down. The important thing to here is to look at possibilities, and at present, the larger picture shows that this is more and more likely looking to be a terminal shakeout (spring is the often incorrectly applied term. Something I am guilty of doing all the time.) The point being is that if this is a selling climax then we are entering accumulation below the 6k mark. However, if this is a Terminal Shakeout (a way of getting as much asset from us retailers through fear) then we will be finishing accumulation and entering a new market cycle. The key characteristic of a Selling Climax (distribution) is the highest selling volume on in the bear cycle. The key characteristic of a Terminal Shakeout is a sharp drop in price, followed by strong and continued buying volume BUT THE SELLING VOLUME HAS TO STAY BENEATH THE PREVIOUS SC Here is a 1W chart to demonstrate. This is by no means a certainty. I am just looking at the characteristics of the chart combined with fundamental analysis (Huge institutions and projects, other markets in termoil, the relationship with Gold and BTC...) It would make sense to start a new market cycle now, and it the ideals of these bigger players would be to take as much asset off retail in preparation for a price increase.
COINBASE:BTCUSDLong
by UnknownUnicorn2454397
3
MAP of crypto market copied from a real market? 3 Today example Microsoft and BTC. Just can see this days red, red and more red in all the charts from crypto, so for me is time to just be in the side and look, just wandering again the same crazy idea of the big whales are following some patterns, as I said before maybe they need a path...if not this game called crypto will be a total mess in that case is better to play black jack or Texas holdem, until now with crypto, really you just can speculate a lot, maybe hodl for some time, trade it but not get in love with any of them. Anyway hope everyone is ready thinking to accumulate because this will take some time until crypto recover or maybe I will swallow my words and will recover in weeks or sink worst like the Bismarck...who knows???? this is crypto give you a lot of profit in hours or burn your profit and capital like the Hindenburg in 36 seconds... Trade safe! Hodl conscious and don't get in love with any of them...just look which one is more profitable in this moment. Again this is just a crazy, crazy idea! not financial advice and of course there is not certain date or even possibility this happen, just crazy idea!
BITFINEX:BTCUSD
by GaijinTrader
1
Bitcoin - The Bigger PictureAs BTC continues squeeze, many like myself are stuck wondering when the next move will happen. Looking at the daily chart of Bitcoin on log scale, you will notice that it is inching its way closer to the long term trendline. It appears that if the price remains stable, within the next day or two we will come into contact. Once contact is made, I believe a large move in either direction could be possible. IF Bitcoin is able to break up from this trendline, I likely enter a long position. However, must keep in mind there is possible resistance at the next trendline up around $7200 that we must also pass for there to be any significant upward movement. IF Bitcoin is once again rejected from this TL, I believe the 6000-6200 range could still serve as support. This would leave BTC to continue squeezing to a point. IF 6000 support fails, there is also the yearly horizontal support line at 5800 which yet again could produce a bounce. IF 5800 support would fail. It would be a huge setback from the crypto market, and would likely mean that this downward trend is far from over. What I am expecting: Looking at the VPSI on the daily, it shows that both bull and bear volume pressure are reaching the charged zone. However looking closer, it shows that despite the Bulls currently maintaining minor control, the Bears have reached their reversal zone. Meaning that they have a higher chance of reclaiming control at the moment. Looking at the daily MAs. It also appears that Bitcoin is having a very difficult time reclaiming even the 13 daily MA. With those two points in mind, and Bitcoin nearing trendline resistance, I believe a move down is slightly more likely. If you have been following my past ideas, I believe that the 6000-6200 zone could provide an excellent spring that could push up over the trendline. This all being said, with this lack of movement any prediction could turn out correct. So don't overtrade this chop. Just set tight, and let the market show us the way.
BITSTAMP:BTCUSD
by oh92
4
Head and Shoulders to $6000 Retest?Throughout all of this chop, it appears that Bitcoin has formed a possible head and shoulders pattern. As I am writing this post, BTC is currently re-testing the established neckline. IF in fact we do continue breaking down, I have a primary support located around $6000 or in the green range shown above. There is also potential trendline support around $6200 However there is a recently established higher low, so if BTC fails to break down and instead goes north to retest the downward TL, I will be hesitant to go full bull until we break past the strong resistance at $6800. So even though I believe there is a higher chance we will fall , I am reaming fairly neutral at the moment due to the amount of chop in the market. I plan to keep this idea updated in the comments below. I hope you all found this idea interesting and maybe even a little helpful! I wish you all the best of luck! Please feel free to share you ideas regarding the subject below!
BITFINEX:BTCUSD
by oh92
6
BTCUSD Morning UpdateTechnical Analysis Hey guys! Sup? Hope U are doing fine, so let's talk about our favorite bitcoin. So we saw really choppy moment in bitcoin past week and a failed attempt to cross $6600 Level. It got rejected 3 times and breaking down. So let's come to the chart. The Black Line on the chart represents the mean line and hopefully the bottom of the bitcoin will spot there. Right now its forming a triangle which will broke-down and we will see Test of $5600 support level. which may hold for a while. It is the last Z wave of WXYXZ Correction bottom is near guys hold on tight. that's all for now, don't forget to leave a like and follow me for more cause lots of charts are coming in, Thank You. Indicators 1. MACD - Neutral on weekly 2. RSI - Neutral Bearish on weekly Conclusion What I think Bitcoin is going to do is that it will breakdown to 5k take support on mean-line consolidate for a while and the mooooon Previous Analysis Thanks Guys For The Support
BITFINEX:BTCUSD
by im_sng
1
BTCUSD Morning UpdateTechnical Analysis Hey Guys what up! Sorry i wan't available for long but now i'm back and lets talk about our favorite Bitcoin. Lot's of news we saw ETF got rejected, Starbucks and many more. So let's start with the bull run we saw a week ago we bounce from $5700 To $8500 very good run but we got rejected again at heavy 61.8% Fib levelhttps://www.tradingview.com/x/qR3UhVo3/. SO where we headed to ? its on the chart we still didn't broke important support level which i mentioned on the chart. Indicators 1. MACD - Bearish On Daily 2. RSI - Bearish(Below 50 Level) Conclusion So what is the conclusion, well it depends on this level if it got broke we will continue to bleed but if it took support we may moon soon Thank You For Your Support Previous Analysis
BITFINEX:BTCUSD
by im_sng
1
Ignore manipulation, "buy when there's blood on the streets"It was looking so good for a bull run (it still is BTW) and then out of the blue on a Saturday the market has an immediate unpredictable crash. You could panic sell but in all likelihood this is a market manipulation caused so that you do exactly that. Indicators are still in place the an exponential rise so dont make the mistake of selling the dip. Rothschild made a fortune buying in the panic "the time to buy is when there's blood in the streets."
COINBASE:BTCUSDLong
by warrenhochfeld