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BTC (Y20.P3.E9).Macro.Formation.v2Hi All, This post is a continuation from my previous version 1 post which for now looks like it was spot on. Refer to the bottom of this post for the chart. > Hence it gives me somewhat more confidence to use this methodology for the next round of the cycle since we have the latest price action and what I presume was the top (as we have broken the uptrend with no new higher highs) > This methodology refers to the Inverted BARR approach. Using this to identify 2 potential targets and applying it to the macro structure, it seems there is confluence with the ABCDE elliot triangle correction wave. ( For a TA explanation of this chart, in terms of lead in trend lines and how they are used to deduce the target, then please refer to the post below and a video post to support it) Summary (What to take from these charts) ======================================================================================= > Note: Diamond top pattern, reversal pattern > We have the 10/20 EMA converging around the 8150 range on the Weekly > We have the 100 EMA 7400 range which played a significant role in the past in terms of support > With the Inverted BARR we have the bottom around 6700 and 7000. > Using the volume profile approach, we have 6700 as an area with strong support, so just above it, is 6900. This also has confluence with the 0.5 fib retracement. (refer to chart below) > Looking at the chart, the range from 7500 to 7800 looks like a strong support area which has confluence with this strategy. > So these 2 areas are of interest to me in terms of going in long\strong. That is 6700 and 7500, more so, 6700 to 7000 if I was to choose. > I expect a nice bounce when we hit the 0.236 fib level (double bottom) around 8350 -8500 and 7850 to 8050. > I expect a strong rally at the 0.382 fib level 7450 We plan and the market makers plan, so we just have to take each level as it comes. WEEKLY Chart with 20/50 EMA ribbon and the 100 EMA. One can see in an uptrend, the weekly 10/20 ema played a significant role and the 100 as the V1, Previous post
Long
by ssari
BTCUSD Explosive MomentsIdentified by the blue loading symbol, we have a pattern of volatility, sideways, volatility, sideways...etc within the $5.5 and $7.7 price range. The timeframe between these bursts of intense price activity is also getting shorter and shorter. I find most of my charts are like unearthing a dinosaur; I never know what I'll find and if I've found it before. I come at this with a clean slate and a fresh mind. Highlight various things I see or patterns that stick out without considering or consulting previous charts to truly vet my mental state and vision. When I find fresh and non-correlating lines paint the same picture, I become a bit more invested in the previous vision my intuition leaned towards. I've learned I don't have to like it to trade it as well. We don't have to agree with a price action to prepare for it either. Ladder positions. Sensible stops. Hedge. Use multiple exchanges if you have to with counter trades. Net positive and risk management in check? You are set. Managing complexity as well...always look for ways to reduce risk and complexity.
BITSTAMP:BTCUSD
by vilnix
Next Break Ups ! / Próximos Saltos del BitcoinBeing above bitcoin's breakeven point at 8500USD, the next jump is at 10,500 to 12,750 in extensión. The moon will retest 20,000 per whole of bitcoin. The low note is that there may be price corrections after the liquidation of miners with less technological capacity. Keep an eye on this aspect. Estando por sobre el punto de equilibrio de bitcoin en 8500USD, el próximo salto está en 10.500 hasta 12.750 en extensión. La luna volverá a probar las 20.000 por entero de bitcoin. La nota baja es que puede haber correcciones de precios después de la liquidación de los mineros con menor capacidad tecnológica. Vigilar este aspecto.
BITSTAMP:BTCUSDLong
by CristianGCX
1
#BTC Facing Important Resistance.Hello guys. welcome to this update.BTC successfully broke above the black horizontal resistance. Now it is facing resistance around the 7800 area. Break above this range and we can expect $8300. If it doesn't beak above the resistance then I expect $7500 to act as a major support level. RSI is concerning me for being bullish atm. If you're holding any longs either put a SL or take some profits. 7500 and 7277 which is also the 200D MA acts as a major support here. Let's see if it breaks the 7800 level. #PEACE
BITSTAMP:BTCUSDLong
by Cryptorphic
4
Bitcoin Halving History And PredictionsCryptohopper Newsletter BTC has continued its rebound, and it is now 90% up from its lows this year at 3,800$. With the halving about a month away, many BTC enthusiasts and investors expect the price of the asset to continue its uptrend. Today we will examine the past two halvings and give out our predictions for how the third halving will play out based on the past data. Without further due, let’s take a look at the previous halvings and at our predictions for the third! First Halving The first Bitcoin halving occurred on November 25th, 2012. The price of Bitcoin before the halving was only 12$ . After the halving, the price increased by more than 9,000% to 1,160$ in about 1 year. This was followed by an 86% market crash over the course of 420 days. After a long period of consolidation of about 300 days, the price started to increase again before the next halving. Let's now take a look and see how similar or different the price behaved during the second halving. Second Halving The second Bitcoin halving occurred on July 9th, 2016. The price of Bitcoin before the halving was only 650$ (half of the previous high) . After the halving, the price increased by almost 3,000% (only a third compared to the other one) to 19,500$ in about a year and a half. This was followed by an 84% market crash over 364 days. After a shorter period of consolidation of just over 100 days, the price started to increase again before the next halving. Sounds similar? Well, that’s because it is. The price followed an almost exact pattern from the first halving. We will now move on to our predictions of the third halving based on the data gathered from the previous two. Third Halving The third halving is set to occur on May the 13th. If the third halving will follow the other two, then the price of Bitcoin should be around 9,000$-10,000$ around the time of the second halving (half of the last high). After the second halving, the price should increase by about 1,000% if it is to follow the tradition of increasing 3 times less than the previous halving. If all of the previous statements turn out to be true, then we could expect BTC to reach around 90,000$-100,000$ after the third halving. The price should then follow a correction of around 80% down to 20,000$ . In short: We expect the price to be around 9,000$-10,000$ around May 13th. We expect BTC to reach around 90,000$-100,000$ at its next peak. We expect the price to follow a correction down to 20,000$. These are of course our expectations based on how the price behaved over the previous 2 halvings. The price won’t necessarily occur following the exact steps we displayed here. As with technical analysis in general: the price tends to follow historical patterns but it doesn’t have to. If the price will behave similarly to the first two halvings, then trend-following indicators will be very useful in identifying the trend and riding to the moon. Join us on Cryptohopper today and take advantage of the next halving by automating your trading.
BITSTAMP:BTCUSDLong
by cryptohopper
4
IS BITCOIN ALMOST READY TO BLAST OFF?Dear Traders and Hopeaholics alike, as the self-proclaimed President and Founder of HOPEAHOLICS ANONYMOUS (or HA for short) I give you BTC 16K annnddd NEW ALL TIME HIGH of 21K :). Right now they are going to be reading this post and shouting HA HA HA HA HA everywhere I go. But as the President and Founder of HOPEAHOLICS ANONYMOUS , don't let me be the one to have the last laugh... If you are in the industry (Crypto one that is) like me, you know that CRYPTO BITCOIN offers HOPE , it offers the possibility of a more secure and transparent future of money, one that is fully traceable, one that allows you to hold and secure it yourself without relying on a third party that may or may not be there in the future. IT ENABLES FULL CONTROL OF YOUR MONEY! THE TECHNICAL STUFF BTC has NOT broken support, in fact we have bounced each and every time off the diagonal support, we are also about to make a stop run to around 7k for a liquidity grab, then more than likely, the community will turn BULLISH and the whales will take it down one more time to complete our Elliott wave pattern. Lower wedge support is around $3700-3800 range. This is the 0.88 FIBONACCI range which BTC loves to correct to. (we did this from the ATH) Our 3rd wave retrace target has corrected to 0.78 FIBONACCI. Our correction was also a result of rejecting the parabola, so I believe we are going to 16K to retest and attempt break through only to feel the rejection at this region again. THESE RANGES ALSO COINCIDE WITH LONG TERM DIAGONAL SUPPORT FROM AROUND 2015 - this was the start of our bull run as such. If this region fails to hold and find support of the buyers, our next support is $3,200 range which was the bottom of this run. I am okay with a wick breaking through to this region for a strong bounce. ********************************************** NOW ASK YOURSELF THIS - IS THIS SATIRE OR ENTIRELY POSSIBLE? I'll let you make that decision for yourself, as you are pushing the buttons. BUT let me tell you this... at HOPEAHOLICS ANONYMOUS and in my world... ANYTHING IS POSSIBLE!!! SHOOT FOR THE MOON - EVEN IF YOU MISS YOU'LL LAND AMONG THE STARS ! ********************************************** If you are unsure of direction or feel you are over trading I have a moto. IF IN DOUBT SIT IT OUT! There is no shame in not being in a trade. Stick to your game plan, wait for a set up to be confirmed, and ONLY take a trade if it all aligns. So please I welcome your comments and CONSTRUCTIVE FEEDBACK - ALL HATERS WILL BE FLAGGED AND REPORTED! And remember, there is NO RIGHT OR WRONG in trading - just money management! REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimize your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!! <3 Lisa DISCLAIMER: The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons... PS make sure you give me a like, that way you get updates as I post them.... :) <3
BITMEX:XBTLong
by LisaNEdwards
46
Bitcoin - How to safely jump in In the previous post, we talked about how closing 3 candles above resistance constitutes a confirmation that we are now above resistance. Do we want to jump in now? You could with a good stop-loss, but if you want to jump in using a much safer strategy let's go in on the pullback as long as the pullback stays above support. Why be so conservative with our entries? Because that's where most of the money is made or lost, in the end, it's about timing. If you set your stop-loss too close your exchange will close you out, if you set it too low you risk losing a lot. The more capital you have at risk the more you should be concerned with a safe entry point and not price. Also, please use a good risk management strategy. The best way to keep that cash safe is to jump in when there is a low-risk entry point (which is building up right now.) Know when and where to set your stop-loss and position sizing to minimize risk and maximize your profit. WHATS BTC DOING NOW? So far BTC has gone over months-long resistance that has turned into support. What will be a good entry point? Once we retrace to the white line and if price refuses to close under it. What constitutes support is when price (candles) test and retests a line while refusing to go lower. So far we have one small initial test (not too impressive.) We are looking for a strong obvious retest. Make no mistake BTC has been on a short uptrend and it is looking to certify it. We'll go in when it is safe not when it looks like it's safe. WHAT TO LOOK FOR? The 50/200MA golden cross, this is building up and looking to certify this young secondary uptrend. I am surprised how quickly we may come out of our 50/200 death-cross. The fact that we are coming out of it this just a few months later it may be telling us how strong the next uptrend will be, It may happen in the next 2 weeks if BTC stays where it is or moves up just a little. At this point, only a drop to the "New recommended buy zone" would invalidate the 50/200 crossover. VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of thanking me for my time and so I thank you for yours. THE TREND: Neutral / Sideways THE OUTLOOK: More downward movement expected.
by cryptoGats
196