BTC Looking for Higher LowAlthough many of us wanted one 4-hour bar to shoot past the all-time high, we have to deal with some healthy correction for Bitcoin to establish it's prospective bullish trend. It seems as if any potential inverse head & shoulders or cup & handle formation can be considered unlikely following the symmetrical triangle breakout. We can expect a drop to the white support line based on the price target of the triangle. From there, we can continue to push forward.
Btcltc
Breaking the Bear Trend - Three Bullish Formations in BitcoinBear with me here because there is a ton of information on this chart (no pun intended). Looking at the 4-hour chart, there are a few bullish formations that can be identified:
1. Ascending wedge (light red)
TARGET: ~8100 (approx 1200 EMA)
STATUS: Broken out
2. Bull flag (white)
TARGET: ~7000
STATUS: Broken out
3. Inverse H&S (green)
TARGET: ~7780 (exactly 7780 resistance)
STATUS: In formation
This gives us 3 potential targets, all different but luckily all in the same direction. The bull flag completes the inverse H&S and the inverse H&S completes the wedge. There are 2 underlying paths this could lead us on:
1. Reach top of bearish trend line and collapse again
2. Reach top of bearish trend line, find miraculous momentum, and break it.
Number 2 in this scenario would require other formations in the future to form. As of right now, all we can (hopefully) assume is that we will reach the top of the bearish trend line. I believe that the H&S, if formed, will lead this process. The momentum it would give is necessary to break the rising orange resistance line and others in its way. In addition to this, its target would align nearly exactly to the top of the bearish trend line given we make some rapid movements. Also, it should be noted that if Number 1 plays out, it would also represent an underlying Elliot Wave and result in a retracement.
This, however, is assuming that each one of these formations play out. I hope this big picture analysis helps you figure out your own strategy.
BTC - THE THORN IN BITCOINS SIDEFollowing BTC over the past year (4-10 hrs a day graphing learning) I've gotten to be quite familiar with it's body language. That's why this little thorn hurt me so much and haunts me to this day. BTC ALWAYS recovers bullishly, but looking at the descending fork it should be recovering each time on the next level or quarter level. Instead it falls short of the yellow line and down back INTO ALL TIME RATIO LOW. Yes it did recover but not without getting a scare. I believe this event will cause BTC to be drawn out in its next recovery. Finding slight gains at 13800 but not all time highs for a long while. Well for the crypto world.. 4 months! Until May 19th @ 46k (see other post for projection graph of BTC)
I think this is because BTC also over extended its self on the previous bull run up to almost 20k. My previous projections had it at 18k, and 20k pushed the limit causing a equal over extended effect on the bottom side too. In the end the effect is more time.
"As Volatility (volume fluctuation) increases, so does the time it takes to balance out that volatility."
BTC LTC 30min tradePossibility on a fun day trade opportunity. Stochastic and MFI in an upward channel with MFI about to touch support.
We also have a wedge pattern forming indicating a "higher" probability breakout. Of course could be either side.
Awaiting confirmation with an increase of volume as well as a price break upward out of the wedge.
Another possibility if we see prices touch support line of wedge and bounce we can take a small long position as an earlier entry point, better probability for a price increase although it might smaller gains!!!
Targets for LTC/BTCSo I'm looking to get back some LTC with the new BTC purchased isn yesterday's fire sale. There is still time for BTC to go below 8000 but i'm playing the BTC bounce to fund more LTCs.
Here is my idea of price action and support. LTCBTC price has broken a couple support structure areas so we are short term bearish after this bounce.
Litecoin 500 in the next weeks.LTC looks BULLISH here.
Litecoin has been quiet over the last couple weeks, as other altcoins and even Bitcoin have surged. But we see that money flows are finally starting to enter LTC again.
We had a false breakdown below that long term trend line from 2017 highs. Now we are breaking back into that December consolidation range between the all time highs at 380 and those flash clash closes from December 22 at around 250.
After trying to breakdown below that blue 200 moving average, we held support and now a nice squeeze over the last day back into that consolidation rnage.
If we can hold this bull flag, we should break out to the upside. Targets are Fibonacci retracements:
Take some profits off the table at each step!
T1: 310
T2: 380
T3: 453
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Berlin Trader
BTC is not bullish guys!BTCUSD
To open SHORT positions for BTCUSD , it is required:
In this situation ]MACD must go into negative territory to confirm trade entry for movement to the downside but if the market trend continues to range this signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met.
Risk Description: TARGET 10K
Will add more position as price continues to fall.
Profit expectations: 1-4 day trade length expected before hitting profit target I will post exit strategy when signal receives a exit signal.
Trading method: RSADVANTAGE Stage 5, accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends suited for swing trading. This system is made of custom adaptive volume indicators and Oscillators that properly detect trends very early and provides exit signals at dynamic S/R zones once the trend has ended. // Average yearly pips gained is 40k per pair on D1 charts alone. I have provided a similar limited version of the system on Trading view to help traders visualize the strategy.
#Litecoin #LTC is headed back to $60 USD with #Bitcoin Gold ForkLitecoin is looking bullish to reach past $60 mark again when the market spiked ($62) after the crash to $36 with the closure of the Chinese exchanges. Bitcoin is stabilizing above $4000 USD with the upcoming friendly fork of Bitcoin Gold -0.30% so Litecoin is looking to hold above $50. Look to swing trade between $52 and $56. First wave of Chinese exchanges are closing this weekend so I am looking to increase my positions. BTCCNY only accounts for 2% of trading volume now so I am not expecting for it to drop below $50, but I am prepared to increase my long term position if it does. Market looks bullish for steady climb with good price action -2.97% . I have purchased Litecoins below $46 before the pump to $98 and have sold all of it during at $60 and $72 resistance levels. I have been scalping trading it as it was coming down and made gains on it by buying at $65 and selling at $78 ($82 was resistance level before crash). I got stuck with some positions purchased at $60, but been steadily picking up around $50 and double downed at $46 - $48 for long term hold. I sold the LTC purchased at $60 and $50 range at $52 before it dropped below $46. I have now re-entered the Litecoin market to make some gains to increase my BTC position to get more of the free BTG. Sorry for not publishing this earlier as I had only uploaded to Twitter.
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Signs of life for LTCRSI and price have broken their downtrends and appear to be flagging for the next move higher. Notice the ADX shows a listless trend that is ready to pick up. I think it's to the upside. Aside from TA, I'm a little worried about the BTC community and segwit2x. I have lots of faith in BTC but it seems safer to rotate into the out of favor LTC for some nice gains.