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Btcmonthly

CRUCIAL MONTH FOR BTC TRIANGLEA monumental move could happen at any time in these upcoming weeks. In this weekly chart of BITSTAMP:BTCUSD , the historic triangle or the apex dating back from 2013 is nearing an end. This upcoming month should be a decisive point for the coin, and we should be mindful of it. From a technical analysis perspective, the triangle consists of a nearly two-year-old resistance and a decade-long support line. Recently, we saw the Bitcoin price stabilization between the 26 to 28k range because of that very strong trendline. Within the apex from approximately the 1st to 2nd week of November, we should expect outcomes by looking at it in the big picture. We're nearing the end of it, and let's keep in mind, it's a matter of time and patience. I'm considering bullishness considering the historical monthly return data, the -ber month of October to December is great for Bitcoin, so I'll keep it as that. It is an exciting time for us traders because it's a long time coming for many, and we expect a massive price movement. What would be the next move? Since I'm bull-biased for upcoming weeks, I will wait for the breakout of the triangle, and then the $29,000 resistance line before entering a possible position entry. If a breakdown happens, short upon confirmation and possibly take profit using fib line areas. I would like to know your opinion since you reached the end, which trendline should break? The young or the old? Let me know in the comments below. As always, plan your trades as this is a potential long-term movement moving forward, happy trading and in advance, happy holidays :)
BITSTAMP:BTCUSDLong
by luigi360swirl
$BTC Price Prediction April ForecastI believe $BTC could range anywhere from 37k to 40k by the end of April to early May. We could see Bitcoin retrace back down to between the 0.618 and 0.65 Fibonacci level, aka the golden pocket. Another potential area Bitcoin can come down to is the 0.786 fib channel level as $BTC has rejected the 0.5 fib channel and is now testing the 0.618 fib channel level. I am currently 65% bearish and 35% bullish for bitcoin this month, however, in regards to other altcoins and eth, we could see a rally in the larger cap alt market. I am still long-term bullish for BTC regardless of its upcoming price action in the upcoming months.
Short
by yoyokenwan
4
BTC 1MONTH CANDLES - LET'S ZOOM OUT AND PREDICT HOW 2018 ENDS :)This monthly candle seems crucial. I see two major scenarios that can play out from here. Scenario (A): If September candle closes above the green support line, then we go bullish for the remainder of 2018. HODL and accumulate BTC on dips. This is the relatively easy scenario. Scenario (B) If September closes below the green support, then we could go bearish for the remainder of 2018. I would start to develop some healthy fear if you have a lot of your money in BTC. The green support line would become resistance. The purple support line is where I would expect a bounce if the bearish scenario starts to play out. Don't get trapped trying to trade a bounce from the $5800-$5700 zone. There are too many people eyeing this price zone, which makes it extremely dangerous. Wait for a solid confirmation in either direction instead. Again, DON'T GET TRAPPED TRADING THE $5800-5700 PRICE ZONE, OR A WHALE WILL EAT YOU ALIVE. I'd expect the price to follow the red resistance line down to $3,000 or worse if scenario (B) plays out. Then, I'd expect a reversal and bear exhaustion around $3,000, but an even lower price wouldn't be completely out of the question. Another possibility for scenario (B), let's call it (B.1), is that the price doesn't head straight down, but instead tests the green line as resistance after bouncing from the purple support line. Failing to break it, it would then head back down toward the blue line at $3,000. --- Some final thoughts for 2018... Don't listen to people who say that BTC "can't" go lower than a certain price, whether because of mining profitability or whatever other reason. There's no mathematical "rule" that will keep BTC above a certain price if the market goes full bear, and you should be ignoring people who are claiming that there is a "certainty" the price can't go lower at any point. Now, this wouldn't mean BTC would go to $0 and die. It probably won't ever completely die like that. Mining will always find its way, whether it moves to lower electricity cost locations, or moving to alternative energies, or some other unforeseen scenario. The point is, the profitability of mining failing isn't a guarantee the price goes to $0 and BTC dies by any means. --- My bias is bearish for the rest of 2018. But I'm not confident enough in either scenario's probability to trade it with any sizable position. I would start buying at ~$3,000 in any case. Good luck, and see you in 2019!
BITFINEX:BTCUSD
by lonknex
4