Btcprice
BTCUSD left-centered 2-month cycles still in play ?Hi folks,
As we know already, BTC seems to have a Macro cycle of about 4 years length from ATH to ATH.
But there is an overlaid smaller cycle structure for the price-movement of BTCUSD on a time scale of approx. 2 months.
Currently, as we are correcting or in a bear market, these cycles are left-centerd, i.e. the price top occurs at the beginning of the cycle and then moves down to the end.
Graph above shows a possible indication of the small cycles in play, it's off course all about getng the right start/end dates for the cycle-periods !
What I want to suggest is, that maybe we are not out of the woods yet and price may head south a little more..
What I want to see is a right-centered cycle, which would be indicative for a new bullish movement (price top occurs to the end of cycle, together with a sharpe increase and then correction, Elliott-wavyisch...).
As always, just guesswork here. Please always DYOR before taking investment decisions.
cheers
Neutral volume/price analysis on Bitcoin day chart BitStampI'm illustrating this just to mostly illustrate a point about use of volume in price analysis. Bitcoin right now seems to be a battle of small groups or single people perhaps even who are both trying hard to influence market here. Perhaps a semi-larger group (maybe miners again or exchanges) are trying to support price. One large seller or a small group seems to be trying to hunt for stop-losses and or break support lines long enough to influence more downside. Hope this helps someone, this is just my thinking and ideas. DYOR!
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Small symm. triangle on 2h BTCUSD chart - bullish continuationAfter the last big green candle breakout from the ascending triangle formation with resistance line at 4090-4100 USD, the price action shows short-term oscillation around the 4100 USD level with converging amplitudes.
Probably a continuation pattern for the up-trend. Breakout to occur expectedly within the next hours to the upside. Next Levels: 4350-4450 USD/BTC.
Let's cross fingers ;)
Sym. Triangle transformed to Ascending T. on BTCUSD chart The previous symmetric triangle formation played out to the upside and the lower trendline together with the current price resistance at ~4090-4100 USD/BTC forms now an ascending triangle, which is usually a continuation pattern and breakout should be bullish.
Expected positive price development in the following days, possible breakout above the ~4400 level (neckline of the reversed H&S pattern, that we see forming since over a month)
BTCUSD: Larger Picture shows symm. Triangle formationLooking at the larger picture of the BTC/USD price-breakdown one can see a symmetrical Triangle formation (all time frames).
Trading range is narrowing
Volume gets increasingly lower from Nov 15 to now.
Apex of the Triangle to be reached around Jan 1st, 2019
Breakout direction cannot be ascertained, though a continuation of trend is common for this chart pattern and that would mean headin' south...
Bitcoin: Macro Trendcorn looks bearish to me. consistent lower highs. could argue the last weekly was higher than two weekly candles ago, but that isn't convincing in light of the macro trend.
3k was front run, but it won't get front run on the retest. whales took profit in the 4ks and are sending the corn down another leg.
1.8k seems likely.
BITCOIN - Technically a Perfect BUY Setup Around $3,530-$3,635!!Hey followers and other TradingView users.
Do not forget to hit the like if You appreciate my work after You read it!
During this rally upwards, the price has made important higher highs on the price action structure. It has made short-term HH's & HL's and higher timeframe HH's.
We fought heavily with the $4,000 level. Multiple attempts to break higher than $4,100 and lower than $4,000. We got bearish signs from the higher timeframes and the price did a breakout downwards from the triangle and it got a candle close below the $4,000. This move guides the price downwards around $3,760, currently, we can say that this is short-term higher low but I think we might see a bounce downwards from the current level at $3,900.
This area just below the $4,000 is very strong . Like I said before we had several attempts to break lower than $4,000 but the price got rejections from $3,950. Now, when the price is lower than this level then it starts to work as a resistance - just a simple role reversal.
If it finds resistance from the current area (around $3,900-$3,950) then there would be perfect right and left shoulders on the bearish chart pattern called "Head & Shoulders". This pattern will guide us to the major bounce area around the blue area (green circle). The price range for that bounce area would be between $3,530-$3,635.
The bounce area is a well known strong area, statistic wise 20 attempts to break through and only 2 of them were successful. Now I think if we reach into this area we will see a bounce if something strange doesn't happen at the same time.
The bounce area criteria at $3,530-$3,635:
1 . The trend is Your friend and the short-term trend is bullish so, we would like to search some bullish setups.
2 . The super strong price level starts to work as strong support (blue area)
3 . ABC throwback would be perfect endpoint from the top to make another leg upwards.
4 . Different FIB levels inside the green circle and yes, the golden ratio 62% retracement level is also on the circle.
5 . In my opinion, one of the best Harmonic chart pattern Chypher (which will be easily a continuation pattern) endpoint is on the circle!
6 . Different timeframe EMA's should act as support levels.
7 . If we got a rejection from the mentioned area and this setup ends with a bullish candlestick pattern , then it would be seventh confirmation!
Currently, we got just an hour ago a little pump upwards with the altcoins support but still, I believe, if You want to get a perfect entry point I would suggest to watch this area!
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*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Previous Idea Post:
BTC-USD not out of the woods. Strong downward channel still hereI believe BTC-USD is not out of the woods. Strong downward channel still in place. Latest rally would have to intensify and lift BTC price above ~4500 USD/BTC in the following days. If not I think the larger trend will kick in again and bring BTC down below 2000 USD in the next month to come...
Bearish Divergence also visible on the RSI
BTCUSD: Update on the Great Wall of Bitcoin crumpling. The arrow of blood is nearly fullfilled. As it is nearing the first target of 2700, the waves are finishing with satisfiable closings. What does this mean?
Possible some time to breathe for the friends of BTC ahead, with room to 6500. But only one possibility. The other: Any acceleration under 2700 and we are most likely in the endgame already, with no time left to distribute.
Summary: Could be friendlier up to six months, but next target ist still two digits. And could be endgame already. Sorry.
Another symmetric Triangle close imminent for BTCUSD on the 2hAnother symmetric Triangle close is imminent for BTCUSD on the 2h-chart. I expect the break-out to be on the downside, the symmetric triangle being a continuation pattern.
Next accumulation territory: ~3000 USD/BTC
Pattern should resolve within the next 24-36 hs
cheers
BTC Price Prediction based on Fibonnaci Retracement Comparison I compared the current BTC-USD price retracement (Fibonnaci levels from top to low for the respective bubble cycle) to the last bull- / bear-run of BTC-USD in 2013/14.
Back then price went well below the 0,236 level until finding a bottom and retaking it's ascent. Current price just dipped below that level again recently.
Judged by this comparison we would have a little more to go...
Price target: 2000 - 3000 USD/BTC
When: January 2019 ?
BTCUSD price movement scenariosBTC price movement has 4 clear scenarios of further development. Probabilities of these scenarios are not equal. Taking into account current Technical and Fundamental analyses findings we can say the positive scenario has a greater probability to take place.
DMI shows a small standard deviation, while PPO reveals no divergence, Stoch RSI is neutral and trade volume is relatively low. Fundamental side is neutral too, there was a meeting of US congress with Dr. Doom. Topic was criticism of cryptocurrencies and Blockchain technology. As a result the price of Bitcoin fell down but quickly recovered to the triangle upper edge.
Taking into account all historical and current information we developed 4 scenarios:
The first scenario
Price will move down along with the upper edge of the descending triangle pattern which is drawn on the chart till it reached the orange line (lower edge of the small triangle) around $6 055
Then the price will bounce upward and break through $6 500 resistance which will start an impulse growth with a subsequent breakthrough $6 850 resistance level. Here we can see $7 000+ prices.
Probability of this scenario is 20% as it highly depends on trade volume and consolidation after the 1st breakthrough
The second scenario
The price moves alongside the upper edge of the triangle as it does in the 1st scenario, but after it breaks through the resistance of $6 500 we will see a corrective pullback and consolidation around $6 200. From this point we will see a bounce and further rise to $6 550 level.
Probability of this scenario is the highest among all and equals 60%.
The third scenario
The price will move alongside the upper edge of the small triangle as in the previous scenarios. However it won't bounce from the orange line and will breakdown and start to move in the range of the bigger triangle bouncing from its edges. In the end we expect a breakthrough from $5 000 level to $5 850.
Probability of this scenario is 15% as there is no fundamental and technical background for such price movement, however it can occur due to manipulations.
The fourth scenario
This is a deadly scenario for Bitcoin which we should always take into account. The price will reach the end of the bigger triangle and will sharply go down to the 2-3 years minimum. This will start a depression and stagnation of BTC and crypto.
The probability of such negative scenario is 5%
We think the most likely the price will follow the 2nd scenario and after the bounce we will see a small corrective pull back for price consolidation. It is a good time to trade Alts. According to BTC investments you should wait a little bit before open large long term positions
QSPBTC Impulsive breakthroughAt the 1-day timeframe chart we can see the price of QSP which was in the down trend for a long time and reached Fib 1 retracement level. Up from this level the price made a bounce and impulsive breakthrough out of the channel has happened due to sudden BTC recovering. Moreover the price penetrated and moved out of the red Ichimoku clouds zone. Now Ichi acts like a strong support so the price won't consolidate down after the recent growth.
We expect a small consolidation to our buying zone and trend reverse according to EMA (20, 40, 55). Indicators are bullish and trade volume grows, while Stoch RSI remains neutral
We recommend this coin in the medium term, this signal was posted in the Premium channel only, so no free targets are available and you bear all the risks linked to self trading. Stay tuned!
Sincerely,
SkyRock Signals team