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BTCUSD Bulls vs Bears. Who's going to winAs it was predicted by our team the price went out of triangle around 23 th March. We expected further growth till Fib 0.618 resistance level, which should be followed by a consolidation and correction wave. In case of completion of this scenario there should be inverse head and shoulders pattern and further growth. However, volume decreased and bears were stronger, the pattern was broken. Currently there are 2 possible scenarios: 1. Psychological support level will be broken, Bollinger Bands contraction will lead to the sharp decline and price will move to the triangle again, Stoch RSI status supports this scenario. However it will be the last time because the price reached a right vertex of the triangle. Most likely that the price will break it upward again and there should be a huge volume increase which will bring the price up. So there are possibilities to short BTC 2. Psychological support level will hold the pressure and Bollinger Bands contraction will lead to significant rise till Fib 0.618 where a consolidation will start which will finish a new inverse H&S pattern. In case of this scenario BTC will reach Fib 0.5 which is around $12 600. Conclusion: Probabilities of scenarios are 60% and 40%, moreover we have already opened a long position, that is why we are neutral to these movements and we are going to hold BTC. Our recommendation: If you like risk and have BTC try to short it, but if you are a risk averse person just hold If you wait till the good moment to enter then just wait till uncertainty will end and the descending triangle which like a magnet pulls the price will be passed. Alt trades are risky now, so be careful, when there will be good trade opportunities we will provide you with profitable signals.
BITFINEX:BTCUSD
by Skyrexio
Very big bottle of Heads & ShouldersI have lost my drawing tablet pen in a recent trip, so until I receive a new one I can only do crappy drawings with the trackpad. But I wanted to get my idea across somehow. Not the end of the world, but no-one likes dandruff right? BTC couldn´t bear it anymore so she went to ABC Mall and got a huge bottle of H&S, The thing had been kept consolidating in her shoulders, and this product should have been the perfect correction to the problem, but guess what? It didn´t work. Now she feels so naive. She realises that the reason why she purchased this is because she saw an advert on TV by one of those so called hair gurus and anal-stylists that claim to have the solution to your problems. She called ABC to complain about the failure. They said that she should invert the H6S before using, that will make it work they said. Bullshit she said. She had already paid for it so tried it anyway. The bottle broke out from the top when she inverted and pressed it, so she turned it around again and then it broke up from the bottom!, WTF! what a mess, there is H&S everywhere! there are a lot more Head & Shoulders inside a head & Shoulders that she would have never thought. there are even H&S inside the H&S that are inside the Head & Shoulders! but still doesn´t work, fractal shit!
BITFINEX:BTCUSDLong
by Bitconiano
1
BTCUSD What will happen next ?A whale purse sold 10.000 BTC yesterday and the price fell dramatically. You can track his activity here: bitinfocharts.com However it was expected that something would happen as soon as Bollinger Bands contracted close to each other. We faced with a dump. The price managed to consolidate a little below Fib 0.786 support level and now it is resistance. Probably it is the most important week in the BTC history as it is going to break the Triangle which was formed due to the largest crypto market crisis. If BTC price breaks the Triangle down for a very long time we will have BTC price around $5000 If BTC price breaks the Triangle upward it will quickly recovers to the previous heights. We think it will manage to go upward from the Triangle and there are several reasons for this: 1. Bullish XABCD pattern has just been formed 2. Stoch RSI and MACD confirms possibilities of growth 3. From the yesterday's dump price consolidated and is growing slowly However there are still some threats: 1. The price is at the edge of the lower Bollinger line. If it breaks down of it then the trend will be descending again. 2. Red line of ichi cloud is above green line which means there is a strong resistance 3. The price is below Fib 0.786 resistance level Conclusion: If the price manages to break Fib 0.786 resistance level which is around $8350 then we will have ascending movement. Combining it with the Bollinger bands indicator means that the price will move from the lower edge to the upper edge of the channel, hence it will head to $11900. This will break the Triangle upward and bring a new wave of growth.
BITFINEX:BTCUSD
by Skyrexio
10
BTC Taking A Tumble... But Perhaps For Not Too Long!Apologies Folks.. This is what I wrote to two of my friends about 3 hours ago, and I was going to post it here, but BTC just kinda beat me to it.. :-) So this is the scenario playing out right now.. This is what I wrote about 3 hours ago, give or take a little... "Remember this is most likely just the retracement dip after the initial breakout from the upper resistance line in the downtrend channel. If the green $10,500 support line holds, then this may just be the start of a new longer term uptrend channel. Remember it broke through major resistance, then came back down as it always does, hunting for that resistance (now turned support). The only reason it didn't go all the way to $9,800 yet was because of the strong support at $10,400 - $10,500. So if that line holds, price will very likely start rising again, and initiate a new uptrend. If it doesn't hold, then $9,700 will be the next target down, from where it will then definitely start it's new longer term trend upwards" So there it is folks.. my very quick analysis - BTC a little quicker though.. but in the end it played out almost exactly as was expected. On my Chart, the lowest point hit was at about 9,458.00. If the support line holds where it is now, the slow trend upwards should start. Please, this is not trading advice, just my thoughts on the current price action of BTC - Please always do your own research and make wise decisions when trading. Cheers everyone! Hope your day was profitable!
COINBASE:BTCUSDLong
by Jaco-Snyman