Get started

Btctrading

Bitcoin about to surge up, retracement before going long!BITFINEX:BTCUSD Past Trend Bitcoin has finally passed through the bearish market and is now in the clear for a bull run, the entire crypto market as of now is seeing green across the board for the second time within a 7 day time frame. Bitcoin has also crossed all 3 moving average time frames that which I typically use (25,50 & 100 periods). This is all extremely positive indications for Bitcoin - indicating that the bearish run from the highs of 24th July 2018 has finally ended and that it is time to start looking for long positions in the market. Price Targets We should be looking for Bitcoin to retrace to the ~$6400 range before entering a long position for the ride up to the next Fibonacci level ($7260), a solid 11.52% from the intended entry level of $6479.9. Do keep in mind that resistance will be encountered on the wave up at the $6794.4 range (indicated by the red rectangle). RSI RSI is currently sitting at the 67.59 mark - right below the overbought level. Thus validating the retracement to the ~$6400 levels before our 5th wave up to the intended price target of $7260. We can also suspect that RSI levels might bounce off the RSI high of July 17th 2018 (4 Hour chart) when heading into wave 5. Wedge Price broke out of the wedge to the resistance levels of $6794.4 and we should expect there to be some resistance continuing forward in the market. Price could retrace back within the wedge before making another attempt on the ceiling, before breaking up toward the ~$7200 range. Momentum As of now, Trix is looking highly favourable for a long position having all four averages having crossed the baseline into an uptrend momentum range. Keep in mind the wedge surrounding the averages, having formed from the low of 18th August 2018. We can expect momentum to slow down temporarily over the next 2 days whilst ramping up to take out resistance at the ~$6800 level. Elliott Waves Price action has completed wave 3 within the past 4 hours and we should expect wave 4 back down to the ~$6400 range over the next 2 days before continuing back upward. Wave 5 should take us to the $7260 mark before retracement and sideways movement in an ABC pattern. Things to keep in mind Price could continue moving up (then wait for next retracement down before entering position). Otherwise Entry - $6470 Price Target 1 - $6794.40 | %4.37 | (Fibonacci level 1) Price Target 2 - $7260 | %11.57 | (Fibonacci level 2) Overview Bitcoin looks like it's about to embark on its bullish run for the first time in a month, which could be the beginning of the way back to $20,000 (fingers crossed). Look to enter after the retracement, either when it is back down to the ~$6400 range, or after it has moved up further and retraced (unlikely). ------------------------------------------------------------------------------------ ElNOIV
BITFINEX:BTCUSDLong
by NOIV
BTC- Go ZoneHello cryptobabies, welcome to today's amazing analysis. The correction came in at a low of 8659. I had limit orders set at 8659 with two different exchanges and am sitting nicely. The descending wedge broke out and BTC has now definitely finished retracing the 4th wave and as planned in 5th wave right now. As you can see the 5th wave will itself comprise five 2 smaller subsets of waves. On the 15 min chart we have subwave 3 ending at the conservative side of the 1:1 Fib level. The confidence in getting to $10k sits with the stability and progress of the Elliott waves. If the posted high for the 3rd subwave surpasses the $9500 then an even more optimistic target can be assumed. BTC is currently in a textbook rally and bulls are gaining traction in market cap volumes and trade. Getting in at any price under $10k will soon become the motive to buy more BTC and so on. If have seen a few alternative bear analyses but its all fluff and always sitting in a no trade zone. Anyways good luck with it all out there, and take care.
BITFINEX:BTCUSDLong
by UnknownUnicorn2742699
1
BTC - Busting down the doorHello cryptoheads, whats up? I told you I would call back when the correction is near complete so here we are. The wave count has come in text book style with nice symmetry and evenly spaced pivots. As expected the correction will not be deep and is hovering the .382 Fib line. We are still waiting for a fifth and final subwave down to complete the wave series and the descending triangle. Once complete we should see a breakout on the upside and on the path to $10000. There is no mistake there will be a fifth wave up. On the whole being conservative I would say BTC will be testing 75% of the ATH price by end of june. There are many bullish aspects to the market and it will continue to recover.
BITFINEX:BTCUSDLong
by UnknownUnicorn2742699
5
BTC it not as bad as it looks.....the only way is upBTC First let me start by saying that some dire warnings made by so called experts are just nonsense and there is nothing technically that should warrant doomsday predictions. Yes the market is downtrending and coming up to some critical levels but they are normal cycles. BTC is a pure fintech product dynamically existing in the market. The 5 wave count up to $10000 is actuallystill in play. We are still in wave C and correction of wave 1 and its looking like there is some support at $7800 and a C wave will normally will hit the 1.618 fib level sitting at $7600. The problem here is while it should support if it shatters through then there is little support until we get to $6000. I think it is not probable as BTC does not let you buy at the very low twice in a matter of 2 months. There are 2 possibilities from and here they are. Firstly the bullish scenario....Wave C will not extend and be exhausted at the $7600-$7800 zone. The more it acts as a support and keeps touching as time goes the more likely it will bounce as the bears will have tested it and run out of steam. We are sitting on the golden pocket zone of (.65) of wave 1 and usually acts as a support for the Wave 2 retracement. A move up to $8500 (61.8 fib) will confirm Wave 3 of the primary wave count is forming. If there is a doji on the current 4hr a possible reversal can occur. Also a break above the channel is a positive move upwards. Secondly the bearish scenario, the levels hit the purple line and Wave C extends shattering through to the yellow long established support line which we have to respect. However, it gets to the yellow support line watch for a bounce or further drops to the next support at $6000 are possible. This can move quickly and if it hits the bearish zones and drops the bounce will also be quick so I suggest you make your mind up if you want to buy the dip and set some auto buys. Chins up and happy trading.
BITFINEX:BTCUSD
by premiergeorge
BTCUSD - Bitcoin Forecast - Bitcoin Boy Bull Wonder!?Looking towards the indicators there is a change in the momentum, in favour of the bulls, lets take a look at the 1hr chart. The 1hr chart is speaking of bullish wonders, we can see a nice little bull flag formed, momentum show us that the bulls are regaining control and we have just ticked into the positive zone. It is however IMPORTANT to remember that we are still in a bearish market, any buys at these prices will be attempting to call a bottom, and should be considered HIGH RISK. The safer buy will always be once the market has confirmed that the bear trend has ended, however lower risk, lower reward. With all that said the market is looking healthy and unless we are faced with some FUD or a Tether collapse, we should keep ticking higher until we test the top of the trend channel again. Feel free to discuss my trade ideas with me on Discord . Safe trades.
BITFINEX:BTCUSD
by saintbitcoin
Bitcoin BEARS still in control - How low will she go?Hello friends, Bitcoin didn’t waste any time confirming my previous analysis. Prices pushed pass $8400 and quickly rose, however the price action was no good and we quickly retested $8400. This does not come as a big surprise as we know the 1week candles still show massive bearish pressure on the market, as well as the confirmation of the longer term down trend line. The bulls did a good job, but as we can clearly see there is more work to be done. The support at $8000 is failing now and at $7800 we will see the newb traders selling their $8400+ bags at a loss on the way down. Remember that the trend is our friend and we will trade accordingly. I thought we had a nice diamond bottom forming and a good chance of a reversal. However my support zones didn’t hold and it shows that the bulls are in for another beating. Support is around $6000 for me on this drop, but I will keep some dry powder for the $4000 – $5000 zones, longer term speaking. Lets be patient and see what the market does. We have a massive bullish divergence on the longer term chart, which will cause a massive price surge to the moon side. This could be anytime from now till April by my best guess. Feel free to come and ask our advice on Discord . Safe trades.
BITFINEX:BTCUSDShort
by saintbitcoin