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Why And How Bitcoin Can Form A Second H-S-Fractal-Formation!Hi my friends, Welcome to this analysis where we are looking at Bitcoins 1-hour timeframe perspective, as already mentioned previously Bitcoin has already completed this major head-shoulder-formation with the ongoing conclusions and as I detected now Bitcoin has the possibility to form an other major formation here which will similar outcomes when completed, therefore I detected all the important levels and likely perspectives ahead. When looking at my chart we can watch there Bitcoin currently already begins with similar price-action as we have seen it within the first head-shoulder-formation, besides that Bitcoin found some marginal support within the structure and as you can watch in my chart this second neckline has already built with the left shoulder developed, the next times we can expect some further up moves here which will run directly into the strong upper-resistance determined by the neckline and also the EMAs lying there, taking this into consideration it will likely be the origin of both the head as well as the right shoulder which when completed can also finalize this whole second decisive head-shoulder-formation here, this will show up when Bitcoin moves below the trendline with a decisive move and when such move happens we will see a protracted bearishness to the downside visiting mainly lower levels ahead. It is crucial to take note that the bearish movements may not even fully be developed yet even when the market somewhat seems to recover within the structure, in this case, the second head-shoulder-formation will be the leading source for further developments and where the journey is moving, it is important to be prepared on such changes in the near future and upcoming perspectives to not trade unsatisfying trades. In this manner, thank you for watching the analysis, have a great day and weekend, all the best! "There are many roads to prosperity but one must be taken." Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
12
#tadoesntworkwe dip, i buy. not much magic to it. here's a level, though, i'm really interested in. ofc this might tank further down to 8k, but perfect entries like that are rarely ever given. we've made it through a devastating bear market, with vicious dips and crazy pumps .. the weak hands aren't in the majority at this point. there's not many left to shake out. holders will hold. at this point i think it's fair to assume a coming long term uptrend. ofc bulls will need to prove some balls here and it wont be a straight run up, but i'm happy to stack up here for the long term.
COINBASE:BTCUSDLong
by Kewwvo
1
Sometimes we make things too complicated so just KIS!Frequently when looking at setups, charts, patterns, vertical and horizontal lines we forget to KEEP IT SIMPLE. Here we only look at the 50 period SMA, that's all. It's a very good predictor of how prices will move but is often overlooked. Price has clearly fallen below it BUT look at the action....it's very similar to what happened in February and twice in April: Peak -------> controlled dump ------> sideways action -------> secondary smaller dump (apart from 2nd time in April) -------> price goes up. In Feb sideways action lasted for almost 2 weeks while in April it was 5 days each time. I still think that price will go lower from here but will we break the neckline of the H&S pattern? If we do then the SMA will head south and that will be very very bearish. Next stop for BTC will be 6100 to 6300, then mid 5000's. Ofcourse this scenario can play out and there is evidence to support this (market is overbought, momentum is heading south, very low level of shorts, massive price increase in a short period of time etc). If prices managed to climb up from this level reach and maintain 7500 then this would invalidate the H&S pattern and we would get above the SMA which would be very very bullish. I remember back in January when we had an inverse H&S pattern at the 4200 level and everyone was screaming buy only for prices to fall back towards the low 3000's. Frequently in crypto these 'obvious' set ups get invalidated very violently. Afterall we are in an uptrend, many missed out the price action over the last few weeks and are getting itchy trading fingers etc. If we treat these three past events as a guideline for what's next then we can expect a few more days of sideways action, a little dump towards the neckline then a steady increase in prices towards the SMA followed by a very strong move up towards our resistance zone of low 8000's. Whichever way it plays out it will be a very interesting week.
COINBASE:BTCUSD
by Crypto-GT
Storage of value is a funny thing. It tends to drop like tank!Just my take on storage of value. The differences are interesting. It looks like we are more of Silver than of GOLD. Relative to crashes, but can we actually compare these. It seems the storage of value is moving into Metals and not digits. I could be wrong, but this does tell a grim picture for BTC, not for Blockchain but for BTC. It is going to take Lighting or ETF or god knows what, to push us out of this descending channel Good luck everyone ;) **LEGENDS** BLUE = Bear/Resistance Yellow = Bull/ Support ~Explore the chart for possible scenarios of price actions - use zoom and scroll for better view.~ /*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/ If you want your coin to be analyzed, JUST ask. If you got a question, ASK away! And please keep those Stop losses in place! Fractal dates are moments of interest, where price and time collide to create oscillation - vertical lines! Thank you, Ajion
TVC:GOLDLong
by Ajion
Why I Shorted BTC? 3 reasons No1. You can see chart is showing lower low and lower high, which says us price is in clear down trend. So in down trend going short is safer than going long. No2. We can see downward parallel channel. And now price is touching high of the channel. The high probability is price can move within this channel. To move in this channel price has to drop. No3. I have shown a black color arrow mark, If you zoomed in the chart you can see. When I compare the price movement to the RSI levels it shows Divergence is forming. So Price can go down. This is the 3 reasons thats why I going short in BTC. If you agree with me hit like and follow me for future updates. You can show your thoughts about this by commenting.
Short
by laxmansuresh619
2
Bakkt might launch physically-delivered Bitcoin futuresAccording to anonymous source, next week Bakkt could get approval to launch its physically-delivered Bitcoin futures product from U.S. Bakkt is an Intercontinental Exchange platform, seeking to create a “regulated ecosystem” for institutional investors. If regulators will approve the project, Bakkt will start launching Bitcoin (USD) daily futures contract for clients. However, going back to December 2017, non-physical Bitcoin futures were launched from CBOE and CME Group. We all know the result; high volatility combined with a very poor performance. Currently it is only can be speculated on the Bitcoin price action that might take place next week. But even though it's only a prediction, the Bitcoin short term future looks bright from the technical point of view. Today BTC/USD has spiked down, hitting the daily low at $6462. There are few important points that are worth paying attention to: Price rejected the 88.6% Fibonacci retracement level Even upon the heavy trade volume BTC failed to close below the descending channel RSI oscillator broke above the downtrend trend line After hitting today’s low, BTC/USD already recovered by 1.55% and currently trading near $6570. Throughout this week, BTC traded around the $6570 area. But today after establishing the low, this became a strong Fibonacci resistance level. At this point trend doesn’t look to be bearish, as the support was rejected. But at the same time it remains below the resistance, which does not suggest a bullish scenario. If BTC to go higher, the $6570 resistance must be broken. The next upside resistance is located at $6630 area, which is also confirmed by two Fibonacci retracement levels. The final resistance is at 61.8% Fibs that is at $6730, and it seems that only upon the break above that price, BTC/USD could start establishing a medium-term uptrend. As of yet, it is a downtrend and BTC certainly remains under selling pressure.But, watching the nearest resistance level should help to understand the short-term bitcoin direction. Support: $6464 Resistance: $6570 $6630 6730
BITFINEX:BTCUSD
by CryptalDash
2
Viacoin MAN gets drunk againViacoin MAN got drunk and saw some quick lines again and charted them out, then set a new one to see if it sets a trend or acts as a resistance to break out He fit it into his narrative pretty well Viacoin MAN thinks that we will have a somewhat similar pattern to what he posted. Viacoin MAN doesnt know how he feels about saying this but he thinks his chart is saying around $6600 for CBOE futures exp and Bitmex expiring around $6300. The orange dotted line is the next extrapolation. Viacoin MAN uses dotted lines for fortune telling. Viacoin MAN uses this chart to illustrate that the bear market is ending that that there is little room for price movement forcing resistances to become supports(ie bullish) Viacoin MAN looks for where the trend lines intersect. He strongly believes in his rocket pocket and hitting around 8k soon.
BITFINEX:BTCUSDLong
by ViacoinMAN
BTCUSD NUMEROLOGY for FoolsI'v had many good fitting fractals these last few months, most of which I never shared because I believe the greater the number of people that believe something the less likely it is to happen (although the number of people that view my ideas is paltry, still I'm secretive anyway). Although none of this mattered because just when we approached breakout, the fractals would always fail. I know now that the psychology of the market is such that whenever a breakout opportunity is presented, the herd will back away. Fear is still very strong and they are only too willing to rationalise their fear with TA and assorted bullshit. For this reason, I am no longer hopeful that a breakout to 10k and consolidation above the 200 daily MA will occur in 2018. I had hoped we would accumulate there for some months, but this seems unlikely to me now. I would be extremely happy to be proven wrong here though! Now I have three possible scenarios in mind. We go sideways until Q4 where we begin a move upward. This scenario maintains the 7 year exponential trend (see chart below). We fall to around 4900 without breaking the trend and bounce and pull a move similar to April 2013 (see chart below) We break the trend and form a bottom around 4000k. This is the carbon copy of 2014 scenario (which will exemplify just how people have no imagination and simply want to copy the success of other people: lol it worked for them right). Unfortunately this will break a long-term uptrend and for me personally I do not envisage a new ATH after this. (see main chart) THE NUMEROLOGY BIT Just for fun I thought I'd show how easy it is to see patterns where they are probably none. Those levels in the main chart correspond to tops and bottoms. Well, turns out they are all powers of 2. Interesting as Bitcoin is all about computer networks in fact bitcoin is all about BITS . from wikipedia "Two to the power of n, written as 2^n, is the number of ways the bits in a binary word of length n can be arranged" (en.wikipedia.org). WOW that must have some super esoteric conspiracy theory relevance!!!! MAN! Human beings look for patterns. It's what evolution has programmed us to do. We are biological pattern recognition self-learning machines. In a highly non-linear world, it's no wonder we get confused sometime.
BNC:BLX
by RealMcafee
7