BTCUSD-TRADE
BTCUSD FALLING good time to place small shortsShowing decreased volume and a downtrend with wild ups and downs. If your leveraging be careful and plan plenty of safety buys
BTC 1-3 day tradeBTC is showing exhaustion signals on multiple time frames. I have closed all longs and opened a short near this level. Stops are tight on this one.
Targeting the 12hr 20MA and previous S/R from the symmetrical triangle formed during most of 2018 - currently both are around 7600-7800
Open interest has gone flat and started to decline on the price rise. MACD showing a coming change in momentum. sRSI crossed below 80 after being above with RSI above 80 and crossing back below too. 1hr about to give us a bearish MA cross with price below.
Shorts up to 8300. Stops at a comfortable distance.
This is a short term position and I expect BTC to remain bullish on the daily for now.
12hr:
Bitcoin: BTCUSD Bitcoin Trade Set-Ups from HereBitcoin Bitmex Chart Update XBT
After 36 hours of consolidation Bitcoin has held above the key 7265 level after a spike low at 7243 on this feed and since
then has survived a couple more retests. It's not ready to fall away yet therefore.
Looks as if it will make another attempt to touch 7615 and maybe spike into the uppermost parallel again as yesterday -
this would take it to the the next line of resistance at 7675 at best before it comes off again - unless we see volume rising
fast again at that point.
On Bitmex feed it's still effectively stuck in the range bounded by three lines of important resistance at 7615 and 7683 and
7741 and one line of support at 7265, which now needs extending to cover the spike low.
Whilst inside the range it looks like scalping opportunities at best for now.
Buy on dips towards the 7355 nearest support line with stops just under 7350 looks to be the best option for those looking
to trade this inside the range from here.
For others, an eventual break either side of the range should be worth following more aggressively.
Has to break above 7750 on high volume to follow long looking for 8600.
And on the downside has to break below 7240 on rising volumes for next good shorting opportunity, looking for a
retest if 6819-6792 range where it should bounce again if tested.
But until then it looks like scalping opportunities inside the range.
For more active traders: For Bitcoin updates in real-time please see link at top left of main page
For Continuity: 18th July - Bitcoin Chart Updates
(For all updates since last Bitcoin Update on Tv a month ago can be checked via link at top left of main page)
This is a long update - you can skip most of the BS below by scrolling down to the final paragraph.
We're at a tricky point, or getting very close to it now. So have tried to give reasoning as best as possible below.
Futures
Bitcoin held up just above the 7266 support/stop line and then pushed nearly 300 points higher still to a 7560 high overnight before falling away again.
The upside target on this feed remains the 7615-7756 range but must admit to not really liking the pattern it's making right now however - am thinking of raising the stop to 7419 - which may well get taken. Otherwise stop has to remain under the 7266 line here, as overnight.
Looking for clues to the next move from here.
It looks like a grind higher so far, rather than another big volume green candle about to come. Keeping an eye on the volume itself will help to confirm or negate this.
Without it Bitcoin still stands a chance of spiking to the 7615 line in the nearterm but is likely to come off again if it makes it there - unless volume is rising very fast underneath it.
So upside is 180 or so points probably in the near term and downside is 180 or so to 7266.
So as risk/reward ratio is now only 'evens' either side, staying with this long is slowly turning into an act of bravery and defiance over mere calculation at this point in the game.
So caution is warranted again here.
To add to overhead resistance there's a spooky set of upper parallels forming at the highs overnight.
Was thinking these were a case of pareidolia - the invisible spectre that sits at all TA's tables alongside them.
It's bad enough to see things that aren't really there without spreading them around others. It's like spreading a virus ! Who needs it?
(Unless it's a pattern spotted that warrants further investigation via the chat room - which is what we're all here for in the end, presumably.)
Anyway, these two upper parallels do look as if they are in play now and are holding back rally attempts quite effectively so far.
The volume on Tether is showing roughly half the volume bar to left of chart, the start of the last decent counter rally.
It implies that the rally is running out of upside interest from here.
For more please check the link
BTC Is it bullish again?BTC pushed through resistance at 6800-6900 with volume support. Next major resistance is the downtrend slope from January 2018. The bearish trend resistance coincides with a Horizontal Resistance in the 7700-7800 range. If price can close above and consolidate above the bearish trend, we could see an attempt to make the first higher high this year. Bulls would need to close a daily candle above 10k for a higher high though, and that is several weeks away if it happens at all.
Oscillators are all bullish, but over extended and showing a retrace/consolidation is necessary before continued upward movement. Price tapped the bottom of the Daily kumo. Look for price to stay above the 4hr and/or 6hr kumos to remain bullish. The 5/20 MA has crossed bullish across every time frame, so I am comfortable adding to my long position on dips unless they cross back over on the daily. If price breaks back below 6400 I would exit my positions and look for the market to show a clearer signal.
I will short the resistance, though I am hopeful it will break. There has been increasing, and now significant buy volume on the rise over the past few days, and now the currently daily candle has the greatest volume over the last 22 days, possibly even longer after the daily close in 4 hours.
I collected 50% of the profit on my Long at 7280, And have placed long orders in the marked areas (green) to refill.
Daily w/ Kumo:
Daily:
Hourly:
BTC in depth analysis
Multi-Timeframe BTC Analysis
3 Day:
We are still in a bearish trend. Nothing has changed there. Broke the symmetrical triangle, and have potentially formed a descending wedge (invalid if price closes below the support - lower red line)
Bounces do occur in bearish trends and we have created two points of descending price action (lower highs) on BTC over the past 5 months that are used to draw a ray and show the trend resistance (upper teal line). Ichi Kijun resistance and downtrend resistance are currently in the same area around $7900. Broken Symmetrical triangle support, now resistance, and downtrend resistance converge at $7500.
CMF shows that money is still flowing out of BTC, we have not managed to break into a positive money flow yet. Flow is negative for the first time since June 2016.
Volume is still decreasing overall - it would be more bearish if it was increasing with the price decline.
RSI and Stoch RSI show that we are getting a bounce, and could see another 1-2 weeks of a dead cat bounce.
Failure to hold the descending wedge pattern will likely result in a return to the long term slow bullish trend (Purple support line from bullish trend starting March 2017 ), which we could test anywhere between $4900-5300 before September. This would put all September futures Longs underwater and create strong selling pressure as those longs are forced to cover.
Long term view with breakers (OBs/magic-rectangles) marked (green). Long term bullish trend supports Marked (lower purple lines) - some of these lower trends are where people are getting the 1-2k predictions from:
Expect price to interact with these levels and look to these areas for opening larger positions.
The 5300 area mentioned above has several converging supports and I expect it to hold. If it does not, There are no real trend supports before 2k, but there are previous highs/lows (4750 and 4400 for example) which may act as support and a significant bullish OB in the 3500-4100 range which I doubt we would break below.
Price levels this low would likely shake out anyone who purchased in the second half of last year.
Long term view - Shows box with Volume gaps and previous price action at top and bottom of that level. This is useful because price will often find support at the top or bottom of these volume gaps, but quickly move through them as it has in the past:
------
BTCUSD Key Levels SaturdaySaturday 14:11 gmt 11:11est Bitcoin Bitmex Chart Update: Key Levels Saturday
Back to Black - cannot see wicks as clearly on white background :(
Yesterday's price action was tricky to say the least. Lost 5 points on the first short and then another 15 on a long above
6545 before at last capturing 140 or so points on the final short from 6535 to 6395 overnight. Hard hard work to net just
100 or so points after costs. Sometimes it's hard and sometimes it's surprisingly easy (like last weekend's 740 point
win) - the important point is to limit losses when the call goes wrong whenever possible.
Since then Bitcoin has made an overnight low at 6387 before counter-rallying within a continuation pattern that's been
running for 11 hours now since the midnight gmt/19:00 est low.
It's a sell once the lower parallel of the pattern is broken but the first support line is close by at 6428 and this may create
another mild bounce.
It's a slow and tricky market right now and although it should fall away more on lack of interest it's hard to be gung-ho right
now about downside - but a break below the 6428 line which it is now close to testing should flip it back into bear hands
again back to 6370 - but will need a volume spike from here to trigger a bigger decline back to 6317 and then 6236.
Be careful with stops and if no volume comes in at 6370 move stop close behind it rather than hoping. These are thin and treacherous conditions as we saw yesterday. The best we can hope for is scalps most likely.
Looking at upside from here, have no real interest in buying right now until we get a better signal.
*For updates in real-time please check link at top-left of main page.
BTCUSD BEARS OR BULLS! WAS 20K JUST PRE CUM??Good morning all,
Yesterday I posted a possible scenario I can see Bitcoin following. I am just following up on that scenario and a potential for a second scenario to play out.
Yesterday it looked like we could have broke through the bear flag at the $6600 resistance level but we didn't have enough momentum to keep us above that area.
Ideally right now I would like to see us bounce off of the lower trend line support and move upwards towards the top of the channel to our next resistance around the $6800.
If we can break above the $6800 resistance level with confirmation then we could potentially move upwards towards our next resistance area at $7100.
If we cannot break above the $6800 resistance level then I am expecting a retrace to around the .382 fib level.
If we manage to retrace and hit the .382 fib level than I am anticipating a dead cat bounce to our lower support around the $5800 level.
Another possibility:
We hit the $6600 resistance level yesterday and couldn't break through and are now testing the lower trend line support.
If the lower trend line support breaks we will likely retrace to the $6100 support area before we possibly make a move back upwards.
NOTE:
These are just a couple of POTENTIAL scenarios that I could see playing out. Bitcoin right now is very indecisive and any major news (like the SEC news yesterday) can cause Bitcoin to move in either direction drastically.
This area we are currently in between 7100-5400 is an extremely volatile space and I do not recommend inexperienced traders to trade right now. Its better to sit on the sidelines and wait for confirmation in either direction.
Nobody will be 100% accurate with TA right now, so it is better to look at all the possible scenarios for you to form your own personal opinion.
Do not take any of my scenarios as financial advise.
I hope you all have a wonderful Friday and a good start to your weekend.
Happy trading
mk6dunc
BTCUSD: Trade-Points TodayBitcoin Sunday Update and Trade-Points
The counter-rally high early yesterday morning reached 7678,
just 5 points under the 7683 stop line as Bitcoin spent 24
hours moving sideways before plunging at midnight Gmt/19:00
Est as Japanese markets opened.
US trading volumes have hit new lows, falling from 50% last
year to 35% in April and now under 15% of trades are in
dollars. The American retail buyer may return some day but
for now Bitcoin's fate lies in Japanese and far Eastern hands.
And sure enough, price barely moved all day yesterday until
Tokyo opened at the zero hour. And as soon as it did, Bitcoin
began to fall away again.
So far the low today is 7268, a little below the 7281 support
line on Bitmex but the rally is feeble and unlikely to get far
above 7355-7385 range before falling away further to test the
longer term dynamic which is now at the 7183 level. Any
failure to hold this line during today will force Bitcoin lower
still to 7056-7050 initially and then once this gives way to
6493 where it should attempt to bounce again.
Shorts triggered on the break below 7579 line overnight can
stay short for now looking to close out on the test of the
longer term dynamic at 7183 and ready to enter short again
once 7175 is broken with stops above 7200 looking for a retest
of 7056 on Bitmex next, as above.
BTCUSD Bitcoin: Trade Points Today
11:34 Gmt 06:34 Est Bitcoin Coinbase Update
OK. So a little a break higher to bust out bear stops around
7166 - stop hunters and bots! But at least a little
continuation pattern looks to be forming now giving us break
points either side of the smallest parallels . Only gets
interesting again once we see a break either up or down -
which we can follow with stops under 7166 if the break is
higher, and more likely, above the lower smaller parallel of
the continuation pattern on an eventual break lower.
12:59 Gmt 07:59EstBitcoin Coinbase Update
That was a great break up to the next level at 7431 with spikes
above the line to 7479 here. The rejection spikes are big though.
It needs to unwind under the 7431 line .
But on the bull side now we have the biggest green candle for
ages - nothing to compare in the run down.
This is more than a bear a bear squeeze. It's buying intent as well.
So will be looking to buy again from lower down later
* For up-dates in real-time for more active traders please see link at top-left of main page
BTCUSD: Bitcoin Trade Set-Ups from HereBTCUSD: Bitcoin Trade Set-Ups from Here
The pattern Bitcoin is currently making is treacherous and too
unclear to contemplate a trade at this point.
It looks and feels more manipulated right now than ever - as if
price is being left to run a little higher to stop hunt weak
bears before it gets reeled back in again. It should only get as
far as the upper parallel at around 7578 now at best on
Bitfinex before it falls away again.
To break the downtrend Bitcoin has to find buyers enough to
push back above the uppermost parallel and to hold it on the
retest. It looks unlikely now, but if we see it happen later on
it should be worth following for a potential weekend rally.
But in its absence Bitcoin remains stuck in a down-trend and
the dearth of support coming from US as it opens means it
should fall away again quite soon now from the 7525-7578
range. But even the downside is uncertain at present and it
could be that Bitcoin tries to establish a double bottom
around the 7318-7263 range when it does come off again.
Be careful with the short at this point. Needs volume spike to
arrive to push it lower still from there. If it comes and 7250
gives way it's good to follow short again or add to positions
looking for 7162 in near term and further out a decline in
stages back to 6615-6517 range.
The Bearish correction still continuesin hours charts, the Bitcoin is making a bearish ABC pattern and then it will make a bullish impulse
Final BTC Fall Upon Us?!Student of the game here! Lets get right into thisss!!
Decision time for BTC again.
Comparison from 2014 was at about a 20% drop after the pop(see video) which guides us on a potential buy price now.
Why is this good?
-This lets us test that down trend line that has been going on from the massive December BTC run.
-If we manage to maintain above it then we can start becoming more bullish mid term.
-Short term, I have set a buy range for myself in the video where I can enter safely from the A wave then look to profit at the B wave.
How are your strategies changing from the recent charts?
Are you prepping for the long run yet?
Do you buy into the sudden jump of BTC to cause a bull run or are you waiting to see whales play us again?!
LEAVE THE LIKE! I LIKE THE LIKE! Happy trading :)
BTCUSD Today's Trades from hereBitcoin BTCUSD Today's Updates/Trades
Bitcoin Coinbase Chart Update 09:30gmt 04:30est
Bitcoin made an overnight high at 6893, some 8 points shy of
the first upside target at the upper parallel before falling
away below the rising dynamic which then triggered a short
from current levels around 6844. But in the interim Bitcoin
has spent the night moving sideways in an unusually tight
range between the 6813 support line and the resistance line
just above at 6849.
It's therefore about as neutral as it's ever been in recent
memory. So can close the short is still in position here. It's too
neutral here to hold it really.
It has to break above 6870 to trigger a long with stops below
6840, looking for 6955 line and then 7150-7160 once 6955 is
broken above.
On downside so far Bitcoin is hammering out support above
the stucture sitting below it. Whilst it continues Bitcoin is not
negative and cannot be shorted. It has to move below the
6771 line here and the lower rising parallel to tip it back into
bear territory and to trigger another short back to 6698 line
initially and potentially much lower still.
14:30gmt 09:30est
Raise the stop to 5 below price on this long - the rally is so far
just a 1% pop and has only 30 points of upside left until it's a
sell again - it may get hit and likely will - if so can put a sell
order at 6955 with a stop 10 points higher at least and wait...
14:42gmt 09:42est
Can close out now - was wanting to sell but it's risky - if so put
a stop just 5 above this new high on Coinbase
If it breaks higher than that can get long/reverse with stops
below 6945. Tricky here now
15:46gmt 10:46est
this short is under pressure from stop hunting bots.
Can put a tiny dynamic under price which has a bot-like vibe
as it rises- should start to lose and flip lower once lost - can
short again/addor open fresh short once it does - or from blue
line at 6955 with stop 10 higher - ready to reverse long if hit
(as previous updates)
Bitcoin: BTCUSD Trade Points Thursday Bitcoin Coinbase Update
A wild night of opportunities has unfolded. Once Bitcoin broke
the little channel it was left tracking at around
01:00gmt/20:00est it came back to testthe underside of the
same minor parallel at 6800 before falling away ...right back
down tothe bigger parallel which was forecast to halt all
declines yesterday. It did exactly that in a technically perfect
display of parallel power all day long.
And then, once it breaks free of the parallels holding it down
at the lows it powers back up (long triggered here, ideally)
and then moves between the blue lines of fixed resistance as
it pushes higher.
It's now touched the 6900 next long trigger and should
consolidate here back to 6850 and to the dynamic
underpinning today's rally - has to break that dynamic to
trigger a short from here with stops above the dynamic.
And on upside it now has to break above 6910 and hold up at
6900 on retest to trigger next long with stop 50 or so lower.
Tick Tock on the Bitcoin Clock!Bitcoin everyone wants to know answers where are we headed well thats why Cash Is King is here, we have good news today.
We have loads of support before we see 'chaos' so we can trade some alts make a pocket full of cash then worry about bitcoin later.
Now as you will see we are trading in a channel that has around an $800 range, we have a number of support lines inside this channel, bitcoin movements between the red and green lines isn't going to affect our alts too much. Channel is Green line down to the red.
If we break the top green line we have a very quick trip to $9,600 and alts will shoot up and we will have some green days. Hitting target 1 and 2 in the blue lines here should be quite easy.
Right at the moment though the chart tells us we would be dreaming if that was to happen and the most probable event to take place is to drop to the red line, we may not break this as we have strong support there but if we do we will be on the way to achieving targets in purple, less buyers will be there to catch the fall and this could be the $6K drop we were looking for.
For those of you wanting to trade bitcoin I personally wouldn't trade in this range I would buy the bounce on red line or sell the break of the red line. I would buy the break of the green line and collect profits at targets in blue. I would not trade within the range of Green and Red line, this can take us quite some time and I prefer not to have funds tied up in that mess when we get to the red or green line we will make money much faster.
While we aren't trading BTC in this renege come join cash is King for some alt trades I will have another few today!
Cash Is King!
BTC short term movesAs I predicted the reversal of Bitcoin in my last TA perfectly on point I want to go a bit in a shorter timeframe I that one.
BTC got rejected at the 9.2k range (which I mentioned was a critical resistance point) and is now moving a long in the middle of the upward channel - I can see BTC going back to 8700$ and test test support there (Fib line, Upward channel and previous support) - IF we break that we can again expect lower lows and the reversal wa maybe only a dead cat bounce.
I still see more momentum to the upside and see BTC bounce off (or not even get to) the 8700$ range.
Good luck!
Bitcoin: BTCUSD Next Key Trade Points for Sunday TradesBitcoin Trade Points for Sunday Trades
Update: Bitfinex Feed 12:27gmt/07:27est
Bitcoin is really trying to break the downtrend here - a bear
engulfing green ...can buy or add once it's broken through to
upside if we see it.
It's tracking a narrow corridor/band of uncertainty right now,
trying to figure out he next move - cannot be trusted for sure
as a result but it looks to be trying for the upside now, at least.
Use a stop and try to run it up if possible if this break does
actually materialise from here - it may not be possible except
in head, but watch for a failed break - this time last week in
10 minutes'time we got an amazing burst upwards if you
remember...
It's Bitcoin - anything can happen anytime. That's half the fun,
isn't it ?
Downside potential still as comments above
Sunday 10:32 gmt/05:32est Update
Bitcoin Sunday
Although Saturday was a slow day again we did at least manage to squeeze 310 points on the first short and then 200
or so on the counter-rally long before getting stopped out. Overnight Bitcoin has fallen to the next downside target at
7547 making a new low for this decline at 7550.
If you were up and around for that move too then you've had
a very profitable Saturday. Some people still have to work for a living...whilst others play Bitcoin.
Those with long memories will know that 7547 was the most likely downside target mentioned back in the mists of time,
nearly 2 weeks ago now. But the overall pattern is still bearish nonetheless.
If you reversed back long at 7550 you have traded brilliantly and don't need much help or much guidance here any more.
But the rally from the downside target has been feeble so far and if long here you'll know already that this is still high risk
(but still the right trade as the stop can be very close to entry, just 20 or so under 7550 entry, so low risk but
potentially high reward). It can easily come back to the low again at 7550 but it has to hold up here for any failure to do
so at any point today by more than 20 points will flip Bitcoin back to negative yet again and force it lower, most likely to
the next support line at 7221 and then, once this gives way, back to 5915 on Bitstamp where we will probably look to buy
again if price action allows.
Returning to the upside Bitcoin is tracking within a small
parallel and cannot be bought again from here unless it is broken above - and only then for a spurt back to the bigger
dynamic waiting above it at around the 8079 level. As things currently stand this level is the key to the upside for Bitcoin
over the more medium term. It has to break and hold above here for the bulls to regain any real control. Once again, even
if that looks unlikely right now, we still have to be prepared for any eventuality. It's Bitcoin, after all.
BTC/USD UP or down?BTC now moving in the green zone and waiting for a pulse for further movement, the zone will break through and the resistance line BTC will go up to 10k if the momentum does not drop to 8000
LTC - Swing trades - follow the chart~Okay, so today we gonna do some swing-trades on LTC - USDT. If you have any questions or want to follow updated charts and calls about this swing trade make sure to join our discrod server : discord.gg
BTC - Decision Time! We have been bouncing off of my midterm Bullish trend line for the past couple weeks now. Couple things I am watching for at this point where we are looking for BTC to make uop its mind about where it wants to go.
For Bullish movement I am looking for a couple bullish candle closings positive of the resistance trend line that has been set and not broken for the last couple weeks. We may move down to 10500 area once more before we see what BTC wants to do, however, we are seeing semi-strong support at 11000.
Entry point ideally 10600-11200 with a reassessment at 14000 of bullish momentum. I will take partial positions out as I watch this trade progress.
For bearish movement I am looking for bearish candle closings below the midterm trend line. I am not looking to trade this as we have been bouncing off of the trend line, we could see price go back the linear regression line or through it so 9000 area or lower. Looking for a possible set up for a trade here if that happens.
Let me know your thoughts. Keep an eye on price action this weekend. Looking for movement once way or the other.
Maybe Bitcoin will up in the next timeI think bitcoin will up in the next few days . If have a few good news . Maybe bitcoin will up soon .
Now Bitcoin can move around 9800 - 10200 . IF BTC haven't crash down 9800. We can hope Bitcoin and altcoin go up slow.
First Btc will go up 11200 then 14600 .
Don't worry.
Thanks
