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BTC/USD Bitcoin Now Support ZoneHello Traders, You can see here 1D Line chart after Descending chart pattern break down that time Bitcoin price around $6000 and now price around $3200 so finally wait over and we have seen Bitcoin price now support zone it's Resistance become support if you'll see in chart June-July 2017 that time it's strong resistance after that price hit $5200 and again price drop $3200 Then it's become support so finally we have seen Bitcoin top 20k and now Bottem around $3000-$3200 so wait for now and we need btc stable some time here this support. If you'll see 4h timeframe so clearly you can see after symmetrical triangle pattern break around $3800 and the target $2950-$3050 area. See you soon next analysis. See here our latest analysis. BTC/USD: XVG/BTC: BTC/USD: Wish you all the best.
BITSTAMP:BTCUSD
by globalrashid
BITCOIN !O.O! FINALLY THE 11 MONTH OF WAIT CHOSE THE DIRECTION finally the btc chosen its direction , the reasons are below 1. we closed the monthly candle below the 20MA line(blue) which happened last in 2014 , we retested it near 6600 to confirmed it as resistance and broke below 2.we had a death cross of 21ema(orange) with 55ema line (yellow) , last time happened in 2014 , we restested the 55 ema and we crashed down hard in 2014 ,,,, same happened this time we had death cross then retested the 55 ema with that tether manipulation pump and now crashing down 3. 21 ema (orange) line was holding us for 11 months but the bounces from 6k was getting only weaker and weaker ,, with the 10ma (blue) line turning down so hard which is so much bearish 4. people were calling this as a falling wedge but , look at the volume character sticks , sell volume has always been higher than buy , so obviously its not a falling wedge 5. death crossed totally on the major moving averages ,, what does that show ? simply the down momentum is way too strong 6. we were creating the series of lower highs with so less conviction 7. 6k only produced lower highs which meant it was getting weaker and weaker summing up the things , we almost lost the upside momentum since past month , whats coming next ? ill update below
BITSTAMP:BTCUSD
by ViperTron
Has THE road to HELL Started or BULLS ARE still IN THE HOUSE ? Important levels are marked in blue horizontal lines we are so tight ranged right now , bulls are holding the 6050-6200 area strongly and BEARS are holding the 6500-6800 area strongly , volume is getting thin and thin which is not a good sign though , we will have a volume spike within few the days and move can be either side 1. A daily close above the 21ema (orange line) near 6380 will be a good signal for the bulls but that doesn't means bull run will start 2. a daily close above the 6800 level is what really gonna show the conviction from the bulls and that would be a great signal to buy 3. we are just a bit above 6200 support right now ,, we are are creating a series of lower highs in a small triangle (yellow) ,, so yes if the 6200 breaks now , we have to assume that all the conviction from the bulls have been faded away 3. a break below 6050 level if going to fade away all the bullish cases for me RIGHT NOW we are at a LEVEL where we cant be too much bearish or bullish because the major levels have not been broken yet " Bulls make money, bears make money, pigs get slaughtered. "
BITMEX:BTCUSD.P
by ViperTron
Has The Bull Run Started Or Just A tease before the BREAKDOWN ??After Constantly getting rejected by the Ema 21 line (orange) , finally the move happened into the market we are just touching the descending resistance (white line) , with a ema55(yellow line) resistance hovering at the top of it is actually a strong resistance ,, the volume is very low clearly shows big peoples yet not interested to take a action BULLISH CASE case 1.1 - if the daily closes above 6480 , theres not much stoppage for the test of 6800 the horizontal resistance , which is the divident between the bull market and the current downtrend , we have some resistance at 6600 area too below the 6800 ,, case 1.2 -- if we get a daily close above 6800 with some HEAVY VOLUME it will be almost a certainty to test the 7400 and higher , ill update on that BEARISH CASE case 1.1 -- since the volume is not so heavy which can easily turn out in a fakeout ,, we have to assume if the daily closes below 21Ema line again , i am pretty sure it will result in a big fakeout , and we will be due for a test again of those 6.1k end line if bears break 6300 , surely we will see some real volume dumps Since the vision is yet not clear right now , and theres a famous quote -- wheres the vision is not clear theres no hope , so yes we dont have a clear direction right now
BITSTAMP:BTCUSD
by ViperTron
Let the market play out.. Eventually we'll be back!Greetings everyone hope you're doing well with the markets during this downfall! In the meantime lets use this time we have to our advantage and scout out good opportunities for buy entries. Possibly even purchase some BTC or top altcoins when the next fall for BTC goes around $5,000-$4,000 I'm betting. I also believe by 2020 we'll be hitting $10k or more again, and climbing at least towards 20-25k if not way higher. While times currently seem harsh don't let this fool you forever good opportunities are showing up everywhere, look for smaller upcoming projects not just BTC! Or do whatever you want and ignore everything I have to say, and remember this is NOT financial advice! Give it another week or two and I believe we should settle down along the bottom curve and shoot up again within a couple days maybe a week, but it should be a bit of extended sideways movement along the line until it'll progress upwards again for a bit. This could be one of the lowest drop points soon, or maybe the last drop was, but be cautious! Just my .02 cents.
COINBASE:BTCUSDShort
by frostyflakeds
1
BTC/USD Results So Far. I Called This Trade Once Again...Once again, BTC/USD came to our zone and we caught a nice buy right at basically $6,000 . I gave a free analysis on this trade on here in my trading ideas and on my YouTube Channel. Guys, no indicator, bot, etc can beat PRICE ACTION . I always say PRICE ACTION because it is KING in ANY MARKET. My VIP Signal Channel caught this trade & we are up heavy. We are still holding for target 2 around $8,000 but we have secured profit no matter what and letting it run. Simple trading = Better trading.
BITFINEX:BTCUSDLong
by TradingWill
2
BTC/USD Back to 8000+ BTC/USD has broke above the 50 EMA on the 8 hour chart and is currently finding support on top of it. The contiuation pattern further down has thus been canceled. We can see BTC/USD jump high next if the current supports hold strong. Let's see how this plays out! Remember, as always, unproper risk management increases your chances of failure no matter how good of a trader you are. Aim for consistency and being the best trader you can. But the last thing you want to focus on, is the money, the reward. The more you focus on it, the more greed takes places and the more you cloud your thinking. Happy trading!
BITSTAMP:BTCUSDLong
by MoolahMaker
BTC:USD DAILY UPDATE (day 146)Yesterday’s analysis /position: Regained confidence in my position due to div' in OBV and lack of follow through from bulls above $7,500. Short from $7,398 with stop loss at $7,826. Patterns: Triangle and trend Horizontal support and resistance: Strong R: $7,766 Strong S: $6,800. Weak S: $7,318 BTCUSDSHORTS: Violated 20,000 support and quickly rebounded. Funding Rates: longs pay shorts 0.01% 12 & 26 EMA’s (calculate % difference): 12: +8.36% 26: +11.74% 50 & 128 MA’s: 50: +14.95% 128: -1.45% FIB’s: 0.382 = $8,448 0.236 = $5,789 Candlestick analysis: Trading above top wick of reversal candles which is concerned for bears. Ichimoku Cloud: Re entered daily cloud. E2E' = $8,684. 3d cloud = $10,400. 12h has bullish TK’ Cross, recent bullish kumo twist, LS above price and last candle had a kumo breakout. C clamp on 4h. TD’ Sequential: Green 8 on daily. Green 2 above green 1 on weekly. Green 3 above green 2 on 3day. Green 3 on 12h. Visible Range: 24h: last bit of resistance at $7,740. Biggest volume profile at $7,680 - $7,700. 5d: largest volume profile at $7,440 with almost nothing from $7,740 - $7,800. Monthly: largest volume profile at $7,400 with a gap between $7,400 and $6,800. Very little volume between $7,700 - $7,800 should mean very little resistance. Longer the price stays there without a sharp breakout the more it smells like a bull trap. 1 year: shows huge volume from $7,800 - $10,000. This is single handedly enough reason for me to stay away from longing until >$10,000 BTC Price Spreadsheet: 12h: +2.80% 24h: +2.80% 1w: +15.56% 2w: +22.46% 1m: +26.41% Bollinger Bands: Still hugging top band and looks like it needs to return to the MA before breaking through $7,800. Testing MA for resistance on weekly. Trendline: “Third touch confirms trend” Currently making third touch on trendline that connects 3/5/18 to 5/6/18. Daily Trend: Bullish. Fractals: Just broke up fractal. Next one is $7,800. Down = $6,066 On Balance Volume: Starting to trend upward significantly over the past 24 hours almost removing bearish divs’. Higher time frames look healthy. Chaikin Money Flow: Significant bear div' shows waning buying pressure. Violated 0 as price consolidating over past couple days. Has made a higher local high. Currently testing 0.05 for resistance. If it cannot break though that area it would be very significant. Buy/Sell Sentiment on Trading View (counter trade): Oscillators = buy MA’s = strong buy Summary = Buy RSI = 69.9 (overbought) Stoch = 86.4 (overbought) Summary: 10 days ago everyone was bearish. After going up for a week and a half everyone seems to have turned bullish. That is exactly what markets do. As soon as the weakest hands feel comfortable opening a long then the market will start to move in the other direction. We are overbought and at resistance. In a bear market that presents a great opportunity to sell/short. Most important indicators: 8 on the daily sell setup, resistance cluster from: trendline, 128 day MA, 20 week MA, the top of the daily Bollinger Band and the MA from the weekly BB. The RSI and the Stoch are overbought. Those are the reasons I remain confident in my position.
BITMEX:BTCUSD.PShort
by Sawcruhteez
3
BTC:USD DAILY UPDATE (day 142)Yesterday’s analysis/position: Closed long at $7575 and opened shorts from $7,348 - $7,397 due to the resistance cluster from the triangle, the 128 day MA, the Ichimoku Cloud, the Bollinger Bands, established horizontal resistance and a perfected sell setup on the TD' Sequential. Price being +14%, and longs paying shorts on Bitmex provided great confirmation. Patterns: Retesting bottom of triangle. Horizontal support and resistance: R: $7,600 S: $7,300 BTCUSDSHORTS: Continue to pull back as the price consolidates. Once shorts pick back up then price is expected to pull back. Funding Rates: Longs pay shorts 0.01% 12 & 26 EMA’s (calculate % difference): 12: +8.65% 26: +10.65% recent bullish cross on daily 50 & 128 MA’s: 50: +9.97% 128: -2.95% FIB’s: 0.236 = $5,817 0.382 = $8,476 Candlestick analysis: Shooting star yesterday, doji forming today. Ichimoku Cloud: Posturing for TK cross. Resisting cloud, supporting above Kijun. Tenkan and Kijun still angling downward on 3d (not posturing for bullish cross) TD' Sequential: Green 4 on the daily. Green 2 above a green 1 on the 3d. Green 1 following red 9 on the weekly. Visible Range: Largest resistance: $7,300 - $7,500 and from $8,000 - $9,000. Largest support $6,775 BTC Price Spreadsheet: +19.59% over last week. Bollinger Bands: Weekly starting to tighten. MA is apart of resistance cluster. Daily candle closed outside of the top band for the first time since 12-8-2017 Trendline: Coming from triangle Daily Trend: Bullish for 6 days Fractals: DOWN: $6,075 UP: $7,751 On Balance Volume: Bit of a bull div. Price would need to be > $7,750 to correspond w volume Buy/Sell Sentiment on Trading View: RSI: 67.1 Stoch: 87.6 Summery: BUY (counter trade) Summary: Feeling very good about my short position and am considering adding to it today. Reversal candles at resistance cluster is a very good sign for the bears. Stop loss is set at $7,816 and there are two profit targets. If you like batting for average then $6,200 is the target. If you like hitting for power then I am projecting a $4,250 bottom on or around 8/30/18.
BITSTAMP:BTCUSDShort
by Sawcruhteez
1
BTC:USD DAILY UPDATE (day 140) Yesterday’s analysis : Rally should take us to the bottom of the triangle and the 128 day MA - around $7,600. Then pullback to $6,200. From there I expect us to find a base and rally back to $10,000. If you missed it I would highly recommend checking out the Bitcoin Bubble Comparison that was posted yesterday. Patterns: higher low/diamond bottom. Inverse h&s with $7,835 target and $6,825 neckline Horizontal support and resistance: R: $6,800 S: $6,676 BTCUSDSHORTS: Broke out of channel, but found resistance at 24,717. Hanging man on the daily. Expect 21,400 support to be retested Funding Rates: Today longs will pay shorts 0.01% 12 & 26 EMA’s (calculate % difference): 12: +3.94% 26: +3.36% | Getting ready to make bullish crossover on daily for first time since 4/19. Recent bullish cross on 12h. MA crossovers (50 and 128): Bullish on 1h. Getting ready to cross on 2h. FIB’s: 0.382 at $8,476 and 0.236 at $5,817 Candlestick analysis: Ichimoku Cloud: Kijun at $7,184. Cloud at $7,488. Fully bearish. 6h just broke out of cloud, had a bullish kumo twist, and is getting ready for a TK' cross. TD' Sequential: Green 2 above a green 1 on the daily. Green 1 after a red 9 on the weekly. Green 8 on 12h. Visible Range: Increasing resistance from here to $9,000 50 & 128 MA’s (calculate % difference): 50: Current candle is trying to breakthrough 128: -13.36% BTC Price Spreadsheet: X Bollinger Bands: Monthly MA is at $5,473 Weekly is starting to sqeeze. MA is at $7,738. Top band on daily is apart of resistance cluster at $6,800 Trendline: Bull trend start at 9/15/17 and connect with 6/30/18 (green dotted). Bear trend was recently broken. Down trend from triangle will be at ~$7,600 Daily Trend: Bullish since 6/29 Fractals: UP: $6,822 DOWN: $6,075 On Balance Volume: Coming up with the price Buy/Sell Sentiment on Trading View: RSI: 56.3 | Stoch: 70.5 | Short term MA’s showing buy signals. Conclusion: Very confident in a pump to $7,500. Green 2 trading above a green 1 on the daily is providing an entry. I have set a stop order to long as soon as the price reaches $6,851. That will allow us to break through the major resistance at $6,800 and will still get us in a position with a favorable risk reward. Stop loss would be set at $6,474
BITSTAMP:BTCUSDLong
by Sawcruhteez
3
BTC:USD DAILY UPDATE (day 139)I have been spending less and less time looking at the 4 hour chart and have removed that part from the title. Moving forward the daily update will primarily focus on the 1w, 3d and daily charts. Outlook 1-4 weeks: bullish 4 weeks - 12 months: bearish > 1 year: super bullish Projected Bottom: $4,975 = 20% likelihood | $4,000 - $4,200 = 30% | $2,500 = 15% | $1,000 - $1,250 = 35% Yesterday’s analysis : Weekly 9 on the TD' Sequential and red 6 on the daily. Expecting rebound to $7,500 - $8,000. Patterns: Inverse h&s with $6,800 neckline on daily. Horizontal support and resistance: R: $6,600 - $6,800 S: $6,500 resistance becomes support? $6,200 is strong support. BTCUSDSHORTS: Broke out of bear channel and then immediately pulled back. Wick on top of the daily candle is ugly and tells me that we will likely break down 21,000 support in the next couple days. Funding Rates: Longs will receive 0.0117% EMA’s (12 & 26): Bullish 1h, 2h, 3h, 4h, 6h and currently crossing on 12h. MA crossovers (50 & 200): just made bearish crossover on 4h. 1h posturing for bullish cross. FIB’s: 0.236 at $5,817 and 0.382 at $8,476 Candlestick analysis: 4h hanging man. Ichimoku Cloud: D: Full bearish | Tenkan resistance turned to support | Kijun at $7,184 | Cloud at $7,494. 3d: Tenkan at $7,200. W: Tenkan at $8,698 TD' Sequential: D: Price flip after Red 6 major resistance at $7,700 | 3D: Price Flip after red 1 | W: Green 1 following red 9, major support at $6,069 Visible Range: Resistance stacked from $6,600 to $9,000. Large gap from $4,300 - $5,900 that I expect to get filled before bear market is over. 50 & 200 MA’s (calculate % difference): 50: -1.46% 200: -35.22% BTC Price Spreadsheet: Price is currently +3.87% over the past 30 days. First time that has been positive since 5/14. Bollinger Bands: W: MA is at $7,722 and angling down 3D: MA is at $6,885 and will be apart of resistance cluster D: MA is starting to angle upward for the first time since 4/17. Top band is at $6,837 and will be apart of resistance cluster Trendline: Recently broke down trend. Could draw bull trend by connecting 6/28 and 7/15 Daily Trend: Bullish since 7/12 Fractals: DOWN: $6.074 UP: $6,842 On Balance Volume: Supported 1,349,811 and is bouncing in line with the price Buy/Sell Sentiment on Trading View: RSI back above 50. Stoch at 43. MA’s are starting to show buy signals after showing ‘sell’ across the board. Conclusion: There will be heavy resistance at $6,800. I expect that to slow down this rally, but not for long. Still expecting $7,500 - $8,000 to be the top of this dead cat bounce. If you are not in a position then I would wait to buy the breakout of $6,850 which would confirm the inverse h&s on the daily chart. I am long ETH:USD due to a more favorable risk:reward ratio.
BITSTAMP:BTCUSDLong
by Sawcruhteez
it is time to go Long BTC BTC has been hovering in the 6200-6800 range for the past week. Bears expect it to break support at 6100 and then to go down below 5900. It is unlikely to happen. After this period of consolidation, small bullish divergences are appearing. The clearest one can be visualised using the MACD histogram. Although it is a lagging indicator, it has a solide track record of indicating turning points in the BTC price evolution. Change the MACD parameters to MACD (18,36, 15) and you will appreciate what I mean (note: these parameters are derived from a backtest optimisation exercise, which is considered "curve fitting" so use with caution). RSI is rising from the mid-40s and reaching the middle of its range. Stochastics recently bounced from the 80-level (overbought) but have since retraced; note how Stochastics typically re-test their boundaries before moving decisively in the opposite direction. Looking at the Volume Profile for the past 3 months, the Point Of Control is at 6,900~7,000. Once BTC reaches this level, it will quickly progress to 7,200~7,500 which the next area of Volume Interest. Once it reaches that level, then maybe the market will turn around and restart its long term downtrend. The market is deciding where it wants to go and my money is on the "up until 7,200" side. My approach is to go long 1/3 of my desired final exposure and keep laddered stop losses at the range, Stop and Reverse 1/3 at below 5,950. (this is not financial advice, do your own research).
BITFINEX:BTCUSDLong
by Lithium_SG
3
BTC:USD 4 hour chart DAILY UPDATE (day 138)Yesterday’s analysis: Wanting a red 9 on the daily (Wednesday) in confluence with red 9 on weekly. Thought that it would pullback to $5,000 by then, is currently much more bullish than that. Patterns: Higher low on daily. Inverse h&s with neckline at $6,800. Weekly Triangle Horizontal support and resistance: R: $6,500 S: $6,200 BTCUSDSHORTS: Threatening to break out of channel after breaking through horizontal resistance. Next stop would be 28,000 Funding Rates: Shorts pay longs 0.056% EMA’s (12 & 26): Testing 12 EMA for resistance. Bullish crossover on 1h, 2h, 3h. Posturing for cross on 4h. MA crossovers: Resistance from 50 and 200 MA on 4 hour, and threatening to cross back over. Bearish cross on 3h, 2h, 1h. Posturing to cross back over on 1h. FIB’s: 0.236 at $58.17 | 0.382 at $8,475 Candlestick analysis: daily spinning top and inverted hammer, now bullish marubozu. 3d hammer shows strong supper at $6,240. Tweezer top on weekly. Ichimoku Cloud: Weekly starting to c clamp. 3d C clamp resolving itself. Tenkan support on daily. TD' Sequential: Red 5 on monthly. Close below $6,442 will give us a 9 (unperfected). Red 2 on 3d after 1-4 candle correction. Daily under $6,382 to get a red 6. Visible Range: Resistance stacked up from $6,500 - $7,200. 50 & 200 MA’s (calculate % difference): 50: -5.97% 200: -41.34% BTC Price Spreadsheet: X Bollinger Bands: M: MA waiting at $5,000 W: bouncing off bottom band, MA is at $7,945 3D: Bouncing off bottom band, MA is at $6,886 D: Currently testing MA Trendline: Could draw bull trendline from 9/14 low through 6/29 low. Downtrend from triangle will be at ~$7,500 Daily Trend: Bullish since 7/13 Fractals: UP - $6,816 DOWN - $6,095 On Balance Volume: Brokedown major at 1,255,729. Will current rebound turn that area into resistance? Buy/Sell Sentiment on Trading View: RSI - 46 Stoch - 26.3 MA’s are a sell across the board (save Hull MA) “As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterLBrandt Yard line of trend: Top: $19,776 Projected Bottom: $4,000 Field: $15,776 in length 87.15% of expected bear market is complete, therefore we are on the 13 yard line. Conclusion: Still keeping a close eye on the TD' Sequential. If we close a 9 on the weekly then I would expect a 1-4 candle correction to the upside. If this higher low can hold then I expect a rally to $7,500 - $8,000 over the next 1-4 weeks. Interested in building a long, but hesitant at current price levels. BTC is currently at resistance ($6,375), just closed a hanging man and is currently on a green 9 on the 4 hour chart. The 50 MA is also hovering right above the price. Not a time to buy imo'. I currently feel like ETH:USD is in a stronger position for a bounce and will be posting an update on that chart here shortly.
BITSTAMP:BTCUSD
by Sawcruhteez
1
BTC:USD 4 hour chart DAILY UPDATE (day 137)Outlook: 1-5 days: bearish 6 days - 1 month: bullish 1 month - 6 months: bearish 6+ months: super bullish Yesterday’s analysis: Waiting on the weekly 9, wondering if we will grind downward slowly, or get some capitulation Patterns: 4hchart: Rejected bear flag. Bullish A-B-C-D pattern. Inverted h & s invalidated with move below $6,260 Horizontal support and resistance: S: $6,150 (do not expect it to support another retest) R: $6,250 BTCUSDSHORTS: Supported above trendline, currently going for a retest of 23,000 resistance where horizontal and trend lines wait. If it breaks through that area then I expect the next major sell off to follow. Would recommend keeping a close eye on this chart over the next few days. Funding Rates: Shorts will pay 0.0229% EMA’s (12 & 26): 12: 2.88% above price 26: 4.57% above price. Recent bullish crossover on 1h, posturing for crossover on 2h. MA crossovers: 50: 8.66% above price 200: 45.60% above price. Bearish crossovers 15 min - 1d FIB’s: 0.236 fib is at $5,817 Candlestick analysis: 3dchart & weekly: bearish engulfing and tweezer top 4hrchart: multiple dojis as bears attempt to turn $6,250 support into resistance. Ichimoku Cloud: W: Price recently fell below green cloud. Recent bearish kumo twist. Bearish TK Cross. LS recently fell below price. 3D: Price below green cloud. Bearish kumo twist. LS below price. C Clamp is resolving itself. Daily: Price below red cloud, bearish TK cross, LS below price. Recently closed below Tenkan after it served as week support. 12hchart: recently fell out of red cloud and had a bullish TK cross - it is clearly confused. 6h: failed to stay inside cloud after getting a bullish kumo twist. Bullish TK cross, LS below. TD Sequential: Monthly: red 4 Weekly: red 9 3d: red 1 1d: red 4 (threatening price flip) Visible Range: heavy resistance at $6,500, wearing out support at $5,882 - $6,490 BTC Price Spreadsheet: 12h: +/- 0% 1d: +1.35% 1w: -5.54% 2w: -2.11% 1m: -4.86% Bollinger Bands: flattening out and tightening on daily. 3d and weekly on lower half of band. Trendline: Downtrend from triangle will be waiting at $7,500. Could drawn bull trend by using 6/29 and 7/12 on the daily chart. Daily Trend: Bearish since 7/9 Fractals: Weekly - UP: $9,945 DOWN: $5,788 Daily - UP: $6,843 DOWN: $5,788 On Balance Volume: Large bull div in weekly. 3d shows flat volume since 2/6 Buy/Sell Sentiment on Trading View: Moving averages are a strong sell. Oscillators are neutral “As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterLBrandt Yard line of trend: Top: $19,776 Projected Bottom: $4,000 Field: $15,776 in length 87.15% of expected bear market is complete, therefore we are on the 13 yard line. Conclusion: The TD Sequential is the most important indicator for me right now. Want a 9 on the daily to come on Wednesday the 18th and the red 9 on the weekly to close this Sunday. This is why I am bearish over the next 1-5 days. I expect the price to fall to $4,500 - $5,000 by the 18th. If all three of those boxes get checked then it will be time to build a large long position. This is why I am bullish over the next 6 days - 1 month. I do not believe this market has found a bottom and that is why I am still bearish for the next 1 month - 6 months.
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 4 hour chart DAILY UPDATE (day 136)Continuing with the new theme please see the checklist and notes below. Conclusion is the same as yesterday . Outlook: 1-6 days: bearish 7 days - 1 month: bullish 1 month - 6 months: bearish 6+ months: super bullish Yesterday’s analysis: OBV consolidating, Weekly 9, Daily amended countdown, resistance from 50 day MA. Expected downtrend through Sunday and then a bounce off the weekly 9. Horizontal support and resistance: S: $6,150 R: $6,289 $ 6,200 BTCUSDSHORTS: Shorts at horizontal and trend support levels as they continue to diverge with the longs. BB’s show plenty of room for shorts to build. Funding Rates: longs pay shorts 0.01% EMA’s (12 & 26): Bearish crossover from 1minute - 1week MA crossovers: bearish FIB’s: Expecting 0.236 to breakdown this week Candlestick analysis: Weekly and 3d tweezer top + bearish engulfing Ichimoku Cloud: 1W: Price below bullish cloud. Bearish kumo twist. Bearish TK Cross. LS recently fell below price. 3D: Price below very thin cloud. C Clamp seems to be resolving itself D: Price below bearish cloud. Bearish TK cross. LS below price. Just broke down below Tenkan TD Sequential: Weekly 9 seems very likely at this point. Red 1 on 3d following a 3 candle correction. Red 3 on daily after a completed count Visible Range: $5,775 as the major local support level. $4,000 as biggest area of support over last year 50 & 200 MA’s (calculate % difference): X BTC Price Spreadsheet: X Bollinger Bands: 4h - 12h hugging bottom. 1d has some room to go as does 3d. Trendline: Hyperwave at $5,000 (green). Downtrend from triangle at ~$7,500 (purple) Daily Trend: 3 day bear trend is starting to form a descending triangle. Fractals: D: up - $6,800 | down - $5,778 On Balance Volume: Daily coming for a 125,800 retest which has been a big level of support over the last month. Buy/Sell Sentiment on Trading View: Oscillators are neutral and MA’s are a sell across the board. “As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterLBrandt Yard line of trend: Top: $19,776 Projected Bottom: $4,000 Field: $15,776 in length 87.15% of expected bear market is complete, therefore we are on the 13 yard line. Conclusion: Expecting down trend to continue for another 5-6 days. Interested to see if is is a slow grind or if we get capitulation after breaking down $5,775. Feeling like it is too late to open a short and am planning on a large long position position from $4,500 - $5,000.
BITSTAMP:BTCUSD
by Sawcruhteez
1
BTC:USD 4 hour chart DAILY UPDATE (day 135)I am going to try doing things a little differently moving forward. The bottom line is that I have been spending much more time on this each day and seeing too little return in terms of networking and community interaction. The checklist below is what I go through every day. It is a list of my most important indicators in order of importance. There are so many different variables that it can be easy to get paralysis by analysis. My skill is being able to look at all of them and come to a concise conclusion. If this checklist helps you develop a consistent process then it is yours to use free of charge! Also feel free to skip the analysis and go straight to the conclusion at the bottom. Yesterday’s analysis: Weekly OBV div, Weekly TD countdown, 6 hour cloud, and moving average crossovers. Horizontal support and resistance: S: $6,275 R: $6,377 | $6,560 | $6,660 BTCUSDSHORTS: Fitting into downward channel. Rebound didn’t test top end of channel. Instead it found resistance at 23,000. Hanging man forming. Looks like we will go for a retest of 20,000 at a minimum. Bearish cross on EMAs. Divergence in weekly long:short is significant and starting to angle back for convergence. Longs are high, shorts have room to rally. Also longs paying shorts. Div in 6 hour long:short ratio is as big as we have seen it in 2018 Funding Rates: Longs pay shorts 0.01% EMA’s (12 & 26): Angling down. No longer posturing for bullish crossover. MA crossovers: Bearish. After flattening out they are angling down and spread out indicating a continued bearish trend. FIB’s: Currently bouncing off 0.382 and illustrates why we haven’t gotten to $5,00 yet. Candlestick analysis: Spinning tops, and hammers on 4h chart at support. 12 & 6 hour look to be forming a bear flag. 3day tweezer top + bearish engulfing. Weekly tweezer top and bottom?! Ichimoku Cloud: 6h is interesting. Currently at cloud + kijun support after failing to breakout. Recent bullish kumo twist. Recent TK cross on 12 hour, LS above price, Bearish cloud that the price failed to support. Price below cloud on weekly making it fully bearish. TD Sequential: Weekly 9. Would have had a green 9 on daily if 7th candle closed $16 higher. Tells me the next 7 days should be bearish (in line with original projection) and then we could get a nice bounce off the weekly 9. Visible Range: Huge gap from $4,800 - $5,500. Huge resistance up to $7,000. Slight relief until $7,775 then biggest resistance dating back 1 year. 50 & 200 MA’s (calculate % difference): X BTC Price Spreadsheet: X Bollinger Bands (1 week, 1 day, 4 hour): D: at MA, bands are tight. 3d: resisted right below MA. W: attempting to bounce off bottom band. Trendline: Down: $7,450 Up: $5,000 Daily Trend: Bearish, and at support. Fractals: Up: $6,841 Down: $5,786 On Balance Volume: Noticed that the range is getting tighter. Slapped on some BB’s and can start to see some similarities with 2016 Buy/Sell Sentiment on Trading View: RSI back below 45, stoch pulling back. All MA’s are sell except for volume weighted MA. MACD approaching 0.
BITSTAMP:BTCUSD
by Sawcruhteez
4
BTC:USD 4 hour chart DAILY UPDATE (day 134)Yesterday we examined the weekly chart and noted the strong buy signal from the Stochastic as well as the Tweezer Bottom from last week. I also noted that the RSI had climbed back above 50 for the first time in two months and also pointed out bullish divergences in the weekly and daily OBV . We have also been waiting for a few days on the 50 and 200 period MA ’s to crossover on the 4 hour chart as well as the 12 and 26 period EMA ’s to cross over on the daily chart. Unless something out of the ordinary happens the 50 and 200 MA’s should be crossing on the 4 hour chart sometime today. That is a relatively strong buy signal and is something to keep your eye on. If looking to build a bullish position then I would recommend using 50% of your normal position size due to betting against the trend. Enter ½ of that position upon the crossover on the 4 hour chart and add the rest after the 12 & 26 EMA’s cross on the daily chart. We have been challenging the resistance at $6,800 over the past week and I do not expect it to hold much longer. As soon as the price breaks through that level I am expecting a 15 minute candle to take us straight to $7,500 where the next significant area of resistance will be waiting. Setting a stop entry order at $6,826 could be a good idea as well. The divergence in the daily OBV disappeared as quickly as it showed up, however the divergence in the weekly is still evident. 1d 1w The Ichimoku Clouds are in the process of turning bullish on the lower time frames. The 4 hour cloud turned fully bullish on the 4th of July. The price has been attempting to break out of the 6 hour cloud over the past 36 hours and we just re entered the 12 hour cloud. 6h 12h The bullish indicators are mounting, however keep in mind that the resistance is going to be very strong from here to $8,500. The visible range volume profile shows the amount of volume at certain price levels. The larger the volume bars the more significant the resistance will be. As you can see below the bulls will be fighting an uphill battle in the weeks to come. I am still strongly considering opening a long upon the moving average crossovers. I am viewing a pump to $7,500 - $8,000 as a very likely outcome in the next 7-10 days. If I do decide to enter it will be for a maximum of 50% of my normal position. Thank you for reading! Have something to say? Leave a comment! Smash the follow so that you don't miss out on future updates and remember that clicking the like is good karma!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 4 hour chart DAILY UPDATE (day 133)Yesterday we looked at the reasons why I am expecting a $750 - $1,000 pump from the current price level. Today we will look at the mounting bullish indicators and ask ourselves if they are enough to bet against the bear trend. Today is Sunday and we only have a few hours left before the weekly candle closes. We are on a red 8 out of 9 on the TD Sequential and I would really like to see the the countdown complete before this pump continues. If we rally through $6,886 in the next couple hours then we will get a price flip before the red 9. If the countdown doesn't complete this time then it is very likely to complete in the future before this bear markets comes to an end. We are bouncing strong off the Stochastic buy signal and the Tweezer bottom . I do think there is plenty of room for this dead cat to bounce, however I am hoping that it doesn’t happen too fast such that it ruins the countdown to a 9. The RSI is back above 50 on the daily chart for the first time in two months. I view this like the 50 yard line of a football field. The bulls are now on offense and getting close to scoring position. This is an important confirmation for me when considering a long. There are currently multiple divergences in the On Balance Volume . One in the daily chart and one in the weekly. This is indicative of bigger players building a long position. The price has stayed level and the buying volume has spiked. That tells me that the proverbial smart money is accumulating at these levels and that is a very good sign for the bulls. The 12 and 26 period EMA’s on the daily chart are posturing for a bullish crossover as well as the 50 and 200 period MA ’s on the 4 hour chart. Longing one or both of those buy signals is becoming more and more attractive. If you elect to do so then I would suggest using ½ of your normal position size due to betting against the trend. A profit target of $7,500 - $8,000 is reasonable and a 5% stop loss provides a favorable risk:reward. I am going to remain on the sidelines for the time being and will be strongly considering buying each of the moving average crossovers. The main reason I am being cautious is because of the visible range volume profile . It is showing resistance stacked up from here to $9,000 with a big gap at $5,000 that is begging to be filled. Shorting this bounce and longing $5,000 are my priorities and it will not be a cause for much concern if I miss a move in between. Thank you for reading! Have something to say? Leave a comment! Smash the follow so that you don’t miss out on future updates and remember that clicking the like is good karma!
BITSTAMP:BTCUSD
by Sawcruhteez