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Btcusdsetup

Bitcoin: Sell-off Should Continue Near CMPHi Traders, In the Bitcoin daily chart above, price broke the ascending trendline and support level impulsively. Price has then retested the broken support as resistance and moving lower gradually. The pattern on the chart can also be seen as an Elliot Wave double zigzag pattern. The first zigzag as completed in wave (w), followed by the double zigzag connector in wave (x). Price is now making the second zigzag in which wave a is completed and the price is currently in wave b. As long as the price stays below the red line (wave a high), we should be anticipating a sell-off in wave c of (y). The setup will be invalidated if the price breaches the red line. The breach of the green line will confirm the bears have resumed. I will be watching how this plays out in the days ahead. What's your view on Bitcoin? Let me know in the comment. Best of luck on the chart. Veejahbee.
Short
by Veejahbee
Bitcoin's Recent 12086 And 12486 Peaks Dictating BTC/USD's MovesBitcoin (BTC/USD) continued its volatile price activity early in today’s Asian session as the pair continued to eye the psychologically-important 12000 figure following its recent high print around the 12486.61 area, its strongest print since July 2019. After the depreciation of BTC/USD earlier this week from 12486.61 to 11825.00, traders were unable to gain a foothold above the 12077.74 area during a retracement higher, representing the 38.2% retracement of the depreciating range. Traders then drove the pair down to the 11611.75 area after electing Stops below the 11642.05 area, representing the 61.8% retracement of the recent appreciation from 11120.00 to 12486.61, a test of the 11603.11 area that represents the 50% retracement of a previous depreciating range from 12086.22 to 11120.00. Traders are paying close attention to some levels where Stops were recently triggered during the move higher, including the 11992.15, 12086.22, 12112.97, 12173.80, and 12348.26 areas. Traders note that the intraweek high of 12486.61 represented a test of the 12496.68 area, an upside price objective related to buying pressure that emerged around the 8055.91 area earlier this year. One range that has recently influenced recent price activity is the recent appreciation from 11546.15 to 12086.22, and traders are observing that buying activity emerged during a recent pullback just below the 11497.71 area, representing the 38.2% retracement of the appreciating range. Additional retracement levels in this appreciating range include the 11316.19, 11134.46, and 10909.61 areas. Traders also remain focused on the 12023.45, 11964.56, 11880.38, 11803.31, 11737.30, 11642.95, 11560.28, and 11533.51 areas during pullbacks lower, representing the retracements of the recent appreciating ranges that commenced around the 9005.00, 8905.84, 8815.01, and 8632.93 areas. A key level where buying pressure recently emerged is around the the 11529.38 level, a test of the 11510.44 area that represents the 50% retracement of a historical depreciation from 19891.99 to 3128.89. Additional upside price objectives include the 12713.18, 12859.49, and 13107.05 levels, targets related to areas of buying pressure that emerged earlier this year around the 3858.00 area and above. Stops were recently elected above the 11026.97, 11115.62, 11340.92, 11399.17, 11407.81, 11570.81, and 11761.97 levels. Below those areas, some potential areas of technical support include the 10200.39, 10139.11, and 10082.97 areas. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 200-bar MA (4-hourly) and above the 100-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly). Price activity is nearest the 50-bar MA (4-hourly) at 11802.54 and the 50-bar MA (Hourly) at 12096.73. Technical Support is expected around 11497.91/ 11348.03/ 11120.00 with Stops expected below. Technical Resistance is expected around 12496.68/ 12713.18/ 13202.63 with Stops expected above. On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage. On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage. TITLE : BTC /USD BUY LIMIT ORDER ASSETS : CRYPTO SYMBOL : BTC /USD ORDER TYPE : (EP1) BUY LIMIT ORDER (1/2) position size (partial low lot entry) (EP2) BUY LIMIT ORDER (2/2) (Now enter rest of position) TF : Daily ENTRY PRICE 1: $11,360 ENTRY PRICE 2: $11,060 STOP LOSS : $10,760 TAKE PROFIT 1- $11,860 TAKE PROFIT 2- $12,360 TAKE PROFIT 3-$12,860 Modify SL TO TP.3 AND TRAIL SL TP.4 $13,260 STATUS : pending PLEASE PROPER RISK MANAGEMENT
BITSTAMP:BTCUSDLong
by MavRich_Trading
10
Sideways Action In BTC/USD Ahead Of 12000 Test?Bitcoin (BTC/USD) sought fresh market sentiment early in today’s Asian session as traders waited to see if buying activity will soon be able to reclaim the psychologically-important 12000 figure. After the pair’s recent climb to the 11920 area and subsequent decline to the 11350 area, trading activity has been relatively sideways. Traders remain focused on the 11395.78, 11372.38, 11350.94, and 11307.97 areas during pullbacks lower, representing the 23.6% retracements of the recent appreciating ranges that commenced around the 9005.00, 8905.84, 8815.01, and 8632.93 areas. A key level where buying pressure recently emerged is around the the 11529.38 level, a test of the 11510.44 area that represents the 50% retracement of a historical depreciation from 19891.99 to 3128.89. Another technical level that created some upward momentum recently is the 11697.77 area, representing the 23.6% retracement of the recent appreciation from 4670.69 to 13868.44. Traders recently drove BTC/USD as high as the 12134.29 area before profit-taking pushed the pair lower to the 10546.15 area, just above the 50% retracement of the same appreciating range from 8905.84 to 12134.29. Additional upside price objectives include the 12227.83, 12268.47, 12311.39, 12859.49, and 13107.05 levels, targets related to areas of buying pressure that emerged earlier this year around the 3858.00 area and above. Stops were recently elected above the 11026.97, 11115.62, 11340.92, 11399.17, 11407.81, 11570.81, and 11761.97 levels. Following the pair’s recent appreciation to the 12134.29 level, traders are observing retracement levels around the 11395.78, 11350.94, 11307.97, 10938.90, 10866.33, 10796.77, 10651.81, 10569.65, 10474.65, 10383.61, and 10316.39 areas. Below those areas, some potential areas of technical support include the 10200.39, 10139.11, and 10082.97 areas. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 200-bar MA (4-hourly) and above the 100-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and above the 200-bar MA (hourly). Price activity is nearest the 50-bar MA (4-hourly) at 11529.04 and the 50-bar MA (Hourly) at 11675.93. Technical Support is expected around 11357.46/ 11249.01/ 11073.70 with Stops expected below. Technical Resistance is expected around 12268.47/ 12311.39/ 13488.49 with Stops expected above. On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage. On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
COINBASE:BTCUSDLong
by MavRich_Trading
BTC/USD LONG (SNIPER ENTRY TO THE MOON)BTC/USD BUY LIMIT ENTRY 1 $8,286 & ENTRY 2 $8,068 SL $7,840 TP.1 $8,686 & TP.2 $9,068 TP.3 $9,468 & TP.4 $10,000 TP.5 10,468 some important retracement levels related to the pair’s trading ranges from earlier this year including bases around the 6430.00, 6854.67, 7671.00, and 8216.71. One of the tightest ranges that traders have been monitoring is the move from 8216.71 to 10522.51 and have noted that Stops were reached below the 9878.34, 9641.69, and 9369.61 levels. The next downside retracement levels in that range included the 9097.53 and 8760.88 areas, and they have been triggered over the past couple of trading sessions. A broader range that traders are watching is the move from 7671.00 to 10522.51 where Stops have been elected below the 9849.55 and 9433.23 levels. The next downside retracement level in that range includes the 8343.96 area. Likewise, an even broader range that traders are watching is the move from 6854.67 to 10522.51. Stops were triggered below the 9656.80 level during the move lower, and the next downside level in that range was the 9121.40 area. Similarly, Stops were reached below the 9556.68 area, representing the 23.6% retracement of the move from 6430.00 to 10522.51. The next downside retracement level in that range was the 8959.17 area, followed by the 8476.26 area. Price activity is nearest the 50-bar MA (4-hourly) at 9491.40 and the 50-bar MA (Hourly) at 8919.42. Technical Support is expected around 8447.96/ 8062.25/ 7963.25 with Stops expected below. Technical Resistance is expected around 9121.40/ 9370.00/ 10534.04 with Stops expected above. On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage. On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
BITMEX:BTCUSD.PLong
by MavRich_Trading
BTC/USD LONG (SNIPER ENTRY TO THE MOON)BTC/USD BUY LIMIT ENTRY 1 $8,286 & ENTRY 2 $8,068 SL $7,840 TP.1 $8,686 & TP.2 $9,068 TP.3 $9,468 & TP.4 $10,000 TP.5 10,468 that recent relative peak was also below the 9765.93 area, representing the 38.2% retracement of the move from 3128.89 to 13868.44. The next downside retracement level in this range is the 8498.67 area and the next upside retracement level in this range is the 11333.91 area. Perhaps the most important range that has recently impacted price activity is the considerably broader move from 19891.99 to 3128.89. Notably, the 9532.39 area represents the 38.2% retracement of this range, and that level again fell during yesterday’s North American session. The next upside retracement level in that range is the 11510.44 area and the next downside retracement level in that range is the 7084.98 area. Price activity is nearest the 200-bar MA (4-hourly) at 9549.51 and the 50-bar MA (Hourly) at 9651.42. Technical Support is expected around 9121.40/ 8760.98/ 8216.71 with Stops expected below. Technical Resistance is expected around 10534.04/ 10652.04/ 10698.24 with Stops expected above.
COINBASE:BTCUSDLong
by MavRich_Trading
2
BTC/USD LONG SET UP TO 11k ( BTC GOLD CROSS)BTC/USD LONG ENTRY 1 $9,268 & ENTRY 2 $8,968 SL $8,723 TP.1 $9,668 & TP.2 $10,068 TP.3 $10,468 & TP.4 $10,868 Bitcoin (BTC/USD) oscillated early in today’s Asian session as the pair orbited the 9500 area one day after suffering one of its largest hourly declines in history. Bears pushed the pair from the 10315.00 level to the 9290.98 area in less than two hours, triggering a cascade of Stops along the way. During periods of price consolidation such as the current phase of price activity, longer-term and broader trading ranges take on greater importance and may provide some guidance. One such range that traders continue to monitor is the depreciation from 13202.63 to 6430.00. Price activity has recently been traded above and below the 9816.32 area, representing the 50% retracement of this range, and the next upside retracement level in this range is the 10615.49 area, an area that traders were unable to push the pair above during its recent climb above the psychologically-important 10000 figure. Traders are monitoring another very important range, namely the appreciation from 3128.89 to 13868.44. Some Stops were reached above the 9765.93 area, representing the 38.2% retracement of this range. Additionally, another very important range that traders continue to monitor is the depreciation from 19891.99 to 3128.89, an extremely broad range originating with the pair’s all-time high. Price activity recently moved above the 9532.39 area, representing the 38.2% retracement of this range, and the next upside retracement level in this range is the 11510.44 area, representing the 50% retracement. Below current market activity, traders anticipate bids around the 9322.05, 9169.41, 8911.79, and 8739.96 areas.
COINBASE:BTCUSDLong
by MavRich_Trading
BTC/USD LONG SET UP TO THE MOON)BTC/USD BUY LONG ENTRY 1 $9,568 ENTRY 2 $9,368 SL $8,995 TP.1 10,040 TP.2 10,268 TP.3 10,540 TP.4 10,840 tp.5 11,000 Downside areas of potential technical support related to both of those levels include the 9269.57 and 9389.28 areas. Additional areas of technical support that traders pushed BTC/USD below during its depreciation late last week include the 10149.22, 10095.40, 9887.63, and 9816.32 levels. The current phase of price consolidation has traders evaluating additional areas of potential downside technical support. Notably, the 9010.07 level represents the 61.8% retracement of the move from 10545.43 to 6526.00, and may provide some buying pressure when it is tested. The reversal of the pair’s recent ascent through and above upside price objectives could see some of those areas become potential areas of technical support. These levels include 9370.10, 9322.05, 9203.36, 9169.41, 9078.05, and 8880.87 among many others.
BITSTAMP:BTCUSDLong
by MavRich_Trading
2
BTC/USD LONG SET UP FOR BULL RUNBTC/USD BUY LIMIt ORDER ENTRY 1 $9,768 ENTRY 2 $9,640 SL $9,220 TP.1 10,040 TP.2 10,268 TP.3 10,540 & TP.4 10,840 *Bitcoin (BTC/USD) appreciated early in today’s Asian session as the pair traded as high as the 10262.35 area after trading as low as the 10083.10 area during yesterday’s European session. Notably, the pair moved higher to test the 10522.51 area during yesterday’s North American session, a fresh multi-month high. After peaking around the psychologically-important 10500 level early in yesterday’s European session, traders quickly booked profits and drove the pair lower to the 10083.10 level, testing the 100-bar MA (4-hourly) and just above the 10064.04 area that represents the 38.2% retracement of the depreciation from 13868.44 to 7712.45. Traders are curious to see if the pair will be able to remain above the psychologically-important 10000 figure, and if BTC/USD bulls will have the fortitude to test the psychologically-important 11000 figure. the pair continues to trade above the 50-bar MA (4-hourly), and are watching to see if the pair will be able to reclaim the 50-bar MA (hourly) following yesterday’s early depreciation. Traders are watching the 10513.53 area, an upside price objective that the market was briefly able to eclipse yesterday. This area gained technical significance when buying demand emerged around the 9521.47 area during the pair’s climb, adding on to the earlier demand around the 9078.05 area. Above current market levels, traders cite upside price objectives around the 10545, 10615, 10652, 10698, and 10722 levels. Price activity is nearest the 50-bar MA (4-hourly) at 9668.68 and the 50-bar MA (Hourly) at 10315.18. Technical Support is expected around 9948.51/ 9757.64/ 9370.10 with Stops expected below. Technical Resistance is expected around 10534.04/ 10652.04/ 10698.24 with Stops expected above
BITMEX:BTCUSD.PLong
by MavRich_Trading