BTCUSDSHORTS
btcusd - updateas per my comments yesterday seems we might see the small reversal i noted. now looking at it it might not be as big i as analysed. either way, any sign of bullish momentum, make sure you catch it.
See previous analysis
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BTCUSD - WHAT IS NOW EXPECTEDPersonally, i am in favour of LONG on BTCUSD. so i am expecting more upside
1. Wait for it to break this line before shorting
this bad boy (see chart)
2. Breaking this top will give good Momentum
for buy. TP1 will be around $4400 and TP2
will be around $5100 (see chart)
See previous analysis
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Bitcoin Daily Update (day 299)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: P > S MA > M MA > L MA = Fully bullish but currently challenging S MA.
Patterns: Phase 7 hyperwave | Symmetrical triangle / ih&s
Horizontals: Continues to be a lot of support in the $3,900 range which is my most bullish indicator right now. $4,100+ continues to be formidable resistance.
Trendline: Connecting to the top of the wicks from November 29th and December 24th for bear TL.
Parabolic SAR: $4,145 - right on the TL / top of the triangle
Futures Curve: The backwardation is more important to me (bullish) than the shorts heading back to support. They could spend a lot of time there while price rallies. However the spread is narrowing.
BTCUSDSHORTS: The way shorts are heading back to support is very bearish imo.
Funding Rates: Longs receive 0.04%
TD’ Sequential: G4
Ichimoku Cloud: Was checking the cloud today on some alts and was amazing how they are turning bullish while BTC’ is nowhere near that (traditional settings)
Relative Strength Index: Supporting > 50
Average Directional Index: Turning up while +DI diverges from -DI in a bullish manner but still too early to consider it a bull trend by the ADX.
Price Action: 24h: -0.4% | 2w: +6% | 1m: +12%
Bollinger Bands: Consolidating > MA during squeeze is bullish. MA turning down is bearish.
Stochastic Oscillator: Nearing overbought territory
Summary: Not much has changed. With the amount of support > $3,900 and the amount of resistance around $4,100 I am confident that the next move will be violent regardless of which way it breaks. That also leaves plenty of room to consolidate in a more narrow range toward the apex of the symmetrical triangle.
I considered cancelling my stop buy order on XBTH19 in favor of waiting for a close > than that area, but with the support and resistance becoming more defined and the range tightening I feel comfortable is in a good spot.
I find it very interesting how the daily cloud (traditional settings) on alts are turning bullish and threatening very nice long entries - if they can close above a thick cloud closely after the bullish Kumo twist. The best entries can happen when multiple signals come at once.
I am speaking of LTC and ETH specifically and it could be that they are front running a bounce... the cloud on BTC is nowhere near either of those metrics. Looks primed for one final dead cat bounce to trap in the last set of FOMO buyers who still have money before the rug gets pulled out from under their feet. Judging by social media there are still plenty of morons who have money and the market will remedy that before this bottom is found. Bitcoin dominance is at resistance (~50%) and appear to have just created a lower low, which is a strong signal of a potential alt bounce.
Again, if you want this bear market to end that this the last thing you want. We need BTC to break that resistance and get back over 80%.
BTCUSD - Bullish Dream BTCUSD looks like it'll soon follow ETH in its bullish moving ways.
ETH has broken out of an ascending triangle, after being bullish at resistance. BTC is painting a similar picture, and I fully expect it to do the same.
The targets are highlighted above. We're looking good so far.
Ultimate Target = $5500
BTCUSD - Simple BULLISH Inverse H/S - ExpectationThis is what I expect BTCUSD to do to start the New Year off
We are still quite oversold on macro timeframes, and this Inverse H/S everyone is watching is painting out like a work of art. This is what I expect to happen.
In the event the price breaks through the neckline (~$4300), long the bullish retest and enjoy the gains up to $5500!
Happy New Years!
Bitcoin - The Greatest Bear trap coming next(?)Update for Bitcoin:
The current state of Bitcoin is showing quite a lot of similarities than what we saw in June.
Back in then the price already had formed a bullish divergence which many people believed would had lead to an instant upward movement. Instead it got rejected by the resistance level and retested the previous low level which lead to an upward movement. Shorts were opened during this dip and it lead to failures.
Currently it's forming a bullish divergence, is at the bottom of the channel and it's getting rejected by the previous resistance level.
According this fractal study that I have created it's going to test the previous low and which makes bears to open more shorts but instead leads to an uptrend.
Keep in mind that fractal studies are generally showing different possibilities and what could happen if it follows something very similar what has happened in the past. Different market scenarios are never exactly a like but there might be changes due to the various reasons.
Trade careful out there!
If you come up with any questions feel free to ask!
Things to Remember:
Stop-loss orders are strongly recommended.
Fomos likely lead to a loss.
Do your homework before investing or trading.
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
BTCUSD Simple Bull Pennant/Flag - Dec 28thThis is a smaller time frame bullish continuation pattern that seems to be playing out.
Look for a touch of $4200+
This recent move is extremely bullish. The macro inverse h/s is surely playing out with a bigger target of ($5500).
Keeping things simple.
Stay safe.
BTCUSD Inverse H/S - Christmas EditionBTCUSD painting a very clear Inverse H & S pattern, on a fairly large time frame. A bull's dream in the making.
All eyes on this, to see if it plays out, we're 75% through forming this right shoulder
A target of $5500 in sight if this works out.
Keepin' things simple
Trade Safe, Happy Holidays!
Revenge of the Bitcoin BullsShorts are at 42,000 a record high meanwhile we are currently sitting right above the 200 Weekly MA. Sentiment is extremely low but we must keep in mind that we are long overdue for bounce and with this many short outstanding and strong support nearby; it makes for a good set-up for bulls.
As of typing we are at $3500, the next rally could easily blow past $4,000 with many shorts liquidated and I think it'll likely happen pretty soon.
Bitcoin Fools"The main purpose of the stock market is to make fools of as many men as possible."
-Bernard Baruch
If Bitcoin were around 100 years ago Baruch would have been more broad with his quote. Nevertheless it is apt to all markets.
Before the last selloff there was much buzz on the Discords about a big move coming in Bitcoin. I do not subscribe to any of these Discords but I hear second hand. One trader showed me the BTCUSDSHORTS chart. This chart tracks the open interest in short positions on Bitfinex. The trader that sent me this gem had an interpretation that as the shorts were drying up... it meant that Bitcoin was going to go long. I found their reasoning to be completely backwards. Just to put my money where my mouth was; I did go short a week before. Being a contrarian paid off; as it does in the long run for any market.
As far as predictive indicators of market timing with Bitcoin I would have to cite the relationship between BTCUSDSHORTS and the underlying price as the most useful at the present time. Nearly every time that shorts were at a major high, meaning the most people were betting on a bearish move, the market instead rallied or continued to consolidate. I would chalk this phenomenon up to either the wisdom of Baruch, traders naturally chasing the market, or perhaps both as a unifying theory. The bottom line is; the market will not let the most traders have profits... especially now when the bubble of 2017 is long past.
In the future and until it proves otherwise this comparison will serve as a valuable indicator to traders and I highly recommend it be integrated into any long term to swing trading analysis. My present interpretation is that the opportunity for going short is much less attractive. A "record" number of short positions are open at the moment. Shorting Bitcoin is the most crowded trade. Even if Bitcoin goes continues bearish the reward does not justify the risk.
BTCUSD - MOVE TO UPSIDE EXPECTEDBTCUSD has retraced to Fibonacci retracement
level of 0.236 (3684.46). This does look like a
good place for the move up to around $4500. on
the other hand a move down could push price
down to around $3300 :(
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