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BTC to test it's limits?Looks like BTC might want to test the limits before a bounce occurs, a lot of support lines have been demolished on the this brutal fall. Big institutions wan't BTC dead, media FUD and conspiracy causing the weak hands to sell into the grubby hands of the big players. Like taking candy from a baby we could say. The whole reason BTC exists it to fight against the "man" and his big brother status, this is another attempt to secure control of money in this world. This is the chance to take back as much control as we can, they can't win only strengthen their position in the inevitable outcome. This will be the biggest transfer of wealth the world has ever seen, are you going to fall for the FUD and manipulation? Please be careful shorting at this period of time. BTC has proven resilient against all crash/fud in the past, so why would it be any different now? The crypto market only really began in 2017 to 2018, markets like this cannot go away during one price correction. Don't get me wrong, BTC was bought up in a parabolic move once again and a correction in price was expected by hodlers and traders alike. When history repeats itself, are you going to be a winner or a loser? A hodler or a seller? Only time will tell. Pick your side, for or against. C'est la vie!
BITFINEX:BTCUSDLong
by UnknownUnicorn89296
1
Where are King BiTCOiN Next SUPPORT and TargetsI have been asked to specify with price levels the next targets of the all mighty Bitcoin. I would not say it is easy but given the formidable rise in the past and since technical analysis is all about studying historical prices, well there are very few interesting levels to analyses. So I picked the daily chart (Weekly chart is the typical Bubble chart which was extracted by the Tulip Bubble in the 17h century, The Wall Street Bubble in 1929, the Asian bubble in 1998 and the Dot Com Bubble in 2001 to name the most popular...ahh and forgot the 1987 Black Monday...) which helps a little to figure out the congestion areas. We just reached one, which is 8000 where price has been hitting some days before managing to break though (I still remember the glorious titles when the price went beyond). So I would expect some take profit at these levels by professionals who are happily selling big amounts of futures. Given it is Friday it may way hold until Monday. Remember Hedge Fund trader take Saturday and Sunday off to enjoy and spend their gains. So after we broke 8000 the drop will accelerate to 5000 and to continue shorting I will want to see a daily closure below 8000 (normally I wait 2 consecutive closure but since we are in a bubble burst behavioral analysis comes helpful) on the second day I will watch the market open and if price is heavy an see no buyers I will not wait the following day to sell. Now, I mentioned 5000 which is more a psychological support than a real congestion area so I do not believe it has the strength of 8000. The level that I look for as another major support will be 3000. When we will get there I will post again as a breach of 3000 will be really painful. I have my major take profits at that level and will re-initiate shorts with 2 closure below, same full capacity. Remember my motto: You make more money in a shorter time by shorting....anything. Last note, Why 8000 is not a buy level for me: I use a personal Bollinger Band set up which I have been testing for ages and feel really comfortable, unless it touches it my set up does not allow a trend reverse. After it hits the Bollinger Bands I use two other simple indicators before assessing the trend reversal but that is another story. For info the BB set up is 50 periods with 2.5 Divergence. Good Luck...or S..T as we say in my country.
COINBASE:BTCUSDShort
by TheForecaster
BTC, The moon is in the well.Have you ever read the story about the fox, the wolf and the moon? It was written by La Fontaine. To sum things up, the wolf wanted to reach the moon but an optical illusion made him chase it down a well...where he drawned. This tale is both simple to understand and actual since people are still trying to chase a "moon" that could definitely hurt them. Aside from that, the analysis shows a bear market. No news in that. The 8k support level I identified on Jan 17th (see related ideas) still holds, with a second support at around 5500$ in case the first one is broken with supporting volumes. Notice the "death cross" on the 12,26 MACD...this fall is not supposed to stop soon. The entire Bitcoin cycle is definitely into the "fear/capitulation" phase. No wonder things escalated pretty quickly. Best trade here is no trade and keep liquidity. As usual this is not a trading advice, merely my idea. Stay safe out there!
BITSTAMP:BTCUSDShort
by SteveEnnom
The Big Bitcoin PictureHello TradingView, I wanted to post a formal update to an idea that I had at the beginning of December. I also wanted to integrate an idea I had later that month into an overall picture. These ideas where posted almost 2 months ago and they are very accurate. I spent a lot of time researching and building an overall perspective on this market and from what I understood, a few of the forces that move it. What's going on in this picture? The light gray and red lines are direct copies of my prediction posted on December 2nd. The blue line is an updated version of that based on the fact that I underestimated the tops, I provided the differences from the reality and my prediction and applied it to it's bottom. Coincidentally they still correlate to potential support lines and what could turn into bitcoin's support. The red, yellow, and green boxes were recommended buy and sell zones from my idea back in late December. The new blue box is a range in which I believe the bearish momentum may turn sideways and allow for bullish volume to resume. Anything else? There are so many voices in this crypto space (especially involving bitcoin) it's sometimes hard to hear yourself think. I posted this 2 months ago to log my ideas and see how they progressed. I have been impressed at how close I was and want to reiterate a main concept I had back then that fueled these predictions. I thought that the exuberant growth and popularity of bitcoin was a bad sign, it was indicative of human psychology doing what it does and repeating the past. Markets don't change because humans don't change. So when I saw everybody and their uber driver talking about crypto it was obvious to me that too many people were excited. When everyone is excited and it seems too good to be true, smart money shuts up and waits for their opportunity, waits for the impressionable and emotional masses to do what 'we' do best. Do they have an influence in spreading FUD like South Korean news, India news, futures speculation, the tether scandal, bitconnect scam, etc... Do they have the power and the influence to push fake or misleading information in the case that it benefits them? Perhaps they do. One thing to consider is you don't need some Illuminati-esk entity to cause this, a few well placed/timed media releases or a few million USD in timed sell or buy orders by various influences is more than enough to stir up the masses to do what they want. It doesn't matter if it's a pebble or a boulder thrown in a pond, the ducks and minnows will still all scatter. Think about the state cryptos were in during the parabolic rise to ~$20k. ICOs were the wild west with scams happening daily, bitcoin's network was congested and backlogged by 100,000's of transactions, fees at an all time high. Yet the price still grew. Consider that currently the lighting network has 400 nodes operational already (a feat that will make antiquated bitcoin compete with even the newest, shiniest, value-transfer coins), think of the upgrades happening to Ethereum this year, think of atomic swaps that are quickly developing. Yet the prices are still going down. Who is talking about the positive developments being made daily? No one.The market is red. Everything is in the red. That's all the masses can see. Take advantage and buy Bitcoin and Ethereum (and other actually promising projects) at these prices that we will never likely see again. The technology is real and ground breaking and the people that have pushed it to $20K never understood it to begin with and I'd bet they are nearly shaken out of the market by now. As it's happened before, institutional money has taken their billions and are playing in other sectors (probably equities at the moment due to the new tax plan) and will return when the price has hit it's rock bottom. They will buy as much crypto assests as they can while the price is this low and repeat the process once again.
BITFINEX:BTCUSDLong
by WagnerBraga
3
The reason why I'm outAs you can easily see, the market is currently very shaky. We are in a long downtrend, so I switched to fiat. I also warned you in my last analysis that we were in a big bull trap. Likewise, the tether bubble causes me pain because it would collapse the entire marketplace. What also bothers me badly is the fact that almost everyone knows and talks about bitcoin. It has become a kind of mainstream. Earlier situations, such as the tulp or nasdaq bubble have shown, it is then time to keep distance. How should all the exchanges repay the money to people in a breakdown? How long would it take if they find it difficult to answer the support tickets? What happens when big exchanges get hacked? Everything will lead to a big chaos, where many will fear for their money. Also, many have forgotten that in march - the month with almost always a negative message - there are regulations of large countries for Bitcoin. And what about the prices? In my opinion this is no longer a healthy growth, as anyone with some understanding can see. Many Altcoins, which are either useless or have not even a finished product are with their market cap at such a high level, which is unnatural and makes no sense. Many people dream to become rich in a year and you can see in their eyes the greed, which leads to see the whole situation with too much optimism and I am pretty sure that exactly the opposite will happen. BUT: Of course, I will continue to trade with a small part, but with about 80% of my capital I am out due to the whole situation. Also I am sure that bitcoin will be worth a lot more in the long term but this year a big and long correction is waiting for us even if some do not want to admit it. For me, the perfect time has come to start from distance with margin trading. If many will think that it was the end of bitcoin, then the time has come to reenter again.
BITFINEX:BTCUSDLong
by E557
14
BiTCOiN Target 50% DROP AHEADBiTCOiN ?!? Well.... well..hummm...not so well in fact for the all mighty King BiTCOiN . The closure of Friday suggests another wave of sales...with a little 50% down target (these are performances normal for cryptos and not only towards the upside). While pushing the forecast for a drop of 70% in 1 month. So I would definitely continue to sell the Futures on Bitcoin ....they have anyway been created to serve the purpose of allowing huge short positions by pros who held large stocks and hedge funds who love to short...And as always screw the last wave of excited non-pros....for which I feel really sorry...but it is always the same story with financial BUBBLES...a very little selected group makes big money on the back of all the herd. And once again it is about emotions: Greed and Fear. You want to make money in cryptos? Sell Bitcoin..sell futures or buy put options....but please don't buy Bitcoin now... what about all other tokens and ICOs out there? Well... Well. I definitely now move to Fiat... whenever possible....I Posted my first warning in November 2017 on my Instagram account DOGEMIKELE , it was a bit premature as Bitcoin continued to rise, however that was also an indication that we were on the last stage of the BUBBLE. PS: I will try to be consistent with my posting, I'm a hedge fund manager and have been trading for the past 28 years so I believe it is Give Back time and I figured out that I am capable of doing it is by posting my signals and behavioral analysi s (a field that encompasses technical analysis)
BITSTAMP:BTCUSD
by TheForecaster
2
Bitcoin FUD Over?__________ Brief Overview __________ What a bloodbath in the cryptospace these past few days! This is another example of news blowing information up and exagerrating it. The primary hypothesis is that this heads back up to test 12000 where we will see exactly what price wants to do from there. __________ Technical Analysis __________ While someone pointed out that there is a descending triangle forming on the chart, that pattern has already played out! Price has broken beneath the flat bottom at $12,000, managed to stay below, and now the initial reaction should be a retest back up to $12,000. Stops on crypto are a bit tricky during times where FUD (Fear, Uncertainty, Doubt) plagues the market. Since the volatility of this market is so high, stops have to be adjusted. The usual rule of thumb is that price should not breach the 50% retracement when making a move up, however, in the case of Crypto, I have see the price briefly tap up to the 38.2% retracement and still continue to be bullish. Ideal entry- Mid 9000s/Right now in mid $10,000s Stop Loss: $7500 Targets: (1) $15,000-> Initial resistance area. (2) $17,000 (3) Breakout above $20,000 MACD: No sign on the daily of any reversal in price as of yet. Stoch RSI Not confirming upward movement yet. The ideal way to enter is through dollar cost averaging. I would still not be surprised to see price test inside the $9,000 level again, and I think this will present a good buying opportunity.
BITSTAMP:BTCUSDLong
by Acaicrypto
A horrible year for Bitcoin and the crypto marketBefore you speak my idea badly, read through the entire text: There is no sign that the rally continues this year, the bubble will burst! Why do you think the bubble will burst? The question is easy to answer: Since history is always repeated in the world of trading, it will be the same this time. It's just unnatural how bitcoin has gone the years. It is not possible and it would be bad if the run continued. Many coins are way too expensive for their circumstances. Most of them either have no real use case or no finished product. In addition, the technical analysis speaks also against a bitcoin increase. Even if some do not want to admit it: > MACD makes a bearish cross in the weekly chart, which he did 1 1/2 years ago. > RSI over bought since more than 1 year. > We are about to confirm a candlestick under the EMA, which he did ... I dont know. > There are also areas that we have not tested for some time since the rally - $7500 and $5000 But what does that mean? For us it simply means that it will be a year of correction. Nevertheless, it is possible to end the year of the correction with profits. And my goal will be: To get each one of you to have a profitable year to make the next even more profitable! Stop being so optimistic and greedy, otherwise you'll lose!
BITSTAMP:BTCUSDLong
by E-55
21
R.I.P. PLE - The bloodshed continuesAfter my previous analysis on RIPPLE was a bittersweet victory - althought the initial stop loss was triggered and RIPPLE reached new high - all of three targets I marked on the chart were hit perfectly - 2.1, 1.7 and final 0.9 , giving very good and profitable outline for XRP shorts. This time I think we have very interesting and uncommon structure - the extended zigzag. According to Elliott, all extended waves have +4 to their original wave count, so extended zigzag should be 3+4=7 waves. Right now we have slight rebound after this short, drastic fall. Targets for entry and rebounds: Sell entry (safe): 1.26 Sell entry (bit greedy): 1.31 Target 1: 0.9 - rebound expected after that Final target (most possible): 0.6 Final target (extreme): 0.4 - if that target is reached, very strong rebound will happen in minutes after reaching it I'll update the targets when the situation will unfold. If you are interested, you can also see my Bit.coin short analysis.
BITSTAMP:XRPUSDShort
by thewhitefox
5
HSI / 2008 vs 2018 : Feels like "Oops I did it again" !!!The comparison is easy, the debt level is even crazier than during the last credit bubble that bursted 10years ago.. Real economies just started to get over it but it seems like traders haven't learnt anything for the previous crisis !! As I always say... trading is about cycles and no matter how ofter I hear "This is different now..." or things like that... the thing is that cycles repeat through time.. credit bubbles or speculative bubbles have always burned the markets even though the economy was looking good and strong... Will we repeat the cycle again... I tend to say yes ! But it's too early.. Sure thing is that I'll have a close look at what could happen on the same fibonnacci extension than the one that triggered the previous krash ! Just in case ;) Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
TVC:HSI
by PRO_Indicators
8