BTC in critical state.. Visualising its outcome..And here we are at the aftermath of 2017..
The sentiment is right. Everything feels like BTC and crypto in general is on its rise again. But the ghosts of 2017 is still hiding in the shadows. I believe that we have had the lows, that I was talking about in my previous idea at around 6.4k.
The sentiment has alot of real value with it this time around. People are anticipating the halving in around 90 something days from now. For good reason cos the logscale narrative is intact. Further more there is the development of taproot/schnoor signature coming up. And the SEC has has a proposal for a 3 years "safe harbour" for crypto. Meaning non constrict regulation for cryptos that within 3 years can prove its development as something useful.
In my opinion there is more to it than meets the eye. And it sparks alot of positivity in the crypto market. Hence the rise for now.
For now BTC might see a pullback to around 9.6. But being short is risky at the moment. We might get a breakout to around 10. The hard part is to stay above 10k cos it is a MAJOR resistance. all the way back from 2017. But if BTC succedes at staying above the 10k line and cosolidating there. This support will become a new MAJOR support. Now if we imagine we get there, the price levels of BTC will now chop around inside the top baseline and bottom baseline of 2017. At this time around the halvening is in and thats when I think the bullrun of 2020-2021 is going to reach new ATH.
Now where we top out, is up to you to find out. Cos at that time everyone and his cousin and the taxidriver has got the Eminem Syndrom "palms are sweaty, knees weak, arms are heavy"..
Now go eat your moms Spaghetti and make a plan..!
P.s When we top out I believe a retrace to 8k and 6k as the bottom floor!
Bullrun2020
Bitcoin 10K Next?Good day,
First of all i would like to say thank you to all who have supported my previous ideas with feedback, means a lot for me.
I would like to point important price levels for Bitcoin, which play important role in overall market strcuture and could give us indication where we are headed to.
6500$ -- Current swing low and possible "The Bottom"
7750$ -- Previous range high, held as support by bulls.
8500$ -- Weekly equilibrium and 0.5 retracement on fibonacci which will mark current fair market value.
9300$ -- Huge Supply zone, lot of long positions looking to exit at breakeven price.
If we manage to close and open high timeframe (4H / 12H / Daily / Weekly) candle above current weekly equilibrium (8500$) i expect market to push into 9300$ supply zone. If we are not able to close and open above weekly equilibrium i expect price to return into previous range demand zone at 7500$, high volume close below 7500$ would invalidated current uptrend and i would expect return to current swing low / lower low.
We have to keep in mind that we are still in bear market and havent been able to break market structure yet, always keep your risk managed and use stoploss to protect yourself.
Good luck everybody,
Stay safe.
Inverse #Head&shoulder on #bitcoin, 1474% profit within a week!?I do some of my best work when I am half asleep lol after we broke 7160 I expected 6900, I didn't give a proper signal as I was still on holiday fever & market had some of the lowest volumes however what I did was I shared this chart on 2nd Jan & boy was that the perfect entry :O
I missed the entry though & I went long at 6950 when I woke up was able to close at 716x for a good profit, early exit & late entry :-/
however it is not too late, now we are at the H&S neckline resistance, we can wick up 75xx but it's the candle closes that really matters, so keep an eye on 4hr chart, be patient & wait for the entry at 7087 which will also be 61.8% retracement from 746x level, I will keep updating the chart as we progress
if we get this trade right on cross leverage we will have 1474% ROE & will have rocking start to 2020!!
you can also use Leverage on Bitmex or bybit to multiply your profits but remember Leverage Trading is HIGH RISK So is Crypto trading & that's why I am legally obliged to say
#DYOR
remember I am not a financial advisor & this are all just my thoughts :)
make sure to leave a comment & if you agree then hit that thumbs up
Do not forget to check out other ideas & do share it with your friends :)
#Litecoin 690% profit in next #Bullrun, #BearishBAT in process?#Crypto #Bullrun2020
#Litecoin is Back in #Accumulation Zone, I have been charting Major crypto for accumulation & I believe 2020 will be the year we will see some good action from #Crypto.
as you can see on the chart there are 2 possibilities, we are in process of building a Bearish BAT that should pump the price from the support level of 36-25$ all the way to 300$ along with it we might be building a Double bottom pattern as well that should get us to at least 138$
Another one for accumulation is #ETH -
make sure to leave a comment & if you agree then hit that thumbs up
#DYOR
remember I am not a financial advisor & this are all just my thoughts :)
BTC Accumulation before 2020 Bullrun Hello everyone
Today I want to present you my opinion about situation on BTCUSD chart
Now we are in downtrend channel but the situation is going slower and slower.
At purple boxes I marked possible acummulation zones with some volume strikes inside them.
Also You can see a green horizontal line which now is a ressitance but earlier was a support, so until the price will go higher than this line we are still in downtrend but also we can see possible bullish triangle between purple and green lines.
So for me this is time to focus at trading to multiply your amount BTC.
For me the best strategy is using options and also set a strangle or straddle strategy and make money wherever price of BTC will go!!!
Still feeling great about my BTC projections.Key positions for me:
$6800- opening a small position and waiting to see if we get a lower break
$6400- again waiting for a lower break if we find support here
$6200- opening a strong position but keeping some aside in case of another dump
$6000- my golden buy zone. Ill be monitoring it around this area and even going to try to see if I can catch a lower wick at $5800.
As you can see my chart is not about riding the ups and downs of bears/bulls. I'm looking for huge longs, 2x-3x gains and Bitcoin on a MASSIVE yearly scale. A longer wait for returns but with very little risk if any at all.
I put this to the test once a drew this and ended up shorting the coin over $3,000 after the bears started bleeding. I'm feeling very confident about my projections just take a look at the chart. How can we not expect huge returns if we are purchasing $7,000 or lower?
The real question is how low can you open those positions? ;)
-CosmicMatter
Feedback and constructive criticism is always appreciated.
As an Investor/Swing Trader, When to Buy Bitcoin?First & Foremost this is Based on monthly timeframe please do not follow this for Bitmex or Any other leverage trading, This should only concern the INVESTOR or A swing trader who is looking to Buy Low & Sell High.
Trade the market in front of you, not the one you want!!!
– Scott Redler
Whether you like it or not you are reading this means you are very much interested in this CRAZY IDEA, lot's of people say I am nuts to say Bitcoin will go to 3k levels again, well maybe I am or I am more than confident enough with my charts. whether you like it or not you need to accept the fact that monthly candle we are building right now is extremely bearish. (Candle not yet closed will comment once done if anything changes)
So for the long-time trader/investor who likes to do swing trade, Best R:r trade for bitcoin I can give you is this one. on 9th of September, I tethered out & I am more than happy with my actions. now I will start scaling in Bitcoin once again at 75% cheaper!!
Here's the trade for anyone interested
Buy - 5000 - 2800 (use only 10% of folio)
Start scaling in from 5,000$ with 1% - 2% - 3% - 4% of overall folio
Targets - 7761 - 10034 - 12307 - 15543 - 19666 - 27640 (New All Time High)
Stop Loss - well frankly you don't need one lol but still if u want 281$
This is the reason why I suggest using only 10% for this trade, Invest only what you can lose!!
Bearish crypto-market in the works!as you can see, XRP has formed a bullish pennant and now with the triple bottom at play the pattern shall be fulfilled until it reaches the key level of 0.269000 before it melts to the likes of 0.24800, and even lower if the ground holds.
i believe the market will see a tap of the 0.22, 0.20 and the likes of 0.18 before and the at the early stages of the launching of BAKKT before the market puts on a miniature bull run to prepare us for the upcoming 2020 bull run.
It can be called today: The Bitcoin BullRun has started! BullishOn the weekly Time Frame, You will notice this symmetrical triangle created by the 2017 XBT Explosion. Triangles are continuation patterns which means: since BTC was on a move up to create this triangle, let the price bounce around against the walls of the triangle for a bunch of months. Between mid fall to mid winter, Expect a bounce from 4K to 5K and then ultimately a 20K retest.
What this means is to find a good place to short this and then go long at the bottom and enjoy the ride. Be sure to take out profits on the way down and on the way up. The Bitcoin HALVING which is taking place in MAY 17, 2020, would provide a great catalyst to propel the price to at least 20k again.
Do not long until btc hits the bottom between 4k - 5k! There is a (blue) 786 Fibonacci line around $4800 which it should bounce of and can use it as support But be careful, because this could even wick to 2700. Layer in your longs and never go all in!
$XRP: Sideways until March 2020, with $30 moon shot EOY 2021 ?Hi everyone,
Welcome to another macro TA on XRPUSD.
This may be an unpopular chart as it shows very boring movement this year 2019, even until late March 2020. Many weak hands to be shaken off out of despair from a seemingly lost investment. Many in the process will lose faith in XRP as Ripple the company continues to shine with no price appreciation for XRP.
But it is not an unlikely scenario - in fact I am starting to lean towards it as it makes sense on 2 fronts:
1- gravitating around that longterm trendline in boom and bust cycles
2- the length of time it took to takeoff in the previous cycle, also coinciding with late March, going full bull into EOY.
3- XRP going full bull exactly at the time where most retail investors have sold or lost hope, bringing max pain to all.
In this idea, XRP goes in raging bull mode as of late March 2020, hitting a target of $30 per XRP at EOY 2020, then entering another longterm bear market down to around $2.5 (92% decline as in 2018).
N.B. I must note that this analysis is based on a speculative XRP asset, with real XRP utility still being low in the coming year and a half. If otherwise XRP becomes widely used and adopted, then of course a utility-based bull run would change everything, and no one knows how to chart that one!
Hope you enjoy this analysis.
Cheers,
Leb Crypto