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Bulltrap

Traps and TargetsBeen very busy and its been a while since I posted. Apologies for that and thanks to all of you who keep up the good work. In two minds here, which is a typical predicament with trading. The 15th October spike that popped through the top of the long term triangle has been seen by some as a bear flag, and I can see their point, but for me there is more compelling evidence for a bull run. In the immediate future my thoughts are... Currently BTC is looking to pull back before the next push. However there is a lot of pushing going on and the pull back is struggling to get a foot hold, so we keep getting sideways movement. As a result I foresee a small upward movement above the very recent resistance triggering a small sell-off (Bull Trap). This will then drop down to the support, the 'RSI 1Hr will hit oversold and bounce up to higher resistance levels (Bear trap). 'BTC will break out of the long term triangle and the 4Hr RSI move into overbought territory also. How high it will go I am not sure, but will certainly be keeping a close eye on it. This is all my opinion and its probably wrong ;)
COINBASE:BTCUSDLong
by reppac
1
XRP Bullish scenarioHi there, This is my vision on XRP if the bulls can overtake the bears in the coming weeks. On the daily XRP is forming a bull flag with an ascending triangle and it's been finding support on the 200 daily. If it is to break out we will probably go above the previous high. Now volume is important to give it momentum, xRapid adoption or speculation might cause this. Shorts are also picking up again so another short squeeze when we break resistance is also possible. There are some mixed signals at the moment, we also see a double top which makes this look a bit like a bull trap. There are points to be made on the bear and bull side. However oktober till december are historically good months for crypto so i'm leaning towards the long side here. XRP makes a lot of vertical moves so it is important to keep an eye on this if it breaks out so we don't miss the opportunity. We probably see this play out somewhere around the 15th. Comments, critics, and different ideas are most welcome. So if you don't agree with me please let me know, i'm always eager to learn.
Long
by Bittimmer
BTCUSD bulltrap idea Current short term situation looks like the bear flag has been invalidated. With a 1D close above and test of the top trend, it is a safe bet that BTC is going to take another leg up to $71XX or possibly even extend to $78XX. Alts should follow as long as BTC doesn't move too fast. However, we are still in a bear market so we must remain cautious. If my theory is correct, this will be a fake out to trap longs. Twitter sentiment has turned bullish, many people seem to believe the bottom is in so its possible this is just a bog. Not to mention we have the shorts that can fuel it, shorts closing will be another good psychological trap. Fake out to -> drop will be invalidated if BTC climbs above the top trend at $78XX and confirms support. ---------------------------- My position; ---------------------------- Entry : $6759 ( and below ) Target 1 : $7074 Target 2 : $7747 Stoploss : $6647 ( Also suggested to trail with stop loss once the move has begun ) ---------------------------- This is not financial advice, I am not your financial adviser. This is explicitly my own opinion and should not be treated otherwise.
BITFINEX:BTCUSDLong
by dalvinchi
1
Fake Volume on Bitcoin makes it a Bull Trap!A lot of altcoins are going up which is a good sign for the market to recover. We have got a lot of good news about Bitcoin these days but do not be FOMO. It only looks like another bull trap. Do not fall for it. The volume of Bitcoin is absolutely weak and does not show any sign of an upcoming bull market. We would better wait for better signs as Bitcoin is really struggling to get over 6,600 and seems to fall hard to around 5,200. If you have made some profit on altcoins now is the best time to sell it and find new buy opportunities in the future.
BITMEX:BTCUSD.PShort
by exclusive_signals
2
WHITHER DJIA?! MOON SHOT OR FISH TANK!?! COMPARE TO MAY CHANNEL After Tuesday's short squeeze a lot of us got stopped out and irritated bears are wondering; "WTH is it DOING?!" After I calmed down a bit, licked my wounds and smoothed out my fur, took a hard look at the chart. Then shorted again today. Pattern now unfolding looks a heckofalot like May's behavior after the runup three months back. Now Tues looks like a BullTrap and yet another fakeout squeeze. Notice the same 'double-top' action, short-squeeze after first downtrend fakeout, then a descending triangle leading to the sheer drop. Significantly, May's pullback was 0.50 Fibo only and did not test the channel bottom. That came later, in the June Swoon. Elliot wave theory 'alternating wave hypothesis' suggests that a shallow wave is followed by a deep strong trough, in turn by a shallow wave. Maybe bullhockey, but after the strong cup-and-handle breakout in July I wouldn't bet on a really steep/deep decline. Could happen but...?! Possibly a .382 Fibo = 25020. Strong support now at the former resistance level could springboard the index up to next bullish impulse, note horizontal arrow > support tested, retested in cuphandle. If S1 breaks: S2 at 24844 (Fibo 0.50); S3 at 24668 (Fibo 0.618; tested in the cup); S4 at 24418 (Fibo 0.786, bottom of the cup), which lands squarely on the lower trendline. Notice: Height of triangle in May = depth of drop; if we get that again in August, Dow might retrace to 0.382 Fibo and bounce. Don't get squeezed- watch it real close... Also noteworthy: one page contributor has observed the market highs/lows have coincided with Moon phases - high 24585 was at Full Moon 07/26/18; look for a low around the New Moon on Friday, 10 August, eh?! Maybe silly but there it is... Test of bottom trendline would be a long drop, and seems unlikely now, but the damned thing has already done the impossible, so don't count it out. Other similarities suggesting imminent corrective wave: 'exhaustion gap' up on Tues followed by rapid retracement; a 'shooting star' Weds attempt to recover to Tues HOD but fell short at 25480, rejection leading to strong selloff end of day; low volume on up days, increasing volume on down days; RSI: Neutral. August is tied for weakest month of year with October. BUT August is also often a 'pivot month' in which the trend reverses. SO; whither Dow? Maybe a little off the top please, then resume the Moon shot... Good luck traders! > "Going to the Moon... after a brief detour through Pandemonium and Nether Regions"
DJ:DJIShort
by DaddySawbucks
Dow Double Top Signal: at or near pivot in reaction waveBestimate projection for Dow going into August, tied with October for weakest month of the year. Coming off a strong rally in July, odds favor more volatility. Dow appears to be in a corrective, reactionary wave cycle: 'A' wave from first top 07/26 ran down to the flash crash Thursday 08/02 (Label 'W' of WXY reaction). Notice labels for larger primary trend are ABCDE, so I used WXY for the reaction and 12345 for the minor wave cycles. B wave of surprising strength carried index up to the 0.786 Fibonacci retrace (label 'X'). A complete 5 wave impulse in this reaction wave is apparent (labeled; 2-hr chart). Dow banged on ceiling at 25500+ but pushed back, expect at least one retest. To continue the 3rd primary wave from here would require advance to higher high of > 25650 to meet top of rising channel; if index fails to retest channel, then this second high becomes part of a reactionary wave, rather than an actionary continuation of the primary. Expect C wave (Labeled 'Y') to be shallow (Elliott alternating principle); bullish exuberance returns to the markets, buying the dips is back in fashion. A .382 retrace would carry back to 24982; a 0.50 to 24794. A 0.618 to 24606 is quite possible, if anxiety returns to world markets. Time frame for wave C: 5-10 sessions. Very nice analysis at this link presenting two alternate ending plots: www.scienceinvesting.com Comments are welcome; Good luck traders!
DJ:DJIShort
by DaddySawbucks
7
Titanic *SPOILERS*: It's gonna sink!You can see that T5 is a confluence/intersection zone for 3 pitchfork channels, a green horizontal resistance line, D1 EMA 200 and RSI Bands. We're overbought on all TFs, not just the daily, maxed out on RSI Bands, so the only way is down. We will consolidate/move sideways for a few days until the futures expire (between 7500-7800), then have a some sort of a sell-off. Another small move upwards to touch/break EMA200 and the upper channel of the triangle and pullback quickly with a long wick on top is possible after RSI cools off. We didn't get overbought on D1 even in April, we won't now. In 2014 we went as high as D1 RSI 73, that's why I consider this last leg a possibility. And just now we also got a double top at 7800 supporting a pullback. Good Luck! This in not a financial advice, please use at your own risk! Confirm or Disprove using other ideas.
COINBASE:BTCUSD
by RagingRocketBull
5
$LTC Want to go $90 in Next 15 days.. here is why Most People did not believe it would happen, and still don't. I have a prediction that I have all been hit and I have got a chance to get my goal. i bought ltc at $ 7 dollar and sell my $ltc at 310 dollars. since the price is downtrend due to btc bearish. While 99% of Trading View authors go with the Wind, changing their idea everyday, Moving Water stays on track, and now, Big Fall, first predicted on May 6, is ongoing. LTC next target is hitting at 90-100 in th chart, hope it will hit like my previous prediction in my old trading view channel. Follow Us here and get next move of big coins. Also the next move of ur coin on your demand. Direct message (DM) to me for the coin.
BITFINEX:LTCUSD
by cryptobitt
Long Story ShortJust a reminder, be careful as this could be a major bull trap and the start of 2018 capitulation. All this crazy pumping from nowhere could lead to a drop to 4K as in 2014 Bear Market Capitulation. We had the same type of D1 death cross, have breached D1 EMA100 and are now testing W1 EMA50, also have D1 RSI oversold and could not break the triangle bottom. You can judge only by looking at the Daily since there's no H4 history of that event on TradingView, so, this is a rough estimate that could be inaccurate. Still, use caution. Good Luck!
BITSTAMP:BTCUSD
by RagingRocketBull
BTCUSD Bulltrap being set up by market makers?Yes, sir! I think so. Best case 5k, most likely will dump right through to 4k. Then relief rally (up to 7.8k), then big dump and bleeding to death, who knows where the bottom is? 1.8k zone decent chance, neutral case 3.3k. Worst case 3 digits. This is the signal the current market makers have left on the historical chart for Bitcoin in my and many other analyzers' views. It seems they favored "white" cme us dollars $$ over any lambo and moon dreams you have. Bubble still has not bursted in dramatic effect (some $1-2k instant red candles), that is still reserved for the near future. Bid side orderbook almost non existent up to 5k on the biggest crypto exchange in the world, even the static orders in total compose less than anything above $5.5k (the current trade zone), which means over 50% of the buy orders on bitfinex are the same traders who're playing each day - analyses performed on the orderbook and traded volume of bitfinex and bitmex last several months. One huge capitulation candle can determine the faith of bitcoin to the likes of the gold and uranium chart, be prepared this is always a possibility (aka mt gox trustee or his clients selling their bags). All my ideas are my own and this is not financial advice. Have a wonderful summer!
Short
by CryptoSwindle
254