IF I WERE A BITCOIN ON TODAYLet me start by saying I'm definitely no permabull for any pair, commodity, etc. I'm loving the current positioning of the BTCUSD joint though. Here's much of what I'm looking to play out. Bold yellow lines are heavy support (imo), the thin yellow line appears to be a possible bottom-trend-line (tbd). You get the idea though.
*trade at your own risk.
Buybitcoin
BTCUSD BUY 09.10.2019BUY signal at 8221$.
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Bitcoin, if I'm waiting for an even much lower price, where?If I'm waiting for a much lower price to buy bitcoin, where will it be?
Well, you might just be in luck. A bullish bat pattern might just form up. Tonights NFP might be helping you to achieve that or against it.
1 of my friend has bought 20% of his intended purchase of bitcoin last night and maybe 30% to 50% more when it reaches 7900USD.
I must say I'm no expert in this product but is certainly a price 7900 for a next major reaction.
Where Am I Buying BTC?COINBASE:BTCUSD Buy zone for my personal BTC buy shown on chart. Main point of focus is the nearly horizontal trend line shown in thicker red. In a perfect world price action would go ahead and dump on off the meet the convergence of trend lines over the next 7-10 days, or even take a slower, more measured downward slope in that time period. I won't be making any BTC purchases above this level however. If price does not make it down to the level shown, I will begin purchasing again on the convincing break and close back above the 125 daily moving average, for reasons given in previous posts. Just putting it out there for anyone interested in knowing. Happy hunting and GLTA!!
Chart Speaks for Itself?Short term, seems short- Ranging between Fib lines (thick colored) and trending down on the daily, however still holding above he 50 day MA - 4 hour crossed below 125&200MA but right on the 50 MA for both 4 hour & 1D. We are right on the money with the downward trend since the end of June (28/29).
Mid term -On the daily it looks like the appetite is toward the 8K range (ranging 7,600 to 9,400) which is sing low of beginning of June or somewhere between 7,200 & 8,400 which would be the first time we crossed over long term trend line. That same red thick line trending up (monthly support) for be the renewed support at 9,100.
Long term - Needless to say, since my first post testing how to use this thing, I see that we crossed the 200W MA and that is long term bullish - period.
But more confirmation says on the weekly, all MAs are trending up and we have plenty of room since they are all the way down at the 6,500 level.
Thanks - buy bitcoin, but don't rely on it.
BTC PULLBACK TARGETSHi guys!
If you read my previous analysis, you know that I preticted that we gonna have a fakeout to 9K than immediately pull back.
I do not think it is gonna be a very short-living pullback, I think the 8K will not act as a support. It would be a way too small pullback compared to our parabolic run. The 21 EMA (blue line) should also not hold.
What I will be looking at is the 50 MA (purple line) and the 100 MA (green line). If we look at the price of bitcoin in the last parabolic run in 2017 you can see that when we had a move up we pulled back to the 50 or the 100 MA. We can also see that at the start of the parabolic run we pulled back to the 100 MA and than as we got higher and higher the 50 MA was the one that acted as a support.
Since we are only at the start of a bull run, I would say that it is more probable that we will see a pullback to the 100 MA. At the time we get there it will be around the 6.4K region what I also mentioned in my previous analysis.
***It is not a financial advice! It is only my opinion and you should always do your own research!***
If you liked the analysis please leave a like, and if you have any questions feel free to leave a comment.
IS BTCUSD (BITCOIN) SET TO RALLY 40% HIGHER?Hi Traders,
The 4-hour chart of BTCUSD shows that the reversal from 78.6 Fib ratio and a sharp surge from $3412 to $4274 which broke out the descending trendline can actually be seen as a textbook five-wave impulse in wave (i).
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According to the Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the rest of the chart reveals an a-b-c zigzag correction in wave (ii) that terminated at a confluence level (50 - 61.8 Fib ratio + swing level + moving averages).
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If this count is correct, there is a complete 5-3 cycle to the north. Fortunately for BTC holders, this means another rally to around $6000 can be expected in wave 3 from now on.
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What's your thought about Bitcoin? Kindly let me know in the comment.
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Thanks for reading!
Veejahbee.
BTC Bullish & Bearish Scenario (Short Term)BTC seems to be forming a symmetrical triangle. Being that the overall monthly trend is still bearish, the odd favor BTC breaking to the downside. However, with the RSI showing bullish divergence, there is a chance BTC will break to the upside and head towards the resistance range of $4,100-$4,200. If not, you can expect BTC to break downwards towards the $3,200 range. Good luck!