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BTC trend reversal, we are having an upsurge!I have looked at the BTC chart and what I can see now is a turnaround from a long miserable down period. I'm not saying that this is "going to the moon", but looking at some signs I think we are definitely going to see some major moves. Here is why. Dec. 15 to now we have had 5 solid green candles with around 140K volume. The volume is not tremendous but its building day after day which I like because it shows me confidence in BTC. If it was two green candles at 140K volume and then down that could be just a blip. RSI has moved out of the 30 oversold danger zone into a 50 range which is positive. The 200 day MA has been broken finally! Now I have 3 short term resistance lines. My first one has been broken at 3636 and BTC is heading toward my second line of 4044. MACD has moved from 30 to 115 since Dec. 15 with a good spread between the two lines. So where is BTC going to go? There will be some friction at the 4044 and 4400 marks. However, my guess is that people are moving their money out of the stock market and into Gold/Silver and BTC. If there still is no China trade deal and the Fed keeps pushing up rates I can easily see BTC hit around the 6140 by early January. That 6140 area is major resistance and will take time to work off. I'll keep my eyes open on this as there is finally some positive price action. This is not financial advice just a dude who likes charting and chatting....peace
BITFINEX:BTCUSDLong
by Chartmaster1
3
The pattern was crossed The pattern triangle which I announced yesterday was crossed. We have strong by signal on EUR USD trading instrument. We can buy ! BUT, be careful and read more news, this week fundamental analysis is very crucial, on Friday we have Non-Farm Employment change and before that news we may have a divergence and fake technical signals. Here you can fined more information about Non-farm Employment Change www.forexfactory.com www.investopedia.com Nonfarm Payroll What is 'Nonfarm Payroll' Nonfarm payroll is a term used in the U.S. to refer to any job with the exception of farm work, unincorporated self-employment and employment by private households, nonprofit organizations and the military and intelligence agencies. Proprietors are also excluded. The U.S. Bureau of Labor Statistics releases closely followed monthly data on nonfarm payrolls as part of its Employment Situation Report. The headline figure—the change in the total number of nonfarm payrolls compared to the previous month—is used as a gauge of economic health. In January 2018, preliminary data for the prior month of December 2017 showed that nonfarm payrolls rose by 148,000, on a seasonally adjusted basis, to 148.3 million. The change marked 87 straight months of job growth since October 2010. Nonfarm payrolls rose by 252,000 in November 2017 (also preliminary) and 155,000 in December 2016.
Short
by AmiranAzaladze
BTCUSDUsually I don't keep re-examining a chart but here we have the 15K+ drop in volume I was talking about in my last chart. I drew a new support line at 5500. It's no where as strong as the previous 6150, which is now resistance. So at this point we will probably bounce around our new reality range of 5500 - 6200. I think there will be one more drop I doubt the selling is done yet. It could be today or tomorrow. Again look at the 5500 range. The problem I have is that support at 5500 is fairly weak and this forces me to think that 5000 is in the offing in the not so distant future. Five thousand is a going to crack some die hards. At that point there will be major selling. Sorry for the doom and gloom...i'm just trying to keep it as real as I can.
COINBASE:BTCUSDShort
by the200day
2
BTC analysisI'm not liking what i'm seeing. We are now hitting what the chart shows as the floor (support). I use 6150 as my floor. It's not totally clean since some bottom points are bouncing between 6120 and 6170. Nonetheless, we are now at 6040 and have had 3 red candles in a row. The positive is that the red candles have been under 6k and we have not been hit by a 15k or bigger candle as of yet. This 6140 mark also broke through my fib levels to below zero. Every month since December of last year we have had lower highs. It drives me nuts when people kept saying that there is a massive upswing ahead. Show me the proof because with decreasing volume that doesn't seem to be happening anytime soon. At this point i'm just hanging tight, but my chart is telling me we could be in for a downturn where we could touch the 5000's i.e. like 5900's as we did in July 2018. Just be honest...don't try to be a car salesman and sell me the moon...lol :)
COINBASE:BTCUSDShort
by the200day
BTC chartThis is why I don't share the optimism some BTC chartists. 1. Downward sloping curve since Dec 18 (11 months) 2. 4 failed breakouts 3. Support at around 6150 4. Decreasing volume for those same 11 months. 5. Failed to stay about 61.8 fib line 6. Broke through the triangle wedge but is only going sideways. Just pretend for a minute that you didn't know what asset this chart represented. Would you buy it? I wouldn't until it showed me 1. Break above and maintain above 6750 2. More confirmation break out above 200 MA 7066 3. Increased volume at least 15K candles not 5k candles that we have now It's better to be honest with yourself than trying to see things through rose colored glasses. Does BTC have potential to break upward, Of course! However the charts don't show me this at this time.
COINBASE:BTCUSDShort
by the200day
BTCUSD We are at a critical point here as far as the near future of BTC. Underlying slightly increasing bottom and a decreasing tops for the last couple of months. Now we have 1 month of (sept 9 to oct 6) clearly raising bottoms and some raising tops. This is where it gets tricky we need more volume to break past that 61.8 fib level and hold. I'm thinking around the 8000-9000 volume for the candle to have enough strength to break upwards. I put a light blue horizontal line where I saw the first failure to break my 2nd resistance line. Now we are looking at the second attempt where my blue arrow is. The good news is this mini upward trend is still inside my golden support line lets see if it can continue the march upward!
BITSTAMP:BTCUSD
by Chartmaster1