Is $5k the Bitcoin bottom?Wanted to share my perspective on the recent sell-ff and areas to watch for support bounces to the downside. No one can predict exactly where Bitcoin is going to go and if you hear someone say they do run far far away. I am simply putting together potential levels based on TA other traders are going to be watching as well which can create a "self-fulfilling" prophecy. More than likely I feel Bitcoin will re-test the 6000 lows that were made in early February. Simply put Bitcoin will either put in a patented double-bottom pattern (a common scenario that happens in traditional markets) OR if the 6k lows are taking out the 5k test will find massive support. On this daily chart, the 78.6% fibonacci retracement just so happens to sit right on the 5k level which was a key resistance break/benchmark in 2017. Regardless if that ends up being the "absolute bottom" there will most likely be a nice swing trade opportunity especially if the flush out happens on high volume/velocity.
Charting
Looks like a tough ride ahead for BITCOIN !! Brace yourselves!!Hello fellow crypto traders!! Let me get right into it!
Bitcoin prices has been dropping since it's all time high top. Coincidentally (or not), the all time high date was the day that CME futures started. From then, we have so far dropped from 20k down to 6k and bounced. But that bounce had retraced quite a bit and it seems that BTC is heading further down from here. The 50 days moving average is going to cross over the 200 days moving average in the next few days and that usually signals a bearish outlook for the medium term. CCI index also shows consistent strength in the selling and not looking to ease any soon. Then, we also have the large head and shoulders formation confirmation where BTC had pierced thru the neckline. We shall see if it can return back up above the neckline and save itself or simply resigned to it and the neckline becoming a resistance.
Based on an educated guess, I and seeing BTC heading towards the $1000-$2000 levels before the bear market is concluded.
This chart is only for educational purpose and all opinions are expressly my own.
Good luck!
AION accumulation close to supportWith all the mess from Bitcoin in the last weeks, all the coins have been going down. Now Bitcoin seems to have stabilized for uptrend for the next week and alts also are going to profit. AION is down hard and it's a good price to buy anytime now
Ethereum Set to keep moving sidewayshey guys make sure you hold on to your alts i dont think its time to sell.
Make sure you HODL. Alt season will be back soon.
I think bitcoin will continue to be volatile around the 9-12 BTC range and
will keep josseling back and fowarth between the too.
THIS IS OUR MOMENT!
Alts will go on ALT COIN SEASON. Cheap discounts now.!
ERC20 Token and many more will boom sooN!
ICNETH (KRAKEN) / Feb. 2018 / KRAKENICNETH (KRAKEN) / Feb. 2018 / Kraken Daily updates on the chart!
The Genies Latest BTC reviewHey So this is tough to say ladies and gentleman, But BTCUSD -7.42% to $7,500-7,800.
Here's why....
So as I predicted on Sunday after my Wyckoff theory Sprung, Tested and Failed. I knew we were in for a doozie!
Here is yet again Another Dead on Elliot wave and Elliot Sub wave chart.
I also have a 50 day MA and a 200 Day MA.
When the 50 Day crosses the 200 Day is said to be bullish , Thats what "GOLDEN CROSS" is.
Very cool indicator. And can correctly predict big inflation's or deflation's that are incoming
Anyway not much else to say that Is not in the video.
++++TIPS FOR TRADING LIKE THE PROS++++
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-they are both listed on the front page of my trading view!!
NXSBTC possible x2 profitTA:
- Huge cloud with a very horizontal top edge
- We see a triangle that could break any day now
- RSI is following a bullish trendline and is trendline is above the 50 level
- Stoch RSI about to make a crossover and is oversold
- Volume is confirming triangle
Strategy:
Wait for price break out of triangle(up) make sure it is not a fake breakout so look for some conformation for example check for a volume spike.
When the triangle breaks up and is confirmed it is probably also a conformation for an edge to edge ichimoku cloud trade so the top edge is probably going to
act as a resistance.
Triangle can also break down so wait the conformation!
Avoid Clipped IntervalsDid you know that the final interval of each day can get truncated if the periods you selected don't fit evenly into a 24-hour period?
This can cause unintended and perhaps undetected flaws when you draw lines on your charts.
Fortunately, there are 34 intervals that will fit evenly. Here's a list:
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Avoid Clipped IntervalsAre you aware that if you select an interval that doesn't fit evenly into a 24-hour span, TradingView will clip the final period so that the next day begins at midnight?
This can cause unintended and often undetected flaws when drawing lines on your charts.
Fortunately, there are 34 intervals that will fit evenly. Here's a list:
720m (12h)
360m (6h)
288m (4h 48m)
240m (4h)
180m (3h)
160m (2h 40m)
144m (2h 24m)
120m (2h)
96m (1h 36m)
90m (1h 30m)
80m (1h 20m)
72m (1h 12m)
60m (1h)
48m
45m
40m
36m
32m
30m
24m
20m
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