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BTCUSD Symmetrical Triangle| Low Volume| Breakout Imminent!Hello Traders!, Quick Update on BTC, Trade Setup! We have a symmetrical triangle forming clearly on the shorter time frame, price is coming to its apex, a break is imminent. Points to consider, - Trend coming into apex - Support and resistance converging - RSI is neutral, on support - VPVR increasing cluster of transactions - Volume has dried up - Futures gap below at .50 Fibonacci BTC has been consolidating over the past couple days and has formed a symmetrical triangle which is very close to its apex point. The symmetrical triangles support and resistance lines are converging in confluence with extremely low volume, this is a very key indicator for breakout trades. Overall a break in either direction, backed with volume is probable. An important area to keep an eye on is the .50 Fibonacci level, if price breaks bearish and tests this level, then the CME Futures Gap will be filled (Check previous chart update for further explanation ). It is also probable for BTC to have another impulse pump before a major correction towards the lower Fibonacci levels… What are your thoughts on the consolidation phase? Please leave a like and comment!
BITFINEX:BTCUSD
by AzizKhanZamani
6
BTCUSD: 2D timeframe implies the weekly downtrend is not overThis is a follow-up idea to my weekly forecast. We're curently short with expectations of price bottoming near 6404 over time. The longer term chart signal is invalidated if prices break the 6400 support zone strongly, so once we do hit it, an immediate rebound would be good for bulls. Stop loss is 5269 for the long term long entry, once we cover shorts. If that stop is hit eventually, then Bitcoin is dead for sure... Bakkt volume is gradually starting to pick up, my guess is it will explode once we hit the bottom. This coupled with udpates from the Mt Gox situation and other events that might happen by the end of October make me think we will see a big move. I would like to see Bakkt volume surpass CME, for a clear indication of bulls outpacing bears (since CME is cash settled futures market, it favors short selling...in fact, the ex CTFC chair Giancarlo was quoted today, saying how the Trump administration weaponized the BTC futures market to kill the bubble back in 2017, which in fact is quite feasible). I like it when markets offer such a low risk entry, after an over extended decline, with sentiment eventually becoming one sided. Bulls seem confident in loss here, from what I gather, so sentiment confirms further downside. I'm short and hedged, looking to add to short on a small reaction, and ride it down towards the target on chart. Cheers, Ivan Labrie.
BITSTAMP:BTCUSDShort
by IvanLabrie
0042 - Short E-Mini S&P Future ContractsPrecio de Entrada: 2955.25 USD Stop-Loss: 2997.25 USD Objetivo Mínimo: 2819.25 USD Objetivo Máximo: 2819.25 USD Razonamiento: - Entre el 01 y 02 de Octubre el precio rompe a la baja zona de soporte en donde confluyen el mínimo del mes de Julio 2019 y un nivel invertido semanal. De tal modo que el sentimiento de mercado que tomo es bajista. - El precio de entrada se encuentra justo en el mínimo del mes de Julio de 2019 que ahora debería funcionar como resistencia. Se busca operar el test al nivel invertido. - El stop se encuentra justo por encima del high de la vela del 01 de Octubre que fue la que rompió a la baja el soporte. - El Objetivo Mínimo y Máximo se encuentran justo por encima de un nivel de soporte que demostró ser una fuerte resistencia en los meses de Octubre, Noviembre y Diciembre de 2018 a la vez que fue un fuerte soporte durante el mes de Agosto de 2019.
CME_MINI:ES1!Short
by IsaacAsimov
0041 - Long Gold Future ContractsPrecio de Entrada: 1495.70 USD Stop-Loss: 1477.60 USD Objetivo Mínimo: 1542.90 USD Objetivo Máximo: 1552.50 USD Razonamiento: - Luego de romper el soporte en los 1490 USD, el precio se recupera y vuelve al rango en un corto plazo. De tal modo que asumo un sentimiento de mercado alcista y el rompimiento como falso. - La entrada se encuentra justo por encima del soporte, esperando entrar en un test a dicho nivel, lo cual, dibujaria adicionalmente un higher low. - El stop esta por debajo del ultimo swing low en 4H. - El Objetivo Mínimo se encuentra al nivel del ultimo swing high. - El Objetivo Máximo se encuentra en la parte alta del rango.
COMEX:GC1!Long
by IsaacAsimov
XBTC-BTC/USD WEEKLY CLOSEGood day guys, well we had the weekly close under 8 k, not a good sign on my view, per weekly we are in a bear market. We have ton of 9 buy coming up or in game now and a possible descending triangle forming on the daily/4 h ( later a chart of the 4 coming up). On a overview of the TD and CME open: M 2 UNDER 1 31 D PRICE FLIP - green 1 W 7 ON 9 COUNT 3D 9 BUY 2D 9 BUY 18 H 9 BUY 12 H 9 BUY 8H 7 ON 9 COUNT 4H 8 ON 9 COUNT - NEXT CANDLE A 9 BUY 2H 6 ON 9 COUNT 1H 2 ON 9 COUNT, NOT YET A 2 ABOVE 1 15 MIN NEUTRAL CME OPEN GAP FROM 8200 TO 7903, possibility for upside to the trend line and 8k resistance zone with a wick up to close the gap. This would be a relief bounce before new lows in my view. Keep a close eye on ADX and the -DI on verge of a possibile cross with +Di Safe trade folks
BITMEX:BTCUSD.PShort
by taryjaya
One Lone Bull Amongst Millions of BearsWe have Broken and Closed below the 200 DMA. We had a confirmation Daily Candle close of indecision that failed to even reach the 200 DMA for a retest. Dominance is on it's way down after finding rejection at the bottom of a channel it rode for quite some time. The Weekly has only just tapped the 100 WMA but has long lost its 20 WMA and 21 WEMA. Bakkt has came in to smash the price down for better entries just like the CMEs. I know, I know... There is Every Reason In The World to be Bearish. BUT... I really like Harmonics. (Insert the cookie monster "I don't Know" meme) Sometimes with TA I feel like an old reporter, before all the major networks were biased and journalism become just a laughable taking point amongst our future selves. I report what I see. Does this make me a Bull? Does this make me a Bear? Does it mean I must be right? Does it mean I must be wrong? Honestly, does any of that really matter? Price will do whatever price will do and we will be there every step of the way, watching and learning and trying to build a future. Enough with the absolute nothingness and lets gets started, shall we? First, The Bullish Gartley - The Bullish Gartley is an advanced ABCD Pattern in the Harmonics Family. This is a 5-Point Reversal Pattern. These patterns are unique in which they carry with them some specific rules in which reversals or pivots can take place. The XA of a Gartley should be an impulse leg. A fairly straight forward move in price to either the upside or downside. The B point needs to reach at least a 618 of XA but cannot touch the 786 The C needs to be at least a 618 but must close below a 786 of AB Finally the D should be a 127 X of AB and as an added bonus, a 786 confluence of XA Ok, we did not get the confluence of XA Now the Targets for a Bullish Gartley are the 382 and the 618 of AD TP1, depending on timing could have confluence with an AC non-valid trend and even more insane would be the intersection from a support wick trend using our B as the anchor 2. TP2 at the 618 Would be confluence with the ATH-LL 50 Line. Ok, ok. Now for the Cypher... Much like the Gartley, the Cypher is a 5-Point Reversal Pattern also an advanced ABCD and in the Harmonics family. A Cypher differs in a lot of ways, especially the way it's calculated and the fibs that are used to achieve the correct results. The XA should again be an impulsive move up or down. I admit that this move down is not as sharp and smooth as I would like but I'll deal with the minor retrace. The B needs to be at least a 382 and must close below the 618 of XA The C needs to be at least a 127 X of XA but it must close below a 1414 X - I know, this closes at 1417... - While this does diminish some quality to the pattern we do allow for some cushion in both directions. The D Point should be the 786 of XC That's weird... The 786 D Point is ALSO the 50 Line from the ATH-LL Fib. hmmm Targets on the Bearish Cypher should be the 382 and the 618 of CD See some similarities don't you? Again, timing would be everything with something like this. The 382 with confluence from that same trend as the Gartley at the 618 with confluence from the ATH-LL 382. Ok, let's piece it all back together again... And there you have it...My Friday Night in a nutshell. Yeah, real party animal these days... So yes, thee is every reason in the world to be bearish but these are also very easy to manage. Entry at the D, SL under X for the Gartley and above X for the Cypher. Strike rates on these are fantastic so long as they truly are a correct pattern that follow the rules. The closer you follow, the better quality the pattern and the more likely to see TP1 and TP2. These can target all the way up to a 1618 X, which is what the Gartley did that was formed using the 2018 Low... Anyway, up or down, win or lose, profit or loss, I hope somebody learned something.
Long
by ChingasX
3
BTC Bullish Divergence and CME Gaps Filled!Hello Traders! Today’s analysis will be on Bitcoin’s recent developments, Bullish Divergence and CME futures gap filled, could a bounce be more probable from current rage? There are a few technical indicators that point towards a market bounce Points to consider, - Clear bullish divergence on hourly timeframe - Major resistance at .236 Fibonacci level - Major structural support at 8K level - Stochastics turning bullish - RSI respecting upwards trend - VPVR showing low volume of transactions - Volume well below average - Volume climax candles - EMA’s yet to meet price Bitcoin has finally filled its CME futures gap around the $8,000 mark where it held support and traded this region to form a potential bullish divergence. Price is making lower lows whilst the RSI makes consecutive higher highs. Local structural resistance for bitcoin is the $9,200 mark, which is in confluence with the .236 Fibonacci level. A break from this level will be quite bullish… The stochastics are on the verge of turning bullish, signifying that the downside steam has cooled of and a move upwards is more probable. RSI is respecting it’s upwards trend, we need to see it continue to diverge from price, and this will cool of the indicator from oversold conditions… VPVR is quite interesting, as there is no high volume traded between current support and resistance, a bull move up would not experience heavy resistance due to lack of volume traded between the two regions. The volume profile is also quite interesting; we’ve had multiple volume climax candles and large wicks being bought back up. This signifies a strong level of support that is defended by the bulls. The EMA’s have not yet reached price so, at current time being, it is bearish until we see a bullish cross… It is more probable for Bitcoin to bounce and retest local support; it would be a natural market reaction after a straight flush down. This is supported by the tentative bullish divergence forming at current given time. What are your thoughts on Bitcoins current price action? Please leave a like and comment And remember, A streak of winning trades can boost your ego and self-confidence to such an extent that you start believing that you’re invincible. If that is the case, try to take a break from trading to calm your emotions down.
BITMEX:BTCUSD.PLong
by AzizKhanZamani
if we are ging off CME gaps, there are two unfilledlong if you are a true believer that cme fututes gaps need filling, if we are going off CME gaps, there are two unfilled if its true that bitcoin needs to fill gaps , which so far is true regardless of bitcoin maximalists refusing to say futures has a big say in Bitcoin price, Pomp, Vays will never even consider it!! Pomp uses people pension funds respect to vays though, he lays his cards out and will back it up anyway, these need filling if its now a rule ( unwrittan of course)
CME:BTC1!Long
by MoggsUk
2