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Bitcoin Ramping up for 7.7k retest. Many Bearish Signs!!! Hello guys. Bitcoin has displayed many bearish signs. Firstly Bitcoin has broken out of its daily Ascending triangle downwards. This means that it will likely hit a target of 7.8k (Green zone). Bitcoin has also closed below the Daily EMA ribbon. Every time this happens it indicates that the daily trend has ended, And that we are about to go much lower. We are able to see this in previous history(Highlited by Green circles). Its likely that Bitcoin might retest the EMA ribbon. This might be a good place to place a short position if you havent already. Remember guys there is a CME gap at 7.7k Historically these fill, So Bitcoin might go back down to this zone to fill it. On the weekly time frame there is a Bearish RSI divergence and a Bearish Engulfing candle. We are able to see this here: These two signs indicate a reversal in the trend on the weekly time frame.
BITSTAMP:BTCUSDShort
by JayT121
Is BTC doing final move?Welcome to my daily market update (20/05/20): I don't usually do 1h but this time decided to open it up to show the short-term trend as well... * Short-term: - There is strong resistance line (yellow) which if we touch for the 6th time, most likely will break through with a spike towards the top ascending triangle (pink) which will also be overbought on 1h - failing to get to that yellow line (Or getting rejection), will cause a very strong rejection of that area which means we most likely gonna break below the 1h cloud, and below the lower part of the triangle and correct towards the oversold 1h area around 9300 which is a good entry point as this is used as strong S/R area on a mid-term bullish trend. * Mid-term: - We have the bullish channel which I previously mentioned on last analasys - We also have bullish ascending triangle (green lines) - Breaking below that channel will turn the mid-term bullish move to bearish move, so watch for that area. * Dont forget we have CME gap to close at around 9300-9400: * Also notice that BTC Hashrate is down by 15-20% in last few days (Means the system overloaded and Fees are getting higher and higher) www.blockchain.com * Net longers are Fomoing in again vs net shorters.... this might also lead to the correction. * In overall: - that yellow line will decide if we touch the short-term upper ascending triangle, or close the CME GAP - I personally still bearish on my bigger speculation, but as usual, the best recommendation is to focus on the mid-trend which is bullish, because the trend is your friend :) - Buy the dips at important levels (Like the CME levels, and the lower part of the tunnel), until you see that the market changing its mid-term direction... and use tight SLs as we are in a very tight spot.
Long
by Hedgehog_king
1
Extremely Bullish BTC Price Expectation after Massive CME GapBTC Has a very bullish price movement ahead of itself after observing a massive CME gap of 15%. The futures contracts from the Chicago Mercantile Exchange (CME) have something special to them; they don't open 24/7. Gaps occur when the price of BTC moves during the time (the weekend) when CME is closed and other exchanges are open. For example, the Binance futures and Coinbase futures are opened 24/7. These gaps tend to fill themselves, meaning the price moves into the opposite direction of the gap and continuing trading around the level where the CME futures market stopped. In my previous gap analysis I showed that indeed 8 out of the 10 gaps were filled within 7 days: This one of the largest gaps we have observed so far, showing a very bullish price expectation for BTC. Given the fact that the price dropped a lot recently, this might be a great moment to pick up some sats at a discount. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
16
The bulls havn't lost yet!Welcome to my daily market update (11/05/20): • Damn, I wanted to post yesterday a market update but a few minutes right before I was done, the market went crazy, which is extremely fun!, my expectations were right, and we finally received my weekly red candle (Or did we? Few more hours to go xd), so I delayed my update until now. • So what we have so far on mid-term for bullish? - We are still riding the mid-term bullish trend, and just corrected to 0.6’ fib levels (Which is very good for such recovery), and used daily e50+e200 as support (Golden cross upon us?): - We still have a gap to fill on after daily+weekly close: - And we created a higher low on 4h (The real question is if we will create a higher high as well?): - Now it’s good place to ladder bullish position, if we create higher high then most likely we are going to pass this 4h e21, and shoot to close CME: • And what we have on the mid-term bear side? - We are under the 4h e21 which we were riding so far, so it will act as resistance now. - We didn’t create higher high yet so we might still create a lower high and a lower low, and on this case our next target is7750: • Now don’t get me wrong, the mid-term is still bullish and might break through the the big-term trend, but we should not forget some keypoints: 1. All markets (Such as DowJones and S&P500 and others) pretty much exhausted with this recovery, and might start crushing the second wave (BTC will also crush on such moment, again) 2. Our big-term is still in this bearish channel (And now we have enough liquidity to push down, especially if close below the weekly e21): 3. The halving bullish narrative is almost over, the moment we pass this event, a lot of retail (And especially whales) might just dump their profits since the event is over. • My recommendation for now, is to stay with the mid-term bullish trend which isn’t invalidated yet. I personally as you well know, am a speculations trader, and thus I keep on focusing the shorts as I did so far, until we pass 10500 with enough confirmations that we are on a bullish market again.
Short
by Hedgehog_king
1
Mind The Gap: An In-Depth Analysis on CME GapsThis analyses shows what happened during the last 10 CME gaps. We can use this information to create a scenario on the future predicted price of BTCUSD given the current gap. We can observe that 8 out of 10 CME gaps were filled within reasonable time. The gap from the 29th of January was filled 30 days later, but I considered this too long. I have been focusing on gaps that were filled within about 7 days. In this case we get a 80% success ratio (and a 90% success ratio when you make it into a 30 day window). Applying this on the current gap, we are roughly 9% below the top of the gap. This means that we can trade this 9% potential and aim to have the gap recovered within the coming week. Based on historical data purely this should give us around an 80% success rate. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
CME:BTC1!Long
by Trading-Guru
6
#Bitcoin 6 month Inverse Head and Shoulders Completed? After looking at the charts once they have cooled down, we can see that the completion of an inverse H & S pattern seems to have landed perfectly in place with the right shoulder... After 26 billion dollars left the crypto market over night and now sits at 224 bill, this looks like the perfect time to "buy the dip" . The Fear and Greed Index is at 19 and patterns like the inverse head and shoulders and the cup and handle have been completed. These are months in the making, not to mention that pesky CME gap was filled today. I'm longing this market now. However, there is caution. If we do break the fib line at 7300, we are heading down to 66 based on VPVR .. So manage your risk vs reward here. The Stock Market has continued its down fall correction. Banks are beginning to default around the world, not to mention that Oil fell by 30% and the USD is now value at 94 cents. Again, I'm longing, however, this is not advice. :-) What are your thoughts? - NCCM
KRAKEN:BTCUSDLong
by New_Creation_Capital
2
Bitcoin TA analyst trainingHi traders and crpyto friends it's BohemianCrypto, this is my humble analyst for next BTC moves based on Fib Retracement levels, important supports and possible H&S pattern.. After this weekend we will have a gap in CME BTC Futures market from 9.165 to the end of today candle, expecting around 8.300... This gap will be most likely filled... At the same time we reached important location between 8000 0.382 FIB level and support around 8300.. We can easily bounce from here to fill the gap after weekend... the expected gap has around 12% if will be filled... After tha gap we can try to get through resist line (red) or drop lower to the level of half H&S pattern which sits around 7200... but this scenario contain break through the support line (blue)... If this happens I really don't know what we can expect then.. halving is coming and I was expecting more Bullish market... This is just my TA analysis trying to catch some feedback, because I'm still a rookie :D Cheers
BITSTAMP:BTCUSD
by BohemianCrypto
4
Bitcoin Bottom Is In!Bitcoin (BTC/USDC) is looking amazing on the daily chart. Not planning on getting shaken out by this one! Reason why I believe this local bottom is in: Major hidden bullish divergence on the daily MFI Regular bullish diversion on 12H MFI Declining sell volume while price drops Low volume on that drop yesterday (that was the capitulation candle imo) Inverse head and shoulders (reversal pattern) Hidden bullish divergence on the weekly BTC Dominance chart Approaching bullish cross between MA50 and MA100 on weekly BTC Dominance chart (expecting a surge in bitcoin dominance leading up to this cross) Over $1000 CME Gap to be filled Bitcoin Halving fast approaching! BTC Dominance: Bitcoin CME Futures (Almost time to fill that gap!)
Long
by Piggy_Profit
How to make CME-gap traders happyThe dream of every CME-gap trader: First we well visit CME Future gap #3 which is the youngest in our CME-gap family. After a mid-short bull-bear fight at the daily support/resistance area at 8930 bears will continue to gain strength as new market participants feel for the first time the rollercoaster ride of emotion the volatility of crypto assets causes. Weak hands ether hedge their remaining profits or accept the losses already made as they cut their bags and trades. At this time we reach CME Future gap #3 were smart money flushes the markets and starts buying their bags. After a short visit price will massively gain steam as the last and also eldest, let's call him Granpa CME Future gap #1 comes into play. We will see how this dream will turn out. If you are a CME Future gap trader my prayers are with you, as this play also matches my personal bias. Comments, especially opposing opinions are highly appreciated! Cheers!
CME:BTC1!Short
by EtherMinerLSO
CME gaps are fun...After having troubles with RL issues, I am coming back to give market updates <3 * I'm still not fully bullish, but yes it is more logical to focus on bull moves and not shorting atm (Don't go against the trend, the trend doesn't seem to weaken). - Don't FOMO in! trade carefully... these gaps are psychological play zone, more likely to retrace a bit (Hopefully to close the lowest gap before next move up, still more likely to close the current gap)... - Going below 10k and surpressing it again means we can start bull run from my perspective. - Final confirmation for me for a full bull run would be OBV rise above 9700 price on some major exchanges such as: CME, Bitmex, Binance, Coinbase...
CME:BTC1!
by Hedgehog_king
New CME gapChart made a new CME futures gap between 8765 and 8865. This gap will be closed either before the dump, or after the dump is over and price bounce above 8k. I'd prefer to see it untouched until BTC hit 8k, as this will be more bullish and promising. In case price first go up and then down, there will be less "reasons" to come back. Bitmex/Binance has a little different numbers, but close. Zone from 8150 to 8300 represents strongest support for bullish bounce. 8000 obviously can be wicked within that move as well. If bullish bounce scenario won't happen, price may retrace further to 7555 - 7700 zone. That still leaves the big picture positive, while switching BTC into consolidation period that will take longer time to resume and build new uptrend.
CME:BTC1!Short
by WiseAnalyze
1
CME Gap Hasn't Closed YetA bounce in the area was to be expected, but hold your horses. It hasn't closed yet. The gap is shown on by the green shaded box. On Bitfinex and Binance it bounced around $7675, which uncoincidentally was the gap low on CME. BUT this level has not yet been reached on CME. In other words, many traders placed long orders around $7675, but it seems they didn't adequately compensate for the price differences between exchanges and the CME. A small gap still remains, and so does the incentive for CME to push the price back down.
CME:BTC1!Short
by mastaplan
2