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Bitcoin Daily - Busy chart but lots of infoI'll get right to it. What's next? We are all looking for "The Turn" right? Well here is what I am looking at so far. We have a clearly defined channel from the bottom with an accurate center line (white). The price has been playing off the top, middle, and bottom of this channel. We also have, what I believe, is the completing of a minor Wave 5 (orange) of a larger Wave 5 (dark blue). After every Wave 5 there is a mandatory ABC retrace of some sort. This is what we may be building now. On the daily chart this could take awhile. As pure speculation I added a large triangle (baby blue) because BTC seems to LOVE its traiangles. In the background you can still see parts of the Major Fib-Channel (black slanted dotted line and baby blue dotted line) You can also see some key Fib levels circled in green. The large Fibs are from the bottom to the top of the move and the smaller Fibs are from the Top of the move down to the Wave 4 touch of the pink channel and Major Fib Channel (baby blue dotted). Conclusions / speculations: You can see the price has pierced the .50 Fib and has pulled above it again. It could go higher to put in the top of Wave B of the retrace over the next couple of days. It could also continue to fall to the 61.8 Fib around 9974 to mark the bottom of A before reversing to make B. You can see it could also hit the larger 38.2 Fib (Blue) around 9532 or the lesser 78.6 Fib (black) around 8915. I think going all the way to the bottom of the channel at this point is less likely. more likely is to make a turn now around the black .50 Fib 10717 or continue and stop at the 61.8 yellow 9974 and then turn for B. Then the top of wave B might bounce off the middle channel line (white) and can continue down to touch the bottom of the channel to complete wave C. All this action of course will start to form some sort of recognizable pattern. I'm going with an ascending triangle for now. The touch points will become more clear later. The price has already dropped over 25% from the top (point A) and should be over 30% if the price continues down and over to touch the bottom of the channel (pink) If this plays out somewhat as described above I'll be taking off my shoe to remove the last few hidden dollars I have and sinking them in to BTC. I'm going to check the couch and dryer for lose change too and see if my kid will spot me a loan from his allowance. :) Or, this could all be total crap and not do anything close to what I am envisioning. lol Good Luck!
COINBASE:BTCUSDLong
by BitcoinBearSlayer
Facebook’s LIBRA Fuels the Fire for BitcoinBitcoin is Re-born and Continues to Race Towards New Highs with Facebook LIBRA’s Reveal As predicted in our previous post about BTC/USD, the price remains bullish. However, the buyers are on the dominant side here because of the launching of Facebook’s LIBRA. LIBRA brings new hope for cryptocurrencies to be raised. The last rally happened due to the giant, social media Facebook, revealing the details of its cryptocurrency LIBRA. Some of the excitement about LIBRA is that it allows people to purchase things and send money with almost zero fees. The main difference between LIBRA and the other cryptocurrencies is that official financial organizations, such as MasterCard, Visa, and PayPal are supporting LIBRA. The fact that leading Financial Corporates are expressing trust in this or any Cryptocurrency Project affects all the other cryptocurrency markets. Hence, the main reason for the last rally in the BTC/USD price. If we look at the 1W chart, it shows that in the long term the price is on its way to reaching the $20,000 zone. We predicted this in our previous BTC/USD post. Below, there is a fresh (untested) demand level, as marked on the 1H chart. This fresh demand seems like an excellent level to buy at and to join the bullish momentum. If the price retraces that level, we can look for another confirmation as a MACD Divergence or maybe a Candlestick pattern in the lower time frames (15M or 5M). A confluence between the demand and one of these two will be a very reliable setup for buy position. The long term target remains a historical record of the BTC/USD price, which is at $19,500.
BITSTAMP:BTCUSDLong
by the5erstrading
ETHUSD 1H TRIANGLE BREAKOUT - RE-ENTER TRADE ON BUY PULLBACKThis pair was in a triangle chart pattern Price had a bullish breakout Trying to re-enter this trade with buying on a pullback Added the Williams %R indicator - changed settings to 10 period - -10/-90 levels - manually add -50 level Wait for a price pullback that will cause the %R line to fall below the -50 line Buy on the candle close above the -50 line Find your own SL Find your own TP We are doing a live triangle trading class on our TTT Strategy June 25th @ 2PM ET! If you are interested in learning more about it, please visit the link you see below in our signature. Thanks!
COINBASE:ETHUSDLong
by Tradingstrategyguides
Bitcoin - BTCUSD - Retrace for a Long position - 2 Entry Points.Hello All - DuncanForex.com with another TradeIdea This time it is Bitcoin. With Bitcoin breaking through the key 10,000 level. I expect it to retrace to this level and if an engulfing candle appears - there could be scope to enter on the upwards trend line. If it breaks through that main upwards trend line - I will be looking to enter between the 61.8% and 78.6% area on the Fibonacci retrace. I do expect Bitcoin to certainly get up to 14,300 level fairly quickly. Thanks for looking at my trade idea I will be looking to open three entries when I do enter the market - based on the above two options DuncanForex.com opening in about 7 days. Please go to the cover page to register your interest. You can see a summary of all the trades I have taken in April, May and June which I took and also published on TradingView to show my analysis and results were achieved prior to the market then moving. Capital growth was April - 24% May - 98% June - 44% (up to the 21st June.) Thanks for looking, Duncan
COINBASE:BTCUSDLong
by UnknownUnicorn483829
RVNUSD looks for a better support zone. Where are the targets? Hi, In the past days RVNUSD has broken out of the consolidation and is now retesting the .78 of the rally. Typical for a confirmation is a break above or below a valid resistance or support and retest to confirm its value in the market. Exactly that has happened yesterday and we have seen a volatile answer to the retest of the intersection between the boarder of the consolidation and the 0.78 line of the small move to the upside which took place after the flat correction of the rally earlier this year. To find out where the price is moving to we simply measure the heights of the consolidation and project it at the place where the breakout occured. The middle line is a target as well as other valid support zones in that area. These are in the first place monthly support zones and fibonacci retracements of the rally as well as the target zones of the consolidation . The intersection between them can give good opportunities to spot opportunities to sell or to buy since they are often the places where reversal or continuation patterns are formed. Before entering a trade wait until the common centre line is broken and check the fundamentals and the market before entering the trade. I advise to use a top-down strategy as well as multiple timeframes to perform well in the markets. If you would like to learn more about technical analyses please check out George Beaulieu on youtube. Thank you very much for reading and f you would like to see more analyses about this particular instrument please give the thumbs up or let me know what you think in the comments below. Be happy and trade with care Heish
Short
by MeruEU
Litecoin/Bitcoin: Cup and Handle Or Double TopCurrently, Litecoin/Bitcoin looks like it could either be a cup and handle or a double top, in this idea, I will represent both possibilities. The Cup and Handle: In yellow, the cup and handle can be seen with the resistance at 17752 satoshis, it has a price objective of approximately 24908 satoshis derived by measuring the height of the cup. The to the handle resistance and the handle is noted by the yellow diagonal line. Although this looks very similar to a cup and handle pattern, this has strong reason not to be: first , the volume is highest at the bottom of the cup, where in a standard cup and handle, the volume is suppose to decrease as price decreases this is circled in light blue. Since volume is such an important factor to determining patterns, in most situations I would then assume the pattern is not valid, however, Litecoin has been one of the strongest cryptos so its possible for it to retest the neckline. The Double top: The bearish situations are represented by the purple lines, and it can follow the appropriate direction by retesting the resistance of the cup and handle by failing to cross it or it can drop from this point on. The volume better fits this, because there was a large rejection on the right side (the second attempt to drive through the high). However, it is also important to note that this is near historical resistance. Given that there is bullish news, it is possible that Litecoin will see the rally of the cup and handle, as for the moment, I am neutral on both outcomes. In addition, it is possible that this is a harmonic pattern, however, harmonic patterns are something that I need more time to develop.
by CuddlyCuddles
Bitcoin - Weekly update for Sunday June 16th 2019Hello my fellow Bitcoinistas! We still have a several hours left in this week but I'm going to go ahead and post my weekly update for Bitcoin. For those of you following my work you are already very familiar with this chart. You know when we hit bottom. You know when we broke out of the large cup and handle. And you know when the 20/40 weekly MA crossed. You also know that in last week's update I was calling for a green candle this week that would entirely engulf the red candle of last week. Well, I'm going to go ahead and say that's how this week is going to end. Unless they can crash the price in the next 7 hours or so this week is going to finish green and engulf last week's candle as predicted. What does this mean? I think it means you need to put on your space suit and your helmet, hook up your oxygen, and get ready for the launch sequence. Let's start the pre-flight check-list now: 1. Bitcoin broke above the multi-week trend-line - Check! 2. Bitcoin came back to the trend-line for a touch-back - Check! 3. The touch-back printed a red weekly candle - Check! 4. The red weekly candle was engulfed by a green weekly candle - Check! 5. The 20/40 weekly moving averages have crossed - Check! 6. The gap between the 20/40 weekly moving averages continues to widen - Check! 7. I saw another segment on TV this morning about Bitcoin - Check! 8. The Bears are shorting their butts off trying to stop this launch - Check! Ladies and Gentlemen our fuel is 110% and we are ready for take off. Please throttle up main engines and initiate the count down. I'll see you on the other side of the moon. BBS out! In 10, 9, 8, 7,........................................... For clarity - If you are day trading this does not mean we are running North and never looking back. We could retrace at any time. I'm just saying that "In General" we are fueled up and ready to see new highs in the weeks and months to come. Since I am already long all I am doing right now it sitting back and watching the show.
COINBASE:BTCUSDLong
by BitcoinBearSlayer
3
GOLD - XAUUSD - Long Trade - continuationHello all Following the Long Gold trade I took 2 weeks ago - I have been looking to get back in and ride what I believe will be a second leg higher. With the price action today , where it has bounced off support and has started to cycle higher on the 1 hour chart - I am taking 2 trades, one conservative and one with a tighter stop. The risk is 1% for each, however the lot size for the first trade is greater as there are less pips involved to get to the stop If it fails, and it retests this level of support at 1330, I will look to add to my position long and also let the conservative trade play out. There is scope for a lot more pips out of Gold yet I believe. Thanks for looking I have added below the video I made on how I took the previous Gold trade. DuncanForex.com is now live with a home page for you to subscribe to future news and also receive a discount on training. Cheers, Duncan
OANDA:XAUUSDLong
by UnknownUnicorn483829