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Cryoptocurrency

A big drop in bitcoin IncomingIt took me a while to figure out what was going on in this case, as most patterns did not fit the volume identity to be confirmed as a pattern, even this one on the daily does not have strong confirmation from volume , and if we are looking for just patterns, I can find a multitude of patterns, within the same setting, and we are suppose to look at volume for confirmation, and after the last possible continuation pattern, which I stated was NOT confirmed by volume , ended up failing I decided to take a breather from posting, I pulled out of my trades, and took a second to take a look at what is happening, and as a trader, I always like to post ideas on the macro picture, so I understand my trades on the micro end. And I do like to come up with ideas for both the bullish and the bearish and sometimes sideways movement. Here are my ideas: 1.) The continuation inverse head and shoulder, failed which did not surprise me, however it was attempted and I was expecting a movement downwards, but not this strong. 2.) There are two patterns that I can strongly identify, a bullish symmetrical triangle, and another head and shoulder top. The head and shoulder top(In purple, neckline and shoulders): My case for it: The volume on the 4 hour time frame does more to confirm it, and right now selling is strong, much stronger than the buying. Bitcoin -2.19%fell through the support of the large symmetrical triangle (orange line) that used to be its support for the second time. I doubt bitcoin -2.19%and the bulls have the strength to cross it once more, and for this reason, I do believe that an ascending triangle will be made it before another drop with the neckline as a support and the top of the ascending triangle as resistance. If the ascending triangle occurs, it will be enough to confirm the topping pattern. Currently, the resistance of the symmetrical triangle (yellow line) is providing strong support, However, I do believe that bitcoin -2.19%will re-enter this trendline and continue on the same downtrend as before. In addition, the market cap of crypto continues to trend downwards, which makes me believe that the down trend is not over. My case against it: The volume on the daily does not confirm it, and the uptrend would be short considering the inverse head and shoulder took nearly 2 months for it to complete, and considering that all things should be relative in respect to time and volatility, I feel like because of the duration and the volatility of that inverse head and shoulder warrants a more moves to the upside, however, there have been moments where something shows and inverse head and shoulder, hits its target and then continues its downtrend. It is possible that this is the case here. The slope of the neckline is really sloped upwards roughly 45 degrees and there is still a good amount of buy pressure. Head and shoulder itself: The neckline has an upward sloping angle which just means that it is a normal topping head and shoulder pattern and it does not exactly read into whether the next trend will be bullish, the two other shoulders are much smaller and they are complex shoulders, meaning that they have multiple dips or double shoulders. As for the left shoulder, it should exhibit the same properties as the right shoulder. Its price objective, is roughly 6500 if it can break through the neckline. The Symmetrical triangle(It is composed of the light blue and the purple neckline): My case for it: Right now, on the daily, the volume matches the symmetrical triangle better than the inverse head and shoulder, where the left side has the most volume and then volume is slowly diminishing as the support and resistance lines approaches the apex. The buy volume is still strong especially as the price moves downwards, the bulls and the bears and definitely fighting it out and they have been for a while now. The bulls are not giving this success up without a fight. My Case against it: If its valid, it can break both directions.
COINBASE:BTCUSD
by CuddlyCuddles
A trading opportunity to buy in XVGETHTechnical analysis: . VERGE/ETHEREUM is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 59. Trading suggestion: . We opened 8 BUY trade(s) @ 0.00005311 (day close price) based on a reversal candle ( Valley ) at 07.30.2018 . Price is in the support zone (0.0000560 to 0.0000482), traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (0.0000560) Ending of entry zone (0.0000482) Entry signal: Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons: Take Profits: TP1= @ 0.0000625 TP2= @ 0.0000700 TP3= @ 0.0000796 TP4= @ 0.0000968 TP5= @ 0.0001186 TP6= @ 0.0001453 TP7= @ 0.0002030 TP8= Free
Long
by ForecastCity
4
The Boom was Great! Now What? - Pissible ETHEUR Reversal Road!Hey there, So, a few days after the Reversal, i've been studying what's the next step on the bullish run. This time i decided to give it a try on ETHEUR, since i found it more clear to see. If tomorrow morning the candles goes as i suggest, and the next big bang happens as i marked, it will be confirmed the present of Bearish Expanding Triangle Pattern (Lilac Color). You can check how the ABC are almost the same but in bigger scale. So i measured everything and put it together on every next scale. If it is so, be aware on the downs :P As usual, this is just an idea, what i see on the charts, on my free time as a hobby. The market is on constantly change, never forget that. I hope this info could be helpful. Cheers, and have fun! :)
Long
by CharterX
Bitcoin long entry ideaHello Crypto traders, This is my idea on how I will be interested to enter BTC/USD on a long position I'm only risking 5% on my stop loss, please trade carefully and understand this is a market that will take everything if you let it. Honor the Stoploss and risk what you are willing to put at risk. I've studied many markets that had similar situations as BTC/USD is at and this is what would make me interested. Without the confirmation move the idea is invalid, if we reach the confirmation level the the I'll buy as stated on the chart. Good luck :) The moon is at 12k not 1 million.
Long
by Kakashe
2
The "Bart" pattern in crypto. Why they form and how to spot themI've noticed a meme develop in the crypto community around this unusual price pattern seen almost extensively in crypto currencies, characterized by its sudden rise in price, sideways movement, then sudden drop. However, from my experience similar patterns are rarely seen in higher liquidity markets like Forex. It is possible that this pattern is sometimes created by institutional manipulation, as it is similar to the manipulation patterns pointed out by Richard Wyckoff in the stock market of the very early 1900s. The main thing to be cautious of is that the patterns are designed by manipulators to catch out retail traders, because in a low liquidity environment they have to shake retail traders out of their positions in order to fill the manipulators orders, as with limited liquidity a large order can't be made without pushing the price away from where the manipulator would like. There are a few subtle things to look for so that you don't get caught on the wrong side of a "bart". First of all it should not be mistaken as a bull flag, a useful way to tell the difference is to think of where the liquidity pools are, and notice how the market reacts to them. A liquidity pool is where there will be a large amount of buying or selling at a level, this can also be seen in an order book, in a "Bart" (or distribution pattern) the liquidity pool will be located above the first high. Above here breakout traders will look to buy and short stops which were placed above the high will be triggered. If this liquidity pool is suddenly rejected back down multiple times this is a sign of a "stop loss hunt" and that manipulators are taking advantage of this high buying liquidity to distribute supply into the market in the form of shorts. This increase of supply will eventually push the market down. Notice that in a bull flag the selling liquidity pools are bought, and the high is left to break out. You could try shorting using wyckoffs techniques, however the most important thing I want people to learn from this is DO NOT BUY if you see this, as the pattern is designed by manipulators to look like the perfect moment to buy for retail traders. Also, be careful not to put your stop loss in a liquidity pool, as manipulators are hunting for these. The link below has some more in depth information on Wykoffs accumulation and distribution patterns and how to trade them. stockcharts.com
BITFINEX:BTCUSD
by JamesRkaye
28
BTC Inverse H&S Reversal - Moving On Up!Get ready for the weekend everyone! BTC seems to be following an inverse H&S pattern - which essentially means we are moving back up to test $7200 in the next day or two (depending on weekend trading). Volume is low right now as we continue to trace the right side. Be cautious of taking any short positions during this time - weekend trading sometimes accelerates things when volume picks up and stops and limits trigger. We are still very much in a buy zone - currently at $6500 - anyone who has followed my charts would have bought in at $7050 mark I predicted (when we were at $7800) as well in the 6000's where I had buy positions down to 6200. Always take multiple positions - good money management techniques are just as important as being able to read the market. BTC is still very much a buy right this second. $7200 is the resistance level we will test again.. at current prices we are looking at a potential $700 per coin gain (which is not a bad gain). We can confidently say that we are going to test $7200 within the next few days - what happens from there is anyone's guess at this point. If you are holding BTC - keep holding to $7200 where we can re-evaluate. Who knows - we might blow through that barrier tonight... Time for the weekenders! ** I am a full-time trader sharing my analysis. Please LIKE or FOLLOW if you find my charts useful**
by rgeddes
3
BTC/CAD - Stick To Your Vision - Buy Low!!BTC did exactly as my analysis predicted - we have traced the right side of the H&S and will need to go a bit lower before the current pattern is done. Many if you probably bought some BTC between 9500 and 9600 - its been banding between these prices for a large part of the pattern. This is not a bad long position price. If you have been patiently waiting for the right side to trace all the way down to start buying - I recommend you wait a little longer - at least wait until around 8900 - any spike in the meantime will be temporary and we will correct back down. There is a ton of buy pressure in the 6000's and beyond. I have always believed we will bottom in the 8000's again before we move back up to 12k. We are really close to some of my target prices. I've waited since May 29th to see this pattern play out. Once we hit my first target price I will release another chart showing whats going to happen next. My recommendation if you are in the cash is to split it up into a few "chunks". Money management is key to surviving these volatile times. My first buy will be at the bottom of this pattern ($8900) - I am predicting that the bearish trend will continue until we touch the low 8000's - so I am holding back. At the end of the H&S pattern there is a very good chance we could see a small rally - but unless it breaks above 9700 I wouldnt think much of it. Stay patient and wait for the targets! Money management is important - your crypto budget should have at least 20% for Alt coins - this could help you grow your btc holdings even more. The projects I think are offer the most value and upside are LTC, XRP, ETH, EOS, SC, DGB, XLM and XMR. Be patient - Stick to your BTC projections - if you aren't confident - find a trade you are confident with! Most people never regret missing losing - they only regret missing winning - theres little difference between the two other than outcome. There is always a new entry and exit point - stick your vision - if you miss is this time you'll get in on the next pattern.
by rgeddes
I Am A Little Surprised about Bitcoin...I am a little surprised how much garbage I see on the internet about Cryptocurrency lately. Promos with fake testimonials claiming they have the guru strategy that will make you millions... Fake people claiming they own over 100,000 bitcoins... You get it what I am saying right? I just have one simple question.. Have you been sitting back watching all this play out or are you actively trading Bitcoin? -TSG P.S. Just curious what the majority in the tradingview community will say. My guess 70% have not, 30% have traded cryptocurrency.
BITFINEX:BTCUSD
by Tradingstrategyguides
2
Bitcoin Dropping Perfectly, Remain Bearish For A Further DropBTCUSD has reacted perfectly off our resistance, remain bearish for a further drop if it breaks major support. Sell below 8351. Stop loss at 8601. Take profit at 7827. Reason for the trading strategy (fundamentally): The big news surrounding cryptocurrencies is that eToro, the social investing platform, is launching a full-fledged cryptocurrency exchange and mobile wallet for the US. It has opened the waiting list for people in the US who want to trade bitcoin, Ethereum, XRP, dash, bitcoin cash, stellar, Ethereum classic, NEO and EOS. This is a good news for cryptocurrency as it would no doubt increase the liquidity across the board. It is also a good sign that the trading of cryptocurrencies are starting to be more widely accepted in the most respected trading circles. Reason for the trading strategy (technically): Price has reacted perfectly from our selling area yesterday and is dropping nicely. We remain bearish looking to sell below major resistance at 8351. This requires a break of our short term ascending support and swing low support to trigger a strong move down to major support at 7827 (Fibonacci retracement, horizontal overlap support). We do have to be wary of intermediate support at 8200 (Fibonacci retracement, horizontal swing low support). RSI (89) remains under strong bearish pressure from our descending resistance line.
BITFINEX:BTCUSDShort
by theforexarmy
IOSTBTC breakout tradeIOST has been performing extremely well lately, and is now forming an ascending triangle pattern. As you can see it broke out of my previous trade pretty quick, due to the state of the bullish trend. Trade it on your own risk with an entry on the bottom of the triangle with a stop loss underneath, or trade the breakout (convincing with volume) with a stop loss underneath what the current resistance line which may turn support. Targets are the next three resistance points. I don't consider the first one a significant resistance line, though it might bounce back off to correct. Don't forget stop losses - we all know what happens when BTC starts making trouble in the neighbourhood. Happy trading.
I
by jonasthomasen
Cryptocurrency Base Trading Strategy - 150%+ Possible Weekly Cryptocurrency Base Trading Strategy - 150%+ Possible Weekly Hello everyone, I am going to briefly cover one of my favorite trading strategies, Base trading. This is so simple, yet it yields me some really good weekly returns. What are bases? Bases are the lowest current support during a specific time frame. On the chart above, the bases are indicated in blue horizontal lines. What is my Base Trading strategy? When the price of a coin drops 5% or more from it's original base, and the past data for the coin shows 80% or more the price of the coin has successfully gone back up to it's original base price. I use 5% stop loss on all trades. Yes, you read that right, 80%+ of the time this strategy is profitable. Let's do some quick math below. 5 trades daily = 35 trades per week. 28 trades win for a minimum 5% profit each trade = 140% cumulative profit. 7 trades loss for 5% each trade = -35% Total profit = 105% cumulative You can use a 10% stop loss to have a slightly better success rate. Below is the previous stats for the coin chart above: Bases respected (how many times the coin has gone back to the original base support) 10/11 (10 out of 11 times) Success rate 90.91% 90% respected in 19.17d See Live stats of my Base Trading Strategy Plays --> goo.gl
RShort
by redking75
10