Bitcoin buy zone approaching really quick LAMBO ZONE SOON AFTERFollowing a nice run early this year we have gone through a period of profit taking/distribution. The fundamentals creating the environment for such a nice run up haven't changed much, however there will be a new catalyst towards the end of this summer that will create an environment for a HUGE Bitcoin run above £100k. It's all going to be closely related with COVID and further QE.
Why $25,000 is the buy zone?
Simple maths
ATH - $65,000
Golden Fib - 0.618
$65,000 * Golden FIb = $40,000
$65,000 - $40,000 = $25,000
Major resistance?
$80k
$105k
And then obviously the LAMBO ZONE
Crypotocurrency
SOL beginning to set? Elliott WaveIf you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment! Also, check out the links in my signature to get to know me better!
Getting a deeper retrace, which will hopefully lead to some #Elliottwave clarity of count degree wise.
Some areas I am looking for a reaction at.
Below $40, sus for this count.
Bitcoin (BTC) next move ?We have seen some downside volatility from BTC today, but this is just consolidation between 21-week EMA and 50-week EMA.
This is the second time we've seen this with BTC PA this year. We can see what BTC did once it broke out of the consolidation in July.
This two weekly EMA's are main bullish indicators.
The second support is the diagonal thats is marked green from which BTC broke out in October and is now been retested as support.
The current price action is neutral on the weekly, or even bullish, but on the low time frames it looks bearish, so you just need to zoom out.
Once BTC breaks above 21-week EMA and retest it successfully, we'll see exponential growth towards $100k IMO.
Patince is needed right now.
Strong S&R at 3234There is strong (but not the strongest) S&R at the 3234-3248 level. We have drawn in a long term fib line that matches pretty close to this level at the moment. The only problem with it is that there is not much back data to go on just a total 7 daily candles have held an S&R at this level.
If we get a break above then look for a continuation to 3K and a stop will mean at return to 2850.x range
Do Traders Use Logarithmic Charts? - Bitcoin Stock to FlowI was asked on social media if I use logarithmic charts in my trading. The short answer is "no, not tactically for short term trading" but they do have use in analyzing long term exponentially growing instruments when trying to find patterns. One key use of logarithmic chart analysis is for the Bitcoin Stock to Flow model. This model calculates the price of Bitcoin in relation to its supply and decreasing production.
Link to source: medium.com
$BTC - slow start but an explosive end?When we broke the correction downtrend we retested the downtrending line twice
Usually this would only happen once, indicated low momentum
Once we claimed $34.5 it has been very cleanly upwards
Formed a bullish flat top triangle also, break of this using the measurement method would take us perfectly to the purple line which is the 2.618 fib retracement of the 2017 ATH to 2018 low
I would expect a pretty explosive move from this with resistance at previous ATH
HOWEVER
If we don't claim 38.5K I would fully expect a retest of 34.5K where will then decide are we going towards 45K or towards 26K. So don't get too comfy crypto trading view
sell at 30900-31200 and take profit around 27000-27500 short timSELL #BITCOIN AT 30900 WIHT 3 TP ON THE CHART (21700 decent pullback) he is much overbought in all time frame and indicator + he forming an ascending wedge thar usually price break down on this figure #btcusd #Crypto #cryptocurrencies #Cryptomonnaies #Bitcoin #forexsignal
i do 2 lot
the first lot o will cut at 28500 and take full profit
the 2nc lot when it will reach 28500 i will put hios stop loss at 30 000 like that if he back up before my target i keep profit and no loss.
ON THIS TYPE OF CONFIG WHERE OBERGOUGHT LIKE CRAZY , YES I DO NOT PUL STOP LOSS BUT I NOT HAVE ANY LEVERAGE AND A GOOD CAPITAL BUT I THINK HE CAN DO A KNEE JERK IN THE WORST CASE?INVESTOR ARE NTO CRAZY THEY WANT TAKEZ THEM PROFIT SOON
TRXBTC (TRON) Bullish Technical Analysis Update#TRXBTC TA Update:
Tron current price is 182 Satoshi.
#TRX Looks Good For new Setup but if any 1 Day Candle close above 190 Sat then Best confirmation for Entry.
Entry: 176-182 Sat
Targets: 274/348 Sat
SL: if any 1 Day candle close bellow 170 Sat them exit.
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STPT/BTC TA Update in small Time Frame#STPT/BTC TA Chart:
#stpt now Looking bullish in short Term.
Bounce back from 50MA Support.
So we can see 20-30% and we can also see new ATH.
Entry: 240-250 Sat.
Targets: 284 / 340 Satoshi.
SL: bellow 230 Sat.
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Bitcoin: Long term TA Part 1Bitcoin: Long term TA Part 1. The past 3 weeks have been very exciting for Bitcoin. After reaching a trend low of 6440, the price has rebounded over 30%, pushing over $8400 earlier today. With action that leaves us holding our breath, it begs the question. Was that the bottom? Have the bulls returned? Is this a fake-out.
Let’s begin by taking a look at the 2019 bear market. As you can see, I’ve used a fib channel (white) to highlight the range and angle of the trend. Today’s action has taken the price above the 0.236 line in the fib channel, something not seen since the fake-out pump above 10k back in late October. Exciting stuff, but could it just be another fake-out before hitting lower lows? It’s too soon to tell. Time under price will be critical.
Adding a logarithmic and linear retrace to the 2019 bull market gives us a better idea of what’s going on. As you can see, before the recent break-out, the price fluctuated between the .5 log retrace at 6600 and the .382 log at 7860 with the linear .618 at 7200 right in the middle. Recent action has blasted the price above the linear .382 suggesting possible support in the event of a correction in the short term. If the bulls make a good argument, the price could stabilize between the log .382 at 7860 and the linear .5 at 8500. This would be fantastic for the bulls!
To get a better idea of the possible angular momentum of an incoming bull trend, I’ve used a disjoint angle tool to measure the 2019 bear market, using it to produce a bullish fib channel (Yellow) inverse to the bear market. The confluence in the trend is obvious. Should we break above and outside of the 2019 bear market channel, I suspect the yellow fib channel may highlight the range of an incoming market reversal.
In conclusion, things look positive, but it’s too soon to tell. In part 2 we will dive even deeper.
BITCOIN - Market Cycle - Part 11Hello Everyone,
Currently, BTC is hanging just above the $7,100 marker as the Americans markets get advanced. Trading volume has been steadily decreasing across major trading pairs, including BTC/USD and ETH/BTC, signaling incoming decision time.
After BTC makes a significant movement (regardless of whether the move was up/down), it typically needs to hold momentum. Without doing so, history has shown us is that *down* is the way we go.
At current, BTC and the rest of the crypto market are fighting against a souring Chinese narrative being spun and promulgated by media outlets worldwide. Nevermind that China is bullish on blockchain, what the market is latching onto ever more tightly is the message that the world's most populous country is anti-crypto.
That wouldn't matter much if the rest of the world were up to the task of carrying the market, but so far, no one has stepped up to the plate.
So, what happens next?
$3 Billion Exit Scam Suppressing the Market?
Until CoinTelegraph broke the news about PlusToken, a $3 billion exit scam that mostly took place in Asia, few Westerners knew of the story.
To make a long story short, PlusToken, a purported crypto investment platform and wallet, scammed about $3 billion worth of BTC, ETH, and EOS from predominantly Chinese and South Korean investors.
Few inroads have been made regarding the whereabouts of PlusToken's founders after they disappeared in June of this year. A handful of blockchain analysis firms of vaguely concluded that vast sums of crypto from wallets associated with PlusToken may be suppressing market prices with shuffled digital assets.
Crypto Twitter Remains Largely Bullish, but Some Disagree, believes that the market is due for at least another leg down. The case for a drop to the low $6,000s before finding a bottom sometime in January 2020.
A large drop to the $6K region will likely be preceded by a smaller step down to $7K flat, which is ominously looming just below the market's current standing.
Others, including famed trader Peter Brandt, see strength in BTC's current position, with Bloomberg's crypto outfit even speculating that short term prices may head above $8K.
As always, time will tell.
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