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Crypotrading

BTC - No Longer in an Uptrend - What Now? Where to From Here? Bitcoin appears to have broken the established uptrend, with a clear break and multiple closes below the outlined trend line (red line). It is my belief that a primary driver of the selloff in bitcoin was due to the sharp selloff in the equity markets, and the need for liquidity for margin calls, as well as risk re-balancing in portfolios. What appears to have happened, is the uptrend that was establishing itself in Bitcoin has stalled due to the market shocks and the uncertainty surrounding the Coronavirus. It is worth mentioning that fundamentally nothing has changed within the space and the use case for Bitcoin and indeed the altcoin market is as strong as ever. What this selloff does indicate however, is that the bigger players, the institutions still just view Bitcoin as a high risk speculative play, which represents risk that they would prefer not to have with the current economic backdrop. Central Banks to the Rescue Looking on the macro side of things, the Coronavirus and the broad market impact being felt is actually very bullish for Bitcoin, as central banks around the globe begin to fire up their printing presses in an attempt to stave off the deflationary effect that quarantine measures will have on their respective economies. Broadly speaking, i believe that Bitcoin could retest the prior lows, particularly if stocks suffer another sharp drop, although i believe that this is more of a speed bump rather than a complete derailment for Bitcoin. Technical Outlook: On the technical outlook, Bitcoin is certainly exhibiting signs of a near-term oversold condition, with a move that has taken Bitcoin to the bottom of the 10x Keltner channel, this also lends credence to the notion that institutions have exited a large portion of their holdings. This area has also acted as a strong level of support in the past, signaling the 2018 market bottom, i would look for a bounce from these levels, to at least the 9ema, currently around the $6,500 USD mark, at this point i would expect to see another wave of sellers enter the market. If we fail to bounce and begin to consolidate at these levels, this may be an indicator that most of the sellers have already exited their positions, or were stopped out of them in the 50% drop. It may also be a sign that there are simply not enough buyers willing to step in cause a price increase. The very high relative volume may also suggest that most people did not voluntarily exit, but rather were stopped out, this may have been due to close below the underlying trendline, this triggered sell orders, the price then was in free-fall until it hit booked buy orders at the next level of support. Conclusion: If you were bullish on Bitcoin at $14,000 USD, $20,000 USD or at any level in between, then a fall to $5,000 USD should be considered a gift, rather than a curse. Because nothing has changed within the space, the use case is still as applicable as ever, the only issue is that a short-term rush for liquidity has done a number on the price. Sources: Australia: www.abc.net.au United States: markets.businessinsider.com Hong Kong: www.cato.org Italy: www.bbc.com
BITSTAMP:BTCUSD
by Profit_Link
BitCoin BTC/USD (The middle class pipe dream has rude awakening)Did you follow our SELL call on Bitcoin toward $8,500 region? Congrats. What a profit we bagged. This little fairy dust is likely to fall further, as long as the price of it can't retake the region of $9,000. We are expecting it will fall further in the near future, towards $8,000 and $7,000 soon. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor. DISCLAIMER: Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice. Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
COINBASE:BTCUSDShort
by SonicDeejay
2
BTC attack on 10K. Bears in panic mode! FOMO starts now. BTC attack on 10K. Bears in panic mode! FOMO starts now. After the great advance of altcoins capital is now flowing into Bitcoin again (which was partially expected). When/if 10 000$ gets taken out bulls will clear an important psychological as well as technical level of resistance. This move might extend far higher than you'd expect. Stay hedged and do not over-leverage your trades. If not already in a long position opening one ow will expose your funds to a huge risk. Stay level headed. Happy gains!
BITSTAMP:BTCUSD
by megaprofits
Chainlink ready to retest the $1.95 support area? Chainlink, a highly correlated coin with Bitcoin in the past 18 months and one of the best performers in 2019. However, are we going to see continuation of that or are we topped out for now? Price rejected at the $2,33-2,35 resistance here, which could mean that we’re going to see some retests. I’d be expecting this downfall to occur if Bitcoin can’t keep on pacing upwards. Crucial for Bitcoin is a similar breakout to the upside in the next 24-48hours. Rejection and a lower high here and I’m aiming for $1,95 and $1,60-1,70 as potential long entries. If we break $2,33 and I’m going to play the retest towards $2,80.
by CryptoMichNL