Bitcoin Update! BTCUSDFollowing my last forecast on bitcoin, it is now presenting us with another buy set up and this could be the move that will help us complete wave 5 of this correction just above 8k and from there I expect the market to give us one more leg to the downside where we have a trendline support just before our previous structure low and either of them could help up us resume the long term bullish trend.
I've also attached my last analysis on bitcoin below.
Any comments and opposing views are welcomed
Cryto
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Check the chart :
BTC Dominance (Prj.Y19.P2.E16).To drop furtherAs per Chart (3D), the bearish formation is taking place and it reciprocates the bearish tone of BTC.
For now, I see the 1st target in the 66% range, as per chart.
This could represent the next level of BTC in the 6K's.
The RSI also supports the Bearish tone in the BTC Dom.
Bitcoin break down support 8900$. Bitcoin price action break down important support at 8911$. Current hold above 8700$. Potential plan A target 0.618 fibs price level at 8553$, Next target Prev. Montly open at 8300$, Most bearish at 7950$.
Volume: Sell pressure increased, confirm bearish price action.
Indicators: RSI bellow 50 points, MACD bearish crossover bellow zero line. Bearish sign.
S/R: Support at 8700, Major Support at 8300, Resistance 8911, Major Resistance 9329$ 0.382 fibs.
Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
LTCUSD pressure buildingLitecoin has come under severe downside pressure towards the $50.00 level, following a heavy decline in the broader cryptocurrency market. Sellers could now target the $36.00 support level, as it has been a long-term bearish target that has yet to be reached. Overall, the LTCUSD pair will need to rally above the $60.00 resistance level to reduce intraday bearish pressure.
• If the LTCUSD pair trades below the $50.00 level, key support is found at the $44.00 and $36.00 levels.
• If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $60.00 and $66.00 levels.
XRP for a smll RECOVERY?? (SELL)
XRP Thesis
- Weekly: Last weeks candle closed as a bearish engulfing closing below 0.2500 major weekly zone taking out previous weekly lows. XRP could move a lot lower.
- Daily: Price has overextended to the upside breaking above 0.2600 taking out previous highs. Yesterday candle closed as a shooting star signalling bears could be ready to push XRP back down to 0.2600 for recovery.
- 1hr: Retest of 0.2850 has just occurred with H&S Pattern forming signalling reversal to 0.26000 is on the cards
Time to choose, Bitcoin.Hello Traders!
Here it is, the key point.
The price is clamped on both sides and now she needs to make a choice. From below, the strong support line doesn't allow Bitcoin to fall, and from above the resistance line doesn't allow to rise.
In case of breaking through the support line, I expect a quick impulse down to the support level 8940 near the support line.
If the price breaks the resistance line, I expect a more smooth growth at least to the resistance level 12000 (at the intersection with two resistance lines)
BTC (BLX:Brave New Coin) M,W,D Simple Case for BullishI see some promising signs from a very simple perspective without using much (I'm sure people will say your brain included... but haters gonna hate and potatoes gonna Po-Tate). To keep this simple:
1. On the monthly 9 MA Penetrating through the 20 MA is a positive sign, its like the first time your with a new partner in bed, Its exciting, momentum has been building and BAM! Ready to rock, Shoot for the moon!
2. Pull back on monthly volume looks clean, I could see an argument the other way but lets be honest I am not a Pro and I am willing to admit I have a bias.
3 Note: On Monthly the light gray are just some additional supports I watch personally to watch for hidden supports and resistance, they are also utilizing wicks and depending on who you talk to, my favorite knock at wicks is "Don't be dick stop playing with your wick"
4. Stochastic on the Monthly and Weekly looks good and ready, however the Daily not so much. In my world of Candy canes and unicorns I want to believe we go sideways for a handful of days into next week, and then We see some magic happen or well lets just say Get rich or die trying...
5. Interesting on the Daily the Flag which fits well into the larger Monthly flag, could pack a powerful punch or slap us in the face and take our money!
Let me know your thoughts!
Get ready people lets see where we end up. Hopefully I can buy my virtual yacht with my virtual currency!
BTCUSD Possible Macro Descending Triangle Hello Traders,
BTC update on the larger scale, we could be seeing yet another descending triangle after this parabolic rise,
Points to consider:
- Parabolic rise into descending triangle
- Completion of possible wave 5
- Three Touches confirming price resistance, macro lower highs
- Volume Tapering off in a similar fashion
- EMA's looking to turn bearish
- stochs also showing more downwards momentum
BTC price action is looking more similar to the previous macro descending triangle that broke the well established $5,800 - $6,000 zone. We could see BTC retrace back to support (Green Zone) in the near future and if price holds support and bounces, then the likely hood of this being an actual descending triangle increases. Right now we need more price action on the longer time frame to confirm if this is the start of another potential larger move to the downside...
What are your thoughts ?
and remember,
“Learn to take losses. The most important thing in making money is not letting your losses get out of hand.” - Marty Schwartz
BTC Bitcoin - Weakening short-term#Bitcoin got smacked down right in the target area I posted last night. Actually, it couldn't quite get to my target - weak.
It might try to tag that line again but unlikely. We now have multiple resistance/sell levels: Right here at 11,900, 12,350, and back at my blue line in the 12,800 range.
BTC is going to have to at least break through some of these resistances before I can get positive again.
#BTC $BTCUSD #crypto
XLM found supportI was expecting Stellar to fall down to 730, but some really nice volume met it at ~915 support. Might push up from here. Here is my setup.
Pullback buy zone 915-935
Targets 995 - 1045
HODLer's candy 1020
Stop loss below 898
Stopless strategy - double order at 730 and sell at 900
Risk/Reward Ratio 1.8 / 3.3 (for main targets)
BTC falls but where to next?The double top scenario looks to be playing out although for the time being BTC has found some resistance in the 7500 to 7600 range. Honestly I don't think this will hold with the main resistance being around the 7200 mark. There was very clear weakness around the low 8000's level with the double top, failure to break out to the upside in the symmetrical triangle that followed and massive bearish divergence on RSI and Stoch. Currently all momentum indicators on various time frames are bearish so buying now would be like trying to catch a falling knife.
In my previous analysis I wrote that BTC always retractes around 30% following a spring/summer rally so in my opinion this could be the beginning and is actually very good news for future price growth. I think a rise in price at this stage to 10K would have been very unhealthy and would have attracted a ridiculous amount of bears.
Best to wait. IMHO next stop around 7200 but remember always DYOR!!!
BITCOIN IS HEARTLESS!!Last night after bitcoin had a HARD pull back to the previous support levels of 5450, the bulls are slowing trying to gain enough strength to move back up to the 6k levels. But will the bears hold them back??? It is possible the bulls will fail and we fall lower to the next support levels are 5300. Cryptocurrency is a complete SAVAGE market be safe out here guys!
NAV Risk Reward to good to not enterNAV showing good support at the bottom of the long term trendline. Stoch RSI clearly indicating a buy. Risk reward too good to miss out on. This is a long term trade with great return potential. Closer in NAV shows a solid floor and eagerness to breakout.
NAV has just become the first cryto currency to be officially declared carbon neutral which seems very bullish news. NAV also has the new anon system ZeroCT to be implemented in coming months and an air drop for the Valence platform so this one seems very positive.
More generally alts are likely to start making recovery moves soon throughout the market.
Tron looking to test downtrend resistanceAfter making insane gains last year TRX has slid down over the year and found support and made a jump to test downtrend resistance in the past few days. If it can break the red line we got a possible long opportunity, if rejected and the blue line fails to hold the right triangle setup would be a strong short/sell signal.
$cmt and its struggle to breakout.CMT has been accumulating for long time now and should breakout in coming week.
open a position only after it breaksout.
Do share your opinion about my analysis and hit a like if you agree with my thoughts.