BTC DOMINANCE IS IN THE RISING CHANNEL. BTC.D MIGHT FALL Hi everyone.
We are in the btc golden cross period. And It is very bloody for altcoins.
Altcoins has lost huge amount of their value in this period.
Goldencross
Bullish S/R flip and DMA Golden Cross on UPS.UPS is currently building support on top of old resistance around $112 (which confirms the bullish support and resistance flip), and is consolidating in what looks to be a bull flag-like pattern. We also have a daily golden cross (50 day moving average crossing the 200 day moving average) and we could see the momentum continue to carry this stock higher. R/R is pretty good here, but I've had what I thought were good setups turn south pretty quickly (EA and SQ for example), so be cautious and use proper risk management if you decide to take this trade.
Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.
Entry: 112.30-114.50
Target 1: 118.00
Target 2: 120.60
Target 3: 125.00
SL: 110.50 (below the 50 and 200 day moving averages, and below our support zone at 112.)
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
The Actual Golden Cross Hasn't Happened Yet - EMA50/EMA200Good day Traders
Bitcoin price action has been showing exhaustion for the past few days now so not too surprised that we finally corrected. Perfect timing for the tether FUD to act as a catalyst again, although this time things are a bit different it seems.
If you recall in October 2018, when Bitfinex lost yet another banking relationship, everyone piled out of USDT into other stable coins, and apparently into bitcoin, spiking BTCUSD to $6750 in a matter of minutes. This time round there hasn't been that rush into BTC, in fact quite the opposite, maybe people are starting to become immune to tether FUD after the upteenth time!
The New York Attorney General seems to be on Bitfinex's case about a $850 million shortfall which was covered using tether holdings, although this is all narrative yet again imo unless Bitfinex is actually in financial difficulty which I find quite hard to believe based on recent trading volumes at the exchange.
Most traders have been watching for the daily SMA50/200 golden cross when this actually gave us a false signal in 2015 on the 1st attempt with price crossing back below both moving averages after the first attempt before finally crossing months later. I believe we have the same situation today.
If you go back to 2015, a more reliable golden cross was actually the daily EMA50/200 . Whereas SMA50/200 had a failed cross on the 1st attempt, EMA50/200 hadn't actually crossed on that attempt, instead we had EMA50 kissing EMA200 before dropping back and the only cross we had was the actual buy signal. Today, we currently have EMA50 kissing EMA200 but we probably won't have the golden cross just yet for a few months to come imo.
Looking back we seem to be printing a large bear flag with a flag pole reflecting a 63% drop from the pole height to our 2018 lows. I suspect we have 3 options here depending on which support holds, although I still believe the 3rd option is most viable:
1) Bitcoin drops back to and finds our uptrend support around $3800 before going on to print a higher high.
2) Bitcoin drops below our uptrend support back to the trendline resistance turned support from our ATH, somewhere around $3300 before breaking back above our prior uptrend support and the $4-4.2k horizontal resistance.
3) Bitcoin breaks down from bear flag support. The target is based on the same pole height from the recent $5600 resistance which gives us a target of around $2k. From $5k, I think we head back to our $4-4.2k horizontal support for a failed retest. After $4k doesn't hold, $3800 will probably not hold either and we'll head back to support of our main trend line from our ATH which we broke above in March, to somewhere around $3300. We should bounce from $3300 back to our $4-4.2k horizontal resistance and flag support turned resistance, in the process printing a right shoulder of a larger H&S pattern which will have us targeting $1850 - $2100 after breaking neckline support.
Both targets coincide with strong horizontal support around $1850 and a 1.214 fib extension of the flag pole height, although we could potentially have a 1.382 fib extension wick down to $1k with enough sufficient panic since we only had a 38.2 fib retracement recently.
We also have strong sell signals on the daily NVT, the weekly NVT, with no buy signal yet, and we're just about to have a bearish DMI crossover with strong ADX trend!
Good luck and happy trading!
Here is the 2015 scenario. Notice the EMA 50/200 cross, the 1.272 fib extension, the NVT buy signal after bottoming, and the 60% drop from bull trap highs :
Amazon: Golden Cross spotted. How did this trade in the past?AMZN posted a Golden Cross formation on 1D (MA50 crosses over the MA200) yesterday following an impressive EPS. Technically this is a heavy bullish signal.
It is productive to look at how this pattern traded in the past. Since the 2008 Sub-prime mortgage crisis this pattern has been printed another 5 times:
* In 2016 it emerged shortly after a Death Cross (the opposite formation) and after an initial 4 day pull back it gaped up aggressively.
* In 2015 it emerged shortly after (around 20 days) a gap up and after an initial pull back and consolidation it gaped up again aggressively.
* In 2012 it emerged again shortly after (around 20 days) a gap up and after an initial pull back and consolidation it rose aggressively. Note that the candle action is quite similar to the 2019 setting in duration and formation (Death Cross followed by Golden Cross).
* In 2010 it emerged after a strong bullish run, consolidated and continued higher on a steady Channel Up.
* In 2009 it emerged after the 2008 crisis bottom was formed (a little over 4 months), and continued higher on a steady Channel Up. Note that the candle action is quite similar to the 2019 and 2012 settings in duration and formation (Death Cross followed by Golden Cross).
As you see in all cases AMAZON rose significantly after the occurrence of the Golden cross. In 3 out of the 5 cases the price even pulled back on the very first few days, so if that happens again it shouldn't mislead investors. Also in all cases the formation occurred after a Death Cross, with 2015 being the longest, 2016 the shortest and 2012, 2009 very similar to the current (2019) candle sequence.
Taking into account all the above, we are remain bullish on AMZN targeting initially 2,040 and 2,300 in extension.
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Bitcoin Price Action Update (day 343)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
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Consensio: S EMA getting close to crossing L EMA
Patterns: Bottom of descending triangle is at $5,800
Horizontals: R: $5,589 | S: $5,306
Trendline: Kind of looks similar to gold with a long term bull TL starting from the top of the price with a recent broken bear TL.
Parabolic SAR: $5,115
Futures Curve: Backwardation
Funding Rates: Longs receive 0.03%
Shorts: Really starting to increase
TD’ Sequential: Coming off G9 + bearish spinning top
Ichimoku Cloud: Daily starting to C Clamp. Weekly stilll without bullish TK Cross.
Relative Strength Index: W: 60 | D: 70 with bear div
Average Directional Index: Daily showing strong signs of exhaustion. Looks very similar to BTC selloff to $3,000.
Price Action: 24h: +1.01% | 2w: +8.94% | 1m: +40.69%
Stochastic Oscillator: D SS & W OB
Summary: The golden cross is incoming and the price is pulling back into it, however I am awaiting further confirmation before buying. The market is heavily overbought and I believe it is due for an extended correction (1 month+). Furthermore we recently had a news development that could be very significant.
The current market structure is very much an inverse of what we saw during the selloff in December of 2018. First notice the bull divergence on the RSI that occured from November 24th - December 16th. That occurred right alongside two daily red 9’s. We currently have a bear divergence following two green 9’s.
The Average Directional Index is also showing striking similarities. Spiking above 70 and then rolling over right as the bear divergence was taking place. This tells me that we are in for another extended period of consolidation.
If that occurs between $4,200 and $5,600 (what I think is most likely) then it will likely cause the 50 and 200 EMA’s to cross back and forth which would whipsaw anyone using that signal to enter / exit. If instead we consolidate between $4,700 and $5,000 for a few weeks then I will likely be a buyer. That would mean that the price is staying above the 50 and 200 EMA and a whipsaw would be much less likely.
Something else to pay attention to is the CME futures expiring tomorrow. The price has a strong propensity to experience volatility following expiration of CME futures despite the small relative volume. Perhaps this is a result of crypto exchange volume being largely fabricated , as was argued by Bitwise Asset Management last month. If that is the case then the actual volume on the CME futures could be far more significant than many realize.
Earlier this afternoon it was announced that the New York Attorney General will be prosecuting Bitfinex . The allegation is that they commingled client funds to cover up a $850 million loss. The NY AG maintains jurisdiction because he believes Bitfinex has been servicing clients in the state of New York.
The price fell 8.5% in the 30 minutes following the press release. Now it has started to stabilize around $5,000. It will be very interesting to see if that support can hold much longer despite the overbought conditions and negative news.
Perfect Rejection Played Out ? What will happen now ?Hello Hoomans.
I'm making a part 2 of my TA because my previous call was perfectly on point, so i'm here to catch up with you guys.
As you can see on the daily charts both of the sticks got closed below the line showing a great resistance in the weekly and daily chart, and that was exactly wat i called on my previous TA (test of the 100MA weekly & 350 daily)
At this point i'm very confident it is topping out but i'm not leaving out any retests at this point, if bitcoin holds support at the 5350-5400 there is a big chance that may happen.
Please like & subscribe so i can keep making TA's & Positions
MY PREVIOUS CALL:
Bitcoin (BTC) Chart Shows First Golden Cross Since 2015Bitcoin's 50-day moving average officially crossed above its 200-day moving average on Tuesday as the price surged to $5,600.
$CHOOF - $ACB LARGE STAKE - MJ PLAY - 4/20$CHOOF - $ACB has a large stake, MJ play for April before the 4/20
Low float runner could go ballistic to dollars, slingshot daily is now in a confirmed uptrend. Golden cross is imminent.
NULS/BTC - Setting up for potential 62% upswing soon!I am seeing several bullish signals in the NULS/BTC chart here that I would like to share with you. Most importantly we have a golden cross with the daily 50 EMA crossing above the 200 EMA. We also see price maintaining above the volume profile POC and a few huge spikes in volume that signal major accumulation. This one has potential to go much higher than the targets I have listed but I would be locking in some profit at those levels.
BTC Pushing higher... again! Golden Cross! Resistance incoming?Last chart we were sitting down around $5200's and ideally looking for BTC to hold that support area between $4900-5200. Bulls continue to show up and were able to get another push higher. I am changing to daily time frame now as BTC is really starting to look good again.
Only near resistance I had left on my last daily chart posting was up at $5665 (a previous high from back in November) and the move last night came within $15 of touching that level. Assuming the bulls are eventually able to break through that level, I will be watching a fairly decent range of what I anticipate will be heavy resistance. I have outline it within the colored box and it runs roughly between $6,000 and $6850 where BTC sat range bound for over 2 months in late 2018. Other things worth noting here on the daily chart. Supports are there and outlined a few key levels (green lines) with $4778 continuing to be crucial level but would love bulls to hold $4945 (or call it $5000 for those who enjoy more rounded/key levels). Also keep a close watch on daily 12 EMA. Bulls have held this as support for nearly a month now which is very impressive. And lastly we saw a Golden Cross occur (highlighted with the circle)... this has not occurred in BTC for years and should be a bullish sign. Lets see if the bulls can keep the climb, maintain their supports and start testing this box of resistance above!
Just My 2 Sats!
GOLDEN CROSSJust look at the chart. Last time this happened was October 2015
I am a bit excited to see an event like this because Ive only been doing TA for a bit
BITCOIN Golden cross & regular bearish divergenceHello fellas!
We have an interesting day on BTC-USD daily chart, bulls seems to be exhausted RSI and MFI levels are decreasing while the price is going up witch means that we have regular bearish divergence, also volume is decreasing while price is increasing another bear sign. We are in a bear flag formed from the beginning of April. At this price levels we have some resistance also on November 2018.
In contradiction with these bear signals today MA 50 and MA 200 had crossed formed a GOLDEN CROSS witch is a bullish signal, from my point of view we will go DOWN, I think it's just a bull trap let's see what will happen in the next few days, we could see a correction to 0.786 Fib. level witch is around 4200 zone so I will SHORT some BTC.
This is not an financial advice, take care of your money!
Breakout of triangle seems confirmed/goldencross!Still waiting on volume confirmation but looks very likely to be a legitimate breakout...the question is will it breakup to only the target of the triangle or will it go the height of the entire bull pennant? Also could use a little more volume here for confluence of the breakout confirmation but the current daily candle looks very bullish so it likely will be a legit breakout. Important to keep a close eye on the weekly charts 50 ma which is currently strong resistance...fi we can flip it to solidified consistent support then we may not see our follow up higher low anytime soon afterall...but we need to flip it to support and solidify it as support first. Looks like the bull market might finally be arriving. Perfect priceacion coinciding with our just achieved golden cross making me think we may just sustain this golden cross and might not have to deal with the possibility of a deathcross fakeout afterall.
BTCUSD. Golden Cross + Bullish Pennant PatternGolden Cross incoming (50MA cross up 200MA) + Bullish Pennant Pattern.
Be ready, something will moved soon!
Last time the 50 MA crossed the 200 MAOctober 2015 was the last time we saw this happen. Just look at the price action after the cross
BTC which way will you go?Hi,
We can see BTC/USD has broken it's symmetrical triangle to breakout of the long term downtrend. it has now created a bull flag or ascending triangle. As we know BTC is great at painting pictures and then going the other way.
If it breaks up and runs whole length of the flag pole we are looking at it breaking back into the previous resistance area, if it breaks down with one of its famous Bart Simpson fractals (possible double top inside the ascending triangle to watch also) and also runs the length of the flag pole we are back down into the previous support area.
note the Golden Cross looking to happen on the daily chart, yes this is a great bullish sign but does most certainly not mean that it will sky rocket to the moon. many times after a massive downtrends will indexes, stocks and alt coins cross back with a Death Cross only to rally slowly in the upward direction to show strength and long term rigidity.
up to you. not advice just an opinion.
enjoy the charts,
Boo Cha.
XPO, time to go long. Hello world.
A little Ta, we got a golden cross, from EMA 20, and MA 50, some strong updays, wait for a little pull back, and watch for the long side.
Good RR, remember earnings 1 may AMC
The stock, begin to perform better then S&P 500.
And it did broke the trading range.
The famous Bitcoin GOLDEN CROSS explainedThis is our first video Trading-Idea!
Don't forget to like it and comment your thoughts.
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BFCMInvest
EOS looks like its up to somethingEOS has been consolidating for the last few days now - as all things do after any kind of run - and it might be time for another move. After some serious gains these last few months EOS looks like it could be hungry for some more. Idk if I'm ready to say we'll see a huge move right now, but I could see us going to test the overhead supply @ $6.04 which has been keeping us down since September.
Droppin it to the lower timeframes I think supports my hypothesis even more.
Current goldencross trajectory for BTCUSD set for April 23rdgetting exciting here in bitcoin world as the 1 day ascending triangle pattern continues to play out and keeps sharpening the trajectory of the 1 day 50ma thus moving the goldencross date ahead...as log as we go sideways for the next few days or further upwards we should see the goldencross by april 23rd. My guess is it will coincide with a break upward from the 1 day ascending triangle pattern. However there's a chance this may be short lived because we will still have to contend with the strong resistance of the 50 simple moving average on the weekly chart(not shown here) just above the triangle and it will be a true challenge flipping that moving average to solidified support...the initial test could result in a rejection that creates a brief deathcross shortly after the golden cross and scares everyone out of the market...but if this were o occur, my presumption is it would only be brief in order to form a higher low in the daily price action and then we would likely see another higher high to follow it up and flip the 1 day 50ma back into s golden cross with the 1 day 200 that is much more sustainable. So its wise to keep a close eye on the weekly 50 ma to see how it handles its next testing by the price action. There's also a chance that we may blow right past it and flip it to support the first time we test it but it is somewhat less probable. another pattern to keep an eye on is a potential head and shoulders pattern on the 4hr chart that is currently in play inside the ascending triangle. if we triggered it we could potentially breakdown all the way to the 1 day 200ma but if we break up from the triangle first and test the weekly 50ma that may be high enough to invalidate the 4hr head and shoulders pattern. Whatever the outcome...it should be a very exciting end of april/beginning of may for crypto
goldencross/potential adam&eve dbl bttm brkout on ETH imminent?Keep a close eye on this one folks...we can see that we could have an official goldencross on ETHUSD as early as tomorrow and it just so happens to align with the price action currently peeking its head above the adam and eve patterns neckline....we can see stochrsi is perfectly positioned here for a bullish move as well...of course we need to see a big bullish volume surge here in the next 2 1 day candles to confirm this breakout and need to factor in the possibility of a fakeout until then but it does seem we have several bullish pieces aligning at once...also btc has already broken out of a similar pattern an reached the breakout target so it would make sense for eth to also do so in order to catch up with its big brother. As always I will wait for bullish volume for confirmation but I will also be laddering in conservatively here with smart stop losses until that volume confirmation...if we do confirm our target should take us above $240
Golden cross is very near! Good sign for BTC overall!Hello crypto traders and hodlers,
i have a great info for each of you :)
The golden cross is really near and this means we turning the trend longterm in the bullish direction!
This doesn´t mean that the price would never go more down, it´s more than likely that we generate a double bottom (near 3.100, +/- 500 USD).
So if you want to go for the longterm hold like me, the next few weeks, maybe 1-2 month could be the very last chance to buy cheap bitcoin.
No financial advise!
Hope you doing well so far, it was a long way to the downside, many of you would lost some hope, but i think there is a so bright future in front of us :)
If you want to see my longterm prediction, visit my other charts.
Greetings and wish you all good luck!
