BTC new bottom target hi Guys,
about bitcoin have a signale negative by week, so it's made a shape double top, with low volume so the next point of bitcoin New bottom target bettwen 10K and 14k.
Ideabitcoin
Bitcoin going down again?BITMEX:XBT
Is Bitcoin going lower again?
What do you think?
I am still bearish atm :(
Bitcoin Eye targetting $6464 TodayXBTUSD Technical Overview:
Pivot: $6311.4
Key Resistance: $6354.5 - $6397.17 - $6431.5 - $6465.83 - $6542.43
Key Support: $6277.5 - $6243.17 - $6200.5 - $6157.83 - $6080.3
Technical Indicator:
Moving Average: SMA200 ($6392.43) & SMA100 ($6452.78) Strong Resistance for Bitcoin today.
RSI: RSI lacks downward momentum (above 50 level), forming a symmetric triangle, getting ready for BIG move.
Most Likely Scenario Long position above $6311 with target $6397 - $6430 in extension.
Alternative scenario Short below $6230 with target $6150 - $6080 in extension
Overall, the upside for Bitcoin and the broader market were comments from the SEC Commissioner that were crypto friendly, the Commissioner stating that the government shouldn’t pin back the expansion of the cryptomarket by limiting the release of new crypto products.
While U.S Commissioner Peirce is considered to be on the “For” side of the crypto camp, the comments were certainly supportive following a string of Bitcoin ETF applications being declined.
As the markets prepare for the Mt.Gox flood of cryptocurrencies, a Bitcoin ETF approval and inflow of institutional money would be quite timely, particularly when considering the fact that institutional money should smoothen out the volatility, though ultimate influence may well reside with the Bitcoin whales.
Thanks
YoCryptoManic
Bitcoin Trying to Get Strength Looking maintain at $6400 levelBitcoin Technical Overview:
Day Trading Range: $6200 - $6500
Key Resistance: $6430 - $6455 - $6500 - $6545
Key Support: $6343 - $6300 - $6280 - $6220
Technical Indicators:
RSI: Indicators shows upside strength, moving above 50 level.
MACD: MacD having volume between 0-25 level which indicate short term upside bias.
Moving Avg: SMA20 ($6291.5) support & SMA50 ($6419.12) resistance for the day.
Most Likely Scenario: Long above $6280 level with stop at $6142 & target $6430-$6480 in extension.
Alternative Scenario: Short Below $6280 with stop at $6430 & target $6200-$6150 in extension.
Overall Review:
BTC/USD has been creeping higher since September 8, well-supported by the upside trendline. A sustainable movement above $6,300 created a bullish momentum and pushed the price through the upper line of a triangle pattern (currently at $6,350), which is considered a positive development on the short-term timeframe.
The next resistance is created at $6,400 and followed by $6,442, which is produced by SMA50 (4-hour chart). This handle is likely to stop the upside for the time being; however, once it is cleared, the recovery may be extended towards $6,500.
BTC/USD is in recovery mode as long as it stays above $6,300. This psychological level is strengthened by a cluster of SMA100 and SMA50 (1-hour), located at $6,290. If it is broken, the sell-off is likely to continue towards $6,220 (the above-mentioned upside trendline) and $6,200.
Thanks
YoCryptoManic
Bitcoin Investors Looknig for EU RegulationsBitcoin Technical Overview:
Day Trading Range: $6230 - $6665
Key Resistance: $6530 - $6580 - $6630 - $6665
Key Support: $6410 - $6330 - $6220 - $6150
Technical Indicators:
MACD: Indicator shows Bullish Divergence but still did not get Bulls Power Volume.
Moving Avg: SMA200 ($6665) strong resistance for the day and next resistance SMA100 ($6861).
Overall, For the Bitcoin bulls, the positive would have been to break back through the day’s first major support level by the day’s end, though there were plenty of negatives, of particular concern being Bitcoin’s inability to keep up with the broader market, with most of the majors making solid gains on the day.
Support late in the day came off the back of news hitting the wires of a potential Bitcoin ETF application that may find a more accepting SEC though there’s more than just Bitcoin ETFs for investors to consider at the moment, regulators and government officials continuing to take a close look at the market.
For the Bitcoin bulls, the threat of a return to sub-$6,000 levels is significant, particularly when considering the planned review of ICOs and the Cryptomarket at next week’s EU finance ministers’ meeting, which could deliver a blow to the broader market ahead of the planned roll out of unified rules and regulations by the G20.
Thanks
YoCryptoManic
