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Longentry

Pullback time for BTC? Trendline/Tenkin/MFILooks like a good time to pullback, maybe get a 6.9-7.1k Long entry if you're bullish, or to see it as a "rejection" if you're bearish. This has been the strongest 've seen BTC in awhile, but it's good to be cautious and not get caught up in the bull sentiment when grinding a long term resistance trendline. The Trendlines, Tenkin line, multiple MFI bear divs on the 4hr, and the Daily stoch RSI that's been planted to the top for days are all good reasons to think we might be due for a "cool off". If we decide to not pullback at all and break up to 7.5+ a decent target is 8k. Good to keep in mind we have 33k shorts as fuel.
BITFINEX:BTCUSD
by teckno05
BTC: We Are All Saying 7800, But Here's A Case for 8000.An idea: Many times when there is a mass agreement being spoken about by everyone on an exact top or bottom (in this case we're all predicting 7800 for a strong bounce on a 618 fib level), market makers will surprise us by either pushing price below it or bouncing early. The 8000 level is at the bottom of a falling wedge and directly on a 10-month-old support line from July 2017 (I'll post a Daily chart soon showing the points the support line touches). While 7800 is definitely still a good possibility, be careful not to get stuck on an idea just because everyone is talking about it; in a market that moves like this one, things don't always go exactly as planned. Just some food for thought, nothing to bank on 100%.
BITFINEX:BTCUSD
by serekamina
3
Upmove inside channel over: New downtrend or another push up?Bitcoin has reached the upper side of its broader range, which is a slightly upwards pointing trend channel. At 12200 there was also a resistance level and the upper trend line of a steeper trend channel. Is this a reason to short at 12.200? I would say yes, but only for very experienced and aggressive traders (with tight stop). Another reason this level was a target: it was also a second leg up after the breakout of the tight range from 11.400-700. The marked long entries are signals to enter because you expect it to go up inside the range towards the resistances at 11.700 and 12.200. Both entries confirmed lower trendlines of uptrend channels. Targets for these trades would be at 11.700 and 12.200. What is going to happen next? Right now prices are working lower inside a downtrend channel, but there is support at the former resistance level (11.700). From this point we could see another push to 12.500. The uptrend channel has been broken right now, but often after a break we see a new high. But as long as the most recent small downtrend is still intact I also see downside potential, because BTC is still inside the broader range which means we could see 11.400 again in the next hours.
BITFINEX:BTCUSD
by FBlocktrader
Poloniex ETH/BTC Long Bullish SupportFirstly, we see in this chart that buyer pressure is much higher than selling pressure at this juncture. We are in a critical space where shorts should have easily broken the barrier but they barely grazed it. As you can see RSI is holding strong and stable through this "dump." Volume is a bit low, but that's how it is before the surge of buyers see money pouring into longs.I believe today we will break that triangle and follow in the proposed up-channel. There simply is nowhere else to go but up. The volume on Polo (at least) shows buyers holding strong till at least 0.0240, whereas shorts have a weaker position at 0.0270. I think the volume is like roughly 1750BTC:1250BTC. This is very telling because it is almost indicative of artificial sells to drive prices to a "good value" spot. This leads me to believe they too are bullish. As a result, I believe a good value position is right now. I personally will be taking a position.
Long
by DanRoth
1