Get started

LOW

Bitcoin aiming for another 1-Year Low+++++ Push the like "Like" to reveal hidden content +++++ Bitcoin heavy downtrend continues as yet again it reached a new 1-Year low, hitting $4210. Price remains in the support zone of $4375-4044, mentioned in our previous idea (). Market is going through a lot of stress and it will take more time for it to calm down. While the volatility is high, BTC/USD could go even lower, towards the 161.8% Fibonacci retracement level at $4055. At the same time, price spikes might fall beyond the support, potentially reaching $4k and below. Nevertheless, it would be important to pay attention to the daily closing prices throughout coming week/s. Talking about the short term upside potential, Bitcoin could be reaching the $4550 resistance level. This is where the most trading volume occurred over this week, and also confirmed by the 61.8% Fibonacci retracement. Although to have more confidence in the upcoming corrective move upwards, price must break above the 88.6% Fibs at $4700. This is where buyers might show interest in the Bitcoin and push price higher, at least to test the $5k psychological resistance. And finally, if price will break above $5k, the probability of a trend reversal will become much stronger, at least until price stays above $4k level. Support: $4385 $4055 Resistance: $4555 $4646 $4700 $5000
BITFINEX:BTCUSD
by CryptalDash
Bitcoin point of NO Return_____ Hit a “Like” button if you think Bitcoin will eventually hit a new all-time high _____ Bitcoin already trading at the lowest price over the past year. In the last 24 hours, the Cryptocurrency market has been bleeding. Bitcoin already crashed by 14.6% as price moved from $6500 down to the current low at $5500. This is a huge USD1000 drop in a very short timeframe, and the downside momentum might increase even further. Only true believers in Bitcoin would buy it under the current market condition. Obviously it would be an extremely risky choice, although over the long term, keeping the Bitcoin still can pay off. But what if Bitcoin will crash completely? Where is that point of no return? When the risk/reward is optimal? Now we’ll try to answer all those questions. Bitcoin - the King The blockchain technology is getting wide adoption with a massive use case throughout many industries. At the moment it seems there is no chance that it will just disappear, but quite opposite. From the other hand, it is not necessary that Bitcoin will be leading the way, and remain the Kind of cryptocurrencies. Perhaps in the future there will be the “ONE” who will push the great Bitcoin aside. But it does not necessary mean that the price of the Bitcoin will collapse. BTC might not be the most popular cryptocurrency, but it is likely to remain the most trusted one. Point of no return Ok, let's consider the scenario where Bitcoin will loose the status of “most trusted” coin…. Important: Not the blockchain technology, but only the Bitcoin. In this case it would be reasonable to expect capital moving out of BTC to other altcoin/s. Indeed the price of BTC would go through a great suffering, turning the long term uptrend to a long term downtrend. And this could potentially be that scenario of no return. But what is the probability of that happening??? Let us know down in the comments below. Price of interest Now it is reasonable to talk about the risk/reward. No one knows the future, but if Bitcoin will remain the coin of “trust’, the price is likely to increase over the long term. The buying opportunity is there, if thinking of a long term investment. Although to minimize the risk and maximize the reward, traders could be waiting for the lower entry price. Based on the ascending channel and Fibonacci retracement level, strong support level is based near $4800, that is 78.6% retracement. This could be a very interesting point of entry for some investors, but of course a risky one. It’s because if the support is penetrated, Bitcoin could crash even further to test $2.9k level that is 88.6% Fibonacci retracement. At $3k area there might be another hot buying opportunity of the Bitcoin. But if or when it will get that low is a big question. Positive scenario In the near term, the $4.8k support would probably have a lot of attention. If this level will be rejected, uptrend continuation can take place. One of the possible scenarios that BTC will go as high as $40,000, but perhaps only by the end of the next year. In any way, Bitcoin already entered the support area, which is between $4,800 and $5,755. In this area Bitcoin could spend quite a bit of time, nevertheless under the heavy volume there can be some fast and unexpected price movements in any direction.
BITFINEX:BTCUSD
by CryptalDash
2
THE WEEK AHEAD: BBY, DE, GPS, LOW EARNINGS; UNG, XOP, NFLXIn spite of the shortened trading week due to the Thanksgiving holiday, there are balls to hit out there ... . Earnings: BBY (95/57) (announcing Tuesday before market open): The December 21st 57.5/75 short strangle shown here is paying 2.42 with break evens near the one standard deviation line. I tried pricing out a defined risk iron condor, but it looks like some strikes need to populate post-November opex in order for me to price a setup where I'd want to set up my tent (i.e., short strikes between the 20 and 30 deltas, longs 3-5 strikes out with the setup paying at least one-third the width of the wings). LOW (78/40) (announcing Tuesday before market open): As with the DE play, I'm able to price out a short strangle -- the 80% probability of profit December 21st 80/105 pays 1.35, but not an iron condor due to the population of strikes around where I'd like to set up. I'll just have to wait until NY open to price a defined risk setup. GPS (87/54) (announcing Tuesday after market close): To me, it's small enough to short straddle, with the December 21st 26 short straddle paying 3.17, but I could also see going with the 23/29 (paying 1.05) to give yourself a little more flexibility with defense if you're not a fan of defending the straddle via inversion (which is generally what you have to do with a short straddle where the move is greater than the expected). Alternatively, the December 21st 21/26/26/31 iron fly pays 2.71 with a buying power effect of 2.29, which are the metrics I'm looking for out of an iron fly (risk one to make one or better; credit received at least one-fourth the number of strikes between the longs). DE (81/48) (announcing Wednesday before market open): The December 21st 135/160 is paying 4.53 with near one standard deviation break evens; the 130/135/160/165 iron condor in the same expiry pays 1.75. Non-Earnings Single Name: NFLX (69/54) still has some juice in it post-earnings. The December 21st 240/245/325/330 is paying 1.56 -- not quite one-third the width, but you're only working with 33 days until expiry. Exchange-Traded Funds: The top symbols: SLV (100/24), UNG (100/97), EEM (63/27), OIH (77/41), and XOP (77/42). Unless you've been living under a rock, UNG, OIH, and XOP "friskiness" are understandable here, with oil prices taking a header from more than $75/bbl. to a low $20 below that since the beginning of October. Conversely, a fire got lit under natty's ass due to seasonally early weather-related pressure, shooting up from a less than a 3.50 print at the start of November to 4.93 mid-month. It's eased back to 4.39 since then, but yeesh ... . Were it not natural gas, I'd be inclined to sell premium in UNG given the rank/implied metrics, but I'm patiently waiting for my standard seasonality play -- a downward put diagonal with the front month in Jan, the back month mid year. Since we're only in November with plenty of winter in front of us, I'm satisfied with waiting on more potential upside before pulling the trigger on that setup. With XOP and related products, I've been selling nondirectional premium, although I could see potentially skewing things bullishly, adding some petro underlying long delta to existing setups, or just taking an outright bullish assumption shot (e.g., /CL short puts, XOP/OIH/XLE short puts, upward call diagonals, etc.), since oil has been totally crushed here. Majors: SPY (31/21); QQQ (53/25); IWM (54/23); DIA (37/19). Temporarily, it looks like QQQ is where the broad market premium is at, followed by IWM.
NYSE:BBY
by NaughtyPines
4
Bitcoin volatility recovers after hitting 2-year low_____ Hit a like button to view hidden content _____ According to the relative volatility index indicator, BTC volatility recently tested another lowest low. Last time Bitcoin volatility was that low only 2 years ago, in October 2016. It shows an extremely strong accumulation phase, which is currently ongoing. A bullish breakout is something that most cryptocurrency investors are waiting since January 2018, when BTC/USD topped out. Slowly, but steadily Bitcoin is approaching the point where volatility will go ballistic and perhaps this is the time when breakout will occur. Most asking the question as to the direction of the breakout, as there are many concerns regarding the future of the Bitcoin. But at the same time, there are massive amount of optimism in the entire cryptocurrency space. Lets try to have an objective overview of the price development scenarios to be expected. The support On the 8th of September the uptrend trend line has been rejected, where BTC tested $6120 low. At that time it has touched the 88.8% Fibonacci support located at the same price. Obviously, since June, Bitcoin has established a strong support area between $6120 and $5858, while price has bounced off it many times.. The trend As long as support is holding, it would be reasonable to assume that probability of the price moving up is very high. In the worst case scenario BTC/USD will continue to consolidate, extending the accumulation phase. Another point to mention is the break above the 78.6% Fibonacci resistance at $6454, as after the break above, price found there support and produced higher high on the lower timeframe. According to our previous analysis on Bitcoin resistance has been taken out, which adds more points to the probability of an incoming uptrend. Also, Relative Volume Index indicator has reached and bounced off the lower trend line of the descending channel. And finally, RSI is about to break above the triangle pattern. Considering all these facts should help to produce a forecast with relatively high probability. The potential We have determined the probability of an uptrend remains very high at this stage. Therefore, upside targets have to be carefully calculated and studied. Fibonacci, applied to the downtrend trend line breakout, shows that nearest resistance is at $7k, which is 61.8% level. Along with the following 3 Fibonacci resistance levels, they should have a minor impact on the price. The strongest level of interest, that is key resistance, is seen at $9k, confirmed by 2 Fibonacci retracement levels. Slightly higher is yet another level to watch for, that is 88.6% Fibs at $9380. The risk As always, there is certain probability of the establishment of a downtrend. Taking into consideration recent price action, this scenario has low chance of success, although can’ be ignored. If BTC/USD will break below the $6450, price can go down to $6125 - $5858 support area. The invitation for bears would be daily break and close below the $5858, which would apply more pressure on BTC price, potentially dropping it down to $5k area. Summary: Now Bitcoin is looking bullish, as multiple times sellers failed to take over. Although the fight between bulls and bears continues, the probability of an uptrend is higher, as long as $6450 support will hold. The next bull run might be about to start, that can bing BTC up to $9k area. Yet, investors should have a clear strategy for exit in case of an unexpected downside breakout. Key levels Support: $6450, $5858 Resistance: $7000, $9000
BITFINEX:BTCUSD
by CryptalDash
Market recapWell VIX watchers...the week ending November 2nd, 2018. The Cboe VIX has dropped 20% from weeks high on Tuesday and a near bottom buyers market. Based on Fibonacci retracement we're below 0.500 retracement nearing 0.618. When we hit 0.786 retracement next week, or below 15 we'll start to see some sell offs taking profits. We've tested the low, but is there another round of testing from big money shaking out more after the VIX profit grab. Some expect yes, but not for another 3-4 weeks, which could drive things to a new low for 2018. So watch your 4h VIX and stay tuned if you want to buy more on next likely dip. How about Alex Cora and the Red Sox, reminds me of the Troy Brown New England Patriots. Team sports back in Boston. Interested in Vanadium battery stocks, so what do you ghat? Oh, sorry. Forgot this is crypto-forex channel. Signing out, happy Friday @pokethebear. Energous IPO coming up. Let's hear about what you forgot to buy cheap next week and nice thing about crypto-forex.
CBOE:VIXShort
by Pokethebear
made4hr higher low & w/current bullbreak higher high anticipatedNice bullish break here puts us over both the 4hr 200ma(in blue) and on the 1day chart(not shown) we have now gone above the 1 day 50ma again which is a fantastic sign. The 1 day candle also looks very likely to close as a big bullish engulfing candle as well which should lead to more upside. Another bullish signal is the fact that it looks likely we may see a golden cross on the 4hr chart within the next few candles. We are also currently in a higher high/higher low pattern on the 4hr chart and looking to follow up the recent higher low with a higher high. To achieve the higher high we will need only to reach around $6840 which judging by our recent bullish breakout is very possible...in fact I think we will likely find our price action heading all the way up to test the top trendline of the current ascending channel we are in (in red) before dipping back down to hopefully simply form another higher low and continue the bullish pattern. If we can eventually break through 7k that will be a really big sign that the bull market may in fact be imminent. We are still awaiting a golden cross on the 1 day chart but staying above the 1 day 50ma will be crucial to speeding up the arrival of such a cross.
BITFINEX:BTCUSDLong
by DrDovetail
NCI Constructively forming handle base at 15.75 after 6-7w cupNCS NCI is a near $2B business, which just merged with Ply Gem Corp. also $2B business forming larger construction and engineered products business * Forming handle in likely break from Fibretrace 0.786 at $15.75 to $17.00 indicating break-out * Drop to 14.10 not likely as relative strength and sales growth in construction and housing products after Hurricane Florence * Fibretracement to 0.612 and 0.5 is 8 and 13% gain, however construction stocks grow on calender until Jan-Feb. * Cup & handle formed once return to retrace 0.612 of $17.00 handle will be formed and NCS will jump to 18.75, 19.80 (+25%), 21.55 or 23 range nearing 52w high (23.35) based on typical resistance zones. * Hurricane Florence will inpact Q3-4 sales. August earnings were 0.07 suprise at 0.54 from 0.47 expectations. * No dividend and slight selling with insiders. Looking for 20% target here with handle form, and 25% entry now. HD LOW
NLong
by Pokethebear
2
BTC appears to be forming a higher low on the 4hr chart.The target breakdown ended up being lightly shy of hitting its mark this time before turning around although I had anticipated a potential pump fake back up to the 4hr 50ma so thee's still a chance that this could be that pump fake. I am much more hopeful that we will simply achieve a higher low from here because if so, odds are very good that we can maintain price action above the weekly charts descending triangle pattern. This is the 3rd time we have had price action above that pattern and if we can maintain above it for 6 more days it will be the first time we've closed a follow up confirmation weekly candle above it without falling back into the triangle which would be extremely bullish. Knowing how we fell back into the triangle at the last minute the 2 times before I'm not gonna get my hopes up on that until the close is complete but with the apex of that triangle pattern at hand odds are much better now that we have broken above it for a 3rd time that this time we will close above. For now we will have to wait and see an also still have a gameplan prepared should it once again dip back into the triangle. The new potential higher low on the 4hr however is a very encouraging sign.
BITFINEX:BTCUSD
by DrDovetail
2
Higher low? Or breakdown confirmation of rising wedge?We have to dip under 6.8k to forma lower low and hand control back to the bears. If not we will simply form a higher low. There's a chance we can bounce back up into the rising wedge but if this current 4hr candle closes here or lower there is a very high probability it will trigger the breakdown that can potentially send us back inside the weekly descending triangle pattern. Let's hope by the time it reaches the 1 day 200ma that we see a bounce it seems like once it gets there the 4hr rsi will be hitting the oversold zone so a bounce there is possible..however if the breakdown from the rising wedge is triggered it will only be a dead cat bounce at most. Hopeful that we bounce up from there and prevent going back into the triangle.
BITFINEX:BTCUSD
by DrDovetail
A break upward from here would solidify the higher low at $6250 Unless this becomes yet another fakeout the price action appears to be ready for a break to the upside which will confirm the higher low and at the point we will be looking to establish a higher high (above 6.9k) to continue the pattern and officially hand control back over to the bulls. if we were lucky enough to achieve a higher high on the next leg up then odds are very good at that point that we will be seeing btc finally break upward out of the 1 week descending triangle pattern we are in. Of course even after achieving another higher high on the 4hr chart that would still give the bears as many as fourteen days to send it crashing back down inside the triangle but probability much more highly favors a confirmed breakout. So far the recent ETF rejections haven't caused the price to dump too much but still something to anticipate the possibility of. I think most people see the big ETF to focus on as the Van Eck ETF which won't be decided on until somewhere around around September 23-30th.
BITFINEX:BTCUSDLong
by DrDovetail
big rejection @ 1day 50ma bck inside the 1week dscnding triangle Couldn't get above the 1 day 50 ma or the 4hr inverted head and shoulder neckline they were double reinforced resistance and we now find ourselves back inside the 1week descending triangle pattern. We are nearing the apex of this pattern so I anticipate a break out of it eventually and most likely a bullish break though we may see a bearish breakout fakeout just before. I would have exited my position just at the neckline of the inverted head an shoulder had I been near a computer when it pumped and would likely still be out right now sitting pretty but since I didn't and also wasn't aroudn for this breakdown I am still holding. I may have missed some accumulation opportunities but What I'm looking for at the moment is for this current dip to form a higher low on the 4hr as we just achieved a higher high. If we turn back around soon enough and form a higher low probability will continue to favor the upside.
BITFINEX:BTCUSD
by DrDovetail
2