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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
Moving aheadAt the moment, our pair is confidently advancing downwards to the annual minimums and is ready to update them. Despite the numerous statements made by the representatives of the Bank of England on the strengthening of the economy and raising the interest rate. The pair could not hold above the mark of 1.30 and headed down. Our technical indicators point for sale. Therefore, we advise you to look for points to enter short positions and expect the pair to set new annual lows.
Short
by SuperForex
Voice of reason? Common sense? Where are you? IDEA to ponder.BTC to tumble, but it's going to be okay. There are some very skilled and talented TA people out there...That being said, where is the money? Where's it going to come from? I think that's a very fair question. The laws of growth demand it. BTC cannot survive on day and swing traders only - recycling and swapping capital each and every day. Some make profit, some lose, but in all of this there's no big NEW MONEY. We need capital investment, which is smart money, which will only buy at brutally low prices. Until we hit a very enticing low sparking a significant influx of money, there's not going to be anything significant happening. To say BTC is going way up at this time is misguided because most market participants are now smart and experienced/burnt/skeptical enough to know that it would be quite suspicious without first a descension to the 365 day low which would be in the $2000s range. Even I don't accept that but we have to ask, then what will it take? That may be too low, perhaps Sep 2017 levels... The people are not "buying" it anymore. So, we may very well see 4k-3k before this beauty rises once again. That would be enticing for many. And just remember: Sept 16 2017 BTC @ $3700 and by Dec 16 2017 BTC @ $19,700 = 3 months. Just absorb that for a moment... Just a thought Not financial or psychological advice
COINBASE:BTCUSD
by Napoleon_Carnegie
lower low on the 4hr chart; officially broken down from wedge. I think it's very likely we can head to 5.9k here. The stochrsi on the 1day chart has plenty of room to drop still and the reason we are currently consolidating I believe is that the 4 hour rsi just hit oversold conditions. So it is likely we will fall back down and retest the bottom trendline of the pink symmetrical triangle. Even though we are currently at a lower low on the 4hr chart...dropping to 5.9k and then bouncing up would actually be a higher low on the 1 day chart. For now I am short. My one hope is that it doesn't cause the golden cross to undo itself. One still potentially bullish outcome to watch for in all of this however is that now we have fallen to a much more symmetrical shoulder height as the first shoulder of the inverted head and shoulder pattern, which means the ivnerted head an shoulder pattern for now is still valid...however it will be invalidated if we continue to fall and retest the bottom trendline of the pink symmetrical triangle pattern. Being prepared for either outcome is my plan...you make your own decision as this is not financial advice. Good luck and thanks for reading!
BITFINEX:BTCUSDShort
by DrDovetail
higher low/higher high triggered need 1 additional higher lowWe have achieved the followup higher high after the higher low I mentioned in the last idea. It seems like btc is content on maintaining its fractal of 2014's behavior for now. We still want one additional confirmation higher low to hand control over to the bulls but I bought back in at 5890 as soon as I saw that higher low...not typically what I would normally do I would usually wait for at least a higher high before I jumped back in but it was my confidence in the fact that things were continuing to play out like 2014's bear market did that gave me the confidence we would be going up first. Keep in mind just one follow up lower low can be enough to hand the reigns back over to the bears which is why its so important to get that additional higher low after the current higher high. for the bulls I look for a higher low/higher high and then 1 more follow up higher low for confirmation of a trendshift. For the bears since they have gravity working in their favor I usually only wait for just the first lower high/lower low and don't wait for the follow up lower low. Hopefully if this price action maintains its close fractal similarities with 2014 we can make it to 9.7k or so within the next month before we see any further significant downtrend...Anything is possible though so we will have to wait and see and be prepared for all possible outcomes. Even though I'm listing this as long I won't be surprised if we soon enter a small correction, I'm just thinking it is likely that correction will form an additional higher low and continue the uptrend...hence the long. As always this is not financial advice...make your own decisions and good luck with whatever you decide.
BITFINEX:BTCUSDLong
by DrDovetail
4
BTG ... wow, dead or dormant?BTG has been pummeled to (almost) death ... look at this folks. We are BELOW the listed price on bitfinex ... yes, making record lows, all time record lows. This coin is 19x off its all time high. That means 95% discount. Crazy. I know there are people that think BTG is a copy cat coin ... unnecessary fork of BTC, diluting market share, and causing confusion in the market with so many coins named almost the same thing. BTG was given for free to those who had BTC on the hardfork ... and it quickly pumped up with BTC (pulling it up), AFTER an initial correction (about 66% down) from people profit taking. There's an argument about this coin being unnecessary ... but, I have seen it making amazing bounces WHEN BTC is in a bull rally. I personally wouldn't consider this as a long term hold (due to fundamental reasons), but man, oh man ... do I have a feeling it will bounce nicely when BTC does return to bull. This is one of those things where I might gamble a little (and I hate to do that), but you know ... the kind where you throw a few dollars on a lottery ticket ($50?). Hmmmm.... needs further thought. Remember only a fool relies on one potential outcome. Do not use this information for investment/financial decisions. For educational purposes only.
B
by MAGICMARK
6
Bitshares VS Bitcoin Hitting The SupportToday Bitshares has reached 4/1 Gann Fan trendline, which at this stage has been rejected cleanly. Another major support is 161.8% Fibonacci retracement applied to the corrective wave up after breakout of the uptrend trendline. This is 2300 satoshis level, and previously price has rejected it. Perhaps the confirmation that BTS/BTC has found the bottom, would be the daily close above 2300 satoshis level. Then it is likely that the price will start moving up, potentially towards the upper trendline of the descending channel. But, if Bitshares daily close will be below the Gann Fan trendline, then the downtrend might continue and BTS/BTC could reach the 88.6% Fib support at 1700 satoshis area. Overall it is important to watch the low produced today, that is 2220 satoshis.
BLong
by CryptoPAMM
2