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Luckyhelper

New major trend is a sideways movementOn February 12, BTCUSD crossed the brown dashed trendline and it seems that the major downtrend ended. However, the new trend is not an uptrend, but a sideways movement. The price of Bitcoin is fluctuating around Pivot Point. An outbreak of this sideways movement can establish either a new uptrend or a continuation of the downtrend above the brown dashed trendline. Pivot Point is 8592. Below Pivot Point, there is a bearish scenario, above a bullish one. Fluctuating around Pivot Point means an undecided scenario and a sideways movement.
BITFINEX:BTCUSD
by luckyhelper
5
Another day of uncertainty. The battle between bulls and bears on this crucial level is still going on. Stocks are losing value, currencies are dropping, cryptocurrencies are falling and even at the outside of my home, the temperatures are sinking. It is very cold this morning: -8°C! Brrrrr. At least, Bitcoin crossed that important brown dashed bearish trendline yesterday and it fluctuates above that important trendline today. Does it mean Bitcoin is bullish now? Since February 11, 2018, BTCUSD is in an uptrend with higher highs and higher lows. This seems to confirm a bullish scenario. Let us have a look at the Pivot Point system. Pivot Point is at 8657. The price of Bitcoin is undecided and fluctuating around Pivot Point. I expect the blue dotted trendline to provide enough support for driving BCTUSD up to the resistance R1 level at 9245. There will be a test of this R1 level. It is very likely that the price of Bitcoin will bounce on this level and resume its journey towards South. There is just not enough momentum for breaking this strong resistance R1 level.
BITFINEX:BTCUSD
by luckyhelper
3
Bitcoin is on an important crossroad.Good Morning! A new day, a new Pivot Point system. BTCUSD is on a crucial crossroad (B???). Today, the decision is up about the end of the major downtrend. Pivot Point is 8163. Below the Pivot point , there is a bearish scenario, above a bullish one. Fluctuating around Pivot point means an undecided scenario and a sideways movement. If the price of Bitcoin has enough upwards momentum, it might cross the brown dashed trendline (B???). If it can break that trendline sustainably, the major downtrend ends. WARNING: Crossing that trendline could be a bull trap. Wait with investing into Bitcoin until you are sure about the sustainability of the new trend. A new trend can be either a new uptrend or a sideways trend. Pro Bullish Facts: - For the first time since December 17, 2017, a down move did not reach its target (A). This down move just had not enough momentum. - The current price of Bitcoin is above the Pivot Point. This is a bullish scenario. Pro Bearish Facts: - The resistance R1 and the brown dashed trendline are close together. It will not be easy to cross this double resistance. - The major downtrend did not yet reach its target. The target is 2403. I expect a heavy battle between bulls and bears at this extremely important level. If BTCUSD remains below the brown dashed trendline, the major downtrend will take over again and the next targets will be 7040 and 5511.
BITFINEX:BTCUSD
by luckyhelper
1
Is there a major trend reversal ahead?Pivot point is at 8384. Below the Pivot point , there is a bearish scenario, above a bullish one. Fluctuating around Pivot point means an undecided scenario and a sideways movement. First, we will have a look at the calculated target of the major downtrend, which started on December 17, 2017. For this reason, we will look back to my idea from February 5. There, I calculated the target 2304 for the current major downtrend. This target will be reached in three steps with intermediate targets at 5511 and 3230. We should keep this in mind while reading the rest of today’s idea. Bitcoin hit the USD 9000 target! For the first time since December 17, 2017, an upmove reached its target. There is obviously a lot of power in this still ongoing upward movement. Will BTCUSD be able to break the brown dashed trendline and end the major downtrend? In the comment below, we will have a closer look to this crucial area inside the blue circle.
BITFINEX:BTCUSD
by luckyhelper
8
Another undecided situation.Pivot point is at 8459. Below this point, there is a bearish scenario, above a bullish one. In the green circle, there is a strong trend reversal pattern. However, it only caused a small upmove. This means that the bear trend is still effective. At 7567 and 7540, there are strong support levels. A break of these levels would open the way down to 5511. Should BTCUSD move significantly above the Pivot point, another test of the lower side of the violet triangle would be possible.
COINBASE:BTCUSD
by luckyhelper
1
USDJPY on a crossroad; weekly chart.the This is a weekly chart back to 1995. As we can see, since 2012, the swings are getting smaller and smaller. This year, USDJPY is on a crossroad. Will USDJPY go up or down? It is very likely that it continues sideways after breaking the lower trend line of the triangle, as it fluctuates around the 112.55 level. When trading this currency pair, we have to be prepared for the unforeseen as this situation can hide away some surprises. It is possible that USDJPY will start into a new area with a completly diffrent behaviour.
by luckyhelper
The bear trend still dominates the scenario.Pivot point is at 4872. Above the Pivot point, there is a bullish scenario, below a bearish one. Fluctuating prices around the Pivot point mean a tempory sideway trend. In the 30 minutes chart of BTCUSD, we see a huge trend reversal pattern in the candlestick chart (green circle). In normal times, this would drive the market price up and up. However, there are not normal times in these days. We have just seen a consolidation and it is already over. It was just one more bull trap. The ongoing bear trend still dominates the scenario. Once the support level at 7540 is broken, BTCUSD might temporarily find some ground at 5511. However, the target is 3230.
COINBASE:BTCUSDShort
by luckyhelper
2
Currently, fundamentals are more important than TAPivot point: 11178. Above Pivot point, the scenario is bullish, below it is bearish. Pivot point and its support and resistance levels are strong barriers that cannot be easily overcome by the market price. Since January 17, 2018, the market price of Bitcoin is tending around Pivot Point and its swings are getting smaller and smaller. BTCUSD is heading straight to the apex of the green triangle. There is a good chance that this sideways movement will continue for a while. Currently, there is an equilibrium between Bulls and Bears. The bears still see BTCUSD lower, while the Bulls are waiting for the ascending prices in February, similar to the years before. However, is that price increase in February a general law of nature? The fundamentals speak loud and clear for a further drop of BTCUSD. Payment transaction times of up to 8 hours and high transaction fees made it obvious that Bitcoin can no longer serve as a payment coin. Micro payments are no longer attractive and transaction times of up to 8 hours make it impossible to use Bitcoin on the checkout of a supermarket. People start recognizing that Bitcoin cannot hold its promises. Therefore, users started to turn their back on Bitcoin and are watching out for alternative coins with a better performance. Yes, performance is everything when it comes to cryptocurrencies. This time, I do not expect that Bitcoin will recover from the low price. On February 1, 2018, there is the launch of Futurocoin. FTO is a specialized payment coin with cheap transaction fees. FTO can execute a payment transaction within 4 seconds. Additionally, a community of more than half a million people are at the ready for acquiring acceptance places like retail shops, retail chains, apparel, electronic shops, travel and holiday companies, car dealers, etc. We can expect that FTO will develop fast and I see it as a top five coin within two years.
COINBASE:BTCUSD
by luckyhelper
4
Slow upmove with narrow swings. Pivot point: 11489 As long as the Pivot point is a support, the overall scenario is bullish. If the Pivot point becomes a resistance, the scenario changes to bearish. Close around the Pivot point, there is an undecided scenario with a sideward trend. Resistaces R1 and R2 and supports S1 and S2 are close together. Therefore, we expect a slow upmove with narrow swings. This is not a good scenario for trading. Spreads will most likely be bigger than the swings.
COINBASE:BTCUSD
by luckyhelper
3
Up or down? What the three triangles say about BTCUSDIn the chart of BTCUSD, we can see three overlaid triangles of different time ranges. This overall picture matches perfect with the otherwise undecided situation. A triangle is a trend continuation pattern and often easily to interpret. An outbreak of a triangle is usually a perfect starting point for a trade. However, right now, it is not even easy to decide, which trend a triangle stands for and how to weight the significance of the three triangles. The three triangles. The big violet triangle is not yet fully completed and it will develop approximately until mid-February. I expect an outbreak at the downside. First BTCUSD will move up to the upper borderline and then move down to the lower borderline where the outbreak will probably occur.
COINBASE:BTCUSD
by luckyhelper
Up or down? Maybe, the third way.On January 17, 2018, BTCUSD entered todays Pivot Point System with the Pivot point at 10942. Bulls and Bears are in an equilibrium and the situation is undecided. The swings around the Pivot point are getting shorter and shorter. Because of the short swings and the wide spreads, it is no more profitable to trade the short swings. If things develop like in the previous years, we will see an upwards movement in February. However, the way down to 9005 and 5568 is still open. Up or down? Never forget that there is a third way: the actual sideward movement continues with short swings only. Maybe that too many Bitcoin traders and investors turn their back on Bitcoin and turn towards other, more sophisticated coins. By the way, on January 31, 2018, there is the launch of the Futurocoin . It is traded on the BitBay exchange. It is a payment coin and a payment transaction lasts only 4 seconds. Never before waited such a huge community for a new coin like the community of the Futurocoin.
COINBASE:BTCUSD
by luckyhelper