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Bull might push BTC higher!Since Bitcoin reached an all-time high, back in December 2017, the volume has been steadily decreasing along with the price. During the past 9 months Bitcoin has dropped from USD 20,000, down to USD 6,000, losing 70% to the USD. During the past 8 months, BTC/USD has approached 6k support level multiple times, although every attempt to break below has failed so far. On June 18, price went below 6k, where it reached $5,755 and rejected the 78.6% Fibonacci retracement level, along with the long term uptrend trendline. But, the closing price remained above the 6k psychological support suggesting the validity of the long term uptrend. While Bitcoin consolidation phase continues, it is important to watch key psychological support and resistance level. Support: USD 6,000 Resistance: USD 10,000 Bitcoin is trading under the very low volume and low volatility, while price is trapped between 6k and 10k. In order for the price to establish a medium-term trend, price has to break and close above the resistance or below the support, accompanied with the heavy trading volume. Weekly break and close below 6k could push price down to USD 5k, or even USD 3k area. But break and close above the 10k level could result in a very positive price action for Bitcoin, potentially sending it up towards USD 18-20k resistance, or even to the new all-time high. To summarize, RSI oscillator broke above the downtrend trendline, 78.6% Fibonacci support and long-term uptrend trendline were rejected. Such price action does not imply further downside correction, but rather uptrend continuation, at least while the 6k support is holding.
BITFINEX:BTCUSD
by CryptalDash
6
Approaching the edgeAt the moment, the price has reached an important psychological mark at the level of 6.000. It is the minimum value in the current year. Technical indicators currently point in different directions and we expect a clear signal from the market. Investors also held their breath and expect to overcome this level. Then the price may move to the marks of 5.600 and 5.200 which were reached before.. We believe that the price will go down, but in the alternative scenario we are considering a return to the mark of 6.400
BITFINEX:BTCUSD
by SuperForex
My Favorite Pair Is Playing Tricks On Me...I really love trading Gold but looking at a higher time frame (as i always do), we can clearer see that price is ranging between a strong bullish trend line and a weaker bearish trend line. As the first mentioned trend line was hit, i was very bullish but now seeing price ranging under last support and therefore resistance, im not that much sure were Gold is heading. But as we can see our last Take Profit from my Weekly Market Overview was hit. What do you think ? Please comment on which side you are from now.
FX:XAUUSD
by darian_fx
2
DXY: A Tearway Move - in Context DXY Dollar Index The dollar has been been on a tearaway move ever since breaking its longer term downtrend at the 90.42 level. By 'tearaway' in DXY terms that means 2%. Huge ! Over 11 calendar days or so. The same as Bitcoin moves in 45 minutes. This is as exciting as DXY gets. And people seriously trade this for a living. Some have to but in a world of choice you can do the math - and choose. It takes all sorts to make a world ! Since breaking above and then retesting the top of the range structure at 90.93 DXY has surged up the right side of the chart as fast as fell down the same space on the left side of the chart. It's now testing the next line of resistance at the 91.92 level after an intra-day high 3 points higher. It should consolidate a little here before breaking higher still to test the 92.55-92.64 range. Over the more medium term DXY should hit 94.03. Until it does the dollar is likely to remain a buy dips market.
TVC:DXYLong
by sumastardon
BTCUSD - BOTH LONG AND SHORT OPPORTUNITYBITSTAMP:BTCUSD Hello Traders, I have an price action analysis for both bitcoin buyers and sellers so stay tuned. For Buyers: Idea no.1 : Look to go long on pullback to support zone of 9005 - 9023. StopLoss : below Support zone. Take Profit : 12500 Idea no.2 : Look for Breakout of 12589 -13059 and Go Long. StopLoss : Below 12000 Take Profit : 16000 For Sellers: Idea no.1: Go short on move to Resistance zone of 12589 - 13059. Stoploss : Above Resistance zone Take Profit : 10000 Idea no .2 : Go Short Once Candle Close below 9000. Stoploss : 9500 Takeprofit : 7000 Kind Regards, Yalmaz Dogar
BITSTAMP:BTCUSD
by SimplePA
Gold: XAUUSD Gold/Dollar play Update: Careful Here !GOLD: XAUUSD Gold/Dollar Play (continued) Neutral Here ahead of DXY break down Gold longs on back of DXY weakness need to be careful here. Still believe that the inverted flag formation on DXY chart (right) is a continuation pattern prior to DXY dropping down and out of the lower parallel down to 92.62. That will propel gold as high as 1297 at least and more likely back to 1305 as this move develops. But we cannot turn aggresssively bullish of Gold until that lower parallel is busted on the downside. Each test of the lower parallel on DXY tells us to close down Gold longs again...and wait for that break down on DXY.
TVC:DXY
by sumastardon