Mybitcoinacademy
BCDBTC
BCDBTC
Still in an overall bullish downtrend.
4hr consolidation zone, forming a squeeze in a bullish formation descending triangle.
BATBTC 4 out of 10 daily morning chartsBATBTC
Still in an overall bullish downtrend.
4hr consolidation zone, historically after LH forms these zones with a fast bullish movement off the bottom to be rejecter on another LH and fast bearish movement down to create a Lower low.
in the middle of zone ATM.
possible long from the bottom and short from the top.
both stop-loss are clear of previous market structure.
ATOMBTC 3 out of 10 daily morning chartsATOMBTC
still in an overall bearish downtrend. At the moment in a 4hour sideways consolidation period.
historically box consolidations have entry - 2 top touches and big bearish movement.
the missed ideal entry into short, Darvas box entry could play out and a stair down.
Low 4hr volume, MACD looks to flip bearish, histogram looking thin, BB narrowing, RSI midway with now divergence.
Bitcoin XBTUSD $7k breakout?!Bitcoin - 4hr - BitMex(XBTUSD)
BTC has been creating Higher-lows and respecting the short term uptrend, since Mach 16.
Resistance was found at $7k tested multiple times and was rejected until today, when price was squeezed and is starting to creep above $7k.
BTC has had a 4hr close above $7k which is the first step towards a breakout to the upside.
I will be looking for a long opportunity from a retest of 7k, to confirm that previous resistance is now support. (wicks to the downside - bullhammer or bullish engulfing from this level - morning star)
The target I am aiming for will be just below $7,700. $7,700 is previous structure/supply and close to 61.8% Fibonacci retracement level.
Stop loss placement for this trade will be clear after the retest of $7k happens.
Providing the retest of $7k holds and gives some clear structure for a stop loss placement the trade could provide a 2.5:1 Risk reward ratio.
If price retests $7k and it does not hold, I will not be entering this trade.
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ENJBTC 4H Long - SOS TA Fridays 28/03Change in market structure
61.8 fib held
Waiting for a break and retest of the current 4H resistance level for long opportunities to the daily resistance
I would look to take 25% of my position off at TP's 1 and 2, with the last 50% at final TP.
I'd expect this move to take from 2-5 days depending on how BTC is moving, but ENJ is known to pump quite quickly sometimes so may happen quicker.
Conversely, if price starts to go down, I would be looking for short opportunities once we break the 4H support level.
XTZBTC - SOS TA Fridays 28/3/20I will enter this trade if price breaks out of this descending triangle with strong bullish candles (bullish engulfing, bull hammer) or if it breaks out and has a small retrace for confirmation.
My first profit target is at 38.2%, then at 23.6% (resistance at both these levels).
This may take a day or 2 to present a good entry, then 5-6 days to hit my first target.
Weekly Bitcoin UpdateIts been an interesting week in the financial sector across the globe, a lot of fear and doubt in the global economy right now with the corona virus, banks, unemployment and trade wars.
A lot of people putting focus on that being the cause of some of the movements in the crypto market and although it may have a slight effect i don't see it as being the root cause, when in reality its no different the every other time bitcoin has done something similar.
Anyway onto the technicals....
The main focus is on the HTF trend analysis which still has a bearish bias over all with a series of swing high failures, and lower lows pushing further into the gutter channel.
The retracement from the last daily point points pits the 618 level around $7880 USD which also coincides with a major supply block between 7500 and 7900 so this is the major target Im looking at right now for the next big more.
I an see a fairly easy picking EW count using trend based fibs and its pretty close to sticking to the rules right now currently on the E retracement leg looking for one last rally up to the 1.61 extension completing the 5th wave.
We will be paying close attention to this point to load up on a larger short position with the intention of the current HTF trend continuing and making another Lower Low deep into the 3k barrier but the ideal point to re-asses the situation is around the $5400 mark right now.
If we can hold support in this level and see bullish activity or a momentum switch on the HTF i will consider the long approach.
Playing the short term long right now and looking to close as we get closer to the supply block and stagger out of the position, don't want to miss the out.
XLMBTC Longer term swing trade If price comes down to this level
i will be keeping an eye on volume and
wont be entering until there is
confirmation of buyers (Bullish engulfing,
Bull hammer, morning star pattern).
Placing a limit order in this zone
seems to risky until we get the
above confirmations. But could be a
good swing trade if it plays out.
ARKBTC BullishLooking for entries once we break out of this resistance zone and get another touch on the trend line to confirm it is valid
We have broken out of a downtrend and we are forming new market structure
Broke out of descending channel and tested as support
10MA held as support and 50MA just crossed above the 200
I would be looking to take profit at the 3 marked levels.
I would look to exit this early if we failed to make higher highs or broke the trendline
Time: 1-3 weeks