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BITCOIN IN PERSEPECTIVE+++++++zoom out to get the whole picture++++++++++ Hello and welcome to a quick idea which I was thinking about. -This logarithmic Bitstamp BTC chart provides information about a long term trend. -We are observing a weekly timeframe. -4 BTC-halvening´s are displayed by the vertcal lines. -100Moving Average and 200MA are important indicators. -Important key levels are represented by the dotted lines. -One brown line implies a downtrend chanel with two local top´s at 20K as well as 14K. -RSI which currently demonstrates overall weakness in the market. In this chart I would like to demonstrate how vulnerable BTC can be and how lower lows are still possible- even below 1K. We have bounced of the 3100$ Level on December 10th 2018, after which the bullmarket of 2019 began (3-14K in 6 month). I extended the blue line 200MA which could a possible bounceing point during this retracement. BTC already broke the 100MA (red line) on November 12th 2018 to the lower side. Volume is decreasing, which could be a sign of a cooldown, finding a bottom soon... The top of 14.000$ was touched once- we did not confirm higher highs- which lead us to think about a continuation of the current retracement/downtrend. A possible bounce could happen on the 200MA, which I drew as an extension when Bitcoin hits 5000-6000K it in early 2020. We could see another spike up at that point, which could respect the brown diagonal and create a third top by June 2020 (20K, 14K, 10K). What do you guys think about this idea? Let me know! This is it already for today, your quality-trader
BITSTAMP:BTCUSDShort
by GER-Quality-Trades
3
Bitcoin Fractal Points to $8500 Purely by accident I noticed the similarities when looking at the possibility of going to $8500. It seems our last week in hourly candles has played out nearly identical to the Nov 2018 - Present Day timeline in daily candles. The descending triangle on our daily broke down to roughly 50% of its target. If the hourly descending triangle does the same that will put us near the $8500 level which also lines up nicely with the 61.8 fib of the move.
COINBASE:BTCUSDShort
by coinzada
1
BTC SHOCK, FEAR THEN DESPAIR!!! Could We See A Drop to $6,900? While everybody seems to be bullish about BTC making new ATH, I think there is a bitter pill to swallow - BTC historically squeezes down to test major supports between new bull cycles. It might get volatile these next few hours/days. Whether BTC does make a jump higher it won't be long lived. RSI may need to get to oversold before a the next Bull cycle is completely confirmed. I suspect a 15% drop followed by an ALT SEASON hype before Christmas time attracts retail buyers. Remember it's all speculation. Safe Trading everyone!
Short
by Benjiman7953