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Bitcoin Update 10-10-19 Good morning Altsignals Members, welcome to our technical analisys section again. Lets talk about #Bitcoin on the 4H Timeframe. Yesterday we experience a clear breakout of the parallel resitance on the 4H chart wich ride us to the previus support zone, turned now to resistance, between $8547 - $8805, so, we need to start closing candles above the $8547 level to continue moving up to $8805 and then take the next important resistance level around $9813. At the moment the sellers are pushing down into the drawed parallel channel wich could work as Bull Flag to continue the bullish escenario. $8103 is the most important support level to wacht, also if we break the parallel price range displayed on the chart we will go to this support level, so, could be used as a confirmation for a scalp short position, or long if we break upside. CFTC chair says ETH is a commodity and anticipates derivatives to trade in the U.S. soon - Fundamentals on ETH are strong right now, a bullish #2 coin can impulse bitcoin creating FOMO in the crypto market on BitMex. Other good sign to have in mind is a couple of big transaction wich were getting moved since yesterday on USDT up to 10M - This could means Instutional investors preparing funds to buy
BITMEX:BTCUSD.P
by OctopusXBT
07.10.2019 - BTCUSD Technical analysis (October Update)Hello everyone, This is October BTCUSD update. Since the beginning of October, the marked has been declining and resulting in significant battles for $8,200-8,000 range. The market sentiment has shifted more towards bears and we can see by the red daily volumes outnumbering green ones. It would be more practical to define a new short-term level of support of $7,800 due to the fact $8k support has been breached multiple times. For the past couple of days the market has experienced a slight pressure from bears pushing stoch RSI on 6H, 4H and 2H to bottom lows. Therefore, bulls reminded about their existence today with a nearly perfect set-up for breaking up the trend path upwards to $8,313.70. This move allowed building another descending triangle across three top price points: $8,800.56, $8474.13 and $8,313.70 and a support of $7,778.72. Despite today’s bulls, the sentiment is still quite bearish as bulls kept their short-term rally within the set-up. Considering recent pressure by bears, that rally was necessary. I would assume the market to descend throughout this week slowly towards $8k level and $7,778. I also suggest the descent should take another 5 days or a week. Personally, I will start building short positions now, whilst the price is relatively high. I would like to mention that this is not a financial advise but rather an observation of the market. Trade carefully and at own risk. All the best! Trade safe!
BITSTAMP:BTCUSDShort
by APLTD
2
01.10.2019 - BTCUSD Technical analysisHello everyone, Welcome to October! For the past week we had quite a movement in BTCUSD price. As I have mentioned in my previous analysis, failure to remain in $10k led us to support zone at $9,450 - $9,000 and failure to keep that range resulted in breaking the descending triangle, therefore providing some bearish market sentiment. As we sliced through the $9k support, we ended up at $8,700 for some time and then dipped even further toward $8k throughout the time breaking down the support to $7,700. Interesting observation, at the end each month and the beginning of the following month, the BTCUSD price tends to increase after a sellout. Such behavior has been happening since July 19. Even though current recovery is not the major one we still had two green daily candles. Moving on to the indicators. Daily stoch RSI is demonstrating some recovery (which kind of supports the beginning of the month recovery observation), but buying volumes are still not as impressive as a sellout volumes, therefore there is simply not enough petrol to push the price further up at aggressive pace. 2H, 4H and 6H stoch RSI are in overbought areas, so we could expect some selling volumes appearing in the short term. VPVR indicates major interest at $8k, which is acting as a support right now. The 50 days Moving Average took direction to the south and is aiming to cross the 200 days Moving Average, which could result in Death cross, but till then there is still time to change direction. Zooming out. Quite a lot a CT analysts and traders were looking at $7,420 level, which acted as resistance since September 18 until May 19. To be honest, why wouldn’t they look at that level. When the price was dropping, I was expecting it to dip to that level and bounce, but psychology of round numbers was stronger, so current support is $8k. Beyond $7,420 we have the area of support ranging between $6,440 and $6k, which is a historical level from 2018. In addition, VPVR indicates strong historical level of trading interest at $6440. Failure to keep $7,420 should lead the price directly to $6,440 because there are no any significant levels in between. To sum up, I personally do not expect the significant leg up in the nearest future and expecting a further price decline to the abovementioned levels providing more good opportunities to buy low. As for the nearest future it is quite important to see how daily will close. As I have mentioned there is not enough buying volumes and I could see the market hesitation at the time of writing this analysis as we are getting daily spinning top candle. I would like to mention that this is not a financial advise but rather an observation of the market. Trade carefully and at own risk. All the best! Trade safe!
BITSTAMP:BTCUSDShort
by APLTD
XRP Make it or break it time incoming!XRP army! Hide your kids, hide your wives! XRP possible bull run comin' at ya! Be patient though, but my crypto senses are firing up! Had to look at it for for quite sometime to believe it myself, but look at this beautiful falling wedge in the making! Levels to look out for: $0.13 and $0.26! Last line of support to reject and bounce back to. If XRP bounce of the support rejecting the bears with a vengeance and heads towards $0.26 resistance and breakout through the upside, then omg! XRP might possibly be going to $1.00 region!?!?!!!!(See dotted extrapolation). Regardless that descending triangles are most probable to breakout to the upside, past indications doesn't have to be future results, XRP breaksout at $0.13, then you might wanna consider to cashout. But once the lower low is confirmed there is still hope for the XRP project. Hold your tits XRP army! Short-term: Bearish Long-term: Very bullish Also suggest to look at my BTC/USD TA, since the breakouts are quite similar to the possible breakout dates. Good luck & be careful short-term traders, people are probably still waiting for an opportunity to cash out from the last breakout profits.
BITSTAMP:XRPUSDLong
by bonic
1
BTC bounce and Touch 10460 before breaking downFor my personal purposes only. As a control of my view. I would be prepared for a short touch, probably wick on level 10400 - 10460 which is a Fib level too and a point where the triangle upper LINE meets. Will see how the price reaction will act on the place. We are looking for bullish candle and clear close throught. Anyway i believe the whole triangle pattern will played out downside. Break throught 9500, test 8000 and quickly comes up after eating all sell orders in liquiditi pools. Do you also like RSI? Which way do you usually use it? Do you use FIbbonachi for confirming S/R levels? Not a finacial advice. Thank you for any feedback and comments. MATT
BITMEX:BTCUSD.PLong
by Matyas44
ETH/BTC Tend Reversal Macro Trade #AltSeason ??!? This is linked to my original idea but did not act. So this is my plan of action. I am still currently in a short trade, Spot long. What changed my bias was the daily close above the 21 EMA, bounce off the top ranged of my long term support from my previous Idea(around 0.016 ish) My main concern is no volume but I feel like everyone thinks alt season is dead which I find (through personal experience) makes people lose interest in even looking at charts until there is a big move with volume. For me I do not want to miss this move so I am now officially prepared and happy to take multiple shots at this trade to get the right Risk/Reward for the next bull run in Eth.
ELong
by merchtank19
BTC LONG - different point of view using only RSIHello everyone. I believe this is a bit different point of view on our mystery Bitcoin situation. I have been playing with RSI. Trendlines, 50 level, divergences etc... combined all together and found some interesting results. As per chart, there is always a wave up after price being under 50 RSI while actually touching 50 RSI... There are two important horizontal levels of RSI & Price ( Red full and Red with space ) Green circles means that price react at correct RSI 50 level. On the other hand, there are levels on RSI 50 where price action react lower, on the partly red horizontal line.. By the logic, it means that people are buying for lower price than they should, so we can expect PRICE grow higher. After move up there is always retracement, which happened with RSI crossing blue RSI trendline from above. Also , there are two Bullish divergences. This Pattern played out two times since our HIGH in July…There is a probability of repeating itself. As a target, I have used Resistance trendline, conecting our last tow TOPs Sorry for my language and way of explaining… The chart is a mess :D Iam beginner learning the terminology. Not a financial advise. Its for my own educational purposes only. I would really appreciate any feedback. Wish we can go together to the Moon and than to the Mars! :D Greetings from Bali - Indonesia Matt
BITMEX:BTCUSD.PLong
by Matyas44
2
LINKBTC Blue Sky Breakout Retracement Hello Traders, Today's Technical Analysis will be on LINKBTC with its decent retracement from its blue sky breakout. Points to consider - Held support at the .618 Fibonacci level (Fib levels are only considering body candles not wicks in this TA) - Three touches confirming trend line - Structure has been putting in lower highs and higher highs - Potential falling wedge pattern - Extremely low volume thus breakout is highly probable - Potential Higher Low in place if trend continues bullish - EMA's neutral not showing much significance right now - RSI currently neutral - Stoch's however showing more potential of downwards momentum Link could retrace right back to the .618 Fib before making another move up, however if the trend line is broken, then whole market structure will be overturned. This will make the structure more bearish, signifying that the correction is not over and further downside is probable... What are your thoughts? And remember, “Holding losses and hoping to break even is not an investing or trading plan. That is dumb money on suicide watch!” ― Fred McAllen,
by AzizKhanZamani