BTC/USD Weekly Reversal CandleHello Friends,
Here is a weekly chart update on where BTC is sitting currently.
Looking at the chart we can see that we have a reversal hammer candle along with a decrease in volume within oversold conditions on the RSI. The weekly chart looks scary when it comes to looking at the TDS and the B.W. Fractal . I believe there is going to be a dramatic drop soon. We can expect to see BTC retrace to the fibonacci levels as indicated on this chart. After we see BTC retrace to the expected levels we can anticipate a continuation upward from the buy zone.
During the BTC retracement, we can expect to see investors looking to gain further profits by investing into ALT coins. The timing is right for ALT coins as it is with a retracement for BTC. Looking at most of the ALTcoin charts from a weekly perspective, we can see that the RSI has bottomed out and beginning to show signs of a reversal upward.
Now is a good time to look at ALT coins.
Details on the Chart.
This is my viewpoint and my opinion. I am not giving advice but only sharing what I see. Do not enter a trade on my TA but do your own homework.
Cryptocurrency is volatile and very risky. Never invest what you can't afford to lose and always educate yourself and continue to do so when making any kind of investment.
If you find this information helpful, then please hit the like button. Your support is appreciated. Thank you!
CYA on the next one...until then, the trend is your friend. Buying on the dip and selling on the hype.
Cheers!
Tdsequential
Bitcoin Price Action Update (day 347)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Sawcruhteez Strategies: Comprehensive Trading Strategy - Consensio | Comprehensive Trading Process | How to BUY THE DIP | Advanced Dollar Cost Averaging Methods
Consensio: Fully bullish
Patterns: 4h ascending triangle
Horizontals: R: $8,171 and $8,300 | S: $7,968 and $7887
Trendline: Bottom of ascending triangle
Parabolic SAR: D: $6,258 (recently broke up SAR)
Futures Curve: Contango
Funding Rates: Longs pay shorts 0.04%
BTCUSDSHORTS: Appears to be bouncing from support
TD’ Sequential: W G7
Ichimoku Cloud: Inside weekly cloud with bullish kumo twist
Relative Strength Index: Lower highs and lower lows on the daily
Average Directional Index: Has rolled over and continues to pull back. If we are going to get another rally then I would expect this to roll back up above 25.
Price Action: 24h: +0.24% | 2w: +15.2% | 1m: +57.18%
Summary: Markets have be consolidating for about two weeks. This is when many market participants will get lulled to sleep. During times like this it is very important to remain alert and start preparing for / building the next position.
CME Futures expire on March 29th and the markets have had a strong propensity to make a big move shortly after / before the futures expire. This is a 6 month contract and I would expect significant volume to occur over the next few days as position traders cover their positions and / or open new ones.
This is a timing indicator that I have found very useful and credit goes to CarpeNoctom. If you do not subscribe to his Youtube channel then i would highly recommend it. He covers these contracts on a regular basis and has a great chart that shows how markets tend to react follow expirations.
There are a number of indicators that are currently cooling off from overbought conditions, specifically the ADX and the RSI. The weekly TD Sequential is also only two weeks away from it’s second green 9 in a row.
Neverthelss I remain bullish short term and am expecting another leg up. Price has been consolidating inside an ascending triangle over the last two weeks. We have put in two higher lows while volume decreases from the high.
Ascending triangles are one of my favorite patterns and they will often occur below major horizontal resistance. This tells me that we are eating away at resistance and putting in higher lows. Each time we put in a higher low support is moving up and resistance is not necessarily moving down in response.
On the third test of the horizontal boundary I expect resistance to break. I have starting building a long and have an stop market order to add at $8,451 - which is a little bit above where the ascending triangle confirms.
The measured move from the bullish continuation pattern is $9,659 which is closely in line with my next major area of horizontal resistance. If it does reverse then it could be sharp. The funding rates indicate a potential long squeeze. I am setting my stop at $7,444 which is slightly below the recent swing low.
BUY BITCOIN: +25% PROFIT BEFORE RETRACE TO 5900!Buy: Now
Take Profit: 9800
Everyone, I've identified a pattern which I strongly believe takes us to 9800 and then to 5850.
I created a Pitchfork on BLX based on 3 rare and unique MA 7/30/50 Golden/Dead Crosses.
According to this simple analysis, we are so close to the pitchfork median line, with MA 7>30>50, that we should be targeting the median line before specifically targeting MA 50.
I think this is really solid.
Based on my observations of Bitcoin since January 31st I believe that Operator and public psychology set us up exactly for this scenario.
- We have a bullish public.
- We're $2,000 away from $10,000 FOMO buying
- We're 1W away from Fidelity "announcing" that they're going live for their "select" clients.
My hypothesis: "Good news" brings in 10K FOMO buyers. Operators unload their holdings onto them. We retrace to MA 50 @ 6000 level. We continue the uptrend into November as per DeMark monthly.
BTCUSD - Old Channel Top, no way that breaks!For the moment --- NO ALTS, JUST BTC. Sell between 6500$ and 7700$.
There is heave resistance from the old channe drawn in purple. People could soon come back to earth. There is going to be a massive shake off.
I expect it between the 20 and 28th of May based on TD Setup and Countdown in different Timeframes.
Actually if the 3D chart keeps up the great work, on the 25th of May!
D TD: 13 completion somewhen around the 20th of May.
3D TD: 9 13 Completion on the 25th of May and ends on the 28th of May.
4D TD: 13 on the 21th of May. 9 on the 25th of May.
5D TD: Hopefully not in another Countdown/Setup phase by than, because it gave us great signals so far.
13D TD: 9 13 Completion starts on the 24th of March and ends on the 6th of June
Also the Weekly 100 SMA at 6513$, where we could possibly wick through but not close above.
Bitcoin Price Action Update (day 344)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge
Consensio: Daily is fully bullish. Weekly is getting close to golden cross / turning bullish
Patterns: Phase 7 Hyperwave | Bull Channel
Horizontals: R: $5,967 & $5,825 | S: $5,675 $ $5,500
Trendline: Currently testing to top of the bull channel
Parabolic SAR: D = $5,190 | Just broke 4h
Futures Curve: Backwardation. Watching for spread to increase if price continues to fall
Funding Rates: Longs receive 0.0151%
BTCUSDSHORTS: Middle of range, looks healthy
TD’ Sequential: Daily R9 after C13
Ichimoku Cloud: Daily Kijun-Sen = $5,462 | Cloud in $5,000 neighborhood. Weekly just had bullish TK cross but thick cloud is waiting overhead
Relative Strength Index: Weekly is healthy. Daily has triple bear div
Average Directional Index: Continues to pullback as price climbs. If support > 25 then that is quite bullish. If -DI cross above +DI then that is quite bearish.
Price Action: 24h: -0.88% | 2w: +13.48% | 1m: +10.06%
Bollinger Bands: MA = $5,419
Stochastic Oscillator: Daily sell signal
Summary: Before getting into the analysis I want to talk about what to expect moving forward. Originally this was the Bitcoin Daily Update and I consistently made a post each day for almost a year. Now I do not believe that is the best way to do it. Sometimes there is simply nothing to talk about and / or it is time to wait on the sidelines for further confirmation.
During those times I do not think it is beneficial for me, or the viewers, to make an update. This causes me to look for things that aren’t there in order to provide the necessary content. This negatively affects my analysis and also leads to frustration / impatience.
Moving forward I plan to only make posts when there is highly important information to discuss and / or a trade on the table. Since I focus on the higher time frames this will likely be less than half a dozen posts per month. Instead of quantity I will be focusing on quality. For shorter and more frequent posts follow me on Twitter : )
Now that is out of the way let’s discuss the price action!
Price has been in a bull channel over the past month and has consistently moved up after breaking through $4,200. Over the last 48 hours it threatened to break through the top of the channel. When breaking above a bull channel, or below a bear channel, the following move is expected to be violent primarily as a result of cascading liquidations.
Instead it looks like we had a bull trap. The price spend some time above the top of the channel and looked like it was going to blow through $6,000 there for a minute. However the daily closed back below the trendline and formed a nasty shooting star in the process. That also occurred on a daily red 9.
What is very interesting is how the wick perfectly touched the low from Feb 6, 2018 which was the spike low that followed the selloff from all time highs. That retested prior support for resistance and that suggests to me the market is ready to reverse.
Technical Analysis is showing signs of a reversal and the Fundamentals are painting the same picture. At 8:00 EDT Binance announced that they had been hacked for 7,000 BTC or approximately $40,000,000.
The price dumped more than 4% in the following thirty minutes. We found support at $5,640 and have rallied back to $5,800 since then. I think this is a great opportunity to build a short position. I am shorting from $5,746.5 - $5,811. About 70% of my position has been filled and my last order waits at $5,811. Profit targets are $4,800 and $4,100 which provides a 1:7.66 risk:reward ratio.
BUY BITCOIN - DON'T BE A SUCKER!Bitcoin
Price is going up.
Who is selling constantly?
Who is buying constantly?
Who are the losers? Who are the winners?
- The market should reverse!
- I'll buy on the dip!
- I'm going to short Bitcoin!
- Oh no Tether!
- The Attorney General!
- Bitfinex and Binance!
- Get your money off of the exchanges!
- Mt.Gox exit scam!
FUD. Fear. Uncertainty. Doubt.
What emotions are you experiencing? Here's a Pro Tip: When the market is Euphoric, when you start feeling high, sell. Do you feel euphoric? Are you high on life? Are you getting so mad rich that your ego is inflated and you're planning on buying that Lambo? No? Well how do you feel?
Fearful?
Uncertain?
Doubtful?
Maybe you should take profits?
Maybe you should short?
Maybe you should set a stop-loss?
Maybe you should tighten your stop?
Maybe?
Maybe?
?
Buy, obviously.
"Surely it's topped."
"It's going to pull back dumbass."
Why is the market going up but there are constantly bearish candlestick reversal signals?
Is right now any different than it was before?
The answer is NO. The answer is fucking No.
But Tether and 6K resistance and Finding Nemo!
Shut the fuck up and stop selling.
Does this look God Damn Bearish to you?
LOOK AGAIN.
DOES
THIS
LOOK
GOD
DAMN
BEARISH
TO
YOU
?
Buy Bitcoin and stop being a sucker. The whales have been playing you through this whole bull market and you're about to wish you'd been accumulating Bitcoin this whole time.
XBTUSD SELLFrom what I've gathered of TD Sequential, if the highs of bars 6 and 7 are exceeded by the highs of bars 8 or 9 then this is a sell signal. Is this what I'm looking at on the 4HR XBTUSD? MavilimW hasn't turned red, the A2MK's Green line hasn't crossed the Orange, but we've hit the 0.786 Fib with precision at $5800.00. Something is telling me a correction down to around $5425.00 is very likely, with possibly more downside to come, but feel free to leave comments on how you use TD sequential and if this is the right way of looking at things, I always want to learn more. I've noticed a lot more in the way of mainstream media covering BTC and how amazingly it's performing, Google are sending me alerts and even Nike released a presser on their new CryptoKicks. It's too soon for the return of the bull run for me though, mainstream media always makes me read between the lines, especially when they are pushing crypto.
BITCOIN - BUY NOWZoomed Out
Pitchfork Point A - 01 July 2015
- MA 50/100 Golden Cross
- Morning Star
Pitchfork Point B - 15 February 2018
- MA 50/100 Dead Cross
- MA 50/200 Dead Cross
- Evening Star
Pitchfork Point C - 13 March 2019
- MA 50/100 Golden Cross
- MA 50/200 Golden Cross
- Doji
Profit Targets
Target 1 8900 - 04 May 2019
Target 2 24250 - 01 November 2019
This is how you do proper technical analysisIt's a joke
... ... ... but also not!
Don't waste too much time my dears. Technical analysis is just like photography:
No editing: average photo.
1 min edit: good photo.
2 min edit: great photo.
5 min edit: average photo.
10 min edit: bad photo.
Replace edit for analysis and photo for trade and you've got the recipe!
Don't forget that traders, more than everyone else, know quite well that ... time IS money :D
Short Canadian Real EstateThis short opportunity is based in fundamentals that the Canadian Real Estate Market is overvalued and house prices are already in the correction territory in cities such as Vancouver and Toronto.
Considering that REITs seems not be affected this year so far I believe that is about to change. It might be a just a small pull back and the prices can still be sustained for at least a year. However, the main principle is that upside is bigger than the downside if you are short Real Estate. In addition, REITs are risk averse for the most part, so the profit/loss exposure can be reduced.
Anyway, another point is if you look at Housing Bubble in US, one of the first signs of bursting it was the REIT falling apart before anything else.
Bitcoin Price Action Update (day 343)Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business.
Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process
Consensio: S EMA getting close to crossing L EMA
Patterns: Bottom of descending triangle is at $5,800
Horizontals: R: $5,589 | S: $5,306
Trendline: Kind of looks similar to gold with a long term bull TL starting from the top of the price with a recent broken bear TL.
Parabolic SAR: $5,115
Futures Curve: Backwardation
Funding Rates: Longs receive 0.03%
Shorts: Really starting to increase
TD’ Sequential: Coming off G9 + bearish spinning top
Ichimoku Cloud: Daily starting to C Clamp. Weekly stilll without bullish TK Cross.
Relative Strength Index: W: 60 | D: 70 with bear div
Average Directional Index: Daily showing strong signs of exhaustion. Looks very similar to BTC selloff to $3,000.
Price Action: 24h: +1.01% | 2w: +8.94% | 1m: +40.69%
Stochastic Oscillator: D SS & W OB
Summary: The golden cross is incoming and the price is pulling back into it, however I am awaiting further confirmation before buying. The market is heavily overbought and I believe it is due for an extended correction (1 month+). Furthermore we recently had a news development that could be very significant.
The current market structure is very much an inverse of what we saw during the selloff in December of 2018. First notice the bull divergence on the RSI that occured from November 24th - December 16th. That occurred right alongside two daily red 9’s. We currently have a bear divergence following two green 9’s.
The Average Directional Index is also showing striking similarities. Spiking above 70 and then rolling over right as the bear divergence was taking place. This tells me that we are in for another extended period of consolidation.
If that occurs between $4,200 and $5,600 (what I think is most likely) then it will likely cause the 50 and 200 EMA’s to cross back and forth which would whipsaw anyone using that signal to enter / exit. If instead we consolidate between $4,700 and $5,000 for a few weeks then I will likely be a buyer. That would mean that the price is staying above the 50 and 200 EMA and a whipsaw would be much less likely.
Something else to pay attention to is the CME futures expiring tomorrow. The price has a strong propensity to experience volatility following expiration of CME futures despite the small relative volume. Perhaps this is a result of crypto exchange volume being largely fabricated , as was argued by Bitwise Asset Management last month. If that is the case then the actual volume on the CME futures could be far more significant than many realize.
Earlier this afternoon it was announced that the New York Attorney General will be prosecuting Bitfinex . The allegation is that they commingled client funds to cover up a $850 million loss. The NY AG maintains jurisdiction because he believes Bitfinex has been servicing clients in the state of New York.
The price fell 8.5% in the 30 minutes following the press release. Now it has started to stabilize around $5,000. It will be very interesting to see if that support can hold much longer despite the overbought conditions and negative news.
Critical moment A critical moment for btc here. Good shorting opportunity of the 9 on a 4hr timestamp to retest the bottom of the channel. After that, if we break out of the channel, the 4.8k price will be retested and eventually, the low of the year (3.1k) will also be retested. If price continues in the channel to the upside, I expect a 5.8k-6k retest, then back to lower lows.
BTCUSD: potential bullish TK cross on 1W in late May 2019BTCUSD has been choppy, but the weekly chart shows a potential bullish TK cross on default ichimoku settings and lagging span above price if bitcoin stays within its current range. This scenario agrees with a bullish narrative using TD9 sequential, with a weekly 9 followed by 1-4 candle correction before trend continuation. A retest of daily moving averages in the $4600 range is still possible in this narrative, so my suggestion is to stay on the sidelines or be VERY CAREFUL #trading for the next few weeks until we see a clear trend develop!
SELL BITCOIN - DeMark Swing TradeBased on DeMark analysis of 1W chart, we're due for 1-4W pullback. This trade is based on a 1D chart breakdown of Ichimoku supply and Pitchfork center line. Anticipating a 9 Setup finding support at Pitchfork/Ichimoku levels, we buy and andticipate selling at Pitchfork resistance. Price can break out so taking partial profits or waiting for confirmation from Candlestick reversal patterns with price confirmation would be best.
Sell: 4777
SL: ???
Buy: 4300 (25%)
Buy: 4100 (25%)
Buy: 3850 (30%)
Take Profit: 4650