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Xbteur

Let Us Take a MomentAs you can see from the chart, BTC has formed a double top! Which in this case I would call a double-top reversal. This is because we have already broken the neckline at 7538, which serves as confirmation. Now even though it appears we are moving up at this moment. I would be hesitant to say that this is the end of the correction. If you google double top patterns, you will see that it is very common for necklines to break, and then the price to retrace back up above it for a period of time. This is usually nothing other than consolidation. As you can see that bounce went no further than the .382 fib retracement level. So at this times, a continuation downwards seems very likely. This quick post was meant to be more of an educational post than an analysis, but I hope its the same either way. I w ish you all the best of luck! DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
BITSTAMP:BTCUSDShort
by oh92
6
Bitcoin Price Analysis 10/15/17BTC has once again tested the top of its upward channel. As history tends to repeat itself, one must think we will see some sort of retracement at this level. However, during BTC's bull run in August, the bulls were actually able to push through the upward channel momentarily. This caused us to form the extended channel that we are now in. Meaning it is quite possible we will do this again, possibly taking us up to the 1.618 level and beyond. Key factors for this is the current market sentiment. Bitcoin has officially gone mainstream, leading us to a whole new range of investors. Therefore the demand for bitcoin has skyrocketed, and we all know the effect of that. Not only are there new investors, but Bitcoin will once again be forking this month. Therefore many people are swapping their alts for BTC to get those free coins once again. However, we must keep in mind that we are currently testing the upward channel which just happens to mark the completion of a possible ABCD pattern. If this pattern holds true, we will likely see a larger retracement. If so, I would watch out for upward continuations at the gold fib levels show above. This chart is nothing other than an update of my previous chart posted on Aug 31, 2017. DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
BITSTAMP:BTCUSD
by oh92
7
BTC - Game Over?After reaching ATH almost at 5000 USD and at FIB 4.764 (when measured 1 = 1150 and 0 = 150 from the last 2013 bubble and retracement), Bitcoin is currently within a downtrend channel facing 4 strong resistances. Hard to break them but if we look to the details of the other patterns, it's interesting how dissimilar they are. BTCUSD is currently within a small bear flag. At the same time, this bear flag is within a pennant, which could possibly be bullish. My guess is, if BTC breaks down the bear flag and bounces of the lower support of the triangle, it might gain some momentum and break the four resistance levels it has been dealing with inside of that channel since ATH. If this happens, we could see BTC going first to 4400 and then attempting to go again to ATH. Nevertheless, BTC is also within a wider and longer rising channel that got its shape since the first trimester of the current year. If this channel breaks down (as usually rising channels do), expect a massive dump. There is also a possibility that BTC will bounce on the lower support level of this channel and then attempt to reach ATH, although I find it less likely. Not totally diminishing it though.
BITSTAMP:BTCUSD
by CoinMajesty
11
Support levels Bitcoin in EuroIf the two remaining large Chinese exchanges announce they will be closing business until licensed, we can expect incremental drop through support level stages as indicated on the chart. With final bottom theoretically possible if mass panic avalanche or major investor decides to pull out in a game of chess. Current bottom bounce could be a resolution, but I doubt it since news dust still in the air - probably positive thinking and expectations it's over or people averaging cost to buy-in. Be wary of bull traps. Markets will recover sooner or later, but Bitcoin fork coming might delay that and it isn't over until January really.
by cyberkristiyan
XBTEUR Entry LevelsIf you buy Bitcoins on crypto exchanges supporting EURO, this post helps you to spot possible entry levels. Yesterday I wrote about BTCUSD and how we should trade this market. You will find this post in related ideas. Just read it in order to understand the main idea. As for XBTEUR, this market also has the same price movements but different entry levels for possible buy trades. We can see that the market is near the possible high. RSI is in the overbought zone and it confirms possible downward movement. We must be very careful with long trades. We should expect for possible retracement to the middle or the trend line of the ascending channel. These levels will be good for buying and building long positions. Don't forget that all buy signals must be confirmed by bullish candles and RSI reversals.
by DLavrov
5
BTC - End of the Year SynergyLots of bulls still, but to me this triangle says it all. I don't think we're going higher, although at this point anything anyone says is just speculation. Moon has been delayed for next year at least in my opinion though. If you take the supports and resistances somehow everything melts down at the end of 2017, around December 30th - December 31st, right around when the Stellar giveaway will be taking place. Coincidence? There are no coincidences in crypto. Something might be happening around then. If you trade this triangle just buy the supports and sell the resistances. I think it's going to break down eventually and we'll revisit 8000 CNY in the next months (around 1200 USD). But then, around the end of the year, a pivot will come to save Bitcoin, or to kill it forever. Good luck :) Remember if you want to discuss about this into more detail you have more information about my groups in my signature. I'm also analysing the fractals for this and once I have a better the idea I will post the updates in there. Last time it worked perfectly. I predicted the exact moment to sell the top of the bubble even before it started. You can check it out here: Happy trading!
B
by CoinMajesty
14
XBTEUR: UpdateBitcoin is very close to start trending up again, as I expected originally...a correction until August 1st. I specially like all the negativity and manipulation that forced people out of their positions, into altcoins as a hedge, in cash on the sidelines. Many wanted to buy back on dips after the surge off the lows after Bitmain started supporting Segwit in all their pools, but couldn't. Dips never came, and when they did come, it was after the market had surged above the weekly accumulation zone (white boxes). Sentiment then reached a peak, and I believe many bought the top, and were liquidated after the next dip started. The buy the dip crowd didn't buy, many reverted to shorting due to a 'triangle breakout' to the downside. These short term traders briefly were in profit, but if they didn't cover, the market has already liquidated them or is about to squeeze them out. Now massive shorts are open, and I think the market is ready to burst higher, squeezing everyone and ther mother out of short trades, sending price to my bullish targets rather quickly. I'm holding all my crypto funds in $BTC as we speak, with a cost basis below 2000 for the last batch. I'll be looking to add after closing my short term margin longs in profit twice. My clients and me were in a drawdown briefly, but we have now recovered. The weekly targets make me think Bitcoin will form a top by November, which aligns with the fundamentals as well, since that is the time required to proceed with a hard fork to increase block capacity, as part of the New York Agreement, which is the main reason, together with the BIP148 soft coup attempt, which cleverly forced the miners' hands into letting $BTC scale via Segwit, and sacrifice their beloved ASICBOOST. This comes with a price I'm sure, and it will be revealed to us, what their end game is in due time. I have a few theories, but need more data to confirm or disprove them. The Bitcoin Cash hard fork, which is in reality, an altcoin until proven otherwise, is the key here. I will hold mine, once I receive the airdrop, as an insurance policy...I doubt -at least for now- that they manage to pull hash rate from $BTC in any significant manner but it's wise to be prepared for the worst by year end. This would be quite logical, and would match my long term technical forecasts making it a high probability scenario. Best of luck, Ivan Labrie.
Long
by IvanLabrie
63
BTC Make a move. Ive had the luxury of being away on vacation and having had time to think about this and concluded that this is hugely complex in its analysis. This analysis is with reference to my very long term trend analysis tagged. I will state that im not a coder or BC expert but have a thorough understanding of economics so please excuse any BC misunderstanding in the below. The underlying fundamentals in this market are so unusual and make charting / second guessing a next move based on short term charts difficult so i must revert to the long term trend which might be useful. I will relay some fundamentals in the economics of this market; 1- Bitcoin is about to find out if it truly is scalable without being breakable. 2 - There are individuals with the capability and economic incentive to manipulate this market (SHORT term). 3. - This is an exceptional example of game theory to those who appreciate economic thought. I dont believe that anyone wants to lose money in the outcome of scaling. Due to the investment into the significant expense on mining equipment, the net worth of the individuals involved into crypto, and the detrimental effect of a split in the chain would have on the aforementioned and potential foregoing, a resolution MUST occur. It doesnt make sense for anyone otherwise. Whether they like the outcome or not it just doesnt make financial sense not to reach a consensus beyond doubt. To be clear, i prefer a clean outcome, i dont trust developers more than i trust economists. Both have their flaws. I trust market consensus to resolve the differences. i therefore present two scenarios: A - Segwit WILL be implemented. (65%) Significant mining pools will accept segwit and have been blocking implantation to i) instill fear in the market to accumulate coins / revenue they will not be able to achieve in future and ii ) as a final push for their desired outcome. - if i was a miner and coin wealthy i would probably (shamefully) do this. This unexpected resolution will bounce bitcoin off the long term purple trend and push bitcoin to complete to consolidating symmetrical triangle and reach for the 1.618 fib extended from the lows of 2015 to around 5k by the end of the year. Investors and equity holders will surely desire this outcome. B - There will be a genuine hostile chain split (35 %) This seems the most risky path for any investor, (investor meaning miner, economic node, holder etc) regardless of their stance on the matter/stature. Resolution must occur because i do not believe two chains will benefit any party, however some short term damage may take place and we may fall back to the £1150s all time highs and bottom trend before convincing resolution toward a singularity (chain). Whether it really would ever recover is unlikely to me crypto would be all but finished; at least from a decentralized standpoint. So basically i am positive. We have never failed to move upwards from the long term average once broken. there will be a ferocious FOMO in either direction either way and will be exceptional for traders hence why we love bitcoin. This is not advice just my thoughts and i wish you all the best of luck. FILBFILB
BNC:BLXLong
by filbfilb
2