Bitcoin - Short term tradeIn the short term point of view, Bitcoin looks like it could be forming a double top. This is our second time hitting resistance, and we are forming a bear pin on this last hour candle. Take a look at RSI slowly creeping into the oversold zone. I believe that we are in for rejecting this next fibonacci level and moving down. Increasing my short position here.
Xbtshort
CRYPTO: BITCOIN (XBTUSD) BTC SHORT OPPORTUNITY - WEEKLY PINBARAfter a rallying week to $14k, we saw a massive sell-off, which, to be fair was expected so let's not be disheartened by it. A pullback is healthy and necessary to sustain any gains in the markets... and a great opportunity to buy back in at a low price so I welcome them with open arms :)
If the weekly candle closes below $10.7k, this would be confirmation that the bears have taken control and I would expect a breach of $10k.
I have set out target support levels where I would expect a significant bounce from and levels that we are likely to test/reject:
Level 1: $10,000.00
Level 2: $9,200.00
Level 3: $7,350.00
Level 4: $6,000.00
Bitcoin's drawback optionsBitcoin has made a great push but is a little over extended now. BTC needs to check back before continuing much more forward momentum.
MACD is headed downwards, RSI is topped out, and NVT is at the highest levels BTC has seen. The Ichimoku cloud shows BTC headed back to retest the cloud (IMO).
#1: First BTC is looking to check back to the 7200 range from here will be the first look at if BTC wants to make another swing up.
#2: However, if bitcoin doesn't rebound we could likely see bitcoin drop back to #1 for its support check (read more below).
If #2 does happen we could see some small support at 6650 has this is developing from the 4H Ichimoku cloud. Also, drawing back to #2 does not mean we are headed back to the depths. This test could be a healthy check to ensure the market has decided to keep moving ahead as if this level is not held a lot of momentum will be lost.
Thanks for reading.
Tell me what you think below and please leave a like.
XBT short ideaWe started an M formation
broke the previous trendline
we formed another trendline
we are currently at an important price point
For this to work we need to break the current supp/trendline, if so a downwards target to the 3700 area could be optimal.
If not, and we break above, a push to the 4100 area i think it could be expected
XBTUSD Likely scenario!?! too many rejections down we go! SHORTWhats going on everyone! I hope this chart on XBTUSD will help others see what i am seeing here, If your not already following make sure to go FOLLOW and if you feel this chart makes sense to you LIKE as that will allow other traders to see my charting and over we can learn together!
The chart pretty much says it for itself we continuously keep getting rejected upwards with lower highs every attempt.
Expecting sell off down to 61.8 FIB "4034" retest of resistance line to be rejected again and as my chart shows then i would assume 3870's-3880's will retest with rejection and downward momentum building ultimately causing this to break out of trend line dropping to 3600 support which would be our next stop either slowly making it down or having a quick sell off, Which i believe will be a QUICK SELL OFF!
Well that's all i have right now for XBTUSD/BitMEX,
best regard's to your trading, LIquidmex
!DISCLAIMER!:THIS IS NOT FINANCIAL ADVICE AS I AM NOT A FINANCIAL ADVISER. THIS CONTENT IS INTENDED FOR EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY!
: (Sorry the noise, but i'm trying to speculate main next convergent zones being
4650ish for bulls and 3950ish for bears.
the nature of convertions and distance from current price make the shorting bet being less risky (and therefore higher probability). So i tend to agree with btcmachine view and speculate a target around 4000k thats is also a psychological support
BTCUSD 15 min , convergence. bulish signalConvergence - This is a bullish signal that occurs on a downtrend, when the price on the chart sets new dips, and the indicator does not, and warns about its completion.
This small timeframe shows a reversing impulse, but it is only 15 minutes. We'll see .
6310 - shows us support.
if it breaks, we go lower
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Potential Bullish Crap Harmonic Pattern -%20+ Drop T32Target: 5.3k- 4.9k
Our C beginning with 6600, C may not push above 6600
It can push 6750 to complete potential 5th wave, and it will be our top of this pattern.
All instructions on chart.
Any question or comment appreciated.
6760+ is invalidating our pattern.
P.S.:This chart update for T31 and T25
BTC is either heading to 8,400 or back to 6,000!Hi everyone,
as we can see, BTC is having very nice days! Shorts are slowly vanishing. What we can expect in the upcoming days:
1) We are now in the zone where you can possibly short BTC with a tight SL. The next target for shorts would be around 6K.
2) If BTC breaks this resistance line it will fly to 8,000 and you do not want to miss this chance to get some profit from this "bull run". The problem is the psychological resistance lines where people are scared of them as they all think it will fall. And of course, it will fall them,
3) If we get the information that ETF was denied again I personally think we can fall to 6K and lower!
Bear the information with you guys. Do not make any stupid mistakes in this volatile market as it can cost you a lot!
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BTC short Possible SFP here, 15 min TF needs to close below the previous high (6527) for this entry to still be valid for me. I am short from 6540 and will stop out manually depending on the next move we see here. Targeting 6250 as potential take profit area. Weekly closes in 2.5 hours so expect volatility. I have stop buys above 6650 with take profits all the way up to 6800 and will let the rest run from there.
BTCUSD / D1 / ~300 pt dropI see hidden bear division on D1, and, a rising wedge. I understand some influencers have mentioned the rising wedge(bearish signal) could be a fake out, and that we could break the 6900-7000 resistance. However, taking cue from my previous experiences charting bitcoin, we've two indicators (both bear div & rising wedge) pointing a similar outcome, i.e. a drop; Ideally, a short from >6750 would be a good idea imo. As usual, appreciate your thoughts & comments.
Disclaimer: None of the content i share is a financial advise of any sorts, and is purely for educational and knowledge sharing purposes.
Short BTC between 6660 and 6640 with 7x leverage !Another signal give to our Premium Members !
Short BTC 7x leverage
Entry zone: 6660-6640
Target 1: 6600
Target 2: 6560
Target 3: 6498
Target 4: 6420
Target 5: 6350
ALL TARGETS REACHED for 30,6% profit !