Bitcoin Bearish Butterfly +Bearish Perfect AB=CD Possibility ?? Bearish Butterfly + Bearish AB=CD >> Bearish Bat >> It is not an Investment Advice. It is for Tracking Purposes
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Bitcoin - Cautiously approaching weekly resistanceLocal top could be somewhere near for sure because BTCUSD in price discovery mode. Thus, I won't short it for now.
Short-term support is somewhere near $10800 atm, but I don't really rely on it in case of a dump. And ofc it would be better to get $10400 at least, less risky.
Mostly bullish, spot long, not going to open leverage positions yet.
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Information is just for educational purposes, never financial advice. Always do your own research.
Another one ???Rsi supported here, it would be a start for forming bullish divergence!
10500 is a dangerous place for me, you know about local resistances in high time frames ...
Personally I need to see a downtrend first, I dont trust to market for now.
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We need a correction now ...Rsi is got tired, we need a correction now ...
After those pumps and hitting local resistance in high tf.
Rsi touched over bought in 1H, 4H and daily ...
This is the perfect time to see a confirmation of the support line.
First targets would be 9950 and 9700, breaking them will head us to test 9500 again.
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It seems really good here ...Alright guys, as you can see rsi touched the old resistance again, there is two idea here, breaking the resistance, and rejecting of it.
It seems we have hidden bullish divergence which you saw it head us to 10k after a month.
But this resistance is really strong and it rejected us all the time.
I recommend you to not enter long term for now, do the short ones and use a good leverage by your capital.
In high tf, this is danger zone ...
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BTC: Downward Pressure IncomingFirst of all, please support our work by smashing that like button or following! These really help us to reach more traders like you!
Given the 20k ATH, the 14k high, and the recent downward channel, BTC has many key resistances layered between 9.4k - 10k. The longer resistances take to develop, the harder they are to break. As a result, before these resistances are broken, our bias remains on the short side.
There are currently many differences regarding how to make sense of the recent 7-8% rise. Some believe this breaks us out of the triangle into the next motive wave upwards (either wave 5 or wave 1 of next bigger moon move). Others (like us) believe it's part of a larger corrective wave to the downside (Wave B). However, regardless of which side one is on, the one thing that we should agree on is there's at least a 300-500 correction ahead very soon. Even for the most bullish scenario (we are in wave 1 of the next bigger structure to create ATH), wave1 needs to correct, and with that many resistances, and wave 1 being the wave with “disbelief”, we are looking at a 0.618 retracement.
Do you agree or disagree? All thoughts and critics are welcomed!
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BTC: Which side are you on?First of all, please support our work by smashing that like button or following! These really help us to reach more traders like you!
Both a bullish count and a bearish Elliot wave count are above. Regardless of which side you are on, we are likely in a 3-wave flat (3-3-5) development, and a correction/downward trend is due soon.
For the bearish scenario, if B rises above 9.9k, the current ABC zigzag structure would be invalidated, and would likely turn to a flat. Since flats generally signal trend continuation, it could potentially mean the 5 waves to the upside has not finished, and we are going to have an extended 5th wave (much higher than the bullish scenario on the right).
Do you agree or disagree? All thoughts and critics are welcomed!
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9900 is possibleWe saw the up trend from 9500, rsi still has the support line and channel is ascending for now.
4H confirmed support line for rsi, and also daily too ...
You can check all of them in the related idea.
We broke ichimoko cloud in 1H and also we have ma's support here ...
So by these reasons I can see 9900 is coming ...
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9700 and 9800 ?The easiest idea ever ...
You can see the support line in rsi and also ascending channel do I need more explanation?
Lets see higher TF's to be more clear.
Cloud broken perfectly and thats a strong sign of bullish trend here.
Cloud broken here too, but rsi failed to break resistance, so rsi needs to check support line, but what about ma's ?
We have support of all ma's now ... this is another bullish sign.
So, I will do long of 9400 and 9500 to 9700 and 9800.
Below 9400 means the idea is fail and you should close the trades ...
Always remember to set your SL guys ...
My SL is 9370
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BTC Weekly Outlook (FA & TA)First of all, please support our work by smashing that like button or following! These really help us to reach more traders like you!
Our mid term bias remains on the bearish side. However, given how manipulated this market is, I don't think a major drop is going to happen when retail margin traders are overly short. Fake outs are necessary for the short term to lure retail sentiment onto the bull side.
Key technical:
1. Strong channel & EMA resistance above
2. RSI is meeting both MAs resistance and key resistance since May
3. Daily MACD down crossed
4. Key support at 8.8k before bottom of channel (we still get asked quite often of the "current rising triangle". Support/resistance work mainly because traders believe they do. So high likelihood BTC will bounce off of here to the upside.)
Does institutional accumulation mean we are bullish?
The short answer: short term – no; long term – absolutely.
As most of you may already know, Grayscale has seen its best quarter in Q2 since inception, raising $900M for its crypto products. As a result, there has been lots of bullish talk around how new money and institutional interest in the space will push us to ATH.
However, just as there are retail investors and retail traders, there are two types of institutional players as well: traders and investors. Grayscale, even though as the biggest institutional player in the space, focuses on offering crypto exposure through traditional investment vehicles, and the products are investment oriented. This is very different from actively managed crypto funds which are performance oriented. With crypto being a space of investors dominating the entire BTC supply, and speculators dominating daily moved BTCs, the differentiation has to be made about which news drives the long-term underlying BTC value (mean reversion), and which news drives the short-term price action.
From my perspective, the Grayscale news is a confirmation of BTC long-term bullishness, but by no means is an indication of us breaking out of the current “triangle” (as many believes) to the upside. Investor oriented behaviors take a long time to realize (we dropped from 6k to 3k, and dropped through the COVID black Thursday when investors are bullish), and as shared last week, the institutional traders are still bearish for the mid term.
Hope this helps clearing some confusions out there.
Are you bullish or bearish on BTC? Do you agree with our analysis? All thoughts and critics are welcomed!
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9100 is possible because ...Ok guys now I can say that ... 9100 is possible because of confirmation for support line in rsi in both 4H and daily.
And also there is something else too, bottom line of the triangle in 4h, it should do a retest.
If you see the ichimoko cloud and you know a little of ichimoko trade strategy, you should know that this is the time to test the bottom of cloud now.
So in my opinion we can enter short to 9100 as first target.
And if you dont trust the trend, you can stay out of it for a while to enter the long one to 9300 and 9500.
If you check the daily chart I just shared here, it seems divergence rejected(It could a fake out), im not confirm that yet.
In this case, I rather to stay for a while to see the confirmations...
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One more touch and 10k ?This is possible to see 10k again ...
As you can see hidden bullish divergence is taking control here ...
If I see another respect to the line in rsi and also ichimoko cloud ...
I will put on my dress to visit the moon again ...
We are in a range now ... there is possible to see a big down trend too, so do not enter to trade ... wait for confirmations ...
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Possible bullish in 1HSupport several times, rsi formed a bullish divergence, and you can easily see rsi symmetrical triangle, but there is one thing here which could change the way ... descending trend line(I talked about it in related idea) and also ichimoko cloud is weak, and also high time frames are in descending mode.
So lets discuss and share our thoughts here => if you dont mind...
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Take care, trade safe and GOOD LUCK.
BTC Multi-timeframe AnalysisFirst of all, please support our work by smashing that like button or following! These really help us to reach more traders like you!
Overall, we remain bullish for BTC long-term (fundamentally) and fairly bearish for the coming 2 months ahead. As we’ve mentioned multiple times, a healthy correction is necessary for BTC to make an ATH. For the shorter-term trading, we are eyeing long opportunities at the bottom of the channel.
Weekly:
1. Repeating July to September 2019 downward channel development (many triangle upward break out voice back then as well)
2. RSI kept rejecting bear range resistance (around 60)
Daily:
1. Failing EMAs, and lack of strength. (In a bullish trend, price often rejects EMA fairly quickly)
2. Downward channel
3. RSI's in a bearish trend beneath its MAs and key resistance
4HR:
1. RSI hidden bearish divergence forming
2. BTC RSI has a habit of visiting below 30-35 range twice – wait for bullish divergence for the long side
Major drops / rises are profitable for whales. If retails are on the same side, there are more traders splitting the profit, and the profit taking will also hinder further price move to trigger liquidations. Why we often see bull/bear traps before major price moves is because these are effective methods to shake out “profit-splitters”. As a result, a major drop is likely to be initiated from around 9.4k rather than the current price level. And if we go to the downside from here, the price is likely to be range bound again for the coming week.
Are you bullish or bearish on BTC? Do you agree with our analysis? All thoughts and critics are welcomed!
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🌐 We believe in the power of blockchain data analysis!
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Hold steady! short is coming...Rsi failed to touch over bought and it formed a divergence!
Vortext indicator confirmed that longs cant do more than this!
Macd is forming red histogram now(But week ones)
Ichimoko cloud turned the way and it sent a descending sign(But it was week and price is more than the cloud)
Market couldn't break the descending channel resistance!
These things I talked about, are trying to tell us longs cant take the control yet ...
As I said that before, breaking 9200 needs a strong whale ...
So until we are lower than 9200, Im in short ...
As you know my trade style and strategy, mostly I work in lower time frames, but these days lower TF's are in a big range ... atr is lower than 20(Market is dead for now :) )
So I will share another ideas in high TF's too.
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Shorts are trying to taking control again ...Alright shorts backed to the game ... rsi moved down again ma's lost the support and now this is the perfect time to see a test one ma 12 and 200(They are focusing on 8500).
If you believe in this old guy(Ichimoko) you should know about the trade strategy by it.
Cloud broken and crossing hapend between kijun and tenkan here while price was less than the cloud ... this is a high sign of the strategy.
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Cloud broken...Ichimoko cloud just got broken, this is a high short signal here. We have high divergence again and also macd is drawing red histograms, other signals are about cmf and VI(Vortext indicator).
By these signals I can say that 8800, 8600 are coming ...
We have 8800 which is a important resistance in our way ... breaking it means more down trend ... in my opinion 7k is possible now.
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9100 confirmed as bottom !Alright guys, we have different same thing in indicator language here.
We tested bottom of the ichimoko cloud and it supported us at 9100 area, we have support of ma 100, we have support of rsi in the line I drew(Rsi convergence).
The first idea is about long which I more believe in now, breaking the first resistance 9300 will head us to 9450 and 9600 and more, losing the support of 9100 will head us to 8900 as first target!.
Since daily situation changed and rsi divergence almost rejected, long term short is not possible for now(more than 300 pip I mean)
We are in this rectangle channel for a long time ... its the perfect time to see a breakout or breakdown ...
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Its time to choose your sideAlright guys, we are at a very powerful zone now ... both resistance and support are strong and they are holding their positions as well ...
As you can see we have two different channel here:
Descending: red lines
Ascending: white lines
There is another thing for ascending confirmation here for now ... rsi convergence(white line in rsi), and cross over on ma's is close and also we are above the ichimoko cloud ....
Personally im in long to 9450 from 9150, but I will close my trade IF I see a confirm break below rsi line or market bottom line(White line I mean.
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Uptrend is processing Alright as you see we have convergence here and also support of BB bottom line and also 9k here.
We test bottom of ichimoko cloud already and we failed to break it.
So there is a possible up trend to test 9450 again.
If you see a support in rsi by the line and also closing this candle above 9150, it means there is a potential to test top of the channel again ...
About ma's we are lower than ma 50 now ... we are testing it already, if we make it to support us, we will go for a ride to test ma 200(Its about 9400).
Keep your eyes open, below 9k means down trend ...
I have to include this, there is a possibilities to see a fake out to 8900, be careful.
Daily could change every thing and move us to 8k.
BITCOIN BREAKOUT AT THE CORNERHey guys! Here is update for Daily Price action on Bitcoin. What to expect from the breakout of Triangle.
In my opinion we should expect some fakeout breakout before the move.
So I determined 2 key levels for the Bitcoin in 10 000 — 8600 range.
Here is the clear view on the chart as pic:
In video you can find why i think so, basically because i am not a intraday trader, so i am looking for mid term points to confirm the movement.
Please consider using stop loss in your personal trading.
Stay safe and profitable
This is Artem Crypto
