BTC DivergenceIf the divergence is successful the price will fall, it will tighten the first signal to reflect well if we have to leave the ship
BTC trade ideas
Yet another stab at price action, near-term down, long-term upI know there are more sophisticated ways of approximating Bitcoin price action. In looking back at prior 20% corrections/consolidations and the speed at which the events occur, we can use a prior example and draw from that a likely scenario.
Charting provides great insight into your investments. Draw your own conclusions. There are lots of great content out there that provide alternative viewpoints. Take all of the ideas into consideration.
Bitcoin supporting an upward channel, lower trend line belowI know there are more sophisticated forecasts but I always believe in the simple. For now Bitcoin is supporting an upward channel but a lower upward trend line remains below as a 'worst case' pullback. Let's see.
Bitcoin doesn't see its shadow - breaks resistanceBitcoin takes groundhog day by storm and pushed through resistance and into a narrow upward channel. Will this hold?
A lower trend line intersecting with the MA200 (1 hr) about 6% off today's high has been broken several times over the last week. Not fear mongering, just stating what is possible in the near term. There are so many places for speculation right now, I feel it makes this situation a bit more unpredictable.
What will February bring? So many areas and trends to focus on..In order of most activity or strongest to weakest.
1) An active horizontal area of support and resistance since Jan 1 (white lines).
2) Downward and upward trend lines forming a wedge pattern
3) An upward trending channel we entered in the last week of January and are trying to re-enter.
Negative volume has subsided and it appears that we are more likely to trend up than down. However for now we are pointing to the downside.
I was delighted to see at least a couple of YT crypto channels following my same pattern I have here. So at least I know I'm on the right track. Happy charting and much continued success in February.
Positive volume keeps Bitcoin in a rising wedge, trend line I'm not sure we can put links here, but I thought this volume by exchange chart was interesting. data.bitcoinity.org
$BTC - Dominance Market CapPurchases continue on bitcoin so they are just being placed on "Scalp" buy and releases at the moment.
The reviews to raise BTC Dominance above 90B are great, let’s wait to see how the market will dig this weekend.
Several possibilities including a repeat of recent lowsThere are several possibilities here. Including a dip down to a lower upward trend line that has been touched momentarily before, and then a resumption up. There will likely be buyers again down here, and probably the same buyers who are selling the swing.
Running out of steam? Time to re-test! BTC broke strong today taking many of the crypto-youtube-fanboys by surprise.Will Bitcoin continue to impress? Or are we going to fail to break the near-term resistance and then resume the downward trend? Or will we re-test on the upward trend line and head back up? Stay tuned!
Broadening formation or a wider channel moving up?A decidedly down move has touched both a horizontal area of support and a lower upward trend line that I've drawn out. For now it appears that we will break downwards into a broadening formation. TBD.
BTC market cap chart ://this is why we do thisthere is also this bump and run scenario but we need to firmly break this downtrend
BTC market cap chart ://this is why we do thiswe do this to get more btc and eth and a few more but big dad is what really matters... BUY THE DIP sideways downtrend with random alt pops untill full crazy rally get ready take profits stable coin and buy the fucking dip...
_HJGM
BTC hitting resistance in the near-term.Not anything spectacular here. I've updated my BTC chart focused on this area of support and resistance. Looking for BTC to consolidate in this narrow channel for now.
So much noise around Bitcoin right now. So many other coins to invest in. Of course, all investing has risk. Chart accordingly.
Now that we are firmly below MA20, MA50 what's next?A while ago I drew out a trend line (green) using the hourly lows from Dec 11 to current, comparing the trend with MA20 (white) and MA50 (orange). I know, its hard to see zoomed out.
I really am just using this to consider - is everyone chasing Ethereum and other crypto, bored with Bitcoin until price action is strongly positive? Or are we teetering on the edge ready for a strong move down? Historically it seems the longer we stay below MA50, the longer it takes to move strongly positive. That kind of makes sense from an investor sentiment point of view - who wants to get into an investment that isn't going anywhere.
ETHE liquidity occured?Looks like the ETHE growth has taken a hit against ETH.
Where's the premium? No buyers for ETHE on the OTC market?
Back to where we were at the beginning of the weekInvestors went risk-off yesterday afternoon and we are back the area of support we found ourselves at the beginning of the week.
I have to remind myself: When you are lost or end up somewhere you don't want to be - it's important to reflect back on where you came from.
SOME USEFUL TIPS FOR NEW TRADERS here are some tips for newbies. One thing, I want to say again and again don't rush in trading it's not a quick-rich scheme remember that. and every newbie needs to gain knowledge first about markets than most important part risk/money management need to learn because they r so important. Most newbies come into existence and think they have gone to use big leverage in one trade and they gone to be 100% right and gone to rick quick don't think in that way. u not gone to be 100% right all the time. remember u also gone to be face losses as well even experienced traders lose money but because of their money management they able to small their losses and when they win they big win. hope u understand what I mean who earned that GOOD LUCK. I will most more content for newbies so they can get the right path. thanks for reading :)
SOME USEFUL TIPS FOR NEW TRADERS here are some tips for newbies. One thing, I want to say again and again don't rush in trading it's not a quick-rich scheme remember that. and every newbie needs to gain knowledge first about markets than most important part risk/money management need to learn because they r so important. Most newbies come into existence and think they have gone to use big leverage in one trade and they gone to be 100% right and gone to rick quick don't think in that way. u not gone to be 100% right all the time. remember u also gone to be face losses as well even experienced traders lose money but because of their money management they able to small their losses and when they win they big win. hope u understand what I mean who earned that GOOD LUCK. I will most more content for newbies so they can get the right path. thanks for reading :)
240K For Each BitcoinBitcoin's market cap broke a huge symmetric triangle and even its ATH. It also trading inside an uptrend channel which is trying to break the mid-line of the channel. if it reaches the top of the channel, 5 trillion dollars will be Bitcoin's market cap and it means each bitcoin price will be 240K dollars in this bull run.
BTC market cap chart ://today the day, close above 36k we good close above 36k will be incredibly bullish...
Remember the cycle, which like all our target prices for alts seemed to get washed out by retail, usually, well at least, (feel the hesitation) somewhat go btc black whole then btc a bit down a bit sideways alts go crazy btc goes again and eth somewhere in between to the whole time.
Just remember to take profits here n there. Remember it sure is nice to have money on the side lines when u do see re traces. BUT I must note as of late, retail esp USA Europe etc. propping and out rite dragging alts every which fuckn way n mostly strait up is incredible but will reach its limit as this market cap swells without check. Its the great unknown into the exploration of new crypto market cap territory. BUT the one thing we do know is with all this new money (and verity of new money) will eventually show some type of cycle, hopefully in a progressive, bigger n bigger, market cap in which ever way shape or form i dont care as long as it leads to the foraging of the first true trails into mass adoption. That and a huge and volatile but always up market cap...
N around n around we go. Just remember that at the end of the day the rules of scarcity and greed and how they intertwine are what matters. U will never call the top but it is always better to try and plan an exit, at least a partial one. For those deep in and doubled maybe take out original investment, study, pick other projects and go for it again. Learn, push and try to understand this emerging ecosystem, this new digital revolution, the wild west of finance and fuckn leverage that nut n knowledge to level up to possible real life changing money one trade at a time. Even if it is a 2 steps forward one back kind of thang who the fuck cares. At least its forward, into this new frontier that few that, "talk the talk" r even willing to discuss, let alone consider venturing into, that great digital unknown. When we reach the summit and we look back for them then they will have a choice. Untill then i got only one thing to say, ://"fuck em, lets keep it pushn." Forward, always forward...
_HGM
