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BTCEUR trade ideas

BTCEUR - A possible downtrend long before new ATH Good morning traders. Leave a like or comment if the analysis can be useful for you. I worked on a one-day timeframe to analyze the main long-term trends that have accompanied BTCEUR since 2017. The thick blue trendline highlights an important long-term uptrend although, following the bubble burst in December 2017, a symmetrical triangle formation is easily identifiable. The pattern breakout in July 2020 has charged the BTC maximalists with hope for new ATHs. Even if this were to happen in the future, evolution appears much slower than one might imagine. After hitting €10.400, the BTC price has returned to just above €8.300 to retest FIB 23.6 and form a reverse cup and handle. In these days we have returned to talk about the Mt.Gox hack as a document from the Tokyo District Court dated June 30 indicates that a decision on compensation could soon be finalized and sets October 15 as the final date for receiving a rehabilitation plan that will allow victims to receive compensation. However, October 15 does not have to be the big decision day. Thus, the extension refers to the presentation of the rehabilitation plan and not to the reimbursement of the BTC: the trustee only has to submit a plan by October 15. As a result, it seems at least likely that the 150,000 BTC of the Mt. Gox trustee will not reach the markets in the short term. In the medium term it is therefore more likely that, unless extraordinary events would upset the market, the price will retract towards FIB 38.2 and then will try to rebound. A drop below the €8.000 threshold could however push the price towards lower levels and reopen a new long downtrend.
Short
by wanderlust_87_
BTC/EUR - still waiting for direction confirmationUpdate on the previous idea - as we can see, situation has not changed a lot. Price did not manage to break resistance, but also - it did not go down from it. So options are the same: If price will break the level and go up - then you can enter long position (stop loss should be below 9390 level, target - around previous high at 10500). If the price will not manage to break this level, most likely it will try to test support level at 8040 zone. This level is quie strong, because it stands from 30 April. If you want to trade Crypto with low fees - try Binance: www.binance.com Link to earlier idea:
by Camar13
Bitcoin EUR / BTC USD. Two possible scenariosWe're curently in a range which might present us actually three scenarios. The one with smaller probability not listed in this example is price stagnation and side movement, which (due to a long term breakout) has a positive impact on LONG positions. Presented here however possibilities consider short term price movement which is restricted by previous behaviour of global traders community. Breakout above current resistance will result in signifficant price movement towards the upside - possibly well above presented here top from 17'th of August (LONG term dynamics). We can't however exclude here long term (strong) resistance in this area, hence tight stop losses are recommended and appropriate capital managemet as always is cruicial for the long term outcome of trading activities. For short term traders LONG here isn't a bad idea since there is a little bit of space for growth, considering visible RSI and supportive (not presented here) 100 Expotential Daily Moving Average. Apart from my cold storage capital - I stay here out of trading, waiting for further price development after unfinished yet weekend. Have a great day - and good luck with your consistency.
by crypto_poet
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