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BTCEUR trade ideas

Small thought and notionHello beautiful person! Hope you all are doing great today and did you manage to collect some profit during this approx 10% price movement of BTC? Just wanted to pop in quickly and share a thought I have on current market movement, because I spotted an very small divergence on the RSI on 4 hourly chart. If you are in the market today or are ready to commit to some trading, please take a closer look into the indicators and the news to re-check your strategy; just to be sure. After the initial spike of buy order, which happened within a 4-6 hour window, the market has been horizontal, but the RSI is pointing downwards; which could indicate a change in trend, or just due to "white noise" in data. I switched to Heiken Ashi to see if the divergence changed, but it did not. Overall market cap has not increased much over the past 7 days that comfortably describes the sudden spike of buy orders that got us to the price level we are seeing today. That combined with the overall trading volume afterwards have not increased either, the question then remains: will this price level hold? Summary spotted a small divergence on RSI, that could potentially indicate a trend reversal. The rest of my momentum indicators are still showing strong continuation of current trend. Volume and total market cap is not much changed. Be cautious and re-check your own charts and indicators before trading. PS Seems like the Alt-coins are getting some price and volume increase, for those of you who are interested in that market. Stay safe, and keep on doing great things!
by egilagre
still within expected rangeHello hello wonderful person! It has been a while since my last post, but to be frank; nothing much has happened with BTC and market outside of what to be expected. If you see the chart I present here, it is the same as my previous post about 2 weeks ago and it still holds water; which is good! Short summary of my thoughts on TA for BTC/EURO: The price is still within the larger trendlines (triangle) as shown in the daily chart, with great room to grow. I spot no divergence on RSI on daily or 4 hourly, which could indicate no clear trend reversal. Coppock curve is very close to 0 in daily chart and 4 hourly on the negative side, which is not comforting. I would like to be at least above. Seems to be a horizontal trading with average trade volume and not much momentum. Conclusion The stock market went up, not suprisingly, but BTC followed which was somewhat suprising to me. Whilst gold and other precious metal were having steady trading and some instance a short decline, the stock market went up and BTC went up. That can be interpreted that BTC is following more the stock market rather than the gold, which threatens the digital gold claim. It will be interesting to see what BTC price will be doing when gold and other precious metal increases even more in value and stock market declines. As I have stated previously, I do not believe that we will have a V-shaped recovery but rather see more declines in stock market, second wave as I called it. This will be seen when more consequences arise to the surface from the lock-downs, along that the initial helicopter money will not have the impact it was meant for and more money is printed. So Why I am talking about the stock market for BTC? I believe they are interconnected, and further declines will impact BTC price as well as the value for gold will impact BTC. How? remains to be seen as we are moving into unknown territories; but I am bullish on the BTC. I think we will remain within the triangle in the chart for the better part of this year, which means we will have rallies and declines. If you have the will and guts to trade in these times, there are money to be made; but be cautious. And with that, stay safe and do not trade what you can not afford to lose.
by egilagre
1
SCAM WICKS TO SQUEEZE SHORTS - PROOF WE ARE ON THE RIGHT SIDELook on bitfinex on the Eur. The price already hit the 100 hourly MA. Volumes were also huge. On bitmex the max price of BTCUSD was 7028, while on Kucoin it never rose above 7000 (the max was 6995). I do not want to do any endorsement for good and bad exchanges, but just look at the levels. Remember that exchanges have full visibility of your stop losses, so always be conservative with leverage and levels! This is the proof that the direction is down, and these levels are great to open the short, if not opened yet
Short
by edutradinguru
BTC approaching resistance and showing bearish divergence!Hi there cryptofriends! Today I will share my ideas for BTC with you all. We have all seen BTC making strong moves up last week. There are a few reasons why I am short at this level: 1) Price approaching Monthly TL as resistance 2) Weekly chart shows us this price level has been tested a lot of times since October 2017. This also means that if we are able to flip this level, we will most probably turn bullish! 3) Fib 50 lines up perfectly with the Monthly resistance 4) Previous fib hitting 78 now, lining up with the fib 50 from the picture above here. Pullback and then continuation? 5) Bearish Divergence on the 4H chart All these things combined give me a bearish mindset for now. I'm overall bullish for BTC, but I don't think we are in that time yet. Feel free to share your thoughts on BTC and my idea! Happy trading!
Short
by crypto_epunto
3
CounterTrending in B wave for BitcoinMarch saw a massive bitcoin trough with a surge in volume, just like C wave's frantic markets enjoy them. That's 'dong'ed the end of past year's bearish market. So let's try anticipate what this new upmove is all about. Casting our thoughts one degree up, the two scenarii are: - One B wave up, subdividing into a corrective a-b-c, as drawn here cause that's our favourite scenario;-) - Resumption of a much larger degree uptrend, one which would be as large as Bitcoin's inception till June 2019. Also one which could save McAfee's balls haha! Unfortunately we don't have much to feed on for now. Yet we have had a bullish five-waves' up pattern which ended last week. From its retracement we could risk a guess at future price moves' personality. So here it is bluntly: - Shallow retracement (24% or 38%, in the range 5400€-5900€) and we would bet on a zigzag up to 10500€-11500€ - Deep retracement (50% or 62%, in the range 4600€-5000€) and we would favour a larger impulse, with very little to no overlapping in the uptrend, but with so many subdivisions that bitcoin could feel stagnant for a looooong while, and confusing yet still progressing upward, until volume shoots up with the price. Footnote: volume is thick, it's been so for a month now. At the very least, we're at a trend shift. If bigger, these volumes are early buyers, and investors should follow suit with the price moves that come with these guys.
Long
by djahma
BTC TARGETS - CONFLUENCE SIGNALS A 6150 LEVELHello guys, happy Easter! Today I am using the BTC EUR chart for two reasons: 1- it shows less drawings that the USD one so it is easier for you to understand. Also, we will not focus so much on absolute values, just the final target that can easily be converted in USD. 2- it highlights a little difference compared to the USD one (explained at the end). The long/short ratio is at 0.5, meaning that for every position long there are two opened short. Everybody is expecting a retracement. This is absolutely normal and as I said, it does not mean it is a bad sign. On the contrary, the movement from 6800 to 7300 usd was good for BTC as it reduced the probabilities of a stagnation in the following months. Said that, a retracement is very needed, as btc was growing too fast. Look at the two blue trendlines, how steep they are: that uptrend was unsustainable and as soon as they were broken, the price went down in a controlled way (always within the fibo retracement area). I think that the lower line of the two channels can be a good alternative and sustainable trendline for btc in the near future. Now we are a little slow in going down cause 6.1-6.2 (in eur, 6.8-6.9 in usd) was a very strong resistance to break in the past two weeks, and so is now as a support. We are also located at the edge of the fibo retracement for the last leg, and in a confluence of lines: the upper boundary of a longer term descending channel and the two halfway lines of the two medium term channels. And last but not least, this is a long weekend so activity is smooth. Also, even if not visible here, from the 4th of April a H&S is formed, that exactly has its target (I drawed it for you, it is the vertical blue line)at the confluence of the two channels' lower line, and it is also within the fibo retracement area. target is 5.5k-5.6k in eur, 6.1k-6.2k in usd. RSI has much roomto go down still, and MACD is turning red. Which other confirmation do you need? This is a great opportunity to short with distant target and tight SL, RR is big. A very interesting thing to note is that, contrarily to the USD chart were many were expecting a firther increase, the one in EUR shows that BTC already reached the level before the big crash in March, and used it as a resistance now. Let me know what you think or if you see something different from the graph!
Short
by edutradinguru
Is this a good buy-in oppertunity?Hello there beautiful person! Hope you all are ready for a great Easter holiday, maybe a good time to enjoy life and try to forget a little bit of what happening around us; but still remaining safe. This post will be a lot shorter than previous. Changes from previous post: Added new symbols to make the chart easier to read Added support line at 6460 Added resistant line at 6826 Overall Market Reaction So there seem to be quite a jump or pump in the market, a S&P 500 alone had 10% increase from 03. April to 07.April. Other stocks like: Tesla, Google, Amazon, Beyond Meat, Facebook, Vedenta, Apple, Disney and 3M are all up, and a fair amount of up as well. Gold have had an increase as well but slowed down. It seems that this is the effect of all the printing of money and stimulus into market and companies, and I am afraid it is purely synthetic pump and it will not hold for long term. In my previous post I mentioned a second wave, and I still believe that is in the horizon. However, we are seeing a temporary pump now up to that second wave, so be cautious. Momentum of BTC I have looked at the chart with daily and 4 hourly mainly and switched between: Heikin Ashi, Candles and Renko. I have switched between these three to see if the indicators show the same or a different story. Most of my indicators are showing that this momentum is good, with exception of DMI that is not yet above the 20 threshold. The 100 MA daily crossed the 200 MA daily on the upside, which is a good sign. The triangle I drew a long time ago still holds and it is good to see that the price is moving again within this triangle. Conclusion I believe that what we are seeing now is the result of money flow into market and it is synthetic and will not hold in longer term. However, it is a good trading window for those of us that want to do active trading. For this momentum to continue or hold, it is important that the resistant line 6826 is broken and becomes new support line, or that the 6460 support line holds with trading between those two resistant and support line mentioned. Personally I am not betting that the price will hold and increase in short term (at least a month), and in best case scenario will re-test the upper triangle resistant line which now lies around 8700. So I am buying now some BTC and Ether, and will be placing my sell orders at around 8000. My stop-limit will be 6000. Whatever happens, take deep breaths and dont do anything rash and stick to your strategy. Stay safe and have a great holiday!
by egilagre
2