BITCOIN - WE ARE ALMOST OUT OF BEAR - $22,000 - CryptoManiac101
Updated
Well my crypto maniacs... This has been a wild ride, wasn't it been? We are here again with a new bullish pattern which looks very promising. In recent weeks we tested multiple higher highs as well as attempted breakout through Ichimoku Cloud.
With that said we should expect steady uptrend movement within next week or two if this pattern completes successfully.
I will also later post another chart which will show that we are also in a downward wedge pattern which has been seen since early May. In all we are getting many bullish indicators, patterns emerging. Despite some bearish news and FUD being spread by some, including Brad Garlinghouse with his "over 50% of Bitcoin is controlled by several miners in China", which might be true, but still.
To conclude this chart, we will add that although everything looks optimistic at this point, drops are still possible. We are in a very volatile, sensitive market with many newer investors that panic and FOMO at every drop to pump. Carefully invest in Bitcoin and alts and if you have that option, go LONG, do not do day trading for something that is still worth less then 400 Million. We are nowhere near mass adoption with Wall Street investors lining up to go into cryptocurrency and many companies starting to experiment with blockchain. GIVE IT TIME PLEASE, PATIENCE WILL BRING PROSPERITY TO THOSE WHO WAIT.
Enjoy this trade, advice my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
With that said we should expect steady uptrend movement within next week or two if this pattern completes successfully.
I will also later post another chart which will show that we are also in a downward wedge pattern which has been seen since early May. In all we are getting many bullish indicators, patterns emerging. Despite some bearish news and FUD being spread by some, including Brad Garlinghouse with his "over 50% of Bitcoin is controlled by several miners in China", which might be true, but still.
To conclude this chart, we will add that although everything looks optimistic at this point, drops are still possible. We are in a very volatile, sensitive market with many newer investors that panic and FOMO at every drop to pump. Carefully invest in Bitcoin and alts and if you have that option, go LONG, do not do day trading for something that is still worth less then 400 Million. We are nowhere near mass adoption with Wall Street investors lining up to go into cryptocurrency and many companies starting to experiment with blockchain. GIVE IT TIME PLEASE, PATIENCE WILL BRING PROSPERITY TO THOSE WHO WAIT.
Enjoy this trade, advice my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
Trade active
Note
LIKE this chart for support!Note
We are looking at sideways movement hereNote
Support is just above $6,100 however drops below that in a quick fake bear flag are possible. From pattern standpoint we are looking at quick uptrend before June 29 - 31If we maintain support at $6,100 today we should be good
Note
SMASH THAT LIKE BUTTONNote
Keep in mind that we are looking here at 2-3 month trajectory path, what will happen after it no one knows in the slightest, just be ready guys. If you're in crypto right now, it's same as striking oil, but you just don't know it yet.Note
Here's thee downward wedge I was talking about earlier. It is not a perfect wedge, more of a downward channel that tis narrowing down, however it is possible most bullish sign out there for marketNote
With that chart above you see that we have 2 tracks drawn in which will either take us to recovery instantly or go to $5,600 levels. With that said as of today, track with instant recovery is most likely, nevertheless keep in mind that lower lows are possible. I am disclosing this not for you guys to sell Bitcoin, but on contrary to hold and overcome your panic sell. When everyone is bearish, that is when you become bullish on it and dominate it.Keep in mind that you should only invest what you can absolutely afford to lose.
Note
Quick hint crypto maniacs,Most alts are in same bullish pattern, so consider them as well because bigger gains are made with alts since they are more volatile
Note
Note
Very low Stoch on 1D and 1W chartsNote
Another bull sign that emergesNote
Remember that our positivity support for today is at $6,100Note
Here are out support zonesNote
Expected sideways in short term with $500 bounces up/down - very volatile - short term investors should not enterNote
Take your time with BitcoinNote
In recent news, Facebook is about to resume crypto ads again. If you guys do not see that this is a HUGE event, think again. more media coverage, more cryptocurrency ads, more interest.Google to follow this decision
Source - wsj.com/articles/facebook-to-accept-cryptocurrency-ads-again-1530051514
Note
Don’t be scared by price action, as mentioned, we still have week or two to see some actionNote
Pro traders can use this opportunity to shortLong term investors just hold
Short term investors should stay back
Medium term investors can invest with caution or wait for breakout first
Trade active
Active for above investorsNote
Support is around $5,900Note
yes, $6,100 support broke, but it did not demonstrate a firm break. If next 4H candle closes below $6,100 then we'll talkNote
Bears aree getting to Bitcoin, however still bullish in med termNote
If you guys see our charts as easy to read and understand it would be awesome for us if you smashed that LIKE button, that gives us huge support directly from you crypto maniacs! Make sure you're following us everywhere for up to date updates!Note
We are above $6,100 again. Short term looks bullish with medium risk.Note
When this blows up, there will be no stoppingNote
Just think of this as a massive accumulation stage for Bitcoin before it blows us all away with it's potential in terms of real life use and priceNote
We are starting to move up, short term investors go in with tight stop lossTrade active
Note
LIKE THIS CHART PLEASENote
Short term investors can out up risk minimizing stop loss around $6,050Higher risk stop loss is at $5,800
Note
Still above support line, veery nice movement with many bullish news accumulatingNote
Might go down a bit before bouncing up - no worriesNote
If you guys want us to do different crypto analysis, comment your coin down below and we'll choose a fewNote
We are in TOP AUTHORS of the day again! Thank you everyone for following us and our analysis!Note
To balance out bullish news, here’s some FUD for you guysArticle —> bitcoinist.com/bitcoin-on-a-one-way-street-going-down-says-futures-trader/
Note
This is a classic sideways movement. Short term target to break in order to continue on bull run is $6,500Note
bears are starting to lose this battle in medium term. short term can still bring us down, but definitely much positive then earlier this week.Note
Short term investors should not enter this trade for nowNote
Medium term investors should not sell. To minimize risk consider stop loss at $5,750 - $5,800Note
If you’re wondering what our personal view in current Bitcoin state, it’s bullush and positiveNote
Note
Support is still fine, but be careful if you're in it short termNote
This is a great bullish move. You can call it a pump but end result is 7% profit or recovery, which ever stage you're in currently.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.