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Bicoin

BTFD Bitcoin?BITSTAMP:BTCUSD dipped 17% over the last few hours. A lot of people are seeing this as a buying opportunity... but is it? Rather than make all kinds of bullish cases based on speculation that the US dollar is being inflated away to nothing, that Bitcoin is going to be the ONLY thing worth any value in 100 years, or other such cool stories bro... I want to show my viewers what REAL DATA to consider in gauging the current state of the market, its structure, and psychology.
BITFINEX:BTCUSDEducation
by norok
7
The bearish perspective for bitcoinHello fellas, welcome back with me in this podcast once again in this beautiful day. I will try to cover today's technical analysis with a very detail technical analysis which I believe it could be useful to you. Let's get it started! So, talking again with the 3 phases of break out strategy that is becoming one of my favorite strategy which I always mention over and over again. Current bitcoin's chart will be a very good example of how the trend line gives a significant effect of the price of an instrument. We can see in this chart that the current action for bitcoin is at the phase 2 of break out strategy. It can be applied to 2 different line and zone. Both areas can be used as well for analyzing this strategy. The first level is the white support trend line, we can easily deduce a broke down of this trend line has already occured since the September 23rd, 2019. And after that the price kept moving down and had the consolidation action at around $8000 region before a huge manipulation occured at October 25th and 26th. With an 11% rejection toward this resistance at October 26th , it becomes more logic to me that this is just the action of retesting and NOT THE NEXT BULL RALLY. The 2nd level is the white zone around $9500 - $9400 which has held the price as a horizontal support zone since the parabolic run has over. It was broken down by the price on September 24th. Once again, since the broken down occur, we haven't seen any retesting action toward this region again. And at October 25th and 26th artificial pump, the price surge above this region. But, on daily basis, it only produced a wick to the upside and the next day's candle was super tricky. Right now it is trending just below this resistance zone which for me, making the bitcoin still moving in an absolute bearish momentum. My conclusion is that bitcoin has a possibility to surge one more time to tap the white resistance trend line, before it will continue its bearish movement to the down side. I personally don't think that bitcoin can break the 2 resistance zone that I've been mentioned in this previous paragraph. So, My view still bearish overall and Be aware of the possible manipulation on the market.
BITFINEX:BTCUSDEducation
by julio24albert
BTC : Trend line and key levelsHello fellas, Let's we start about the analysis podcast about bitcoin which is very important right now. so, sit tight and read this analysis carefully. This is the weekly chart. And just like the title of this current article, we will discuss about the key levels and trend line on bitcoin. Let's make trend line at the first topic to discuss in this first paragraph. Connecting the high of the December 27th candle and the high of April 8th candle will produce an extended trend line that is now acting as a support trend line. Like what I've always said, even we have broken out of previous resistance trend line, in the future there will be an action to retest again the previous resistance trend line to become a support and vice versa. Currently, we see it clearly occur on current bitcoin's chart. And what's make it more interesting is the trend line is moving align with the golden pocket zone which act as a support too. With those facts above, we clearly see current support trend line is very significant on current bitcoin's movement. And to anticipate the wick fishing region, I will give the 78.6% fib level as a perfect label for wick fishing region. This is make sense to me, if we see back at 2017 and 2018 which most of the investment instrument had a bounce right after they corrected the major trend at around 78.6% region. Beside it, if we look back at the historical data, we can easily see the $6000 - $5000 region was a really strong support during the 2018 consolidation market. On every trade, it is important to anticipate the wick fishing region. because there will be a room for liquidation on short or long before it is going to claim the real major trend.
BITFINEX:BTCUSDEducation
by julio24albert