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BTC:USD 1 hour chart DAILY UPDATE (day 24)Yesterday I called for a drawdown to $7,750 and I did not expect many buyers to be waiting under $8,000 this time around. The next area of support that I am watching is $6,750. That would be the fourth touch on the longer term bull trend (green line). To my surprise we dipped below $8,000 and appear to be building support. The battle this weekend will be between the horizontal support (black) and shorter term trend resistance (red dotted). Currently the horizontal support appears to be winning. As the price resists the bear trend (red dotted) it continues to support above $7,750. That is causing the price to range in between $7,750 and $8,450. If it keeps moving sideways then it will smash right through the shorter term bear trend (red dotted) and likely make a move to test the longer term bear trend (solid red). Happy Trading!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 23)Yesterday i was expecting the draw down to break through support and fall to $6,750. I entered a short and was stopped out this morning. After re evaluating the support/resistance, I really wish I would have given that trade slightly more wiggle room. We are currently testing strong resistance, which is coming from a new potential trend (red dotted line) and the established horizontal line. Coupled with the wicks on top of the previous few candles, I expect us to be heading back down soon. Since my previous short was stopped out I will be sitting on the sidelines. Happy Trading!
BITSTAMP:BTCUSDShort
by Sawcruhteez
2
BTC:USD 1 hour chart DAILY UPDATEYesterday I remained bearish, but expected a small rally to re test the 200 day SMA. We broke down well before that and the bearish momentum continues to build. The last couple candles indicate to me that we will be heading back down soon. The next area of support should be $7,735 - $7,750 which is where the profit target would be for a short position. Stop loss would be set slightly above $8,400. My stack is currently tied up in another position. Happy Trading!
BITSTAMP:BTCUSDShort
by Sawcruhteez
EURJPY: Support & Bat PatternThe EURJPY moves sideways last few days and this creates good opportunities for harmonic pattern traders. The market is going down today and if it continues and touches the support area at 130.64, there will be a setup for long. The price respected that level multiples times already and it is more likely it will do it again. The buying orders are usually placed at key areas and I assume there will be enough orders to push the price up. Moreover, there is a potential bat pattern formation, which will increase the probability of this trading setup. I will patiently wait the market to touch my entry level and then make a buy order. T1- 38.2% T2 – 61.8%
by Art_of_Trading
BTC:USD 1 hour chart DAILY UPDATE (day 18)Yesterday I thought we were headed for an $8,400 retest and I had low hopes that support would hold. To my surprise we got a nice bounce and are heading for a $9,400 retest. I expect strong resistance to be waiting based off of the volume we saw last time BTC was at that level (two arrows). Watch for a pullback at $9,400 - $9,500. If that pullback supports over $9,100 then it could form a nice cup & handle. However, I am staying on the sidelines and would be very weary about going long here. I would also recommend keeping an eye on the charts with longer time frames and remember that this recent rally could be nothing more than a short squeeze. Happy trading and remember that following is free!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 17)Yesterday I predicted that we would range from $9,600 to $10,000 over the weekend. Now it looks like we are headed for a $8,400 retest. Since the price already tested that area as support twice I am not confident we will get another bounce. If price breaks down below $8,300 then $7,850 would be the next area of support. The bearish signs are really starting to add up. I will remain on the sidelines and wait for further confirmation. Happy trading and remember that following is free!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 16)I started this specifically for days like today. This is a way to keep myself engage when I have no idea what is going on with the market. I made a commitment to do my best to make a prediction even when I didn't have much to go off. Just keep that in mind! Yesterday I was looking at a diamond bottom forming and went long at $9,800. That was quickly stopped out and I turned fully bearish once we dipped below $8,000. I drew some preliminary trend lines for the bears (dotted red) that I was keeping an eye on. After golfing today I was very happy to see that the bulls pushed the price through the upper level of that trend. We are now testing horizontal resistance. This is not a spot to go long...sell resistance and buy support! On the other hand I also wouldn't short this rally either. We are looking at a double bottom, then a higher low, followed by a higher high. The 12 & 26 EMA's appear to be crossing right now. That is important because it is the default on GDAX and seems to be what a lot of traders use. My prediction is a quick rally to $10,000 and then we range over the weekend from $9,400 - $10,000. I am no longer bearish and have shifted to neutral. I will be sitting on the sidelines until I can be more confident one way or another. Happy Trading!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 15)Yesterday I did not like the death cross on the 50/200 day SMA's and how hard we got rejected from the longer term bear trend. I was so frustrated that I said I would not enter another long until we broke that trend. This morning I woke up to a beautiful diamond bottom pattern, which just so happens to be my favorite reversal pattern. After a cup of coffee and giving it some thought I decided to jump back in. Seize the day and all that shit. Stop loss is set at $9,500. At a minimum I am expecting us to retest $10,400. If there is enough volume on the buy side then I will be letting this one ride with a trailing stop loss set $200 behind.
BITSTAMP:BTCUSDLong
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 14)Yesterday I was looking for BTC to build support off of the blue dotted line and break the bear trend. This morning I was stopped out for the second trade in a row and will be sitting on the sidelines for the time being. The death cross on the 50/200 SMA does not look good. Bitmex going down could have led to an abnormal amount of liquidations. Maybe this is the dip we need before really taking off. There is currently a nice hammer doji at support and I expect a bounce from to to retest $10,000 - $10,400. If we resist then I will turn bearish and look for a short. I will not enter another long position until we break the bear trend. Happy trading and remember that following is free!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 13)On 3/2 I drew the last arrow from $11,000 to $11,750. Unfortunately we came up just short with $11,676 being the local top. Within 6 hours the price fell all the way back to the original entry of $11,000. This illustrates why it is so important to actively manage your trades. Buying Bitcoin before it goes up is the easiest part of trading! The trailing stop was set at $11,375 because that was just below support. If that fell it was highly likely we were coming back further. Always happy when capitalizing on profit, but it sure would have been sweet to nail the top. The price pullback hard and fast last night. I liked the doji’s forming at $11,275 ‘support’ and was very happy about maxing out my position. I was very confident that pullback was simply the ‘shakeout before the breakout’. These last few days have seen significantly more margin trading than spot trading. I was expected a long squeeze before liftoff. Since the price got so close to the resistance of $11,750 on the previous run, I expected us to blast through it on the following pump. The target was set at $12,500. To my dismay the stop loss was triggered shortly thereafter. Right now we appear to be building support off of the 200 day SMA and above the prior $10,750 support cluster. I drew a dotted blue line which I am watching closely for new trend support. I also still believe my original theory about the long squeeze could be in play and I am building another position between $10,800 - $10,900. Stop loss is set at $10,740 and profit target is tentatively set at $12,500. There is a possibility I will decide to take profit early if I don’t see enough volume on the breakout. One last thing I will be watching if for us to break the top end of the bear channel broke on both log and linear charts. If that doesn't break this week then we could be looking at a long term bear trend. Happy trading and remember that following is free!
BITSTAMP:BTCUSDLong
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATEYesterday I was holding onto my long position with a price target of $11,750. On Saturday I mentioned that I was inclined to think that we would range over the weekend and most likely hit my price target on Monday. Everything is still right on track and I expect us to pump to $11,750 somewhere in the next 4-6 hours. If you are not in a position then the long entry is under $11,500. Stop loss would be $11,399 and the same profit target. Happy Trading and don't remember that following is free!
BITSTAMP:BTCUSDLong
by Sawcruhteez
2
BTC:USD 1 hour chart DAILY UPDATE (Day 11)Yesterday I expected the rally to continue to $11,750 before pulling back. Instead we were met with resistance at $11,500. The good news is that we appear to be turning previous resistance into support at $11,100. The bad news is that the 50 day SMA is forming resistance. I will remain short term bullish as long as the bulls continue to hold strong at $11,100. I am still holding onto my position from $10,940 with a $11,750 price target. If you are not in a position then under $11,150 is the entry with the stop loss set at $10,950. There is currently a doji forming at support and if that holds then it is a good confirmation for reversal. Happy trading and remember that following is free!
BITSTAMP:BTCUSDLong
by Sawcruhteez
3
eurusdPrice testing longer term trendline... also the 1.23 handle, and the highs from jan15 & jan19. Will be interesting to see if the trendline holds. Reward to risk is good at this level, ultimately aiming for the 1.25 area & 1.2550 highs and taking some off the table along the way in to the 1.24's. Intraday price is holding the s1 level so far, connecting the highs there is an intraday trendline (blue line) which if price could break above would be bullish sign. If long term trendline breaks will be good enough confirmation of a trend change at least in the short term.
Long
by alexc91
TRX/BTC Buy Opportunity, Please Read firstYesterday we gave TRX holders the chance to sell and buy back cheaper. Today we are looking to buy this pair and make a quick profit on the 60 Minute chart. TRX/BTC has been falling for some time and has recently put in a Higher High (Circled in Red HH), and potentially a Higher Low (Circled in Red HL). We are seeing price pulling back from the high and bouncing off 0.00000476 support and the 20ema on the 60 minute chart. If the current bar closes above the resistance at 0.00000491, I will buy the top of the bar and go long. ENTRY: above this bar if closes above 0.00000491 Stop Loss: 0.00000470 Target 1: The 200ema. Trail Stop Loss up For you to make Dollars your decisions need to make sense. This is a 60 minute chart trade. These trades are high risk, high reward. Please check this trade is right for you.
by DollarsAndSense
2