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BTC - Momentum is there but it need more to break the resistanceBTC Daily analysis: BTC is out of red cloud and is facing trendline resistance at current price. It happens to be at upper band of bollinger band. It might take support at 8800 which is the trendline support, EMA 20 support as well as possible RSI support. Actually all this barely matters if we consider upside trend, excitement about BTC halving, good volume in the market. This all is making everyone guessing for what will happen next. Lets see. I am biased towards upside than downside.
COINBASE:BTCUSDLong
by bloke_capital
6850$ to consider long entryMorning guys, As we've suggested upside bounce from 3/8 support was really great, and there was minor reverse H&S formed but it has not turned to real upside continuation, as price of BTC has dropped back to the level. It makes us think that we would better to consider for long entry Agreement of AB-CD target and major 5/8 support at 6850-6900$ area. This level, by the way could become the right bottom of daily reverse H&S pattern. Also we keep our experiment with Hash Ribbon Indicator that shows mining capitulation periods based on Hash rate level. Today it gives "buy" signal. You can see it in our video on FPA website. If our suggestion is correct, then downside AB-CD action should give us "222" Buy pattern on daily as well.
COINBASE:BTCUSD
by Sive-Morten
2
RACEACEACE BTCUSD BITCOIN: give it up?My message to all of you: get some rest please. The price is crunching up towards 7400 (the 8/1 Gann fan line from the recent pivot high). Upon reaching this line, it shall attempt to break above it - in my experience, it most often breaks above and then rejects downwards. This is not a time for one to long or short. THE BEST PLAY: a move above this 8/1 Gann fan line and failure to establish it as support on a retest, would send it lower and be a good short opportunity. Please note: the price is now below the red 2/1 of the Gann Fan from the pivot low. Once it is below the red 2/1, longing is a suicide mission. There will be easier and smoother trades, if you just have the self-respect and patience to wait. There is no guarantee that the price will reach the 8/1 Gann fan line from that pivot high, so if you long, it is likely to dump on you without notice as it is below the red 2/1 of the pivot low, which is a very bearish indication. This is the time for one to take a seat, and let everyone else sweat. Come back to the market when there are better fluctuations in price. Lower timeframes are 100% chop zone. Enjoy the weekend and take the wife shopping. We come back next week and make big money on in and out scalps. I will be taking the weekend off and flying to Switzerland - and getting away form all the dummies making noise. Wise up folks. Just preaching some common sense. Happy holidays!
COINBASE:BTCUSD
by DealerBTC
Bitcoin: CUP AND HANDLE Hello and good day to you dear traders! First of all, Thank you for all the messages, for the feedback and the kind words. I adjusted the microphone level, please let me know if this is better than before :-) Today I want to share the CUP & HANDLE formation. There are two patterns in this world which are existent. 1. The CONTINUATION pattern, which shows us the continuation of a trend or 2. REVERSAL pattern, which show a possible change of a trend (f.e. Cup&Handle, Head & Shoulders, Double Top and so on...) Please let me know if you like the content, I really appreciate each of your private and public comments, I improve from that in addition I know I should continue with this videos (since I am very new to this). Make sure to hit the subs/like button, if you like the content. And as always, have a nice day & Happy Trading, your quality-trader
BITMEX:BTCUSD.PLong
by GER-Quality-Trades
5
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
Bitcoin explained, when will the buyers step inThis week we've gone from 12k to 10k, bitcoin got dumped hard with no relief bounces at all. Which arises the question; we're are the damn buyers?? Lets begin with the rally from 9.4K we double bottomed and got an Adam & Eve pattern. The pattern with a neckline at 11K gave us a upward rally with prox. target of 12.8K. We came far but never made it there. Reasons we have not made it there are trendline of previous tops, although we had some fakouts above it we never had consecutive closes above the trendline. Other reason is tons and tons of sell orders at 12.2-12K, might have to do something with the selling of the PLUS token scheme, that are still rumors though but be aware. For now we can assume 12K will be the strongest resistence in our way to 13.8K. Although this rally did not make new highs we saw the volume picking up again after the bottom at 9.4K which is ussually a good sign. Alright now lets look at the possible future of btc. This downward rally has just been one big dump, we did not react to any MA, EMA, Neckline or Trendline. The only thing we saw was short sideways movement with a pattern forming, either a channel (bear flag) or a sym. triangle all of them have broken downside... Since we have not seen any buyers step in or any big green candle reaction from a level we have no reason to beleive this downtrend is totally over. But this does not mean we should sell or short here. With the 4h Rsi at 16 = very very oversold, 1h Rsi diverging, we should expect a bottom structure to setup. Buying or longing when a bottom forms have a higher probabillity rate right now, it does mean counter trading the market but in this case that option is safer. Here is why; -first we have not seen any liquidation runs, no short liq. yet very suprising that the market makers are just letting the late short sellers live this is not normal for bitcoin, it means we are looking for a move up to liq. the lev. 50x and even 25x short sellers. -We are approaching support zone at 10-9.8K -Fear/greed indicator is at freaking 11 Fear, always countertrade the fear. -100MA Daily approaching, at 9700 right now.
COINBASE:BTCUSDLong
by DemKos
Diamond Top followed by smaller continuation diamondlookin' like we have hit our smaller continuation diamond target but not yet reached the 10.6k range to hit our larger diamond top target yet. We can see price is currently finding support exactly on the 2hr 200ma. Recently had a 1hr deathcross and that coupled with the ETF delay FUD is probably just enough of an excuse to send prices back down...our 3 day 50ma is currently sitting right around 8k and climbing fast so if gapboys are gonna hav their drams of he 8.5k gap getting filled this is one of the last time windows to pull i off considering that the 3 day 50ma tends to be massively reliable support during bull markets and price is highly unlikely to close a candle below it. Only way I could see bc closing a candle below the 3 day 50ma a his point and/or flipping it to solidified resistance is if the bull market is already over which is highly highly unlikely but not impossible, if that's he case then all the elliot wave doomboys may actually be right but for now I doubt it
COINBASE:BTCUSDShort
by DrDovetail
BTC/USD Forecast BTC has been performing well and my previous trade recommendation to buy the breakout has yielded ~20% profit. Now as we are approaching a possible point of resistance the questions is to take profits/short to the bottom of this wedge or to sit on the position. General trading logic would have us go short with stops just above the resistance line, however, there are a few things to take into account that bolster a bullish case for BTC. 1. We are once again trading well above all key moving averages. The period spent below the moving averages was short and showed a quick recovery. This is a strong bullish indicator. 2. The daily RSI is still not considered overbought (by BTC standards). We are sitting just bellow 65, which may be considered slightly high, however when BTC picks up speed it routinely posts daily RSI reading in the 90 region. This indicates that the rally may still have room to go. 3. Lately, the current political/financial atmosphere is looking bleak. There have been further escalations in the US/China trade war, a Brexit deal is looking ever less likely which threatens the GBP, the Chinese Yuan becoming ever more devalued, along with countless other factors that could attribute to an economic rescission. During all this, there have been two assets that have outperformed the rest, Gold and Bitcoin. Gold has forever been a trusted store of value and hedge against faltering economies. It now looks that Bitcoin is emerging to fit a similar use case. Today the stock market is a sea of red and Gold is up 1.5% and BTC is up 8-10%. Given these factors, I am very bullish on BTC for the coming months. And if the resistance line is broken I am confident we will see 15k by the end of this week. Like comment and subscribe!! Whats your opinion on Bitcoins next move??
by HyptoCrypto234
1
CGC Stock Price Analysis: Chart Annotation for Traders.Conclusion of today’s CGC (Canopy Growth Corporation) analysis: Price closing below ~35.45 or 24.78 implies lower prices in Canopy stock price. The purpose of today’s CGC stock analysis is to inspect the different chart patterns that can be identified in CGC (Canopy Growth Corporation) and their implication(s). Use of a logarithmic scale of the Daily timeframe reveals two (2) chart patterns which will be further discussed below. A rising wedge (diagonal) in CGC is established by drawing a line across price peaks and also price lows with the most recent pivot used occurring between December 21, 2018 and January 2, 2019. The ideal implication of the pattern is bearish, therefore indicating lower prices ahead. The second pattern up for consideration is the descending triangle chart pattern, which is also ideally bearish. The top boundary is established using price highs in October of 2018, February of 2019, and March 2019. The lower boundary of the pattern is the horizontal line price level at 24.78. It is important to note that the aforementioned price level also is the upper boundary of immediate support region anticipated in Canopy stock price upon a breakout below its wedge and 19.53 represents the lower support boundary. A close below ~35.45 will confirm the wedge, whereas a close below 24.78 confirms the descending triangle. The ideal scenario for both patterns as mentioned above is bearish, but that does not happen all the time. A great tip for using chart patterns is to carry out momentum studies, which can be highly invaluable in helping to guide trading decisions using chart patterns
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by Coin_Analyst