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Bitcion

Beyond 9000$...Morning guys, So, yesterday setup is done perfect, market stands in few bucks from 9000$ major daily AB=CD target. But today we want to talk on medium-term perspective... what's next and what we see from recent price action. If we pay some attention to details then we could recognize strong bearish efforts. Indeed, as yesterday as two days ago - sell-off was so strong that BTC has paid no attention to Oversold condition (blue line is DiNapoli Oscillator Predictor, showing OS area). Combination of strong K-support area (despite it has been tested once earlier) and Oversold was not able to hold price and BTC has pressed it down anyway. The same story repeats yesterday. Depsite oversold BTC was tendning lower, showing tail close candles and coming to major target. Once AB=CD will be completed, we expect some retracement as usual. But when BTC calms down a bit and leave Oversold, we suspect that next 1.618 AB-CD extension appears on horizon. It is too strong downside pressure right above the major target. Very often it leads to downside continuation later. Besides, this continuaiton to major 5/8 Support around 7K area totally corresponds to our long-term view of major retracement. Thus, as soon as technical response on 9K target will be over, we keep door open for another leg down.
COINBASE:BTCUSD
by Sive-Morten
1
Upside chances increasesMorning folks, Last week we talked on two possible ways of major retracement - either in the shape of wide AB=CD pattern or extended H&S pattern. And we said - keep an eye on price action inside triangle. If BTC will not break it down, or stops downside action by some reason - be careful. It could be early signal of possible upside continuation. This has happened. Although it doesn't totally cancel AB=CD pattern down, making it a bit wider, but it definitely tells that BTC has no intention to go down right now. Here you could recognize some shape of reverse H&S pattern. It means that some upside leg should be formed, at least AB=CD, forming "222" Sell on daily. Ultimately BTC could continue upside action right to our major weekly target of 15.3K, forming butterfly "Sell" on daily chart. Currently we see that situation is not attractive for taking short position.
COINBASE:BTCUSD
by Sive-Morten
1
Bitcoin & Litecoin Key Dates + Fib Levels + Wild SpeculationChart includes real stuff + my dumb drawings. The Fib levels are what's important, but imagine an EW pattern or something, you get it. Don't think I believe the action will follow the path of my dumb drawings. This is a "what if" we get a similar ratio both in time and price to the previous two Bitcoin halvings. This includes the future ones too. So, if Bitcion extends to the 17.992 fib level again... 350K is the target based on the fib extension tool project if we bottomed, but even if we go to 1.K we are looking at that general area, it doesn't change much. Comparing price action, bitcoin looks different, in proceeding action, but both times price went up considerably post halving. I added the Litecoin comparison with dates of start + halvings including the 2019 one coming up. And my neat little drawing if it looks similar to the first one. Bitcoin did! Adding LTC helped with speculating too :) Biggest takeaway: If "BITCONE" goes to $350K by 2022, the world richest list will get some new peeps jumping in the mix. Even 30K BTC is $10.5 Billion... But then we will probably drop back to $30K or whatever, then speculate on some crazy number come the 2024 Halving. I think then, people will be trading individual Satoshi... but probably not. Price action will be wild though.
BNC:BLX
by measax
2
Momentum upside swing is still possible to 9040-9400 areaMorning guys, Just brief update on current situation. Last time we said, that BTC should turn to major retracement somewhere from 9040-9400 area - and we still keep this view. So it is not time yet to go short. Currently, price action reminds bullish flag and shows definite features of retracement action. Upside action to 1.27 butterfly target was fast, and daily XOP for a few bucks, but still has not been totall completed. This lets us to suggest another upside leg, let's call it as "last one", just due existed strong upside bullish momentum. By this action market should step in our so-called "reversal area". Thus, upside continuation should follow either right from here or, at least from 8040-8050 level. It means, that trade under consideration is "Long", with target inside 9040-9400 (tell the target with more precision later) with stops below 8000 area...
COINBASE:BTCUSDLong
by Sive-Morten
1
BTC steps in target rangeMorning guys, Our upside setup has done well. Daily 9042 XOP target is not completed totally yet, but we could say that mostly it does. Now we have some issues that makes the background for our trading plan. 1. On weekly chart, we've got bullish reversal swing. At the same time, previous bearish momentum is strong and it should trigger moderate retracement sooner rather than later. 2. On daily chart market is overbought and steps in our target range. 3. Now we have completed 1.27 butterfly on 4H chart. But, as upside action to the target was strong, we do not totally deny chances on 1.618 continuation to 9500 area. Taking it all together makes us think that BTC comes to the moment when major retracement should start. Reversal should happen in 9050-9500 area. Since we have a butterfly pattern, chances on H&S appearing looks significant. Now we point as target "floor" 9050$ area and "target ceil" 9500$. It's time to think about profit taking (at least on part of the position) and tight stop on the rest.
COINBASE:BTCUSD
by Sive-Morten
Either directly to 9040 or 7260 firstMorning guys, Our yesterday setup with "222" Buy has done perfect, but today we want to warn you about tricky moment on BTC. Although it makes no impact on the final target, but it suggest two scenarios on how BTC will reach it. First scenario is simple - streightforward action up, right to the traget. IT is no questions with this scenario - just keep position that you've taken yesterday. Second scenario - appearing of butterfly "sell" pattern that should finalize upside action to 9040 target. This scenario you can see on the chart. In this case, we suggest that deeper AB=CD retracement down, somewhere to 7260 5/8 Fib support should happen first (it also gives us '222" Buy inside the butterfly), and only after that action to 9040 will start. How we could trade this. If you already have bullish position - take profit on 50% and move stops to breakeven on the rest. If you do not have any position but want to buy - wait either for drop to 7260 or, if it will not happen - you stop"buy" order on upside breakout of the 8300$ tops.
COINBASE:BTCUSD
by Sive-Morten
Double way to go longMorning guys, In last three sessions BTC is coiling around the top, keeping bullish sentiment intact. Still, price is strongly overbought on daily chart and it needs some relief, either in a way of flat consolidation or in way of slightly deeper retacement. On 4H chart we have minor bearish sign - Wash and rinse of previous top, which could lead to appearing of minor double top pattern here and slightly deeper retracement, some where to 7000-7200 area. Thus, for long entry we need to keep an eye on two things - either deeper retracement with the pattern, or upside breakout of recent top. Entry technique also should be different. It is simple entry on downside retracement, but to take the position on upside breakout it would be better to use stop entry order. The one thing that you need to control - daily overbought. Do not bet on upside breakout by using stop entry order, if BTC is still overbought on daily chart...
COINBASE:BTCUSD
by Sive-Morten
Reaction on 5840 area has started. Deeper retracement under way.Morning guys, So, it seems that we were correct on our call to be careful around 5840$ area. In fact, this could be 3-Drive "sell" pattern. On intraday charts it looks more bright. In two words speaking - bulls' failure to push price through recent tops means that they are trapped in wrong direction with stops below recent lows, where majority of traders have taken long positions. On 4H chart we have Double Repo "Sell" pattern which suggests deeper retracement. Once stops will be triggered, BTC could drop more, to 5/8 Fib support or even lower. We do no exclude to see 5200$ area. Ultimately, 3-Drive idea on daily chart suggests drop below lows between 2nd and 3rd drives. So, those who want to go long - dont' be hasty with this, and wait for ending of retracement and appearing of bullish patterns, such as "222" Buy.
COINBASE:BTCUSDShort
by Sive-Morten
Can Bitcoin Move Straight To The ~$6200 Resistance Zone? (3 ScenWe have three peaks, higher highs, great strength and bullishness with Bitcoin (BTCUSD) trading daily above EMA10. And as we always says, our bullish potential remains as longs as the candles are trading above this indicator. Now, can Bitcoin drop before hitting the $6000-$6200 resistance zone? We are looking mainly at two different scenarios, and a third one, they go as follow: 1) One last impulse to end the high volume trading weekend to start a retrace before any additional bullish; to gain more strength until the next jump. 2) Retrace now to try again with more force. 3) The third scenario would be to see Bitcoin dropping followed by a little sideways and then drops some more, just to them gives us a great impulse that can take us to $6,000USD plus. Which one is your take for the weeks to come? Share your thoughts in the comments section below... Namaste.
BITMEX:BTCUSD.P
by AlanSantana
15
Ripple Takes the Cake (We Go UP!)Aloha, trader. Welcome back to another trade analysis. Today we will be analyzing the crypto market once again. Ripple has exploded with nice volume this morning while most other cryptocurrencies have remained somewhat boring. Ripple is the coin to watch at the moment for short term movements, but we hold that Ethereum and Litecoin will prevail in mid term. Getting back to XRP, we bought in at 0.00008037, noticing its strong upward movement, but it's not too late to profit. With such strong volume and movement, I predict Ripple to build its way up to at least 0.00008300 by the end of tomorrow. Watch for pullbacks. The MACD and bullish momentum will likely continue Ripple's upward movement, but pullbacks are practically guaranteed at this point. Set your profit limit and stick to it. For the time being, we are holding our long position on XRPH19 with 10X leverage on BitMEX. Thanks for reading, leave a like if you agree!
XLong
by nextrades
Wait for right arm and up...Morning guys, So, upstep is done - market shows upside bounce from our anticipated 3500 level, which is suggested by daily H&S shape. Now BTC has only one legal road - up. Illegal reversal will mean H&S failure which suggests drop below the 3000$ Head level. Now time has come for our "conservative" tactics, if you were scared a bit to buy right at the daily right arm bottom. Here, on 1H chart, market has formed upside reversal swing after butterfly has been formed. It means that deep retracement should follow and, here, we also could get minor reverse H&S pattern. I draw it as a combination of butterfly and "222" here. 5/8 Fib support stands around 3750$ level. This is potential entry area for those who would like to buy (against 3550$ lows). Potential target, as we've mentioned before daily AB=CD, based on H&S. Reverse down and breaking of 3550 lows will be early sign of collapse and drop below 3000$. Detailed video with all time frames analysis on our website (link at signature below), no advertisement or cross-links, as usual. pure analysis. Good luck.
COINBASE:BTCUSDLong
by Sive-Morten