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Bitcoin, The Triangle Below 10K Is Coming To A Final Conclusion!Hello, Traders Investors And Community, welcome to this update analysis where we will illuminate recent events, the current price-structure and what we can expect from bitcoin the next days, hours and weeks to handle the situation accordingly with the given opportunities and profits arising out of it. Bitcoin is now consolidating overall 50 days which I predicted in the previous analysis will bitcoin either do below the 10.000 or confirm it as resistance and visit lower levels before another test can even be in the possible spectrum. As this triangle will come to an end at the final execution day the 14th august there are some important details I detected which can have an effect on bitcoins final determination. If you did not saw the initial analysis according to the subject I highly recommend you to do it to have a full-depth-overview therefore we are looking at the daily timeframe. As you can examine when looking at my chart is that bitcoin is still trading in this huge and wide triangle below the 10.000 USD mark, the length, and diminishing volatility can be a successful indication for a breakout confirming the proper outcome in bitcoins price-action. Now the big question will be in which direction the breakout happens and if the breakout is sustainable or just a huge trap. In these cases, there are some certain aspects which need to be confirmed to provide the given outcome as fully confirmed. As bitcoin is still below the 10.000 marks we can expect it to continue till a final direction shows up. Initial Analysis According The Subject (Daily Timeframe): When considering the possibilities of a bullish or bearish breakout we have the important 10.000 USD mark at the bearish side which is blocking the way for the bulls and is still an important and meaningful resistance that should not be ignored. On the bullish side, we have bitcoin still trading above the 200 and 55-EMA which need to hold to establish the further trend and a possible breakout to the upside. The structure is an overall clash of bulls and bears and after the final confirmation has come the triangle can still either break to the up or downside. When considering the bullish breakout bitcoin needs to confirm sustainable above the 10600 marks to confirm the bullish case, remember that this breakout needs to fulfill with the proper volatility otherwise it can still be a huge bull-trap, on the bearish side bitcoin will confirm to the downside with a clear break of the uptrend line and confirmation below the 55-EMA. The final confirmation will show bitcoin destination that will affect the price for the next months and weeks to come, whatever will happen there is a given fact that when bitcoin breaks to the upside there are some good support zones in the structure which can be confirmed as those also these support-zones matching with the still remaining huge triangle bitcoin currently trades, in this case, the bearish breakdown can be just a correction before consolidating more or setting up for some legs to the upside. Remember that this has to be confirmed and firstly the trend will be to the downside when bitcoin confirms, therefore, there should show some reversal signs up otherwise the trend will remain to the downside. Whatever happens, traders should be prepared for the upcoming possible scenario to handle the situation accordingly and profit out of occasions rising out of it in order to succeed in fate. In this manner, thank you for watching, support for more market insights, good day everybody, and all the best my friends. The high destiny of the market is to examine rather than to hypothesize. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
30
Here Is Why BITCOIN Is Setting Up For A Substantial BIG MOVE! Hello Traders Investors And Community, welcome to this update-analysis where we are looking at recent events, the current price-structure, and what we can expect from bitcoin the next days and hours. Bitcoin is currently trading at highly diminished volatility such a situation can indicate a volatile move sooner or later as these low-volatility do not hold forever as history has shown in bitcoin. The big question will be now if the volatility will show up either on the bullish or bearish side to trade long or short. As bitcoin has still a possible bullish formation on the short-term but on the other side sending some important bearish signals in the resistance I detected some meaningful signs which will determine the further outcome of bitcoin price-value therefore we are looking at the 4-hour locally timeframe. Bitcoin is trading at an 50 old day mirroring level as you can watch it marked in my chart in blue, this important mirroring level currently serves as support which is holding the consolidation above but as bitcoin severely tested this mirroring level it gets weaker and weaker the more often bitcoin touches this level. Therefore it is from high importance to hold this level and bounce up from there to confirm to the upside when this does not happen and bitcoin falls below this significant mirroring level there is a high probability given that bitcoin continues bearish to the downside. As counting these factors together there are two scenarios coming up in front of us, each scenario can be traded rightly after the proper confirmation either with a conservative entry or with a aggressive entry. Bullish Scenario (4-Hour Timeframe): Bearish Scenario (4-Hour Timeframe): Looking at the situation as we currently have it we can examine a slight advantage for the bulls as bitcoin is still trading in a higher possible descending triangle I already pointed out in past analysis which I recommend to you if you didn't saw it already to have a full-depth-overview. What is fact is that after such consolidation and low-volatile period comes and a period where the asset will show up more volatility and therefore decent opportunities to trade, in this case, it is important to keep a logical head and don't fall for the illogical speculative trap happening too often these times where people calling the moon in under two days as it is often a matter of confirmation where the price is heading this should be the reasoning approach for a smart trader in the market to accomplish out of the possible opportunities arising. In this manner, thank you everybody for watching, good weekend, support for more market insights, and all the best my friends! Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
13
So Far Is Bitcoin Following The Accumulation-Schematic-Channels!Hello, Traders Investors And Community, welcome to this update-analysis where we are looking at the current fundamental underlying price-cycles within bitcoins global perspective and what we can expect the next weeks and months. As bitcoin is still consolidating below huge resistance-levels and it seems like it is not going anywhere there are important factors in the structure that we need to take into consideration before placing a trade either in the bullish or bearish direction with the given possibilities. The whole cryptocurrency-space is either in such a local consolidation or in a more bearish state with serious signs for a possible bearish breakdown. So far is bitcoin following the accumulation-schematic-channels established with the accumulation-phases within them on the weekly-timeframe in the past which I detected and need to be considered in the further outcomes we can expect bitcoin to establish in destiny. When examining the huge cyclical movement bitcoin is trading in you can see marked in my chart with the upper global-contraction-line and the lower accumulation channels we can state that bitcoin is currently still trading within the second accumulation channel which is on the one side a good sign that can indicate a break to the upside and a expansion-phase similar to these seen in the past where bitcoin made a significant increase in price after confirming the second accumulation-channel to the upside. On the other side, it can indicate that bitcoin is not ready to provide this confirmation and that the consolidation in which bitcoin is currently can hold on longer or even provide some more lower highs or lower lows in the structure this is a mechanism that should definitely be kept in mind because there are still strong levels of resistance in the second accumulation channel. A clearer outlook will be provided from bitcoin when we see a definite break of one of the support/resistance levels with the ongoing and logical continuation of these levels. On the bullish side, it is the break of the 10850 level which you can see marked in my chart where we have three layers of resistance together building a triangular resistance-confluence-zone therefore when we take out this resistance it will be a serious bullish signal contemplating that bitcoin can move on to form its expansion phase to test the higher boundary of the global-contraction-line, before that sign is not given on the bullish side and bitcoin shows weakness in the second accumulation-channel it can still retest the first accumulation-channel which was a mechanism seen in the past but this channel must definitely held otherwise bitcoin will show increasing bullish pressure with a fall below the lower boundary of the first accumulation channel. The current situation is a situation where bitcoin and the whole other cryptocurrency-market-landscape has to confirm its further outcome and show if the bullish growth seen developed the last weeks can hold, increase and convert into a solid expansion phase similar to what we have seen in the past or if bitcoin and other cryptocurrencies lying ground to cruise an honor-round with a test of the remaining support and accumulation levels. In either case, we should be prepared for the upcoming scenarios that we don't stand in front of a volatile situation and don't know how to handle it, therefore it is important to consider the market in the clearest light as possible to take the proper action out of opportunities arising. Currently, there is not much volatility in the market and therefore a marginal environment to trade on the higher timeframes, in this case, we should trade the lower timeframes or keep patients to upcoming volatility. In this manner, thank you for watching, support for more market insight, and all the best! Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
34
Bitcoin, Prospective Triangle, Key-Determination When Confirmed!Hello, Traders Investors And Community, welcome to this update-analysis about the recent events, the current price-formation and what we can learn and expect from it the next days and hours. Since we got this high volatile move to the upside the last times the overall market condition has altered on the short-term and when this goes long enough it alters also on the middle and possibly in the long-term. In my observations, I detected some important and significant signals that can determine the further price-movement and which are worthful to look at the moment to profit out of possible opportunities arising out of it therefore we are looking at the local 4-hour timeframe. When looking at my chart you can examine that bitcoin is building two descending trendlines here which are marked in blue, together these trendlines building a descending triangle formation which is in the very much occasions a bullish reversal formation marking the stopping of the prior established downtrend, however, to succeed with this formation and complete it sustainable there are some technical tasks which need to be fulfilled in order to have the upside targets activated resulting out of the triangle and don't deactivate the triangle to the downside which can happen when other technical factors playing into the situation such as an exaggerated supply-increase. As bitcoin touched the higher resistance and confirmed it we can highly possibly expect minimum a correction to the downside before considering the breakout-scenario on the upside. In this case, we have the first important support-level at the 9180 support you can see marked in my chart with the first arrow, when this level does not hold we have the next critical support at the 8990 levels which is also matching coherently with the 400-EMA you can see marked in orange, these levels are of high importance for bitcoin to hold, establish as solid support and in the continuation bounce up from there because when this does not happen and we just get marginal upside bounces in this area it can provide more bearish pressure which will increase when the 400-EMA as important support is crossed definitely to the downside. Considering the support is holding properly and bitcoin manages to provide the bullish breakout within the schedule it can confirm above the upper boundary and therefore activate the upside targets fully in advance, this target is the overall level at 10120 where we have still an important resistance which is the psychological 10.000 USD resistance mark. After the triangle scenario has confirmed properly we can either expect a confirmation of the upper boundary immediately after the breakout or after some time has passed and bitcoin advances higher as you see in my chart. It will be interesting to watch how this possible scenario plays out and how we can profit out of the occasions arising within it. In this manner, thank you for watching, support for more market insight, good day, and all the best! Even the smallest shift in perspective can bring about the greatest prosperity. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
34
Bitcoin, Targets Riched In Schedule, Testing Remaining Levels! Hello, Traders Investors And Community, welcome to this update-analysis where we are looking at the recent events, the current price-structure and what we can expect the next time. As I mentioned in past analysis bitcoin has confirmed the bear-flag to the downside and riched its target mentioned at the 8900 level this was a good opportunity for us in the elite channel to enter a long-position after bitcoin bounced at the bear-flag-target, so far the targets riched and we are in good profit. Now there is still remaining resistance in the structure and other technical signals which need to be elevated therefore we are looking at the 4-hour locals timeframe. Initial Analysis According The Subject (4-Hour Timeframe): Now bitcoin provided some good volatile movement to the upside yesterday where it is already trading above the resistance established at the 9555 level but as there are still some important resistance levels in the structure which is one time the 50% Fibonacci-resistance of the initial downtrend and the lower boundary of the huge bear-flag that we confirmed to the downside there is a decent possibility given that when bitcoin tests these levels it confirms them as resistance firstly and secondly bounces back to visit some lower levels in the structure. It is possible that bitcoin just shots above the resistance to move higher but this possibility is at the moment really marginal. When they bounce back to visit lower levels confirms accordingly we have the first important and significant support level at the falling trendline you can see in my chart this level can also match with the 50-EMA which is marked in brown in the chart, therefore building a coherent confluence-cluster there, this means that bitcoin can bounce in this area when visited if this scenario does not happen which can play out when there is not enough support given bitcoin can fall lower to test the 400-EMA in the structure which you see marked in black. From that point on we need some crucial support there, when this can't sustain it is within the likely spectrum that bitcoin shows some more downside. The situation right now is a situation where the whole cryptocurrency definitely is sending some mixed signals in which it has to decide where the journey is arriving and where destiny will move the market not only on the short-term but also in the middle and longer timeframes. There are cryptocurrencies that showing some good potential to the upside while others looking rather weak. The next times will show us where cryptos fortune will determine and if we can arrive at saver heavens or fall back into purgatory abyss. In those situations, it is important to not get too overly speculative and to consider the situation in the best way possible, this means to trade what one is seeing and not what one is thinking. In this manner, thank you everybody for watching, you can support for more market insight here or in a telegram, will be great to see you there, good day and all the best! The ambition to transform opportunity into gold remains the most significant tool for a trader. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
22
Here Is How Bitcoin Can Continue Since The Wedge Confirmed!Hello, Traders Investors And Community, welcome to this update-analysis about bitcoins recent price-development, the current structure and what we can expect and handle the next times. As I mentioned in recent analysis bitcoin was trading in a huge rising wedge with significant resistance above, as the wedge now confirmed to the downside, which was faster than expected it confirmed the overall major rising wedge target bitcoin has here in the structure but besides that, we have some other important signals in the lower time period which need to be kept in mind in order for ongoing events which will happen since the wedge confirmed properly, therefore, we are looking at the daily and 4-hour perspective. As you can elevate when looking at my chart is that bitcoin recently found hold up at the 55-EMA in orange which is serving as a current strong support-level as bitcoin bounced there not only on the daily chart but also on the smaller time period. Therefore we can expect a little bounce from here to test the remaining upper resistance in the structure which we have at the 20-EMA you can watch marked in black and with other resistance clusters in that level making the range between 9350 and 9450 an overall resistance-cluster which will be highly likely confirmed to the downside when bitcoin visits this level. This range between the 20 and 55-EMA is a range where it is given that bitcoin consolidates between that level before moving on to continue further. Counting all these factors together we get an overall bearish perspective on the middle-term for bitcoin as the rising wedge confirmed and there are still important persisting resistance levels at the moment. After Bitcoin has corrected its down move it will continue to the downside within a high possible spectrum this bearishness we have in the middle-term increases when bitcoin crosses with the 20-EMA the 55-EMA to the downside before that does not happen we can expect consolidation in this range. When this scenario has confirmed properly and the rising wedge target reached it can mark and indicate a reversal when bitcoin finds solid support there and considering the long term perspective it can form a bigger inverted head and shoulder formation which has upside potential this, however, is still an undetermined hypothesis because it won't last when bitcoin does not find substantial support and continues downside. Inverted Head And Shoulder Scenario When Support Holds(Daily Timeframe): Consolidation Between EMAs Before Lower Low (4-Hour Timeframe): As the whole cryptocurrency-market is sending differential signals we have a point in the structure where it has to show how it can sustain further and if we are just in a small correction or it is a bigger bearish move lying ground to more downside ahead. As the stock market is declining due to upcoming corona-fears this can also affect cryptocurrency similar to those scenarios we have seen in March this year. Because the current corona-crisis is such an important factor that can affect global markets since we have seen it this year that it shouldn't be ignored in order to be prepared for possible volatile price-changes and be on the right side to profit out of the upcoming volatility when it sets in, therefore we should keep a deliberate market-approach to wage the possibilities and do not get over speculative as this happens too often these times. In this manner, thank you for watching, support for more market insight, and good day! Astonishing claims require astonishing evidence in order to succeed in destiny. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
35
BLZ is in a rising wedge. Go long and make profits?BLZ is on a short bullish run, inside this rising wedge i have traced. Many green candles with long bodies steadily pushing the price up, even though there are a few pullbacks here and there, it isnt enough to stop the bull run If the bull run plays out to the end of this rising wedge, then BLZ should be for a major drop. So lets watch the zigzag pattern and see how it plays out. Hopefully we can take some profits on this short bull run, by entering at support line bounce, and selling off at resistance line hit or swing highs, while still in the wedge. Good luck trading. Press the like button if you like my analysis
by abasinkanga
Bitcoin, Confirmed Outside The Flag, Continuation Ahead!Hello Traders Investors And Community, welcome to this update-analysis where we look at recent events, the current price-formation, and what we can expect from bitcoin the next days and hours. The last times we saw high volatility to the downside not only on the higher timeframe but also on the lower timeframe, as I discovered there are some meaningful signals which have altered the overall picture in bitcoin and can determine the outcome substantially. Beside the distributional events bitcoin is currently providing, which I recommend you to watch when going to my account we have other significant technical signs, therefore we are looking at the 4-hour local timeframe. The huge channel which you can see in my chart marked in blue which was suspected as a bull-flag now confirmed as one to the downside with heavy volume and volatility, first of all, it is important to notice that this is an increasingly bearish sign which can lie the ground for the more bearish decline in the near prospects. As we broke the bear-flag to the downside the two targets you can see in my chart are confirmed now and will be reached after we fall below the 9060, at the moment it is given within the high likelihood spectrum that these targets are reached when we break below, there is however a small percentage probability that this does not happen but it is highly marginal at the moment. As bitcoin found some little support at the moment and forming a smaller consolidation movement it is possible that we test the lower boundary from the channel of the bull-flag again to confirm it successfully as resistance, therefore, we need to confirm in the best case scenario below the 20- and 55-EMA you can see marked in my chart with blue and red above these EMAs we have also the 50 % Fibonacci-resistance which is building a solid resistance level in this area. Counting all these factors together we have a strong resistance confluence-zone in this area which will be realized when bitcoin confirms bearish in this level and turns to the downside to reach the overall targets we activated after the bear-flag breakout. The whole cryptocurrency is at the moment either in consolidation or decline with increasing pace, in such environments it is important to stick to the rational trading approach and do not overspeculate the market not to the upside nor to the downside. Globally speaking we see a decline in stock-markets resulting out of new corona-fears and the huge discrepancy between the real economy and stock market economy which can have an effect on cryptocurrency similar to those volatile market moves we have seen in March and April. We will see how it is playing out and take advantage of possible opportunities arising further. In this manner, thank you for watching, support for more market insight, and good weekend! Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
44
Bitcoin-Wyckoff-Market-Cycle-AnalysisHello Traders Investors And Community, hopefully, everybody is doing well in this volatile time we are facing today and welcome to this analysis about the important distributional events I detected bitcoin currently develops and which will affect the price sustainable in advance the next hours and days. Today we saw huge volatility at all global markets caused by the corona-fears about a second possible lockdown-restriction-phase which can have an effect on all global markets also in bitcoin similar to what we have seen in March this year. Beside the distributional events we currently facing I detected other significant technical signs which playing into the scenario that will develop when we enter the next phases within bitcoins-Wyckoff-cycle. In this manner, it is important to understand the fundamentally important Wyckoff-distribution phases and its details and nuances in the current situation with bitcoin. The Wyckoff-method provided already an exponentially high amount on distributonal and accumulational cycles in the different global markets, where you can find different examples below in the analysis and therefore it is a potent indicator for me which applied in the current bitcoin situation can lead to some good opportunities furthermore. To illuminate the importance of the events playing within bitcoins price-action we are looking at the different phases bitcoin already confirmed and will confirm in the next times. Phase A: This phase is very important for the whole other distributional cycle bitcoin is currently trading in. It marked the first stopping of the prior uptrend with evidenced supply entering the market at the preliminary supply (PSY) level you can see in my chart, this was the first point where smart sold their bitcoin which bought in before and it is also matching with the psychological 9000 levels. After the PSY bitcoin provided the BC (Buying Climax) where volatility and volume reached a maximum and retails traders rushing into the market selling their positions to smart traders. After these events marking the stopping of the main uptrend, we got the automatic reaction (AR) and secondary test (ST) which marked the final confirmation of phase one and additional supply entering the market in this phase, these phases lying ground for the further distributional events and decline in price which will be the final point in the structure. Phase B: The phase B is actually the longest phase in the structural construction and is marking the next final steps to complete the distribution with an upthrust (UT) which is actually a significant element in the range in the case to build a new cause for a downtrend and it is factly a bull-trap trapping all these breakout-traders into buying above the established support-lines where smart traders entering the market and shorting it which is a common practice in today's markets. After this bull-trapping upthrust has occurred bitcoin showed us the sign of weakness in-phase (SOW in Phase B) where we got the move below support-lines with heavy volume and volatility which indicated the weakening of demand in the structure and a new cause for the next steps to determine in the downtrend. In this event, we can clearly see that supply was dominand and after some sideways movement bitcoin moved on to the important phase c in the distributional events. Phase C: Here we go further with the trapping of the public as smart-money initiates a second upthrust after distribution (UTAD) with the final remaining test of demand-conditions in the structure and it is similar to the upthrust a second bull-trap trapping all the retail public traders in their positions before a final confirmation and burst to the downside begins within the next phases. It was actually also a point where many people called for the moon because of the high volatility we got there and this was all just a huge bull-trap initiated from smart money to pull the prices down and enter new short-positions, it may be wise to open also a short-position in this event but this can prove dangerous as smart-money can constantly provide an upthrust after the other before finally marking the downtrend which comes to the fully conclusion int he phases D and E and the increase of supply entering the market in these phases. Phase D: Phase D is confirmed in conclusion after we had the last high due to the UTAD in the structure and it is marking serious supply entering the marked with one or more signs of weakness (SOWs) entering the market-landscape, these signs of weakness are usually provided by high volatility and volume and pushing the price below important support-lines marked before like the one established by the buying climax you can clearly see in my chart after such a move we saw a smaller consolidation-phase within bitcoin and the lack of bitcoin to rally in the structure it is also the phase where first traders waking up and detect that there is something wrong in the price-action and that there may be more selling pressure to the downside after the last point of supply (LPSY) developed which showing a lack to rally in bitcoin and stopping at serious resistance levels before moving on to the next signs of weakness. Phase E: This is the last phase and the most devastating of them all as the price is now trading below important support-lines with the bearish structural elements the last point of supplies and sign of weaknesses established there is not much possibility left for a bullish continuation or reversal this phase will establish in the bitcoin price when we mark below the important support-line you can see in my chart at the 8400 level. It is also a good place to enter a short-position as volatility to the downside increases extremely and the prices decline with extreme speed. The final dooms-phase has entered after this has confirmed and the declining will not stop before there is significant support found and a new accumulational phase or re-distribution has begun. Bitcoin Wyckoff Distributional Events Example (Apr. 2019, 4-Hour Timeframe) GOLD Wyckoff Distributional Events Example (Jun. 2014, 4-Hour Timeframe) The current situation is a crucial situation for bitcoin where it has to decide how fast and with which intensity the next phases will be entered, as we have other technical elements in the current situation which giving this scenario an additional increase in probability and as we have heavy supply entering the stock-market due to a possible second corona-breakdown and the fears resulting out of it in the markets we definitely need to be prepared for the case that phase E will be an important step into unloading the whole structure to the ground. It is meant to keep in mind that when we do not hold this level and provide an additional accumulation phase the declining confirming out of it can result in heavy breakdowns and wise traders should be prepared on this scenario. When looking at the daily timeframe we have also the rising wedge currently in bitcoin which can provide additional confirmation in the range and will be confirmed when we break the lower boundary to the downside. When looking at the long-time-picture of bitcoin there are significant levels of support in the structure that need to behold for even contemplating a possible reversal or resulting continuation to the upside otherwise the probability for that scenario is quite a marginal one. There are many people calling for the complete moon and reaching it in below two weeks which need to be differentiated at the moment, it is important to do not fall into illogical speculative aspects and trade what to see and not what to think therefore there are quite many obstacles in bitcoins way when contemplating the bullish scenario. In this case, it is significantly true to keep the next distributional events standing in front of bitcoin in mind and be prepared to profit from possible opportunities arising from them. We will see and contemplate where the whole journey can determine and if there are any possible stabilization signals within bitcoin further continuation. In this manner, thank you, everybody, for watching, support for more market insights, good day, and all the best! There are many roads to prosperity in the modern economy, but one must be contemplated. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
131
THE WAR BETWEEN BULLS AND BEARS CAME TO ENDBitcoin started a triangle a week ago and looks like the triangle is ending and we can predict that the price will test the 4 months old support. After testing the support, we should expect a comeback to the main resistance and a test. If there is a high volume , BTC can break the resistance with a large move to 10K+. However I don't think that it is an easy resistance to break so my main call would be a come back to 9350 USD. This move will surely extend the time for the bull season to start for at least 3-4 months.
by edider
1
BTC/USD Formation of a symmetrical triangle. Pivot zones. Trend Potential price reversal zone . But do not rush. Day candles (volatility) are not large. No seller volume. A symmetrical triangle forms at the top of this local trend. The goal of the figure since its potential breakthrough is about 20%. Symmetrical triangle - 50/50 uncertainty figur. Its formation, breakthrough and price fixing will give a further direction to the market. For clarity, past local trends have been specifically shown to better understand the situation and work. In the previous trend, the reversal pattern after breaking the uptrend line was the “ head and shoulders” pattern. If you are not in a position, the entry will only be on a breakthrough or a pullback after breaking a triangle, depending on your trading strategy. If you are not sure about something, use a stop loss. It is MANDATORY to use stop loss in margin trading. How to trade in secondary trends in such situations has been repeatedly described in training articles written by me on "live trading examples." I will not repeat myself. You must understand that Bitcoin is an indicator of the entire market. The past trading idea of ​​BTC / USD, the scenario of which is developing in this situation. BTC / USD Preservation of a position in a trend. Ascending wedge. Important area. Trend development and testing of an important reversal zone. In this trading idea, I showed the global trend of the BTC / USD pair. BTC / USD Trend Trading. Important area. Fantastic scam.
BITFINEX:BTCUSD
by SpartaBTC
29
The Hidden Force, BITCOIN Approaching Historical Moment!Hello Traders Investors And Community, welcome to this update-analysis about bitcoins current market situation and where we are going further with the overall movement and its price-action-mechanism. In my observations, I found some highly important and fundamental technical signs which can indicate a bearish reversal with a ongoing continuational breakdown similar to the pattern we have seen originating in February this year and providing heavy bearish breakdown after touching the 10.000, for now, we see similar signals in this range that can provide a historical step in bitcoin and that can affect the price-action meaningful the next months ahead, therefore we are looking at the daily timeframe and also on the locally 4-hour timeframe to enlight a better perspective on the details and nuances in the past formation and similarity to the current one. Alright, when looking at my analysis you can see that bitcoin is trading in a huge and long rising channel which is marked in light-blue, this channel is actually similar when not highly identical to the first rising channel which stopped at the 10.000 USD mark before breaking down and providing this heavy down-move. What is of high importance now is that we see exactly a similar formation to the first reversal in the rising channel, this formation consists of two initial lower highs (in the channel) and one final lower high (outside the channel). Bitcoin already formed the two initial lower highs in the second channel right now and already confirmed outside the rising channel which can give an indication for the third and final lower high in the structure which will confirm the formation and lead to a similar breakout seen before. First Lower High Formation (Inside The Channel + Outside The Channel): Second Lower High Formation (Inside The Channel + Outside The Channel): What is also amazing is the similarity between the length spend inside the channels, at the first channel it was 63 days and the second channel now confirmed outside on the 73 days. All over this is one more given factor in the high significance of similarity in both formations. The next days we can expect bitcoin to form another lower high in the structure after that it will be critical for bitcoin because when we fall below the 8100 level, which I already mentioned in previous analysis there will be a bearish shape with high possibility, therefore, we should be prepared for this scenario and take the proper action when it happens. I know many people taking the moon into consideration but at the moment the possibility for that scenario decreases because we have this formation moving on and the significant resistance at 10.000, when we confirm the 8100-200 range as solid support, for example, the likelihood for a bullish break increases but when we fall below that level and form another lower high the bearish scenario will confirm in all means available which should be kept in mind. To succeed in this current market environment we should be aware of the possible breakout and don't get astonished when it happens so we can take the proper action and profit out of the opportunities arising from the situation. When we see the bearish scenario confirming it can be traded on the short-side with targets in the bearish ground zone which you see in my chart, it is the wisest option to wait for confirmation at the moment and prefer the safety of cash than to rush aggressively in the markets. On the bullish side a clear break of the 10.000 with good volatility can be traded conservative after confirmation. The best option we should consider now is to keep patient and have the outlook for the proper confirmation. It is almost always the best option to wait for the right breakout before placing, there is never a hundred percent sure setup, there are always possibilities in the markets which can increase or decrease and traders should take advantage of the highest possible scenarios to trade them rightly which are most often confirmed setups with a clear shape in the direction. In this manner, thank you everybody for watching my analysis, and feel free to support this will be great. There are many roads to prosperity, but one must be taken. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
63
Bitcoin, Still In Channel, Paramount Support To Be Stabilized! Hello Traders Investors And Community, welcome to this analysis about the current situation facing bitcoin, at the moment we are still trading in the overall big rising upward channel but this can change the next time, currently we are in the consolidation but this can change when bearish pressure increases. As I already described in the locally time-frame we can get a triangle there which will confirm either to the up or downside, if you did not see this analysis already I recommend that you go to my account and check it out. As I discovered in the bitcoin chart there added some signals together which making the overall shape clearer in which direction we are going further therefore we are looking at the daily bitcoin chart. As you can see looking at the chart bitcoin found support at the 30-EMA which is marked in blue in my chart this is an important level for bitcoin because we bounced there already several times in the previous trend. At the moment it means the trend is still bullish, what is adding to this bullishness is the blue rising channel in which we are trading but this bullish outlook can change when we fall out of the rising channel and below the 30-EMA which will serious and important indications for a possible bearish continuation as these levels holding the overall price still stable. When this happens it will give bitcoin an initial push to visit lower levels of support in the structure as you can see it marked in my chart. For now, it is possible that we confirm the lower trendline of the rising blue channel to set up for a breakout of the higher resistance at the 10000 but this possibility is very marginal and not within the likelihood spectrum because the 10000 level is still heavy psychological resistance level which was the origin of the heavy breakdowns seen last months. In this case the longer correctional consolidation will come when we break the blue rising channel to the downside and confirm below the 30-EMA. This will be a major step in bitcoin because it will take out the overall uptrend rising channel which holds the important uptrend we had for over two months now therefore this is a meaningful scenario that shouldn't be ignored. The overall structure looks like a hug bull-flag developing at the moment which needs to confirm properly for further continuation, remember that we need to confirm the important support in the range at 8100 to have a chance that the bull-flag will be realized as a real bull-flag and not a fake one, for this scenario the support at 8100 is extremely important to hold otherwise when we break this support to the downside there will come high bearish pressure and bitcoin will look for more downside to come in the bearish ground range which you can see marked in red in my chart. Therefore it is important to hold the support but when it does and bounces with good volatility we have a good possibility within the schedule that the bull-flag confirms to the upside. So, friends, this should give you a good overview about the current situation with bitcoin and what we can expect in the next days and weeks. There are many people calling for the complete bull-market catapulting bitcoin to one trillion in market cap but this is an unrealistic approach in the markets and of high speculative value, to succeed we need to see the market in the clearest light as possible therefore we need to attain a cool head and be prepared when changes occur in the market to take opportunities with the best arrangements as possible this means to not be overly optimistic in one direction which happens too often and to keep in mind that the market especially fast-moving volatile markets in today's economy can change dramatically. In this manner, thank you, everybody, for watching, support for more market insight, and a good day to everybody. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
21
Bitcoin, Building Another Big Triangle After The Small One!Hello, Traders Investors And Community, welcome to this update-analysis about the remaining indecisive situation within bitcoin and where we are heading further the next hours and days. The small triangle which I mentioned in past analysis broke finally to the downside if you didn't saw this analysis I recommend that you go to my account and watch it to have a full-depth-overview. At the moment there added some other significant signs which make it clearer in which direction Bitcoin will develop in the middle-term-perspective and the remaining conditions that need to be fulfilled to confirm the proper scenario, therefore we are looking at the locally 4-hour timeframe. As you can see in my chart bitcoin confirmed the small red triangle exactly as mentioned and is now approaching the expected downside target-zone at the 8730 levels when we touch this zone it will be confirmed highly likely as support. What is more important in the bigger picture here is that bitcoin is forming a large triangle here which you can see marked in blue in my chart. This triangle was already realized by two touches of the upper boundary and the second touch of the lower boundary confirming when the downside target is reached therefore it increases the small-time bounce in this level for a rally to test the higher boundary of the triangle. What we need to keep in mind here at the moment that bitcoin is building an overall consociational range which will break either to the up or downside. Remember that the best trades resulting from confirmed setups, in this case, it is the same, we need to see a confirmation before taking advantage of the opportunity as it is always almost the case. So when considering the continuation of the before established uptrend we need to break the upper boundary clearly to the upside after the third initial test, after this has been done the best will be a consolidation above the upper boundary or a test of the upper boundary to signal the continuation. When considering the bearish side of things the importance of the current resistance at the psychological 10.000 USD mark should not be ignored therefore the bearish scenario is still in the schedule and will be realized when we clearly break the lower boundary of the triangle to the downside with a volatile move signaling continuation. After that has been done there is an important support level at 8100 which needs to behold for a possible bullish reversal otherwise when this is not the case the bearish breakdown below this level will be extreme because there is not much support below this area, in this case it will be possible to probably add to the short-position or open a new one when not already traded. Thanks for watching everybody, support for more market insight, and a good weekend! ;) Climb the mountains and get their good occasions when they show up. In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
56
Bitcoin, Builds Important Triangle, Upside Breakout More likely!Hello, Traders Investors And Community, welcome to this update-analysis about bitcoins current situation in the locally 4-hour timeframe and what we can expect the next hours and days. At the moment bitcoin is still in a consolidation phase and after such consolidation, we see almost always a high volatile breakout either to the up or downside, in such cases we need to consider and elevate which breakout is more likely as I already mentioned in recent analysis bitcoin has the potential to move above the 10.000 USD level which needs to confirm because it is an important psychological level which we confirmed several times as bearish resistance in the past, in the last time there added some significant signals which I discovered and which will determine bitcoins further outcome, therefore, we are looking at the locally time-frame. As you can see in my chart bitcoin is building an overall range between the 9100 and 9950 levels here which can be determined as a triangle, the upper boundary and lower boundary of the triangle are marked in blue in my chart. You can see the price increasingly falling in volatility and volume which means a heavy breakout will develop, the big question now is in which direction we will breakout. At the moment both directions are possible but we have a higher chance to break out to the upside when we take out the important psychological 10.000 USD mark, remember that this mark has to be taken out sustainable with a clear break and high volatility above the upper boundary of the triangle when this does not provide we can see a sell-off in the direction down after price failed to hold the 10.000. The importance at this triangle right now is that it can both break to the up or downside because we have more technical factors which makes it important, at the bearish side it is the extreme significant psychological mark and at the bullish side it is the rising lower boundary with higher lows which makes the breakout possible but as this is normally a bullish breakout formation the tendency for a breakout to the upside increases because we tested the 10.000 several times now and didn't fell to the downside when thinking in possibilities I give the upside breakout 70 % and the downside breakout 30 %. The bullish breakout will be confirmed when we cross above the 10080 levels into the upper range resistance you see in my chart and after that confirm the upper boundary with a pull-back. A great deal in such formations is that both breakout scenarios can be traded properly when the breakout confirmed, many traders are aggressive in the markets and want to have fast results according to extreme bullish or bearish expectations and setups which fulfill 100% for sure but the patient approach is most often the best opinion for wise traders who want to profit on a long-time-scale, therefore, the recommended entry in such scenario like the current one is to wait after the right breakout has confirmed and then take the trade in the breakout direction, of course, it is possible to take an immediate aggressive entry but this is a mere speculative illogical approach in the market because we didn't see any serious confirmation right now and the price can still turn in the other direction. In this manner, thanks for watching the analysis, support for more market insight, and a good day everyone! ;) Trading effectively is about accessing possibilities, not certainties. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
8
You need a dollar dollar, a dollar💰 on Bitcoin...!!!30-min chart - New "Value Area " negative sign (U-turn) R-8912 nearby The "Parallel Channel" price congestion expected with decisive zone : still not clear up or down...? ==> ✍ Kindly Vote in comment , what you think Plan A or B? Weekly Trouble/Downtrend: This is the road of the Bitcoin, we can see where it goes together You & I know, trend is downward from this pattern. Bad times are coming and I & you reap Dollars, isn't it? It's been a long old trouble long old troublesome road below 8241 w hich can push price down free fall. Last Selling Successfully Target achieved of Bitcoin:
BITSTAMP:BTCUSD
by Jay_shree
393