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Bitcoin Broke Our TrendlineBitcoin broke our upward sloping trendline, which basically invalidated the projection that it will be heading up in an Impulsive move in the short-term, and due to that now looks more likely to move downward towards the 50 moving average. It seems like Bitcoin is once again being ruled by the whales that are making the price move in unexpected ways. For the longer term, I still very much expect Bitcoin to be moving up, however at this time it is unclear how the market will be moving as it is behaving in a consolidating way. In the short term, it looks like we could see a bounce from the 11,400-sh level, as indicated in the chart above.
COINBASE:BTCUSD
by EasyTradingSignals
BTC NEEDS A "THING"On the BTC chart here you have from the top: Bollinger Bands indicating a slightly overbought market, Balance of Power indicating a current strong sell off, Relative Strength Index indicating a neutral 50 meaning no trend of momentum currently in any direction, Stochastic chart indicating momentum upwards towards overbought territory. According to the 3/4 sore for bearish trend, my short term predication is bearish UNLESS SOMETHING MIRACULOUS HAPPENS. Which is not uncommon for BTC. This could be news on BTC being accepted into some major store or a investing firm buying into BTC, anything in that line. However if nothing happens we have a 3/4 indication of a bearish signal with the last 1/4 being neutral. Hit a like if you found this helpfull. Regards, EV
BITSTAMP:BTCUSDShort
by BlockTechEv
4
The Real Bullish Move Of Bitcoin Is On The WayHey friends hope you are well and welcome to the new update on Bitcoin. As in my previous articles I have been showing you the different harmonic moves on the daily chart by the price action of BTC. Lastly the price action formed a bullish Cypher pattern and as per Fibonacci sequence of this pattern I predicted that the price action will move up from the potential reversal zone of this bullish Cypher. And Finally as per prediction the price action moved up with powerful bullish divergence and so far it has spiked beyond $12,000. The resistance of bit symmetrical triangle has been broken out: We have been watching that the price action of BTC was moving in a big multi-years based symmetrical triangle that was started in 2017. And so far the resistance of the symmetrical triangle was working as a strong rejection line for the price line of Bitcoin. Whenever the pipeline was reaching at this rejection line it was moving down at the support after rejection. Now finally the price action has broken out the resistance of the symmetrical triangle. At this time it is moving above the rejection line. As we have already discussed that this resistance of the symmetrical triangle was the strongest resistance since 2017. Therefore there are strong chances that now the price action will move down to re-test the previous resistance line of the symmetrical triangle as support that is almost at $8000. The most strongest signal I am waiting for: Now I want to discuss with you the most powerful bullish signal that I am waiting for. And that is the complete formation of an opened alligator mouth by the simple moving averages with the time period of 25, 50, 100, and 200. First of all I want to take you back 2013 to 2015. And here we can observe that the price action found a strong resistance and after been rejected by this resistance several time the price action of Bitcoin also found the support and formed a falling wedge pattern. Finally the price action bounced from the support of this wedge pattern and the 200 simple moving average as well and broke out the resistance of this pattern. After breaking out we can also observed that 25 simple moving average moved about all then we had the 50 simple moving average then 100 and 200 simple moving average moved below all and a complete opened alligator mouth by the simple moving averages was formed and priceline of Bitcoin produced more than 3000% powerful rally. Now if we move back to the current situation then we have the 200 simple moving average below all then 100 simple moving average is already above 200 SMA. Now only bull cross between 25 and 50 simple moving averages is due. Once the 25 simple moving average will cross up that 50 simple moving average and moves above all the other SMAs. Then a complete opened alligator mouth will be formed and we can witness a very powerful rally to the upside on the long-term as we have witnessed back from 2013 to 2017. Conclusion: After this big breakout even though the price action of Bitcoin is likely to start a very long term rally to the upside. But there is a strong possibility that the price action will move down to re-test the previous resistance of the triangle as support before starting the next bullish rally. At the time of writing that resistance is at $8000.
BITSTAMP:BTCUSDLong
by moon333
3
BEARISH BITCOIN ANALYSIS..Good Morning Traders! My analysis is based completely off of bearish sentiments. With that being said, I've identified a Double Top Formation on the 15 minute time-frame. As well as a Head & Shoulders Reversal Pattern. In addition to that, my EMA & WMA just performed a Bearish MA Crossover. A Doji recently tested my smaller EMA & failed to break. Which adds to the bearish call. I'm expecting possible pullback to indicated level. If price fails to break through that zone, I predict bigger bearish movements. What do you think about my new chart layout?
BITSTAMP:BTCUSDShort
by lobfxempire
BTCUSD Update: Profit=340900 SL=78800 Reward/Risk > 4.3:1Trade Setup summary: Profit targets=340900 pip (28000 + 56500 + 91400 + 165000) Stop Loss =78800 pip Reward/Risk > 4.3 : 1 Current Status: Total Profit: 177537 pip Closed trade(s): 100337 pip Profit Open trade(s): 77200 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 11367.21 based on 'previous Forecast' at 2020.07.31 : Closed Profit: TP1 @ 11420.0 touched at 2020.08.01 with 5279 pip Profit. TP2 @ 11700.0 touched at 2020.08.01 with 33279 pip Profit. TP3 @ 11985.0 touched at 2020.08.01 with 61779 pip Profit. 5279 + 33279 + 61779 = 100337 Open Profit: Profit for one trade is 1153.21(current price) - 11367.21(open price) = 38600 pip 2 trade(s) still open, therefore total profit for open trade(s) is 38600 x 2 = 77200 pip Technical analysis: . BTCUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 64. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (11420.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP2= @ 11700.0 TP3= @ 11985.0 TP4= @ 12334.0 TP5= @ 13070.0 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:BTCUSDLong
by ForecastCity
14
BTCUSD Update: Profit=340900 SL=78800 Reward/Risk > 4.3:1Trade Setup summary: Profit targets=340900 pip (28000 + 56500 + 91400 + 165000) Stop Loss =78800 pip Reward/Risk > 4.3 : 1 Current Status: Total Profit: 177537 pip Closed trade(s): 100337 pip Profit Open trade(s): 77200 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 11367.21 based on 'previous Forecast' at 2020.07.31 : Closed Profit: TP1 @ 11420.0 touched at 2020.08.01 with 5279 pip Profit. TP2 @ 11700.0 touched at 2020.08.01 with 33279 pip Profit. TP3 @ 11985.0 touched at 2020.08.01 with 61779 pip Profit. 5279 + 33279 + 61779 = 100337 Open Profit: Profit for one trade is 1153.21(current price) - 11367.21(open price) = 38600 pip 2 trade(s) still open, therefore total profit for open trade(s) is 38600 x 2 = 77200 pip Technical analysis: . BTCUSD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 64. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (11420.0) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP2= @ 11700.0 TP3= @ 11985.0 TP4= @ 12334.0 TP5= @ 13070.0 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
BITSTAMP:BTCUSDLong
by ForecastCity
13
DONT INVEST IN BITCOIN - OTHER TIMES - MOST KNOW THE RISK OF BTCDONT INVEST IN BITCOIN IN MONTH JUNE, THIS ARE THE EXPECTING CRASH MONTH. since 2009, we have seen the big grow of bitcoin, depending on Hope, get rich quick, but at end bitcoin become a whale game, where they have all the control inside it. think logically the large companies do not invest in bitcoin? because bitcoin is based on nothing that earns, it has no income, the only thing that makes bitcoin good is the blockchain. warren buffet have said it more times. and also TRUMP are not a fan of bitcoin, and Elon musk own a very child amount of it.. if this was really the big money, why they dont invest big on it? bill gates and other big names why they dont see the future on it? as we know this names have made the world.. why apple CEO not invest? i can tell you the story: bitcoin based on hope, trade what you can trade is good, but at same time it can fall very hard. I believe and expect that there will come soon a moment, where we can see the first crash of this coin. Depending on exchange data, the most whales are on manipulations trend. Plan B.. depending them chart on history.. who said it will happend as history. before in times people had hope, and did think it will only grow, now users are more acctive and know also the risks. depending on google data , there is no more interest as in 2017
Short
by Protixder
11
BTC/USD: Bear Flag Pattern Analysis 1H (Aug. 05)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this post, we analyze Bitcoin's hourly chart through technical analysis, in order to determine its bullish and bearish probabilities. Analysis - After a huge drop testing the 10.5k support, Bitcoin has been consolidating within an ascending parallel channel - While it has formed higher lows and higher highs, this could be seen as a form of distribution before another leg down - The setup appears to be a typical bear flag pattern, in which prices consolidate in a slight uptrend before breaking down for another bearish leg - The Simple Moving Averages (SMAs) are aligned in reverse: the 100 SMA is at the very top, with the 50 SMA and 20 SMA below it. - Bitcoin is currently testing the 0.5 Fibonacci retracement resistance - Above it, it also faces the middle trend-line resistance of the ascending channel. Market Sentiment: Long short ratios are at 70 to 30, with significantly more long positions. While this reflects the dominantly bullish market sentiment, it also could be concerning from a contrarian point of view, as we have recently seen billions of long positions get liquidated from a sharp drop. What We Believe We believe that a corrective move is highly probable given the technical evidence substantiating cases for both bullish and bearish scenarios. Let us know what you think in the comment section below Trade Safe.
BITSTAMP:BTCUSDShort
by XForceGlobal
7
BTC/USD: Resistance and Pullback Probabilities 1W (Aug. 04)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this analysis, we analyze Bitcoin's weekly chart through the use of the envelope indicator, and Bitcoin's tendencies to test envelope support and resistance levels through breakouts and pullbacks. Analysis - To begin with, we look at the bullish rally that took place in 2017 - Despite the steep bullish trend, Bitcoin had phases of small corrections testing the envelope support - Such corrections took place even during a parabolic move in the form of a pullback - As the trend started shifting, and prices fell below the envelope indicator, we have seen the envelope indicator get tested - Breakouts took place during the way down, testing the envelope resistance multiple times - The same price movement had repeated during the recent bullish and bearish rallies - Currently, we are trading way above the envelope indicator - Despite the overall trend being bullish, a pullback to retest the envelope support would indicate a 15% correction from current levels Market Sentiment: Long short ratios are at 70 to 30, with significantly more long positions in the market. While this is a reflection of the bullish sentiment, based on contrarian theory, this could be a concerning factor, considering the fact that billions had been recently liquidated. What We Believe The rejection we have faced at 12k regions also substantiate the argument that a corrective move in the form of a pullback is highly probable considering Bitcoin's past price movements. b]Let us know what you think in the comment section below Trade Safe.
BITSTAMP:BTCUSD
by XForceGlobal
2
BTC/USD: Advanced Elliott Wave Correction Analysis 1H (Aug.04)X Force Global Analysis: If you find our analyses to be helpful, make sure to support us by dropping a ‘like’ In this post, we analyze Bitcoin's hourly chart using Elliott wave theories. Analysis - To begin with, it could be said that the Elliott Impulse Waves (12345) on the minor scale (marked in orange) are complete - Wave 4 is clearly consisted of minute Elliott Corrective Waves (ABC), marked in yellow - Wave 5 also shows a clear uptrend of impulse waves on the minute scale - As we seek to correct, we correct in Elliott Double Combo Waves (WXY), which is also consisted of double combo waves - We have seen a rejection of wave X at the 0.618 Fibonacci retracement resistance around 11.5k - Based on Elliott waves, a final corrective wave is anticipated Market Sentiment: Long short ratios are at 72 to 28, with significantly more long positions than shorts. While bullish sentiment is reasonable, excessive amounts of long positions could be a red flag, and an strong supporting evidence of the contrarian theory. What We Believe We believe that a corrective wave is highly likely to play out based not only on technical indicators, but also short term Elliott Waves as counted above. Let us know what you think in the comment section below Trade Safe.
BITSTAMP:BTCUSDShort
by XForceGlobal