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BITCOIN MAJOR MOVEMENT - NOT THAT BULLISH YET !!!Hope you have a beautiful day! In the following technical analysis I am presenting the current situation of the market for medium term period by utilizing highly efficient structure lines and data language. Please let me know what do you think about it ? Are we going to breakout bullish or bearish out of the triangle ? Let me know what is your position on this and let's construct a positive conversation Enjoy your day and be careful leveraging!
BITSTAMP:BTCUSD
by Scrembo
1 Hr Bitcoin possible Double Top in playNot going to lie, that little $300 had me for a quick second but then I looked at a few things. Low volume and a failure to sustain the move on the short term. I'm sure some of you may have seen other people flip bullish and opened new positions expecting the rumor to push us past $10k. The 1hr RSI is nasty as is the possible Double Top. I wouldn't be surprised if the hopium for the bulls has a few opening some overleveraged longs. (Bull Trap) That said, if the Paypal/Venmo rumor turns out to be true then we can most definitely see sentiment flip bullish as I will too. However, if we don't get a confirmation in the news by the end of the week then all sentiment and hope will be crushed with a move to the downside. Do I believe Paypal and Venmo will integrate Bitcoin down the road? Yes Do I think it'll happen soon? No I'm still in my short position but that's because I have been. If you're out of your position then be smart and wait for bear volume to pick back up.
BITSTAMP:BTCUSD
by tired_man_willis
2
Is A 1.6% Upside Target Worth The Risk?Without carefully crafted historically backtested strategies, the kinds of trades available on short-time frames within the current market structure are high risk. Check this one out. 3 'white soldiers' candle formation on the 4 hour chart. Looks good. MACD pushing up. But look at the overhead resistance level. It's just 1.6% above current price. Would you risk leveraging long for such a small move? Or would you wait for stronger momentum on a higher time frame?
Long
by Sparkster
1
ADA rolling over = BTC rolling over 1DBulls have failed to sustain their push especially with the alts running out of steam. I'm mainly trading off of the Daily & Weekly and we haven't had a retest of our Weekly low around $6850. Bear volume is slowly increasing and a lot of the lead alts are starting to bleed. ADA pumped hard which led the last "real" push towards $10k (It was May 27th, check the daily for each) and it's the first to rollover. I do have a short position. Checkout that nasty RSI lol Non-crypto: Money is going into stocks for the time being. I personally have seen lots of posts about that on social media from associates.
BITSTAMP:BTCUSDShort
by tired_man_willis
3
Groestlcoin (GRS) A Big Pump AheadHi friends hope you are doing well. In this article I want to show you my technical analysis on Groestlcoin to understand how it has completed the setup for very big bullish move. The major spike: If we watch on the weekly chart then GRS was moving in a down channel. And on the candlestick that was started on the 4th May 2020 it was trying to break down the support. But soon in the second week of May 2020 it started the bullish rally up to more than 80% from the lowest point up to the highest point. All indicators gave clear bullish signals before the rally: Before the bullish rally almost all indicators gave very obviously signals. For example I have used the combination of five indicators to determine the bullish rally. Then it can be easily observed that on 8th May the moving average convergence divergence (MACD) indicator started turning bullish and the stochastic gave bull cross from oversold zone. Then on 12th May the momentum was started changing from bearish to bullish and finally we received a bullish signal by the directional movement indicator as well because the positive directional indicator (+DI) crossed up the negative directional indicator on 22nd May and then we have witnessed a powerful upward move. The SMAs are turning bullish: If we place the simple moving averages with the time period of 25, 50, 100 and 200. Then it can be easily observed that after the strong bullish rally the price action has crossed up all the moving averages. At this time the price action of GRS is crossing up the 200 simple moving average. This time the smallest time period moving average 25 is crossing the 50 simple moving average and the biggest time period moving average with the time period of 200 is above all other moving averages. Once the smallest moving average will be moved above all other moving averages and the biggest time period moving average will be moved below all the other moving averages then a complete opened alligator mouth can be formed by the SMAs that can trigger more powerful bullish move. And before the alligator’s mouth formation we can observe another bullish move when the 50 simple moving average will be crossing up the 200 SMA. Because this golden cross is considered as a powerful buying signal among the traders community and this bull cross between the two moving averages will be a big invitation to the traders to buy GRS. Harmonic moves with continuation: Now let’s move to my favorite part of the analyses and that is the harmonic moves by the price action of GRS. If we switch to the long-term weekly chart then it can be easily seen that the price action is continuously forming different harmonic patterns and all these patterns are bearish. For example 1st the price action formed a bearish Shark pattern and for the completion of final leg it produced more than 1700% bullish rally. Then price action started the formation of bearish Butterfly pattern and while completing the final leg of this butterfly the price action produced more than 600% rally. At this time the price action is forming another bearish Shark pattern. The formation of this pattern was started from the candlestick that was started on 23rd April 2018. And after the completion of initial leg the price action retraced up to 0.618 Fibonacci level. And this was the first confirmation of bearish Shark. Then B to C leg is projected between 1.13 upto 1.618 Fibonacci projection and this is the second confirmation of Shark. You can observe that on the chart I have placed the pattern up to 1.618 Fib level, but this level is in negative zone therefore it will be not possible for the priceline to enter in the negative zone. I have just placed the pattern up to this level only for educational purpose to show you the perfection of this pattern. However the priceline has found a strong support at 0.00001751 sats. Therefore the potential can be up to this level. Now as per Fibonacci sequence of bearish Shark. The priceline should move between 0.886 up to 1.13 Fibonacci retracement level. And once this leg will be completed then in it can produce up to 1650% big bullish rally. However as per Fibonacci sequence of bearish Shark I have also defined some secure targets as well. The complete buying and sell targets as per Fibonacci sequence are as below: Buy between: 0.00003480 to 0.00001751 sats Secure sell target zone: 0.00008636 to 0.0001591 sats Aggressive target sell zone (Upto the completion of shark's leg) 0.0002541 to 0.0003096 sats Conclusion: As previous history of GRS it is very easy for the price action to complete the formation of another harmonic pattern and that is almost formed. However it is not confirmed that this strong bullish move will be started before the testnet release that is announced by the GRS team.
Long
by moon333
1
Daily Triple Top Back in PlayOk, so that Bart break to $10.4k threw me off. However, after the steep drop and failed break we went back to where we were beforehand. Same thing as I said last week, bulls must sustain the bull breaks or it'll get rejected. For the first time in over a year I've gone short as I feel a drop in order to retest the Weekly low is inevitable. I've been setting cash aside mostly for buying to accumulate but I'm putting my money where my mouth is. CME Gap at $7600 you know how that goes. bitcoinist.com
BITSTAMP:BTCUSDShort
by tired_man_willis
1
$800 Dollar Intra-Day Moves.. What Does It Mean for BTC Traders? An 8% move upwards in the space of 4 hours.... a pause... then an 8% move downwards. That's a dollar move of the entire price of one bitcoin from back in January 2017, just 3.5 years ago. Imagine when $1000 dollar daily candles become the norm. How will trading have to change? Will people still use a 15-minute chart with bitcoin? How fast will newbie traders get REKT? Trade wisely. Use algo-assisted trade optimization tools. #SparksterSignals
Long
by Sparkster
1
Still Bearish with Triple Top 4hrLast week I made a post about a Double Top that looked to be executing but the Bulls held around $8550 thereby establishing support at this level. However, looking at the Volume levels, the Bears are winning in that regard as Bulls have repeatedly attempted to breach $9500-$10k but are continuously failing with each "peak" being lower than the previous. Unless Bulls rally with strong volume, we can expect falling prices over the next month. On the Weekly, we haven't even touched the 25 EMA and on the Daily we are barely holding above it. The RSI hovering around 60 is not traditionally a good sign though we know how Bitcoin is. That said, if you're going Long, the best opportunities and safest bet will be in the 20s after a dump with a Bull Divergence. I don't short as Bitcoin is unpredictable but if you're doing so put tight stops. What Is a Triple Top? - The triple top is a type of chart pattern used in technical analysis to predict the reversal in the movement of an asset's price. Consisting of three peaks, a triple top signals that the asset may no longer be rallying, and that lower prices may be on the way. - Triple tops may occur on all time frames, but in order for the pattern to be considered a triple top, it must occur after an uptrend. The opposite of a triple is a triple bottom, which indicates the asset's price is no longer falling and could head higher. www.investopedia.com
BITSTAMP:BTCUSDShort
by tired_man_willis
3
SNGLSBTC formed bearish Crab To Start Bearish MoveIn my previous post of SNGLS with Bitcoin pair we have seen that on 2 day based chart the SNGLS formed bullish Cypher pattern and as per prediction the priceline took a powerful bullish divergence from buying zone and produced more than 151% profit. Formation of bearish Crab pattern: Now this time on midterm 2 day chart the price action of SNGLS has formed bearish harmonic Crab pattern and entered in potential reversal zone and from here it can start a bearish move. Sell Targets: The sell targets according to Fibonacci sequence of harmonic bearish Crab pattern should be: Sell between: 0.00000182 to 0.00000215 Stop loss: The potential reversal zone area that is up to 0.00000215 sats can be used as stop loss in case of complete candle stick closes above this level. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
SShort
by moon333