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ELLIOT WAVE: Bitcoin Might Decline To $5500 Confuence AreaBitcoin is clearly in the corrective cycle but might not ready for the significant rally yet. The correction which seems to be unfolding as a triple Zigzag is still in the making. We've seen an a-b-c zigzag in wave (w), and another a-b-c zigzag in (y), but in wave (z) "3rd zigzag" seems to have completed wave "a" while wave "b" is in the making. Wave "b" of (z), which seems to be unfolding as an expanded flat pattern, will most-likely terminated at 1.618 area "blue zone," that lined up with channel resistance and 200 EMA. This confluence level will most likely cause a reversal, which will lead to a decline in wave "c" of (z) to complete the 3rd zigzag pattern. Wave "c" of (z) should find support at $5500 circa which comprises of 78.6 Fibonacci retracement + channel support + level where wave (z) equals (y). Bottom Line The price will most likely advance to around $8300 - $8500 area to complete wave "b" of (z), then we might see a decline to $5500 in wave c of (z) to complete the corrective cycle. The important thing is that once the corrective cycle is completed, we should see a major rally in wave C that will exceed wave A high at $13800 zone. Thanks for reading! Veejahbee.
BITFINEX:BTCUSD
by Veejahbee
2
#Bitcoin Bulls already lost the fight? #BTC #BTCUSD- Bitcoin Price Update 17.09.2019 - Did Bitcoin Bulls already lost the fight? Price is now trading again towards 10k Support, below yesterday's daily Candle Close. Daily Stoch and Weekly Stoch are still heading down. On Both Timerames the Stochastic is divergenting and accelerating to the downside. Price action is currently flattening out squeezing all Exponentials together making serious trading on Bitcoin nearly impossible. The Strategy you want to play in this Market is to let the Major Descending Triangle resolve itself without having any open Position. But if you eager to take the risk you have to place Trades with a real good Risk management setup. Longing of 10k or even 9,1k Support is going to be a real brave Move taking it consideration that we retested Support level 9,1k a few times already and over time testing out support, the Zones are getting weaker and weaker. A Break of the Major Descending Triangle will open up a rather brutal cascade of Stop Loss Orders and Long Liquidations torpedoing prices to the next level of Support which could lead down to 8.4k. Then We need to reevaluate the situation, is it over or is it going to get much worse. Shorting Bitcoin is Risk Management wise a little bit simpler, because we are closer to a potential Trend Change then Targets when breaking the Pattern to the Downside. If you put on Shorts on any Desperately Bullish Moves just use the upper Trendline of the Descending Triangle as a Risk Off Line. In any Event pushing us above this Line will take away at least short term the possibilities of a 9,1k Support Break. Have your Stops in Place, Trade Safe! =========================== you can follow and copy my Trades on eToro My Etoro Profile: www.etoro.com Etoro Registration Link: etoro.tw
BITSTAMP:BTCUSD
by koboltrading
BITCOIN TO THE MOON?!? | We are About To Find Out!!BTCUSD (BitCoin) Looking for a range bound and triangle setup while just waiting for volume to come in and take the move up! Predicting that BitCoin trades into a bit more of a tighter range until we see a breakout! I am expecting a breakout to the upside but it looks a little slim because it is holding below the 200 day moving average which is definitely a bearish sign. To learn more and follow along, please 1. Give me a like and follow on here 2. Follow me on Instagram 3. Follow me on Youtube
BITSTAMP:BTCUSDLong
by tenpercentcreditspreads
BITCOIN: Swing-Setup! Opportunity to SELL#BEARS#BreakoutHey tradomaniacs, welcome to another free signal! Instructions: Place a sell-limit close to the trendline! ----------------------------- Type: Swingtrade Sell-Limit: 7.804 Stop-Loss: 8.261 Target 1: 7.070 Target 2: 6.596,05 Target 3: 6.453,63 ----------------------------- LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
COINBASE:BTCUSDShort
by Trading2ez
3
Can Bitcoin make a 1600 Bottom?The chart is self explanatory, in a few words a comparison between how the 2014 - 2015 bear market reached its bottom and the similarity with the price action at hand. Based on that comparison, December's 3150 bottom was a temporary one much like the 278 during 2014 - 2015. A maximum peak at 4600 is to be expected followed by the final blow of -65% for a 1600 low. This must be the permanent bottom for the 2018 - 2019 bear market. What follows after is a lengthy accumulation and recovery period.
BITSTAMP:BTCUSDShort
by TradingShot
14
Bitcoin profit target reached, prepare for another bounceBuy above 14126. Stop loss at 13247. Take profit at 15391. Reason for the trading strategy (fundamentally): Bitcoin has been dropping strongly largely due to an SEC pushback that has led to several ETF proposals being withdrawn. There were several firms which were looking to list ETFs tied to bitcoin but the SEC “expressed concerns regarding the liquidity and valuation of the underlying instruments”. This has shaken the confidence of bitcoin investors which has led to the recent decline. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly below dropping down once again as expected. We look to buy above major support at 14126 (Fibonacci retracement, horizontal overlap support, bullish divergence) for a bounce up to at least 15391 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) sees strong bullish divergence vs price and is a good signal that we’ll be seeing a strong bounce from here.
BITSTAMP:BTCUSDLong
by MEX_Exchange
9
BITCOIN SHORT - BEARISH RISING WEDGE current $6130 30Oct17My BEARISH view of Bitcoin, as you are aware, is still firm and I have started acquiring my SHORT position from $6250 upwards giving a R:R of 4.6:1 Above 6100+, which as I write is where you can start shorting, IMHO. I am NOT focusing on timing so you must make your own decisions when to enter, given your own view on news events. If the trade, starts showing profitability, I am looking to MANAGE the TRADE during an ABC correction (future post). I am just telling you what I have done and given you guidelines. Now you decide what you must do. Sean Vengan 10+ Years Professional Trader and Trading Educator REALITIES IN TRADING: In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading. We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE. Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades). Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY. Always factor in "WHAT IF I LOSE MONEY ????" DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY 1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE 2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine. 3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service. 4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit. 5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis. 6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to. 7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted. 8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply. 9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned. 10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience. 11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive. 12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
BITSTAMP:BTCUSDShort
by UnknownUnicorn1063189
232
BTC short term, SHORT? or buy the dips!?Hello everyone! Below I have some logarithmic and some normal charts with their potential support levels. The main chart is my logarithmic BTC-e Chart, which last night held support perfectly. However if that support breaks, we are going to need other charts to get some entries/exits for our longs/shorts. My belief is that we are going to hold at 2200$ for a bit and that this could be good buy point or exit for your shorts. Like I said in my previous idea, the altcoin/ico bubble going down and the uncertainty (in a smaller extend) over Segwit and the Hardfork are the main reasons for pushing the price down at the moment. Until the situation gets more clear in about a month and we have a resolution in less than 2, the price might already be above 3000$. In terms of oscillators/momentum and moving averages, what I am seeing is that we have plenty of room to the downside, yet we are oversold. Even if the trendlines break, the first break is a buy the dip opportunity. The main trendline since March of this year is clear support near 2000$ and I consider that a great buy. Not a long term buy, but a buy that could give a nice 200$ run. Bitfinex should hold around 2150-2200$ Kraken - Short term 2200$ BTCC - Support at 17000CNY, but has broken all strong support. My exotic pairs index shows that we already broke short term support and have another 230$ to fall. My USD index shows that we are flirting with the support and we are about to break it. If we break 2300$, then we could go to 2150$ and and then 2020$
BShort
by BitcoinMacro
1
Bitcoin BTCUSD Sellit is a possibility to sell bitcoins now after that drop and a retracement. best look at price action to confirm a sell. open 3 trades not only 1. take profit of 1/3 around the low of the drop and move stops of the rest 2/3 to breakeven. take profit of another 1/3 around the red price trendline. let the last 1/3 run. if this is a start of a downtrend (yeah, i know you guys dont like that idea because bitcoins are so cool) then see you at 700$ or below. (this is not a trade call. do whatever your risk appetite allows you)
BITSTAMP:BTCUSDShort
by ernstschwarz
4