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BITCOIN PRICE WILL FALL A LITTLE MORE?Folks, Question; How much money have you made lately while being a ' trader' ?? Have you had the experience of beginning with trading and buying in to crypto not knowing what you were doing ?? But you made money and you thought wauuww this trading is easy, simple money.. And you really getting excited about trading. And you started to think you are really good at it. And then BAM you once made a losing trade and your good feeling was gone.. And you promised yourself you were going to study the markets, and trying to learn everything about the markets, so you would learn to know when to exit and entry markets... So you would ' never' lose again. This is all logic and human. But you (I) started out of ' I will let the market see who is the strongest' mindset and that my friend is a wrong attitude. You see studying is great. I am a big believer in knowledge. But I came to conclusion that knowledge is only powerful when it is studied for the right purposes. Look; The market is total neutral. It shows the open, high, low, close of the hours/days/weeks/months. That is the information.. But YOU interpret this information in a way your mindset is at that moment.. You give value to what you see on the chart. The market isn't doing anything to you, YOU do. When you want to become successful in trading you don't need to learn more TECHNICAL ANALYSIS, ELLIOT WAVES etc.. NO you need MENTALITY ANALYSIS!!!! Because the best TECHNICAL ANALYSTS can be the worse traders.. because you can read it but you have to set in the TRADE. and that my friend you do in your mind. I personally stoped being in the markets for making money.. of course I want to make money but that's not my drive anymore. I WANT TO BECOME A CONSISTENT WINNING TRADER. That is a whole different mindset because it allows me to lose and to make faults in trading.. If I put in 100 trades and I only win 30 but when I win I win 3 points = 90 points. And if I lose 70 but I lose only 1 point = 70 points I still WIN 20 points.. THE BEST TRADERS TRADE WITHOUT FEAR, HESITATION OR DISTORTION. The chart; At the end everything will be ok. But it comes down to if you are a DAYTRADER, SWINGTRADER OR INVESTOR.. For the daytraders I expect the price to fall back little and retest support before moving up. Just watch the other 2 bear traps.. High probability it will happen again. READ WELL I don't say it will happen, but there is a high probability. For swing trading I would wait before buying in.. Investor --> DCA / Dollar cost averaging...
by MoneyMakingMuro
1
How Much Will BTC Fall??!Looking at BTC again today after daily close and i was onto something when i mentioned earlier, about the bearish looking transition candle. Thought this sort of scenario was likely looking at how we couldn't break 50K and hardly the R2 resistance, Now we are seeing some support coming from February holding us up, it is really hard to say where i think BTC could land but i imagine it would be more than 5% from the recent top. We could see ourselves at the 45K level or even lower at the 0.3 FIB, im thinking due to the growing numbers of longs and being in extreme greed mode we are in for a decent sized pullback, to liquidate long positions, shake out weak hands, mess with emotions. Looking at the RSI we're seeing downward movement coming out of the overbought area and soon coming up on some support from the beginning of this month, we could see a hold up here for sure but keep in mind all that i just mentioned, also some support from the 50. point midline. Looking at the MACD we are seeing a bearish cross that recently printed and the overall structure of both of the MA's is falling slopping too the downside. keep an eye on this though, we have seen similar action like this like i talked about previously, we will know for sure when we start to see the histogram printing bars, if we see growing red bars we are likely in a pullback scenario especially if the orange MA is on top and we start to see big separation in them, the further they spread out the further away a bull cross is. Now the Wavetrend similar to the RSI we are starting to make a downwards move coming out of the sell zone, there's not much indication here on whether we are going to catch support or not, personally i hope we can see a dip i would love to scoop up some bags, Not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905
WAIT BITCOIN DON'T FALLL!!!!!!Folks, How you doing today?? As I am taking a more in depth look in the 4 hour bitcoin/usdt chart I see a Elliot Wave being completed.. And as we approaching resistance again we see prices tend to reject breaking out resistance (when writing). IF price tend to reject breaking out we will form a double top and that means high probability of a decline in price.. See the support levels where you can expect price to bounce back at. What do you think ? Like the content and feel free to comment... Follow me for more content like this to come!
by MoneyMakingMuro
6
Bitcoin is ready to fall.Hello! In my previous ideas, I noted that the next wave of decline will start either from the upper line of the downtrend channel or from the strong resistance I indicated on the chart. And now nothing has changed, the idea remains valid. The price has reached the horizontal resistance line. Therefore, I expect a move down from the current price to my old target of 22806. Information provided is only educational and should not be used to take action in the market
BITSTAMP:BTCUSDShort
by Yuriy_Kuznetsov
32
BITCOIN: 40K Rejected for now?BTCUSDT has a pretty bearish scenario overhead with the weekly support in the thick grey lines and the Ichimoku cloud. Volume is also not looking pretty good as it continues a downtrend since mid April, with a substantial loss since the january levels (marked with the horizontal line). Based on all this, we will probably experience a drop towards mid or even lower levels of this range 29K to 42K, considering how many times support has been hit, it could also breakdown. I advise caution to all traders. RISK MANAGEMENT IS KEY AS ALWAYS.
BITSTAMP:BTCUSDShort
by CryptoEstratega
[Detailed BTC Analysis] Sentiments changes but Technical don't!From the past 2 months, Bitcoin has been moving in the Bearish trend and the market sentiments were also bearish since then. When BTC closed below 50 Week EMA, Elon Musk, Jack and others announced the Bitcoin Conference out of nowhere which created a pre-event FOMO in the market and started turning the market green although technical where bearish in zoomed out view. Last Sunday, there was fake news about Amazon that they're accepting Bitcoin. This boosted the Bullish momentum of Bitcoin but I, as an analyst, am not still bullish. Below are the REASONS WHY I AM NOT BULLISH ON BITCOIN : BTC Divergence: Since the fake Amazon news pump, Bitcoin's price action is not corelating with Relative Strength Index (RSI). We are watching higher highs and lows in BTC Price while lower highs and lows in RSI that clearly indicates that the the Bulls are getting tried and we might see price drop very soon. Declining Volume: Although we have seen the volume injection in Bitcoin on Amazon news but since then, it's constantly declining which again depicts something is fishy. Pattern: With Bearish Divergence, we usually see a bearish-biased seemingly upward facing pattern. In Technical Analysis, we call it Rising Wedge Pattern. This is exactly what BTC is moving in. There is a wide bullish channel in which BTC is moving but with declining momentum, BTC is also forming a smaller, slightly tilted bullish pattern. If we see both channels in common grounds, a rising wedge can easily be seen. EMA & MA EMA moves more closely with the price action that's why it is more used to do technical analysis in short-term but Moving Average (MA) is used for analyzing long-term trend. BTC's 200 Day Moving Average is around $44700 so, I think BTC can go to this level and know that this level is HARD! In 4hour timeframe, 21,50,100 & 200 EMA are acting as potential support levels. If BTC closes below 21EMA in 4h, it will move down to the next. Cloud Resistance & Support In daily timeframe, BTC is facing huge resistance from the the cloud while, in 4h timeframe, $33000 is the strong cloud support. If you have any queries, comment section is for you. Muneeb.
by syedmuneebali
4