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Bitcoinshort

CREEPY**Look at how the 1-2 year bull markets are exponential, but the larger trend is logarithmic!! Which kind of makes sense since they're literally opposites right?** The more I look at the long term BTC chart, the more I think I should stay the heck away from crypto. But I love some of my alts so I'll definitely keep my XLM, EOS, LINK, MANA and some others, but idk guys and gals..... This creeps me out. The % gain so far for this cycle is nowhere near the past ones which is bullish. But something tells me people are toooo confident in crypto. BTC was a great investment when everyone thought it was a joke. Now everyone thinks its the answer and just say "Diamond Hands". Well guess what bud? You know how long it takes diamonds to form? You know that they form from black crud under massive amounts of pressure and energy? I'm sure all of your hands will be diamonds after the pressure of this cycle reversal melts your faces into the ground.
INDEX:BTCUSDShort
by MonetaryRebel
3
BITCOIN - Is it over yet?! Make it stop!I'm sure many of you are tired of seeing BTC dumping, but I think we might be nearing the end of the downward price action for the near future. Overall, BTC has dropped 35% since its April 14th high of $65,000 and this latest plunge has lost 28% within a week. We can see the dumps are getting shallower which might suggest seller exhaustion. Right now the price action has been contained in this pink wedge I have outlined as it sits on lower channel support. I see a couple scenarios from here. Either: 1) Support holds and we break out to the upside of the falling wedge, 2) BTC breaks through the channel and catches support on the falling wedge where it bounces around $40k, or 3) we break through both support levels and move on to the $38k and lower levels. The lower we fall, the higher likelihood we wick. We have already fallen a significant amount, so I don't think we have too many more days left with the bears in control. Many alts vs BTC have very bullish structures forming, which also indicates to me that the worst might be over soon. I will be ready to jump into them as soon Bitcoin finishes its corrective ride down. Until then, I'm keeping my shorts and money in USD.
COINBASE:BTCUSDShort
by jpbrown1023
3
BTC/USD: Looking Bearish (short term)Overview: As many others might suggest, BTC's bull run and dominance has seemingly come to an end . Personally, I believe this was long over due. Its technology as a whole is fast, secure, and reliable; but when considering BTC relative to the thousands of other cryptocurrencies it is superior in popularity but not much else . Elon Musk recently commented on BTC's energy inefficiencies, as it is very costly to mine, and the negative effects it has on the environment. While he is a public figure, do not be so foolish as to think he is the one who is responsible for BTC's retracement... BTC has grown exponentially over the past year alone. It deserves a consolidation period and time for reconsidering its energy consumption. Elon is only pointing out what most of the experienced crypto traders already knew. Comparative Analysis: BTC's Dominance (shown in orange) you can see has peaked at the beginning of 2021, with a high of ~70%, and has gradually been tapering off to almost 40%, as of today. The Total Crypto Market Cap (shown in purple) has closely correlated with BTC's run. This was true until May 4th (highlighted in yellow) when BTC's dominance moved less than 50% and we see this correlation die off. Technical and Fundamental Analysis: Technical: BTC is started to look bearish on a decreasing monthly volume, reaching its March lows. BTC is starting to look bearish as it retests March lows. Could see lower lows if it fails to rebound on the retest. If we see a spike in volume without it rebounding back towards VWAP, BTC may be especially bearish short term. Looking at the Volume Profile (VP) the price level with highest volume is shown at ~$18,500 and this is where BTC might be headed Fundamental: Just looking at the energy efficiency of BTC, things look quite bearish. However, BTC adoption among investors, banks, the general public, and merchants is increasing rapidly. This is good news as BTC should start to stabilize and become less volatile. With the largest crypto market cap, ~$1 trillion, it likely wont see much growth in BTC until ETH, DeFi, and the other sectors within crypto catch up. Trading Discussion (NOT financial advice): Watch for lower lows and monthly volumes. If BTC gaps down in the coming weeks it may be wise to hold until it flushes back upwards and sell afterwards. There are many opportunities for growth even if BTC is bullish. For BTC lovers & HODLers continue holding as you please but do some research and see what developers are working on. If devs are working towards switching BTC from PoW to PoS or some other energy efficient protocol for validating the blockchain then see what that timeline looks like. If BTC does migrate to PoS then decide a good entry point right before the protocol is scheduled to migrate and you might find yourself in a great position for another bull run in the future. Chart Description: Symbol: BTCUSD Index (Bitcoin price in USD index) Comparing Symbols: CRYPTOCAP BTC.D (Bitcoin's % Dominance in Total Crypto Market Cap) CRYPTOCAP TOTAL (The total market cap of all cryptocurrencies) Indicators: Log scale Volume w/ 30d MA VWAP (anchored on the monthly) Volume Profile (180d)
INDEX:BTCUSDShort
by BowTiedJoe
Bitcoin Downtrend Is Not Over Yet - $42000 In Sight.A quick look at Bitcoin's 4 hourly price chart reveals a complete five-wave impulse followed by a three-wave correction. Taken together, the two patterns form a textbook Elliott Wave cycle, labeled i-ii-iii-iv-v-a-b-c. According to Elliott Wave theory, once the corrective phase ends, the larger trend resumes in the direction of the impulsive sequence. BTCUSD Is Setting Up for Another 20-35% Drop “Three-wave” is the keyword here, because it seems that Bitcoin's correction did not end in April, but is still in progress. The initial sharp selloff, which erased 27% of Bitcoin’s market value, is labeled as wave (a). The current rally to $57430 so far must then be wave (b). It follows that another notable decline can be expected in wave (c) before the bulls can really return. Since wave (c) is supposed to breach the bottom of wave (a), targets below $46900 a coin make sense . If this analysis is correct, Bitcoin investors should brace for another 20-30% drop. In fact, the price seems to be approaching a key supply level and we could see a reversal soon. Rally above $64952 will invalidate this analysis. Below is my long-term analysis of BTC that I published on the 23rd of February. "Bitcoin Carries Very High Risks Above $60,000" What's your view on Bitcoin? Let me know in the comment. Thanks for reading, Veejahbee.
Short
by Veejahbee
2
Stilll Watching 👀 BTC Fall 📉Crazy dumps turned to pumps at the hands of who??? Most are shock by the K-study ran by Tesla or whoever lol Idk Idc truth be told down is my view and has been the case even to a fault for awhile as anyone following would know. lol Simple risk management can allow both sides up or down to remain irrational longer than someone can remain solvent on the wrong side until proven right. LOL it's never really an attack on Bitcoin I actually love it but understand that I don't need to only ever be long and hold to be bullish but if I build up a position in something I built that position with an intent to realize gains and profit. Only I don't publicly declare "ok, I am buying now" and then 3 month later say "Sorry guys it was just test for when I really wanna dump on you.." lol 😭🤣😐 #TheyBuyLambos 😂 #lambo? All this time I have been saying #LandThough 🏞🏠🏘 LOL What are your thoughts? Is it bad that people like to realize gains say "Cool! More Dollars now!" Or am I really the only person that's down to pull profit and even short a lot??? LOL No advice to give just thoughts that I can't shake after the last 6 years in the world of "CRYPTO" Bra "KEEP CALM AND MANAGE THY RISK!" 🤓
COINBASE:BTCUSDShort
by BradySWilliams
15
BITCOIN - The Bears Have Taken ControlI decided to use the BTCUSD daily chart because I think it starkly depicted the reversal in momentum between the bulls and the bears. For the past year, BTC has been on a torrent bull run from $3,750 to $65,000. You can see that we consistently made higher highs and lows in price action and the MACD remained above the zero line for the entire run. However, everything changed after hitting $65,000. Bitcoin broke the ascending channel it had been moving in since October 2020 and made a lower low for the first time in a long time. The MACD strongly broke support and the zero line thrusting all that bullish momentum back into bearish territory. As a result, I am shifting gears on BTCUSD from bullish to bearish. That is not to say that BTC can't revisit $60,000 again. I am just adjusting my sights from higher highs and lows to lower highs and lows. I think the long overdue correction is upon us and I will be preparing for it as such. I am targeting $35,000 - $40,000 where there is strong support. It also coincides with where the price action could catch support with the bullish uptrend in pink. All in all, I think this is the correction Bitcoin needs in preparation for its next move up. In the meantime, all those alts that have been suppressed by Bitcoin's massive run can finally have the weight taken off their shoulders and make runs of their own. I think Ethereum will be leading the way and other alts will follow. So while this correction might be bad for Bitcoin in the short-term, I think it's good news for the rest of the market.
BITSTAMP:BTCUSDShort
by jpbrown1023
9
BTC got stuck in TRADING RANGE ZONEGreeting from IRAN to whole trading community 💙✔ BITCOIN started an uptrend since early 2021 , and managed to achieve new ATH in 14th April But after that we witness a massive SELL-OFF in BITCOIN which affected whole market Uptrend has broken and price dropped under 50K Bitcoin dominant dropped under 50% as well that was the lowest spot since 2018 After that BULLS came back to the market and rose the price above its major resistance/support level 52K At the moment price got stuck in a trading range zone (Yellow rectangle) Breakout in each side (TOP or BOTTOM) could make us a great opportunity to long or short Price lower than 52K ==> Short Price upper than 58K ==> Long Let see whats happen next , What's your opinion about BTC next movement BEARISH or BULLISH? KEEP IT SIMPLE :)
by nima-mohammadkhani
4