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Bitcoin has formed Butterfly on 4 day chart | Upto 59% potentialAs in my previous chart of Bitcoin / US Dollar: I said that if the price action will break down the PRZ area then it will form bullish butterfly on 4 day chart and now the price action has broken down the PRZ and entered in PRZ area of 4 day chart. Now this PRZ area should be used as stop loss point in case of complete candle stick closes below this zone. This time we have 200 simple moving average support within potential reversal zone and 100 SMA support below the potential reversal zone and incase of golden cross between the two moving averages a powerful bullish divergence can be triggered. Volume profile is showing less interest of traders at PRZ area, but Stochastic did not give bull cross and MACD is strong bearish so for secure trade we should wait for MACD to turn weak bearish or for stochastic to give bull cross then take the long position. I have used Fibonacci sequence to set the targets. Buy between: 8166.12 to 7038.67 Sell between: 9058.05 to 11193.73 Regards, Atif Akbar (moon333)
BITSTAMP:BTCUSDLong
by moon333
4
BITCOIN ISN'T AS HUNGOVER AS YOU AFTER JULY 4TH WEEKENDHi everyone Hope all had a safe and celebratory July 4th weekend. You maybe tired and hungover, but I am of the belief that BITCOIN IS NOT. I think it is gearing up for a bullish run of around 15% during the start of Monday and into the work week. We've seen some price consolidation since the June 26th highs of 14K with increasing volatility we haven't seen in a long time. BTCUSD traded in the range of 9.7K and 13.8K during the span of 11 days. I think we have ourselves a textbook symmetrical triangle pattern with price set to breakout into the green while looking at the hourly. RSI is sloping downward indicating some selling pressure and volume is down overall. I think with short-term MA above the long-terms (25 & 50) on Monday we will see a turnaround in confidence and price will continue the bullish pattern that was begun on July 2nd. Let me know what you guys think! Thanks so much!
COINBASE:BTCUSDLong
by StudyingCrypto
2
BTC at critical support Zone. Pump or Dump?Recently Btc dumped and we saw bearish sentiment in market. In Chart all important level is mentioned. It is holding between 3350-3370 zone. If we can hold this level for few hours we will start moving to 3500-3550 Level. And also BTC will have to cross 18d EMA to be bullish. If btc breaks 3500-3550 level again Market will be green and alts will start moving up. We will have to pick alts in Dip. I will be sharing alts soon on telegram channel. But if we break down this 3350-3370 level, again it will take us to 3150 level. Btc will reverse from there and alts will also. You can also use these levels for bitmex scalping. Like this Post.... Follow Crypto Treasure..... Follow on Telegram (given in chart above)....... Happy trading.
by CryptoTreasure
BTC - past and present comparison analysisGood day fellow crypto participants, looking at the past Bitcoin Bear-Market we can find many clues that could help us determine future price movements. Of course, I doubt that history will exactly repeat itself but it can surely give us some good reference points. So first let´s look at the RSI in 2014 where we made our first low at roughly the ~30 level region, then forming an ABC correction, wicking through the upper white trendline just to test the lower white trendline to come crashing down again and making a second low on the RSI and the price chart. That is where the ultimate bottom was formed in the past. Nowadays we can already see a slight difference to the past, like closing below the .786 fib. level. Nevertheless the resemblence is definetly there, like closing a few weeks above the upper white trendline only to fall heavily through it and nearing the ~30 level RSI region again. But where do we go from here? Altough I can say with confidence that we will likely go into a correction before printing the second low on the RSI (not saying that the first low is in yet) and the price chart to form the bottom that we are all looking forward to, I won´t predict where exactly since that is just pure speculation. For this reason I have marked the important support regions I will be keenly looking out for. I will say that the probability is very high to bounce off one of these levels/regions especially off these fib levels and blue boxes and that the chance that we fall below $1000 is very low. Well nothing is impossible but I will only be averaging down to around $900, if it really falls lower then I´ll maybe sell my house and car to buy more? Just kidding of course, don´t invest what you can´t afford to lose. But seriously at what point would you stop buying Bitcoin $500, §300, $200, $150, $70, $0 ? The crypto market needs adoption, regulations, ETF´s, more real life value and at the pace we are going right now I really believe that it won´t take too long before seeing more and more signs of a new bullrun so I will audaciously say that we will find the real bottom in the 1st Quarter of 2019 and then slowly creep upwards. So that was my grandscale past and present analysis on Bitcoin, hope some of you might find this helpful. Feedback would be genuinely appreciated! Cheers, from Kaizer - Not financial advise, only sharing my thoughts here -
BITSTAMP:BTCUSD
by Kaizer1
4
BTC is RED RED BEAR BEARThe famous "triangle" many traders talk about. I'll be short and straight with my analysis. 1-Market is bear, it's been for quiet a long time now. 2-The blue descending trendline has behaved very nice on the last swings 3- The descending BLACK triangle I've plotted broke downwards. Keep in mind point (1) 4- I used keltner channels to show that the strong move was coming (unkhown direction) + volume breakout to show the strong movement downwards. 5-Important next level support is the orange rectangle. According to these 5 points I've made, I'll now procede to analyze further. There are many patterns according to my five indications that this market will continue to search for lower lows . However, usually after a chart pattern like this does it's move (descending triangle downward breakout) the market pulls back some (59% of the time for stocks,- The Encyclopedia of chart patterns) and keeps the direction until the minimum chart pattern target(93% chance of success) (3082 USD aprox, orange line inside the support area). Two more considerations before finishing my analysis. One, Fibb level 1.618 is very close to the current price at this time (4288 USD) , which is a very important level. Second is that you should have realized also that the level 2 of Fibb is inside the support area and very close to the minimum target of the triangle. Conclusion of what I'm doing. Waiting for the pull back, see if the market breaks above maximum high expected (Upper orange line) or second level ( Blue trend line ). If this happens, we'd wait for couple more signals before going long. In the other scenario we'd expect a clear price decline after reaching the two sections previously mentioned, this would mean a probable downward price continuation to the price zone I mentioned in the previous parragraphs. Note: The statistics I've used are for reference only and were obtained from stocks. They've been taken from The Encyclopedia of chart patterns 2nd edition, Thomas N. Bulkowski. Good luck and If you liked this analysis please give me a like, it'll be much appreciated !!
COINBASE:BTCUSDShort
by chemistrytrades
BTCUSD : Bitcoin / US Dollar Index XBT on a critical level Bitcoin / US Dollar Index XBT H4 chart The price is on a very critical level. I did draw everything on the chart Blue lines: Weekly resistance The thick red line below: An important and strong support The thick red line above: A large falling trend line ( this must pass in order for the ascension to continue strongly ) There are two possibilities; 1- He will rise up and return from resistance (more likely) 2- It will pass the resistance and continue to rise ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*** I'm sorry for the impaired expression..Just watch the chart, not what I write. :) PS make sure you give me a like, If you LIKE this analysis .... If you like most of my analyzes, FOLLOW me . Below you can see the symmetrical triangle formation in the weekly chart
BITMEX:XBT
by KasaDairesi
Bitcoin still looks bearish. - I hope this gets out quick enoughBitcoin looks quite bearish, just purely from a Wyckoff standpoint (still learning, just posting my ideas so I can track my progress with this new strategy) Does look a bit like redistribution to me, suggesting we have more downside. People can zoom out and see that we are forming a pennant, I agree with that as well, but just by saying it is a pennant doesn't confirm it's move to the downside. I'll be watching on the sidelines, without an open position, just waiting to see if this is redistribution or accumulation. Sooner or later something will happen. My redistribution reasoning is spelled out on the page. Let's see how this goes
BITFINEX:BTCUSDShort
by EnZo