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Broke out of the short term downtrendLast night we broke out of the short term downtrend line and now still going up with support of the short term up trend line from decemeber 4 as talked about yesterday, will link yesterdays below. Now it gets me wondering if yesterday played any significant or we still gonna go lower. Bearish look we are still in a long term downtrend channel, yet bullish we are above the downtrend line from 14k. As of now new trading zone is 7201-7240 roughly. My goal is us to find support at 7201 which as of now we hit it 5 times with the red candle hitting 7240 than getting bounced off of 7201 as seen above. I'm still gonna long it and to determine if we are out of this mini bear market is a retest of 7562, the head of the double top that took us too 7079 before finding support at 7121 which we tested that 4 times. Than if we could break out of the downtrend channel which is getting smaller every hour, but as of writing this it sits around 7562 roughly and gets smaller every hour as we scaling up the short term uptrend line. Major resistance might be found at the hourly emas, yet there isn't much vpvr trading atm in where they sit at until the supports/resistance as I talked about above. Again good luck and hopefully 6500 was the bottom of our mini bear market adn 7079 being the final flush out.
COINBASE:BTCUSDLong
by nathanielx9
KEEP CALM AND ZOOM OUTThere isn't much to be said here given the very familiar yet healthy performance of Bitcoin price movement here recently. This also serves as proof that this bull market is totally different from the FOMO induced surge of 2017. No, currently the market is to me, much more stable, more reliable and truly holding up to bitcoins ultimate use case. For the most part we find alot of our support around the 11.1k area though it did quickly correct slightly lower and this is fine given the amount of increased momentum that brought us to our more recent surge allowing us to test as high as 13.2k. I've jokingly began to refer to them as "bull breaks" lol this activity seems to mirror last weeks movements very well and really flexes bitcoin's reliability as a worthy store of value. My advice to those fairly new to this aspect of the cryptospace is to relax and enjoy the ride. Take this time to educate yourselves on the basics of chart analysis, and the history of bitcoin's unique volatility, and ZOOM OUT. Notice that even though a lot of press from FUD to speculations about future movements is done on the small movements, its all smoke and mirrors to a point. Bitcoin's movement is definitely within and along the parabolic trend as it takes its graceful climb towards all new highs within the coming months. its often said to "buy the rumor and sell the news" and at this time i cant think of anything greater to keep in mind. Keep Hodling and happy trading once again :-)
BITSTAMP:BTCUSD
by abarnes90
Bitcoin and the Tether Fraud ..?! We are looking at the difference in price between BitFinex ($5400), CoinBase ($5100), and that's because on Bitfinex BTC trades against Tether not the real USD, and as the USDT price falls, the gap gets bigger. We are looking at almost $240 USD in price difference, and each time we have this, things tend to go sour for Bitcoin ( BTCUSD) Looking at the current price action , it looks like we are going to melt, because logically having this gap, plus the tether problem, is not a great sign for Bitcoin, but for the moment on the Coinbase ( you can use bitmex, its the same ) chart, we are moving on a channel ( check upside and downside rectangles ) Taking into consideration that we just tapped the lower rectangle, I'm on a short-term bias to the upside, and currently on a Long trade, looking for the price to continue to the upside. Downside targets, $4900 -$5000 - Would be taken into the consideration, if confirmed.
BITFINEX:BTCUSDLong
by UnknownUnicorn3394555
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