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Bounce

#BTCUPDATE - 15.7.21 ARE WE GOING TO BOUNCE? No update on the bullish path from yesterday a bounce here will look to confirm a bullish H/S pattern and see a strong challenge of breaking the key $33k resistance. Losing the $32.2k here though could be devastating though - and a quick fall to $31.5k and then just losing support after support to $30.1k There has been a pretty tight consolidation since the rejection from $33k which suggests a big move incoming. We need to get above $33k to have any kind of foothold so right now it is bearish short-term still. My play is to long to $33k and then use a tight stop-loss - if we break $33k then an ambitious target of $34k. Losing $32.2k then targets are $31.5k , $31.3k and then a stretch to $30.3k.
by Kryptochristian
2
$CRV Fire Sale!Back with another $CRV chart lol. As you may know, price action looks pretty awful, especially for alts. I expect $BTC to break to the downside of it's current range and proceed to nuke the entire market with it. Although this unfortunate in the short-term, this will create some amazing buying opportunities for alts, especially those with good fundamentals. In this chart, I display the previous levels (orange box) which should serve as support as we head for further downside. I also show similar support levels (green box) that correspond to fibonacci ratios in accordance to the 5 leg elliott wave impulse for confluence. Knowing these levels, I plan on taking advantage of this buying opportunity at the $0.67 and $0.44 levels primarily, with some hail mary bids at $0.33. These levels should at the least provide a significant bounce to the upside imo. Regardless of the outcome, I am a long-term $CRV hodler as I believe the token is extremely undervalued, and still believe it will reach prices listed on my previous $CRV charts. As for the bullrun itself, although I may be overly optimistic, I do not believe it is over. Comparing previous bullruns, this being the end doesn't make sense to me, and instead I believe we are having a mid cycle correction/shakeout before resuming but only time will tell.
by DanielDimes
2
Volume Analysis: 💎 Bullish Whales - New ATH In Sight? 🚀Volume Analysis: 💎 Bullish Whales - New ATH In Sight? 🚀 "Last time when the volume was this bullish, it started an epic bull run." Our previous idea is still valid. It's another timeframe for the same idea. So, you can use the two in your multi-timeframe analysis about one idea. ◀️ KEY POINTS: Last Time When Volume Was This Bullish We Had The Most Epic Bullrun In History Yearly Bearish Channel Means Sell Pressure & Support At The Same Time Now The Price Is Bouncing Up From Legendary Yearly Support Whales Had Months To Consolidate Their Wallets And Emotions Already How many resistances will this bounce break? Where could a new bull run go? What is your opinion? See comments to see our Side!
BINANCE:BTCUSDLong
by Elysian_Mind
2
Possible Reversal points for BitcoinWhen we rejected at the 200 EMA on the daily, we didn't think much of it. We laughed at the death cross on the daily thinking it would work as a bullish signal, it did not. And now after China shutting down miners news and that big red candle close on a Monday, most people agree some further continuation to the downside is implied for the next few days. I hear too many people saying we are going to 20k, which really makes me think we don't go to such an obvious level that some people are begging to buy back at because they have already sold near the bottom. However, there are 3 areas above 20k that I see as support and potential reversal levels. The first area outlined in the green box is between our last major low at 29800 to 28800 coinciding with our January 21 2021 lows. I am also using the volume profile indicator on the right to find places for where there was a lot of trading happening and use those areas as support, although there isn't much at this level. it is also worth noting that this area would be a 30% down move from the last high we had at 41400. the next one is between 27700 and 26800. this one coincides with the January 4th low and a couple of days of sideways moevement. The volume profile is a little bit larger there than at the 29 k area but not as convincing as a support level. the third level and strongest of the supports is at the 24500-22900 area. the volume profile is pretty full there and there was a period of consolidation where we lingered for a week before Christmas. Also it lines up with a 40% move from the last high, and we know how bitcoin loves to dump 30-40% a few times a year. now anything below that, it would surely go straight to the 20k support level. But like i said, too many people are expecting it and the masses are usually wrong. This market is meant to be tricky and wash people out. And what a better way to do it than by making a new low, triggering a bunch of stop losses and liquidations, and trapping a bunch of bears thinking we are going straight to 20k. i do expect the turn around to be quick, and any big daily green candle and a cross back to the upside on the 12 hour stochastics would be a confirmation for a bottom and a huge bounce.
BYBIT:BTCUSD.PLong
by masterb369
BTCUSD$BTC is at a promising point! I'll help you read this analysis so that you can truly understand the current market structure. - Watch how $BTC broke out of that strong 4hr resistance, then came back to retest it. (We expect a bounce from that trendline) - Watch how it formed an uptrending channel, where it's continuously making Higher Highs and Higher Lows. (We expect this to continue) Should it fail to hold this level, then we look for the next support zone at 36,5k, if that one fails 35k etc.. If things go according to plan, $BTC bounces now, reaches the EQ (41k) of the channel, bounces back from there then continues up to 45k.
BITFINEX:BTCUSDLong
by OneEyeSignals
USDCNY to Fall Towards the Lower End of the Accumulation The USDCNY continues to find itself in a solid downtrend. This is illustrated by the ADX indicator, which has been threading above the 25-point benchmark since late September 2020. The ADX reached a peak around the time the price action fell to the upper boundary of the last Accumulation range at 6.4700. Afterwards, the price went on to establish a false bullish rebound. The latter materialised in a Dead Cat Bounce pattern, which typically represents a temporary break in the development of a broader downtrend. The pattern failed to strengthen above the 20-day MA (in red), which is why the USDCNY was then able to break down within the Accumulation range. That is why the strength of the underlying Markdown - an essential component of the Wyckoff Cycle - appears to be waning down, as underpinned by the ADX indicator after February 2021. This represents an early signal that the USDCNY is once again getting ready to consolidate in a new range. Before this can happen, however, the price action looks poised to fall to the Accumulation range's lower boundary at 6.2650 once again.
Short
by Trendsharks
Bullish on Cryptos recoveryHi, The sellout was expected and I presented a basic chart for BTC months ago based mostly on a macro view showing that. Now the same way I was bearish then, I am bullish now. I think in the year of trillion dollars per month printing, there is no reason why cryptos would keep selling here. As you can see in the Total Market Cap chart, we have not only hit the 50% retracement from the beginning of the last impulse since last year, but we are also bouncing in the 200sma. That is quite a combination IMO. I think we will trend higher from here. We will see if it does soon.
CRYPTOCAP:TOTALLong
by Allenvik
1
The 'Dead Cat Bounce' ScenarioPrice has been unable to rise clearly over the 40k level. Good news is that it almost reached 40,500 today before finding resistance to drop below support at 38,500 At this stage it is important to see Higher Lows! This means that if the price drops below the 36,000 level we run the danger of seeing a further drop / in this case the rise from 30k to 40k levels will simply be classified as one (Dead-Cat-Bounce) and we could be prepared to see a further drop to 30k. Am I bearish now? No, I am still bullish but I also need to do what the chart commands. Right now we must be careful, if 36,000 is breached under we will be worried/turning into sell positions. For the time being I have reduced my sell positions and opened some hedge positions (25% sell 75% buy). Hope it helps, the FXPROFESSOR
by FX_Professor
14
Bitcoin: Time for a bounce?If we break the local downtrend line, it is possible Bitcoin could go high enough to try the resistance at around $54k. Do you think it'll happen? Let me know in the comments! :) Coin Metrics: The most recent price of BTC at the time of writing is: $36294.25. The 200 Simple Moving Average (SMA) is at: $40353.3. The percentage distance from the latest BTC price and the 200 SMA is: -10.0%. A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further. Average Candle Height (ACH) for BTC: 5.7%. Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like XVS can have 15% ACH or more. --------------- Happy trading, folks! Please like and follow if you'd like to see more of my content :)
BITSTAMP:BTCUSDLong
by Evermore
2
BTC Turns bearish on Daily - ShortBitcoin has dropped below the 20week and 200day moving averages for the first time since April 47th, 2020. With a triple bearish divergence, a break of the pitch fork trend and floating below the 20wk MA..I cannot help, but read this as bearish in the short term until we secure a weekly close back above the 20wk MA. Not sure how much lower we could go, there is no telling. How much longer until we reverse, unsure. Is this the end of the bull run? I don't want to believe so, but you cannot deny the chart. There is aways time to return when the whales give us a bullish sign that things are reversing, but I don't see on the chart right now. I remain bullish in the LONG. This is not financial advice, It is only my opinion.
COINBASE:BTCUSDShort
by MFGroon
Gotta love those dipsSo price has seen a huge reset and we might as well not be over with it, is 30K our bottom? one thing is sure, if it want it can drop even further... What are the good news though, it's a hell of an oportunity to buy cheap, if you want to be in the crypto market, you need to be ready for this kind of movements, it's not easy, I know, but this is not for the faint heart. If market makers are happy with the drop, then we will see an amazing bounce. If you have been trading for a few years already, then you know how this things work out, if you don't welcome to crypto. This is not financial advice, this is just a kind reminder of the intrinsic volatility this market has, right now, we could have just seen the worst of it as well as it can continue, just keep calm and watch the smart money play.
BYBIT:BTCUSD.P
by DonTuzi