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Btc-short

Short Term ShortThe market in general has lost lots of incentive to invest. However there are a few hands that move the market. It has been oscillating between highs and lows and now I expect the market to have a short term pull back. Here are the main reasons. 1) Volume is decreasing 2) Candles have touched the yellow uptrend line in the triangle 4 times already, potential inverse cup and handle formation. 3) Going back to the fact that the market lost a global incentive to invest, I still expect BEARISH ENVIRONMENT, EMA 100 and EMA 50 lines are consolidated with the candles. With the bearish market I expect pullbacks in this stage (in my previous analysis I longed the trade because the candles were way below the 2 emas. 4) MACD is not showing a positive momentum. Waiting for a pullback the next 2 days and depending on the EMA levels I will have long entries.
BITFINEX:BTCUSDShort
by Cincottitrader
Bitcoin Looking VERY Bullish? By the looks of this chart everything looks bullish. We have been making higher lows since January, a golden cross took place back in May and currently we are in a bull flag with a bullish engulfing candle. If you didn't realize already this is actually an inverted bitcoin chart. The whole chart is upside down. So really all the bullish stuff we see is actually we bearish. We've been making lower highs since January, a death cross took place back in may and currently we are in a bear flag with a bearish engulfing candle. Nothing about this is bullish at all. This is why my bias is towards the downside. Through making bad trades I've learned that the best thing to do is what the chart says. This chart is bearish therefore I will short bitcoin. If it looks bullish then I'll go long. Simple as that. In my opinion it's easier to see reasons to be bearish with an inverted chart. If you are bullish on bitcoin because of an ETF or some other big news then become an INVESTOR not a TRADER. As a trader this looks like a great opportunity to continue to short.
BITFINEX:BTCUSDShort
by Yo_adriiiiaan
9
BTC 4hr/daily Bounce Occurring. Looking for Weekly Lower HighI mentioned in my last BTC post that I was looking for BTC to set a higher low on the weekly compared to 5858 and then for bulls to take over to set a lower high. BTC is bouncing from 6119 and has changed the 4hr uptrend for the first time since the dump on September 5th. For me to be confident that the weekly higher low has been established and for bulls to have a chance of breaking the weekly equilibrium pattern I need to see higher lows and higher highs on the daily timeframe. So far we are seeing weak bull volume on this bounce and are testing the 4hr 55EMA, daily 10MA, and daily 12EMA. I am in short positions in some altcoins and will increase position size as BTC approaches the 26/55EMA on the daily. The area we are currently trying to move through has a lot of support/resistance price history from 2018, indicated by the red box. If bulls want to have any chance of saving the weekly equilibrium pattern, we need to see impulsive moves up through this area with more volume. I anticipate that bulls will set a weekly lower high below 7000 since the 6850 area has a lot of resistance (if we can even make it that far). After the weekly lower high is set I will look for a break of the weekly equilibrium pattern to indicate direction for the rest of the year. The weak bounce has brought the 1hr and 4hr RSI back above oversold levels, which can allow bears to more easily drive the price back down again if they show up. I have no interest in playing bullish because of the amount of resistance we have in the red box, even if we see a change in trend on the daily timeframe. Until bulls can break above 7429 all my positions will be shorts.
BITFINEX:BTCUSDShort
by UnknownUnicorn1304866
1
It took longer then expected but hey, hope you got my call! Dear Coconuts, Who nailed it???? Ok it took a little bit longer but still. We got back to my level cocopups, but be careful. ETF news is coming on the 7th and the 30st (most important one). Which I think all will be rejected and exchanges will make a lot of money on the way down again. Bears got back out of their caves, showing that the moon is still lightyears away. But perhaps it's just a healthy retrace, or this was it and we are going back to the lower levels. Honestly I don't know. But if you really want to know then I have to listen to my inner voice lol. I think BTC is heading towards capitulations. First the SEC rejects, mostly due to manipulation. Uhum, really, and the next day they announce to review the documents. Come on people, wake up. People that tell me that there is no manipulation have been living underneath a stone. Think from a perspective of a billionaire. Would you buy BTC at 7400 or at (Let's be conservative) 4800? That's a big scoop of difference. I can't believe ETF's will get approved by this year. Does that really matter? You could argue and say, "who cares about the ETF's, we 've been already towards 20k without them''. We got there because grandma, uncle, neighbours, generally all the people that didn't want to miss out got in. Ask around you, hey guys you should get BTC now, it's only $5850. Listen to what they have to say. Also we need to understand that the sentiment for the past weeks was bullish, still to much love towards BTC and no hate. Every trader that I know didn't knew exactly what would happend. Indicators where showing different signs, but we all saw the hidding bearish divergence. It was truly an interesting two weeks. Shorts got piled up, Tether was printed over and over again. Waited for the short squeez, didn't happen, then shorts got piled up again! We need a consolidation, not for three weeks, I'm talking about month and months. But then again I'm not 100% sure my dear cocofriends. We all have our own opinion and that's the beauty of it. So for now, never catch a falling knife, just keep an eye on the FIB lines. Probably we will create bearflags on the way down. Wait for a support is made. Usually we can play around them on the way down in combo with the ADX,RSI and MACd, but be cautious, use stoplosses. Big guys are in play! Enjoy this bloody day or not, I just hope you had a stoploss and took your profits.
Short
by LaszloHuiber