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BTCUSD Possible bullish Trend to 11200?BTCUSD Possible bullish Trend to 11200: 1) First, BTCUSD needs to aggressively break 7220 and test 8400-8500 Zone. 2) It will most likely get reject back down to 7222-7500, where it could find strong support. 3) With enough volume and momentum, BTCUSD could PUMP back up to 11200, which would lead alts to have some rooms to breath (massive gains for alts, from 100-300%). 4) All this is just probability based on the higher lows and consecutive 1,2,3 bottom formation that BTCUSD keeps forming, which is a good sign for reversal on bear market.
BITFINEX:BTCUSDLong
by Sen_Crypto
BTC Short term retracement $6100Btc/usd trend analysis: 3 resistances converging in the same zone, the Price touched $6421/$6431, where the 21 Ema of the daily Bollinger bands is and got rejected, there is also a yellow line resistance in the same spot, this line is the main downtrend line that it has been rejected the entire year, a little above that one we have another thin black deciding line that represents a small downtrend channel since September 22. In resume I expect a retracement to the low side of the BB and the blue line I've been talking about many days ago which is now between $6025 and $6070 (this can take a few days) - Trading Advice: Don't base your trade on the analysis, you have to make a strategy or a trading plan based in that analysis and always consider the possibility that if the analysis fail what would you do? If you wish to follow more frequent updates, t.me
BITMEX:XBT
by bitcoinwizard1
Potential Rounding Bottom For BitcoinOverall this looks like a potential rounding bottom pattern. Price action has been beautiful lately compared to the last few months. Historically 6k has been a well defended area for Bitcoin. Take into consideration that we have also set the first higher low of the year. Alts also seem to have potentially bottomed out. Of course there is no way to tell if they have & they might still fall but it is nice to see them moving along with Bitcoin as opposed to July when alts too major hits while BTC ran. I'd love to hear your thoughts and opinions on if you think this is potentially the bottom.
BITMEX:BTCUSD.P
by Bitdealer
1
BTC ... how low will WAVE C go??From 10k, we are in wave C of an ABC correction (see purple line) ... heading to the lower line of the triangle .... completing cycle WAVE E (red line). The ABC correction is comprised of a 5-3-5 sub wave system. Renko diagrams support that we have completed wave A and B of the ABC taking us to the bottom of the triangle (see my previous idea). It's possible that wave E extends past the bottom of the triangle, and there are three key support points, 6.425k, 6.00k and 5.45k. Plotting the impulse wave that makes up wave C gives clues to the bottom ... and 5.45k is possible. I won't get into much more detail, for fear of confusing everyone ... but my main point is, I don't think this drop is anywhere near over, unless massive manipulation steps in. To invalidate the continued drop, we need to really go above 8100 points ... while dropping below 7200 will confirm the continuation of the correction. Those are the key levels to watch. Anything, in between is gambling, with the bias being to the downside. Remember only a fool relies on one potential outcome. Do not use this info for financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
11
BTC ... does Renko hold the key to unlocking the wave count?Hello everyone. So there's been much deliberation over the wave count. Certainly the drop from 10k has had a few minor bounces, and it is hard to distinguish what is really completion of a wave ... which obviously impacts the wave count. So this morning I switch to Renko bars ... looks clear as a sunny day to me. Up to now, over the past 2 days, I've been wondering if we are forming a wave 4 now ... but I don't like what I see ... we are stuck range bound, no real recovery (I expected a bounce to around 7800 mark. The weekend hasn't provided any major support for the bulls, maybe a little rest (equally for bears!). Renko makes it clear ... we are technically still in wave 3, no confirmation of wave 4. Now, it could be a start of wave 4 ... but we have NO confirmation. That means, it's wave 3 until we have confirmation! So what can happen? Let's say Asia markets open up on Monday and they rally it up, thinking we have a temporary bottom .... then, we can welcome wave 4. But let's say the see weakness, and after closing shorts at 72XX, they decide 7600 is a great place to open shorts again ... continuation of wave 3, and the target is there, the bottom of the triangle at around 69XX. That would mean we should still form wave 4 up and another wave 5 down!! So we could have an extended wave E, past the bottom of the triangle, to do a double bottom test of 6425 (Bitfinex). So, there you go ... Monday morning in Asia ... watch it closely. Remember, only a fool relies on one potential outcome. Do not use this information for financial decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
11
Bitcoin bug zapper bottom theorySo I looked it over much longer, and I think this makes a lot of sense. These 2 blue lines have acted like bug zappers to Bitcoin. I think we will hit the closer one very soon. This will send us down to the long awaited double bottom of $6000. That rush is going to allow us to punch through the first line but we will hit the second line and the plummet like we have 3 times before until we hit that nice $3,000 that the whales have been waiting for (in my opinion). Once at this level, their huge market buy orders will trigger and smash through both of these lines and allow us to exit this descending line of death and on to a new bull run! Pretty simple huh? It makes sense to me. The only issue is where will the drop from the second main descending line take us.... once we hit that line we will find out very quickly. I like $3,000. I see a lot of support at $2500 as well as $4,000. Either way, I feel it will definitely be below $5,000. We have to hit the main resistance line in order to be sent down to our bottom. That should be very clear 3 days after we touch it.
BITFINEX:BTCUSD
by davidflana