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Ascending Triangle on BTCHello Traders, BTC is forming a bullish accumulation pattern called Ascending Triangle and we have two possibilities to buy this asset, one of them is on the support of the pattern which is what is happening right now. And the other buying point is on the breakout of this pattern above the accumulation. But be careful Bitcoin is very linked with SP500 who is facing a FUD with the second wave virus fear. Push the like button and follow us on Tadingview.
Long
by MarketMinds
4
BTC/USDT we still in a bullish trendHello Traders All markets are going through a FUD moment with coronavirus fear, for those who are holders, take this time to buy more and dont be scared we still in a long term bullish trend! Here is a simple and clear anaylises of bitcoin, the price rejected the long term resistance line, we are correcting the last uptrend moviment, in a healtly correction, there is nothing to worry about, the price is making his path to test the long term Support line witch matches with 50% fibo retracement. As long as we stay above that support we are still in a bullish trend. Please support this publication with your like. You are welcome to follow us on the Tradingview. Best regard Sandro and Gustavo.
Long
by MarketMinds
BitTorrent Reaches Bottom? Change Of Trend Coming!BitTorrent (BTTBTC) reached bottom... This is the theme of today's analysis... Let's take a look. BitTorrent was launched/added to Binance and the opening price was 6 satoshis. Just two days ago BTTBTC hit a new all-time low at 5 satoshis, to me, this marks BitTorrents bottom. Once you are down, the only place left to go is up. You can't go any lower than the bottom... You can stay there for a while, you can doubt you can stop the growth... But once you are down, all that is left is to go back up. ----- Trading volume has come to a halt. While BTTBTC remained bearish, moving lower, there is no trading volume. RSI hit oversold. There are no sellers left and the RSI is already moving up sitting now at 42. MACD bullish divergence. The bullish divergence on the MACD has been building up since May. We are now seeing a young bullish crossover. Above-average daily volume. If you zoom to today's candle, the daily volume is going green and above average. Bitcoin strong drop had no effect on BitTorrent. Bitcoin made a huge retrace, great momentum on the drop for the past three days, yet BTTBTC grew in price or remained the same... This also happened for Wanchain and QuarkChain, see the charts below: WANBTC: QKCBTC: We reached the end of the road... For now, we buy and reload. It doesn't matter what happens at this point just buy and hold. Buy and hold, is all I say... We will see in a few short weeks when the market goes our way. Make sure to hit like to send over some of your love and support... We will do the same by sharing more content for you all. This is Alan Masters. Namaste.
BLong
by AlanSantana
25
Pigeon Delivery! Ok here is a coin I want you all to watch in this formation. We have a very bullish divergence showing but we are lacking volume. Here the volume is important to break high on this set up. Now if we break high of the triangle buy the first candle to close outside, if we break low clearly don't buy. If your holding this coin and we break low sell. After you enter (if we enter) please set your stop loss on the grey line. This takes away the risk, we will see the break in the red section of the triangle. We are in an upward trend here and have been for a while but we just need that volume to pour in for the next leg up. Cash Is king, loads of choice today, all trades are going great so we best enjoy the good times ahead. Trades are forming better whilst BTC stays in its channel so lets make hay while the sun shines!
by Cash-is-King
3
BTC – An exercise in recognizing trend reversals in BitcoinHi guys, welcome back for the big crypto show – today’s edition. In this post, I want to focus a bit more on how you can be attentive to potential trend reversals , via a method I’ve been using in some of my previous posts: the Heikin Ashi candle sticks, and more specifically looking at the Doji / Spinning top indicators. FYI: A doji candle is a commonly found pattern in a candle stick chart, characterised by being small in length - meaning a small trading range - and with an open - and close price that are virtually equal. FYI2: A spinning top is another Japanese candle stick pattern with a short body found in the middle of two long wicks. FYI3: Heikin Ashi candles can be found in Trading view under the candle stick section and by clicking the 4rd option; these work somewhat differently than regular candle sticks. -------- A previous post that is another good example of this is the one on ADX or the one on Cardano . First off, always best to start by drawing your overall trend lines, as well as your Fibonacci retracement levels. This way, you will also likely notice that these doji candles have a tendency to occur near resistance and support areas . This is quite logical, as we typically find a support somewhere so that we can lift off again from that point. However, even though likely straightforward now I mentioned it, it is a reflection that is not made quite often. For example, have a look at “1” on November 13th, near the red support line, we see a red spinning top popping up, signalling a POTENTIAL trend reversal . Two candle sticks later, the trend reversal is confirmed by a break-out of a previous resistance level (cf. Candle stick “C” breaking through the light blue horizontal resistance line). Now, the somewhat tricky thing here is that these dojis and spinning tops can generally mean two things: i) a pending trend reversal; ii) pure indecisiveness on where price should go next. To illustrate this, I highlighted some dojis that tell us there is a trend reversal (and remember that confirming a reversal via a break-out is crucial in that regard), and I highlighted some that merely show temporary indecisiveness before price continues in a given direction. Numbers 2 & 4 are clear examples of trend reversal indicators near a resistance (in case of number 2) or support (in case of number 4, where the preceding candle actually touched the longer term support line). Number 3 is a good example of sheer indecisiveness & nothing more. Now the big question is of course: what’s happening in number 5!?!?!?! We have just broken the red line as resistance & are likely going to have it act as a support in the short term. Moreover, the spinning top actually formed right on the Fibonacci 50% retracement level, which also acts as support. If you paid close attention to what I said here above, you know that dojis either will mean a trend reversal, and then we will have to wait for a break-out confirmation (and if that happens, best to get out in time), otherwise, it might simply be short term indecisiveness before continuing the move. Given the recent strong upward move of Bitcoin, the latter is definitely not an option to be left aside. Finally, if we look at RSI: the upward momentum got curved down a little bit. MACD on the contrary is still moving upward. As such, we are getting mixed signals, on the daily chart at least ;) Note that this post is not intended as a full price analysis of Bitcoin. It mostly aims to provide you an additional tool to apply in the future! Moreover, it is by no means intended as formal investment advice.
BITFINEX:BTCUSD
by A_Cryptastic_Mind
1