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Boring Bitcoin Booooo. Actually, this is a very positive sign!Over a month since last update, and not really much has happened. This is GREAT news! We should be in the accumulation phase of this cycle where prices stay relatively stable (in between the red lines). People that have weak hands usually sell in this period because there's not enough "action" and bitcoin isn't going to go anywhere. The smart money start accumulating here when prices go down. I think we will still test at least the 3500 level (80%) if not the 3200 level (50%). Just buy the dip accordingly. Just DO NOT FOMO at 6000! Long term - Still the same as before. Accumulate and HODL The market has dropped 70-90% everything is honestly a bargain. Bitcoin is not going anywhere, if it would have died, it should have died the last time it went down 85% from peak in 2015. Every day that passes makes Bitcoin stronger. People say there is nothing behind Bitcoin and it is almost like a Religion where it only survives on belief. Only invest what you can afford
BITFINEX:BTCUSDLong
by ImpactDLT
Macro anaylsis of BTCBroad Market Update We're at a significant point in the market this week specifically, and through from now till Mid April. So pay attention. Use less volume. Use stops. And be ready for an over reaction in either direction. Make sure you're never more than 50% of your portfolio in Alt Coins. Make sure at all times at least 50% is in BTC. It saves you from over extending and then having your entire portfolio take a beating if the market turns around quickly. I've laid it out in a single chart what's going on and will explain each point. ~~~~~~~~~ Moving Averages: Death Cross (50MA / 100MA) Significant, as time passes the 50MA will get closer to price. And will act as resistance once we've covered enough time. Until Price is back above that 50MA, we're still bearish in the grand scheme. Bollinger Band (20MA) Significant, we've reached it now. We're just under it. Appears there is a lack of volume while we're at it. Unless we break out in the next few days, we're going to fall. And it'l most likely be the 200MA that we fall to. Also note the last time this same deathcross happened it was 2015, we also ran to the 20MA and failed and fell back to the 200MA. VERY SIMILAR. ~~~~~~~~~~~~ Indicators: Stoch @ 66.6 give or take has been support/resistance since 2011. We're coming up to it now on the weekly. Stoch RSI @ 99 give or take we're topped out on the Stoch RSI. Which means we have very little time left for any upwards momentum. You can also see 60 acted as resistance/support for a very long time. Pay attention as we fall from 99 and once we get near 60. RSI @ 41 give or take we're at a very long term support/resistance point for RSI. Most likely will bounce along it and get rejected by it. Which would mimic the phase 2 of the bear season of 2014 before the second major leg down.
BNC:BLX
by The_Paradoxed_Prophet
2
2.23.19 We OUT!!! of the barn but not out of the woods yet.We broke out of the descending channel (blue lines) really nice a strong and we've kept up the rally. The bull volume strength is fading a bit and shorts are gaining strength. We are going to face some major resistance at the pink line @ ~$4333. We just completed a mini bull flag with this last pop today. Set your stop losses if we don't gain serious momentum we aren't going to break past the pink line. Best guess (80%): we will float around this area (4134 to 4337) and when no big push materializes we will retrace back down to the top of the descending channel which was the resistance now is the support. We will wait and see. ETH really lead this breakout, I think people are really getting excited about Decentralized Finance aka DeFi from MakerDao and also Uniswap.Exchange. Really neat stuff definitely worth a look into, there are lots of possibility for the future or as you know with crypto it could crash and burn... but the cat is out of the bag now. Long term - Still the same as before. Accumulate and HODL The market has dropped 70-90% everything is honestly a bargain. Bitcoin is not going anywhere, if it would have died, it should have died the last time it went down 85% from peak in 2015. Every day that passes makes Bitcoin stronger. People say there is nothing behind Bitcoin and it is almost like a Religion where it only survives on belief. Think about it this way. US Dollars is the same thing. There's nothing backing USD except for the belief of the US Government. It says right on the dollar bill, "In God We Trust". You say oh we can change it for good and services... well bitcoin can do the same thing especially when you can just change it for USD or any other currency. Anyways enough of my rant. Long term, accumulate only what you can afford to lose. Good Luck, and BTW this is not investment advice.
BITFINEX:BTCUSD
by ImpactDLT
2.18.19 Locked and loaded target in sight!Looking at the 1D. We are pretty close to the target set after breaking out of the descending triangle pattern. The chart that I have been using is from Bitfinex. You might have noticed that other exchanges like coinbase / kraken / binance have a bit different charts that the one from Bitfinex. They are slightly different especially where USDT doesn't hold it's 1 to 1 peg. The reason why I mention this is that the blue resistance line that we are about to touch on this chart is lower on Kraken and Binance, and we've already crossed it. This is a bullish sign. Either way, smart move is to take profit as the target is almost complete, and then reevaluate when we get more data. I am still 90% sure that we've already hit bottom and will probably retest it at least once (~3200). I don't think we are in the bull market yet, I think we will trade sideways in between the pink lines. Where I would accumulate below the pink line and sell above it. Technical analysis are fluid, as things change the analysis changes. So stay tuned for further updates!!
BITFINEX:BTCUSDLong
by ImpactDLT
BTC Multiple bear flags + Falling wedge pattern = ??Marked in the black lines, you can see multiple consecutive bear flags that seem to be getting smaller and smaller. Those bear flags are incorporated inside of a falling wedge pattern. All this gives a good indication of a serious break out coming soon. Falling wedge pattern indicates a trend reversal and the target is the difference between the start of the wedge pattern. In this case it will be ~$526.3. If we break out around ~$3500 it should bring us up to ~$4000. Which also meets the downward channel that we are in. So Medium term, I expect BTC to rally to the blue line. Then from there.. if we can sustain high volume break out past the blue line, I believe that we have already seen the bottom at 3200. Will update after break out of falling wedge pattern.
BITFINEX:BTCUSDLong
by ImpactDLT