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Finally a Vague bearish pennant is on the board...Hy everyone, This @habib from Cryptobits. Today i have quick update about Btc/usd pair for you. Major trend : Bearish daily : sideways We have seen market hit 3200$ and retraced with good buyer's volume , unfortunately buyers were not able to compete sellers near 4000$ (roughly). Bears domination near 4k mark was an indication of more bearish sentiments in coming months. well that was just an indication but really alarming, after that 4k rejection is, bearish pennant. This is a strong bearish pattern if it come into play. if we break lower trend-line of this bearish pennant then for sure 2k is looming around the corner. Right now its not clear whether bears have potential of breaking this structure or not. But one thing is pretty obvious Bears are there in market and they will not allow bulls to take control any soon.If we break previous low of 3.2k (obviously iFF we break lower trend-line ) then you can expect an impulsive price action with huge selling pressure toward 2 to 2.2k. Don't get into this trade without confirmation so wait for confirmation (breaching 3.2k is a confirmation), you can expect good profit. Good luck every one. #TAYOR
BITFINEX:BTCUSD
by MHa888
To bear or not to bear? Unable to break any major resistance...Last TA i noted that we were touching the neckline of a down sloped neckline H&S pattern but we still needed more volume to break out otherwise it wasn't looking good. Unfortunately we reversed the uptrend by ~8% right now... womp womp womp. There is still plenty of fear in the market if we've hit bottom or not, which presents good buying opportunities when there is a significant drop. I think we will most likely retest the bottom @3200, the recent failed break out is disconcerting and does not bode well. I expected a down turn back to this level, but the fact that we didn't even touch the 4500 level is not a good sign. High probability that we at least retest the bottom, if there is significant volume we might break lower. Will update as we see more. Good luck and stay safe.
BITFINEX:BTCUSDLong
by ImpactDLT
BTC Volume overwhelming!! not really...Previous TA, I predicted that we would complete the right shoulder of the H&S. You could argue if you play around with the neckline that we've completed the H&S pattern, but the lack of volume on the right shoulder is very disconcerting. In order to break out of the H&S for a very decent gain, the volume has to increase on the right shoulder. If we break towards the bear side, I'd expect to retest the bottom. If we have a high volume break towards the bull side, I'd expect to touch 5600s. Either way I think the next move either to the up or down will be fairly significant moves (+- 5%) At this point I am winding down some positions and putting stops on both sides of the next move. Be safe is better than being sorry at this moment. 50/50 Not trading advice, and good luck.
BITFINEX:BTCUSD
by ImpactDLT
1
Will BTC complete inverse Head and Shoulders or retest bottom? From my last analysis, we broke out of descending triangle and hit target of $4000. I didn't think we would hold on to the support at 4000 for long, which IMHO is good to solidify the bottom. I still think we are going to be in the red line zone 3500 to 4500 for a while. But... Right now we are starting to develop the right shoulder of a inverse head and shoulder pattern. The right shoulder should have the most volume to break out of neck line from there we could test the 6000btc resistance. 80% I believe we will form the right shoulder and test the neckline at 4300. If volume picks up, then it is a very good chance we will break out upwards. 20% We go down from here to retest the bottom (not good scenario) Time will tell. Good luck, not investment advice just my opinions.
BITFINEX:BTCUSDLong
by ImpactDLT
1
Ascending Triangle on BTC/USDDid a TA on BTC against USD. BTC is at approximately $3,900 right now. It seems like there is an ascending triangle forming (depending on whether it will continue holding at this level. If BTC goes up to $4,050 (resistance point of the ascending triangle), i will consider longing it on bitmex. However, if BTC drops to below $3,800 and breaks the support of the ascending triangle, i might short it. Still awaiting confirmation. Although generally, the ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern.
BITFINEX:BTCUSD
by Trader_hao
1
$BTC "Bitcoin" - A picture tells a thousand words...Hey Everyone~ The chart is of BTC/USDT (Binance Exchange, so references to $ value is based off $BTC's value on Binance.) So we're here, we're at the make or break point for $BTC. We're currently in a massive wedge on the daily time frame. I believe we'll be waiting for the daily close (Due in 22.5hrs). Shortly after the daily close, we'll see some action. The daily close also happens to fall on a Monday (Australia), which is the weekly close. In this picture we can see many scenarios playing out.. The first one is the highly discussed Inverted Head and Shoulders Pattern. If we break to the upside and get a large injection of volume, we will have a successful play out of this Inverted Head and Shoulders Pattern. This does not mean we're automatically bullish, or will hold above. It just means, we broke resistance for now. NEVER BE STATIC IN YOUR STANCE, BECAUSE THIS IS NOT A STATIC MARKET ISN'T. Trade the trend. The second one is Fibonacci levels, and where confluence lays. Based on multiple layouts of Fibonacci, we can see there is heavy resistance around the $3,800 range. If we do break that, which is the 61.8% Golden Pocket, we could run nicely to $3,950. If this occurs it's the right shoulder completing, and we would have $4,841.80 as our target to reach. If we fall from here, the I H & S fails, so the minor confluence around the $3,650 range will most likely fail, and we'd see retracement down to the $3,400 range. If this fails, we'd be looking to retest the low of $3,156.26. If we have a look at the daily close we've just received, it was a bearish close with a failed attempt at breaking resistance. Because of this, we should be quite wary of $BTC's movements. I will be trading the trend. If we start to fall, I will consider closing some/all alt positions. I will consider moving my $BTC into stable coin/s such as $USDT and $USDC. I will open a short on Bitmex and trade accordingly. If we succeed, I will look to acquire more alt coins, ones I have been hand picking and waiting for this moment. Coins that will provide great returns like $AGI has for us recently. Congratulations to everyone who's been trading that with me. It really has been a pleasure to work as a community in making the most of this coin's bullishness. I will long $BTC via Bitmex and trade accordingly. If $BTC starts to reach high $4,700+ ranges and higher, I will start to look to average out back into a stable coin. I'm not convinced the bear market is over yet. The world is sick, markets are unhealthy and an economic war is looming between China, Russia and USA. Don't be a fool to think Crypto will be a safe haven, but nor neglect the fact that major companies are patenting everything they can to do with crypto and that big firms such as circle are trading OTC values of up to 24bill+.. There is a famous quote I love, "It is the mark of an educated mind to be able to entertain a thought without accepting it." It means don't be stupid, expect everything to happen, action whatever does happen. Which goes hand in hand with Technical analysis.. Chart everything, trade what plays out. Feel free to follow me at the following: Twitch: www.twitch.com TradingView: www.tradingview.com Twitter: twitter.com FB Trading Page: www.facebook.com FB Brand Page: www.facebook.com Discord Server: discord.gg
by The_Paradoxed_Prophet
3
Bitcoin (BTC) Possible dump followed by a rapid move up.Looks like a reversal structure. Bullish divergence and Bitfinex buy wall. There could be a quick dump before a rapid move back up. Long the dump once it bottoms. I believe the buy wall will be broken but they will pump the price up once that happens. Right now we are at a critical level, so a fakeout drop beneath could be possible. Thanks for viewing! This idea will be invalidated if we get a major move down, not just a quick wick.
BITMEX:BTCUSD.PLong
by HD1184K
5
The curious case of the bulls and the bears. The last analysis was right after the huge drop after breaking the 10 month descending triangle. There was a significant increase in trading volumes as is per usual during such a steep decline from 6000 to 3500 (~40% drop) in 2 weeks. In my previous TA I've always warned that we wouldn't see the real bottom until we have a significant volume break in the trend. The question now becomes, have we hit bottom or do we have further to go? No one really knows the answer to this but we can make educated guesses based on history and also current happenings. History is an indicator, but it never guarantees future results. Long term (3+ yrs) I still remain bullish. Short term prospects. Multiple indicators show that we've over sold. There has been no real negative news that hasn't already been absorbed by the market. The fundamentals of bitcoin are still strong. In the background there are lots of development in the lightning nodes. I expect a dead cat bounce back up to at least 4000 within the week or so. After that we will see what will happen. I do expect mid term to be stuck in a 3k to 6k range for a while until new developments come about. Do I think we've reached bottom? I think we are close but would not be surprised if there sharp sell off to hit bottom. Not investment advice, just IMHO.
BITFINEX:BTCUSDLong
by ImpactDLT
Bitcoin (BTC) Near lows again. Hold shorts but do not add. This could drop one more time, so don't close shorts yet, but If you decide to open a short here, be prepared for it to go against you. I closed my previous short already. Holding some as a hedge since I believe long term 3k is not the bottom, but I have bought a small amount and will add once we drop more. I believe there will be a move up once this completes. I don't know by how much, but probably not very. A couple % is the goal. It is a worthwhile to bet on this, but be prepared for a big loss. I will accept the liquidation of my long if it happens.
COINBASE:BTCUSDLong
by HD1184K
3
Bitcoin (BTC) Quick WarningI do not know how high this rally will go, but watching the orderbooks on Finex has led me to believe there is distribution again. If you are long, make sure you have a stop loss at a good point. I recommend below a sell fractal on a higher timeframe. Watching orderbooks has basically allowed me to predict every pump/dump so far, including the two pumps near the bottom as well as most the barts on the way down. Price may start heading down after this ends. Keep in mind I may be quite early, since this can have a final big pump. Not TA. You can outperform by trading alongside the big players with a hedge in the direction of the trend. Thanks for viewing!
COINBASE:BTCUSDShort
by HD1184K
4