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Some tiny Bad time for bitcoinHi all, I am back with new chart. I see some bad move coming in for bitcoin. I am not holding any bitcoin other than which I am holding for lifetime hold. Most of you know I am a lifetime bitcoin bull, however for mid and short term traders can expect some wick down from here or from price little above. Monthly chart is decisive for trends traders followed by huge sideways to take chances on dump. Weekly candle is definitely week and could lead to a mini down wick. 30 mins candle confirmed the dip however never trade such a small time frame. Trade Set up: Sell : price > 11260 - 11460 Target : near to 8.5-9k Stop /buy : not less than 12 K Best regards, Budha
BITSTAMP:BTCUSDShort
by UnknownUnicorn6209745
17
BTC: Revisiting The Larger Picture - How To Trade Bitcoin!First of all, congratulations to everyone may have bought the dip on our previous short term analysis on longing the market: Further continuing our analysis for the bigger picture, we may be about to face strong resistance, first followed by impulse intraday trading. The current catalyst may be due to Square having invested $50M into Bitcoin and now making headlines in the crypto community. While this is bullish for its overall fundamentals and future, let's not forget there were many times of bull traps with such news that led up after such a catalyst. Here I will be approaching with a small risky counter trade against the whole market, which may be currently bullish. Here is why a drop is almost certainly possible: 1. Extremely overbought RSI on the 1H chart, and can transfer over to the 4H. 2. We are trading in a large parallel channel that is now about to be tested. A much higher Risk Reward exists when we start approaching the legacy resistance trend line. 3. Previous fractal is printing a very similar picture before the major drop happened. These are all just observations and based on a series of evidence racked up from my own research! Trade Safe. X Force
BITSTAMP:BTCUSDShort
by XForceGlobal
8
BTC/EUR - still waiting for direction confirmationUpdate on the previous idea - as we can see, situation has not changed a lot. Price did not manage to break resistance, but also - it did not go down from it. So options are the same: If price will break the level and go up - then you can enter long position (stop loss should be below 9390 level, target - around previous high at 10500). If the price will not manage to break this level, most likely it will try to test support level at 8040 zone. This level is quie strong, because it stands from 30 April. If you want to trade Crypto with low fees - try Binance: www.binance.com Link to earlier idea:
by Camar13
BTC: How We Can Trade Bitcoin - Buy The Dip!Hello Traders! First of all, thank you so much for the support! Our community is growing ever so fast because of you guys! Here, I would like to dissect the bullish perspective. In my previous post, I did a complete rundown of a bearish scenario, but here, I would like to present a bullish case. Here is the previous analysis on my bearish case: Fundamentals/Technicals: 1. We can see that even after the Bitmex news and Trump testing positive for COVID-19, we can see a mixed balance of positive and negative investor psychology mindset. The markets were rather neutral, including those of equities and stock market indices. This is fantastic news for Bitcoin, because it just shows how much strength is actually within Bitcoin's price action. This can be due to the overall buy-ins from institutional and regular investors starting to believe that we may never see anything below $10,000. Although this is far stretched of a fundamental analysis, but many actually do believe this! Many technical analysts say otherwise, especially that we still have the CME Gap to fill (yes, CME meme boys, we here you!) 2. Keep it simple - there is now a rising BULLISH ascending triangle that is very prominent for more upside. 3. We have broken and re-tested the 618 fib level. This is huge, especially with two uneventful news that Bitcoin could've dropped a lot harder - especially that it's known for it's volatility. 4. In the case it does drop, we have a demand zone and buy the dip zone - RSI Bullish divergence on the 4H is showing more to be a higher probability! Trade Safe. X Force
BITSTAMP:BTCUSDLong
by XForceGlobal
4
BTC: How We Can Trade Bitcoin - Revisiting Bearish ProbabilitiesHello Traders. With all of the unexpected events for this week, let alone year, we have to revisit some of the key analysis for our current price action. With all bias aside, and taking into probabilities in terms of market psychology, let's take the time to filter all of the noise from any external events and talk pure technicals. Technicals: 1. We are trading within a larger DESCENDING bullish parallel channel, which can break out any moment; however, lower probability as of the moment. This is because we are witnessing too much resistance from 10.8-11K levels. 2. Possible bearish descending triangle at the time of writing. 3. Eventual breakdown from the 618 fib level would give us a MUCH higher probability of filling the CME Gap. 4. 200MA is creeping its way up, and a retest of this key support is crucial to Bitcoin's future. We can start looking for short positions near the top of this triangle, within, or a confirmed breakout below. Anything above $11,000 would be considered invalidated. Trade Safe. X Force If you guys are interested in a bullish analysis, please take the time to like the post and comment below with any criticisms or feedback!
BITSTAMP:BTCUSDShort
by XForceGlobal
15
BTC: Understanding Rising Wedges (Higher Probability Short Term)Here is a suggested theory just based on a single technical pattern that we love to play within the larger pictures for the small scalps / swings. Exposing yourself for the trade is a whole different topic, and how to properly execute it is a strategy that I can't really go into clear detail due to the deep diversity of these patterns; however, as we can see from all of the rising wedges that I have drawn out, we can see that it has always led to a minimum of a 1-3% drop, and if the price is right, a larger percentage. The Rising Wedge pattern forms when prices appear to spiral upward, with higher highs and higher lows creating two up­-sloping trend lines that intersect to form a triangle. Unlike Ascending Triangle patterns, both lines need to have a distinct upward slope, with the bottom line having a steeper slope. This pattern is commonly associated with directionless markets since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. There is a distinct possibility that market participants will sell out, and the price can move down with big volumes. Entries range ANYYWHERE from: Current price - $11,200 Anything above will be breaking structure and the continuation of a new bullish pattern. As for the current price action, we can start looking for short positions just based on this theory alone. Remember, exposure to the market and also maximizing profits is extremely comprehensive and risk management is ALWAYS key. Trade Safe. X Force
BITSTAMP:BTCUSDShort
by XForceGlobal
7
BTC/EUR - waiting for direction confirmationBTC/EUR - has reached resistance zone (9390 price). As we can see this level was broken on 28th July. And price managed to reach 10500 price. After it went back below 9390 zone, it did not manage to break it again until now. Best scenario at the moment would be to wait and look what will happen: If price will break the level and go up - then you can enter long position (stop loss should be below 9390 level, target - around previous high at 10500). If the price will not manage to break this level, most likely it will try to test support level at 8040 zone. This level is quie strong, because it stands from 30 April. If you want to trade Crypto with low fees - try Binance: www.binance.com
by Camar13
3
BTC beginning a new uptrend?If you like my TA or other ideas, please leave a like to show support. It helps me out a lot ------------------------------------------------------------------- On the higher time frame we can see BTC had a small rally up in the middle of september only to come down to our level of support. Setting a higher low. In order to believe the has returned bullish, we'll need to see BTC set a higher high just above our resistance zone around $11K - $11.3K. A retest of that level will trigger my longs.
COINBASE:BTCUSD
by Coinathlon
2
BTC: 20MA Importance - Why We May Be in for a Massive Bull Run Hello Traders, Today we would like to talk about one of the most important support lines for Bitcoin - the 20 Moving Average (MA). The 20MA has acted as major support in the past during the history of all the bull runs currently observed. We have had at least five different instances that took place in 2016 and 2017 where Bitcoin price collapsed back to the 20MA, and each bounce has given over 100%+ returns at a minimum, respectively. Each time Bitcoin has found strong support at the 20MA where Bitcoin has rocketed off to the next psychological resistance level each and every time. Vice versa has happened during the bear market, where it has acted as resistance. While we believe Bitcoin may be able to retrace, these small movements within the market has shown nothing but a 'buying the dip' opportunity on a consistent basis. Now that we are currently bouncing on the 20MA for the third time over the past three weeks, we can safely assume that this spot, especially at the $10,000 psychological support level, we can assume that this may be actually the last time we will ever see anything around the sub 10K levels. While Bitcoin has strongly recovered from the COVID-19 crash, we have also witnessed something very interesting with Bitcoin in terms of overall price action in the short term. Bitcoin has recorded the highest correlation with the stock market (more so the SNP500 (SPX)) ever since the COVID19 crash has happened. While we aren't sure for the exact reasonings, but this may be indicating that the dollar (holding cash) has become a severely important player within the market. This can indicate that a true recession is in play for the stock market; however, as Bitcoin has traditionally kept the ideal 'store of value' philosophy to many people since 2009, we have yet to see the immediate decoupling happen during the hardships of the Stock Market, most notably controlled by the COVID19 global situation. This is conjunction with our market psychology theory, where Bitcoin is now tending to move in correlation during bear markets with the SNP500, and decouples during bull markets. This is merely an observation, but from a visual perspective, we are seeing a true representation in real time with the stock market. Here is a graph from our previous analysis to show it: In conclusion, the 20MA has always acted as support and after three profound bounces on the support, we may be in for a treat for the upcoming months. This may indicate that the real bull run has yet to come. Trade Safe. X Force
BITSTAMP:BTCUSDLong
by XForceGlobal
9
BTC: 4H Bullish Divergence CONFIRMED - How To Trade Divergences!Hello everyone, although price has declined over the past 24 hours - we have suggested a possible bullish RSI divergence from our previous analysis and it's now in play. Divergences are one of my favorite trading concepts because they offer very reliable high-quality trading signals when combined with other trading tools and concepts. RSI bullish divergences will form when the price forms a lower low (LL), and the RSI forms a higher low (HL). This is a warning sign that the trend direction might change from a downtrend to an uptrend. The RSI divergence is a widely used technical pattern in crypto and almost always plays out on higher time frames. Using these strategies, you can achieve various RSI indicator buy and sell signals. Understanding when your indicator is high or low is important when it comes to interpreting divergences and I generally encourage traders to look beyond the squiggly lines of their indicators to explore what it really does. A divergence does not always lead to a strong reversal and often price just enters a sideways consolidation after a divergence. Keep in mind that a divergence just signals a loss of momentum, but does not necessarily signal a complete trend shift. Trade Safe. X Force
BITSTAMP:BTCUSDLong
by XForceGlobal
11
BTC Hidden Bullish DivergenceHere we see a Hidden Bullish Divergence on $BTC on the 6 hour chart! Great case to #BTFD Hidden Bullish Divergence: Bitcoin is currently in a downtrend in a larger bull market trend - and no one can deny this. As with each pullback, we are still bullish even if price reaches the lower $9,000 levels. We are witnessing a large hidden bullish divergence which may be a signal that the bulls are still strong within this slight downtrend. For a hidden bullish divergence to play out, the market needs to make lower lows and lower highs. In preparation for a reversal, it leaves a higher low instead of a lower low. Also, there could be a higher high or equal high. In this price action, if there is a lower low in the oscillator (the RSI for instance), it indicates a hidden bullish divergence . It signals that the price could continue to go up. This phenomenon happens when the technical indicator shows a new extreme, but the corresponding price action does not. While regular divergence often indicates trend reversals, hidden divergence tends to be a continuation indicator that shows when an opportunity to take advantage of a pullback in a trend may exist. This means that a trader can now choose to enter the market in the direction of the trend to profit from its continuation. We think this is a great opportunity to take a long if you are familiar with any sort of divergences. The hidden bullish divergence is a clear indicator of a continuation pattern, rather than a reversal pattern. This pattern can be negated any moment if the market decides to pull us further down, but that would create even a strong bullish divergence , rather than a hidden one! Trade Safe.
BITMEX:BTCUSD.PLong
by opsec_x12
BTC: Aftermath of the Drop - How to Buy the Dip (Trading 101)Hello traders! After yesterday's drop, we have witnessed a few interesting bullish developments that is counter productive against the main market sentiment. We are seeing a lot of bearish signs and from our last post, we mentioned a small correction that may happen due to the stock market; however, we can enter a long position here based on some of the bullish indicators. Hidden Bullish Divergence: Bitcoin is currently in a downtrend in a larger bull market trend - and no one can deny this. As with each pullback, we are still bullish even if price reaches the lower $9,000 levels. We are witnessing a large hidden bullish divergence which may be a signal that the bulls are still strong within this slight downtrend. For a hidden bullish divergence to play out, the market needs to make lower lows and lower highs. In preparation for a reversal, it leaves a higher low instead of a lower low. Also, there could be a higher high or equal high. In this price action, if there is a lower low in the oscillator (the RSI for instance), it indicates a hidden bullish divergence. It signals that the price could continue to go up. This phenomenon happens when the technical indicator shows a new extreme, but the corresponding price action does not. While regular divergence often indicates trend reversals, hidden divergence tends to be a continuation indicator that shows when an opportunity to take advantage of a pullback in a trend may exist. This means that a trader can now choose to enter the market in the direction of the trend to profit from its continuation. What we think: We think this is a great opportunity to take a long if you are familiar with any sort of divergences. The hidden bullish divergence is a clear indicator of a continuation pattern, rather than a reversal pattern. This pattern can be negated any moment if the market decides to pull us further down, but that would create even a strong bullish divergence, rather than a hidden one! Trade Safe. X Force
BITSTAMP:BTCUSDLong
by XForceGlobal
13
BTC: $11.2K Resistance - Laddering Shorts For The Larger PicturePlease feel free to like, critique, or even post your own thoughts! Bitcoin is currently facing strong resistance at 11.2K-11.3K levels, which is more than expected and not a surprise. Congratulations to everyone who has taken a long from our suggested areas from 9.9-10K levels. Here is the 'editors pick' post where we suggested a long from those levels: As the 'Crypto Fear and Greed' Index is now swapping bias to a more neutral sentiment, we are now also switching our bias to build up shorts here since the market is turning bullish overall. While we have been successful on our bullish case for the past week from 10K levels, even without filling the suggested 9.7K CME gap, we are now going to build shorts anything above 10.8K, until a clear invalidation occurs at 11.2K (a daily close above 11.2K is where we will completely close all short positions). Risk management is key in this area as a breakout to the upside is still possible as evidenced by our previous post. We were hoping for a stronger push to 11.4K levels to make sure the shorts were squeezed, but we were left with no follow up candle on the 4H. This goes to say, anyone holding a long position from 10.8K is still in the clear as the R:R from those levels are clearly there; however, anyone who is looking to build short positions is now starting to look better overall on the larger picture. How To Trade: - Watch for a close above $11,200. Daily close above 11.2K will immediately make us resume our bullish bias. - Rising Wedge is now more apparent and showing on the 4H TF. - This breakout was not as strong from a volume perspective; which may indicate that bears will be seeing this as a confirmation for an opportunity to short this area. Trade Safe. X Force
BITSTAMP:BTCUSDShort
by XForceGlobal
26
ridethepig | BTC Market Commentary 2020.09.15The entire crypto board has been well supported purely from an excess liquidity perspective and the value trap in the past few quarters, which has set the tone for the MT and LT BTC flows in general. 📍 As I understand it there are a lot of large hands caught short BTC, unless there is a big leg down in equities before ext week then we have room to complete the test of $12,000, which translates to a cascading of short coverings. Additionally, it feels like there is an underlying flow in BTCUSD from the MT and LT hands who know how to diversify and adjust portfolios to the present times. A lot of focus back on FED this week as the implementation of Keynsian economics becomes hard to navigate. Those who track BTC from an inflation perspective, will know that it is very odd since last time Powell spoke at Jackson and pointed towards tolerance for higher inflation (by default rather than by choice) the 5's - 30's spread has narrowed which is essentially screaming that market expectations do not subscribe to Jerome one bit. BTC (well better said, tech) is a deflationary phenomenon and points to a decent conviction away from fiat and towards digital money. Add to BTCUSD longs on dips towards $10,585.
BITMEX:BTCUSD.PLong
by ridethepig
5
BTC: Why There Is More Room For Growth - Different PerspectiveNow that we have more data points for Bitcoin in terms of closed candles, we can assume that this area is being protected by the bulls. While we have been analyzing numerous bearish cases, we would still like to show another probable scenario for Bitcoin on the bullish side of things. Technicals: - We are seeing another bullish ascending triangle which means that bulls are trying to not only keep the immediate trend line in tact, but also keep from price showing any bearish patterns so that bears will have to be forced to get squeezed one more time. - $10,800 - $10,900 regions is resilient. It's being held very strongly, and trading within another tight range. This means that bulls are still wanting 10.8K regions as a check point; however, if failed to hold, the bulls still know that $10,500 - $10,750 is another range of support. - A break above the original ascending triangle was incredibly bullish in the short term which led to the small rally we saw earlier. A break above and a retest of the resistance has made it a 'resistance turned support' area. Obstacles: - Low volume is an indicator that bulls may be getting weaker in this area, but with the right catalyst we can see a surge in price again. Either way, we can expect BTC to break down or up with significant volume in the coming hours/days. - We have a lot of trapped bulls at 11K who may want to keep taking profit there. Many are possibly on the sidelines waiting for more confirmation, but with any small bearish moves, we can assume that bulls will take profit at breakeven and switch to a bearish bias (switching to short positions). With all of these factors being combined, we can see overwhelming evidence that bulls are seeing this as a demand zone to buy cheaper Bitcoin. Two weeks ago, everyone was wanting a $10,000 Bitcoin, and this was the chance to buy. We must play the market like a casino. You can never outpace or beat the casino, regardless how good of a hand you may have. Playing along with the market is all we can do. Will this be the last time we ever see $10,000? Or will we continue the immediate downtrend to fill the CME gap at $9,700? Only time can tell, and we must take it step by step, day by day. We remain bullish in the short term and keep our positions from 9.9K, 10.1K, and until proven otherwise, we will immediately swap bearish if the market forces us to. Trade Safe. X Force
BITSTAMP:BTCUSDLong
by XForceGlobal
6
The kettle has been turned onBears are losing the attempt to play the downtrend and instead turning resistance areas into support,the channel has not broken and support still stands 10.6,10k.The accumulation over the past 3 months is setting up for a huge ending quarter for the market in my personal opinion. I think this test of resistance may be the right amount of pressure at exactly the right time for the bulls to break through. Weekly: Very short term bearish.10.7k-10.4k Monthly: Bullish trend occurring with increasing levels of volatility for Big 15 swaps.
Long
by Glo1235122