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Btcfutures

BTC/USD (Bullish pattern; target 8k?)BTC/USD Bitcoin proves today that the bulls are still interested in the market despite the whole sector's uncertainty. BTC is technically forming a bullish ascending pattern which has the probability of breaking to the upside if the flat resistance is broken with convincing volume. Trading with patterns without confirmation breakout is a high risk especially during this time. The safest way to enter this trade is to wait for the breakout confirmation Long position or if you want to be an aggressive Bull. Entering a long position with a tight stop-loss below the previous higher low at 6200 dollars.
BITSTAMP:BTCUSDLong
by PolarHusk
3
BTC/USD (Must break bullish or drop -15% below)BTC/USD Bitcoin is still floating inside this consolidation phase where the price is just trading sideways with a flat line of resistance at 6800 areas. The priority remains to the upside for as long the trend-line support and the 50MA on the 4H time-frame holds. No major red flags on Bitcoin but only showing some minor weakness because the longer BTC stays on this level the weaker it gets as the Bulls unable to break resistance the soonest possible to confirm strong upside momentum.
BITSTAMP:BTCUSDLong
by PolarHusk
5
BTC/USD (Bullish pattern; awaiting confirmation)BTC/USD Bitcoin is facing minor rejection at 6600 but the price action is trading above 100MA inside the ascending pattern. If BTC can hold this level for the next 24-48 hours, we could see a potential breakout to the upside as the bears failed to drop the price during its consolidation. A trading strategy here is to wait for the break of resistance and open a long position. The target is up to 8k price and stop-loss below 100MA.
BITSTAMP:BTCUSDLong
by PolarHusk
2
BTC/USD TA Update (healthy pullback?)BTC/USD BTC finally shift the 4H trend to the upside after making its 1st Higher High and currently topped out at 7100 areas. The bulls have a lot of room to establish its next potential Higher Low between 6000-5600 regions. We may expect BTC to hover within this area for the next 2-3 days before another attempt to push higher. The bullish scenario will remain intact as long as the key trend-line support will hold. No red flag today, bulls are patiently waiting for the next long opportunity.
BITSTAMP:BTCUSDLong
by PolarHusk
1
BTC Short term Pullback Presenting a Classic Long Pattern?How do we categorize the current pullback in BTC? All market movements under Elliot Falls into two logical Classes - Impulsions (Trending and Terminal Patterns), which occur in the direction of the trend. When analyzing short-term market movement, Impulsions can be monowaves. Corrections (Non Trending Patterns) which occur against the trend, or what we are seeing now with this corrective pullback. Corrections can also be monowaves but, if more complex, will generally appear as sideways consolidations on a price chart and are usually composed of three (3) segments. Or an A,B,C corrective waves. Conclusion: BTC is presenting some favorable Risk & Reward 1:4 with this pullback. Look to establish longs with STOPS well below 78.6% , refer to chart for price level. Important Takeaway as a Trader: Make an absolute, immediate decision on current and future market possibilities when the markets is presenting unique patterns to the application of the Wave Theory.If you are holding BTC longs, it increases your ability to determine when a pattern has completed. And the most important aspect of identifying Impulsive or Corrective monowaves is that it allows you the ability to deduce the trend of a particular market.
BLong
by wallstreetsharks
BTC/USD TA Update (bulls getting ready? 6k target?)BTC/USD BTC manages to break the trendline resistance at the 5k and keeping the price above it for more than 12hrs now. This is a good chance for the bulls to change the shorter timeframe rally going up. This momentum will remain intact as long as the price does not break below 4.8k because if that level is gone this will give the bears a meaningful entry to short the market again. BTC bulls need to keep this action alive for the next 24-48hrs and break bullish. Target to the upside is up to 6k. 6k levels are showing itself as a strong barrier for BTC since we have been rejected there twice for the last 4-5 days of trading.
BITSTAMP:BTCUSDLong
by PolarHusk
1
BTC/USD TA Update (Last Bullish Scenario?)BTC/USD After a massive drop we experience this week, BTC still manages to bounce right at the last trend-line of support which is located at around 4k. $4000 was also the previous resistance area of the ascending triangle that gives us a parabolic pump last 2019. If Bitcoin can recover a V-shape in the coming weeks or months. This potential inverse H&S has the chance to play out as long as this green line of support will remain intact. But this is still too early to buy Bitcoin. We must be cautious and wait for daily confirmation before entering the market.
BITSTAMP:BTCUSDLong
by PolarHusk
1
Bitcoin CME Futures TA Update (Price Gap? Must Fill?)Bitcoin CME Futures BTC CME opens the Monday trading with a price gap from 9100-8275 areas. This is a huge gap and the price is currently sitting at the key zone of support which has been the old resistance from Nov 2019-Jan 2020 trading history. If Bitcoin can hold this level for the next 24-48 hours. there is a potential to flip this area into new support territory. Also, giving the fact that all hourly time-frame has entered the oversold conditions, we may likely see a relief bounce to the upside and potentially try to fill the gap. Please treat this with caution as the bounce may happen is just a normal reaction, not true trend-line reversal. Further price action is needed to confirm a market shift to the upside.
CME:BTC1!Long
by PolarHusk
1
BTC Pullback Long Setup The most important aspect of identifying Impulsive or Corrective monowaves is that it allows you to deduce the trend of a particular market. When trading becomes personal, everything changes. Conclusion: Look to establish LONGS on BTC with STOPS well below the 78.6% retracement. Refer to graph for price level for 78.6% retracement. Due to Wave Theory's mathematical quantification of Mass Psychology, it allows you to experience the economic "boom & bust" phenomenon, as what we are seeing here in BTC with greater interest and understanding. KEY TAKEAWAY: All market action needs to be accounted for an classified to produce bankable interpretations. Counts should be built from the ground up on a "molecular" basis.
BLong
by wallstreetsharks