Get started

Btclongs

BTC Dominance (TA) is coming back soon - Edition 3Observations: 1) As per the chart, one can see previous support line on BTC dominance. 2) One can also just look at the ALT performances against BTC pairing and they have done well. 3) If we anticipate or theorise that BTC is about to make a break out, to the upside or downside, this will explain why BTC dominance is about to go up. 4) We have a converging downward wedge heading for a major resistance. Also indicated by the EMA ribbon. 5) RSI is almost hitting the bottom level, and in sync with the downward wedge it seems. If this makes sense, then one should flip to BTC soon or sell the ALTs soon. If you refer to my previous post on BTC, I explain why I think BTC is going up and this some how can fit into the hypothesis as to why BTC dominance is going to go up again. Ponder and act. Me personally, I'm following my own conclusion, which is buy in the accumulation stage (7800s) and sell (a portion) when I think we hit a major resistance. Note: Some ALTs like ADA, LTC, BNB etc will still do well. However if you recall, when BTC drops, ALTSs % drop is much higher. When BTC breaks out hard, ALTs get dragged along and many ALTs get dumped for BTC. I don't advise to change your ALT accumulation strategy but for those specific ALTs, BTC is a better option. Its not hard to figure out, just look at their BTC pairing and one can use this and BTC dominance chart to correlate and make an informed decision. Please like if you appreciate the post or agree with the TA. Cheers, SS.
CRYPTOCAP:BTC.DShort
by ssari
4
Bearish Wedge Plays Out Nicely! Here's what they won't tell you!WOOOOAAAH ! What a time in crypto. As I have lined out here the bearish wedge played out nicely and what a good time it is to be short. Market sentiment was rather bullish and as expected a correction was due. What kills me is the moon fans that seem to never learn but instead follow their favorite YT personality. The 2 scenarios I saw a lot on here was we are going to the moon or I'm shorting at 6k. Yet, when traders seem to have the same idea the opposite occurs. With so many traders waiting for BTC to reach 6k to short, the market proves it's time to start shorting now.Being stopped out several times during this uptrend it was the smarter move to keep entering short positions. The problem with new traders is first they're long then they're short what no clear direction of which way this market may turn. the typical mindset is I see A GOLDEN CROSS and now it's TIME TO BUY. After seeing this huge mega candle we shall see where the market takes us before entering into a trade. Take care and trade responsibly. - Meta
BITFINEX:BTCUSD
by Metaskriptz
4
BTC - One more impulse down likelyGood afternoon traders, After predicting another bearish impulse down in my previous analysis, I am predicting another one in the coming hours. I apologize for the messy chart, but your seeing what I actively use to trade, no cleaned up marketing material, the real deal. I am expecting some sort of significant move to happen within the next 12 hours. My bias is currently down, I will start with volume analysis: Since this is an active trade, I am using smaller time frames, but I will speak to the 4 hour after this segment. If we take a look at the three circles I've drawn on the chart below, we can see that we had a legitimate bottom buying at the first circle, a breakout attempt at the second circle, and what seems to be another breakout attempt happening now, albeit much less volume . The previous failed attempt you can see we broke down, I am expecting something similar to happen here in the coming hours as asian Monday session rolls around and the european nightly session ends. This leads me to believe that this will be the last upward thrust attempt, I have entered short, albeit a little early upon reflection. I will closely monitor the position to make sure it does not get away from me. 4HR Bearish Key Points: 1) Studying the 4 hour chart you can see we've entered in a flag range over the weekend, 4 hour lagging span has crossed downwards, which is what we can expect as the necessary thrust for the downward move within the larger impulse. 2) We are stalling at the .618 of the bearish impulse downwards (5136) , this tells me that another bearish impulse down is likely. 3) RSI is ranging, and is having trouble breaking its average, this tells me the bulls are not yet ready for a break upwards. 4) SlowStoch is signaling rejection of a bullish crossing. 5) MACD shows over-extension of the asset. It was looking to bearishly cross, but has re-accelerated, this tells me that the next push down should be powerful. 6) VFI is showing signs of flattening, and this will need to be watched closely over the coming hours, as this is generally my 'contrarian' indicator. Trading plan: I have entered into a short position, rather soon, but I will hold it. I have entered close enough to resistances that a 1% stop loss shall remain in place. I will look to target the previous low of the current bearish impulse @ 4934. If I see bullish divergences, I will exit the trade. If I see a high volume higher low, I will exit the trade. My take profit #2 will be the 200 day SMA . If all goes to plan, I will then look to enter long upon confirmation of the 200 SMA on the daily acting as support. Contrarily, The asset has shown to be extremely bullish since its break upwards. Any counter-trend trade, such as this, must be monitored closely for failure, do not short without stop losses in place. As always, if you like my content, please hit the "Like" and "Follow" button. Additionally, you can always receive my updates by going to settings, notifications, check receive email updates, and follow this idea. If you enjoy my ideas, feel free to join the Cryptocrew discord @ discord.gg to join the discussion.
BITFINEX:BTCUSD
by ant187
**BTC - 6400->STOP + LONG LIQUIDATION HUNTS->6100?->7000?**Please read this, this is long but its VERY comprehensive about what is likely to play out in the next day or so. Market is going to likely move big... Note: Hourly chart, Bitfinex exchange. Listen, believe what you want to about the price of BTC. The one thing that is for sure is that in the current channel (lower high, lower lows) we will go down to 6400. The EMAs, SMAs, RCI, Kumo twist and downtrend channel all point to the fact that we are going down to 6400. SO - let's pretty much call that an established fact. Ok, so the question isn't where we will end up here in the next few hours, the question is what will happen where this downtrend channel meets the end of its Elliot Waves in the bigger channel? ONE MAJOR THING TO CONSIDER BEFORE GOING INTO A LONG POSITION! And I hope that a ton of you think about this before going into a high leverage long position at the end of this channel. Its absolutely not a secret that LONGS have overtaken the SHORTS. Everyone is saying up up and away, I think there are SOME good signals to consider, but what you have to understand about the basics of these exchanges where you go into a leveraged position is that THEY ARE THE CASINO. Ok? You better be Warren Buffet to be able to out-leverage these exchanges, and guess what they have to do if more people are right then they are wrong??? That's right! They have to pay them. And let me tell you why these exchanges are considerably more dangerous than casinos: because they make the dice, they don't have full control of it, but they can tilt the table a bit to have those dice roll in their favor. Now just think about this setup. Everyone and their mother is thinking "BULL BULL BULL BULL - MOONSHOT MOONSHOT MOONSHOT" and they have already revealed their hand. Not so fast! First off, understand that these markets ***ARE IN FACT MANIPULATED*** PERIOD. They have already calculated and (even possibly working with each other) to tip the scales towards their profit margins. As much as they would LOVE to pay you for guessing correctly what the market "SHOULD" do, that's not how they make their money. They make their money by liquidating your positions, not by paying people out for getting the market right. And these periods of instability in the prices where it moves outside of the channel is exactly where they make the most profits. Could we shoot straight up? SURE. Exchanges lose a ton of money because more people are long than they are short. Do you really think that's going to happen? You'd be betting against the casino's leverage ability and their will to use it to make profit though. Ok, so they can't full out control the prices for too long, because money pours in with Market buys and starts manipulating them. They already calculated this in, they know generally what percentage will come in with market buys that they cant guess, and I guarantee you that it STILL makes them a ton more profit to lose some profit against the market to a certain price than it does to pay out leverage calls that they already know about (ie limit buys). This is how the exchanges work guys. they essentially GIVE YOU MONEY to put orders in a way so that they can see what people are going to do! (market maker rebates on limit orders)... Those that rush into a position as a market buy have to pay "taker fees". They throw pennies at traders so that we can all, in mass, show them our cards. Those that aren't willing to show their cards, have to pay fees because they can't guess what you're going to do, so they can't fully calculate it. Most advanced traders know this, but a ton of you out there don't... Now just start adding all that up. Here is my pure GUESS: 1) We hit 6400ish, we break lower. How much lower? Not sure. They take a TON of longs out by liquidating them (pure profit for them) and activate a ton of stop losses (some profit them) before they are forced by the market to move up because market buys rush in. This is my most likely scenario 2) We hit 6400ish, we break lower, the market gets spooked, because we all still have itchy trigger fingers from the bear market and we slide LOW... And I mean we retest 6100 for sure. 5800? MARKET IS WRECKED... BEAR season for a while again. Second likely scenario. 3) We hit 6400, everything goes up as planned. Everyone makes profits from all their long positions, everyone is uber happy, BULL MARKET in for good. Exchanges lose a ton of money........ Least likely scenario. Seriously guys, think about this. You're going to have to have a plan in place before stuff starts going wrong, having to make decisions on the fly almost always makes you lose money. As a matter of fact, I can tell you that a lot of traders that have been doing this for years are sitting this one out till we have a perfectly clear signal of where this market is going. Right now, it still ain't BULL season yet, regardless of what we all want. Enjoy.
BITFINEX:BTCUSD
by Zulu_Kilo
3
My prediction on bitcoin for the next few days. For those who doesnt want to read it all and doesnt see any arrows that i usually use, here are key targets. Price now - 6366 If we pump above 6400 i will try to add to my short position at 460-480, would be a great entry. If we jump from cliff and end up at sub 6200 and shorts will increase significantly - i will get a long position and prepare for a short squeeze. if we jump and just die without shorts increasing - i will probably add to my current short after we break 6200 and retest it. I dont see a single reason to go long now or add to existing short. If you want to gamble - short from 6390 might be a good play, same as long from 6290.
BITFINEX:BTCUSDLONGSShort
by DailyTradey
The end of the correction COULD be nigh Hello it's Mattress Mike with a view on the next few days; Now hindsight is 20/20 and we all make mistakes, the important thing is to learn from this. This is an important consideration when reading adive of the many armchair experts calling for sub $3k on the basis that they have been correct so far. But herein lays the problem that everyone is correct until proven wrong, there is difference between correctly identifying that we are in a downtrend from identifying when it will end. But I will say that anyone who says they are certain Bitcoin is going to move as they claim, often because they have a paid subscription service and are so brilliant at trading that they really need you to give them money right now, should be treated with a healthy amount of scepticism, some scenarios are more likely than others but at this point in time a compelling argument can be made for both the bulls and the bears depending what angle you look at it. So firstly I realise that my posts recently have been very speculative, but this is the situation we are in at the moment where we can only use ifs and buts, I feel very strongly towards staying neutral and trading the opportunities in front of you so here is the current situation in my own opinion; We have a few interesting things today; Bitcoin longs in a bearish ascending wedge shown above, we have broken out but I am not convinced this will last; Meanwhile we have Bitcoin shorts in a descending wedge which looks at risk of breaking down, although again I am not convinced that this is more than a shakeout and we will see it break upwards. So on the face of this it seems clear that Bitcoin is going to bite the dirt, right? Well it's not quite that clear cut. First we need to be aware that the masses short the bottom, we see it time and time again today is no different. Therefore a final parabolic rise of shorts is to be expected. The second and more important point I want to make is the current condition of the daily view of Shorts; Here we can see a more bearish picture where we have a failed break and is looking to close on a shooting star candle confirmation, suggesting shorts are running out of steam. The above leads me to conclude that we are near at least a local bottom but that we will see one last strong capitulation first, in part my reasoning is a combination of the strong demand zone we are entering as well as the condition of shorts overall, another failure of breaking the green trend line on the chart below will trigger a lot of late shorts and this combined with the daily bearish view makes me think that timing wise it will be a Monday reversal. This is of course only conjecture without confirmation, but I don't buy the narrative that we are going to simply drop like a rock as the volume tells a different story. Despite the negative price action volume is unimpressive which tells of course that buyers have yet to step to the plate in force, but also shows an interesting picture of when the big players left the market and are waiting for the right time to re-enter. Whether this will be a large bounce or simply a resistance test is impossible to say right now, due to the trend we have to lean towards it not being, but making early assumptions would be foolish at this point in time. We have strong support at around $5,500 and again at $5,300 so my eyes will be there to see what kind of reaction we get should breakdown further today.
BITFINEX:BTCUSDLONGS
by MikeLeChat
Bitcoin - Does any of this ring a bell... again Hello there, it's Mackerel Mike. Before I crack on I just want to walk you through what I just did. If you read my last update then you'll recall I opened a short to scalp a little, stop loss got hit and it was a sad time. Since then I reopened and caught the small drop with a bit of leverage a minute ago so it's fine I’m over it. Then I noticed something, I saw we hadn't dropped far at all and judging by the volume it seemed like someone must have found some spare change and a few beer bottle tops down the back of the sofa and decided to buy the dip... hmm I thought to myself, this is odd. I then did 3 things, I looked at the charts for Bitcoin Shorts, then I glanced at Bitcoin Longs... then I closed my short. If that was an alt, I wouldn't touch it with a pole. Now look at longs - I'm interested... Now before I go further I will say that I’m really perplexed by this bizarre bull vs. bear thing we've got going on, where if someone claims it's going up then they're a wishful child and if they say it's going down to far then they're literally the Grinch (Before his heart grew 3 sizes, obviously). It's a bit strange to think in polarized view when really all any of us can do is put forward cases on what is going to happen next. So with that in mind, please direct your eyes to the similarities I have stuck arrows next to on the daily chart... this is making me feel very uneasy with how well this fits into a possible play. I agree I think we need to go lower, but as we can see there was first a short squeeze before dropping again, looked a bit bearish before suddenly deciding on destroying every over leveredged short on the planet. I don't think I need to walk through each indicator and why it's significant but I would especially like to point to the drop off in volume. Whether you are bearish or bullish over the next month, one thing is for sure that we can expect a bounce. Now when we look at those indicators throwing of some mixed cross road signals and then take a look at the weekly chart, I become a bit biased of what direction that will be in... Here's now - Here is 2014 - which you cannot try and argue was not a more aggressive correction than we have seen so far... Note the drop off of volume, the difference between now and 2014 is I’d bet a lot on there being a lot more money waiting to enter the market than there was back then. We have seen today how tiny amounts of volume can move the market; now imagine what a chain reaction could be set of if there was a sudden increase. The final thing I just wanted to round off with was to take note of the thinning of the cloud at the end our triangle, now this of course changes nothing in real terms. But if you are telling yourself there is no chance that this could break upwards quite aggressively, you might want to keep that stop loss very tight. Personally I think it's time we tested the $7,000 and what happens after that we won't know until we get there. Cheers for reading. I'll give updates as they come along, it's hard to write much worthwhile in this market as we are at such a cross roads and I'd rather give an opinion than yet another 'could go up, could go down' waste of time. Whilst I’m typing this it looks like someone just managed to cause a very quick dip selling off the change they found in their car ash tray.
BITSTAMP:BTCUSDLong
by MikeLeChat
6
Finding the bottom and BTClongs:shortsThis elliot wave seems quite in play. I didn’t spot it but have taken the chance to showcase some great signal being confirmed on each wave. My wave 5 pans out different to who mapped this before me (sorry I can’t remember you, and I think he got it from someone else too lol). I’ve kept was 5 stunted because it is face planting into two support lines and has probably begun the accumulation phase: the ABC correction will be lost between the price moving between the two supports. If June 6th is indeed a significant date these support lines hold more value. The elliot wave plays nicely into the support line and plays nicely into April’s accumulation, which if we follow the fractal we should expect to see over the week. Though it is Monday tomorrow. If the daily closes on monday without much change I’ll be almost confident a week of shorting won’t be ahead of us. Though I want you to take a look at the chart below. This is what gives me confidence that our first major support will be strengthened here with a triple bottom. vvvv Short and long positions plummeted on April 12. Many of those longs had take profit close positions otherwise we wouldn’t have seen such a drop in the longs as well. Afterwards, longs stayed steady as the remaining positions closed better profits while the price climbed. Naturally we’d see longs increase during a bull run. Everyone that had shorted got liquidated. The whales here were the exchanges, just ask who profited the most off this? Not George Soros, as some believe because of his public statement the week prior, and people simply closing their shorts would not concatenate such an automation of bought orders. I bring this up because the natural cycle of 2018 seems to bring us to a crawling bottom again, as price is expected to complete this cycle and make another 1 month run. This chart shows us the stark difference behind the scenes this week and in april. Both Longs and Shorts have been steady for a while; neither seems to be over stretched. Volume is low, but slowly increasing (might be too early to call that). There’s a lot of uncertainty in the market right now (unlike April) - even if price moved suddenly in one direction there’ll be less impulsive followers to overextend that direction. Looking on a larger time scale we also see 2018 is nearing the end of a large wedge, driving volatility down. It is important to understand the volatility is reducing like volume, but it is reducing more. It is not due to as much a lack of interest in BTC as some might think, but more because of the squeezing of the wedge. The truth is, we are at a time where people can’t predict the next move with certainty. This creates a lot of impulsive analysis on Trading View. I might just be looking at the calm before the storm, but I think BTC holders who have faith in decentralised currency or just don’t want to see their investment opportunity go down the drain don’t need to worry right now. Looking at the charts, not much is happening. I personally would like to see the price continue sideways or make a 500 point drop down, that way there’ll be more signs telling me what will happen next. A spike up 500 will be a bull trap.
BITFINEX:BTCUSD
by MilkBread