A Correction in the Short Term & Continuation of the BearsA correction is now at our doorstep. We are in day 4 of the recent bull run, which typically exhausts by day 3 or 5.
- Volume Divergence
- RSI Divergence
- MACD Divergence
- Long red candle forming on 4 hour
- Long green wick on the 1 day
- Elliot Wave complete
- Correction wave initiated
This is only a prediction off the TA I am currently viewing, which BTC has remarkably adhered to during this bearish market. Take it with a grain of salt and always do your own due diligence.
Btcshorts
BTC USD WHEN LONG ?BTC USD in 12h timeframe is situated into a falling wedge which means at the final will be a breakout,Usualy the price test this support of wedge three times and after will be a breakout
Stochastic RSI at 12h timeframe is overbought(they can go up from here a little but after will made a bear cross and price will come down in my opinion)
RSI below neutral zone
MACD bull cross but we haven t volume
When btc will come to 3050-3080$ we can open a long position for 3770-4000$ targetpoint which means aproximately 27.41% potentialy gains.
This chart it s only for an market update,i will NOT open any position in bitmex.
#Bitcoin $BTC shorts will be cut down to size before bottomAnyone who believes that BTC will go straight to a new low from resistance at $3500 should keep a close eye on the very high amount of short interest that is in play.
At this point we will likely see $3800 or 12% gains before a renewed crash and making a new lows. Another possibility is an extended horizontal move as shorts cover gradually.
Bitcoin Shorts approaching critical resistance levelBTCUSD Shorts (essentially traders betting that the value of BTC will continue down against the dollar) are rapidly approaching the 40000 level, which throughout 2018 has provided strong resistance and consistently marked the end of downward price action - and hence the beginning of the next uptrend. Although the Bitcoin market appears very bearish at the moment, with many expecting sub-$3000 in the coming weeks, it's worth keeping an eye on the shorts to see if they can help you predict when the bottom is about to occur.
As shorts are currently at 37455 (and 40719 was the previous 2018 high), we definitely have some room to continue up... and hence the BTC price down. But for how much longer? Let me know your thoughts in the comments below. How useful is the BTC Shorts chart to you?
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
Rising Wedge signals the end of this small rallyBTC is clearly about to break a very steep wedge, and that should take us at least to the 1 fibonacci level. We could take a very nice profit there and then let the rest of the position run. No volume since yesterday to keep this rally up.
Always use SL!
Follow me here and on twitter for more setups!
**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.
BTC USD FINAL DIP Prepare your money
BTC is situated into a falling wedge and i think it will go down from here to test 4788$ 0.236 fib support which is a weekly support.We need to test it ,to capitulate and after we can go up.
We have a lot of positive signs at 6k or below:
-First when we are dropped below 6k all time was too much buyers and the price was pushed above 6k fast,around 5000-5200$ institutions will buy BTC.
-To hold the price below 5k we need to have very little volume.Little volume=is not profitable for exchanges and also not for miners
-If you looked at statistics every trader know the mass adoption it s started(Check increase of BTC ATMs for exemple)
-We are near rezistence,it s crucial to break 7000$ to be bullish.
-In 26 OCT we have 9 ETFs and i think all will be denied or postponed
-In 26 OCT CME futures will expire which is bullish contracts,after we are bearish till mid november again
-We need to capitulate that s the reason why i think we are going down,capitulation must be part of market cycle
BTC SHORTS Different StoryMost important is to have a look at orange arrows and green circles to understand the situation.
the last time MACD crossed down, in the beginning of August, Shorts had a very big marge to go up, they started a push around 17500.
now it's not the same. MACD Crossing but they start from 32500. it give a small marge to go 40000.
what it means is when Shorts will hit 40k again (if they can), they will down and we will get an hard BTC push up (MACD in the dip).
Happy Tr4Ding !
Bitcoin Facing Biggest Test All Year... (Mind blowing analysis)This is a deep analysis on Fibonacci retracements, Korea Volume, Futures closings, Tether, CNBC and why I believe that $7500 is the most critical point for Bitcoin all year and if we break it, we are moving into a strong bull market and if we fail to break it, we will head back down towards the $5800 levels and possibly lower.
There is a significant fractal appearing that I have found that shows Bitcoin either being rejected soon, or moving into a strong bullish market.
Let's dig into the Fibonacci fractal evidence first.
KEY:
RED = Swing Low
ORANGE = .618 From Previous Fib
GREEN = Current .618
FRACTAL 1:
Let's start with the all time high to the swing low:
Top: $19908
Bottom: $10711
.618 = $16395
The pullback retest hit the .618 Fib at $16,395 twice before falling further.
Fractal 2:
Top: $15664
Bottom: $6044
.618 = $11989.4
Going off of the .618 line and the swing low at $6044, we can see that the price pulled back to within the 1-2% of the .618 level.
FRACTAL 3:
Top: $11989
Bottom: $6439
.618 = $9869
Fractal 3, using the same level from the prevoius .618 to the swing low, we can see that price pulled back to exactly the .618 level at $9869
FRACTAL 4:
Top: $9869
Bottom: $5766
.618 = $8300
Fractal 3, using the same level from the prevoius .618 to the swing low, we can see that price pulled back to exactly the .618 level at $8300
NOTE: You can also use $10,000 for an exact .618 pull back.
FRACTAL 5:
Top: $8504
Bottom: $5857
.618 = $7493
If we then apply the same fractal we've been using and draw it from the top to the bottom ($8504 - $5857), then we can see a pull back to the .618 level at $7496 is highly likely.
This also coincides with a rising wedge and a rising bull channel.
This is also a confluence of the downtrend that has rejected Bitcoin all year at the .618 levels that I have just previously demonstrated.
(Pardon all the lines.)
So the real question is....
Did Bitcoin Bottom at $5778?
If you draw an impulse from where the bull market started back in July '17, we can see that Bitcoin has perfeclty hit the .786 pull back from the top.
This was also the EXACT point of the Bitcoin bull run that took us from $6,000 to $20,000.
Another factor to think about when considering whether bitcoin bottomed and we are moving into a new bullmarket is...
The Importance of Korea
South Korea is the home of the FOMO retail trader. They were buying Bitcoin at a premium in all of 2017.
They were hacked for $30 million and deposits/withdrawals were suspended until earlier in August.
A big deal that not many people are talking about is Korea's Bitthumb and the volume we are seeing since August 24th, 2018.
It is up over 30% and we are seeing Bitcoin sustain rallies when pull backs are often seen.
Drawing a fib retracement from the swing high to the swing low from Feb to the July bottom, we can see that the .618 and the .382 have both rejected BTCKRW along with a strong down trend.
This upcoming .236 retest at 8.2 million KRW is going to be very telling for Bitcoin and Korea's bullish sentiment for the rest of 2018.
What about the FUTURES CLOSINGS?
Another thing to watch for is the Futures Market Closings. I have graphed out the CME and the CBOE closing dates.
I am seeing a correlation of money flow.
CBOE closing usually correlates to a rise in the price of Bitcoin UNTIL a CME closing.
CME closings usually correlates to a fall in the price of Bitcoin.
You can see all of my correlations drawn out here.
UPCOMING EVENTS:
So, in 3 days on September 6th, 2018 we have the CME settlement date and on September 7th, 2018 we have the Bitwise ETF approval/denial date.
What about Longs Vs Shorts?
We've seen a strong correlation with short and long squeezes in 2017 and 2018 and we may be seeing the same thing happen again.
Longs were at an all time high for 2017 when we saw the price get crushed from $20,00. The same thing happened in February and March as well as in July.
We saw the inverse happen when shorts went to an all time high in April and they got squeezed out and Bitcoin printed a $1,000 price candle and went to $10,000.
Shorts are again stacked up to near April highs with longs continuing to decrease.
BIG BULLISH CROSSOVER FOR MACD
We are also seeing a bullish cross over on the MacD weekly for the first time in 2018.
TETHER AND MORE PRINTING:
We also can't forget about Tether.
Last, but not least... we can't forget about the CNBC Bitcoin indicator.
I posted a chart that has over 1,100 likes on trading view that predicted the start of the bull run and a rise to $8500.
They posted a high number of bearish tweets that coincided with the perfect swing low and we are seeing that play out right now.
CONCLUSION:
In my opinion, we are at the most critical juncture for Bitcoin all year.
With Korean volume coming back, the cross over on the MACD weekly and a possible short squeeze, I think we may finally see an end to the .618 pull back and it will break the down trend and print the first higher low all season.
We are also seeing a significant amount of Tether being sent to Bitfinex.
With the bullish move, we may see Bitcoin print one of the largest candles for 2018 and move to the $9000-$10000 levels.
I will be hedging both ways as we will be seeing a massive candle either way in my opinion.
Thanks for reading my analysis and may Satoshi bless all of your bags.
BTC SHORTS - this will be interestingHi everyone,
I just wanted to do one more post before bed. It was interesting to see this chart for BTC shorts and it will be even more interesting to see it over the next little while. This chart tells a tail of lost opportunities and lost funds.
If you look back at the recent past, the amount of money in a short position is not very closely correlated with the price. It seems most people have a very difficult time of picking tops and bottoms, are slow to pick the change of direction, and tend to accumulate at the points when BTC finds support. BTC dropped nearly $1000 from $8500 to $7600 before shorts started to pick up.
My prediction: There will be a LOT of money lost as short isn't where you want to be right now. Watch for the Bitmex bot calling short liquidations on twitter starting in a few hours. This will add a lot of strength into the next bull-run up to $10k+. Yeah, I know that's a big call. See my other posts that show how if BTC stays above $5755 (I would be surprised if it goes below $6000) that the next run will be significant and strong. If you are interested in seeing why I think that, please check out my other posts on BTC.
Thanks for viewing. Please note that I am relatively new to TA, am not a professional, or your Mum, so please do your own research. Preserve those funds people.
BTC Realtime Analyse #9Hello my friends,
I'm here with BTC Realtime #9.We finished second month of BTC Realtime weakly last day and let's start third month with energy and fresh.Again i want to thanks all of you that helped me to made this idea and this page great,thanks you that trust me and walk on this path with me and thanks about all your kind comments and messages.So let's start this.
As you now we had a 1 profitable month together and now BTC stuck in a determinative situation,so i just tell you what we have in chart,instead what we have to do,in this period of time.
As you see in my main chart(what a messy chart) ,3 BTC's chart with different patterns but almost similar outlook.All these patterns are bullish patterns but this isn mean that we have not any bearish signal in chart,yeah we have and i tell you here later.
In my first chart from left you see a BTC Daily chart that contains a big inverted head and shoulder in middle of right shoulder formation,i started an idea last week that i explained there we didn't form our iH&S #2(from BTC Realtime #6),yet and we are in right shoulder forming phase of it.As you saw many thing walked on plan and my scenario till now and they made me more certain about it.I add that idea here if you want to see it.
After that we talked from 2days ago in BTC Realtime #8 about BTC triangle situation.As you see in second chart or chart bellow in triangle we have impact with price and ichumoku in 4h time frame after almost 15 days.Ichimoku cloud plays support role for BTC,still and BTC couldn't enter it yet.
But in lower time frames like 1H we entered it again but not reach below it hopefuly.In 4H we have price above all important EMAs like 50 200 1200 and 20 till now.EMA 20 plays support role till now that BTC reached below it and gonna test it as a resistance.
In 3 chart we can see a little inverted head and shoulder in that triangles that have little complex situation now.It had a chance to break neckline and confirm but failed in that attempt,now i have another hope for this little ih&s to play with two right shoulder,kind a odd head and shoulders but if you check books you can see kind of iH&S named Complex iH&S.They are very rare but exist.Or maybe we are just started right shoulder.
My scenario will play hopefully by mixing triangles with little iH&S and after that with a rally to 8600 they will complete right shoulder of bigger IH&S and BOOM,9500.But...
We have a BUT,like always.As we see in indicators like RSI and MACD we can see signs of reversal and div in them.
It's been one week that i started to talk about bearish div in RSI 4H.See chart bellow.
After that we have a reversal in RSI and MACD ,Daily time frame too.This isn't a signal that can walk away from it,easily.Need a strong support with Strength to can stay safe till indicators recover.
I don't want to be negative but it's situation that we must use a smart tight stop loss,stay tune and continue monitoring Chart.In this situation i do not advise anyone to enter or exit market,just saying to peoples that entered trade in lower steps,BE CAREFUL,we had this kind of situations in BTC before that after a break out of downward channel everyone turn happy and excited and suddenly market back in a sec.
If you want too see what will be our path after market drop,you can see chart bellow.
It will be it,without doubt,next stop will be 5100.But let's see what will happen in future and don not judge it right now,Mixed Signals means more Cautious.I believe in this sentence " Trader is not Cautious,is not Trader.He is just a bad Gambler."
So Good Luck
Like always please like this idea if you like my work and BTC Realtime weakly idea and leave me a comment to know what you think about next days.
I will update this idea like always with any sign.