Bitcoin has made a U-Turn for this cycle: Bear PowerBitcoin is making lower low and lower high giving bearish signal for long but today Bitcoin has broken its major trend line support started early this year formed from 3K to 13K..
From my previous analysis, we can see Bitcoin is giving signal only for sell. Recently we had seen few pullback to $10,300 but price has been rejected and its acting as strong ‘Resistance’.
Now in downtrend It will find next support at $8900, 7800, 7100. We will analyze again,when it reaches near next support based on how it reacts with it.
Until than create short position make profit at each drop .. Please like my idea and follow my idea for live alerts.
Target: $8900, 7800 and 7100
SL: $10,300 or 9,800 (depend on loss you can bear)
Now god save cryto coins.. It will sky rocket to bottom... Bear are in Control..
Btcshortsetup
BTC Major support levels [1D, 3D, 1W, 1M] + VolProfThis one is less abstract and more self explanatory. Things get a little crazy when you involve Fib Circles and try to chart time and price
The Color of the Text goes with the Color of the Support lines drawn. The lines are the "High/Low" of the range. The 9.4K bounce already happened, and we rejected from 11k.
I'm about 75% sure we'll hit below 10k this week
65% sure we're below 9k in 2 weeks at most
Not sure if we'll get down to the 7.5k range, I'd lean towards yes, 55% chance. But that's going to be the buy of the year.
For those unfamiliar Tenkan/Kijun are support lines of the Ichimoku cloud.
I'll consider myself wrong if we're at 11.3k before 9k
If you're a fan of this kind of charting check out my other work/setups and follow/like/leave a comment
Shorts in corelation with BTC Price - Bearish signs.
What I've tried is to correlate SHORTS with the price of Bitcoin. This is what I got at Key Points. This last weeks points out more as a bearish situation.
How many times a pattern can repeat itself?
Is this one will repeat again? Leave a comment with your opinion.
Short the rallyHeres to all the moon boys calling for a rally on bitcoin....
If price taps the resistance block marked in red and makes an SFP on the daily, ill be shorting it.
Look at how there is a swing high "crouched" just below the resistance zone, its a clear setup of making breakout traders go long as price runs into resistance before it gets dumped again.
Target- 3000$
Cheers!
REAL TEST FOR BITCOIN IS COMINGPrices action was confined within the triangle since last month, but now bears have decided to step up the game, i am looking for double bottom to form here procedded by a hard bounce, if that doesnt happen, most likely we are gonna losse the 3k support and dump to $2400 ranges which is currently the next support.
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Read other analysis below.
Head & Shoulders 1D / 12H We had this before on lower time frames with amazing success. It looks like this Head & Shoulders Pattern is ready to unfold.
Now usually the volume on bearish H&S is very low and that seems to be confirmed. But also the probability of H&S patterns to unfold have an 60-70% success rate.
BTC shorts vs price. Another drop coming! or new bottom?
Hi all I am looking to history BTCUSD shorts. In history there is some similarities, look at 2.Aug, 1.Sep, 12.Nov. This dates is very important, in this days a lot of people start shorts BTC, and price in usd go down rapidly, 23%, 16% and 50%.
Now is situation similar, If we bounce from line on shorts, can be drop like in history, a lot of shorters are waiting if price above 4000usd hold and Head and shoulders will be confirmed. If BTC dont break 4250usd soon, drop here will be resolution I think.
If we fall around 20% 800usd from 4000usd, we can created double bottom on 3200usd, if drop will be more than 20% we can get new bottom.
Important resistance which we need break soon
My bottomed Idea is 2688usd
This is my own idea, if you have some another ,please leave in comments.
Dont forgot for some action here :) like, comment, follow.
I will be update it. Thank you
Thank you
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.
BTC Next move - Maximizing profits and limiting lossesIn trading, we don't talk about certainties, because they simply don't exist. If anyone claims otherwise, then it's better to ignore their advice and move on.
Is this the bottom? Probably not. Should we, as traders wanting to make money on Bitcoin's moves short right away without understanding the underlying market conditions first? No! We are not gambling, we are making strategic decisions to make money!
Recently we have seen a big downwards move from #Bitcoin, breaking the important $6000 and $5800 support lines and falling to $5400 area. This means that these support lines become strong resistance levels and try to stop any upwards movements.
Let's look at the longer-term, weekly graph and indicators first. Before the drop, the MACD histogram was showing the potential movement to the upside, but after this week's drop, it took a sharp bearish stance, plummeting under the 0 line. The downwards trend, which has been bearish, broke the support lines. Elder's force index, which showed that the bears were slowing down before, showed that bears understandably gained a lot of strength and they are increasing the momentum.
The daily graph has similar data - sharp ADX and DI downwards movement, the drops in RSI and Force index. However, since the drop, RSI reached oversold levels and Force index shows that bears are temporarily losing momentum, thus giving us a chance to use that upwards movement to short #Bitcoin before it drops again.
For simplicity sake, here is a trading setup with low risk and high reward. However, trading in longer timeframe I note that you should not exceed the 5-10x leverage because of the market volatility.
Conservative trader:
Sell order at $5720
Stop-loss (depending on your risk tolerance and leverage) at either
The difference of the stop-loss order comes from market volatility, so the orders wont be stopped out due to background noise.
Take profit
$4500 - $5100 (update will be necessary in future Bitcoin movements)
Depending on the entry levels and profit taking, the risk-reward ratio can potentially be from 1:3 to 1:6, giving us a nice high probability setup with limited risk of equity loss.
Safe trading!
BTCUSD: Prepare for retracement Hi All,
Hope you all are making good gains, but be cautious.
It's all in the chart
BTC may have another leg up before the dump continues.
Allow the market to come to you, don't go chasing the rabbit.
Prepare a checklist, stick to your analysis, forget the noise.
Successful people in General, always have a plan and stick to them with conviction.
There's a high probability that this was just a short squeeze in order to liquidate the shorts.
Volume Weighted Moving Average (20) Target: 7450 - 7600: Sell
I must be crazy not to be buying the narrative that we are in the bull market,
Or maybe it's just the contrarian in me, since BTC has yet to test 5000 level.
Be sure to follow me and like this post if it was helpful, and thank you all.
Like the Phoenix we will rise from the ashes
Happy trading People...
BTC retracement in playBTC looking for a very short term retracement
I will enter the short on violation of previous low and retest.
Targets are 6535.6 and 6451.6
Both targets are previous trends and fibonnaci levels. R/R is 4.06
Leverage 5-10x
Chance of -7% for 30%
Trade only initiates after retest of 6660 as resistance otherwise invalid