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Btctechnicalanalysis

BTC Bullish Hidden Divergence Update! As talked about yesterday i have found a hidden bullish divergence on BTC 1D Timeframe, and this if all goes to plan is absolutely bullish for us, this divergence pattern signals a continuation of trend and we are in a clear uptrend. This pattern can be spotted by noticing higher lows in price action but then lower lows on an oscillator, the best ones i find is the Stoch RSI and the CMF. Even without this divergence i think we are definitely due for another leg up in PA, we have had a significant pullback which in times like this is needed and is 100% healthy for our overall structure and is necessary for us to keep heading upwards in a healthy way, if we didnt have pullbacks we would collapse ontop of ourselves. A good way to look at it is look at a skyscraper and the construction that is needed to build it, supports need to be built starting at the floor and more supports need to be made in order for the building or in our case market structure as we head higher and higher upwards, and if these rules aren't followed the skyscraper would collapse ontop of itself. Now i think if we start t shoot upwards i think a very conservative target for us shorter term is the 50K level or the 0.2 FIB, we will definitely need lots of momentum to breakthrough here and we could still have some trouble breaking through the first time, there are other levels in our way for sure but not as significant 47-48K i think will be our biggest challenge other than the 0.2 FIB. Very positive news coming from the MACD as you guys can see the histogram is shrinking and it may not be fast moving but we are decreasing in red bar size each day and thats exactly what we want as we come to a possible end for this bearish MACD cycle, we probably still have a few more days to go before we see a bullish cross but always keep an eye out. The blue MA is slowly but surely starting to make its way upwards and coming back towards the orange MA but we are still a bit away, and this is why i say for our bullish cycles we need to see big separation in the MA's because it lessens our chances of seeing a near term bear cross! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
BTC HIDDEN BULLISH DIVERGENCE!!!Bitcoin is starting to slow down on the dip and its pretty clear and i just found something great! A hidden bullish divergence, this signals a continuation in trend which in our case is still an uptrend! we have had a healthy correction for our structure and in order to keep going up, there is still a chance for us to see a little downside but it isn't super likely, the possible level i could see is 43K which we wicked at the beginning of the dip, what im thinking is possible is a retest of 43K and i would say a likely hold of that level. Looking at the MACD we are starting to look positive on the histogram with our daily bar starting to flatten out, this shows resistance on the bearish momentum and could more than likely lead to the start of a reversal and then ultimately a bullish cross! One thing we also have to watch is the bollinger bands this is where we can further tell where we are likely heading, if tomorrow or even tonight before close we start to press downwards we have to watch for our candle grabbing onto the bottom band as we would probably fall right down to that 43K level. On the other hand we are currently seeing 2 transition candles which could also be giving us a sign, what we want to see is some pushback from the bulls hopefully going to regain the 46 & 47k levels and then another test will be the midline coming from the BB, it is now clear resistance we are going to have to break above sooner than later. Besides the hidden bullish divergence on the stoch RSI we saw a nice bounce and we are now looking for that confirmed bullish cross and separation with the blue ontop of the orange! Not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905
BTC Fear On The RiseSince our recent flash crash we have seen a decent drop in bitcoin and we are holding up on this 46K support pretty well but there is definitely fear rising in the market. It is looking honestly looking pretty unclear right now, lets take a look at the bollinger bands on the initial crash we came back up super strong and managed to regain the midline but since have fell back down, we are seeing that price action is sitting right on that bottom band and majority of the time we see this we tend to go down a waterslide. Now we could actually see a fakeout or reversal but if we do indeed fall i think we will find some support directly below us and if we dont hold that level at 45K we could see a further drop to the 0.3 FIB, now if you remember in august i was talking about a pullback to the level and overtime started to think it wasn't going to happen but that option is definitely on the table again. the MACD is not looking too great we are seeing both the MA's spread way out and pointing down with no sign of pulling back upwards, the histogram aswell is increasing in bearish bars every day and if this goes on the bearish momentum will increase until this macd cycle reverses. The RSI is looking good actually we have found support coming from a bit ago and we had a good bounce and now are pointing slightly upwards, most important thing is that we need to see the rsi make its way back up past the midline to remain still in a confirmed uptrend and if we fail to do so we could be looking at a shorter term downtrend! Not financial advice just my opinion
COINBASE:BTCUSDShort
by JacobR905
BTC Flash Crash Update!As we talked about this morning i thought a cooldown or retest was bound to happen but instead we got a flash crash which we have since significantly recovered from, took off the bollinger bands but if you check out the last TA and load new bars you will see that we actually have recovered all the way back up above the midline which is acting as support. Now we talked about the RSI earlier and i said we could see either of these supports catch and we actually have held up on the lower slightly downtrend support as i was saying, now the test is definitely to hold this level and if we can't a crucial level will be holding the midline on the RSI, this does act as support but more importantly if we stay above this line we are in a confirmed uptrend! Now check out the parallel ascending channel i drew, we are currently sitting right on the bottom part of the channel which acts as support just like the mindline on the bollinger bands, the key here is to see a recovery and push back up into the middle part of the channel, if we breakdown we could expect a strong push down to the 47.4K support level. Now looking at the MACD like i said earlier on that fakeout bullish cross i said we need to see a confirmation with the MA's starting to spread out and we did not see that confirm and soon afterwards we saw that bearish cross and the flash crash. Same thing goes for this bearish cross we aren't seeing any separation in the MA's an the histogram is pretty flat, if this leads into another bearish MACD cycle we will have to see bigger spread in the MA's and bigger growth on the histogram! My thoughts are that billions of dollars we're liquidated today and lots of investors & traders got shaken out because they have weak hands, me on the other hand i bought the dip today and added to one of my bags! Not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905
BTC Retest/ Cooldown in play??!Bitcoins been pushing hot into the 50k+ range and we have taken out some key resistances, its looking like we are loosing a little bit of steam here and there is a chance we see a little retest or cooloff before we continue heading up! We currently are looking to test the 51.4K level and my thoughts are that we definitely need to see a retest on that 0.2 FIB level, if we can successfully pull this off and still remain above here for daily close tonight we are looking very healthy in my opinion! Looking at the bollinger bands we are looking very good we have been touching and slightly riding the top band upwards but have since let off a little bit, but even if we do see a downday today we can always push back up to that top band tomorrow or the following day! We also have the midline from the BB's acting as support and this level usually holds up a bit whether it be support or resistance! Looking at the MACD we indeed got a bullish cross but what im looking for is that confirmation, we want to start to see as much spread as possible in the MA's with the blue remaining on top, we want to see a big separation because it lessens the chance of a near term bearish cross, also the histogram is looking good we are already seeing an increase in our green bars, even though its not a big jump in bars its a start and we could be in for a nice little upcoming cycle! Now the RSI, as you notice we have 2 areas of support, one slightly trending upwards and the other slightly downwards, so we definitely have a chance of catching on of these supports which would be perfect for our cooloff or retest theory, it would be better in my opinion if we breakthrough the first support and catch the second one below, this would give our next run some room to move upwards without becoming overbought like we have recently been seeing, the most important thing for the RSI is that we stay above the 50. midline and iif we do so we will continue in a confirmed uptrend!! NFA just my opinion!
COINBASE:BTCUSDLong
by JacobR905
BTC Breakout This Weekend??!Taking a look at BTC before we head into the weekend and we are actually looking very good we have made our way back upto the 50K level, however we are seeing some expected resistance, first the 0.2 FIB level and then resistance coming from months ago at almost 51.3K. We are first of all looking for a close above the 0.2 FIB that would be huge for BTC and the market, it definitely is doable. We notice the bollinger bands are squeezing a bit and we are seeing wicks up to the top band, and as you guys know if we can grab onto this we are surely going to be breaking out to i'd say around 55K, we do have another resistance level at 53.5K aprx but i doubt it is any match for a bollinger band pump if we do see one. Now also looking a good indicator the FIB bands, we see the last fib band we have is approaching that 53.5K level, if we do see a vertical like pump that top FIB band will likely start pushing up into that 55K area. Always remember we need to see a healthy retest of claimed resistance levels, this builds healthy and strong structure rather than going straight up and completely collapsing on itself. Now check out the MACD we are getting somewhat close to a bullish cross! We want to make sure we see good separation in the MA's with the Blue on top. Now we are seeing a nice decline in the histogram with our bearish bars decreasing everyday, we want to see this continue and push into green bullish bars and same goes with this, we wanna see healthy growth in each green bar, not flat or barely increasing this would be a weak bull cross, i personally don't think that we will see that, there is lots of momentum and we will likely have an explosive run soon! Not financial advice just my opinion!
COINBASE:BTCUSDLong
by JacobR905
BTC Dominance About To Fall!!?Bitcoins dominance level has fallen below key support at 43.32% and we are now looking for a drop to the 41% level! This would be very positive for the whole market especially the altcoins, there could be a initial drop from dominance crashing but afterwards we will see the market start to breakout! First off on the MACD we are seeing a bearish cross with the start of a little separation, whats key here is that we see the MA's start to take off from one another and spread out lessening the chance of a near bullish cross. Like we are seeing currently we want to keep seeing rising red bars on the histogram with each one getting bigger and bigger, this shows bearish momentum and in this case its very positive for the altcoins! Now the Bollinger bands, even though we have been on a bit of a fall already we are just now starting to touch the bottom band, and usually the case if this continues is a waterslide affect bringing price action down on a slope, if this occurs this is where i think actual BTC price action will react, if theres a big drop rapidly we can likely expect BTC's price to initially fall with it. Now the EMA ribbons, which is a great longer term indicator, we notice lots of downwards pressure on BTC's dominance, we we're starting to squeeze a little bit recently but now we are beginning to see the ribbons spread out bearishly, the more the ribbons spread out and push down the further we are from an overall trend reversal, we will likely see these ribbons fully spread out in the coming weeks/month and that is when altseason will be in full effect! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC Hidden Bearish DivergenceFound a hidden bearish divergence on the BTC 4HR timeframe and if you aren't familiar with divergences, regular ones signal a reversal and hidden signal a continuation, so what i am thinking is that this could lead into the much talked about possible pullback i have been mentioning. As you can see coming from our recent high we have been in a little bit of a downtrend and this divergence could be signaling a continuation or lead into a pullback! Not financial advice just my opinion!
BINANCEUS:BTCUSD
by JacobR905
IMPORTANT DAILY CLOSE FOR BTCLooking at the 4HR BTC chart we took a look at yesterday like i have said this is a bearish pattern and we are starting to see that now, we are pushing down and now sitting directly on the bottom of the wedge looking like we are in for a slide downwards. We are also right on the pivot point and i think if we see a close here we might be seeing a short term trend reversal, or atleast a pullback, dont really know how far down we will go we do have lots of support, im thinking atleast to the 0.5 FIB level which is only a 4% drop or so, but if this plays out we will have to take a closer look at that time, as you guys know i have been predicting a pullback for some time now and over on my daily TF i have layed out 3 possible pullback scenarios ranging from -11% to -23%, both are valid as in 2018 we saw many pullbacks ranging from 15% to 40%. We definitely have to keep an eye on these bollinger bands, we are creeping down to the area of the bottom band which is always pretty dangerous, if we continue to see some drawdown we are looking at a chance of grabbing onto the bottom band and sort of watersliding downwards. Now checking out the MACD we are seeing a strong bearish cycle here with a recent bearish cross, we are seeing increasing red bars each one and i feel like we got a couple or a few more to go before getting that reversal, I think this due to the fact that the Blue MA's starting to separate pretty far away from the orange and the longer and further this goes on.. the longer we will have to wait for a bullish cross! Personally really hope we see a significant pullback soon i will definitely be going into the market loading up my bags getting ready for that next big push!
BINANCE:BTCUSDShort
by JacobR905
HNTUSDT Technical Analysis ⏳ Spot 💎 HNTUSDT after breaking above the significant resistance and the triangle, has done the retest. it already had a rejection from the Support. It is expected to go higher 🏁 Short & Medium Term 💵 Invest Only 5% of your Portfolio 🎳 Entry at market or 22.00 ☕️ TP1 24.90 🍺 TP2 26.30 🍻 TP3 28.00 🍾 TP4 29.00 🍷 TP5 32.00 🍸 TP6 34.00 🍹 TP7 36.00 🎁 TP8 42.00 🚫 SL 19.00 Good Luck 🎲 Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button. ❤️ Your Support is really appreciated! ❤️ Traders, if you have your own opinion about it, please write your own in the comment box. We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. We will have more FREE forecasts in TradingView soon Have a Profitable Day
HLong
by Fibonacci-Signals
BTC bearish ascending wedge 4HRBitcoins moving within this bearish ascending wedge pattern and is also getting held up by some resistance levels. We are seeing a struggle to get above this 49.2K resistance level, we also notice the ichimoku cloud is getting a flip into bearish territory, we could see a pullback coming up soon here, especially if we get rejected off this level for our daily close and due to the bearish ascending wedge. Also looking at the RSI we are getting held up at this resistance that is slightly above the midline, this could pose an issue for us to keep climbing up aswell. Like i have been saying in my recent BTC analysis's we could be in for atleast a 5% pullback which would land us around the 0.5 FIB, now if this happens there is a chance the pullback could go on longer and could see an upwards of 18-24% to the downside, but we will have to dive into that later on and even if that happens. Looking at the MACD we are actually looking pretty good, we have gotten a tiny bounce when it looked like we were going to see a bearish cross, keep in mind we still could for sure if we see a bearish daily close tonight or even some slight downside in PA, since the MA's are so close together it is pretty hard to determine where we are headed on the MACD, we gotta watch it closely, and if we continue bullish like we currently are or even if we see a bearish cross we have to watch for separation in the MA's if we are going to see a real bull/bear cross. Also the histogram shows you a lot especially the momentum the bulls or bears have in that specific MACD cycle! Not financial advice just my opinion!
BINANCE:BTCUSD
by JacobR905
WILL BTC HOLD THIS CRUCIAL LEVEL??!BTC has recently seen a lot of upswings with a couple little red days not really pulling back much, as you guys know i personally think we are due for a decent pullback before we really get going and im thinking we could possibly see this soon. We have lost bull momentum after failing to break above 50K we had multiple touches but couldn't seen to hold onto it and now we are seeing a little bit of downside, im currently looking at this 47.3K support level that we keep testing, if we see a close below here today or in the next couple days i think we could see a fall down to the 45K level. We got 3 pullback targets, the 45K level we just talked about is slightly more than -11% from the recent top at 50K, next we have a likely level due to a little momentum shift into the bears hands and thats the 0.3 FIB (i believe is the most likely target for a decent pullback) Next we have the 38K level which is a solid floor IMO, this also could be likely and i think so because, before we go on the next leg of this bull cycle the big players will be looking to liquidate long positions, shake out weak hands and overall put fear back into retail investors, remember they want you to miss out. Looking at the MACD, like i talked about before we wouldn't really know if this was a legit bearish cross until we saw the MA's starting to separate and the histogram producing bigger red bars each day, and what do you know! We are seeing that exactly starting right now, the MA's are starting to take off from eachother and the histogram is making a bigger red bar today! Checking out the RSI we are seeing some downslope here coming out of the overbought zone but we haven't really moved much in the past day and we haven't broken through this support level either, the most important thing is that the RSI stays above that midline so we can stay in a confirmed uptrend, this midline also acts as support. Now the Stoch RSI which goes hand and hand with the RSI, we are seeing a bearish crossover and we are heading almost straight down, so from the technical side of things it really appears we are going to have a pullback and im hoping its a significant one so i can load up some bags, keep in mind too if we do cross this first support level and close below here than these indicators will follow, like the RSI breaking through the support line and the MACD starting to fully separate and have a decent fall as the bears get a little momentum! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
How Much Will BTC Fall??!Looking at BTC again today after daily close and i was onto something when i mentioned earlier, about the bearish looking transition candle. Thought this sort of scenario was likely looking at how we couldn't break 50K and hardly the R2 resistance, Now we are seeing some support coming from February holding us up, it is really hard to say where i think BTC could land but i imagine it would be more than 5% from the recent top. We could see ourselves at the 45K level or even lower at the 0.3 FIB, im thinking due to the growing numbers of longs and being in extreme greed mode we are in for a decent sized pullback, to liquidate long positions, shake out weak hands, mess with emotions. Looking at the RSI we're seeing downward movement coming out of the overbought area and soon coming up on some support from the beginning of this month, we could see a hold up here for sure but keep in mind all that i just mentioned, also some support from the 50. point midline. Looking at the MACD we are seeing a bearish cross that recently printed and the overall structure of both of the MA's is falling slopping too the downside. keep an eye on this though, we have seen similar action like this like i talked about previously, we will know for sure when we start to see the histogram printing bars, if we see growing red bars we are likely in a pullback scenario especially if the orange MA is on top and we start to see big separation in them, the further they spread out the further away a bull cross is. Now the Wavetrend similar to the RSI we are starting to make a downwards move coming out of the sell zone, there's not much indication here on whether we are going to catch support or not, personally i hope we can see a dip i would love to scoop up some bags, Not financial advice just my opinion!
COINBASE:BTCUSD
by JacobR905
BTC Pullback in Sight!!?BTC bulls are clearly loosing some strength and momentum here after failing to breakthrough the 50k level at the 0.2 FIB, we poked a wick above here slightly but it was not enough! we had a nice close yesterday with us slightly above the R2 resistance but couldn't keep the momentum going, now we are seeing a darth maul candle as i like to call it and aswell known as a transition candle! I think at this point we are due for a little bit of downside like i have been talking about previously, i think likely we could see anywhere from -18% to -24% as shown on the rectangles, keep in mind these are drawn and measured from the top wick above 50K so the pullbacks could be slightly less if we look at it from today forward. The wave trend has been chilling up in the sell area (top zone) for quite some time now and we are just starting to see a curl slightly pointing to the downside! We could see a sort of reset for our indicators hopefully looking at a potential drop to the bottom of the wavetrend before we start heading back up! Also the MACD has been moving very very flat recently and we are not seeing nearly enough momentum, we notice the MA's are in and out of bull and bear crosses moving flat and unpredictable, this is where i think a bear cross and pullback are going to come into play. The histogram doesn't really look good at all we are seeing tiny flat green candles which followed by the same sort of red candles, we are seeing no growth in our bars this MACD cycle and is a clear sign of momentum slowing way down! Im personally really hoping we see this pullback/dip i think its going to provide a very nice buying opportunity and a possible great long entry, will be looking to add to my bags if we see something like this play out! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
1
Daily BTC Close Analysis!Bitcoins continuing to push up towards 50K with another touch of the level last night, however we seem to be really struggling to get up and above the R2 resistance from the pivot points, we are currently a hair above this level but we will definitely have to watch this going into our daily close! If we don't get a close above 50K tonight or even tomorrow my thoughts are that we are going to see a pullback, if we can't breakthrough the bulls will continue to loose momentum and in turn the bears will get a bit and most likely drive the price down, most likely too the 0.3 FIB level or around 42K. Checking out the RSI we are in the overbought area and sort of moving flat not really up or down. I think sooner than later we are going to have too see some drawdown, and this is where im looking at the Stoch RSI we notice we are starting to loose some momentum and our blue is starting to curl downwards towards the orange in what looks like a soon to be bearish cross and a drawdown, this could have the regular RSI come on down with it and most likely price action. I think we are due for a decent sized pullback or cooloff just based on how much we have recently ran up, aswell as major exchanges and whales are looking to liquidate long positions and shake weak hands out of the market. Just my opinion not financial advice!
COINBASE:BTCUSD
by JacobR905
Possible dip coming for BTC?Bitcoin has been pushing up very nice recently with us almost touching 50K, we didnt quite make it and we are getting held up by the R2 resistance level from the pivot points indicator. We are still looking very bullish especially on the upcoming weekly close same goes with our upcoming daily close. gonna be honest i would love to see a drop or pullback here to try and get in a nice couple buys for this next run. I think we could see a pullback but more a shakeout before we really start taking off, whales want to get as many weak hands out of the market, also liquidating buy stop losses. We do seem to be facing some troubles getting fully above the R2 resistance and this could pose an opportunity for some bear momentum. Looking at the MACD we are actually getting a bullish cross which of course play out but we can just as quickly see a fakeout to a bearish cross, if we see a run we focus on the direction of the MA's and the separation they have between each other, also the histogram we want to see greater green bars day after day not a flat looking histogram near the midline. We are starting to see an overall flip for the EMA ribbons which is very nice to see, we are definitely getting some bull momentum but once we start to see an actual full flip with all the ribbons separating is when we will be very very bullish (green ribbons on top) Now the RSI is actually overbought on the daily and we are starting to see a curl coming to the downside, this is another reason why i think its possible for a little pullback, we have been in and out of overbought since the end of july. The main thing here is the RSI staying above the midline, we need to keep hold of the confirmed uptrend! Not financial advice just my opinion!
BITFINEX:BTCUSDShort
by JacobR905
BTC Ramping Up For Weekly Close!Bitcoins looking very bullish coming to our weekly close tomorrow, we are seeing a month long of higher highs each weekly candle and a very close push to 50K. I previously said in a TA awhile ago i think we would see a 50K BTC before we really see a decent pullback and i honestly switched my view because i didn't think it was going to playout but now we could be back on track with that prediction, if we do see a pullback i don't think it will last long buyers will be looking to eat up the dip including me. Plus it would be a very healthy move for our overall structure. None the less though we are still looking insanely bullish on a lot of indicators, first of all the EMA ribbons haven't flipped bearish on the weekly at all, we had a slight pinch in the ribbons but now we are starting to open back up with bullish momentum, the more we see the ribbons push up and separate the more momentum the bulls have and the market has. The MACD looks very very good we are almost getting a bullish cross, i think we will see it in the next day or so, we ideally want to see a explosion like move from the blue MA, separating away from the orange. We will likely see a very nice run coming up soon due to the fact that we don't see bull or bear crosses often on the weekly MACD, last time we saw a bearish cross was around the end of april and last time we saw a bullish cross was in OCT 2020! Exciting times in crypto right now we are getting closer and closer to ATH's and could see a nice resume to our cycle soon enough, even if we do get a pullback i think it would be a healthy one that is needed. Not financial advice just my opinion!
BITFINEX:BTCUSD
by JacobR905
VERY IMPORTANT LEVEL FOR BTCBitcoins starting to curl to the downside as i predicted would happen at some point, we are coming up on a very key level which is support at 44.5k, we have already wicked below this level and since then have come back up but what i will definitely be looking for is whether we close our daily above or below this level. I feel like a pullback is due for btc and the market after running up hot, a pullback here would definitely be healthy. I think it is likely we see something like this play out, we have more support at the R1 which is now turned to support but i feel like a reasonable pullback target is the 0.3 FIB and would even be happy if we saw a drop all the way too the 38.6K support level, i think this would provide very good entry spots for longing the market. Looking at the WaveTrend oscillator we have topped out it looks like and we are just now starting to curl to the downside from the very top zone, this definitely plays into my pullback thesis as this also shows we are due for a pullback, and keep in mind it isn't uncommon. We could see some catches on supports on the wavetrend like the uptrend support ive drawn or even the midline of the wavetrend. Either way i think we are in for a pullback of some kind to cool off and build some structure and i view this as very positive because i will for sure be buying the dip at these potential great entries! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
BTC Pullback on the HorizonBitcoins been running up hot recently but it looks pretty clear we are running out of steam here which is nothing unusual, we are seeing a couple doji candles right now and they lean to the less bullish side of green candles, day isn't over yet though we could see a further decline in todays candle going into close. Remember though pullbacks are necessary and healthy for our overall structure, we have weak support at 44.5k which is pretty unlikely to hold so i figure the 0.3 FIB is a pretty likely target aswell as the next option that is, the 38k level which is longterm and strong, i doubt we would go any further than that. Looking at the MACD too we see that the blue MA is coming down on the orange and we are getting pretty close to a bearish cross, unless we get an unlikely bounce, the histogram aswell is coming down towards the midline and each bar has been getting less and less, looking like we could see a little bit of a red cycle here on the daily MACD. The RSI and Stoch RSI both are overbought and seem to be starting the return to the downside, what is key here for the regular RSI is that we don't drop below that midline and if we do we need to come back up shortly after, this is due to the fact that confirmed movement above this midline is considered in an uptrend and movement below is a considered downtrend, after the past couple months BTC and crypto don't need to go back into a downtrend lol. i personally think this pullback will be a last effort to shake out any weakhands before the return to the bull cycle! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905
BTC Dominance fall triggered!!Bitcoins dominance is coming down at pretty fast rate and we are passing multiple important supports that we needed to breakthrough, as you can see with my path drawing i hit it pretty accurate with the 1-2-3 move to the downside i just had the timing/timeframe a bit off. We have pushed through multiple supports and we are now passing a very important one which is longer ranging support and aswell as the S1, a breakdown and hold below this level for daily close is key, also as dominance falls we notice altcoins really starting to takeoff with multiple today already putting out %'s in the teens! The bollinger bands looks good in this situation and keep in mind i would like to see dominance fall because we tend to see explosive altseasons follow, our price action is riding the bottom band and if we keep this up we could really see a bigger further fall. We have a very light support at the 43.32% we could see a drop to here but my guess is that we are going to end up at the 41.57% level or the S2, these levels are much stronger and give us a good chance to catch a bounce, also keep in mind that in 2018 the altseason drove BTC's dominance just a bit lower than 35% and if thats the same case for this year we have a big drop still and even more explosions coming from the altcoins! Looking at the MACD we are seeing very bearish separation within the MA's, the blue MA is taking off from the orange pointing towards the ground, the more separation we see the more bearish momentum which in this case is positive for the altcoin market. The histogram is continuing to push out bigger red bars and the bear momentum is becoming greater! Not financial advice just my opinion!
CRYPTOCAP:BTC.DShort
by JacobR905
BTC Pullback Coming soon!??Bitcoins pullback may be coming sooner than we thought or atleast i thought, i've thought about it for a bit and came to a likely scenario, if we think about how the major crypto players and whales move markets we could likely assume that we have to be in for a pullback before we takeoff back into our ultra bullish cycle, now a move like this (which is very common) eliminates or shakes out a lot of weak hands and liquidates tons of trade positions, also it really messes with peoples overall emotions when it comes to crypto which is their hard earned money and that can tend to make people make irrational decisions. holding is key remember that. Now to the technical side of things, we are currently right above a weaker support line at almost 44500$ and we are seeing a bearish day and of course bear candle, if this continues and we close off the day with a red candle this gives the bears some momentum, which personally i think will shred right through this support level due to it being weaker. I have a likely path drawn out which might be a bit conservative but we would soon land on the 0.3 FIB level which is a pretty strong support and could definitely hold but again if we think about the bigger players they likely would want more fear for retail investors so we come down to potentially our next level at 38613$ which again is a very strong level that has been around for months now. With the bollinger bands i think if we start to see a pullback the midline of the bb's which act as support will most likely closely line up with the 0.3 FIB, could be wrong but either way i think pullbacks are a blessing especially in times like these, they can provide you with very good entry points. Both the RSI and Stoch RSI are dipping, we are starting to see the blue crossover the orange bearish on the stoch RSI and on both we are in the overbought zones, starting to curl downwards too, definitely think there is something coming and i hope i am right and able to catch it! Not financial advice just my opinion!
COINBASE:BTCUSDShort
by JacobR905