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Btctrading

BTC - Busting down the doorHello cryptoheads, whats up? I told you I would call back when the correction is near complete so here we are. The wave count has come in text book style with nice symmetry and evenly spaced pivots. As expected the correction will not be deep and is hovering the .382 Fib line. We are still waiting for a fifth and final subwave down to complete the wave series and the descending triangle. Once complete we should see a breakout on the upside and on the path to $10000. There is no mistake there will be a fifth wave up. On the whole being conservative I would say BTC will be testing 75% of the ATH price by end of june. There are many bullish aspects to the market and it will continue to recover.
BITFINEX:BTCUSDLong
by UnknownUnicorn2742699
5
BTC it not as bad as it looks.....the only way is upBTC First let me start by saying that some dire warnings made by so called experts are just nonsense and there is nothing technically that should warrant doomsday predictions. Yes the market is downtrending and coming up to some critical levels but they are normal cycles. BTC is a pure fintech product dynamically existing in the market. The 5 wave count up to $10000 is actuallystill in play. We are still in wave C and correction of wave 1 and its looking like there is some support at $7800 and a C wave will normally will hit the 1.618 fib level sitting at $7600. The problem here is while it should support if it shatters through then there is little support until we get to $6000. I think it is not probable as BTC does not let you buy at the very low twice in a matter of 2 months. There are 2 possibilities from and here they are. Firstly the bullish scenario....Wave C will not extend and be exhausted at the $7600-$7800 zone. The more it acts as a support and keeps touching as time goes the more likely it will bounce as the bears will have tested it and run out of steam. We are sitting on the golden pocket zone of (.65) of wave 1 and usually acts as a support for the Wave 2 retracement. A move up to $8500 (61.8 fib) will confirm Wave 3 of the primary wave count is forming. If there is a doji on the current 4hr a possible reversal can occur. Also a break above the channel is a positive move upwards. Secondly the bearish scenario, the levels hit the purple line and Wave C extends shattering through to the yellow long established support line which we have to respect. However, it gets to the yellow support line watch for a bounce or further drops to the next support at $6000 are possible. This can move quickly and if it hits the bearish zones and drops the bounce will also be quick so I suggest you make your mind up if you want to buy the dip and set some auto buys. Chins up and happy trading.
BITFINEX:BTCUSD
by premiergeorge
BTCUSD - Bitcoin Forecast - Bitcoin Boy Bull Wonder!?Looking towards the indicators there is a change in the momentum, in favour of the bulls, lets take a look at the 1hr chart. The 1hr chart is speaking of bullish wonders, we can see a nice little bull flag formed, momentum show us that the bulls are regaining control and we have just ticked into the positive zone. It is however IMPORTANT to remember that we are still in a bearish market, any buys at these prices will be attempting to call a bottom, and should be considered HIGH RISK. The safer buy will always be once the market has confirmed that the bear trend has ended, however lower risk, lower reward. With all that said the market is looking healthy and unless we are faced with some FUD or a Tether collapse, we should keep ticking higher until we test the top of the trend channel again. Feel free to discuss my trade ideas with me on Discord . Safe trades.
BITFINEX:BTCUSD
by saintbitcoin
Bitcoin BEARS still in control - How low will she go?Hello friends, Bitcoin didn’t waste any time confirming my previous analysis. Prices pushed pass $8400 and quickly rose, however the price action was no good and we quickly retested $8400. This does not come as a big surprise as we know the 1week candles still show massive bearish pressure on the market, as well as the confirmation of the longer term down trend line. The bulls did a good job, but as we can clearly see there is more work to be done. The support at $8000 is failing now and at $7800 we will see the newb traders selling their $8400+ bags at a loss on the way down. Remember that the trend is our friend and we will trade accordingly. I thought we had a nice diamond bottom forming and a good chance of a reversal. However my support zones didn’t hold and it shows that the bulls are in for another beating. Support is around $6000 for me on this drop, but I will keep some dry powder for the $4000 – $5000 zones, longer term speaking. Lets be patient and see what the market does. We have a massive bullish divergence on the longer term chart, which will cause a massive price surge to the moon side. This could be anytime from now till April by my best guess. Feel free to come and ask our advice on Discord . Safe trades.
BITFINEX:BTCUSDShort
by saintbitcoin