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Btcusd1d

BTC:USD 4 hour chart DAILY UPDATE (day 133)Yesterday we looked at the reasons why I am expecting a $750 - $1,000 pump from the current price level. Today we will look at the mounting bullish indicators and ask ourselves if they are enough to bet against the bear trend. Today is Sunday and we only have a few hours left before the weekly candle closes. We are on a red 8 out of 9 on the TD Sequential and I would really like to see the the countdown complete before this pump continues. If we rally through $6,886 in the next couple hours then we will get a price flip before the red 9. If the countdown doesn't complete this time then it is very likely to complete in the future before this bear markets comes to an end. We are bouncing strong off the Stochastic buy signal and the Tweezer bottom . I do think there is plenty of room for this dead cat to bounce, however I am hoping that it doesn’t happen too fast such that it ruins the countdown to a 9. The RSI is back above 50 on the daily chart for the first time in two months. I view this like the 50 yard line of a football field. The bulls are now on offense and getting close to scoring position. This is an important confirmation for me when considering a long. There are currently multiple divergences in the On Balance Volume . One in the daily chart and one in the weekly. This is indicative of bigger players building a long position. The price has stayed level and the buying volume has spiked. That tells me that the proverbial smart money is accumulating at these levels and that is a very good sign for the bulls. The 12 and 26 period EMA’s on the daily chart are posturing for a bullish crossover as well as the 50 and 200 period MA ’s on the 4 hour chart. Longing one or both of those buy signals is becoming more and more attractive. If you elect to do so then I would suggest using ½ of your normal position size due to betting against the trend. A profit target of $7,500 - $8,000 is reasonable and a 5% stop loss provides a favorable risk:reward. I am going to remain on the sidelines for the time being and will be strongly considering buying each of the moving average crossovers. The main reason I am being cautious is because of the visible range volume profile . It is showing resistance stacked up from here to $9,000 with a big gap at $5,000 that is begging to be filled. Shorting this bounce and longing $5,000 are my priorities and it will not be a cause for much concern if I miss a move in between. Thank you for reading! Have something to say? Leave a comment! Smash the follow so that you don’t miss out on future updates and remember that clicking the like is good karma!
BITSTAMP:BTCUSD
by Sawcruhteez
BTCUSD is consolidation over?From our previous analysis and its updates it was clearly seen that BTC went out of the triangle and now is preparing for the next wave of growth. After it was pumped above Fib 0.786 level the price started to consolidate and now it has bounced back from the mentioned Fibonacci level which is now strong support. Nevertheless, uncertainty about BTC price movement is going to end only in the beginning of April. Till this moment there are still 2 scenarios: 1. Price continues its bounce and moves higher to the next level around $10 800 2. Volume goes down and bounce stops, the price follows Stoch RSI forecast and moves back to the triangle and decreases till its lower edge around $6 400 Conclusion: BTC will obviously grow up and reach new ATH in the long term, however in the short term the price may retest 6k level before it starts a new wave of growth
BITFINEX:BTCUSD
by Skyrexio
BTCUSD Daily analysis - Short bear. Long bull.A daily and 4hr chart analysis. Daily - Bearish day after a bullish rally. Huge historical resistance hit. Possible retrace to 9-10k. Major support at 10k but a retest of 150 EMA, 9500-9700, likely. 4hr - If the Moving averages cross (Red and Green) expect trend reversal confirmation from 90% of analysts, including myself. My only concern at this point is the upper trendline. - The last time the moving averages crossed (Golden Cross) was October 2017 and a 400% price rise. Opening short to 9700 If we see a 9500-9700 bounce, opening long.
BITFINEX:BTCUSDShort
by jackdavidpiney
BTCUSD look to buy on weaknessBuy above 11887. Stop loss at 10446. Take profit at 15221. Reason for the trading strategy (technically): Bitcoin’s price has continued to rise strongly and it also continues to obey strong technical as seen in our various Fibonacci retracements and projections. The recent swing low that occurred at 12720 was purely a 50% Fibonacci retracement and 100% + 161.8% Fibonacci extension. We are bullish on this and the key question is where to find a good entry level. We look to buy above 11887 support (61.8% Fibonacci retracement, horizontal pullback support) with first key level of support seen at 12116 (100% Fibonacci extension). Our profit target would be at 15221 (Fibonacci retracement, horizontal swing high resistance). Stochastic (34,5,3) main support is at 21% and we should expect it to drop towards that level which corresponds to our buy entry. Reason for the trading strategy (fundamentally): While it’s important to find out what is driving the mega climb on Bitcoin, it’s likely that this run is very much fuelled by speculation over value as one of the key points is the stark contrast we’re seeing versus the other major cryptocurrencies. While Bitcoin has been rallying, Ethereum, Ripples and Litecoin were all ranging and some even dropping despite being much better and suited for day-to-day transactions – which is what the whole concept of Bitcoin and Cryptocurrencies are meant to achieve. Hence this shows that the appetite we’re seeing right now is not so much for cryptocurrencies and how they would radically redefine the financial system. Based on this, we can expect further volatility and price to obey much more key technical levels as that is the main area the markets would be looking at especially with a lack of key fundamentals.
BITSTAMP:BTCUSDLong
by MEX_Exchange