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BTC- What's happening?!With the recent plummet that not many people on tradingviewers expected, I felt like giving a perspective. When the market plunged to $3200 and found support, many people believed that the final capitulation took place and that we'd see a steady rise back to the previous strong support of $6000. Many traders, myself included, were waiting for a completion of an Inverse Head & Shoulders pattern and a possible subsequent bull rally. (Drawn on the chart) However, as the formation of a right shoulder dragged on, the chances of an imminent complete IH&S became less likely. I've warned traders and investors that we were still in a strong bear market and that trends are dominant over short-term patterns. That's why trend analysis should come before any short-term analysis like Head & Shoulders, Bear Flag, Ascending Triangle etc. I've noted that we've been consistently creating lower highs and and lower lows. I also gave warning regarding the lacking volume- stagnant or decreasing volume pushes price downwards. (Moving average drawn on the volume chart) Unless you're strategically dollar-cost-averaging your capital and entering the market with calculated risks, it's dumb money. We've been in a bear market for a year now and the trend shows that we're still in a bear market. I've loaded up the 100-MA (blue line) to make this point clear. Many bullish investors believed that the $6000 support level wouldn't break. I myself thought that the horizontal movement we saw from September till November was a great accumulation zone. Many thought that it would be the start of an exponential rise. We soon plummeted down -50% and found our next support level at $3200. My point is, we don't know what's going to happen to the market. You have to understand that short-term price increase could be a fake out, that it could just lead to the market tanking further. This $3000 support level is a key psychological level just like the $6000 support level and once it breaks, we could go down to $2000, $1000 or even three digits. If you believe that BTC will one day surpass the high we created at the end of 2017, I suggest you take a deep breath, collect your thoughts, consider all scenarios.
BITFINEX:BTCUSD
by SirBulltard
3
Ripple Long !Ripple is a real-time gross settlement system, currency exchange and remittance network created by Ripple Labs Inc., a US-based technology company. Ripple is built upon a distributed open source internet protocol, and supports tokens representing fiat currency, cryptocurrency, commodities, or other units of value such as frequent flier miles or mobile minutes. Released in 2012, Ripple purports to enable "secure, instantly and nearly free global financial transactions of any size with no charge backs."
BITFINEX:XRPUSDLong
by khotso.mokhele70
1
7 Reasons Bitcoin Is Bullish in Less Than 1 Minute. Hi Guys! So lets take a look at the Daily chart here. Looks like Shit, I know - BUT There is a positive takeaway. If we look back at the charts over the course of the past 365 days we see a trend that has repeated itself , quite expectedly on 4 other occasions. So the question is: DOES HISTORY REPEAT ITSELF? The LOWER Yellow line is a support line from which BTC has bounced. So how do we know the bottom is in? 1. Bitcoin has defended VERY well at 5900+ 2. Each time BTC has touched the BOTTOM of the BOLLINGER BAND (yellow arrow) AND that touch has correlated with an OVERSOLD STOCH (yellow circle) we have bounced back to an uptrend. This FACT has held true since Jan and I see no reason for it to NOT continue. WHERE DO I SEE THE BOTTOM? $6080-$6120 WHAT HAPPENS NEXT? Well I fell 90% confident we will bounce off this bottom in the next 48 hours and head back to $7k. BUT we need volume!!!! Now comes the interesting part. IF we break $5900, we will go to $5K and the likelihood of a further retract picks up exponentially. However I do not see that happening... WHY? Lots of reasons. 1. I see Bitcoin as being in a downward Elliot Wave and this squeeze should pop to the upside. Why????.... 2. Bitcoin has almost ALWSY supported its price at or above the price to mine 1 BTC (Currently $5800-ish) 3. BAAKT is kicking off on Oct/Nov and they will have a daily settled ETF. This may not have an immediate impact ton the price but it will open the floodgates of trust for institution investors and the SEC should be able to use the BAKKT ETF as a beta-test that they do not have to be accountable (directly) for. 4. Did we see the NEW SEC Commissioner? Hes bullish on Crpyto. That makes 2 of 5 and likely the extra push we need to get ETFS approved. 5. Unplug from the Matrix and look around. Bitcoin is becoming MUCH more widely known and accepted as a part of life (Hell Walmart is selling BTC Coin candy) and while I am under no illusion that that will change the price of the asset, it does speak to the fact that more exposure, means more adoption and more (slow to enter) money. 6. There is a tremendous amount of Financial institutions that are exploring,. launching or working on a blockchain enterprise solution. This will further spread the value behind blockchain and , thereby the Godfather of them all Bitcoin. 7. We are seeing a massive exit of get rich quick money and now slow-n-stead accumulation is happening. 8. Ok, this was longer than 1 minute. and YES I am bullish on BTC so my charting may be biased. This is not financial advice, just sharing my thoughts. If you like it, please give a thumbs up and leave a comment! Love to hear what my fellow Cryptowarriors have to say!
BITFINEX:BTCUSDLong
by Bruce_Wayne
11
Potential Downside ETH targets, $150-180Areas of interest are the Pink Rectangles, I'm notoriously told my charts give people seizures with all the lines/colors so tried to clean this one up. 1. Blue Fib is drawn from the bottom ($6) to the high ($1424). I repeatedly see Cryptos respecting Fibs that are drawn from the bottom to "Notable Highs". 2. Yellow Fib is drawn from $6 to $805 (The 2nd High) which interestingly enough is an area where price has hit 4 times. This makes the Fib much more predictive due to the amount of time spent there. notice how the .618 from Yellow Fib and .786 from Blue Fib line up. 3. We bounced at $215 because of the previous time we bounced there on sept 14 2017. 4. Because of how strong resistance the $312 price line is, it would be a miracle (TA changing move) if we shot passed that price. So I see it as unlikely anytime soon. 4. The .786 level (which crypto loves to hit) on the Yellow Fib is a place to pause a dump at $180. But $150 could potentially be another place we drop to (LOW target), It's the next place we had a dip where we V-bottomed and continued up on July 14th 2017. TLDR. ETH is wrecked, Cryptos are wrecked. $300 ETH is highly unlikely. I would short $225-250 area, with a target of $180 (yellow fib .718) or $150 (place we bounced before), depends on the price action. Good luck, start shorting or start looking at other markets.
BITFINEX:ETHUSDShort
by teckno05
BTCUSD 4H Head and ShoulersSeems to all I've been calling recently (particularly for BTC), but it seems to be the gift that keeps on giving. BTCUSD 4 hour is showing a head and shoulders which would imply a proceeding bearish reversal. To compliment this we can also see our 9 MA is about to fall past the 26 MA which means current price is breaking down. I would expect BTC to hit the pink line on the 1.618 fib to complete the final shoulder before we see any strong bearish movement. To trade a head and shoulders correctly, you should ideally set your entry at the neckline to be safe and assure that this analysis is correct. Like wise take profit should be roughly the distance between the neckline and the head to complete the head and shoulders pattern (Although I would look at historical support for a more exact number).
BITFINEX:BTCUSDShort
by bobbysto18
BTC Times. Looks Like It's a Good Time for a Rebound.I will be brief. Less words - more deals) In a nutshell, after 5 days of Bitcoin rally from about 6200 up to nearly 7600 price reached a zone with several resistance levels. So there is a good chance for a rebound. I'll look forward to take opportunity to buy at lower prices - 6650, 6850 7050 . First preliminary target will be around 8500-8650 and 10k next. All this levels marked on chart so you can see ties with key points. Last days several positive news for cryptocurrencies went out, so mood is bullish. But still look for bearish patterns as it is always anything is possible. Stay tuned for updates and good luck!
BITFINEX:BTCUSD
by Radix0
BTCUSD - Bottom in sight? Keep an eye on the 5k levelHey guys, in my previous BTC post I've pointed out the strong similarities between this years market drop and the one of 2014. Assuming that structure will behave almost the same as in 2014, $3000 is the level to keep an eye out for a major reversal. It is still possible that price will reach this level, however I like to prepare myself for different scenarios, as things can turn out similar, but not necessarily hundred percent the same. As you can see on the chart, there is a strong confluence lining up around the 5k area, namely a significant major trendline, the -27.20% retracement of wave (2) to (3), a fresh demand zone as well as a major support. For the current bearish momentum to stop at the $5100-4700 area we do need to see volume and an indicative daily candle formation, to confirm a potential sell-off. A reactive approach is recommended. Safe trades! Bud
BITFINEX:BTCUSDLong
by BudBronson
1