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Congrats BTC Bulls! BreakoutBTC dominance continues with pairings hitting lower lows while BTC confirms the double bottom at $9k is the low for now. Limited resistance until 2019 highs in the low $13,000s. Bulls continue to buy the 4 H higher lows and 4H EMA12 support is a great visual guide for us to determine if the bulls are keeping full control. Just a quiet 7 day bull move, shaping up the weekly chart as very strong. Remember after significant bull moves there are short term trades based on the first 5 min oversold RSI and the first hourly oversold RSI when we do see some more prolonged consolidation. There should be a good amount of bulls looking to buy the daily higher low when we do see a bit more prolonged consolidation. Personally not in a swing position after taking a couple days off from trading last week and not finding an entry point I like since then... but the long term anti-FOMO no touch position is doing its job making me perfectly fine with that! A goal of mine trading is to just have more money than yesterday, and that longer term position is ensuring that. I will be one of the bulls looking for entries on the daily higher low, and watching ETHBTC and LTCBTC pairings to see if there is an oversold bounce opportunity as well.
COINBASE:BTCUSD
by TheChartGuys
3
BTC 4 Hour Uptrend Comfortable Bulls holding on to their slow and steady momentum, with about 5% space above the last clear 4 hour higher low. This means even if we see a consolidation day today the uptrend can remain intact. This is the most important time frame for me into the weekend as it will give us information on the likelihood of the daily equilibrium forming or not. With the BTC pairings of ETH and LTC still potential bear flags on the weekly it will be up to the coins to break out of their daily ranges harder than BTC in order to gain ground on the dominance creeping back in. Bears are scouting a top fishing entry with $11,100. Bulls are either in positions or patiently waiting (and hoping) that the daily equilibrium does continue to tighten with a lower high.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Bulls Attempt 4 Hour Bull FlagHealthy consolidation overnight has the bulls looking for continuation this morning. If we fail to break resistance and instead break the low of consolidation so far, it would be a red flag for bulls. Eyes on LTC as we only need about 6-8% for a daily resistance break... BTC needs 10%. LTCBTC chart also has potential for a bull break as discussed in the most recent video. I personally am taking a break from trading today and will wait to see if we end up forming a lower high compared to $11,100, and end up with a broader daily equilibrium into next week.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Sticking to the 12H and Daily ChartsBTC remains slow and tight the last few days as a break feels imminent. Watching for a volume spike that lasts more than 1 candle on the 5 minute chart. Still short term choppy action but the bulls have a clear hourly uptrend as a guide to be watching. A trend change on the 12H chart would be notable for the potential that the $9k double bottom can hold. Bears are looking for an entry under $10,200 resistance, and watching to see if hourly RSI gets to the upper 70s. Still all cash and playing the patience game while we wait for bulls to prove something on the longer term time frames.
COINBASE:BTCUSD
by TheChartGuys
2
BTC Volume Suggest Move Imminent Declining volume, and very tight ranges will have us looking for a volume spike and break of the short term range sometime likely in the next two days. If we see a bull break, we can stay in the contained tightening range on the daily for quite some more time/ With a bear break we would look for 4 hour oversold conditions, and many traders are watching for the $8,500 range. Bulls still grinding weekly EMA12 support, keeping longer term consolidation healthy. I personally am patiently waiting for clarity on the daily time frame, and trading other markets while crypto trading is choppy. Keep those abnormal volume alerts on!
COINBASE:BTCUSD
by TheChartGuys
1
BTC Longer Term Downtrends Still IntactThere has been a lot of choppy action, short term volatility, and big spikes on 5 minute candlesticks. This creates an unclear trading environment on the shorter term time frames, and a trading environment where technical analysis is less of a useful tool. I personally took months off from trading last time this was happening. I certainly dont expect to take that long off here, but I am not trading or establishing positions until I see some clarity. The first shift in momentum needed for bulls is holding $9,000 and breaking $9,730. If we get a bear break I will be looking for 4 hour oversold conditions to begin scaling in for a bounce. If bulls break $9,730 I will establish a game plan that allows me some small exposure for the potential the bulls can still change the daily trend back in their favor.
COINBASE:BTCUSD
by TheChartGuys
2
Bitcoin Sell Brewing! 8500 to 7300 on cards below 11,200!!!! Bitcoin Sell Brewing! 8500 to 7300 on cards below 11,200!!!! Btc unable unable to clear 11,200 resistance and trading below middle Bollinger Band! Yesterday it closed daily above 20 Ema on Daily Time Frame but unable to hold it.. and returned back.. On 4hr it is in process of making Inverted Head and shoulders pattern and if it is really making.. Then low of shoulder would be around 10,000 or 9800 like the left shoulder.. So idea is to short/sell Btc at market price 10,600 with stop right at today's high around 11,080 or at 11,200 and take profits towards 8500 and 7300. Its a low risk setup with huge gains..!!!! I opened short!
COINBASE:BTCUSDShort
by Jollymolly
BTC Bulls Burden of ProofThe amount we have pulled back from the initial bounce forming the daily higher low is a bit of a red flag for bulls. We are seeing a lack of follow through and no confirmed 4 hour trend change on many names. If we do not see a solid bullish Friday and weekend, we will be looking back to the recent lows of support, followed by the low of consolidation support. I personally am tightening up and will be back to all cash if we continue to see fading and bear control today. Lots of focus on everyone looking for Alt season. I think this is absolutely a good idea as alt coins will likely bounce and gain on BTC, but as I shared in a recent tweet I do not think it will be a sector wide thing, and I do not think we will ever see 2017 alt mania again, based on experience in other hype markets with stocks.
COINBASE:BTCUSD
by TheChartGuys
Many Cryptos Resemble The Bitcoin Bottom From 2015Amidst all the recent bearishness on other cryptocurrencies (aside from Bitcoin) I have remained staunch in my opinion that altcoins could provide pretty substantial returns in a potential bull market, perhaps even outperforming Bitcoin once again. In my writing on the crypto market, I enjoy attempting to point out things that others might have missed. As you've probably noticed, I also like doing comparative analysis. I've even compared Ethereum's bottoming and subsequent rise with Amazon stock after the dotcom bubble burst. This comparison allowed me to predict the recent rise. In this analysis, I compare a number of prominent altcoins with the price action of Bitcoin during the 2015 bottoming period. It should be noted that this bottoming period for Bitcoin took roughly ten months (January - November). I have that bottom ending in November, since that was the first real impulse move out of the range. The massive volume bounces for altcoins after they initially reached their current bottoms could confirm that we have entered a drawn out accumulation period for many of these cryptocurrencies. If we look at the NANO chart (used in this example because I like the project and think it's superior to Bitcoin as a p2p currency), you'll see that this bottom accumulation behavior is eerily similar to Bitcoin in 2015. The oscillators even align almost perfectly. Nano's bottom is taking perhaps a couple of months longer, but if this turns out to be the final shakeout move for altcoins (much like Bitcoin's August 2015 move), we could see NANO completing its first impulse move up by October or November this year (yellow squiggle). I give it a speculative target between $10-14, as that would confirm a break of the range and the start of a longer uptrend. THIS IS IN NO WAY GUARANTEED. I'm just presenting a bullish case based on prior behavior in the cryptocurrency market. This space is highly emotional because crypto has the potential to disrupt the entire fabric of our society in a number of ways, much like the internet. But this is a little different (and perhaps more powerful). Crypto could permanently change the way we use money. I could go on and on in this analysis, but I'm just going to end the written section here, for now. You can watch my recent videos for more in-depth analysis/opinions. Below, I will present potential impulse targets for some of my favorite coins, if they have in fact seen the bottom. These are the ones that have made the cut for me. Depending on how the next year goes, I may diversify out or exit positions at particular profit levels. This is in no way financial advice, and I acknowledge that this is pure speculation. I may very well be wrong. The charts below show varying levels of similarities to Bitcoin in 2015. Some even look more bullish, as they've made higher highs and higher lows. Some look more similar (like Nano, XLM, and XRP). I'll also add that if we're going to see some moves up for some of these cryptos soon, Bitcoin may need to stagnate for a bit near current levels. I posted an analysis recently about an upcoming period of low Bitcoin volatility. XLM with a potential initial impulse target of $0.45 - 0.50. ONT initial impulse target of $4 -5 NEO initial impulse target of $40 - 50 VET initial impulse target near $0.03 XRP initial impulse target near $1.00 ETH has been following Bitcoin a little more closely (further away from the bottom than the others), but we could still see it head up to the $700-800 resistance zone if Bitcoin dominance drops. A couple of speculative possibilities for Bitcoin dominance: Alright that's it from me! -Victor Cobra
BITSTAMP:BTCUSDLong
by VictorCobra
4
BITCOIN Do Not Panic Still chances there to get 10000 !!!Look at the price move very closely ,you would see a clear pattern forming there. After a heavy pump from 9400 to 10900 price was gradually decreasing and creating panic among the traders. This is part of the trading Game as we all know very well. One who gets what is next as right he will win the race :) As per the chart , 9600 is the first support level ,price is bit trying to move up from here.If this move is successfull we get 10075 soon. In case the price fall happens ,still no need to panic as we have the strong support at 9300 ,price will again move up from here to level of 9800. So in either of the case it is evident that we get price above 9800 for sure. Leaving the panic away, look for opportunity to add position to see goo upside .Note this is just an analysis not a recommendation to buy ;Be cautious on your decision. As per LongBuyLongSell Auto Scan Indicator has triggered fresh buy in this time frame . with the help of LBLS indicator , i check three basic yet effective rules for Entry. Long: Make sure the candle color transitioned from Black to Blue / Red to Green . The Strength-meters Here is the example of Strengthmeters with Open Pine code ,it is nothing but group of top performing indicators,Used 7 indicators to predict this.Minimum 4 or above showing in charts in the current candle or within two candles in Green Color (Red for Short). Background Color changing from Red to Green is the added advantage. Short: Opposite of the Long Logic's. In General in chart we have to see a pattern the price is moving HH for Long or LL for short. Please study the price action techniques to understand the HHHL,LLLH for predicting the market. This is key to success in market. Remember : The LBLS indicator analysis is one of the easiest methods to recognize the price moves and usually quite reliable. In General no trade occurs the way we want it to touch 100% right. if we can predict entry 6 out of 10 correctly ,we will win the Game whatever be the indicator used. MONEY MANAGEMENT is the secret to make money and create wealth over a period of time. Every drop count makes ocean ,Every right choice you make creates a Rich. If you are winning an average of 60% of your trades with strict money management, you are going to win the Trading Game for Sure! Take out the emotion ,Practice disciplined trades. with the rules of the indicator and price action ,This looks to be a good short at this point of time. Share your views in comments section. Remember for right entry point Remember for Stop Loss Remember for partial take profit Remember for closing the remaining profit The Main Script behind the Analysis: Follow ,Appreciate ,Like if you agree ! Related Script Links Below .
BITSTAMP:BTCUSDLong
by MarxBabu
3
BTC Still no Sign of a 4 Hour Trend Change Bears have had a firm grasp of control the last 3 days as we look for a daily higher low to form. We currently have another potential 4 hour bear flag forming. I entered into some smaller BTC and LTC short term bounces last night just looking for a flip. I decided to lock in 1% quick on half and set a stop break even under the lows for the 2nd half which have not triggered yet at this point. This allows exposure to potentially hit the daily higher low, but also protection knowing there can always be another leg down. 4 hour EMA resistance is key along with the clear lower highs as we watch for a shift in momentum. If we do see another leg down, we will be on the verge of 4H oversold. Could we just drop straight to lower lows under $9k? Yes. Anything is possible and we must always plan for scenarios in both directions. However with how extended the 12H is the last 6 candles and with where the 4 hour RSI is we would not expect much follow through under $9k initially... if that were to happen.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Daily View Consolidation continues as the bulls search for the daily higher low. We are currently just below the midway point of the bounce, so any significant follow through for bears under $10,000 will begin to favor either bearish daily lower lows, or an equilibrium as opposed to a bullish trend change. There is little support in this area so we are looking at psychological support levels. BTC is getting extended on the 4H chart with no lower high set since $10,688. This will have me looking for the bulls to show up today for a 4 hour lower high to be set. Currently no plans to add to smaller BTC and LTC positions unless we get to hourly RSI in the mid to lower 20s on BTC. LTC and ETH holding up better than BTC yesterday.
COINBASE:BTCUSD
by TheChartGuys
1
BTC 4 Hour Tightens, Possible H&SCurrently in daily consolidation looking for a higher low to form compared to recent lows. If we see a bear break of this current head and shoulders setup the bears will be back in full control of the short term. I currently have exited 25% of my BTC swing position and had my first of 4 orders fill on LTC. This is a play to scale in looking for the daily higher low to be set. For me this is an area with a lack of clarity, which means I slow down or take smaller positions. We know the bulls need daily continuation over $11,100 to change the trend, and we know the bears want to see higher volume and push the price back to the $9,000 low. Some situations have high probabilities or what is likely to happen, and this current setup for me is more along the lines of a 50-50.
COINBASE:BTCUSD
by TheChartGuys
2
BTC Bulls Looking for 12H Inverse Head and Shoulders After a significant 15% bull move up very quickly on significant volume, bears have made their stand with a double top at the high $10,800. We are now watching consolidation on the 4H and 12H time frame to gauge if it is healthy to favor bullish continuation, or if the pullback becomes more significant and sets up an equilibrium. The healthy outcome would result in the chart depicted playing out for continuation of the bounce. If we were to fall back under $10k, the odds of an equilibrium heading into the weekend would increase. Personally continuing to hold a smaller swing position, and a loss of the 4 hour uptrend would likely make me continue to exit this position.
COINBASE:BTCUSD
by TheChartGuys
5
I Will Continue To Make A Bullish Case For Altcoins As I've been posting about over the last day or so, altcoins have broken down out of their uptrend channel. This was a bearish development in the chart, at least in the short term. It would have been a sell signal, as we did drop substantially since the trendline was breached. In doing so, altcoins have not followed the path I was speculating about when I compared Bitcoin's current price action to Summer 2016. I did emphasize that this was ONLY SPECULATION. The fractal has not played out, and as such, I need to look at other possibilities. I will continue to post new market cycle ideas as things develop. Bitcoin dominance has reached a very critical level (the 66.7 zone I keep talking about). Even if Bitcoin continues to drop from here, I don't think the altcoin market could withstand much lower ratios. I would not be surprised to see some alts recover 100-300% on their ratios from here in a very short amount of time, especially given the extreme bearish sentiment right now. I'm looking at XRP and XLM in particular - both of which have started to move up slightly on their ratios since I posted a long setup for them about a week ago. A lot of profit has been taken from Bitcoin whales over the last couple of weeks. Will all of it leave the market entirely, or will some of it go into alts that have retraced nearly their entire pumps from 2017? Despite mistakenly assuming altcoins would rise earlier, I did perfectly call the Bitcoin top near $13.7K. I also projected the exact movement for the crypto market up towards the $300B valuation and the top of the channel. Let's look at those posts: The total crypto market cap reached the top of its channel simultaneously with Bitcoin, and has since dropped down towards the bottom of the channel. It should be noted that those squiggles are projections that I drew months ago. Looking at the above chart, there could be some more downside (towards the 200B area) and it would still look very bullish. Given that the overall market has not broken its bullish trend, we can perhaps assume that further downside for altcoins form here may be limited. In this analysis, I'm speculating on a couple of scenarios. You can see on the left that alts broke out of a bullish channel to the downside in 2017. However, they found support and even though they never reclaimed that steep uptrend, they continued on up and have since never tested those lower levels again. This goes to show you that a breakdown simply means an interruption of the trend, and perhaps some slower growth. That breakdown actually caused a similar valuation haircut (roughly 50% from the peak). I'm just trying to put things in perspective, since many people are probably panicking right now. If we're in the early stages of a broader bull market, we could also see alts break down below the potential neckline I have drawn and retest some nasty lows from December/January. We could still hold the long term uptrend even if that happened. If you zoom out, you'll see that the pink support dates all the way back to the end of 2015. Right now, nothing fundamentally signifies to me that the crypto market will begin a long term bearish trend. ANYTHING is possible in this market. At any given time, someone could be predicting a new bottom as well as a new all-time high. Only one person will be right. From both sides, there are individuals who will rub it in each other's faces, saying "I told you so," as if it was obvious to them all along, where in reality all they did was make the right move at the right time. I'm seeing this all over social media. As humans, we tend to focus on these people who made "perfect" moves and forget that most people will lose out in the long run. These biases fuel our irrational and destructive feelings of envy, greed, fear, and anger. This is why we've created the market in the first place. Crypto is an offshoot of the extreme growth and wealth our society has amassed for itself. I think we've reached a plateau in terms of our population and technological innovation, so we created a whole new market based off speculative money just simply out of boredom. Whether or not this market becomes a whole new asset class for years to come....we shall see. I'm prepared to be wrong. Are you? This is not financial advice. -Victor Cobra
CRYPTOCAP:TOTAL2Long
by VictorCobra
BTC 4 Hour Bear Flag TestWeak bounce overnight but it was for another 4% to give us a lower high. Still watching the pattern of a lower high every day for the last 7 candles. When this pattern breaks we will look for a more prolonged bounce for a daily lower high. Currently being picky as a bull playing against momentum. I only had 1 small BTC order fill 9,300 and from here I have a few BTC and LTC orders scaled in for another leg down if we get it. Bears keep acting at EMA resistances with the most recent bounce topping out at hourly EMA 12. More Libra talk with the government this morning at 10 AM Eastern to be aware of. Bulls are trying for a double bottom but it will mean little unless we break the high of the bounce attempt last night.
COINBASE:BTCUSD
by TheChartGuys
3
Bearish trend is forming for LINK, a short term downtrend?LinkUSD has been by far one of the best performing cryptocurrencies this year, with one of the best teams and projects out there this is a solid project LONG TERM, but right now is showing some bearish signs for the SHORT TERM. After the massive uptrend for the last few weeks, Link has started to fall and the previous area of support around 3.20, has been breached downwards, becoming a new resistance and keeping LINK just barely above the psychological level of 3.0. The Ichimoku cloud shows that we have entered a downtrend as we are currently below the cloud and the MACD shows a bearish crossover, this coupled with low volatility could mean a big movement down could be about to happen, possible back to 2.0 or even below. I will continue to accumulate once 3.0 is broken down, LINK is still a great investment and my best ROI this year by far.
BINANCE:LINKUSDShort
by UnknownUnicorn2876186
BTC 4 Hour Consolidation Currently watching the 12H chart for clarity, but the 4 hour gives us a bit more detail. Bulls have to see a higher low and continuation on the 4 hour chart to be looking for the #D chart from videos to continue to tighten. If this is the top of the bull move, it would favor the bears on the longer term setup. Currently all cash and not seeing any short term setups that would have me enter again. 12H EMA resistance is rejecting the price and we will need a trend change on that time frame for the bulls to be comfortably within the 3 day tightening range. Alt coins continue to struggle vs. BTC, but we will monitor their daily charts for a potential trend change as the Summer continues.
COINBASE:BTCUSD
by TheChartGuys
1
BTC Potential 4H Bear FlagAfter confirming a previous 4H bear flag yesterday the current bounce is not giving much confidence that this time is different. Hourly trend change without much follow through and still EMA resistances to get over. Remaining cautious and continuing to execute my strategy of taking partial profit on bounces and certainly willing to buy each leg down after doing so. Eventually I am looking for a bounce on the daily to form a lower high as my target, but I will not pick actual levels for scaling out my full BTC and LTC positions until it is clear our temporary bottom has been hit. Most BTC RSI levels have cooled off, but not LTC which still has a 4 hour RSI at 20 and a daily RSI oversold.
COINBASE:BTCUSD
by TheChartGuys
2
BTC Potential 4 Hour Inverse Head and ShouldersBTC bulls have now seen a clear hourly trend change, hourly EMA as support and looking for the hourly bull cross of the 12/26 EMAs. The top of the last bounce attempt $11,840 was tested this morning and so far is rejecting the price. If bulls are going to hold the daily uptrend, we will have to see a break of this resistance level. 4H EMA resistance is lining up with price level resistance, so we may need a 4H higher low before bulls make another attempt. Daily inside bar is likely to form today and it would have to break bull for us to be confident the daily higher low is set. Setting up for a key weekend for the bulls to try and prove themselves. I personally have scaled out enough position to lower my cost basis as I talked about in the video and to give the bulls a chance to try and see this pattern through.
COINBASE:BTCUSD
by TheChartGuys
4
Mapping The Crypto Market Cycle - Part 2 is it finally time for at least a mini-alt season? This video is about why I was suspicious of the recent Bitcoin move up, and how the market continues to follow my June-July 2016 fractal pretty closely. Obviously it could deviate at any point, but I find this pretty fascinating. What I don't mention in this video, is that I figured some big money would be dumped into some alts after profit was taken during this recent move up for Bitcoin. A leveraged long opening at $10K and closing at $30K would net someone an enormous amount of profit. Even a small fraction of that profit could easily ignite a bit of a pump for some alts, particularly with a Bitcoin dominance close to 70%. I mentioned this theory on Twitter. I should emphasize that it's only a theory...however current price action is currently supporting my suspicions, as the rally was sold quickly, and some alts are showing some pretty bullish price behavior (long wicks, increase volume, etc.) This is not financial advice! This is just my way of documenting my experience with this crazy market. Hopefully you enjoy the ride as much as I do. -Victor Cobra
BITFINEX:BTCUSDLong
by VictorCobra
3
BTC Bulls Making a Statement Bulls in full control right now with uptrends on the weekly, daily, 4H and hourly charts. When we lose the hourly uptrend, we look for a 4H higher low, When we lose the 4H uptrend we look for a daily higher low. I personally will hold my swing positions as long as we are in a daily uptrend. The odds of a bull break over $13.8k vs. a weekly lower high continue to favor a bull break every higher high we push to. We have now had 10% follow through from the daily equilibrium break. At this point we pretty much would need to see a high volume bear attack out of nowhere to derail the bulls.
COINBASE:BTCUSD
by TheChartGuys
6