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Bitcoin future looks uncertainHi there, I'm a 20 y/o noob trader from South Africa. Have recently become interested in BTC. Here is my first idea: It appears to me, that coming into 2017, BTC began exhibiting the first signs of an Elliot wave developing. I have marked this Elliot wave in blue. The reasons I consider this movement to be in line with that of an Elliot wave is as follows: Waves within an Elliot wave are perpetuated by movements between optimism and pessimism in natural sequences. These differences in attitude create patterns in the price movement. Properties of an Elliot Wave: Wave 1 - Hardly ever obvious at its inception, previous trend is still considered to be in force. Wave 2 - Corrects wave 1, never extends beyond the starting point of wave 1 however. Bearish sentiment builds. Volume is lower than wave 1. Wave 3 - Prices rise quickly, corrections are short-lived and shallow. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three's midpoint, "the crowd" will often join the new bullish trend. (volume higher than wave 2) Wave 4 - Volume is well below than that of wave three . This is a good place to buy a pull back if you understand the potential ahead for wave 5. Still, fourth waves are often frustrating because of their lack of progress in the larger trend. Wave 5 - Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Now, we see that in 2017, BTC has been met with resistance at around $1050. You will see on the graph, highlighted in red circles, that BTC has tried to penetrate the 1050 channel for a while now, and keeps being met with resistance, only to find support at around 900-950, hence the 950 support line. Even today, 29/03, BTC struggles to maintain its price above 1050, but sees strong support in the low 900s. Right now, I would short at $1050, and hope to catch BTC at about $950 within the next few days - presuming it heads down. Should this happen, another option that opens up is going long at about $950, where BTC is sure to bounce off support again up to $1050 resistance. TL;DR - Would short now at ~1040, wait for the dip and 950 in the next few days, and then go long. HOWEVER, should BTC continue to climb into the $1050 resistance channel, we could then see that channel acting as SUPPORT. So keep and eye and be careful. Happy trading! ~Callum~
BITSTAMP:BTCUSD
by UnknownUnicorn897809
2
Ethereum likes technical analysis...Recent `war` on Bitcoin lead a lot of traders of digital cryptocurrencies to others options,such as Ethereum. Ethereum`s triangle ABC broke upwards. We can create the first target by clone bc side of the triangle and move it upwards to AD. We can see that the first target is already reached. The second target T2 it`s created by EF if we clone AB side and put it at the day price broke the triangle. We can put a stop loss inside the triangle and above a very good support at 45 area. Volume appears to be more intense on upwards moves. LONG AT 60 AREA STOP LOSS AT 45 AREA HAPPY TRADING GUYS!
BITFINEX:ETHUSDLong
by The_Greek_Trader
Fate of BitcoinAs price going down, we can see the volume is rising slowly, but not meaningful big positive vol. until now. We can see 2 meaningful S/R line around 1000 and 953 dollars The pink one : candle broke this line at 8pm(UTC+9) and after candle couldn't rise than 953 line. so i guess that red rectangular area was good chance to take short position. The black one: in the right frame, we can see black line supported candle on 9th Feb, and then 19th March. but this time candle broke again going down and still under black one. So, if we don't have any bitcoin, i think we should wait until the candle break black one making stubborn bottom with checking positive volume. and if we already have any bitcoin, it is not good timing to enter any position and at the same time not bad timing to anticipate rising again.
BITFINEX:BTCUSD
by KLYP_Investment
Bitcoin Crisis (4h) After finishing big downtrend since oct. 2015, when bitcoin meets a crisis for each time, we can see candles move horizontally around EMA 633 and be supported by that. For example, as you can see in the left red box, the time when Bitfinex get hacked in august 2016 and sudden big downtrend by China in January 2017 and the last one is nowadays because of rejection of ETF and negative issue of bitcoin hard fork i guess. And also this time we can see candle is supported around 980~960 dollars with EMA 633. Let's wait and see whether this area would be broken definitely or not.
BITFINEX:BTCUSD
by KLYP_Investment
2
Promising Coin, Charts Agree.... waiting for moment....Promising coin, new unique algo, the only coin with real anon security, dark markets will eat this up driving the price higher but let's look at the charts. Using the Ichimoku cloud for the support we should find out selfs bouncing around this ascending triangle. Key long position will be entered when candles break to the upside of the triangle while remaining above the cloud, RSI shows room to play and we have a macd cross. I will be scalping long, short, long, short then entering LONG large after the break.
Long
by console
2
Ethereum Long OpportunityPrice is currently sitting between a .618 and .786 retrace from the all-time high. A bullish fractal confirmed in the new year. Price is also below the volume point of control. Entry would be anywhere between the .618 and .786 levels. Short-term targets could be a 50% retrace or the point of control. Notice how similar these levels are. Fundamentally, Ethereum Enterprise is finding a footing in the legacy banking system. Also, there seems to be a lot of uncertainty in Bitcoin. Ethereum and Bitcoin tend to be non-correlated markets.
Long
by mkoller
Steem ready to interrupt the current downtrendAfter weeks of continued price decline in the STEEMBTC currency pair, a change to the upside might be at hand. We have seen earlier that a break of the major downtrend line led to some substantial upside. In addition, this time the newly unfolded downtrend line coincides with the 2/1 Gann line, drawn from the high to a significant local low, suggesting the significance of the entire Gann fan. A break of such line indicates a move to the next Gann line, i.e. 3/1. How soon STEEMBTC reaches this line can only be guessed. In the scenario outlined on the chart there would be a potential profit of 250% and a potential loss of 15-25%. The stop-loss is determined just under the current all time low. I am not responsible for any loss on your side if you would do this trade, but I sincerely hope this plays out as expected since I am invested myself. ;)
Long
by RustyRue
10
Bitcoin fever!Trend remains up!Last weeks we had a lot catalysts on Bitcoin,some of them were the desicions for regulations on it from Bank of China through the chinese exchanges.All of the three major Chinese exchanges – OKCoin, Huobi and BTCC – announced at the beggining of this week that they will start Bitcoin withdrawls but it was just yesterday that announced that they will postpone the resuming of bitcoin withdrawals. Plus we are waiting for the approval of ETF based on Bitcoin.The forthcoming SEC announcement about whether or not a Bitcoin ETF would be allowed could have also played a role in recent price movements. Some have suggested that the declines resulted from insider trading and speculators betting that the Bitcoin ETF would not be approved.The hedge fund Global Advisors Bitcoin Investment Fund (GABI), in a letter to subscribers, noted this week that it believes there is only a 25% chance the ETF will be approved. Despite those facts as we see we had only a minor 23,6 fib retracement and bounce of significant suppot around 1140$ area. As we see a 4 wave elliott structure has formed and we are waiting the 5th wave before a bigger correction occurs. Bitcoin trading and exchanging base is growing rapidly,demand follows... Bitcoin fever is spreading in a tremendus pace globally and it's difficult to stop it as facts show us even if you are PBoC....
BITSTAMP:BTCUSDLong
by The_Greek_Trader
1
Will Monero (XMR) hit a new all time high in May?A bullish pennant (in green) has been developing since a bounce off of support at 0.0096 in late December 2016 reaching a peak and finding resistance at 0.0167. A cup & handle pattern has been clearly identified and at first it looked as though XMR would be ready to take off in early February 2017 buoyed by the anticipation that Jaxx would be adding an XMR wallet to their multi-platform app. As news came out that this addition would be scrapped for the foreseeable future the price took a tumble below Support Line A which had been holding since November 2016. The price eventually found support around 0.0118 and from this we can see that Support Line B has begun to form which has held firm for roughly 2 weeks now. On 14th February we began to see a rapid climb up in price again, almost reaching the price level of late January, but it was unable to break through Resistance Line A (formally Support Line A), where the top line of the green pennant transects with Support Line A at 0.0137. This coincides with Bitcoin's current bullish sentiment, which despite the negativity coming out of China that BTC and LTC deposits and withdrawals would be halted on Chinese exchanges for a month whilst AML (Anti-Money Laundering) systems were upgraded, anticipation of the BTC ETF getting the go-ahead along with issues of a far greater geo-political context are encouraging a run into BTC for speculative as well as safe-haven purposes. Bearish sentiment should be prepared for however if the ETF gets rejected, and one major crypto-currency which could gain the most from this result is XMR, which unike ETH for example, is designed to be a currency, whose privacy features are far more advanced than BTC and is not currently bogged down by the infighting surrounding the blocksize debate. Now, looking at the pattern as it has developed so far, we can already see that XMR peaked in Sine 1 in September 2016 followed by a trough in Sine 2 in November. A peak occurred again in Sine 3 in January 2017 and it is here we can see the price working its way down (even though the pennant is bullish) aiming for Support Line C. All signs currently point to a much higher trough in Sine 4 (a higher low) which is a very positive sign. If sentiment for Monero holds strong we might see a break outwards and upwards of the pennant by the end of February 2017 with Line B as the support until a break through Resistance Line A is achieved. This would take us into Sine 5 - the area judging by previous price movements which can be expected as a peak price area with a pinnacle price point in May. If sentiment veers more to the weaker side we could see the price drop through Support Line B to continue the part-completion of the pennant. However, as indicated in the chart, pressure from Support Line C along with support around 0.0118 could then be the springboard which propels the price upwards into Sine 5 beyond the level achieved in Sine 3. Currently the pennant suggests that when it completes, the price it targets is 0.0185 which is in a region of resistance/support from way back in the Sine 1 time-frame. A break through this area might help propel us into the 0.0200 zone which could then very well see a new bubble in price forming as excitement surrounds where it will rise to next. Will Monero hit a new all time high in May? To be continued...
Long
by CryptoCoinNomad
1