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BTC (Y19.P2.E25).v2.Macro.Observations.Bearish.Factural.E02Continuing on with the MACRO observations, I revisited my previous Fractural and did some fib. measurements, to find confluences, with the following assumptions. a) Last part of the 1st factural where it bounced 40% to hit 10.4K, the $400 to be ignored due to the exceptional circumstances of the pump, hitting the 0.618 to 0.65 fib extension level. b) Applying the same method to the second factural, another descending triangle appears and which currently matches the first macro pattern to bounce and hit the 0.618 to 0.65 fib extension level, and not to go further than this high. If we apply the same fib.extension within the bounds of its associated descending triangle as per the chart, we can see we have the next target as 6100 - 6200 range. Even though this is very unlikely to happen, we are assuming the main thing is the price behavior will repeat again for the 2nd time. Its also interesting to observe that the target for this range has many TA's stating that the bottom is likely to be low 6Ks (using the volume profile indicator\metrics) I thought its worth sharing so people can ponder on it and come up with their own conclusions. Previous post related to this item Please give a thumbs up or a like if you agree or just appreciate the effort. Regards, S.Sari /CryptoProspa
by ssari
$VET showing strong Fibonacci$VET became one of my favorites after I saw it created a strong support at 35- 40 sat area. So I brought in bag full of $VET during it lower consolidation area. My recent analysis using Fibanacci reflects that we might see a strong uptrend in $VET if $BTC keeps stable. You can enter between 85 - 90 area. Stop loss at 75 or when $BTC goes crazy I will set exits as below, overall 50% profit from entire plan. Risk/Reward Ratio 1:3 30% of volume at 110 with 22% profit 30% of volume at 130 with 44% profit 30% of volume at 150 with 66% profit 10% of volume at 180 with 100% profit
Long
by cryptochi1986
BTC 12H Lower Highs as a Guide BTC bears keeping control as we see EMA12 rejections on the 12H chart and clear stair steps of lower highs on the way down. I am using the 12H time frame as the moves on the shorter term time frames are less clear in the past couple weeks of action in my opinion. ETH and LTC continue to hold on better, but they are not immune to the BTC pullback. Still watching the 12H falling wedge as long as lower lows do not see any meaningful follow through. Bears have no reason to cover positions as long as this trend remains, and while bulls are scouting entries and trying to pick their spots, many short term bulls have been stopped out due to lack of follow through on any bull moves. I personally will continue to wait patiently on the sidelines and set the criteria that I am not interested in a bullish position while EMA12 resistance on teh 12H chart remains.
COINBASE:BTCUSD
by TheChartGuys
1
Litecoin: Bull modeAs predicted in a previous post... Litecoin made a marginal lower low then proceeded to make an impulse move upwards... I am of the opinion that $47 was the low for the next run higher... I added to my position at that level and will continue to buy the dip whenever feasible... I expect a 3 wave pullback to occur soon and that will be the next opportunity to load up... Looking at the daily chart I believe we are currently in wave 3 of a larger 5 wave move up... My next target to take profits will be around the $400 mark (subject to change over time)... Thanks for checking out my idea! I am open to comments and constructive criticism... I encourage you to follow me on tradingview!
COINBASE:LTCUSDLong
by Chadison-Brosevelt
BTCUSD $7,900 importantBitcoin looks set to close the trading week in the red, as the number one cryptocurrency by market capitalization fails to rally from the $8,000 support level. The $7,900 level is the key level to watch today if weakness persists under the $8,000 level today. A sustained breakout of the $7,900 level is likely to trigger heavy BTCUSD technical selling towards the $7,500 support level. • The BTCUSD pair is only bullish while trading above the $8,600 level, key resistance is located at the $8,810 and $9,100 levels. • If the BTCUSD pair trades under the $8,600 level, sellers may test towards the $7,900 and $7,500 support levels.
BITSTAMP:BTCUSD
by OctaFX_Official
80 area is a clue to directionMorning guys, So our last udate setup is done - market has completed retracement to 5/8 Fib support area, forming "222' Buy" pattern and now is the moment of truth, because 8K level is a key to further direction. Downside breakout will significantly diminish chances on upside continuation and, in fact, will mean continuation of major downside trend. While, until BTC stands above it, it still could show deeper upside retracement, in a shape of AB-CD pattern. Its target stands around 8.8 area. Thus depending on your view - you could act accordingly. Bulls could drop time frame more and take long position, as current price lets to place very tight stop, just below major 5/8 level, hoping that upward action will happen. While bears should wait either for completion of 8.8K target or - yes, downside breakout of 8K level. So, Stop "Sell" order could be used.
COINBASE:BTCUSD
by Sive-Morten
4
Consistent Bearish Movement of Verge (XVG) Price Verge has been picking up ubiquity among individuals and its biological system has likewise demonstrated over 80% expansion. Nearly around 250+ financial specialists are currently tolerating the XVG as a method of settlement. Additionally, the group of the skirt is likewise searching for expanding the undertaking and attempt to include new pursuits with them. Current Status of Verge: Currently, the money is exchanging at the estimation of $0.004556 and its qualities is expanding by 4.05%. The market capitalization of the Verge is at the estimation of $72,579,219 and the 24-hour volume of the money is $2,023,613. The coursing supply of the Verge is 15,929,083,909 XVG. News Source: TheCoinRepublic
X
by TheCoinRepublic
BITCOIN Breakout Imminent! Hello Traders, Welcome to an update on BTC recent developments, Inside Bars Broke! Points to consider, - Testing support line, potential HL - Price rejected from .618 Fibonacci zone - Overall volume spike - Bart pattern back into support line - EMA’s acting as resistance to price - Stochs in lower regions - RSI is in neutral territory - Bull impulses are getting smaller Bitcoin has recently had a dump from a major technical zone, the .618 Fibonacci retracement and structural resistance being in confluence, was too strong for the bulls. Price retraced back to the trend line which is currently holding as valid support. This trend line is a crucial support base for the bulls as we are coming closer into the formations apex, the HL and LH will have to cross in the near future. We can see a potential bearish divergence forming, but this will be more probable if the RSI retests its upper potential resistance zone (Orange Ellipse). The Stochastics is in lower regions, telling us that upwards momentum is probable, this will be valid as it will allows the RSI to retest upper resistance, further putting emphasis on the bearish divergence. The VPVR shows low volume of transactions after local support level, Bears are able to pick up momentum if price was to break support. We must also consider that the EMA’s are currently giving price resistance, an upper edge to the bears… A Break from the support line will send BTC to test local support levels, (green zones), posting gains of a potential 12.6%. A break bullish can really change the structure of BTC, taking out the previous Lower Highs; will allow posting gains of 16.5%, remember to use stop losses when trading breakouts! Overall a break either way can tell us which direction BTC is headed on the Macro timeframe, we will either test yearly lows or head up and above all-time highs with in the next couple months… What are your thoughts? Will BTC break trend line and test lower support levels, or will BTC break through resistance and put in a higher high… Please leave a like and comment, And remember Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment - Joe Vidich
BITMEX:BTCUSD.PShort
by AzizKhanZamani