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Drop!

BTC dropping but until when?Looking at the 4h chart - price dipped all the way to the point of confluence (POC) and retraced back up leaving behing a long wick that usually says rejection. A new 4hourly candle opened and is now at the point of confluence for the last formation also accompanied by the presence of the yellow ascending trendline. Where do we go next? If we close below this local point, our next stop will be the point of the initial retrace, the POC at 47700. If that breaks we will be supported by the 200 EMA which is now at 43800. And if that too fails to support us we have another support at the 0.61 Fib at 40550.
by SublimeTraders
Sorry My Love, Healthy Correction Is Needed.Firstly, LONG LIVE CRYPTOCURRENCY AND BITCOIN. In the short term, I would be lying if I didn't think this is going to see a healthy correction onto Ichimoku cloud support. This is not technically a rising wedge. I drew a triangle to demonstrate the divergence + unsustainable support curve. I love Bitcoin man, Don't get me wrong with that... BUT I have been around long enough to know when something bearish is in the air. Sorry CryptoTwitter, I know you are very bullish right now, Sorry Elon...... Please be sure to buy the dip so we can all aboard the moon-ship again. Thank you. - Stay profitable - Dalin Anderson
BITSTAMP:BTCUSDShort
by High_Altitude_Investing
36
Possible large LINK drop in next two days. Great opportunity!I love Link, but have some indications of a decent size drop in the next 2 days. Could be a great opportunity for a buy if it pans out. I would be very careful shorting with low leverage on a coin like Link in a bull market but that could be a play as well. 1) There is a bearish divergence on the 4 hr that is significant with many indicators showing the same. 2) The last 2 bearish divergences on the 4hr resulted in 32%-47% dips. All to around the 200MA 3) The last 2 bearish divergences went from the high to the bottom of the drop in 1 day and 16 hours for both of them. Possibly coincidence or possibly a pattern that will repeat again. 4) If this works out-- it means we are about to drop for the next almost two days down to the 200MA area. 5) I put the buy zone box a little above this area as there is a good support/resistance area from the weekly chart just above that. 6) So buys could be placed above that weekly S/R, with a few laddered below to the bottom of the zone and the next weekly S/R. The only reason I would want link to drop is to get more for less. But any of you on high leverage may want to reduce or pause that for a bit just in case. I wouldn't short it, but keep some funds ready for this opportunity if this is one of the bags you want to acquire or add to.
Short
by jigga5000
2
BITCOIN Trading Education (MUST SEE)In our first trade, you can clearly see a break to the downside from the triangle formation. Once we had a confirmation candle this was telling us that Bitcoin could drop. The second factor was the extremely overbought RSI and a break below + confirmation closing below the 1hr 50MA. This gave us a fantastic risk to reward trade with a tight stop loss. In the second trade, you can see on the RSI that we have a bullish divergence which played out perfectly on the descending channel support which broke the resistance to the upside. Again with a great risk/reward with a tight stop loss. Taking profit on our overhead resistance perfectly. Here are two examples of trades with the corresponding break down on why they happened and how to trade them. Massive returns can be made trading Crypto with leverage but you must have proper setups.
COINBASE:BTCUSD
by GlobalHealthWealth