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BTC shorts losing momentum? Strong case for BTC bulls?The BTCUSDSHORTS chart historically has been a good tool to look at Bitcoin's overall health in the cryptomarket. When BTC acts bearishly, BTCUSDSHORTS shorts go up. The inverse is also true - when BTC acts bullishly, BTCUSDSHORTS go down. Naturally shorts skyrocketed at the end of the great FOMO, with positive momentum lasting until April. However when BTC regained its positive momentum in early April, shorts fell again and bottomed out in May when BTC began another dump that lasted well into June (rounding teal line). What's interesting is mid-late June, shorts began forming a broadening top pattern - lower lows but higher highs - a case of indecision. Shorts fell out of this cone-like pattern, using its bottom trend line as resistance (A) before falling to complete its short-term measured move, the upper red line. It then had a false breakout, rising back into the broadening top (B), with price action coinciding inversely to BTC's second bottom @ 5782: However the false breakout was short-lived, shorts dipped again on BTC's June 29th pump to the upside (C). What we have now it seems is a descending wedge, with two touch points on the top trend line as resistance, and three touch points on the bottom trend line as support on the daily BTCUSDSHORTS chart. I have the 4hr chart shown here for the sake of more candlestick patterns. This pattern coincides with the overall measured move of the broadening top pattern, which is down at the bottom red line (D), also coinciding with the area where shorts rounded out in mid-May. The daily shorts chart also shows bearish continuance on the RSI: If BTCUSDSHORTS continues to act bearishly, hitting the measured move of the broadening top pattern while staying within the parameters of the descending wedge, BTC will continue to act the inverse, bullishly, no matter the small dips it may take along the way.
BITFINEX:BTCUSDSHORTS
by remlog
2
Bitcoin makes a bearish reversal againBitcoin had been forming a nice rising wedge since June 29th, and overnight BTC dumped out its bearish reversal pattern. BTC was not strong enough to hold at the 382 fib, and will most likely test the 50 fib as support next. If it fails to find support at the 50, it will most likely complete it's measured fall from the rising wedge at around 6.2k, which is also near the 618 fib. We are also having a super short lived golden cross with the 20ma and the 50ma both ascending over the 200ma on the 4hr charts (A). We are about to see the two death cross back under the 200ma, putting BTC back into official bear territory (B). Although one, or both, has probably already happened as crosses are lagging indicators on the charts. Buyers are still not convinced at these levels yet, and the bots that are running this show are just following the textbook technicals.
Long
by remlog
XRP fizzles out of uptrendA few days ago I wrote about XRP forming a very nice sharp downward sloping bull flag , indicating seller exhaustion and a potential nice break to the upside to the 55 cent area. XRP did wind up breaking out, and on even greater volume than the previous two pumps. Unfortunately, BTC hit a wall that day, creating uncertainty in the general market, and soon after XRP ran out of buyers and it completely fizzled out of its uptrend that had began on the 29th of June. This is confluent with the rising wedge reversal pattern XRP was also forming (teal triangle). It has since bounced off the 618 fib, settling around the 50 fib retracement area. However the measured move from the rising wedge is down around the 44 cent area, below all areas of common fib retracements, indicating potential bearish territory once again. With MACD and RSI oscillators showing strong bearish continuance, it would not be surprising if Ripple plays out this way.
by remlog
2
BTC symmetrical triangle breakout confirmedYesterday I wrote two possible scenarios of what may happen to BTC, the 2nd scenario played out. We witnessed a really nice clean hook and go off BTC. It tweezer bottomed twice on the top of the symmetrical triangle, utilizing that area as strong support, failing to even dip below to use that level as resistance, and it broke out nicely on even greater volume than the June 29th pump. This is good news for the bulls. Measured move is now 7000 area of the bull flag.
Long
by remlog
Trying to understand the messiness of BTC - the symm triangleBTC is consolidating healthily after a ~10% pump two days ago. At that time I also wrote about a false breakout of the rising wedge, and the probability of a symmetrical triangle being formed instead (teal triangle). I believe ever more strongly this is the case. The rising wedge had failed to make it's measured move of 5600, stopping short and double bottoming at around 5800 (giant letter A) followed by a nice strong swing back into a nice bull pole bull flag (giant letter B). Although the top of the pole seems to have put BTC back into that rising wedge, it has since trickled out of it (1) only to tweezer bottom nicely on top of the symmetrical triangle (2) and wicking off the .382 fib. I believe now that the top of the symmetrical triangle (thick green line) will be used as support and resistance. There are two likely scenarios that will happen in my opinion. 1. We will witness a dead cat bounce, where the bull pole bull flag was a false breakout of the symmetrical triangle. In order for this to be true, price action would have to break down sharply through that support level of symmetrical triangle (thick green line) and test the .50 fib or .618 fib (3). This scenario would not be very surprising as those are pretty common retracement areas after a big swing up, and BTC can still be bullish at this level. However if it fails to hold those levels then we are at the bottom of the symmetrical triangle and would lend more credence to the bears (arrow line down). 2. We will witness a nice hook and go off of the symmetrical triangle. BTC will continue to use the top of the symmetrical triangle as support and resistance, and eventually break out bullishly (squiggly arrow line up) out of the bull flag (4) with a measured move at the 7000 area.
Long
by remlog
VeChain teasing with a small break outAs with many altcoins, VeChain looks to have broken out of it's huge falling wedge, but not by much and on low volume. It is currently flirting with the top of the wedge and using that line as support. A bull flag pennant has formed on the 1hr indicating that price action is currently neutral. A break out can go either way. If it breaks down negatively, the measured move would be 2.19, placing the coin back into its falling wedge, falsifying it's breakout. If it breaks bullishly, the measured move would be 2.99 area. This break to the upside would also complete a nice hook and go, thus solidifying its larger breakout of the falling wedge and a nice measured move of 46.55% at 3.87. Good luck VeChain.
V
by remlog
3
BTC retracing healthily, look for a hook and goBTC is currently retracing from yesterday's pump. Ideally we want to see it retrace to either the bottom of the previous rising wedge or hook off and go from the top of the symmetrical triangle it broke out of (both areas marked in green). A visit back to the 382 would also be a healthy retracement area. However if BTC retraces further, we will have had a false breakout and be well back in the symmetrical triangle, which makes things more murky for us humans as all of the bots around the world that are mostly responsible for trading btc right now would automatically readjust their calculations negatively again. Wait and see how this plays out and don't FOMO or FUD. Good luck.
Long
by remlog
ETH(fundumental bull)Hey guys, ETH had a really really good news from CNN and Yahoo financial about SEC Director. 1- According to that good new we had a high volume entrance which lift up the price from 460$ to 510$ and now Ichimoku gives us bullish alert. 2- Tenkan and Kijun sen cross each other and they both are going up ……. 3- Senkou span A and B are making green cloud and they are going up too. 4- fibo retracement show that we can achieve 50% of the wave that I have selected and maybe we can get to 61.8% too. 5- after this bullish trend we may see 38.2% correction((540-460)*0.382=30.56)it goes something around 510-520 again and after that we'll check here again. #iraniantrader Donate if you like the analysis: BTC:14GhLU8J5UFhuqo1FT6BhXvbcQQEWSfcvP ETH:0xA55BF37C8e7ABF80C72f9c51f82Ed624A500784c Just like always its JUST A VISION BE LUCKY
Short
by samiyar
Bitcoin What Is The Next Move ?Hello , Everybody As we see in chart we have to major point to go and test the price channel , first one is 3970 which represents : 1- 0.32 Fib Lvl 2- 100 , 50 EMV The second point is 3985 which represents : 1-0.5 Fib Lvl 2-The previous upward trend that we break last day 3-MacD divergence happens on it (expected) So , bitcoin will stay bearish until we break these 2 points , if we don't and break the bottom of the price channel the next support point will be 8750 then to 8200
BITFINEX:BTCUSD
by Crypto-Ana
Waltonchain (WTCBTC) Very Strong (223%+ Earnings Potential)Waltonchain (WTC). A very strong altcoin with great trading volume is preparing for a new run. I received a message telling me about a breakout. I see that Walton (WTC) did breakout on the 4 hours chart but this breakout is yet to be confirmed on the longer time frame, but the fact that you are reading this, means that they are enough strong, positive and bullish signals on the charts for me to share this coin with you as a trade. I mention 223% earnings potential in the title, that is if we challenge the last all time high. "Challenge", not break it. If we break the last all time high and go to the next Fib. extension number (the next resistance level based on the Fibonacci sequence), we are looking at a nice 320% earnings potential... And you know cryptos, you know Binance even better, the earnings are crazy there on a daily basis, specially with such a hot and famous coin. Let's take a closer look at what we have here by starting with the fundamentals: > Waltonchain (WTC) - Release of WTC Android Mobile Wallet. (30-April) > Waltonchain (WTC) - Release of WTC iOS Mobile Wallet. (31-May) Waltcoinchain (WTCBTC) Trade Analysis by Alan Masters CHARTS, SIGNALS & INDICATORS Let's start looking at my favorite time frame, the daily chart (my second favorite is the weekly, gives you a great perspective of the mid/long term view of any asset):  - We have very strong and easy to read positive signals. - Notice first the red dotted line. This is a trend line, a downtrend, which has been broken by yesterday's breakout. We are breaking out again today. - Strong positive divergence on the MACD. A very strong signal on this time frame. - RSI is very bullish. It hasn't been this bullish for WTC since early February. Signs that things are changing for this coin. - MACD curving up, trending up and showing plenty of room left for growth. - I am in love with the weekly chart for Waltonchain, it looks really good. VERY BULLISH. We need a strong close this week for Waltcon (WTC) to "seal" a new "deal" for the weeks ahead. Note: The Ichimoku cloud and Bollinger Bands are telling me that we will have to face some resistance on the way up. That is more than ok for us, we are good with it, we don't mind waiting. What we are really interested in is securing our position so that we can sell as close as possible to the top once the Altcoins market is in its full bull run mode. For now, we spot the opportunities, buy in and hold... Later we enjoy the profits by selling high. We buy low and we sell very high... That's the most basic way of looking at it. Let's enjoy this trade now. TRADE INSTRUCTIONS Buy-in: 0.0014 - 0.0019 Targets: (1) 0.00213 (short) (1.1) 0.00233 (2) 0.00273 (3) 0.00313 (4) 0.00387 (All time high) (5) 0.00527 (6) 0.00767 (7) 0.01013 Stop-loss: 0.00121 Trade strategy: Buy & hold. Leave the rest to the market (hold and later sell for profits when we start to hit our targets). START LIVING TODAY Focus on today. Breath today. Enjoy today. Be happy, grateful and RICH... today. Starting living your day... Start living today! Namaste.
WLong
by AlanSantana
28
NANO (NANOBTC) Breaking Out (170% Earnings Potential)You know NANO on Binance? It just broke out of a triangle pattern. This is a very strong breakout, I am going to get right into it. NANO (NANOBTC) Trade by Alan Masters TRADE INSTRUCTIONS Buy-in: Up to 0.00099 Targets: (1) 0.00106 (2) 0.00118 (3) 0.00130 (4) 0.00147 (5) 0.00169 (6) 0.00193 (7) 0.00232 Stop loss: 0.00074 As usual, the weekly chart looks great as well for long term growth. Note: I am not home right now, so I will resume with our more "detailed" trades when I get back. In the meantime, make sure to position yourself and make sure to enjoy the profits. Allow this trade plenty of time to develop. Namaste.
NLong
by AlanSantana
143