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Bitcoin 'Daily' Update - Day 338Disclaimer: If you are primarily interested in copying other people’s trades then this is not for you. However, if you are willing to put in the work that it takes to learn how to trade for yourself then you have found the right place! Nevertheless please be advised that you can give 10 people a profitable trading strategy and only 1-2 of them will be able to succeed long term. If you fall into the majority that tries and fails then I assume no responsibility for your losses. What you do with your $ is your business, what I do with my $ is my business. Click here for my Comprehensive Trading Strategy | Click here for my Comprehensive Trading Process | Click here to learn about the 2 BTC' to 20 BTC' Trading Challenge *Using Weekly Chart* Consensio: S EMA tried to make bullish cross with M EMA and looks like it is getting rejected which is very bearish. Patterns: Phase 7 Hyperwave | Bear Channel | A&E or Bear Flag? Horizontals: Trendline: Parabolic SAR: $4,123 Futures Curve: Backwardation Funding Rates: Longs pay shorts 0.0032% BTCUSDSHORTS: Took out horizontal support and appears to be turning it into resistance TD’ Sequential: Green 5 Ichimoku Cloud: Tried to break through Tenkan-Sen but appears to be getting rejected Relative Strength Index: Has climbed from 29 to 40 without the price going anywhere. I view that as bearish Price Action: 24h: -2.3% | 2w: -4.5% | 30d: +6.5% Bollinger Bands: MA at $4,186 Stochastic Oscillator: Rallying while price is flat Summary: In the last daily update I said that: “I can’t remember the last time I felt this bullish about crypto” In 4 days I have gone from very bullish to neutral / slightly bearish. When the market flashes a bunch of bullish signals in confluence and then fails to go anywhere I take that as a very bearish sign. We got a monthly Stochastic buy signal in confluence with a weekly buy signal. That is such a rare occurrence that it should be providing a lot of demand. The 4 & 9 week EMA’s were threatening to make a bullish cross for the first time in 7 months and likewise it should have created a significant amount of demand. The futures market was in backwardation while the price was greater than the 2 week high, this is hands down one of my top two most bullish indicators. An Adam & Eve appeared to be forming on the 1D and was very clear on the 3D. The monthly TD Sequential was on a red 8. The 50 day EMA was rolling up and acting as support. The daily Ichimoku Cloud was fully bullish and acting as support. Literally all of my favorite indicators were pointing in one direction which should mean there were a ton of traders seeing the same thing and entering orders to buy. When the supply overwhelms that much buying pressure then it is something to pay very close attention to. Big moves often come after supply completely overwhelms all of the technical demand. It is a very strong indication that bears are overwhelming the bulls with ease. This is starting to feel very much like late September 2018. I am going to be staying away from entering new positions until this range breaks. At a minimum that means the blue pennant that has been drawn and even then I may want to wait until $3,200 or $4,200 falls. On the bright side this will give me some much needed time to buckle down and focus on writing the book on Hyperwaves which I am co authoring with Leah Wald and Tyler Jenks. On the other hand I will have little motivation to make new updates until this range is broken. If you don’t hear from me for a while then that is why. I might have to change the name to Bitcoin Update and remove the daily aspect. Cheers!
BNC:BLX
by Sawcruhteez
8
BTC ADAM & EVE pattern points to $5200 after breakout!BITFINEX:BTCUSD COINBASE:BTCUSD BITSTAMP:BTCUSD BINANCE:BTCUSDT BITMEX:XBTUSD KRAKEN:XBTUSD The ADAM & EVE pattern is classic one, but quite rare and only valid in long-term time-frames, in this case the daily chart! Despite being a rare figure, it is quite simple to operate and set your target. The best entry is at the neckline breach and the target is the distance between the neckline and the EVE bottom, projected upwards. Now it's time to hope that this pattern will be confirmed with a breakup in the coming days/weeks so we can surf that big wave up. Please, leave your like, it is very important to me! God bless!
BITMEX:BTCUSD.PLong
by LiuTrader
14
BTCUSD: Rejection from BestFit Support Line and Adam-Eve FailureWhile the bullish fervor may have stirred me a bit, the bullishness is definitely gone with the failure of the Adam-Eve pattern. As you can see above, I made a failed trade at the beginning of the day, small position, and a successful trade right after, large position, which made my week on a Sunday; not a bad turnaround from being deeply red, and almost stopped out, to black in about 15 minutes (A more novice me would have definitely lost all of the first trade, with a large position never-the-less, and never made a second trade). (Entertainment Only)
COINBASE:BTCUSD
by Oatrick
Bullish BTC!? ADAM & EVE still forming!?Hi Guys! As we see on this 1 D chart on Coinbase, there is a higher possibility of A&E formation playing out now. As we are holding support by the 10 D and 21 D moving averages now. Low volume weekends can ruin it though... As everyone expects lower levels now, I still think we will pump up to at least to the 3850 areas to test the down sloping trend line. After BTC could retest this current support, it would be a great area to go long. But BTC might break down and continue lower at least to the 3200 areas again. Indicators are mostly neutral at the moment. Let's see... Happy and safe trading! *This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
COINBASE:BTCUSDLong
by SWINGPROFESSOR
Bitcoin: Adam and Eve formation showing 4450.BTCUSD is forming what looks like an Adam and Eve formation on 1D (turning neutral on RSI = 53.944 and bullish on Highs/Lows = 70.9091). What is more interesting is that it was achieved within the 1W 200 MA/EMA (drawn by hand due to cross chart conflict). This pattern suggests that a bullish target should be pursued with the distance of the Bottom to the Resistance being equal to the distance from the Resistance to the Target. Therefore that puts the TP at 4,450. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
BITSTAMP:BTCUSDLong
by InvestingScope
10
MFT - LONG - Trade OpportunityMFT Currently sitting on 0.00000074 High Timeframe price action looks like a possible A&E double bottom pattern, this play might take some time to huge profits but in the meantime we can play with the targets that we have below. Entry: 0.00000076 Target 1: 0.00000083 Target 2: 0.00000089 Stop Loss: 0.00000069 CryptoCue is not providing investment advice and is not taking subscribers’ personal circumstances into consideration when discussing investments. Investment involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire position. CryptoCue is not registered, licensed or authorised to provide investment advice and is simply providing an opinion, which is given without any liability or reliance 1.71% whatsoever. The information contained here is not an offer or solicitation or recommendation or advice to buy, hold, or sell any security. CryptoCue makes no representation as to the completeness, accuracy or timeliness of the material provided and all information and opinions provided by CryptoCue are subject to change without notice and provided on a non-reliance basis and without acceptance of any liability or responsibility whatsoever or howsoever arising. You hereby irrevocably and unconditionally waive, release and discharge: (a) any and all accrued rights and/or benefits you may have against CryptoCue in respect of any opinion expressed or information conveyed by CryptoCue at any time; (b) any and all Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time; (c) CryptoCue from all and any claims (whether actual or contingent and whether as an employee, office holder or in any other capacity whatsoever) including, without limitation, Claims you may have against CryptoCue arising out of any opinion expressed or information conveyed by CryptoCue at any time. ("Claims" shall include any action, proceeding, claim, demand, judgement or judgement sum of whatsoever nature or howsoever arising.) You hereby agree to indemnify and hold harmless CryptoCue in respect of any and all Losses paid, discharged, sustained or incurred by CryptoCue in the event of bringing any Claim against CryptoCue. (“Losses” shall include any and all liabilities, costs, expenses, damages, fines, impositions or losses (including but not limited to any direct, indirect or consequential losses, loss of profit, loss of earnings , loss of reputation and all interest, penalties and legal costs (calculated on a full indemnity basis) and all other reasonable professional costs and expenses and any associated value added tax) of whatsoever nature and/or judgement sums (including interest thereon).) CryptoCue is not a broker-dealer or financial adviser and is not affiliated with an investment advisory firm and does not engage in activities that would require such registration or authorisation by any governmental or regulatory or supervisory authority or body. CryptoCue and/or any persons affiliated with CryptoCue, are not responsible for any gains or losses that result from the opinions expressed herein. Investors should consult their registered authorised professional financial advisor before investing. Opinions discussed herein have not been reviewed by the securities and exchange commission or any state or other.
MLong
by ElMomento
Adam & Eve bottom forming on $ETHBTCIt appears that Adam & Eve bottom is forming for $ETHBTC, which is a solid reversal pattern. It's a double bottom pattern characterized by the first, sharp V-shaped bottom (a.k.a. Adam), followed by Eve's rounded bottom, usually not reaching below the Adam's low. There's also a confluence of at least three more bullish factors: 1. RSI in the oversold range; 2. RSI divergence suggesting price bottoming; 3. Price sitting above weekly support level (not shown in the chart, zoom out to see). Expected price action in the coming days is shown in the chart, with 1st target range shown in green. However, if the pattern fails and weekly support breaks, a drop to the lower range of weekly support is expected (about 15% lower), and if that breaks there's a long way down to the next one. Feedback and comments are very welcome. Safe trading! Disclaimer: This is not intended as financial advice, trading is your sole responsibility, please do your own research.
Long
by ZZip