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BTC/USDT Binance - Bearish Corrective WaveFinally could be the finale here folks. I think we are going to retest the 6k price range and exceed the previous low to complete this "healthy correction" why is it healthy? because (i believe) its not an all out crash. This is a healthy market retracement that will eliminate the bitcoin non-believers. weak hands as others refer to them by. These are ppl who don't A) have the vision to see where and what bitcoin is, and B) don't have the stones to stick this out. most media attention and general consensus i get from the average non-crypto believer is that its "fake money" or they all reference how it is a bubble and therefore needs to deflate. they are always quick to point out that it was as high as 20k and now its crashing and somehow thats proof its not going to make it as a long lasting investment option for the world markets. or there are ppl out there who think that the journey to 20k was only 'ice cream and puppies' aka good all along the way. So these ppl who get in with this notion, thinking: 'all i need to do is buy BTC now, put like $1000USD in and in 1 year/5 year/10 year ill be RICH!' ....then the price dips lower than what they bought at. and then it dips lower, and lower, and lower, and seemingly it will never reach the bottom....and its only dipped like 20%. by the time a greater drop occurs - they get wise and decide to exit only to see the price make a mini rally. and then they jump back in, and watch it descend....and the cycle repeats. Awareness of price direction - which elliot wave theory helps to identify and determine using a strict set of rules and guidelines, pushes panic away and hopefully remove the inescapable emotions we all feel when the market moves in a direction no one wants to see. stay calm. bitcoin is not going anywhere, it will not crash to zero. buy the dip, and if have been buying dips and you are out of cash - then wait or make more cash so you can get more dip. lets see what happens. :)
Short
by astoinis
2
[BTC-USD] FALLLING WEDGE -ROCK BOTTOM STILL POSSIBLY COMING? After my analysis, I have determined that I temporarily disagree with other analyst in which they have determined that a bullish reversal is coming or near. We have been in a negative trend for quite some time now. It astonishes me to see that just cause today Feb 7th, Tuesday has been a decent day in crypto and BTC specifically watching BTC go back up a little , other analyst so confidently can predict true reversal. In my humble opinion, I still believe that BTC is suffering from significant volume as shown on my chart. To prove this , it needs to have a SIGNIFICANT amount of buying volume in order for that bullish reversal to take place. At this point, I am personally staying away from buying any more BTC until I get a better micro picture of this holistic bearish trend-(Falling Wedge) that I continue to identify. On this chart I have identified 3 different testing targets in which BTC will test on its way down in order to complete if cycle and then begin a true and real reversal as identified on my chart. There needs to be way more volume for a true reversal to take place!! That's not going to happen until it reaches rock bottom in my opinion!!!!#!! We saw that on Feb 5th went down as low as 5k or so, testing a lower low. Well I think that was a brief sign of just the beginning. As projected in my analysis I still think it can go down about 40% -50% lower from todays price of $8,033-$8,200 from what I see. Of course, NO one has a crystal ball, but this is what I see and for the time being and for now I am not convinced that a true healthy bullish reversal is in effect. So in conclusion, be careful with BTC, you could potentially tank 40% to 50% down more if you buy now. Do you own homework with your own analysis. Do not follow the sheep, including me. Think critically and make your own final determination of predicting where the market will go with BTC. Another video by CryptoBuzzAnalyst. PS. Don't forget to hit the like button if you enjoyed my video. Your support is appreciated!
COINBASE:BTCUSD
by CryptoBuzzAnalyst
3
GBPUSD How Low Can You Go?After losing momentum after testing the 1.43 level on the Daily time frame price has moved lower and has formed a bear Doji candle. This indicates some indecision in the markets at the moment, Sterling trying to find its ground moves lower and lower breaking the 1.4 level. Hovering just below this level price action needs to decide if GBP will find itself heading to our major daily support @1.38. Perhaps we could see a retracement to the upside if we break through our 1.4 level of resistance. If so we might see price reach such levels as 1.414, or even 1.417 acting as the resistance targets. Patience is key in seeing whether the bears will overrule the indecision phase and head to our more defined support targets at 1.38544 and lower still 1.376. Having tested the 1.38544 level once already, we could see a break without a retracement. Thus this indecision phase can add some momentum to this pair and show us the path to success. Thank you for reading! I appreciate the time you take to have a glance at my ideas. Leave a like or comment if you enjoyed this or found it helpful! Thanks Again - Alex
Short
by Alexkly
[BTC/USD] DESCENDING TRIANGLE-BREAK OUT HEADING LOWER-WATCH!I've identified a bilateral pattern otherwise commonly known as your typical descending triangle. Today Feb 1st, 2018 at approximately 5:30 am it broke the support line from the triangle as you can clearly see. That signals a breakout downward. Now , the questions is where it will try to test next. Well, Ive identified an old trend line that is the purple dash where I believe it will try to test which would put BTC at approximately $8,000 Most of the dumping from BTC is coming from the ASIAN markets primarily china since they are having their annual celebration which takes place in the early weeks of February of every year. After that party is over i see BTC correcting to healthy levels attempting to complete its cycle and gain correction back up in a bullish trending manner. For now , watch BTC since i definitely see it trending lower and lower. The anticipated rock bottom would potentially be somewhere between $5,200 and $8,000 in that range. As for the alt coins, well I also believe they will take a hit since they piggy back on BTC. Disclosure: I do not provide financial advice. This is only for educational purpose. Do your own research! PS: Don't forget to hit the like button if you enjoyed this short update on BTC. Video will be my main method of content distribution. Thanks CryptoBuzzAnalyst
COINBASE:BTCUSD
by CryptoBuzzAnalyst
2
ETHUSD: New Lows Into Support Zone. Attractive Investment.ETHUSD update: Dramatic retrace takes this market back to the 872 upper boundary of a larger magnitude support zone much faster than expected. Price is now in an area that offers better opportunity on the long side, but price stability needs to present itself. My long at 1311 got stopped out at 1243 which protected me from 400 more points of pain. What you are seeing here is REALITY. Markets retrace and when the pullbacks are dramatic, it shakes out the weak hands who have no structure, trading plan or risk management. I got stopped out, but like I explained in that report, the stop was wide, so you adjust for that in your sizing. Also the wave count, (as much as the critics keep criticizing TA) served as a helpful hint that a broader correction was likely. I kept writing about that also. The question now is: what to do from here? Is the market going back to 500? What about all the hype and drama? First, this retrace is normal and healthy. As a short term speculator, I don't care what triggered it because the wave count showed it was coming. Now my focus is how to capitalize on the members of the herd who are getting pushed out of their positions by their own ignorance. And that means I am looking to get long again, but only when the signs of stability reappear at the appropriate levels. The first level to note is the 984 level which is the lower boundary of the reversal zone projected from the 1073 low. The fact that price has broken below with such conviction is a bearish sign. It points to the next support zone as a more likely place for the reversal process to unfold which puts the following point into perspective. The 872 to 739 support zone is the .618 area of the recent bullish structure. Price has reacted to the 872 level which was projected weeks ago. Since the momentum is still bearish, it is reasonable for price to fall into this zone before finding stability as well which can come in the form of a double bottom or higher low formation. The reversal process from here is likely to take time and when the market finally starts working its way higher, a reasonable target to LOCK in some profits is projected around the 1216 to 1304 resistance zone which is NOW the .618 area relevant to the current bearish swing. This process can take a few days to a week to unfold. Also for the more aggressive, and longer time horizon investors, this is not a bad area to start accumulating some fractional positions. Without using margin, and placing limit order below the market without any stops, gives you the opportunity to get great prices while keeping your risk low. This averaging technique is effective when you do not use margin and control risk through sizing. As the market goes lower which can easily happen, you only feel a fraction of the pain, rather than magnified pain that comes with the use of margin. As this market finds stability over time, you keep adding small amounts. As long as your long term outlook is bullish, and you manage your risk with careful sizing, you can build a core position while fear forces the herd to unload their coins. So you are looking for an average price, rather than buying it all at one price (high risk). It's like a sale at Macy's. In summary, markets correct. It is a normal process that occurs over and over again and it offers opportunity to those who understand the herd mentality and do not get sucked into the ignorance and hype which are rampant in these markets especially. There are no short term trade setups at the moment, but in terms of the bigger picture, this retrace can be considered a general buying opportunity in my opinion. This is why structuring your trading and investment process is so important. Without a framework to guide your decisions, you are more likely to react rather than anticipate.
BITFINEX:ETHUSD
by MarcPMarkets
22
Trends are THE MOST IMPORTANT tool in the toolbox.Hello Traders. Hope everyone is staying warm. Snow and zero degree temperatures expected in Virginia. Many traders use many different indicators. There are so many its impossible to tell which ones are useful. Simplicity is key. The most important tool in a traders toolbox is the ability to deceiver the prevailing trend. Using higher high/ lower low analysis we can identify the difference between strong market moves and weaker ones. This stems from the well known philosophy that in order for markets to continue moving in the correct direction they need to confirm momentum shift before making large moves. -Resistance is considered overhead levels that price struggles to break AND CLOSE above. -Support is considered under price levels that price struggles to break AND CLOSE below. Notice how I mention, AND CLOSE. It is 100% required that price CLOSES above the support or resistance level to declare it broken on whatever time frame chart being traded. After the perfect head and shoulders pattern unfolded many traders continued to short EURUSD without much success (Took a stop loss myself) One must recognize the downward momentum was triggered by the bearish head and shoulders pattern (see attached post, traded perfectly.) In actuality the trend is still bullish. At the end of the head and shoulders move, trend reversed only briefly. Price was unable to break the low before moving higher. At (1) the first top was made. After making new highs, we always expect a retest of old resistance confirming support. (2) Price came back and tested old resistance, confirming support in a reckless fashion. This wiped all long traders out and assured direction for short traders who were burned before. Once everyone was mixed up, the trend prevailed to the upside. Now we find ourselves at (3). New highs have been confirmed so price is expected to retest old resistance to confirm as support around the 1.19500ish level. At this level I will be watching diligently for signs of rejection and ready to take entry on a single close of any rejection formations. If we confirm price action, targets are estimated around 1.2300. IF you found this useful or thoughtful Likes/Comments/Follows are much appreciated! TElphee – Self-made Technical Analyst. 5-year market enthusiast with experience in Forex, Futures and Cryptocurrencies. Disclaimer: Oanda data shown. This is NOT investment advice.
Education
by UnknownUnicorn981629
8