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Bitcoin (BTC) analysis 09 SeptemberBitcoin is on its way up since it last touched $9,400 on August 30. The critical level at $10,000 was broken thanks to the huge green candle formed on Monday, September 2. The coin continued its good performance on September 3 when it peaked around the important mid-$10k zone. Eventually, buyers went out of steam and started loosing their ground, even though the BTC/USD pair peaked at $10,950 on September 6. I expect another visit to the $10,000 level and most probably $9,700. Depending on the overall crypto market condition in the coming days, we might see another attempt towards $10,400 and $11,000. Pessimistic scenario: $10k is too weak to hold and we see a leg down to $9,100
BITSTAMP:BTCUSDLong
by FutureBlockchain
Weekly market update and developing (swing trade) long setup Week 29 - Market Update Hello everyone, welcome to this weeks market update. As usual, let’s start with the weekly chart. WEEKLY Not much has changed on the weekly chart. Our outlook is still that we will break the support around 6000 and then rapidly fall to 5000, eventually going even lower. However at the moment we seem to be working on a correction of the last big move down, respecting the downward channel. Let’s move to the daily chart to get a better idea of where this bounce might be heading. DAILY The daily chart looks interesting, first let’s see what Ichimoku tells us. Price and the tenkan-sen have crossed the kijun-sen, and the chikou span has moved into price. This tells us that we are consolidating the last downwards move, possibly heading towards a correction of it and moving up. However, we’re in a strong bear trend on the weekly chart, and it is very possible for price to breakdown and drop fast and violently, quickly breaking prior support levels as if they were not even there… So we will need conformation of price movement before we step into any trade. We also see the blue and red support and resistance zones which are trapping the price at the moment (as wel as the kumo). These create a no trade zone, and a break of one of them would either activate or invalidate our prior trade setup, as seen on the chart. There are no trades for us until price decides what it wants to do! Let’s have a look at our trade setup on the 2HR chart and see if it gives us any more information 2 HR Ichimoku gives us a bullish picture. However, because we’re still in the (daily) no trade zone the kumo breakout was not tradable. The price made a lower high, so we’re waiting for it to make a higher high to confirm a (short term) bullish move upwards. We expect the green scenario to unfold, after the price breaks the resistance zone we should move upwards to our first target fairly quickly, ideally after a pullback to the breakout level. However, be very conscious of the bearish scenario. The red arrow is very possible! If we see signs of the move upwards failing, the bulls will not have the strength to break the resistance and we will start looking for bearish entries. For now the green scenario is still at play and our short term long setup is still valid. breakout level: 6900 Invalidation: 6000 First target: 7775 Maximum target: 8360 So sit back, relax, and let price tell us what do to.. And remember, always remain calm. ZenTrading
BITSTAMP:BTCUSD
by DariusZen
1
Litecoin (LTC) Market OutlookHello traders litecoin is seeing a little bit of a selloff and we are approaching an important level. I will be looking to see if the price is able to bounce off of the 100SMA (the orange line) at the $255 level. if the price bounces and we get a reversal signal that price will be good for long term trades. However if the price falls below that 100day moving average i expect to see the price fall back down to previous support around the $230 price range. Just my insight hope this finds you well good luck traders and remember be PATIENT!! Peace
COINBASE:LTCUSD
by LadenStanford
2