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BTC Analysis 4/8/18 Undeniable Buying Opportunity NEW TRENDSBTC has broken its resistance levels and continues to wow investors with the growing sentiment of buyers in the market. Within the past few weeks the price has finally flirted with the sub 6k resistances prior to the beginning of the initial volume uptrend of the crash. The bandwagon bears may have finally sold every last penny of profit since BTC became mainstream. When looking at the exponentially decreasing selloffs since the maximum price, the trends are steadily fighting and pushing through 7k resistance levels with every passing day. These pushes are defying any previous pattern seen in the market, and we could truly be seeing the development of entirely new positive trends. Hopefully this new sentiment truly signals the reversal of a bearish market that has overstayed its visit.
Long
by rolflocher
NOW - Negative downward momentum short from Now seems forming a negative downward omentum setup along with negative Twiggs money flow divergence. It also has Plenty of selling but mostly around 5-20%. We think it will decline from here. * Trade Criteria * Date First Found- March 23, 2018 Pattern/Why- Upward channel breakdown, smart money short setup. Entry Criteria- $52.46 Exit Criteria- $45.57 Stop Loss Criteria- $55.88 Indicator Notes- Twiggs money flow deep into the negative side. Special Note- BIG selling - over 750 million dollars. Could consider $60 September Puts (currently $5.30) Please check back for Trade updates. (Note: Trade update is little delayed here.)
NYSE:NOWShort
by AcornWealthCorp
Bitcoin: BTCUSD Grinding Higher - But Raise Stops Bitcoin: BTCUST Last Update 01:20gmt/20:20est Bitcoin is continuing to grind higher, still contrained by the parallel above it.It's double topping in the near term - has to find buyers enough to push above the high at 11490 on Coinbase feed but will likely still get rejected by the parallel above it even it can push higher now - but grinding upwards towards 11765 completion target perhaps sometime around 14:30 est tomorrow. A small speed line is forming under the lows of this break so far and bulls will be looking for it to hold firm to avoid the risk of Bitcoin topping out in near term and moving into a dull energy sapping sideways to downwards movement due to lack of follow through come far east opening. So It's Ok for swings to stay long for now in hope of 11765 later but consider raising stops to under the little dynamic by 50 points or so to trap in 300 plus points profit for the day even it does wrong from here. It's been hard work all day. It would be a shame not to let it run, but also a shame to risk it slipping away. These choices are ultimately down to profile, as usual. Any move and hold above 11765 (could only be due to far East volume buying) would be extremely bullish - but unlikely in the near term. Nevertheless if wrong and we see it happen at any point over the next 24 hours we follow long once more.
BITFINEX:BTCUSDLong
by sumastardon
Bitcoin BTCUSD Trying Hard to Change Trends Today Bitcoin BTCUSD Trying Hard to Change Trend Bitcoin broke above the 9537 line here and then moved up to testthe upper parallel, making an 02:15gmt/21:15est high within the first hour of far East opening before falling away \again to an 08:15gmt/03:15est low right on the blue support line at 9373 before bouncing again on European interest at the lower levels. Now it's bounced to touch the first line of resistance at 9537 once more and day traders are taking a fast 200 point win and cashing back out again many of whom have shorted at the usual 06:00gmt traditional short time and made 200 down and now 200 up again. At the moment Bitcoin is still in day-traders' and scalpers' territory with no killer swings to trade as yet. It's still trapped in a downtrend but is at least trying to form a higher low so far today and therefore showing first signs that this downwave is running out of downside momentum. In very near term it's gone into a small continuation pattern and is trying to break above the 9537 line where fixed and dynamics converge - tiny pins below and above price forming on 15 minute chart meaninga big battle is raging below the surface here. Things only begin to turn positive again now when the 9537 line is retaken and held by the bulls - that will likely lead to a test of the upper parallel again at 9682-9715 - and then the big test...Bitcoin has to break and hold above the 9715 level before the last bear will back off. It would be yet another brilliant escape act by Bitcoin if it can manage this at any point today, attracting every bull still left in town back to the game and should be followed higher if we see this price action develop. But until then Bitcoin is effectively trapped at these lower levels and the downtrend remains in force - but it's not super- bearish here, just mildly so - and so we need to watch it here to see if it tries to break above the smallest parallel of the continuation pattern - if so can follow with stops below 9480. Otherwise we wait for lower values still.
BITSTAMP:BTCUSD
by sumastardon
10
Bitcoin: BTCUSD On Important Support Right nowBitcoin. Clock-Work 05:53 est another 01:00 gmt low, another at 06:00gmt. And high at 10:00 - right on the upper parallel where longs who bought at 6am have closed out for 450 points - day's work done. Now has to climb above the upper paralle and hold there on retest once broken to turn back to bullish again from here. Unlikely in very nearterm but it's trying hard here. We have had 4 waves down which is standard stuff for Bitcoin so this decline could be over but it still has some work to do to bust above the mass of resistance gathered above it from here...the old neck-line - can only get long from here once the upper parallel is busted and held - all it's done so far is a nice little counter rally to exactly where it should stop. We got some far Eastern interest at 01.00 and some European interest at 06:00 and now we'll need US interest to help it move higher from here - in meantime it needs to unwind a little. So far it's holding at 10100 but when this gives way it should fall back to support at 9965-9855 07:07est Last low on Bitstamp at 9935 with a nice spike under it on 15 minute - and now we have a break of the upper parallel and test of the first line of resistance at 10254 as early birds in US catch the worm - likely to push on up to the neckline by 14.45gmt, maybe in the 15 minute candle on US official open - if you got long on the last dip as above stay with it and raise stop to just under the low at 9930 for small loss if wrong from here. Look to close out in the 10300-10350 range where fixed and dynamic resistance begin to merge. But we 've broken the down-trend and need to be ready to get long again when and if that uppermost dynamic/old neck-line is broken above and held (now at 10345) - can follow the break with stops below 10300 when it happens. Bulls have 4 waves down which signals potential completion - but the bears have that Head and Shoulders on their side still - bulls gotta break that neck-line next big test - then we are off to the races with a relief rally - but not until...day traders are using the smallest dynamic here on 3 minute by look of it... 09:09est After moving sideways above the parallel for a while Bitcoin has come back to life as expected with US opening. Now testing the target at 10300-10350 with a spike high at 10372 on bitfinex....so closed out and looking to buy again lower , maybe only as low as 10300 ... 09:14 Had to get that uploaded quickly - so this is looking good again - has just poked above the dynamic/old neck-line on Bitstamp which is the big test now...buying across 3 continents - just neeed to beware a suck in here though...but if it can hold up here above 10350 and the dynamic this is going to rally very well now...
CME:BTC1!Long
by sumastardon
Bitcoin: BTCUST Massive Bull Breakout maintained - stay long Bitcoin Coinbase Chart Massive Bull Break Maintained Overnight. Stay long to 12090 The break stayed good overnight and the far East bought into it too...not massively but still a good sign of returning confidence world-wide as all the bad news begins to dry up. This break out is so important and so far technically perfect on Coinbase chart - and shows how, once price beat the last dynamic above it Bitcoin surged upwards, shackles undone. The next part of the Bitcoin puzzle is to look more closely at the reverse head and shoulders to see how likely it is to be trustworthy from here. First off the last one failed - and actually went on to form the right hand shoulder of this larger RHS - whilst Bitcoin was still in the middle of a downtrend, which with today's price action is now effectively over - the only disconcerting thing about this RHS is that it's a little too prefect technically. Can it be too good to be true? Too obvious? Why? On The Coinbase chart this reverse head and shoulders has a minimum upside of 3216 points added to the break out level/neck-line at 8874 - creating a minimum upside target at 12090 on Coinbase. Stay with it
COINBASE:BTCUSDLong
by sumastardon
2
Bitcoin BTCUSD Rocking it but up against important resistance Bitcoin Bitstamp Bitstamp Rocking It but coming to important resistance here too - can stay long to 8545 if day trading - and if intending to run it would still use the dynamic under price as exit as it can still have one more collapse...don't stay too full-on bullish unless 8545 can be busted above now....needs to consolidate some really but it's Bitcoin. It does what it wants. Day traders will close out and get long lower or if not and it powers through 8545 they have to buy back again once it does...
BITSTAMP:BTCUSDLong
by sumastardon
3
Bitcoin: BTCUSD First Signs of a Bottom in SightBitcoin BTCUSD Update Next Buy and Sell Points We have a low here on Bitstamp at 5920, on Bitfinex at exactly 6000 and on Coinbase at 5873 - so far. Earlier in London Bitcoin has been driven up through the upper parallel that has been controlling this sell-wave from yesterday. It's the first early sign that this is getting close to the bottom now. It's finally trying to put up a fight here at these lower levels...so on downside will not be looking for another short unless 5900 is broken on Bitstamp and 6000 is broken on Bitfinex - and even then will only be for 300 points or so to 5636 and if so will be looking to reverse long again at this point if struck with stops 100 below On the upside it's nothing more than a speccy buy at 6300 with a stop below 6200 - it's more risky than buying the breakout as we don't know for sure that 6200 will hold out yet. Otherwise we stand by for a potential break above the upper parallel, looking for a successful restest from above once broken...it then has to break above 6610 and hold there to give us confirmation that the rally is good to go - look to enter long positions if we see this price action develop. Otherwise will look to get long again from lower levels later.
BITSTAMP:BTCUSD
by sumastardon
3
DXY Dollar Index: Approaching reversal pointDXY Dollar Index Long Term We've been aggressively bearish of the Dollar since that first break below 98.5 back in early May last year. Down another 11% since then it's coming time finally to think about reversing back long again soon. DXY has already hit and bounced from the support line at 88.44. Below here lies a long term dynamic support line which has effectively stalled all Dollar declines since 2011. It lies at 87.70 and even if DXY suffers one last decline from here it should halt at 88.44 and at absolute worst at 87.70 during the course of this week - we should see the final low put in this weekcoming , and likely by the following week at latest if we don't hit the bottom this week. Look to close out most shorts across the dollar pairs into this final selling climax if we see it materialise over the next few days. Swing traders should now, finally, be looking to follow suit too. DXY Shorter Term Last week DXY made a new low at 88.44 before bouncing 1% to 89.51 resistance line with a high at 89.53...The 88.44 level is one of two likely levels to look for a reversal in trend, the other being the longer term dynamic support line, at 87.70 now. If the first level is to be the reversal point DXY will continue rallying from here and not break below the tiny rising dynamic directly under price right now...then comes the bigger test: it has to break above the upper parallel and break 89.53 and then hold on the retest - that would flip DXY back to near term positive and send it back to 92.62 and the falling dynamic resistance line shown on the chart above, where it's next major challenge will most likely lie. Follow that break if we see it materialise at any point this week Downside If in the alternative DXY loses the little dynamic holding it up and then falls below 88.88 it will fall back to 88.44 again and if it cannot base there and make a double bottom it will fall away to the second key level at 87.70 - at which point it should start to find some support. If so start closing out dollar shorts and look to build longs from here. Otherwise, the safer/less risky option for swing traders is to forget about bottom fishing wait to see at what point DXY finally exits the upper parallel of this impulse wave - which has, so far, controlled all upside potential for DXY throughout this current down-wave - and follow that break when it eventually comes, looking for 92.60 initially.
TVC:DXYLong
by sumastardon