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Potentialreversalzone

BTC Down Trend Channel and Potential Support Area with ReversalGoing to keep this idea simple and short. 1) BTC has been stuck in this immediate downtrend channel since the 24th of March, as indicated by the white trend lines. 2) There have been identifiable Elliot waves that seem to support the idea of BTC trading in this range. 3) The bottom long green rising trend line has been previous support for BTC on more than once occasion. So what I predict: BTC will follow along the channel in the predicted wave pattern, move to 7900, back down to test the rising green support at 7700. At which, I believe the bulls will have enough push to move the price outside this downtrend channel and to at least 7900. Beyond that, I'm not sure what could happen. Perhaps 8k will seem monumental. If the bullish momentum follows through, that may very well end the down trend and thus begin a new trend. Hopefully that trend is upward, and not another downtrend channel. *I Just have to mention this disclaimer, everything you have read here is not trading advice or a suggestion to purchase anything and was created purely for my entertainment. Any trade you embark on is 100% your responsibility, in other words, you reap all the risk and at the same time all the reward. Do your own research first and only trade what you can afford to lose! Good Luck everyone and may BTC reach Mars before Elon Musk, -Gendark2
by gendark2
2
TNB - News? Time New Bank BITFINEX:TNBUSD is going up and looking to cross on RSI and MACD, also if it can break the resistance level at around 0.033, we could expect more up. This project by itself has potential, it it just a bit weird for it to go up right now since BTC is consolidating at around 9500-8700 and is more likely to go down. The reason for this potential up is because of launching of the first time trading platform - mitfund.io Also, here you can find the news - twitter.com Let's be careful and see how this trade will develop.
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by S-Axiomatic
NEOUSD analysis, back to the top or incoming crash?NEO is close to strong resistance. If a candle closes above resistance, it will confirm a buy signal towards the top again at 100% of the fibonacci pattern. If it bounces off resistance, it will likely visit 125$. This may make it bounce to 158$ again, or break through to 106$. The ideal entry is 106$, as a bounce from that price is very likely with a high reward potential. However, one must consider that the entry point may not be reached again, since it may already bounce off 125$. Therefore, make a decision beforehand to prevent being influenced by FUD. If option 2 happens, I suggest buying with 50% of your NEO-investment-funds. If it moves up, you can use the 50% remainder to invest in other coins: don't let the FOMO get to you. If it moves down, you can cost-average it by buying with the remaining 50% at the ideal entry point. Remember to set your stoplosses when you enter: markets can sometimes be irrational. If I made you money, please consider buying me a beer to make my day: LTC: LfbKuDHZaDTRUV9pXJuWCUcG14XLrGtBcs ADA: DdzFFzCqrhsfoyxqADKYK7mMAMpoMUqjuNeN39aJZx6v2ZHnBxuC79p8QJWJ713mAmRHxF9hS87YKMkD4JLF1rdxLU7ugzRtViBETfWa Feel free to ask me questions or to ask me to perform my analysis on a coin of your choice. Happy trading!
by Woolhead
BTCUSD Update: Very Important LevelBITFINEX:BTCUSD hit our first top projection at 6200 level, but we still see room for a new high, so we have to be very careful arround those levels! We believe that Bitcoin is in minor three wave correction of red wave (IV) with strong support arround 5000-5200 level and 38,2% Fibo. retracement. Keep in mind that 4th waves can be very complex, for example: flat corrections, triangle patterns or even more complex corrections. If Bitcoin goes straight to new highs, be aware of 5th wave, our second top projection arround 6400. But if Bitcoin from any reason declines and breaks lower our strong support at 5000, then we could face even bigger and much sharper decline back to arround 3000, where we see next potential support! Have a nice weekend!
BITFINEX:BTCUSD
by ew-forecast