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Possible Future Scenario for BitcoinWe’re approaching a weekly resistance (ichimoku red cloud) Bitcoin could drop significantly or move sideways for the next 6 month. I see us going back to around $5000 test it and make it an ultimate support and move up from there. I think we need a good drop for a good and solid bounce back. I have also notcied what it looked like an Inverted Head and Shoulders in the making on the monthly BTC chart If you agree with my analysis/prediction please like it. If you disagree please share your thoughts in the comment section. Thanks and good luck in your trading. My previous Scenarios: May 8th May 7th March 29th
BITFINEX:BTCUSDShort
by ByteBen
2
BTC Weekly consolidation on its way? Trading Style: Swing trading 4hr/Daily/Weekly Observations: Weekly Chart: Doji at the top of the trend confirmed, by price trading below $3915 increasing the odds of a period of sideways trading or a market pullback in the following weeks. BTC last weekly higher low $3337.87, BTC has grind its way all the way to the exponentials without establishing a new weekly higher low, there's a lot of room to work with.(keep an eye on 200SMA to act a a possible support for a new higher low) Declining bull volume for the past 4 weeks indicating bulls are tired. Seems like the odds are favoring the bears as of now, a weekly pull back to set a new higher low its clearly on the way. There's a clear shift in momentum in the daily and 4hr time frames that strengthen this point of view in my opinion. Daily: Uptrend has been lost currently setting lower highs and lower lows, confirming weekly pullback has begun. Possible H&S formation taking place neckline around $3771 Very weak bounces after pullbacks, bulls not buying the dips aggressively, opening the door for bear flags in the Daily & 4hr time frames, keeping in mind that most likely the EMA12 & 26 will act as resistance if playing this type of bounces, I'll be taking profit as soon as price reaches them. (not currently interested in playing 4hr bear flags) Possible Play: The only trade I am currently interested is the possible H&S pattern on the daily chart, neckline around the $3770 area which also in previous scenarios has played as a clear support/resistance in the 4hr time frame. I'll be looking to scale in my position during 1hr or 4hr oversold RSI levels (around the green box) with a tight stop loss below the neckline, looking to play a quick 2 or 3 day swing. Please keep in mind that H&S like any other pattern don't always break to the downside but rather ''most likely" break to the downside, but unless volume and the charts tell me otherwise I'll keep this as my only clear play at the moment. Disclosure: I am in no way shape of form qualified to give any financial advise, this are simply my ideas and my personal observations. I believe that the best way to learn is to put your thoughts out there and hopefully learn from those that have been doing this for a long time, having said that please feel free and call me out in any mistakes, or things that I am overlooking.. Constructive criticism is very much welcomed, no better way than learning as a community. Happy trading everyone!!
COINBASE:BTCUSD
by jemk88
BNB ready for a healthy pullback?Current Style of Trading: 4hr/Daily/Weekly Swings. Sentiment: Longterm: Bullish Short-term: Bearish (I do believe BNB will not fall to a yearly lower low given it currently sits well above it at over 200%, needless to say this can change and so will my sentiment if markets show me otherwise. Observations: Last weekly higher low at $5.94 RSI levels Oversold (weekly). Declining bull volume for the past 3 weeks. Topped out at previous strong resistance 17.50 level. BNB has been running strong for the past 13 to 14 weeks establishing a strong weekly uptrend, but the odds seem to favor a healthy pullback in the upcoming weeks to establish a new weekly higher low compare to $5.94 Possible pull back target: EMA 12 & or 26: It would not surprise me to see BNB at the very least retest the weekly EMA's allowing the RSI levels to cool off opening the doors to a break above 17.50 Also is worth noting the 50SMA a the time or writing is literally right above the EMA 26 making it even a stronger support in my opinion. I favor a pull back or at least a period of sideways trading taking in consideration the insane move BNB has had in the past 2 months or so, per technical analysis we know that a healthy pullback is needed to see continuation, having said that BNB can easily skyrocket in the event of extremely bullish news so please take this into consideration. (I am simply stating the most likely scenario in my opinion) My thoughts: keep in mind I'm not expecting BNB to drop a whopping 40% to meet the EMAs where they're currently located, to get a better picture we will need to pay attention at the Daily, 4hr and 1hr charts to find clues where the possible bottom of the pull back might be at. I will be patiently waiting for this pull back and oversold levels to make an entry, depending on the volume behind the bounce I will sit on my trade for several days or weeks, walking my stop loss along the way. Disclosure: Please keep in mind that this are simply my ideas on the market, I am in no way shape or form qualified to give anyone any financial advise. All I'm looking for is to become a better trader with time and the only way too do this is to post what I am looking at and take criticism from those of you that been doing this for a very long time, having said that please feel free to call me out on BINANCE:BNBUSDT BINANCE:BNBUSDT any mistakes, or incorrect analysis the best way to learn is from each other as a community. Happy trading to all of you!!
by jemk88
Daily EMA Support v Weekly EMA Resistance As you can see on the daily BTC chart at the moment, daily exponential support has remained significantly strong. Although, when we zoom out to the weekly chart, we notice that weekly exponential resistance has remained significantly strong also. With a weekly equilibrium pattern also in play, trading conditions are not looking favourable until one of these exponential forces break. Although no opportune trading opportunities are present with BTC right now from my perspective, the longer this tight range continues for, the more reward there will be upon a break to the upside or downside. These scenarios also allow us to clearly establish significant support and resistance areas to create plans accordingly. Below are the two plans I have at the moment in anticipation for either a break bearish or bullish: 1 - Bullish BTC breaks through weekly exponential resistance zone with significant daily volume and lack of selling pressure (3950-4000USD) In this scenario, I would start entering long positions in anticipation for a test of 4188USD. 2 - Bearish BTC loses daily exponential support (3790-3850USD zone) In this scenario, I would start entering short positions in anticipation for a test of 3654USD. Many traders like to look at patterns from years ago to speculate on future price action, I myself prefer to just patiently wait for favourable trading scenarios where I can ideally trade the macro trend and mitigate risk as much as possible through effective risk management strategies. Trading right now for me is too risky in the cryptocurrency market until a direction is more clear. I am the unemotional, devotional trader.
COINBASE:BTCUSD
by CryptOReilly
BTC Bear market will end between May and Oct 2019There is a clear pattern on log scale that the bear market will end in late May at a price of $2800. The graph shows that the dotted line continues to fall until the point it reaches the long term trendline going upwards. On the other hand, the same analysis has been done on a linear scale and shows that the Bear market will end in October 2019 at a price of $3000. My conclusion is that the bear market will end between May and October at a bottom price of $2800-$3000. Compared with the bear market in 2015 there are many similarities. An import similarity is that the bear market started 9 months before the halvening event in 2016. At current time this would be translated to August 2019. This would be a price of bitcoin just below $3000. However, some analysts such as Tone Vays and Tyler Jenkins predicted the bitcon price would fall to a $1000-$1500 range. Tyler for example used a different method to analyse and he used hyperwave. A good strategy would be to apply DCA in combination of price levels. If you have a bag of 10k available to invest in bitcoin this year I would invest it as follow, starting from 1st of April: Every first of the month - invest $500 (apr-dec = $4500) In combination with: At a price level of $3000 - invest $1500 At a price level of $2500 - invest $1000 At a price level of $2000 - invest $1000 At a price level of $1500 - invest $1000 At a price level of $1000 - invest $1000 And for the rest, just HODL! ;)
BITFINEX:BTCUSD
by laurie123