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Retrace

WHY THIS BITCOIN RETRACE COULD LAST!!!Hello everybody, first of let me just thank you for the massive support I didn't expect from my first post. This community has surely done it again and I already feel so welcomed from all the positivity here. I will continue keeping my ideas simple and charts so clean so that even the novice would easily comprehend. So please keep support my ideas by LIKING as it motivates me to post more setups in the future. Thanks. In everyday charting we use many indicators to equip us with the confidence to jump in and avoid getting rekt. Just the simplest of them can lead us to take the most unreal (great) trades we now wish we did. Today we're going to discuss about Price Action (candle closing), Volume (I mean even grandma uses this!) and the good old 21 MA (Moving Average). As powerful as they are, most times you just don't need Moving Averages crossing each other to determine new trends. Or else we could have all been so successful following the recent multiple golden and death crosses. Many traders believe rather vaguely that when we get the first daily close above the 21 day MA that signals the beginning of an upward movement. Conversely, daily closes below this MA indicate the awakening of the bears. While this concurs to a degree with this analysis, that belief can be squashed by fake outs which are a common occurrence in BTC movements. This is where Price Action comes in. Patience is key here as when the candles start closing on the opposite side of the 21 MA we have to wait for INITIAL TWO consecutive closes to become certain of the trend change. But when to actually enter the trade? We enter at the price of the close of the second candle close or wait for a 2 to 3% retrace if one would want to be more careful. Consequently, when we later get the two consecutive closes on the opposite side of the indicator that's when one would GET OUT! That brings us to the realization that the close of a long is the entry to a short and vice versa. Although this strategy alone should put you in NICE greens but alas! You must be thinking there must be a way to stretch your realized gains. Turns out there is! And that's when Volume comes in. A very high daily volume close has long been considered as a trend reversal indicator. Therefore, once in a trade and we get a daily volume close at 3X or more the previous week's (7 days) average volume, we don't jump to closing the trade yet. Patience is still key, we wait for the NEXT TWO daily candles to close and that's the price we close trade at. Knowledge of this strategy ought to keep you on the right side of the massive and painful swings BTC players (traders and hodlers) have to face. So where does this leave us at now? We already had the two initial candles below the 21 MA close on May the 22nd at $9222. This tells us that it would be very hard to close dailies above the range $9200 - 9450 in the coming days. Ideally (BTC? Ideal??), this range acts as an entry to a short position I would hold on for a while. Intermediate term Bearish. This is NOT financial advice. Please do your own research and understand trading derivatives has high risk.
by triquista
10
Bitcoin Selling Off! And Other Irrelevant Bearish Banter.Bitcoin retraces out of the 9564 to 10,168 resistance zone, but no reason to over react. The resistance zone that has been on my charts for months is a location that favors such a move, and is why we have been reducing our risk by taking partial profits at predetermined targets (8K and 9750). The mistake to avoid here is to get confused by all the bearish hype that will follow (especially the ones who are focused on smaller time frames). The structure of the broader trend is still bullish and in this video I will explain why. When there is a retrace within a bullish trend, what should you be doing? Looking for buying opportunities. Although Bitcoin has yet to produce a new buy signal, we view this as a chance to add back to our long from 5750 (since we now only have 1/3 of the position left) Where are the inflection points? 8500 which was a previous resistance and 7695 which is the key support for the current broader bullish structure. AS LONG AS 7695 is not compromised, Bitcoin is likely to reverse higher, and at least attempt to take out the 10,200 area high. This may take a week or so to play out, but BASED on the price structure and price action, this is the higher probability scenario. What needs to change in order for our outlook to go back to neutral from bullish? IF price takes out 7695 and closes lower. That is the evidence required by our long only swing trade strategy to adjust our expectations. Like I remind our followers regularly, you can't go into this with any kind of opinion, especially for short term timing. The market tells us what to think, and we simply listen to it, not "experts", news, or other obsolete information. What can the next buying opportunity look like? A failed low off of the 8K area would be a very compelling scenario for us to add to our long. Overall, this move does not qualify for a trend change on the TIME FRAME we evaluate. Momentum may be bearish, but that is not the same as the trend. Keeping these variables as separate and distinct pieces of information will help you to better anticipate coming opportunities.
BITSTAMP:BTCUSD
by MarcPMarkets
33
Bitcoin: New Buy Signal And One Simple Rule.Bitcoin: Noise in the markets comes in many forms: price noise, inflexible opinions, hype, etc. It is one thing to consume it for intellectual entertainment, but taking action or making decisions on such information is NOT helpful at all for your trading account. There are many moving parts when it comes to evaluating a market, no matter what mix of fundamental and technical information you choose. The key is to have a set of rules to filter out the adverse effects and bias of human nature. In this video I explain why we believe price structure FAVORS longs, and where to anticipate bullish order flow IF selling activity increases from here. I will also touch on one simple rule that we employ in our long only swing trade strategy. Key Point: Low 7K resistance area has asserted itself, BUT price is more likely to push higher in its next bullish retrace. Why? The 6425 level was a key resistance that once taken out, offered some kind of PROOF that the balance of order flow leans more toward the bullish side. The recent indecisive price action is consistent with this idea so far. Sell offs are not "stop and go", fear is a powerful motivator and buyers do not appear to be getting absorbed around the current price level. This will NOT be obvious on any oscillator, or any other random art on a chart. It is a concept that is based on price structure, proportions and forecasting methods that project forward, NOT focus on looking back. Does this mean price can't pull back to 6K? No, but until Bitcoin provides evidence for that scenario to be likely, it is an event that we assign a low probability. We can do all the analysis in the world and it will not change the fact that markets are highly random. That means things look one way one minute, and then they change. Rules are what allow us to qualify opportunities and filter NOISE. One of our simplest rules: using predetermined prices to enter or exit a trade. This helps to minimize the effects of emotional decision making and filters out many would be fake outs that often lead to a stop out. Having preserved that capital allows us to continue to participate in the next quality setup. Evaluating and managing risk should not be confused with evaluating a market.
BITSTAMP:BTCUSDLong
by MarcPMarkets
9
BITCOIN BREAKOUT - Ascending triangle loversHey there, Please support this idea with your likes and follow me on Tradingview. As you can see we are most likeley in an ascending triangle in Bitcoin, which sends of strong bullish signals. We had a breakout recently above 7k, but I already expected a rejections, since this breakout was in my opinion premature. I expected a third touch of resistance, a retrace down to support, befor then finally significantly breaking 7k. Also btw a perfect touch of the fib retracement from 3k drawn to 14k. You would know all of that if you were watching my youtube videos. If you arent't an accumulator down here, I would suggest thinking about your trading strategies and most likely moving away from trading, since you obviously are a herd thinker and do what others tell you. Of course this is not financial advice, but this is the time to buy Bitcoin heavily and buy more if it drops lower. Although I think that this is very unlikely. Cheers, Konrad
BITMEX:BTCUSD.PLong
by EnlightenedTrading
WAVESBTC | Consolidated and ready to break Fib 0.618 resistanceWAVESBTC price was pumped on 11th of March, however further Bitcoin dump brought the price back. The previous price increase was caused by fundamental and thus increasing demand on WAVES while dump was caused mostly by panic sell and manipulative BTC market price actions. Technicals reveal that WAVES price action is accumulated and now entered new growth phase It is a Black Friday for WAVES and we recommend to accumulate the coin before it breaks through Fib 0.618 resistance because further the market players will receive a great signal to buy until it reaches 50% retracement level Entry zone, targets and stop loss are in the automatic premium signal
WLong
by Skyrexio