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XBTUSD 4H chart (7/23/2019)Good morning, traders. Yesterday I warned about initiating a position at the EQ of the local TR as it was unclear whether price was headed up or down. Price ended up heading down as we can see. I mentioned that, if price dropped, I would be looking for it to bounce out of the blue demand zone or, if strong volume came in with the supply, then I would be watching for a bounce at the S1 pivot. So far, price is in the blue demand zone, so we should be watching to see if it bounces from this area since volume, so far, hasn't been significant at all. The previous 4H candle again shows you why dojis are merely pauses and not necessarily reversals. Dojis during a trend require the next candle to confirm continuation or reversal. Traders should be watching this candle for a large lower wick which would be bullish and would also print tweezer bottoms suggesting a reversal incoming. Currently, price has almost touched the 61.8% retracement of the most recent bounce. A touch of the S1 pivot would have price just beyond the 78.6% retracement. I have outlined a possible descending red wedge, however until price actually bounces off the wedge support and targets wedge resistance, it could still fall below it. RSI has almost reached oversold again but Stoch RSI is oversold and nearing bottoming out. The 4H volume has not been significant though it did rise through yesterday morning. Today we see the volume spikes near that same level but the candle spreads are much smaller which tells us demand is showing up at these lower levels. The question is, will there be enough to reverse price direction from this point? The 1H RSI is printing bullish divergence at this time but we need to see price continuing higher to confirm it. The RSI resistance has been noted on the different TFs and should be watched. 1H volume has increased noticeably over the previous period but the candle spread remains small, again telling us that demand is attempting to overcome supply. Stoch RSI is nearing a possible bearish cross. The M30 RSI is printed bullish divergence and is currently attempting to confirm it as it nears a break of its resistance. While Stoch RSI is much higher on this shorter TF, it is curling up for a possible bullish cross. My targets remain the green and orange boxes for now. With a clear ABC completion on the daily, we must now follow price action to see if that is the end of the correction or if we have a combo which will ultimately see price heading toward the mid-$8000s. However, we should generally expect price to target that ~$12000 level before doing so. The 3D chart shows multiple hidden bullish divergence following each other and RSI is retesting resistance as support. Stoch RSI on this large TF bounced in overbought and recently crossed bullishly. Price remains supported by the pivot. I will be streaming on YouTube and Twitch at 10 a.m. CST/3 p.m. UTC and would love for you to join me if you have the chance. You can search TexasWestCapital on both platforms. _____________________________________________________________ Be sure to hit the "thumbs up!" Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life. You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
BITMEX:BTCUSD.P
by Chris_Inks
1
Symmetrical Wedge Pattern in BTC forming Predicting BTC will continue to move in wedge, flag, and pennant patterns by forming this giant symmetrical wedge. breakout of wedge either direction with volume and it should fly to retest the .618 retracement of all time high to recent low around 13400. Funny the timing of all this lines up perfectly with Iran, Facebook, the Fed, the uncertainty of money. Bullish bias but the lack of volume is pretty insane compared to what is happening in the crypto bubble. Don't worry, Facebook will be introducing it to billions in January, months before the halving. Earlier at bottom of the wedge volume came in out of nowhere to prop it up. Retesting here very soon. new to annotating and goofed up thinking it saved snapshot. oh well here is my future doodle! makes alot of sense though. retest .618 and fail hard down to 9800 then wedge and climb to 16k then honor mirror of symmetrical wedge which takes it to key levels. was trying to stretch it out till it is testing all time high in december. 12500, 13400 (.618), 9800 fake out while setting up the timing for an end of the year rally into FB Libra 2020. By early 2020 100k price target.
KRAKEN:BTCUSDLong
by Gamma-Rat
1
BTC bellow 10000?! I wasn’t satisfied with the 38% correction and here is a bearish scenario for bitcoin to complete a double three correction. The four last waves could be 1234 of a 5-wave move as sub-wave 1 of wave 3. A higher-high would signal a bullish scenario and lower-low signals the bearish scenario, simple as that. For the bearish scenario all three targets 0.38, 0.5, and 0.61 are equally likely right now and there is no significant accumulation of the fib levels around any of them. Fundamentally, BTC needs a bigger correction and reaching ATH this early is premature I guess. Breaking ATH in the last wave (2014-2018) resulted in a huge bullish move which is healthier if it happens in wave 3 or 5. Let me know what you think?!
by UnknownUnicorn1586748
2/3 bullbreakout targets hit; Is btc about to go hyperparabolic?We have finally hit both the purple descending channel's and the downward slant pink inverse head and shoulders' breakout targets and are currently consolidating just below the horizontal resistance at 13071. Our bigger green inverted h&s pattern's breakout target is still to come at 14400 but there is a chance we may find resistance on the way there at the potential 1day chart cup&handle's rimline around 13850 or so...however if once we reach the 14400 breakout target we can maintain price action there for a few consecutive 1day candle closes we should then trigger the cup and handle pattern in which case our next big pitstop would probably be at the ATH to form another handle while on our way to 25K correct a month or 3 then break that handle continuing our way to the 1st cup and handles target of 25-26k while simultaneous created a new bigger cup and handle breakout target around $36k. Sure sounds hyperparabolic to me let's see if it plays out like that. . . .Psychologically, right now everyone knows the 1st big correction of the new bull market is now officially over. I anticipate the wave of volume we will soon get as people who've been waiting on the sidelines this whole time finally reverse capitulate and flood the market will likely be at magnitudes unlike anything this market has ever seen before.
BITSTAMP:BTCUSDLong
by DrDovetail
LTC/BTC - Bear TrapHi! Since the last idea posted on Litecoin vs Bitcoin I was stopped at 0.010950. They are past waters. Analyzing the further movements,we can see that Litecoin might be facing a bear trap (purple square) which is a good sign of reversal, indicators also show us good risk/reward. Stochastic is pointing up, volume is growing. Bitcoin is consolidating, so it means we may see few altcoins performing meanwhile, Litecoin has good fundamentals to keep it's way up. Resume: - Bear Trap; - Stochastic pointing up; - Volume is growing; - Good Risk/Reward; - Bitcoin consolidating. Conclusion: Long Strategy: - I'll wait for a confirmation. I wish Litecoin test 99 MA (0,013813) and then test it's symmetrical triangle support (0,012107). - I'll put a buy order at 0,012960 and put a stop-loss at 0,010960. - I'll move my stop always the market is in my favour. **** Manage your stop according to your risk management. This is not financial advice.
Long
by LuanCeli
Looking at Fib levels for BTC for different waves in a price movement, if extensions and retracements are drawn, prices that they are around many of these fib levels have significance. Also, a proposed top for a 5-wave move generally has its fib ratios matching previous significant levels. for the top of the current wave, I see two potential targets where previous fib levels are pointing at. 11700 and 14000. if this wave tops at 14000 the resulting wave satisfies many of the previous significant levels. what do you think of this approach?!!!
BITSTAMP:BTCUSD
by UnknownUnicorn1586748
H1 - Short with valid and ideal APF with a good psych number... A potential bearish and authentic APF Bat 88.6% XA ret within 161.8% - 261.8% CB ext for a short/sell trade opportunity with a good psychological number at price 0.66600 even handle. Aggressive entry with pending sell limit order at the completion and stops just above setup's X point giving us a good 1:2 RRR to TP 1 and 1:3 RRR to TP 2. Conservative upon confirmation to short/sell once price completed the setup and SL and TP as seen in the chart. Could there be one good short/sell opportunity? We will see. Trade with care and good luck in the markets
Short
by TheForexSamurai
Bitcoin: Still BullishCoinSavvy here with a Bitcoin Analysis. Bitcoin closed the daily chart with a hanging man doji and right below $9,000 however I think that’s just due to the exact time that it broke bullish and the lower time frame oscillators being at extreme levels. If you take a look at the weekly close it looks very bullish with a higher low set and now a higher high. Higher time frame oscillators are bullish and there is bullish divergence on the lower time frames with the RSI. From my previous analysis I would still say $9,500 to $10,000 is a target. Shorts have been stacking up since $8,000 and have not covered and only 1,000 of them are hedged (Bitfinex)... I would say this is perfect fuel for a final short squeeze that could get us a lot higher than $10,000. 12 hour closes below $8800 would be a sell and I would pick back up for the CME gap fill around $8,500. Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
BITSTAMP:BTCUSDLong
by Coin_Savvvy
Bitcoin: Higher Time Frame Breakout Series - MonthlyCoinSavvy here with a breakout update, we are going to focus on different time frames to give us a heads up of what is to come after this breakout is finished rallying, so far though very exciting and if you look back at my post from the 17th here you can see that the 3 day closed above the 200 sma and how I wrote if that happens then Bitcoin is going to around $9,500. To gain maximum perspective, we should look at low, medium, high and macro time frames. This is so we can put the puzzle together and see the big picture to make educated game plans to execute depending on whatever scenario plays out. I am creating multiple chart analysis for the high and macro time frames starting with the Daily then the 2 Day, 3 Day, Weekly and Monthly . Analysis : The monthly chart is the only thing that needs something to really make it bullish is a higher high and a higher low. If we close the monthly above $7,725 then that would technically be a higher high. If we can get a higher low compared to the local low at $3,122 then that would be the higher low then it would be overall bullish and would technically be an uptrend on the monthly time frame. Stochastics %K (blue) had a bullish cross above the %D (purple) and out of the bearish critical area, as long as Bitcoin doesn’t go down to sub $5,500 by the end of the month then it should close above and that would be a confirmed cross to the upside which hasn’t happened since July 2015. RSI just crossed above the ema and headed towards the bullish control zone, same deal with the stochs, as long as Bitcoin doesn’t crash then this should be a confirmed cross, this hasn’t happened since November 2015. Now we could have a confluence of both the RSI crossing it’s ema and stochs having a bullish cross, which didn’t happen back in the last cycle, it was delayed. Regarding moving averages, ever since Bitcoin closed above the 21 ema around $5,300 it’s been very bullish and I wrote about this in one of my previous articles here Overall this chart needs a higher high and a higher low to make it fully bullish technically. For the bearish case see Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
BITSTAMP:BTCUSD
by Coin_Savvvy
Bitcoin: Higher Time Frame Breakout Series - WeeklyCoinSavvy here with a breakout update, we are going to focus on different time frames to give us a heads up of what is to come after this breakout is finished rallying, so far though very exciting and if you look back at my post from the 17th here you can see that the 3 day closed above the 200 sma and how I wrote if that happens then Bitcoin is going to around $9,500. To gain maximum perspective, we should look at low, medium, high and macro time frames. This is so we can put the puzzle together and see the big picture to make educated game plans to execute depending on whatever scenario plays out. I am creating multiple chart analysis for the high and macro time frames starting with the Daily then the 2 Day, 3 Day, Weekly and Monthly. Analysis : This chart is very bullish, higher bull volume on higher prices with bull flags while all the moving averages point up instead of sideways or down. We will officially have all smaller ema’s trading above larger ones end of next trading week (Sunday June 2nd @ 8pm EST) as long as the 21 ema closes above the 55 and 89 ema’s. Stochastics are looking good and still pointed in the upward direction and the blue is above the purple and in the critical zone, this is healthy in a longer-term trend but a pullback looks to be coming somewhat soon, although I see us continuing this breakout at least to $9,500. RSI looking very strong but getting overextended, if we look back in time this looks like it’s one of the longest times it’s ever been away from the ema, so a pullback is coming shortly in terms of a weekly chart, that doesn’t mean we can’t keep rallying though, especially with all the higher time frames being so bullish. Weekly chart is overall bullish and I see us make that move to $9,500 however I see a severe retrace all the way down to around low $6,000 region maybe even $5,400 and it still be overall bullish, I will discuss this in a different series at a later time although if you look back at my older charts you can see that I wrote about these longer term bearish targets. For the bearish case in this series see Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
BITSTAMP:BTCUSDLong
by Coin_Savvvy
Bitcoin: Higher Time Frame Breakout Series - 3 DayCoinSavvy here with a breakout update, we are going to focus on different time frames to give us a heads up of what is to come after this breakout is finished rallying, so far though very exciting and if you look back at my post from the 17th here you can see that the 3 day closed above the 200 sma and how I wrote if that happens then Bitcoin is going to around $9,500. To gain maximum perspective, we should look at low, medium, high and macro time frames. This is so we can put the puzzle together and see the big picture to make educated game plans to execute depending on whatever scenario plays out. I am creating multiple chart analysis for the high and macro time frames starting with the Daily then the 2 Day, 3 Day , Weekly and Monthly. Analysis : 3 day looking bullish ever since closing for the second time above the 3 day, this was my simplistic approach from my previous analysis basically saying if it closes above that line then price will most likely continue higher and there’s not much stopping this rally from $9,500 - $10,000, if you want to know more click the chart that I pasted above this analysis. This breakout candlestick is going to close tonight at 8pm EST (in one hour) and it's looking good, so far as long as nothing crazy happens within the next hour, closing above $8,800. The 55 and 89 are trying to cross above the 200 ema but hasn’t happened yet, they are pointed up and trying get above them, once they do that will be very bullish for the longer term trend. Stochastics %K (blue) had a bearish cross below the %D (purple) a few ticks back however if we look back in time during trending bull moves these can get overextended (May 2017 stochs went from 97 down to 80 while price went from $1,600 to $3,000 which is a 90% gain, this just proves that these stochs can be in the critical zone and be pointed down and have the blue crossed below the purple and price just continues to shoot up) So yes technically this is a bearish signal but in this case I would say the bulls are likely to continue through. The RSI is looking very strong however we are likely to create some bearish divergence just like I discussed on the 2 day. Divergence targets for me are the 21 ema and the 21 ema on the 3 day is right around $6,300 however by the time things play out I would suspect this 21 ema to land us around $6,500 to $6,700 and that’s if this goes up to $10,000 then back down. This is all only if we set a local high and the RSI is at a lower low than the previous local high within a roughly 14 period range roughly to create bearish divergence. Overall 3 day is bullish but looking like it's weakening, I still see a $9,500 Bitcoin before a $6,000 bitcoin. For the bearish case see Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
BITSTAMP:BTCUSDLong
by Coin_Savvvy
Bitcoin: Higher Time Frame Breakout Series - 2 DayCoinSavvy here with a breakout update, we are going to focus on different time frames to give us a heads up of what is to come after this breakout is finished rallying, so far though very exciting and if you look back at my post from the 17th here you can see that the 3 day closed above the 200 sma and how I wrote if that happens then Bitcoin is going to around $9,500. To gain maximum perspective, we should look at low, medium, high and macro time frames. This is so we can put the puzzle together and see the big picture to make educated game plans to execute depending on whatever scenario plays out. I am creating multiple chart analysis for the high and macro time frames starting with the Daily then the 2 Day , 3 Day, Weekly and Monthly. Analysis : Looking at the 2 day, another very strong close above $8,700. There’s been two potential bullish things happen regarding moving averages. The 55 ema (pink) crossed above the 200 ema (light blue) which is a golden cross, these are very powerful, and it shows the overall trend so far has been extremely bullish on higher time frames. Another long-term bullish thing is the 89 ema (orange) getting above the 377 ema (purple). As long as price action doesn’t suddenly come down to $5,000 by tomorrow at 8pm EST then these ema crosses will be confirmed. All the smaller moving averages are getting above the larger ones, this is indicating to us that the long term is looking good for Bitcoin, we can see this in all medium and higher time frames. Stochastics %K (blue) had a bullish cross above the %D (purple) a few ticks back and we’ve been pointing up ever since in the critical zone, which for longer term strong trending moves can stay up here for quite some time, just looking back in history you can see this point proven (the entire month of May 2017 had stochs in the critical territory) Stochs looking like it wants some more up action. RSI just had a fresh cross above the ema and we are in the critical zone, same deal applies to the RSI, when we are in a strong trending move this can be in critical zones for quite some time (Once again, May 2017 and multiple other areas) RSI looking like it wants more up. If we get up to $9,500 even $10,000 and put in a local top up there (candlestick ticking below previous candlestick low that put in the high) then that makes way for some potential nasty bearish divergence since we could have a lower high on the RSI but a higher high with price action. Whenever bearish divergence takes place I tend to look at the 21 ema on whatever time frame it occurs on for an immediate target, with the 2 day that comes in around $6,850, by the time this move puts in its local top it could be up at $7,000. Overall I would say the 2 day bulls are in control it wants to see a $9,500 Bitcoin before it retraces. For the bearish case see Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
BITSTAMP:BTCUSDLong
by Coin_Savvvy
Bitcoin: Higher Time Frame Breakout Series - DailyCoinSavvy here with a breakout update, we are going to focus on different time frames to give us a heads up of what is to come after this breakout is finished rallying, so far though very exciting and if you look back at my post from the 17th here you can see that the 3 day closed above the 200 sma and how I wrote if that happens then Bitcoin is going to around $9,500. To gain maximum perspective, we should look at low, medium, high and macro time frames. This is so we can put the puzzle together and see the big picture to make educated game plans to execute depending on whatever scenario plays out. I am creating multiple chart analysis Ideas for the high and macro time frames starting with the Daily then the 2 Day, 3 Day, Weekly and Monthly. Analyis : To start I have posted this Daily chart, we can see this fresh breakout got us all the way near $9,000 in just a day and Bitcoin closed very strong above $8,700. It’s above all moving averages and most of the smaller moving averages are trading above the larger ones which is all very bullish. Stochastics %K (blue) had a bullish cross above the %D (purple) and entered back into the critical zone (80) a few days back then defended it and now it’s pointing up, looking like it wants to go higher. RSI (bold blue - 14) broke above the ema (white - 21) and entered the critical territory looking like it wants to go higher. If we keep going higher we may create some bearish divergence depending on how many candlesticks it takes as well as if RSI doesn’t get above and close above the 87.5 reading, if it were to get above that level it would invalidate the divergence. On that same note, if it takes more than a few candlesticks then that would also invalidate the divergence due to RSI reading being 14 and the number of candlesticks that go back to that high would be more than 14 (same thing for stochs divergence) so that would invalidate the divergence. If we look at the higher time frames, these are way more probable to creating divergence and it’s something I want to discuss for the 2 and 3 Day charts. Daily looks like it wants some higher prices, my target is around the $9,500 area although I could see us get all the way up near $10,000. At that point I am expecting a pretty severe retracement but will speak about this in a different series. To bring up the other side of things, if we put in a local top at $9,000 then bearish divergence would play out and that would take us down to around the 21 ema around $7,600 which wouldn't be what the bulls want and could be an indication that this may be our our longer term local top to send us back down to the $6,000 - $5,000 region. Of course this is the least likely thing to happen in my opinion but want to be prepared for if it does happen. 4 hour closes below $7,600 would be a sell for me. Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis.
BITSTAMP:BTCUSDLong
by Coin_Savvvy
Bitcoin! Targets and Fibs to keep an eye on in the medium term!It's all in the chart. Here are the targets I'm mentioning: 1) We already hit and blast through our first bull flag target (yellow color) 2) We've yet to hit our second Cup & Handle target @ $7.8k (purple color) After we hit this target, I'm expecting a significant retrace back down to either the $6k levels or the 55 EMA at the worst (around $5.3k at the moment) 3) The macro Falling Wedge target is @ $11k (white color)-- we should hit this after our In betweek the above targets, the fibs paint other important levels to keep an eye on. *** Bottom line:*** 1) Correction to happen after hitting $7.8k levels. >> Correction maximum down to $5.3k (the 55 EMA) 2) Upside >potential is to hit the Falling Wedge target at $11k. Roaring bull market to follow beyond that level!
COINBASE:BTCUSD
by Leb_Crypto
1