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Bitcoin XBT Stops Update and Next Trade Points from HereBitcoin Bitmex Update Not much has changed overnight. It was still a buy on tests of the 7355 line but only for scalps... If you bought on the second test of this level overnight raise the stop to 7438 for now. The spikes above price suggest it's still not wanted much above 7500 so far. The rest stays the same for now, a repeat of yesterday as nothing has changed yet. On Bitmex feed it's still effectively stuck in the range bounded by three lines of important resistance at 7615 and 7683 and 7741 and one line of support at 7265, which now needs extending to cover the spike low. Whilst inside the range it looks like scalping opportunities at best for now. Buy on dips towards the 7355 nearest support line with stops just under 7350 looks to be the best option for those looking to trade this inside the range from here. For others, an eventual break either side of the range should be worth following more aggressively. Has to break above 7750 on high volume to follow long looking for 8600. And on the downside has to break below 7240 on rising volumes for next good shorting opportunity, looking for a retest if 6819-6792 range where it should bounce again if tested. But until then it looks like we remain limited to scalping opportunities inside the range *Day-Traders: For fastest updates in real-time please check link at top-left of main page.
BITMEX:XBTLong
by sumastardon
4
BTC UPDATEAs expected, we had a little bit of a boost but it was was harshly rejected and price was sent down to its current level. We will need to see some bulls show up to the party or we may be in for a long ride. Pivots are very relevant right night. We need to push through this blue pivot in order to enter bullish territory. I'd really like to see a close above the descending red line today. We printed an ugly shooting star candle stick on the 12 hr chart, would like to see a more neutral/bullish candle appear. I wouldn't recommend any trades right now until we exit one to one of the zones noted. If anything, move into coin or cash and use a SL depending on the direction to re-enter coin or exit in case we go north or south.
KRAKEN:BTCUSD
by infbp22
BTCUSD Sunday Chart Update and Key Trade-Points TodayBitcoin Sunday Chart Update and Key Trade Points So far this looks like a good Reverse/Inverse Head and Shoulders in classic formation with a perfect retest of the neck-line yesterday at 7600 (even more so because no one seems to have really mentioned it - the low today here is 7600 precisely). It carries with it a minimum implied upside target at 8163 on Bitfinex. But in the near term Bitcoin has made an 07:30gmt break higher from the 7644 line as it did yesterday too -before spending 24 hours moving sideways again. The new normal. Sheesh. Every break higher is getting faded now for hours and hours after the intial impulse. £0 minutes of action followed by 24 hours of continuation. Just like fishing on a slow day :( But this break today is still potentially significant. We now have a technical battle emerging between the power of the RHS on upside and the power of the upper dynamic of a loosely defined rising wedge-like formation on the downside, both in opposition to each-other, one a positive force and the other negative. So we can spend quite some time today in yet another continuation pattern with support at 7700 and extending to the lower parallel of the newly forming pattern from the intra-day high. Both these opposing patterns are powerful. Which pattern will prove stronger ? Well, so long as the dynamic which forms the lows of the right shoulder holds up on retests today the likelihood is that eventually the break will be higher and not lower. If so other than buying the dip to 7700 and below to 7768 and maybe to the 7644 line the only other option is to buy the break above the upper small falling dynamic from the intra-day high when and if it comes later on - need a volume spurt to follow it to know it's good - but the pattern is still overall positive at this point and the uppermost risng dynamic which capped the high today so far, is beginning to lose its power and on the 5th strike it should break too. That will open the way for a RHS to take control and begin to drive price towards the upside target at 8163. Returning to the downside Bitcoin has to break below the risng dynamic underpinning the lows of the right shoulder of the RHS to start flipping longs out back to 7644 and if this then fails to the neck-line itself again at 7600. This level must hold up throughout the day from here. Any failure by more than 15 points will flip Bitcoin back into bear hands, signalling ultimate failure of the RHS and trigger a short from this point with stops 50 points or so higher if struck later.
BITFINEX:BTCUSDLong
by sumastardon
LTCUSD So far so good needs Bitcoin to break above 7735 next to LTCUSD Weekend Update So far rhe break above the pennant top has gone about 3% but fallen short of the first resistance line at 124.73 by 60 pips and more which is frustrating right now. The break high was bang in-line with Bitcoin's break above 9450 at the same time as Europe opened up for the weekend and rally in both was about the same in % terms. The 124.75 level here is as important to the near term as the 7735 level is to Bitcoin. Both levels need breaking soon for the day's rally to maintain momentum through the day. The longer both languish below them the more wary we need to be. However whilst Bitcoin itself holds up at 7600 there's no point in closing any longs now. But that view will have to change if Bitcoin is sold back much below 7600 again from here. 11:49gmt 06:49est Friday LTCUSD Litecoin Another Alt which has come back to major support and is looking poised for a good break higher if Bitcoin will oblige later. Right now it's in a little continuation or pennant pattern - again waiting on Bitcoin
BITSTAMP:LTCUSDLong
by sumastardon
ETHUSD Update and Key Levels AheadETHUSD Update and Key Levels Ahead Won't quit - grinding higher off a new little dynamic still forming - so far so good still. First support for day traders at 589. Then Near term support building at 564 with more important medium term support at 543. On the upside we can see clear congestion at 610 up to 615 - an eventual break and hold above here would be very bullish for the more medium term, tempting more buyers long to 643 in the nearterm and then in stages to 685 and higher still in medium term. The 609/615 range therefore looks quite likely to be the key area to watch and trade off over the coming days here.
BITFINEX:ETHUSDLong
by sumastardon
4
Bitcoin Projections: How I'm playing this CorrectionHey Traders, I'm optimistically bullish until we drop under the .618 retracement line. With that being said this chart shows my expected entry and targets for how I plan on playing this bitcoin recovery. This is a temporary play which is why i have exit targets and I'm not holding til a new high, As more data comes in i'll look at taking a re-entry position and aiming for new highs if that is what the market leads me to believe. stay tuned for that. You can follow me on several social platforms under crypto hippo or the crypto blend. I create a daily video of bitcoin for those of you who would prefer videos instead of the charts I put on tradingview here. Thank you all for your support and comments and please follow if you enjoy the simple, yet effective charts I put up.
BITFINEX:BTCUSDLong
by TheCryptoBlend
Bitcoin Projections: The END is NEAR!!!Hey Everyone. looking at our expected daily update of bitcoin today and we can see the correction is playing out in tune to our previous charts. I highlighted critical points that would determine if the correction would play out deeper or if we were looking at a potential larger elliot wave playing out in the bulls favors. We saw divergence in the volume vs the climb on the chart that confirmed we'd see an expected drop lower. Sign #1. We are seeing that same divergence with the attempted retrace right now at 8600 which supports my belief we will drop further shortly out of this bear flag thats forming on the 1 hr chart. Lastly, our end of Wave C projection is most likely 8100 to be a safe bet, and even 8300 is a safe entry i'll start stacking my longs at. A drop below 7900 should be worrisome and is worth looking at bitcoin agian to check indicators on whether we may be downtrending at that time rather than just experiencing a correction. Hope this helps> As always, this is not financial advice. :) Take care and best of luck traders. Look me up on Youtube
BITFINEX:BTCUSDShort
by TheCryptoBlend
1