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Usdbtc

BTC an opportunity for 2 bullish patternsim not a big fan of trading patterns but if one of them will play out i wanted to show you how it could be. the first one is the cup and handle pattern which we are missing the handle, we might test 8600$ again to create the handle lower than that will be bearish. the next is the big ascending triangle which is even more bullish and its target is higher than the cup pattern. i will look closely to see if one of them will play out and will be updating here.
BITSTAMP:BTCUSDLong
by danni24
2
All that glisters is not gold.Today I have taken time to zoom out and take a look at Bitcoin from a larger term scale. I go into this analysis with zero bias of how I expect Bitcoin to behave, and solely acknowledge truth from the chart. Firstly, Bitcoin is being held down by the trend line resistance resistance established on the 29th of November, and then confirmed from the touches on the 24th of December and 8th of January. This is a valid and strong resistance trend line, which until broken keeps the macro trend bearish with continuous lower highs. The lower highs have been a theme for Bitcoin throughout 2018 and now continuing into 2019. A metric for helping me decide when we may be reaching the end of the bear market will be the first higher high and higher low become pained on the weekly chart. Although this metric alone cannot determine the end of a bear market, it is needed for the start of a bull. Secondly, I have taken a Pitchfork from three significant pivots on the Bitcoin chart. The twenty thousand dollar high, the five thousand eight hundred low, and then the eleven thousand six hundred high. From these three pivots, and modifying the pitchfork, I have worked out a channel Bitcoin has been respecting for the last eleven months; currently finding resistance on the .1 from my Pitchfork. Lastly, price is now ranging between two Fibonacci levels the .786, which is resistance, and the .886, which is support. A break below the .886 I would expect the horizontal supports to be tested and held. If Bitcoin breaks the .786 a test of the old support of six thousand should be tested quickly. The reason why I believe a swift rise would be seen is that above the .786 Fibonacci level there is little resistance between that and the old support. I would like to add the 200 simple weekly moving average has acted as support twice now for Bitcoin, therefore it is a support that is currently being respected. I hope you have enjoyed this write up about Bitcoin and given perspective of what is happening on a macro time frame. It is important to remember that a market trends only ten percent of the time, so one should be looking to scalp or swing trade these ranges until important supports or resistances are penetrated. - Idea I posted about Bitcoin finding support at the 200 weekly moving average on its second touch, which happened.
BITMEX:BTCUSD.P
by PatekCharts1
2
Bitcoin reaching its apex. Last Friday Bitcoin had a 10% upwards movement holding the .786 Fibonacci level as support and breaking up from its falling wedge (also got within $20 of the 200 weekly moving average again). Following this move BTC seemed to be forming a bull flag for continuation, but this bull flag has extended now going on for 1 week, which is why i am not taking a flag pole target if we break up. On my charts I have marked out the trend line I am trading Bitcoin from. On the largest scale we have a symmetrical triangle. Moving down I have pitchfork lines, a parallel channel and my EMAs. I have been scalping Bitcoin from the trend lines over the past few days and my trades has played out successfully. As Bitcoin edges closer and closer to the apex of the Pitchfork and mid parallel channel i expect a break. Currently I have no bias and will be trading the move either way. If Bitcoin is to get a candle close below the mid support trend line I will short down to my target of the .618 Fibonacci level, and will long a close above the resistance trend line with targets being horizontal resistances. Obviously if we move sideways out of this apex I will not be taking a trade, and will study the charts again to find a new setup; but for now this is what I will be trading. Either position will give me extremely good risk to reward ratio trades. You must rise above affiliation. Be neither a bull nor a bear, but only seek the truth. The truth is the chart; a chart cannot lie to you or give you a bias, only your psychology and emotions can do that. A topflight analyst is free of bullish and bearish biases and will trade only when a setup is there. Here I am letting either setup come to me, being a patient trader and entering upon a break. In the meantime there are alt coins with setups to trade right now, and the stock market volatility continues each day (something I thoroughly enjoy to trade).
BITMEX:BTCUSD.P
by PatekCharts1