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Bitcoin re-evaluation, New outlook.I am rethinking my strategy and targets ( ) as volume has been disappointing. we can see that 6300$ is a very tough resistance to break. We had 2 wicks through it but never closed above it. why 6300 region is tough barrier to break: - Tenkan 1D - Kijun 12H - 0.5 fib retrace why 6300 might break: - have been poked 5 times in 1H, which makes it weaker - 12H RSI holding very bullishly - lower 6.2k have printed instant lower wicks - current price is sitting on 0.65 fib retrace. Plan: - keep watch on volume - move stop to profit - if dialy closes red, high wick, or shows more weakness.. take profit and wait for another entry. Analyze daily @AresTrade
BITFINEX:BTCUSD
by AresTrades
Watch Out When Breaking $10,000Watch Out When Breaking $10,000 Since everyone expects a bull market as soon as we break the $10,000, I imagine the drop will come much sooner than expected. So I could very well imagine that the market is going to fool everyone like everytime. Therefore, you should take care very well. Again and again I read in the comments of 'Top Authors' that people will do the opposite of what they do. What is happening? It happens exactly the opposite. I do not want to talk bad to anyone, but many are very easily manipulated by the market. As a smart whale, you would do everything to be able to benefit yourself or right? That's why they do the opposite of what the crowd does and it works every time At the end, I would like to say that this idea might be wrong. You decide in the end about what you do. This should only be a warning. It may be right or wrong. The market decides what happens. Note: The red arrow only indicates the direction it could go if it's a fake out. As a result, there is no specific target, as we still do not know how far down it will go when this scenario is happening.
BITFINEX:BTCUSD
by EWHALE
16
BTC Analysis 4/9/18 "Where's the Support?" YOURE LOOKING AT ITSeems that I cannot type this idea fast enough as the projected bull rush is IMMINENT. This morning we watched BTC fall from controversial low 7k levels all the way back down to the critical support of 6600. This critical support has more to it than it seems. 6600 was not just set at the drop in February, it truly was determined at the CVI minimum in November. I have taken interest in volume patterns recently because the new trends of the past week are only to be gauged by sentiment, because as we already know, most of the price fluctuations have been big players and not a reflection of trends among small traders. By looking at the CVI, it becomes apparent that the true beginning of BTC POPULARITY began that November. What I am hoping this indicates is that all the big fish that have joined since then are finally out of the market. This is reflected in the stagnation at those mid-6k levels. On this graph I did some quick trend analysis based solely on the local maximums and minimums of market cash flow. Buying and selling trends fall easily within the CVI bounds, and point strongly towards another push past 7500. I want to stress that the growth from 6600 to 7200 has been extremely unusual within a bearish market pattern. Buyers are slowly pushing up the psychological support levels by about $100 at a time, and regardless of the big selloff this morning, the bulls have seen great resilience in bringing the price back to these levels with every passing day. The trend has already broken important resistance levels, and there is no apparent reason for someone with an influential market share to sell at levels below when BTC became table talk (6600 in November). If the price breaks out of the resistance level it is currently sitting on, I expect the market to test every low 7k resistance level until selling pressure becomes overwhelming above 7500.
Long
by rolflocher
Bitcoin BTCUSD Watch out for potential Head and Shoulders hereBitcoin BTCUSD Update If you got long again at the ridiculous hour of 11.30 pm est you're hard working and deserve your 400 points reward. Weirdly the crypto chat room was quite quiet with a guy from London waiting for the BCH burst to top out so he could bail out and fade the consolidation. London's finally catching on. 2018 will be so fascinating and fast moving. It's good for competition, good for spreads and good for us therefore, in time. Now, finally people are taking BTC very seriously. So many Bitcoin jobs to be created now. How long for though? No one can answer that one for us but if anyone will know in advance it will be GS. And the chart. Until that day comes we ride this like nothing has ever been ridden before...in the entire history of speculation. Ever. We are alive for it. Wow Right now Bitcoin is trying to track huigher but is, weirdly, being contrained on the upside by an old parallel from way back in the mists of time (hell, it's 14 days old - that's 2 years in FB time!) - and yet it's clearly back in play once more, stopping the rallies. Another nice day in prospect for day traders but not much for others right now. It's trying to hold a newly forming little parallel off yesterday's lows and needs to keep holding up there or we have a danger of a head and shoulders forming here off the top, with a neckline at 15809 and a minimum downside target at 14210 if it gets broken. Time will tell but right now this is not a very strong pattern, except for day traders. Unless you look to short if head and shoulders gets completed later on, as above.
BITSTAMP:BTCUSD
by sumastardon
2