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Xbtusdshort

Anticipate Major Bitcoin SelloffOn the previous analysis we commented on how Bitcoin could make another high, however - the upside is limited. After rejection from the weekend and a recent break of structure to the downside - it is pretty much confirmed for lower movement in the Bitcoin price. Look for solid zones to short from, as directionally - the downside is the most likely in this scenario. Especially with traders becoming overly optimistic. Pattern wise, this looks like an ending expanding wedge. Wave count wise this looks to be a very clear ABC to the upside with a wedging B wave. RSI is also overbought with divergence. Buying is much more dangerous than selling at this point despite the recent uptrend.
BITMEX:BTCUSD.PShort
by Elijah_Trading
1
Short Term BTC Upside is LimitedThe upside for bitcoin looks to be running out of steam. With a strong divergence on RSI and a wave count that favors downside impulsive move, it looks as though bitcoin - at least for today will see lower pricing. If the immediate swing low doesn't hold, we could likely assumed a wxyxz pattern will not hold and that these are all impulsive waves to the downside; which looks to be the most likely scenario here. I wouldn't want to assume that bitcoin has started a bullish reversal as of yet. Let this range play out some more since several bitcoin brokers disagree on the pricing of the last big down move towards 18k. Stick with a conservative bearish bias, knowing if we make a new high in the short term - it's likely limited. Then take it day by day for when price moves lower, because medium term (1-2 weeks) pricing could create new yearly lows, but it likely won't be long lived either. Long-term i am bullish, short to medium term i am bearish - due to wave counts and rsi.
BITMEX:BTCUSD.PShort
by Elijah_Trading
XBT Trade the Range Short SetupFor the past 4 months we have been trading inside this ascending channel and broken out of it twice, once in October and November for our most recent ATH . Since then we have fallen back inside the channel and have tested our 58k region with a move to the downside . I would like to see 58400 level lost and see a move down to 55k eventually which will put us at the middle of the channel and probably test the 100EMA . Ultimately I would like to see a move to the bottom of the channel 50400 but its best to trade this level by level . Until then I see continued weakness in the short term but the key here is trade the range your given . Still scalp longs to be had off of the levels shown and short opportunity if we back test 60900 POC region . Know your Invalidation and Like and Follow for all market updates and analysis
BITMEX:BTCUSD.PShort
by SJTRADESFUTURES
Bitcoin Trade Setup - Swing Trading Shorting OpportunityBitcoin Trade Setup - Swing Trading Shorting Opportunity Bitcoin looks weak but that doesn't mean you short it right now. It is forming a triangle pattern and so let it breaks the downside. You can short Bitcoin once it breaks the red supporting zone. If you're a conservative trader, then wait for a break from the red zone and retest the red zone again. If you get any rejection at this key area of value, then you're good to go for short. Follow me, to get the future prediction.
BITMEX:XBTShort
by AkmeAnalytics
BTC Bearflag ABC correctionBitcoin fell out from the rising wedge and is now in a ABC bear flag correction phase targeting the 21 weekly Moving Average which also correlates with the 0.382 Fibonacci from the greater move Corona crash till ATH). The B would also fill the CME gap and if you draw a Fibonacci extension from ATH to A the Golden pocket marks the CME gap perfectly. all this signs tell me this is the most logical outcome. presuming we close todays daily candle above 50k. further if you backcheck bullish corrections take about 2 weeks. so far we have one 1 week behind us. there is 1 more week till monthly close. weekend starts today so i would not be surprise we move up this weekend liquidate the shorts up to the gap. Monday CME opens we print the gap fill and come down for the C to the 0.382 Fib and close the month in RED there making everyone happy that we finally touched the 21 weekly MA again. then start a fresh monthly green candle with probably oscillators reset nd bullish divergence targeting the range highs again. when we get there i will update with a new chart to look at further targets.
CME:BTC1!Long
by Candle_Styx
5
BITCOIN (BTC/XBT) DAILY BUY&SELL TRADE SETUPS 2020/12/24SHORT TRADE SETUP: False Breakout at Horizontal Resistance To open a short position, we are waiting for price to break horizontal resistance at All-Time-High @$24300 and then fall down. Trade Entry Confirmation: 1. Price Action: Price breaks above the high of $24300 and then rapidly falls below $24300, forming a bull trap 2. Candlestick Pattern: A breakout candlestick (candle close above resistance @$24300) followed by a breakdown candlestick (candle close below $24300) 2.1 Ideally breakout and breakdown candlesticks are consecutive candles, but can also have a few candles in between the two. 2.2 Ideally the breakdown candle has a large candle body with very small wicks 3. Volume: Above average volume ( volume above the average volume line) on both breakout candle and breakdown candle, ideally the breakdown candle's volume is a local high 4. MACD: MACD histogram topping out, as indicated by the histogram becoming less positive (color changing from dark green to light green) CAUTION: As we are overall in a bullish market, we will not rule out the possibility that we have a large breakout, in which case we will see if we can enter a long position on the pullback and retest of the ATH. We adapt and flow with the market as it evolves instead of being stuck to pre-conceived setups. Make sure you click the follow button so you are updated. Entry Confirmations: Ideally we get all confirmations for an entry, but sometimes we might take a trade when we have fewer confirmations. The more confirmations, the higher the win probability, though it also means you miss out on some profitable trades if you're only taking trades when we have all confirmations. It's up to your own risk appetite to decide when you feel comfortable entering a trade. You can also adjust position size based on level of conviction, entering a bigger position when there are more confirmations. Make sure you practice proper risk management and money management. Trade Management: I have put in preliminary Stop Loss and Take Profit on the chart, but will adjust based on entry setup, so I will update when we have an entry signal. Stop Loss: We typically put a SL around the high / low of the entry area, though we might adjust based on market conditions such as high ATR or long wicks. Take Profit: We typically aim for at least a 2:1 RRR (risk reward ratio), but you can decide to take profits earlier, adjust stop loss as we get into profit, take partial profit, leave a small portion for larger gains, etc. How you want to manage depends on your own risk appetite and what you are comfortable with. MAKE SURE YOU FOLLOW ME SO THAT YOU DONT MISS TRADE SIGNALS, GET THE LATEST SL AND TP LEVELS, AND FOLLOW THE TRADE PLAY OUT IN REAL TIME! DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR. QUESTION Would you like me to add a section on overall market conditions in addition to the long&short trade setups to these daily posts? Let me know in the comments. Thanks.
by cryptotraderog