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Xbtusdshort

BITCOIN LOOKING FOR NEW LOCAL LOWSHello friends! Well Bitcoin is having a tough time staying alive, giving just enough boosts for small hopium addicts to stay in this sustained downtrend while big bags make sneaky exits. Looks like bitcoin bulls missed their chance for any REAL upward movement, as demonstrated by my green arrow. Now facing CRUSHING resistance in the 8k - 8.3k region , but almost equally strong support in the 7.8 - 7.9 region. It’s my prediction that these levels could break to the downside, maybe even significantly so, before we see interest from buyers again. Please leave a like if you agree or found this helpful. Always use proper risk management. And good luck! Right now we are sitting at support about 7930. I will wait until the top of this bounce (to the best I can) before I place my short. It’s normally a bad idea to short support. Happy trading! Please join me on my free discord for round table discussion and to follow my daily calls discord.gg Disclaimer: I am not a financial advisor and this is not financial advice. For entertainment purposes only.
Short
by peakindicator
BITCOIN BEARISH PRICE ACTION Bitcoin was farmed bearish descending triangle pattern. Current price action bellow EMA 21,50,100,200 lines, strong Downtrend. Bitcoin closed bellow confirmation line.Potential Strong resistance at 8600$. With bulltrap at 8821$.Look really bearish. Potential short target 7900-78XX. Bearish Volume increase confirm downtrend price action. Indicators: RSI bellow 50 points, MACD bearish crossover bellow zero line. Bearish Sign. S/R: Tripple Tested support at 7688, Support 7900, Temporary Support 8095, Resistance 8600, Major Resistance 8821 Pattern: Bearish Descending Triangle. Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
BITMEX:BTCUSD.PShort
by blockchaintrends
Bitcoin (XBT) Bitcoin headed to 8000.Bitcoin should be headed to 8000. This is extremely likely. Unless support starts forming right now it should get there pretty soon. Since there isn't much support building up at the lows, it looks like the high 7000s price will not be the bottom for Bitcoin. Probably get out of your long positions. Looks like consolidation (waiting for positions) before massive dump which should go like the previous one. The last dump was actually made extreme by some dumb whale(s) who were attempting to keep the price up. Then they got super dumped on and had to liquidate their entire position. (Probably not true but best guess after looking at data which shows someone trying to buy wicks up.) Transfer of wealth.
BITMEX:BTCUSD.PShort
by HD1184K
1
Bitcoin BTC History Repeats Itself...Discount Time?Bitcoin BTC has seen significant sell pressure & based on past patterns, without buy volume in equal amounts it will be hard to keep price action moving up. We are now oversold on the daily RSI for the first time since we saw a massive discount to 3K & it seems like we may have that opportunity once again around 6K as the economy stays in turbulence and BAKKT futures repeat the sell-off CME brought to us during the last bull run. In recent price action, Bitcoin has rejected on the 200D MA & also isn’t bullish on the 4hr EMA (being below 40). I’d like to see price action above these levels before going long as we have now confirmed the 200D MA as a resistance level rather than a support. If BTC can just go above the 200D MA then things may change to the upside however it doesn't seem like that's what it wants to do with a huge rejection today and no buyers in sight. We are also in the weekend where manipulation is high so it’s going to be a matter of going above these levels until I see a good opportunity for a long position. Looking at the overall market structure we are sitting in an empty zone where the price can very well head lower but there isn’t enough reward for a short in my opinion. If we see any break down I think we may find some great discounts on BTC around the 7-7.5k level & possibly the 6-6.5k level depending on how much sell-off we see. Gold XAU is also not looking so good and has room for a correction so this may be time for BTC to also see it's healthy correction before continued upside. With investors knowing the 3K level was an enormous discount, I believe we will see massive buy pressure around 6K especially with more institutions in the market than before. 2020 looks to be a great year and we will continue to update our TPC family as always, LIKE this idea to support my work, thank you! COINBASE:BTCUSD Naeem Al-Obaidi
COINBASE:BTCUSDShort
by TradersProfitClub
9
BTC shows a strong bearish favor in weekendBTC shows a strong bearish favor in weekend After a dump and pump of BTC on Sep. 19, 2019, BTC's price has formed a descending triangle pattern on the M30 timeframe. Though local resistance prevents BTC to go down, most of the indicators on most of the lower timeframe (H4 and lower) point to bearish favor. Though triangle patterns are the bilateral patterns, which means BTC might go on either way (up or down). From my experience, the price will have more chances to break down local resistance at the end of the triangle. A SHORT idea with the final target to be on 2nd local support, with a protective stop at MA20 is recommended. Important supports and resistance are as shown in the chart.
BITMEX:BTCUSD.PShort
by Batrachotoxin
What should happen next for Bitcoin after this move.Bitcoin had a massive dump today. It looks like the bottom should be around 8k to 7k. In the meantime, it will probably consolidate above 8k. There is a chance for it to move higher from the current price. Personally I have placed bids from 8k to 7.1k and have gotten filled for just one order which really made my day. I believe a great place to enter long is ~8300. However, keep in mind that after such a massive dump, longs are very risky and shouldn't be kept unless it continues looking good. If you want to be safe, just wait a few days so you can see clear support.
BITMEX:BTCUSD.PLong
by HD1184K