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BTCUSD ~ Correction Continuation Incoming (high probability)After ETH hit a new ATH and BTC didnt even budge, I think what we are looking at is a setup for a major market correction, after which we will see new ATH's across the board in a massive and unprecedented pumps that will take the overall crypto markets to new levels. We have been expecting BTC to retouch its weekly support MA's for a long time, and it hasnt. Meanwhile those MA's are catching up, but they are still in the 40k's zone. A healthy correction down to 10W and possibly even 20W MA would setup the entire crypto markets for a very healthy extended bullrun; especially given ETH and ERC-20 tokens recent pump to new ATHs and recovery levels. Get your long pants ready in the coming days/weeks!
KRAKEN:BTCUSD
by ezpi
BTCUSD ~ Market Momentum AngleHere I am demonstrating market momentum trajectory in a super simple way where, in fact, you can fully understand market cycles and trend in a likewise super simple way. Basically think of market momentum and trend as a measurement of the angle above 0 degrees. Positive trend = positive angle = bull market Negative trend = negative angle = bear market Duh....right? Well one thing you can also do with this is look at how the bull and bear markets are changing pattern. Because a bear market doesnt just happen overnight. You dont have an positive-65-degree bull market and then tomorrow have a negative-65-degree bear market. You get small indications where the curve topples over and begins the new trend. Over the last weeks I believe we have shifted trend in the market. This means, IMO, we are in an accumulation stage rather than a bull market stage. Given this accumulation stage is still quite positive angle, I fully believe we are accumulating for another bull run. You can measure the angle of the accumulation stage we were in before the previous bull run that topped at 62k to see the difference of angle of this accumulation vs previous accumulation as well - another good indicator telling us how shaper the upward angle will be in the next bull run. EG: If previous angle was 15-degrees accumulation stage, and then resulted in a 45-degree bull run; -- ; and in this phase we are in a 20-degree accumulation stage, that means we should see a 60-degree bull run (sharper upward angle, and much bigger increase % in price). Another thing is that we did not hit the 20W MA (20 weekly moving average) which we havent hit for many months. BTC and all cryptos, generally want to touch back down on the 20W MA, and the longer the chart stays above or below this line, the stronger the "gravity" pulling it back to it. However, an accumulation stage would allow the 20W MA to catch up to the price, but it would require a longer accumulation stage to give the 20W MA time it needs to catch up. One way or another, I believe we have to eventually hit the 20W MA at this middle point of the bull cycle. So, setting buy orders above and below (hoping for dump panic sell wicks) is always a solid idea. Easiest and best way to "buy the dip".
KRAKEN:BTCUSD
by ezpi
BTCUSD ~ Correction ContinuationAs per my previous posts, it does look like BTC has rejected the upward channel we previously held for the entire bullrun up to this point. The re-entry back into the channel also coincides with 10D and 20D MA's which were also rejected. Now we are most likely to go down and retest 50D MA and 100D MA. The 100D MA, over the next weeks, will run up and meet what I call the "price-floor" which I gauge to be around 42k area (not exact, and it will surely wick below it). I am therefor placing BUYS from 45k all the way down to 35k, hoping for some crazy wicks as n00bs panic-sell. For me its been very easy to find good entry BUYS on nearly all charts, to line up between the same ranges of fibonacci-retracements with what I expect BTC to go to. So if BTC is going back down to its 0.618 fib for example, and is currently above the 0.5, you can typically also set buys on other coins at the same fibs (and lower fibs as well, since alt coins will dump more than btc will). In a bull market, only trade or buy with the trend = we are NOT shorting anything. Shorting a bull market is suicidal, as is longing a bear market. Therefor I an NOT marking this chart as a short, even though I do expect we go down. BTC's strength can pump us up anytime, and it might be too strong for us to even reach the price floor we are hoping for. Just like those dumb greedy hedgefunds overshorted gamestop - dont be that one....
KRAKEN:BTCUSD
by ezpi
Bitcoin has very bullish TA and even more bullish FAClean break of the old ATH and reclaimed that old support. Resistance turning into support providing a very clean setup. The total crypto market cap has been making new highs for days now, especially the Altcoin market cap leading the way. Banks are getting in, an ETF is coming and stocks are also back to going up and the USD might have topped for a bit. Even the current drop in bonds and rally in USD weren't able to kill the Risk on rally which is great. Clearly that's a simple target and my stop loss based on some pivots and indicators. Currently my lowest target is around 100-120k, then 150k and then I expect the top around 200-300k. So definitely too early to tell about anything right now. On the other side for now I think 54-55k would be the bottom if we get there.
BITSTAMP:BTCUSDLong
by BitcoinMacro
1
BTC head and shoulders and supportTaking a look at the chart we can see BTC forming a head an shoulders pattern which typically sees a move downward from the the same height as the head and shoulders pattern (marked with two short green lines on the chart). However, we have the trend channel's support to consider. Matching these two indicators up we have a price target around the all important psychological level of 50K. Watch for BTC to make a move down towards the 50K level before finding trend channel support and moving back up. Buy the dip.
Short
by MrInvertigo