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BTC Weekly Outlook (FA&TA)First of all, please support our work by smashing that like button or following! These really help us to reach more traders like you! Key Fundamentals: 1. Smart money action: The on-chain smart money actions are now stable at a bullish level. This is similar to the on-chain developments before prior bull runs. Institutional investors showed picked up interest in the crypto space as Grayscale raised $900M in Q2 (its ATH quarter since inception). The $900M won’t be available for exiting until at least October 1st this year. 2. Miner action: Both hash rate and difficulty have recovered, and miner capitulation has ended. With miner capitulation historically marking market bottoms, this is a bullish long-term sign. 3. Market Sentiment: Overall market sentiment is now neutral after being overly bullish last week. For the seller group sentiment, this group remains in a bull trend but the current price is getting close to this group’s purchase price. This means, soon, we will see a decrease in supply from the current group of active traders. The ideal accumulation zone is around 10.5-11k. 4. Margin Market Actions: Potential short squeeze alert (short-term) in place on 8/22. However, kind of exhausted at this point. The CME institutional traders’ significant increase in short positions put us back in an institutional bear trend (do keep in mind institutions trade differently from retails, and exit at wave 3s rather than wave 5s --> liquidity!), and potentially indicate a further cool down to 11k. 5. SPX correlation I don’t think SPX is going to experience a major correction anytime soon. Q2 numbers didn’t cause much of a market impact. What this means is the current price level already has the negative COVID impact priced in. The market runs on expectations rather than actuals. 6. CME Gap 90% of historical BTC CME gaps get filled sooner or later (generally created by weekend BTC movements when the CME’s closed). Yes, we still have a $300 gap open on 7/25. However, after such a long time, the gap filling (big if here) will be more of a result of general market movements rather than the cause. Key Technicals: 1. Key support at 10.5k and 9k. 2. 5 Elliot wave to the upside likely finished 3. RSI bearish: Potentially failing MA & resistance at 60 with RSI bearish divergence 4. MACD bearish: MACD bearish divergence No sign of histogram up tick yet Do you agree or disagree? All thoughts and critics are welcomed!
COINBASE:BTCUSD
by Phi-Deltalytics
52
Showing Bearish Signs But Not All Dark & GloomyHello Everyone here is a quick summary on what I'm thinking happens next. As much as I want Bitcoin to finally break $12,000 we will need to take a rain check in the short term. Bitcoin on the 4HR has ST Support around $11,250 and major support at $10,800 and $10,500. I am not at this point joining the crowd that is calling for the Gap Fill at $9,600 but the longer we remain above $10,000 the more bullish our sentiment will get overall. Daily MACD is finally coming down and ST time frames (1HR & 4HR) are flipping bearish signaling down so I am expecting a dip to the 10.5-10.8 Support if/when we finally break $11,250. But I'm holding off on shorting till we get confirmation at $11,250 as we could easily test the 11,500-11,600 before this occurs. Good Night and Ill update everyone once we get some price action, Thank You!!
COINBASE:BTCUSDShort
by jonathonsnell23
4
BTC Weekly Outlook (FA&TA)First of all, please support our work by smashing that like button or following! These really help us to reach more traders like you! Key Fundamentals: 1. Smart money action: The on-chain smart money actions are now stable at a bullish level. This is similar to the on-chain developments before prior bull runs. Institutional investors showed picked up interest in the crypto space as Grayscale raised $900M in Q2 (its ATH quarter since inception). For the short-term, institutional traders on CME is finding support at 11k. 2. Miner action: Both hash rate and difficulty have recovered, and miner capitulation has ended. With miner capitulation historically marking market bottoms, this is a bullish long-term sign. 3. Market Sentiment (on-chain): Overall on-chain market sentiment is still overstretched, and a sentiment calm down is needed. For the seller group sentiment, this group is still selling in profit and remains in a bull trend. Buying the dip is simple in this type of market: wait for the price approaching seller group purchasing price à decrease in supply à increase price. 4. Margin Market Actions: Not much confirmed obvious bias yet. 5. SPX correlation I don’t think SPX is going to experience a major correction anytime soon. Q2 numbers didn’t cause much of a market impact. What this means is the current price level already has the negative COVID impact priced in. The market runs on expectations rather than actuals. 6. CME Gap Last week, the 9.6-9.9k gap seems likely to be filled. Right now, it’s looking less likely as we are developing a short-term flat corrective wave. This type of wave generally preps us for an explosive move in the same market direction (up in the current case). (90% of historical BTC CME gaps get filled sooner or later - generally created by weekend BTC movements when the CME’s closed). Key Technicals: 1. RSI: RSI now showing extremely bullish signs. (2D, 1D) Be careful shorting with RSI bearish divergences. Once RSI is extremely bullish, bearish divergences can keep on developing with price making new highs. In this type of situation, the key is waiting for the MA failure (instead of bearish divergence) for a trend reversal identification. 4hr RSI support at 40 – would be good dip buying opportunities. 2. Support/Resistance: Key support at 10.5k – 11k. 3. Wave developments: We are likely in wave ii of III. Details see the chart above. Are you a bull or a bear? Do you agree or disagree? All thoughts and critics are welcomed! =========================================================== 🌐 We believe in the power of blockchain on-chain data analysis! ===========================================================
COINBASE:BTCUSDShort
by Phi-Deltalytics
51
Wave Reader Update 19.08.2020NR.1 TOP Author in the German speaking crypto area. ________________________________________________________ Bitcoin has made an incredibly strong move and we are at about 70% price plus since the "BUY" signal of our Wave Reader. Overall, we are in a strong upward trend, in the smaller time frames, but are showing signs of weakness and we could fall back to 10150 dollars for the time being. If you are interested in using the Wave Reader yourself, write me a message and I will activate it. Have a nice start into the Tag and Good Trades.
BYBIT:BTCUSD.P
by Mr_Sagitario
Hey Hey HeyOur Friend Bart Simpson came to visit us this morning so what does that mean moving forward? For me the longer we remain under 12k the more bearish this scenario gets. We need to close todays daily candle above 12,000 if not i fear we could hang in this 11,700-11,950 area for awhile as we can easily make the move to backtest $11,200-$11,300 again if bulls drop the ball here. Bull Target- Just close today above 12k - Bear Target-$10,800-11,200, Thank You For Your TIme!
BITMEX:XBT
by jonathonsnell23
This range will show the way soon ...This range will show the way soon, we had a big pump to 12k and btc needs to rest(or correction). By these lines and ichimoko cloud you can easily guess that what I wanted to tell here. We should see a touch on the line and ichimoko cloud, confirmation of it, will head us to 15k. So, I recommend you to be careful for a few days ... If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading. Take care, trade safe and GOOD LUCK(ALWAYS WEAR A FACE MASK!).
BITMEX:BTCUSD.P
by AminHa4
4
Strong support foundOk guys, you saw 11500 confirmed as bottom line here, we had several touches on 12k and it rejected us again, but there is something forming here ... Ascending trend line, triangle(market and rsi), bullish divergence in rsi(Again and again ...) So, I recommend you to keep your eyes open on market, its possible to see a retest on bottom line, and also after that testing mid line(we are in mid line now) and top of the channel(12k) If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading. Take care, trade safe and GOOD LUCK(ALWAYS WEAR A FACE MASK!).
BITMEX:BTCUSD.P
by AminHa4
3
BTC Weekly Outlook (FA & TA)First of all, please support our work by smashing that like button or following! These really help us to reach more traders like you! Key Fundamentals: 1. Smart money action: The on-chain smart money actions are now stable at a bullish level. This is similar to the on-chain developments before prior bull runs. Institutional investors showed picked up interest in the crypto space as Grayscale raised $900M in Q2 (its ATH quarter since inception). For the short-term, a correction is needed as institutional traders on CME remains bearish and the drop in net position last week indicates an overvalued 11k price for the shorter term. 2. Miner action: Both hash rate and difficulty have recovered, and miner capitulation has ended. With miner capitulation historically marking market bottoms, this is a bullish long-term sign. 3. Market Sentiment: Overall market sentiment is now overstretched, and a sentiment calm down is needed. For the seller group sentiment, this group is still selling in profit and remains in a bull trend. Buying the dip is simple in this type of market: wait for the price approaching seller group purchasing price --> decrease in supply --> increase price. 4. Margin Market Actions: Potential long squeeze alert in place. This is bearish for the short term. 5. SPX correlation I don’t think SPX is going to experience a major correction anytime soon. Q2 numbers didn’t cause much of a market impact. What this means is the current price level already has the negative COVID impact priced in. The market runs on expectations rather than actuals. 6. CME Gap 90% of historical BTC CME gaps get filled sooner or later (generally created by weekend BTC movements when the CME’s closed). The drop we’ve just seen is also another gap filling action. So be careful about the 9.6-9.9k gap. This hasn’t been filled yet, and probability speaking, it’s likely to be filled soon. Key Technicals: 1. Key support at 10.5k and 9k. 2. 5 Elliot wave to the upside likely finished 3. RSI now showing extremely bullish signs. (2D, 1D) (Be careful shorting with RSI bearish divergences. Once RSI is extremely bullish, bearish divergences can keep on developing with price making new highs. In this type of situation, the key is waiting for the MA failure (instead of bearish divergence) for a trend reversal identification.) Do you agree or disagree? All thoughts and critics are welcomed! =================================================== 🌐 We believe in the power of blockchain data analysis! ===================================================
COINBASE:BTCUSDShort
by Phi-Deltalytics
70
Dealing with mid line ...Alright, rsi backed to the channel, ma 50 is trying to support the price, ma 200 is coming, rsi supported in 4H, and also we have a support line too. We saw that 10500 touched and rejected us to the 11k, it confirmed as bottom, Congrats. So there is some ideas here, cross under of ma's or support of rsi and line? If you see a cross under of ma 50 and 200, it means markets wants another down trend. Other side is up trend ... and there is no need to explanation. If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading. Take care, trade safe and GOOD LUCK(ALWAYS WEAR A FACE MASK!).
BITMEX:BTCUSD.P
by AminHa4
2
BTC Weekly Outlook (FA & TA)First of all, please support our work by smashing that like button or following! These really help us to reach more traders like you! Key Fundamentals: 1. Smart money action: The on-chain smart money actions are now stable at a bullish level. This is similar to the on-chain developments before prior bull runs. Institutional investors showed picked up interest in the crypto space as Grayscale raised $900M in Q2 (its ATH quarter since inception). Institutional traders on CME remains undecided for the mid-term, and there are no clear signs of bullishness for the coming months. 2. Miner action: Both hash rate and difficulty have recovered, and miner capitulation has ended. With miner capitulation historically marking market bottoms, this is a bullish long-term sign. 3. Market Sentiment: Overall market sentiment is bullish and potentially overstretched. The seller group is selling in profit and the seller group only market sentiment remains in a bull trend. 4. Margin Market Actions Potential long squeeze alert in place. This is bearish for the short term. Key Technicals: 1. Key resistance at 10.4k 2. 5 Elliot wave to the upside is finishing 3. RSI hasn’t shown bearish reversal signs yet: 2D – broke the bearish trend; 1D – bullish; 4hr – developing bearish divergences in the overbought region. This is extremely bullish from a RSI only perspective as multiple bearish divs can keep on developing with price making new highs. In this type of situation, the key is waiting for the MA failure (instead of bearish divergence) for a trend reversal identification. Do you agree or disagree? All thoughts and critics are welcomed! ================================================== 🌐 We believe in the power of blockchain data analysis! ==================================================
COINBASE:BTCUSDShort
by Phi-Deltalytics
92
Welcome to the new channelAlright people, now we can say that 10500 is our new bottom line and 12k is our top :) congrats. So lets see what do we have here. Fist of all I can see a bearish divergence is forming here, and by my strategy we should touch on 11800 ~ 12k again. There is a possibility here, breaking resistance by rsi! if you see a breakout out there, it means 15k is coming ... On the other side you can easily guess that what I want to say! we should check ichimoko cloud one more time. So I recommend you to enter long above 12200, and enter short below 12k to 10500 area again.(when im talking about an area, I mean a 300 pip, so its possible to see a support on 10800) If you liked it, please hit the like button, share and write your comments and follow me, thanks for reading. Take care, trade safe and GOOD LUCK(ALWAYS WEAR A FACE MASK!).
BITMEX:BTCUSD.P
by AminHa4
False Breakout ! July 28, 2020We have seen in the past that BTC has a wild behavior and loves to trap longs and bag holders at high prices with false breakouts ! We are facing a resistance @ $11534 ( August 5th 20219) and 0.618 fib extension sits right around $11950-$12100 level ! The whole world has gone bullish once again and the worst is yet to come ! There is nothing but bad news for the world economy and If you are thinking this market is going to the moon you are wrong ! This is all about liquidation and you will always get cheap prices so you can invest and get liquidated again! Our price Target for bitcoin remains at $6400, $5300 on both daily and weekly chart! It can come now or later ! Be patient and don’t fomo at the top !
BITMEX:BTCUSD.P
by WinXSell
8