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BTCEUR trade ideas

Take a deep breath!Hello beautiful person! Hope you had a great weekend even through this harsh weather in Crypto. There is much FUD (Fear, Uncertainty and Doubt) even though we have still an amazing run upwards from just January. I know that the 2017 sentiment is still strong and everyone is looking for a potential bear market like we saw back then. This time might be different, it might not be. We are in a very volatile period with the pandemic and printing of money and Stock market bubble and just unrest amongst many. This will impact Crypto one way or another regardless on how strong the fundamentals are on Bitcoin. Just want to stress that do over extend your investment, meaning: "invest with money you have, and are OK with losing". Please be careful to the notion and feeling of trying to take back the loss you have endured so far, that is a slippery slope. Stay safe out there, and do not panic!
by egilagre
XBTEUR - What will happen next? - MTFA"The only thing I know is that I know nothing" - Socrates What will happen next doesn't matter, what matters is your strategy and how you can take advantage of price actions. Let's have a look at Bitcoin market through different timeframes (M1;W1;D1;H4) Starting by the monthly chart, we can see that BTC is in a long-term bullish trend since 2013 and is as of today in an overbought situation. On the weekly chart BTC is also overbought but what is interesting to see is that the RSI level of 80 was broken in the last downward movement. This level of 80 use to be an important support to the mid term bullish trend since the beggining of the year. But for me the best is yet to come on the D1 and H4. The daily chart is showing us that when BTC crossed up the RSI level of 50 (neutral zone) during October 2020, it kicked off the current bull run and since then the neutral zone use to support the trend and indicate higher low points. In the past days, this crucial level of 50 on the RSI D1 broke, validating a huge bearish divergence on the D1 chart (while the price formed a lower low point after breaking the trendline in green). However, as of now on the H4 chart, we can see a pattern of indecision (triangle) that started after the drop below the trend line (in green in the D1 and H4 chart). Will the price cross up the triangle? Will it cross down? Nobody can predict it at 100%. However, what each trader can do is to have a defined strategy that takes into account each probability. My primary scenario is bearish, due to the validation of the bearish divergence on the D1 chart, in an ouverbought context on the long term charts (M1,W1). If the price cross down the triangle pattern, it could lead me to open a short position. However, this primary scenario could be invalidated by the bullish divergence on the H4 chart, that could lead, if the signal is validated (by crossing up the RSI level of 50 on the H4 chart) to a new high point (Lower high or even new ATH on the D1 chart). In that case I would wait for more signals before opening a long position. This was my first post guys, hope you enjoyed it. PS: This is NOT an investment or trading advise, just my opinion. Brindfrappe
by Grz77
1
Bitcoin Simply Thought - BTC Price AnalysisHello dear readers, I am a big fan of keeping the chart simple and clear. I think there is a common thread in every chart. Of course, there are hundreds of analyses and approaches for one and the same situation. But the intersection, that is, the overarching direction of the market participants is particularly interesting. It is like a primary trend (not individual), with the corresponding outliers in the secondary trend (individual opinion). To recognise this intersection, a clear analysis is often better in my view. The obvious factors will have the most influence, and not a swing in one of x indicators. That is why I have kept this BTCEUR analysis very simple but relevant: - The primary trend continues to move bullishly in an uptrend channel. It is always more likely that a trend will continue than that a reversal will occur. . Accordingly, there is no good reason for this corner to believe in a trend reversal in BTC as long as the trend channel with the D-Close can be held! - On the contrary, the price is currently at an entry point from the perspective of the trend channel. - Resistance becomes support! After Bitcoin first failed very frequently at the horizontal resistance zone marked, it finally managed to break through. A resistance that can be overcome becomes a support. As this resistance was very strong, I also estimate the support to be strong. Conclusion: - The market structure remains intact. - The price is at an exciting entry point. Support here is provided by the trendlines and the horizontal level. - The price target looks realistic, a sensible SL enables a trade here with a CRV of over 4. - If the trend channel is left with the closing price, I end the trade. As always, it is "do your own research" - I am not an investment advisor and this analysis only reflects my personal opinion and is not a call for individual action! If you want to support my work I am happy about a Like & Follow 🙏 Best regards & success! Chartdigger
Long
by CRV_Trader
1
BTC: Obstacle ahead....will go throughAlright, so the ultimate target is 125000€, but before that, BTC has a challenge to overcome. We're in the final wave of a cycle started in 2011 (I know, this Kraken data goes back to 2013, check Bitstamp) and there still is room to rise. However, this summer should see a chaotic time with a drop from an expected top at 66700€ down to a first support at 38000€. A word of warning on this expected obstacle: - wave 2 of (3) was shallow...so wave 4 of (3) could be deep and that leads to an intermediate trough at 29000€ minimum. Humm, I don't like it, don't want to believe in it! Anyhow, current trend is in a wave 3 of (3) of so higher highs are expected towards the end of 2021. wave (4) of is expected by mid-August.
Long
by djahma