BTCEUR trade ideas
BTCEUR 17 NOV 2020 0004hrsWaiting for pullbacks as per sop. Uptrend. Nearing a previous resistance (red horizontal).
Avoid buying when SM is selling. Where might SM sell? Resistance, Supply zones, untested new high ground etc.
Buy low/sell high.
Massive breakout, new fib retracement drawnedHello Wonderful person!
We saw a very good break out and turned the resistant line in to proven support line, which is awesome!
There are a couple of concerns with some indicators that momentum is fading off, but lets see if there will be more strength added this week. (dont forget to check the RSI).
Interesting pointers are the new fib retracement that almost perfectly matches the new support line, and the current trendline is holding.
It is not unheard of that we might see a correction down to the next trendline, around 12500 Euro.
BTC Near Term Looks like momentum is slowing down based on lower highs on RSI (4 hours) and backtesting previous patterns on the 4h chart.
I'd expect choppy action to continue for while (further relief for ALTS), followed by a sharp 20% selloff as soon as price converges with the 200 EMA.
2 levels I'm looking at are €11500 and €10600.
(Not financial advice. Just some ideas. :)
Break trendline or break resistant line?Hello wonderful person!
Now it is breakout point one way or another.
Either the current trendline will hold and the resistant line is broken.
OR current trendline is broken and resistant line is holding, which means next price is 12200 Euro; but might bounce at 12950 Euro (depending on the strength)
My indicators point more towards a correction, and we will bounce at 12960; and might continue to the next trend line at 12200 euro.
Have to wait and see what the indicators tell at that time.
What is yours?
As always, stay safe and sane,
happy trading all!
btceur 50 days of bitcoin being above 10000 ends 10th decemberLast times Bitcoin were above 10 000 it was no more than 50 days.
This time the 50 day period ends on 10 december.
If this will hold most possibly we will have a new rally to 40 000
Otherwise the crush to 4000
Current Trendline closing in the tough resistant lineHello wonderful person!
I am trying out a new way of delivering messages in the articles by having more text and symbols in the chart itself rather than writing them in the article.
Hope it will be a more efficient way, but I am open for suggestion in the comment.
Small conclusion about a key factor I am watching now, is the wedge between resistant line and the current trendline.
One way or another, we will have a breakout from this in the next couple days (within this week).
As always, please stay safe and sane in these times and happy trading!
BTCEUR - break-out from bullish triangle 15.4k as targetWe are currently retesting the top side of the triangle at 13350€. Waiting for a confirmation above 13400€ with sufficient volume to open a LONG position. This break-out could lead to a continuation move to 14400€. If we break to the downside, we will have to re-evaluate the situation.
Good luck! And of course, this is not a trading advice.
correction to 12000 euro?Hello wonderful person!
Incredible rally in the stock market due to vaccine news, and this might hold up to end of december.
Bitcoin reacted as with gold, it took a hit.
Based on the chart, there are some spinning top and a doji forming, which could form a correction.
If that happens, we could look at a price target at around 12000 euro, and if it is still a bull run; this will hold.
If that 12000 breaks, we are looking at a further decline to possible 11000 euro.
SoonThat thing with flags.
DOnt know it volume needs to pick up, or MA Cross needs to do X one more time. but in next 4-5 hour?
MASSIVE BULLFLAG ON BTCEUR WITH HUGE FAKEOUT!!IF WE BRAEK THE STRONG RESISTANCE, WE COULD SEE A POSSIBLE PRICE TARGET ROUND THE €3600.
Reputation points needed to participate in chat
Hello everyone,
I joined tradingview a few days ago and just want to get some points so I can join live chat as this are very exciting times for crypto and BTC especially and as a complete noob I have a lot of questions which I would like to ask in chat on the go, to help me better understand price movements. Wanted to attach an image of my current "analysis" or rather practice of predicting BTC-EUR direction, but it wouldn't let me... So maybe next post.
Thanks and have a good one!
Edit: Just saw that it does attach my chart also, so yeah. #first_post_problems
RSI Divergent, is BTC in for a correction?Hello beautiful person!
I am up tonight watching the U.S election and witness live the effect it will have on the BTC during it.
If you have read my previous posts, you know I have been writing about a second wave of the virus and lockdown; which will in turn affect the market negatively. I expected the second wave and more effect in September/October, so it seems I missed it there in months; but at least in Europe we are in a new lock down.
How will this affect BTC?
I believe that BTC is still correlated to the stock market in the sense that when we have a sell off in the markets, we will also have sell off in BTC.
However, BTC will gain again shortly after.
Short term bearish, long term bullish.
- check the chart for more info and trend lines.
- check the divergent in RSI.
- added fibonacci retracement indicator for the last "bull run".
Have a great night everyone, and stay safe!
