Get started

Bitcoin / Euro

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Markets

BTCEUR trade ideas

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!
by egilagre
The two most two likely scenarios for BTCSince we closed above the 2019 highs, it is very unlikely that we fall back below that levels again, at least not in the immediate short term. It seems obvious that we move higher. But it would be equally unlikely that we wouldn't re-test those levels in the near future. The question is now, from where we might retrace. The RSI is still looking good and leaves more space to the upside, so from my point of view, scenario B seems more plausible. Looking forward to your comments.
Long
by senolito
BTCEUR - A possible downtrend long before new ATH Good morning traders. Leave a like or comment if the analysis can be useful for you. I worked on a one-day timeframe to analyze the main long-term trends that have accompanied BTCEUR since 2017. The thick blue trendline highlights an important long-term uptrend although, following the bubble burst in December 2017, a symmetrical triangle formation is easily identifiable. The pattern breakout in July 2020 has charged the BTC maximalists with hope for new ATHs. Even if this were to happen in the future, evolution appears much slower than one might imagine. After hitting €10.400, the BTC price has returned to just above €8.300 to retest FIB 23.6 and form a reverse cup and handle. In these days we have returned to talk about the Mt.Gox hack as a document from the Tokyo District Court dated June 30 indicates that a decision on compensation could soon be finalized and sets October 15 as the final date for receiving a rehabilitation plan that will allow victims to receive compensation. However, October 15 does not have to be the big decision day. Thus, the extension refers to the presentation of the rehabilitation plan and not to the reimbursement of the BTC: the trustee only has to submit a plan by October 15. As a result, it seems at least likely that the 150,000 BTC of the Mt. Gox trustee will not reach the markets in the short term. In the medium term it is therefore more likely that, unless extraordinary events would upset the market, the price will retract towards FIB 38.2 and then will try to rebound. A drop below the €8.000 threshold could however push the price towards lower levels and reopen a new long downtrend.
Short
by wanderlust_87_