BTCEUR trade ideas
So Yea I think it`s going to dump nextJust some parralel lines,fib levels and support&resistance levels.just a beginner and this is what my chart looks like.
A picture says more then a 1000 words
www.upload.ee
If you find it useful at all hit like.
Consolidation Area In the last month, BTC is in a consolidation area. The trend can be characterized as a bull due to the fact of positive EMA(20,50,200), but nothing can exclude the potential of an abrupt reversal.
Hint: it perfect time to consult the Bollinger Bands.
False breakout BTC had the 4th false breakout last night and lasted less than one day from the long term downtrend support line on weekly chart. That’s bearish indicator to see 4th false breakout. I still don’t see the possibility to break from the very long downtrend on weekly chart. Saying so, I’ll keep monitoring to see a stronger breakout on weekly chart to confirm uptrend.
Next is a break out regardlessHi there wonderful person!
So, next week we will either breakout on the upside; which means that the price breaks the long tested triangle.
Or we will break out on the down side, which means the upward trend is broken and support line of 8058 will be re-tested.
It is not unthinkable that we could revisit the 7772 support line, if the 8058 does not hold.
Personally, I am eye-balling the support line at 7040 for an entry, but will see if I am not dollar averaging something in on the 7772 as well.
A short message from me today, but wish you all the very best and as always: stay safe out there!
Bitcoin Diamond....but not that shitty coinI know some chart formations, but could this be the rarly seen diamond formation ?
I was one of the #coinvestorarmy I NEVER WOULD SHORT BITCOIN, not for a minute, not for a day, but if this is a diamont formation, we can but some more cheap coin
Learm more about the diamont formation:
www.investopedia.com
Invest smart !
I need your helpHello, I would like to reach level 5 reputation in order to be able to chat with others on live chat so that I can learn and ask the right questions. So I made this chart, but I don't have a lot of knowledge. This is why I would like to be able to chat with other traders on live chat. Thank you .
RENKO TURNING REDBreaking 100D EMA on Renko chart will certainly activate many bearish signals ...
Let's watch this one carefully.
This is tense, but probably going to dipHello wonderful person!
It has been a while since my last post, but nothing fundamental has really changed. We are still within the triangle,but in the upper region none the less, an overall upwards trendline is still holding.
What is really interesting now is if that upper trendline (marked in gold) is going to hold this coming week.
Changes
Added trendline on RSI, Stoch and CCI
Added VPVR
Conclusion
The RSI, Stoch and CCI are showing some signs that the momentum is not that strong, and in combinations with the stock market; I believe we will see a dip in the BTC/Euro price.
The dip will retest 7038, and let us see what happens after that.
when it comes to my own plans in these times, nothing changed from my previous posts, I have already liquidated some parts of my BTC holding in waiting for a dip, and I am patient.
Probably will pick up some at 7038, but checking to see if it holds before entering.
I have been writing about a second financial wave (downward wave) coming, and still believe it is coming and we are seeing the very beginning of it now.
Since BTC has not yet been decided as a safe hedge, I do not know how BTC will perform during the second wave; but I believe BTC will rise after the second wave has washed over.
PS
For you guys that are going nuts about the behaviour of the stock market, and it is not really acting logically to what is happening in the market. Prices not reflecting the actual market, gold going down, companies that are hit hard by lock-down are still having increase in stock price, etc...
There are three things I have noticed that I want to share with you great guys, and take it for what it is; just a theory!
Traders selling good performing stocks to cover their losses . One of the cardinal rule in trading is to be in the market one way or another (can be in currencies or other assets). One way of doing that, other than bringing more fresh cash, is to sell assets that you have profit on to cover the losses you had. You never know when those performing assets go down, so it is important to take out profit when you can. This can result in safe harbour assets such as gold can drop in price, or hot bio-tech companies drop in price.
Fund Managers are obliged to rebalance their portfolios to keep the asset allocation and exposure to risk correct to their fund profile . This is kinda related to the one on top, but fund managers sit on HUGE amount of value and when they start to rebalance their portfolios to cover losses or to keep true to their fund strategy, it can really affect the price in markets. What is fund strategy (asset allocation) to do in this? well, let us say that a fund has a strategy to be in 60% stocks and 40% bonds. If that fund have hit a golden goose and have great return on some stocks, it will have to rebalance in order to keep within 60-40 strategy of their total asset holding value.
Stock market is based upon beliefs and feelings, and not logic. Also it is not reacted to the current time, but what they expect in future. The market is a place for feelings, and additional guessing what will happen in the near future or long term future. These estimation of the future will constantly be re-valued by the current news but will not necessary act on it the way it logically might seem to be doing.
Monetary stimulus like new money being printed and thrown into the market like in US. The Fed buying up all it can, regardless if it is a fallen angel or what have you. This will give impression the market is holding, when in reality it is a facade.
As always guys, stay safe and may the trading be with you!
Bitcoin, where to stack up + important levelsIt all started with bitcoin, but it will not end with bitcoin.
getting this out, I see bitcoin getting pretty bullish in the future.
As I have most of my assets in altcoins, i'm looking to get a little bit more of the digital gold to.
In this Chart you see where I will be buying/selling.
Let me know what you think, and if you're also stacking up, leave a like!
BTCUSD in 2 month cycle below 2000 soonThe most possible scenario is a crush of markets in next months resulting to crush of bitcoin as of it became just another speculation object and have nothing to to with initial idea of currency for crisis.
The break out of formed triangle is usually a crush which will lead to prices at next support line from May 2017 arround 2000-2500.
RETRACEMENT FIRST...Before breaking out of this structure, there is a high probability of re-testing it's lower levels. Few days of support has this evening been broken, now we are witnessing confirmation. Target in the green box.
Looking to the past to guess the futureLooking to the past we have repeatet stronger downtrends for 2 to 3 weeks (red lines). The special situation in March 2020 was causing a dip twice as deep. Continuing this pattern I come to the conclusion that we are at the next itermediate bottom zone beginning June (first half of the second week if I should bet now). There is a small chance that we might go deeper the weeks after.
Just another guess, nobody should listen to me.
Bearish on 1 W chartDo you know what this chart is saying on 1W period? It’s saying watch out, we might have reached a strong resistance level at around 9200 euro, for third week unable to break it. We reached the upper bank and we might have started a down trend. Keep an eye and secure any open position.
