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BTCEUR trade ideas

Scenarios for Bitcoin in the rest of 2020 (1W)There are 2 main scenarios I see come to reality with Bitcoin. Looking at the past these are very realistic scenarios backed by facts. Note that my analysis is straight forward backed by this chart and neither bullish or bearish. However I added Long to this analysis because at typing of writing I reopened 2 long positions in DOLLAR & EURO: 7970 USD & 8030 EUR. If Bitcoin gets rejected at €9K on the weekly this could very well start a new trend on daily timeframe. A downtrend towards a small demand zone of €7,3K - €6,8K which it will very likely will break. The main demand zone which has competition with bulls is €6,8K - €6K. If the demand zone gets a breakout back down, €5K is almost surely the end of this trend of reversal. 200EMA will be around that point in time on weekly and as shown in the past even with COVID19 shows a strong support level. €5K was the main support level of 2018 where price bounced several times and acted as huge support. In my analysis I see a low chance Bitcoin will hit any lower than €5K and thus bottom is reached. If a new uptrend emerges starting off 200EMA on weekly you can expect a very volatile uptrend and will quickly recover towards €5,9K - €6,8K zone. Next up is strong pressure from bears of upper side of bearish triangle, bears might push price back down at €8K level depending where we are at the time. Anyhow this will be the 5th retest of this resistance level and thus a very important retest. If this gets rejected this wouldn't be very bullish. If Bitcoin breaks triangle to upside, a new uptrend commences. The triangle is a big formation where bulls and bears where fighting. I don't see price being pushed down after breaking out of this triangle. A retest should be traded as this could be the last stop to hitting the last somewhat zone of supply €9K - €10K. A very physcological level of supply where Bitcoin might hang and use as consolidation zone. If Bitcoin continues to stay bullish after all this time it might go on its way to an ATH which is definitly a possibility. Depending on volume traded rather than volatility. I don't see any likely chance of hitting a new ATH in 2020 yet. €11,5K could be the high of the following months where price might get rejected, not consolidated, atleast unlikely . Good news is needed to back up this analysis, FOMO is a must in the end of 2020 or beginning of 2021. This would be a repeat of the scenario in the end of 2017 and beginning of 2018. As seen with previous ATHs, the ATH happened around 1 year after the halving took place. The first halving which happened on 29 November 2012 had a bullrun towards an ATH with a return of 8069%. The second halving which happened on 9 June 2016 had a bullrun towards an High with a return of 289%. The third halving will happen at an estimate of 12 May 2020 at time of writing. The price could likely be already priced in by some, but I, on the otherside think otherwise. This could be just the very start. Breaking this triangle and following this uptrend for the rest of the year would be the best bullish scenario I hope to see, yet still realistic. Since federal Reserve started pumping stocks and other markets with printed money, Bitcoin was stated as a safehaven and alternative currency in media and news sites. Bitcoin continued it uptrend longer than expected by most and climbed towards €8,5K level where we are now waiting and consolidating on lower timeframes. With the halving in sight this is only good news following up on eachother. I want to end this idea by saying that corrections are healthy and needed in healthy market trends and don't always mean reversals.
Long
by jonathanvn
Possible BTC Scenario next 2 months aheadI hope this information can help you to dont forget the Long term View in our Market. With our current Market Enviroment the posibilities to Break to the upside are more likely (FOMO). A Break of the Current Support level at 6k, will bring us to the next Support on the Chart. Having the Halving Event coming up will probably move the Market to the T1 SMA200, after a Capitulation of miners, (end of May, June) a movement to the down side its likely to our Current level again, finding support and starting the Bullrun to T2 8000 price levels. Any toughts feel free to share it. Wishing you a sucessful Trading Javier P.
by javierpedrozab
Small thought and notionHello beautiful person! Hope you all are doing great today and did you manage to collect some profit during this approx 10% price movement of BTC? Just wanted to pop in quickly and share a thought I have on current market movement, because I spotted an very small divergence on the RSI on 4 hourly chart. If you are in the market today or are ready to commit to some trading, please take a closer look into the indicators and the news to re-check your strategy; just to be sure. After the initial spike of buy order, which happened within a 4-6 hour window, the market has been horizontal, but the RSI is pointing downwards; which could indicate a change in trend, or just due to "white noise" in data. I switched to Heiken Ashi to see if the divergence changed, but it did not. Overall market cap has not increased much over the past 7 days that comfortably describes the sudden spike of buy orders that got us to the price level we are seeing today. That combined with the overall trading volume afterwards have not increased either, the question then remains: will this price level hold? Summary spotted a small divergence on RSI, that could potentially indicate a trend reversal. The rest of my momentum indicators are still showing strong continuation of current trend. Volume and total market cap is not much changed. Be cautious and re-check your own charts and indicators before trading. PS Seems like the Alt-coins are getting some price and volume increase, for those of you who are interested in that market. Stay safe, and keep on doing great things!
by egilagre
still within expected rangeHello hello wonderful person! It has been a while since my last post, but to be frank; nothing much has happened with BTC and market outside of what to be expected. If you see the chart I present here, it is the same as my previous post about 2 weeks ago and it still holds water; which is good! Short summary of my thoughts on TA for BTC/EURO: The price is still within the larger trendlines (triangle) as shown in the daily chart, with great room to grow. I spot no divergence on RSI on daily or 4 hourly, which could indicate no clear trend reversal. Coppock curve is very close to 0 in daily chart and 4 hourly on the negative side, which is not comforting. I would like to be at least above. Seems to be a horizontal trading with average trade volume and not much momentum. Conclusion The stock market went up, not suprisingly, but BTC followed which was somewhat suprising to me. Whilst gold and other precious metal were having steady trading and some instance a short decline, the stock market went up and BTC went up. That can be interpreted that BTC is following more the stock market rather than the gold, which threatens the digital gold claim. It will be interesting to see what BTC price will be doing when gold and other precious metal increases even more in value and stock market declines. As I have stated previously, I do not believe that we will have a V-shaped recovery but rather see more declines in stock market, second wave as I called it. This will be seen when more consequences arise to the surface from the lock-downs, along that the initial helicopter money will not have the impact it was meant for and more money is printed. So Why I am talking about the stock market for BTC? I believe they are interconnected, and further declines will impact BTC price as well as the value for gold will impact BTC. How? remains to be seen as we are moving into unknown territories; but I am bullish on the BTC. I think we will remain within the triangle in the chart for the better part of this year, which means we will have rallies and declines. If you have the will and guts to trade in these times, there are money to be made; but be cautious. And with that, stay safe and do not trade what you can not afford to lose.
by egilagre
1
SCAM WICKS TO SQUEEZE SHORTS - PROOF WE ARE ON THE RIGHT SIDELook on bitfinex on the Eur. The price already hit the 100 hourly MA. Volumes were also huge. On bitmex the max price of BTCUSD was 7028, while on Kucoin it never rose above 7000 (the max was 6995). I do not want to do any endorsement for good and bad exchanges, but just look at the levels. Remember that exchanges have full visibility of your stop losses, so always be conservative with leverage and levels! This is the proof that the direction is down, and these levels are great to open the short, if not opened yet
Short
by edutradinguru