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BTCEUR trade ideas

New horizontal trading period?Hello Hello wonderful person! I have never been so: excited, eager, anticipating and disappointed at the same time;since..... I saw the last Jedi on the cinema. This market is really putting on a roller-coaster of emotions in me, and I have been in crypto since 2016; so I have been on a couple of roller-coasters :) Most of the countries hit by the covid-19 breakout have now started of planned to start HUGE monetary actions to keep the markets running and enabling companies to hold on to their employees. Now, how this looks like in detail will depend on each country policy. However, there is probably one common denominator: printing a sh*** load of money. There are in times like these that assets such as gold is more or less "safe-haven", and where does that put "digital gold" BTC? No one really knows, cause it has never happened before like it has now. Changes on the chart: - Added new support line at the current price range 5795 EURO - zoomed out to show former tested points on that price range. - Coloured the other support and resistant lines blue and red, to better differentiate the new support or resistant line at 5795 (remains to be seen). What now? The current price range is hovering around a well tested level, and last time we went there was in 2018; whilst we traded horizontally for 3 or so months before dipping down to around 3000 EURO area. We might start trading sideways in the same window and almost same manner. BUT personally I do not think these resistant and support lines will hold for long time. The reason I say this is that this increase in price, comes awfully close to the news of monetary action/help from countries, before we even have seen the real results of it. I believe that the worst toll on the market from this pandemic outbreak has not yet been seen, and we still have more market fall to see in this year; maybe start seeing more of this in 2-3 months. On the other side of this, we have the money press at full speed. This would probably make gold and other valuable assets go up in price, and BTC might go up along with them (since it is decentralized and not connected to any other assets or currencies). If I were to guess a time span on this to happen, it would probably be more in summer or early fall this year. Depending on how successful the monetary actions from different countries will be, So what I am doing in all this? Trying to be cool, with a little more of my savings into an exchange, and ready to fire off those buy orders. PS I just sold some STEEM to book profits, and to have some BTC ready that is held for buying some ETHER. As always, stay safe out there and use your logic, not your feelings when trading
by egilagre
DFT hourly mapping - Most likely shortObservations: -The red clouds are most likely FOR NOW to cock block any attempt to go through this red storm. Wait for neutral or green clouds to appear in the long term trends (supply turning to demand). -The hourly medium term investor trend turned its resultant to buyers area despite a descending trend.This should be breakable but didn't yet. => I recommand for people OUT to not FOMO now. => If 4550 euros doesn't hold in min15 closure. I recommand a short to 3880 euros (next demand support). Stay safe, set up SL. Gl
Short
by Mr_Gesier
(W) - BTC in Symmetrical triangle + Possible Bull flag?What most people don't realize at times like this is to zoom out and check the bigger picture. This is the weekly chart of bitcoin which show a symmetrical triangle formation and possible bull flag. Also note how the volume is slowly lowering since the kickoff of the bullish run. In the shortterm bearish scenario: My first target is going long 6500-6700 My next target is going long 5300 - 5500 in the shortterm bullish scenario is going short at 9000 and 9500. In my eyes confirmation of a continued bull run would be a higher top than the previous one with good volume. Like for example a strong close with not a huge wick above 10k. These are very safe entries looking at the chart now if the volume keeps the same.
by jonathanvn
2
Theory of Bitcoin fallHello Beautiful person! I have been thinking about reasons of bitcoin fall and been watching "experts" on stock market, to see if there are correlations. To set the stage a little, let me just summarize the reality we are hitting now: Most of us are aware that the stock market is overpriced/overvalued and possible a large bubble Some of us have foreseen that this bubble will not hold. The Covid-19 acted as a catalyst to the above mentioned points, and then some We are only in the beginning phase of whatever you can call this: strong correction or recession. Many people thought BTC to be digital gold, and why is it falling Gold and other precious metals are also seeing a drop. So what I have learned is that during a market crash or strong correction, investor usually follow one core principle: Protect your asset/money. In order to protect your assets:, the first to be sold is volatile assets. Then sell off assets that you "know" are over valued (tech stocks) Then you need to cover your losses by selling assets that have yielded great results, aka book profits. The 2 last steps are perhaps the major steps that throws us off when it comes to logic :) Why sell off assets that are strong and still have a good future? To book profits and protect your assets so you can stay in the market for longer time. Bitcoin, sadly, covers perhaps all the above bullet points: Volatile, tech and performed great. It is only logical that BTC will be hit hard, given above mentioned arguments are valid. All I am trying to tell you, my fellow traders and BTC fan is this: Think twice if you believe that this fall of BTC price is a result in no belief in BTC. There is a logical reason behind this fall, that is not necessarily connected to the end of BTC or lack of belief in the asset. PS Looking at the chart, it might look like we are heading into a sideway trading between the support and resistant line. DS Stay safe out there and in these times: be sensible!
by egilagre
Bottomless or reached bottom?Hello there beautiful person! How are you all feeling after a red week in stock and crypto market, with still even more red day today? Are you looking for buy-in, or selling to cash out? On my part, I did not expect this heavy drop in crypto this fast. I expected a drop, as I do with gold price before it goes up, but not this fast and so hard though. BTC/Euro is at a very interesting point right now at 5044, and it crossed a very large support line at 5268. The million dollar question is: will the price hover around that major support line or not? Next support line after 5268 is 3680, and that is the support line I think is the most likely bottom. However the optimist in me tells me that 5268 is the lowest low we will have this time around, until next bad news comes our way. Personally, my buy order got activated around 6500 so my cash is spent; and now it is time for me to watch this unfold. Wish you all a safe week, and dont forget to wash your hands well.
by egilagre