BerlinTrader591

BerlinTrader591

The 60 minute chart is showing a great quick bullish trade in Bitcoin. The head and shoulders failed to breakdown and now price has rebounded back above the neck line at 4250 Target is former highs at 4440, a nice 5% gain. STOP Below former neck line, below 4250

BerlinTrader591

I already posted a chart predicting an Ethereum breakout, but I really think we should keep our eyes on this ETHBTC chart to look for hints on an Ethereum breakout. Ethereum was very strong against Bitcoin until June. But since then, it's just slowly descended until finally beginning to flatten out around .07 If we can hold this present level, which is trend...

BerlinTrader591

Watching this beautiful ascending triangle form on the Ethereum daily chart. We had those two highs kissing 400 in June and September, but the crash after September only hit a low of 200, putting in a higher low. We draw an ascending trend line support connecting the lows in May, July, and September, creating the ASCENDING TRIANGLE pattern. An ascending...

BerlinTrader591

On the 60 minute chart, we can really see that 4000 represents the halfway point, the 50% line between 3000 and 5000. Above 4000, we are slightly bullish. Below 4000, we are slightly bearish. Overall we are bullish because the trend for months and years is up. But if you are looking for a trade more than just a quick day trade, then you can do a few things: 1....

BerlinTrader591

I want to analyze a few Alt-Coins here, and see if any patterns are worthwhile. On the daily chart, we see a 5 month long sideways pennant flag consolidation pattern. This is a great example of an alt-coin that seems ready to breakout again if more money flows into crypto-currencies. HOW TO TRADE: LONG: above 6.50 which would represent a breakout of the pennant...

BerlinTrader591

TECHNICALS: A great example of an ugly chart. Bitcoin Cash perpetually careening downhill on the 60 minute hourly chart. 200 day period average sloping down, price continuously making new lower lows and lower highs. Momentum is pointing lower. This is the definition of a downtrend. This is not something we want to buy into. It's something you want to stay...

BerlinTrader591

Textbook Reverse Head & Shoulders Pattern here on Ethereum 60 minute chart. Head & Shoulders patterns are reversal patterns. They show a trend changing course and we use the neckline as our entry signal. When price crosses the neckline we enter with a stop below the neckline. Entry above neckline 295 aggressive /300 conservative Target around 315 (measurement...

BerlinTrader591

This is a great example of the 1-2-3-Breakout pattern on Bitcoin using the Daily chart. This pattern can be applied to any equity. Chart patterns represent human behavior and that is a constant among all asset classes. Point 1 - The First Test - The New High Price reaches a new high and pulls back when investors take profits. Price falls. Point 2 - Second...

BerlinTrader591

After everyone took their profits and then the financial media was quick to herald the end of Bitcoin, we saw a bounce at 3000. And oh what a bounce, the biggest 1-day volume (number of trades) in history. Look it up, zoom out, and you can't find anything close. This doesn't look bearish to me guys. That looks BULLISH. Huge volume on an up day means a lot of...

BerlinTrader591

The STORY and the SPECULATION: With all the doomsday pundits on the news, the big wigs of finance, and mainstream financial media callilng for the end of Bitcoin, you might think it was the end of the world! Remember folks, we hit ALL TIME HIGHS of 5000 a few weeks ago. ALL TIME HIGHS are not a sign of a downtrend, or a sign of a bear market. All time highs are...

BerlinTrader591

PRICE IS KING: I removed all my indicators for this analysis. I just want to focus on price. Price, after all, is king, and every indicator (RSI, Money Flow, moving average) is just a derivative of price. Price is also a reflection of supply and demand, and the human behavior (fear and greed) behind supply and demand. PRICE HAS MEMORY Sometimes price has a...

BerlinTrader591

THE PRICE ACTION SOFAR: Bitcoin peaked at 5000 and immediately fell 20% in a few days to around 4000, where it has bounced nicely. MY THESIS: Overall, I think it will take some time to break the big 5000, but until then I have predicted a range bound trade between 4000 - 5000. THE PLAY: Playing the range means buying around 4000 (or more aggressive around 4500)...

BerlinTrader591 Updated 

We have had a lot of false breakouts on Bitcoin Cash. But this pattern is very clean for once. I've been taking profits early and keeping my stops tight. But this channel that has been going on since mid August has finally broken out to the upside. It's a good sign. If we can consolidate and continue going up then it's for real. But so far, every breakout has...

BerlinTrader591

The Daily PIVXUSD is CERTAINLY my favorite chart right now. As all the other coins have fallen along with Bitcoin, PIVX held up nicely. The levels are clear here, and clear levels are the most important thing for good analysis because we know our stops and targets clearly. If this thing gets moving, it could easily 2x, 3x, or 10x it's price. We had a huge base...

BerlinTrader591

It's easy to say, but hard to pull the trigger, but if you an PLAY THE RANGE, you can make money in a market that is going sideways, like we see in most cryptos at the moment. BACKGROUND: In all the coins, we had a big run up following Bitcoin's lead, which hit 5000 and had a significant pullback. Now most coins have found support and they are bouncing. NEW...

BerlinTrader591 Updated 

Sorry for the delay. I've been hiking in Iceland. Well guys, it was a great run from 4500 to 5000 in the last few days, and just as I said in my previous posts: "We should see some profit taking and a pullback at 5000." Price crashed quickly and sharply after reaching 5000. A lot of profit takers were waiting for that moment to press the sell button. Faster than...

BerlinTrader591

I really like this PIVX chart on the 60 minute. PIVX is one of the coins acting strong against both the USD and Bitcoin, and strength is good for bulls. It reminds me of Litecoin's upward trending channel that recently exploded to the upside. I expect price to continue in this upward trend with a target around the former highs of 4.50/4.60 Longer term on the...

BerlinTrader591

Great XMRUSDT Breakout here on the 60 minute chart. If you check out the daily, it's a nice flag pattern. We could see a big run here. Entry: above 145 First Target: Depth of channel, around 165 Stop: Below 140 This is a simple pattern and simple analysis.