Trading_Cipher

Trading_Cipher

***Welcome crypto community, I do daily Bitcoin/Ethereum review here, please follow, like, provide your feedback. Also if you have other chart requests please let me know*** After completing morning star on a daily charts, Ethereum still has very important resistance to cross. Let's see how things unfold in next few days. If you're waiting to buy into Ethereum,...

Trading_Cipher

**Welcome crypto community, I do daily Bitcoin review here, please follow, like, provide your feedback. Also if you have other chart requests please let me know*** Ok so as mentioned the day before yesterday, we were likely to break out in a couple of days, and so far Bitcoin is holding well. $35400 appears to be really good resistance and price is currently...

Trading_Cipher

***Welcome to daily Bitcoin analysis. I do daily BTC review and try to provide my unbiased TA. Please let me know if you have any other chart requests*** So we have got a really nice push on bitcoin yesterday by bulls. It has taken out the last three days open, haven't taken out the highs yet. But looks like it will eventually do it today or tomorrow. I have...

Trading_Cipher

This is pretty much a self-explanatory chart. Last couple of days all supply has been absorbed by buyers showing good demand at this level. We have recommended buying the first retracement, which is working out well. Those waiting to get in, can get in now with SL at $32,380 . . . PS: This is not financial advice. DYOR

Trading_Cipher

***Welcome to daily Bitcoin analysis*** After 3 daily green candles, we had anticipated a retracement to 0.5/0.38 FIB level on a daily. After a big red day on 25th June, yesterday closed green and as DOJI candle exactly on the FIB level. I like to buy on the 2nd wave, after the first retracement, I believe this is a good entry for those looking to buy. As...

Trading_Cipher

***Welcome to daily Bitcoin analysis. I do daily BTC review and try to provide my unbiased TA. Please let me know if you have any other chart requests*** As expected so far, Bitcoin has retraced to 0.38 FIB on a daily. I believe this is the last chance for bulls to start pushing up. Defend this level and we go to 200DMA at around $43K. With good conviction, I...

Trading_Cipher

***Welcome to daily Bitcoin analysis. I do daily BTC review and try to provide my unbiased TA. Please let me know if you have any other chart requests*** Ok, so, Bitcoin has got three daily green closes, which is a really good sign, as mentioned in my yesterday's post, big buyers show up when markets are fearful, and that's what we can see in the price action. I...

Trading_Cipher

So last two days bulls showing more interest at this level, and seems like we have had great volume, on chain data is not that bearish, it's safe to say Bitcoin looks like bottomed out for now, it can't stay in this range forever, China FUD created enough liquidity for Bulls to buy back Bitcoin with 50% discount from the top. So yeah, anyone waiting to Jump in...

Trading_Cipher

I was hoping XRP would hold crucial $0.69 support level and it is not below 200DMA. It doesn't look good at the moment, there is some buying and its up 16% so far, but it has to close above $0.69 area in coming days to invalidate its current bearishness. BINANCE:XRPUSDT

Trading_Cipher

Bitcoin seems to form a hammer candle, but we also need a follow up with a green candle to confirm the local bottom. We have a mix of good and bad news in the last few weeks which has definitely sent investors/traders into a panic and confusion. So far we have bounced of expected demand zone, let's see if we get back above 40K. But overall looking at the fear in...

Trading_Cipher

Just couple of days back we were looking to long Bitcoin at around $35.5K to $36K range, it has clearly broken the support and fell below to $33.5K and quickly got bought up, but now it's rejected by the support turned resistance at the moment, so I wouldn't suggest to long here. Only good thing is, there is RSI and OBV bull diversion on 4hr chart (Not on CCI), I...

Trading_Cipher

Current Short data shows, shorts are pilling up crazy, I believe short squeeze is more likely here for bitcoin. Don't short immediately after break of support, it's too late to short now. Bitcoin is not showing enough demand at the moment, plus china shutting down miners will cause new investors to panic more, so I guess Bitcoin will take some time to gain bullish...

Trading_Cipher

With ETH fundaments improving and DEFI demand soaring, I believe ETH is going to repeat what BTC did in 2017. Hodl you breathe and ETH position

Trading_Cipher

As the current BTC sentiments are seems to be bullish in the market given BTC has broken few important resistance on the way up last month. I am still forming a bearish case on weekly charts. The current BTC movement has been stopped by 50WMA as expected. Have a close look at the 30WMA its just kissing 50WMA and looks like bulls are out of fuel. The second reason...

Trading_Cipher

I can see the inverse head and shoulder forming on daily BTC chart. I stand to be corrected but this is what it is, the neck like is at ~6800 area, but mind you there is good resistance at ~6400. Given we are not seeing any volume this just looks like a retest of previous support which pushed BTC to ~6800 area earlier this month.

Trading_Cipher

Do you see whats happening here? ~7840 support was so crucial, now we are next support level, I feel some consolidation will bring us back to retest ~7800 level but I don't think it will break that, also look at where 50MA is exactly where resistance is formed, this makes solid case for bare market, we cannot assess bullishness unless we break ~7800 level.

Trading_Cipher

If I have to compare and copy BTC pattern of 2014, this is how it would look like. It is very much repeating 2014 pattern so far, I am feeling it is going to something similar for months to come. We will see how it goes.

Trading_Cipher

So what do you think is happening here? I think a flag is forming on 3days BTC chart as we can clearly see, prices bounced at 6K level twice but if BTC breaks ~7600 level we are seeing BTC going down to 3500-4900 area to find strong support. I would go short if BTC breaks ~7600