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BTCUSD pushing up or time for a retrace?Position: Waiting to see if it confirms Bear indicators. BTC is interesting right now. There is momentum for BTC, but it appears its because ETH/BTC is getting driven down and people shifting in that respect. Whether that drives it much higher or corrects lower remains to be seen. Conflicting indicators 1. On the weekly chart we have had a solid cross of the MACD pointing down, with the bars coming up slightly. 2. On the day chart, the averages have crossed and are going up strongly but it's in negative territory Bearish Indicators 1. Weak MACD, in positive territory but pretty "meh" 2. RSI divergence on multiple tops, broken rsi trend line 3. Trendline 4. About to hit some pretty significant resistance. if it starts really going down, we will see support at the 10k level. the 9k level would be a great starting point to buy. We had a good trade previously when it broke that 9k mark to the upside. Time to be careful at these highs. Lots of resistance at this 12-13k level. For me, I already got out from my trinagle trade to the upside and there isn't much reason to jump in again right now. For me, I want to see a lot of solid reasons to buy and there is a definite case for a possible retrace, but it's also very possible we will continue up. So, time to sit on my hands and wait to see what happens and wait for a good entry. Happy Trading -Sherem
BITSTAMP:BTCUSD
by Sherem
1
Bitcoin BTC USD Forecast - Reversal Religion Never have I witnessed traders praying so much in my life. Praying for a bitcoin bullish reversal. Chart shows that 50-100-200 MA stands in the $9,200 area. BTC needs to reach that point within days and try find stability. Reversal could occur either through Inverted Head and Shoulder pattern. If H&S fails, plan B kicks in for a double bottom at $6,000 area. Let's hope for the best. This is not an invesetment advice, always do your own research.
BITFINEX:BTCUSD
by itradearn
1
Bitcoin next moves and price levels-HIGH VALUED/UNDERESTIMATEDBitcoin is still rebouncing in a channel (7800-8400), it could stay there for a couple a few days, but when breaks trendline market will be pulled downwards with 40-45% price drop which might cause panic sell and lower the price (5800 level even deeper). Everything with Bitcoin would maybe look fine (if we deny fact that sinked already from 19.000 level to 12.000 level, some rebouncing, dropped to 10.000 level and continued to go with downward pattern all the way down to the price 6.000 level making him lose 70% of it's ATH value. Then rebounce to 8,500 level. So, what now? People are talking that this correction is finished, but it seems they are actually confused in general, because EVERYONE WAS BULLISH TILL WEEK or TWO and now suddenly EVERYONE IS BEARISH. How come? What that means? That means that people who are trying to predict either Bitcoin movement or some other altcoin movement (which 100% depends on Bitcoin) DON'T UNDERSTAND movement in general, because whenever some big green candle appears in downtrend they state " correction is finished" " Bitcoin to the moon" etc. They would not be changing their minds or statements in the matter of day or week if they would be able to see bigger picture. This is bussines enviroment and in situations like this you better don't take advices from a guy who had C- from STOCKS :). No matter people don't understand stock exchange, they can see if they portfolio increased or did not in past few weeks. I belive drasticaly decreased. That happends because when people are uncertain, they take advice from someone who stands out as "high reputated" or "expert" in order to make decision in their name. And fails few times in a row, losing for example 50.000$ money. What i m trying to say is don't bait stories about some big rebounce, some non realistic prices, because that WON'T HAPPEND ANYTIME SOON. Bitcoin needs to SINK and SINK ONLY in order to restore confidence on some price levels. Even that this Bitcoin apparently seems stable, (doesn't sink suddenly as it did for a few times so far which results pulling entire market down) but in general doesn't seem reliable at all. Bitcoin may remain on this price level for a few more days , but, trendline will be "tighter" which will lead to to break trendline. When that happends, it will go all the way down to 5.800 level (there is a posibility that it drops even deeper), but we should see how strong 5800 level of support "reacts" in a situation of sudden dips as we could see few days ago (dip to 6000 level and rebounce to 8500 level). Conclusion : -Don't buy stories about bullish Bitcoin -Price will go to 5800 level (maybe even 5400 level, then 7500 level, then will bleed out all the way down to 3000 level -Rebuy either on 5400 level, buy high volatile coin (XRP,XLM), when price reach 7500 level, cashout and wait for future dips -If not doing so, most probably people will lose some percentage of their portfolio, because if they get caught in downtrend, if not cashing out, traders might lose around 40% of their portfolio. -Don't let you self sink with Bitcoin, cashout on time, rebuy on next dip, liquidate (cashout) after rebounce, and wait -So far this Bitcoin doesn't let altcoins to grow, but even if it remains calm, it may happend that altcoin could be " cut off" on half on uptrend which depend only if Bitcoin will decrese fluctuation and apparently acts stable). -It's a deceptive situation, this Bitcoin movement, don't let your self to sink with Bitcoin (or any other altcoin) -Cashout before dips occur
by milanjelic
56
Multi-timeframe Bitcoin StructureIt has been a long time since I wrote a detailed description/write-up on bitcoin (you guys know I don't like long stories), however I want to guide as many people as possible through this market. Our goal here is to stay objective at all times, put your emotions aside and learn to buy when the market looks extremely weak and depressed or sell when it's better to take that profit or loss and expect further downfall. To begin lets have a look at the past year, what milestones did we pass and where did this massive growth we have seen put us into awe. From what I can see is the starting point or reversal point of the prior downtrend from 2013 bubble on 21 August 2015, this is where the bottom of the cup is and at that time bitcoin was hovering around a mere 200 USD. From there things became more interesting and people took notice again, especially those who already got in touch with bitcoin around 2013 or even longer-term holders. We headed from 200 USD back to our all-time high in 2013 around 1300 USD. On 4 January 2017 it hit 1100 plundge to 800 but recovered quickly then retested the all-time high at 1300 area fell down again to 950 and from there the cup broke out. This cup breakout is a pattern often used in trading and this new interested created a sustained trend with several larger shake-outs on the way to our current top of 19250 USD. We achieved this massive uprun, this growth and volume is nothing we have seen before anywhere else as far as I know, in a total of 850 days (or ~121 weeks) from out bottom of this 2013-2017 cup. Almost at 100x increase from the bottom, a great achievement and definitely shows that there is great interest in blockchains and cryptocurrencies in general. Objectively speaking, some part of this massive growth/capital will be taken out as long-term holders liquidate and price trend looks to find an agreement with long-term moving averages. We can definitely agree that bitcoin has been a big hype, practically the whole world has heard about bitcoin and probably a few people you know also have invested into it. Bitcoin is a revolution, it definitely is, but expectation's versus real-life useage are too far apart at this moment. It takes time, reflection and acceptance from governments to push this to a new innovative world system where everyone can profit from. We don't want to overthrow banks, it would only destabilize global economies which would be bad for everybody. We do want to bring a clear message to our governments, banks and institutions; A new era has began, innovation/reflection will thrive and set aside the old systems which clearly show their flaws too, there's much to do! This realization that there is much to do both for bitcoin as banks/governments shows that it is still in a development phase, technologically and politically speaking, but also psychologically bitcoin should not only be held for infinite growth and "store of value". Making some good money on this early adoption is great but eventually it has to stabilize and the volatility shouldn't create sleepless nights whether you're capital is making huge swings (up and down). The best things for bitcoin in the future are being able to spend it in everyday life, in most (web-shops) like a credit card account, spending keeps the money rolling, makes it more attractive to use and will eventually find an equilibrium where it will get interesting for anyone to use it. We will find an agreement over time and this happens with consolidation of price action. We broke a crucial level which is the 38.2% down retracement (~12000 USD) from the ATH and in my other chart "Bitcoin History of Price Crashes" this has been a crucial level for prior bitcoin bubbles. Monthly Stochastic RSI also show's that price is likely to head down more and the market sentiment has turned to a more bearish side now. Bitcoin is still confronted with legal bans from time to time, which has it's impact.
BITSTAMP:BTCUSD
by TheTrex
17
Bitcoin / US Dollar - BTCUSD - Fate in a couple of Hours!Chart shows that taking into consideration the bullish trend and drawing out parallel trend lines brings us to the conclusion that the next couple of hours will show us whether BTC will drop to possibly $8,000 or witness a bullish reversal and return to last week's position. BTC needs a reversal confirmation, be it a double bottom or inverted head & shoulders, to give us direction to where it is heading next. We know that BTC Futures contract ended yesterday at $10,900 and has relieved some pressure off BTC and other altcoins.
BITSTAMP:BTCUSD
by itradearn
1
BITCOIN MID-LONG TERM BULLISH! HIGH TARGETS EXPECTED!Bitcoin COINBASE:BTCUSD is currently forming a symmetrical triangle. We expect a continuation of the A,B,C,D,E correction. As currently pictured, we are on wave D, the corrective wave E is expected next. Side note: We do not need to complete wave E to breakout to the upside as momentum can carry us to a bullish continuation of our previous trajectory. Wave D can show a minor retracement and then slingshot right up. If price breaks below our pennant, we will be looking for a possible bearish scenario which can take us to the $10k's. This is where stop losses are crucial. If price raises to $18,000 and reverses, this can be an indication that we have formed a bearish flag. Be on the lookout for that. Short term targets are $16,100. Mid term targets are $23,000. None of this is intended as investment advice. Do your own due diligence and trade at your own risk. P.S. never trade with any money that you cannot afford to lose (comfortably).
COINBASE:BTCUSDLong
by faixapreta
BTC - Rising ChannelBTC is clearly trading in a rising channel, I had previously published a chart showing BTC forming a rising wedge pattern but I really should have given the pattern more time to form before publishing that chart. The pattern has progressed to where it is definitely a rising channel. Rising channels although short-term bullish, often form during downtrends as a continuation pattern. We will have to see if this is indeed a continuation pattern and BTC resumes the downtrend or if BTC is able to build momentum and continue to move higher.
BITFINEX:BTCUSD
by Bigsky_Crypto
BTC - Big Test AheadIMO BTC will face a big test through the next $1500 rise in price. It looks to me like there is significant resistance from about the $16,000 area up through the $17,500 area. I believe if BTC can push above $17,500 and even clear $18,000 it will have built enough momentum to return to $20,000 in short order. I would also really like to see the volume building as it moves up from here. My feeling is that if BTC can break through this resistance and test $20,000 again, this time it will push through $20,000.
BITFINEX:BTCUSDLong
by Bigsky_Crypto
BITCOIN CASH - Symmetric Triangle Pattern, 100% Profit PotentialThis graph shows where bitcoin cash could be heading next in terms of surprise, I have predicted that there are two possibilities of where the value could head one being in the upwards Direction towards the $4,600 Mark and the other being the opposite trend at the $1,500 Mark. This is quite unlikely as you would take use cell value in order to push fit quick cash to this price, however, we should take it into account as if the $2,000 Mark is broken downwards there is a possibility that we could head to that price. The more positive side is that there is a higher chance for the currency have another increase and return back to the previous house we'll probably find some consolidation and resistance. MACD - Lots of Potential for upward movement. RSI - also leaves space for an upwards trend more so than downwards. Orange - Resistance. Pink - Support. As always trade the lines accordingly.
BITSTAMP:BCHUSDLong
by thomasfar6
3
Bitcoin $BTCUSD in a Descending Triangle, breakdown by 1.7.18?Bear with me (no pun/pun intended), as I'm a fairly newbie chartist, but I've been pretty good with it and profitable lately, AND I've been trading Bitcoin since 2015 when it was $400 a share. From my standpoint, historically there is a support line at $12500-$12700 for Bitcoin. Since the peak at near $20K just before the second set of futures went live on 12/15, the subsequent >40% crash, and multiple corrections up and down, Bitcoin has been establishing lower highs and lower lows at the support line of $12500-$12700. In addition CCI is already indicating oversold, and the RSI is going to reach that point very soon. My theory/hypothesis: This is a CLEAR descending triangle on the 4 hour Bitcoin chart. If you follow the trendlines out from the peak downwards, with the bottom trendline as $12500-$12700 support, there seems to be a CRITICAL point that will occur sometime by the end of the first week in January. IF that $12500-$12700 support line is broken at that point (around 1.5.18-1.7.18), there will be a free-fall and MAJOR correction/gap down in Bitcoin at that point...I believe it could go to as low as $8K or more at next supports. Furthermore, I do not expect major spikes or dips in Bitcoin above $15K or below $12.5K until that time. What do y'all think? Fair analysis? DISCLAIMER: I USED to be long in Bitcoin in 2015, and bought the dip/sold EOD on 12/22, based on my chart analysis. I am a short-term Bitcoin bear, intermediate-term Bitcoin bull (until end of 2018-mid-2019 when there is more clarity in the crypto market on a perferred "winner), and a long-term Bitcoin bear. I don't have any position in Bitcoin but MAY enter a short position (or more likely wait for the huge gap down, and then buy the dip I expect to occur) after 1/7, if this goes the way I think it will go.
BITSTAMP:BTCUSDShort
by thetravelingbachelor
1
My Bitcoin Scenario'sFor the time being, we are in a short-term uptrend but IMO we are still at risk of rolling over and heading lower again. As you can see by the chart below (3rd chart), the price of BTC has, for the most part, followed on top of the 10 Day EMA, with only occasional dips below the 10 and 20 EMA during corrections. Typically the price has recovered and moved back above the 10 Day EMA within a fairly short period of time. So what I would really like to see now is as I said above for the price to break through the resistance I see in the $16,500 to $17,000 area and to regain its position above the 10 Day EMA. If Bitcoin can achieve this (scenario #1), then I will have confidence this pullback was nothing but a short-term price correction just as we have seen many times in the past. If instead Bitcoin struggles here and lingers below resistance in my opinion at best we could be looking at a longer-term consolidation period (which is healthy). Or worse case (scenario #2), we could see the price roll over and head lower again possibly even down to the long-term trend line #2 (around $8000). My gut feeling is that scenario #1 will play out but that is just my personal opinion and even if scenario #2 is where we head, long term I am still very bullish on Bitcoin.
COINBASE:BTCUSD
by Bigsky_Crypto