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Wait, I don't get free coins anymore? Dump those BTCs.I made this chart yesterday, but things got messed up and the fundamentals have changed as 2X got cancelled. Here is the old one where I was able to short the top, which doesnt happen often: Top reached, run for those alternatives! Had real good timing :) Don't get trapped, be smart. In the latest days I have seen so many switching their views on Bitcoins direction. "A new entity has taken over" I read from some trader for example. Bitcoin is a market that behaves after supply and demand like the rest. I will be shocked if we see more demand than supply over the next 10 days. Fundamental No more free coins, that's the reason we are dumping. However, I have much more bullish view on BTC now as opposed to pre-fork. Core won the battle, and BTC will remain king. The market was about to take a huge dive regardless of what happened to the fork. Either panic or no free coins. But, I am looking at my buy area as more unlikely now and may decide to buy when I close short. Will keep updating this idea. Technical We have completed 5 waves, and its time to get a correction. I am looking at the 0.618 as a perfect place to close out short (5250 USD). If we look at the trendline it gives us a nice place to open longs. Right between 0.5 & 0.382. Numbers Short: 7800 USD Close Short: 5250 USD Buy: 4600 USD
BITFINEX:BTCUSDShort
by Kryptokelly
2
Top reached, run for those alternatives!Don't get trapped, be smart. In the latest days I have seen so many switching their views on Bitcoins direction. "A new entity has taken over" I read from some trader for example. Bitcoin is a market that behaves after supply and demand like the rest. I will be shocked if we see more demand than supply over the next 10 days. Fundamental With big news such as the CME announcment and the upcoming "free coins" on fork date, I see many have this mindset that this time its different. It never is. This does seem like a perfect place to buy, breaking 7600 high and you get two coins in 8 days! That's why I am selling, it is the definitly the smart thing to do. We are in a bubble and when there is a contagious hard fork coming up, you aint gonna get "free" money on the fork. Those coins combined will be worth less then now. And god forbid 2X puts up a real fight, it can get ugly fast. However, shorting BTC is not the best play you can do before fork. Going long on alternative coins, with margin, against BTC, is the best you can do. In the upcoming days I will be putting out some ideas and explain why. Technical We are in the 5th wave, and while it's always possible to go higher, I believe it will end soon. In case it's not, I am having stops above 8200 USD. First target I am looking for is the 0.618 FIB, which is around 5200 USD. That should be reached easy. Second target is between the 0.5 & 0.382. With an eye out for the trendline which will be around 4200 USD. But it could go as low as 3500 USD, depending on how the fork goes and how much panic we will encounter. Numbers Short: 7800 Close Short: 5200 Buy: 3600
BITFINEX:BTCUSDShort
by Kryptokelly
5
[POSSIBLE +100%-2000% LONG] DGBBTCHere's that jewel that most of us look for, it's still a 50/50 trade in my perspective, there's no clear confirmation but we see a clear decrease of the downtrend force, all the indicators are showing a slow reversion, smaller time frames are used to time the bottom it looks good. The crucial here is the price staying above 120 for the next hours if so that means that probably that's a good bottom and a good confirmation, judging the enormous upside (+2000% until the last fib level) it is something that i would accumulate if price holds. Fundamentals are ambiguous, the team failed several times delivering on conferences that's why the constant drops, but the coin/tech itself is good. It's a technical purchase mostly, people realizing it is just too cheap. Sell targets are all fib levels, sell at your own taste ;)
Long
by spectertrading
7
SELL IT LIKE A BOSS |BTCUSD| H2I see three possibilities on this assets after RSI confirms a reversal on BITSTAMP:BTCUSD 1. Price will continue down and touch the previous support line then bounce back up to the new resistance forming a new lower high, after which it will rally down to the indicated target at the 3538 area. (remember, structure always leaves clues) 2. Price will continue to rally down from current level forming lower highs all the way to the 3538 target area. 3. Price will rally down respecting the new downtrend parallel channel all the way to the 3538 target area. !! You know the rule, risk only 2% of your capital unless you are hedge fund manger with inside info :) !!! BITSTAMP:BTCUSD
COINBASE:BTCUSDShort
by UnknownUnicorn1118164
2
MCO before Binance open - analysisMCO is targeted to release August 31st. Recently, the market has been moving the price closer to match the market cap of it's competitor Tenx Pay. We still have around 300% growth before that point is reached. With the opening of trading on Binance today at 3:00PM Hong Kong time, we can expect this trend to continue. - Expect fast growth and sudden drops. - Expect market cap of MCO to reach PAY (Tenx) in the short term. - If the release on the 31st is successful expect much more growth for the mid to long term. - If the release is delayed expect a sudden drop until confidence returns. *This is my opinion and is not investment advice.
MLong
by wvb1
ETH IMMEDIATE Short Sale: Fibs, Fan, Trends, and ResistanceWhat's up Guys and Gals, this is a short sale idea for Ethereum based on 3 prior sharp sell-offs over the last few months. The idea for this trade is based on the market meeting resistance at the 38.2% Fibonacci level (the entry on our potential short trade), and re-testing the 61.8% Fibonacci level (which is our profit target AND potential entry into a long trade). The time-frame to be in this short trade is roughly two to three WEEKS. This is about how long each prior sell-off in the last 3 months took to make their runs, with plenty of opportunities to get out in between. The risk-reward profile on this trade varies depending on where you place your stop, but the example I've provided is a good middle-of-the-road stop (a reasonable 18% loss limit) with an attractive R:R of 1:2. As long as you keep your loss limit under 30%, giving your trade some additional room to breathe is not a bad idea. The benefit of this is insulating your position against the potential effects of breaking news events, while the disadvantage is more risk. Approximated trendlines and the top of the downward channel roughly coincide with the 61.8% level, which, to me, adds to the support strength of the price level there as a buying opportunity. With the Gann Fan, price should theoretically fall faster once it retraces past the 3/1 line. The 3 represents units of movement vertically (price) over the 1 unit of movement horizontally (time), which I also see as added confirmation for this trade idea. If you are just not comfortable selling ETH, I would recommend that you wait for price to come down into the 61.8% level to enter into a long position. Don't forget to check out my long-term Elliott Wave long trade idea for bitcoin as well, you won't want to miss it! I'll post an update if North Korea immediately sends price flying and wrecks this trade. Happy Hunting Everyone.
Short
by Piptocurrency
3
ETHBTC waiting for a big moveSeems like ETHBTC is currently in a tug of war between buyers and sellers and is forming a pennant. I don't like how the last 3 candlesticks look though. Selling pressure is visible but the bulls are buying. Ethereum is still not in overbought zone so another wave up is still possible. Buy strategy: Buy when Ethereum breaks out from that thick downtrend yellow line. Put a stop 2% lower from your buying position or the % depends on you. 1st support target: Area between 0.085 to 0.086670
by clydeuscope
LibraryCredits: Fibs, Fans, Fundamentals and Candle FunThis is a raw, long-term, long trade idea for LibraryCredits based on the market's relative respect for key fibonacci levels, the formation of specific types of candles within the last few days, as well as consistent, long-term formations of higher highs and higher lows throughout the price action history. We set our profit target (an ambitious 77%) based on the anticipation that the market will once again respect (if but temporarily) the 38% fibonacci level. I want to be clear that even though I view this as a long-term investment, opportunities for profit-taking may present themselves within an intermediate timeframe of one to three months or less, and should be exercised, though I recommend always retaining some level exposure for the long-term. Our stop-loss is based on the simple desire to preserve capital (50%) should this trade move against us substantially, but all targets are subjective and dependent upon your appetite for risk and many other factors. The larger highlighted circle demonstrates the continued formation of higher highs and higher lows even following an explosion in price, volume, and liquidity. The first smaller highlighted circle demonstrates a 2 or 3 candle pattern where selling pressure evaporated, and the market resumed upward, and the second circle is showing a very similar candle setup, suggesting that the tide might turn once again. LibraryCredits is a platform for sharing and hosting free content. It is another example of a small but reliable, proven workhouse in the digital asset space. Happy Hunting Everyone.
LLong
by Piptocurrency