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Bitcoin reaching its apex. Last Friday Bitcoin had a 10% upwards movement holding the .786 Fibonacci level as support and breaking up from its falling wedge (also got within $20 of the 200 weekly moving average again). Following this move BTC seemed to be forming a bull flag for continuation, but this bull flag has extended now going on for 1 week, which is why i am not taking a flag pole target if we break up. On my charts I have marked out the trend line I am trading Bitcoin from. On the largest scale we have a symmetrical triangle. Moving down I have pitchfork lines, a parallel channel and my EMAs. I have been scalping Bitcoin from the trend lines over the past few days and my trades has played out successfully. As Bitcoin edges closer and closer to the apex of the Pitchfork and mid parallel channel i expect a break. Currently I have no bias and will be trading the move either way. If Bitcoin is to get a candle close below the mid support trend line I will short down to my target of the .618 Fibonacci level, and will long a close above the resistance trend line with targets being horizontal resistances. Obviously if we move sideways out of this apex I will not be taking a trade, and will study the charts again to find a new setup; but for now this is what I will be trading. Either position will give me extremely good risk to reward ratio trades. You must rise above affiliation. Be neither a bull nor a bear, but only seek the truth. The truth is the chart; a chart cannot lie to you or give you a bias, only your psychology and emotions can do that. A topflight analyst is free of bullish and bearish biases and will trade only when a setup is there. Here I am letting either setup come to me, being a patient trader and entering upon a break. In the meantime there are alt coins with setups to trade right now, and the stock market volatility continues each day (something I thoroughly enjoy to trade).
BITMEX:BTCUSD.P
by PatekCharts1
Bitcoin falling wedge.Today I present you with Bitcoin's falling wedge pattern, which generally breaks upwards but I am trading this down for a bottom touch first target. Remember though a falling wedge, although a bullish pattern in terms of opportunity, is a pattern of lower highs and lower lows signalling selling pressure and it is best to buy a break of resistance with volume confirmation, it that comes. Price is being held up from the 786 Fibonacci bounce currently. I am trading this falling wedge by laddering in shorts up to the 0.618 Fibonacci level at $3560, to trade this down to my first target of the 200 weekly moving average which sits at $3310. A double bottom should also act as support temporarily. Bollinger bands are tight up to the daily time frame. 55, 100 and 200 EMAS are also strong resistance on the 4 hour+ time frames. Although I am laddering shorts if price breaks above the 0.618 with volume I will get stopped out and i will be scalping long positions; the highest target for a long would be $3900, where I would expect strong resistance and adds to my idea that we may also be forming another descending triangle, or a symmetrical. I am trading a short, but ready and have a plan should Bitcoin break upwards with conviction. If Bitcoin decides to move sideways out of this wedge I will be looking for another trade setup and position. When a stock moves sideways you should be studying that chart and working out why it is moving sideways, accumulation or distribution. I am ready with the setup and have let my position come to me with a good risk to reward ratio trade.
BITMEX:BTCUSD.P
by PatekCharts1
1
$BTC - #Bitcoin-Daily-Update #19 - Day Trader ExplainsHello Lads and Ladies, Welcome back to TJ's TA sessions.- The Daily BTC Update #19 What happened in the last 24h? In the last 24 we saw some nice movement in the same range that we have been moving the previous day. We saw some altcoins move but especially more volatility and movement with Bitcoin itself. For me it was a nice day with a correction from yesterdays FUD. Most important S/R right now? 2939 3030 3100 3160 3200 3250 3333 3434 3550 3666 3730 3812 3929 4077 4123 4169 4382 4658 Gained lost %? Since the opening of the new daily, we wicked down -0.27%, but gained 2.57% in $$$ down 6$ but up 90$ MarketCap? Total MarektCap is 121 Billion - +1 - Of which BTC is 64 Billion - 0 - With a Dominance of 52.3% - -0.4% - Volatility? The 30d avg Volatility is 4.57% - -0.03 - Shorts/Longs? Shorts - 21.7k (pretty low) Longs - 31.5k (high but solid) - S -1.0k/ L +0.6k - Funding? The last 3 funding rates added -> -0,0511% - +0.045 - Momentum? The TJ-Momentum is showing us a red cloud again, which is indicating us a drag and pull down. This might be important for the next days. Volume? With such a nice movement in the market today, we are having some nice volume attached to it as well. None of high significance but the candles are definitely backed by the volume. TJ-MF/TJ-Stoch levels? TJ-MoneyFlow - Today we are seeing a pretty small and ascending money flow, yet as such a small cloud, it is of minor importance to us currently. TJ-Stoch K(blue) - 27,5 D(orange) - 26.1 Divergences? We are seeing a slight divergence between the longs and shorts in comparison to the chart. AND we are seeing an uptrend on the TJ-Moneyflow which is an important divergence against the down trending market structure. Market Structure? We are still in a descending channel and might even find ourselves in a very huge and scuffed bullflag. It would be nice to see the breakout, especially when the shorts are so low at this moment. Overall? We are seeing in my opinion a possibly bullish market structure, yet due to the momentum and a possible bounce in shorts, we might be testing 3550 today or even 3434. This is still the case unless we get more bullish or true bullish confirmations. Obviously, we are seeing a stoch cross over but that is only one puzzle piece. A safe and secure long position can be considered. The previous 12% drop was very heavy and fast, leaving out a big gap and space to be covered first before considering going down more. We are as well seeing a huge decrease in shorts and a minor but further increase in longs. Creating a divergence to the chart, which should be higher according to the longs and shorts. What do we want? We want some bullish action and with as near as possible to a one billion volume day. Position? Keeping the position. Like and Follow me and you will find this page interesting because I am a TA expert and professional day trader in crypto since 2012 that does daily updates and new posts about the hottest and most discussed coins. This is as always a delayed post, if you are interested in first hand news, feel free to join our group, Cheers, TJ
BITMEX:BTCUSD.PLong
by KongTrading
6
BTC WXYXZ correction, or 200 weekly moving average supportHere is my long term count for Bitcoin. Comprising of 5 motive waves and an extended fifth followed by a WXYXZ correction. For the final WXYXZ target to play out Bitcoin will need to break the 200 weekly moving average, which is a massive support level. At the time of writing several stock market indexes are also bouncing from the same 200WMA, just so you know this is a massive support across all markets. The second retest of the 200 weekly moving average is a place i do expect another bounce. The 200 weekly MA at the time of writing sits at $3260. This is a price level shorts have to be taking profits, as in theory there should be a bounce on the second touch. If the 200WMA support, and the double bottom supports are broken then an amazing short opportunity arises as Bitcoin will likely face a long and extended bear market and the longer WXYXZ lower target should be hit. I will be planning my trades carefully and reacting to any changes in the market daily. Should Bitcoin bounce and hold support for a few more touches, bull volume starts to return and price makes higher highs, then the lower price targets are unlikely to be hit, but should support break I will be very aggressive with my short positions and add to them heavily. There really is life changing opportunities for both long and short trades in 2019 across the Cryptocurrency and stock markets.
BITMEX:BTCUSD.P
by PatekCharts1
3
BTC-DASH Dash -Alt Coin Analysis - Point SystemAlt Coin Analysis - Points out of 10 Date : Since 2014 ( 8 / 10 ) Volume 24 H : 22000 BTC ( 8/ 10 ) Available Markets* ( 9 / 10 ) Social Media Rate ( 7 / 10 ) Ranks **13 ( 8 / 10 ) Website ( 8 / 10 ) Type private, untraceable cryptocurrency - Dark Coin Overall ( 7 /10 ) Dash is worth watching closely, the RSI is oversold. Dash started 2017 with a price as low as $10.40 and went all the way up to $1,596.73. Great job!! Now, it is around $155 . You had a change to get a Dash masternote for around $10000 in 2017!!! Masternodes helped a lot to pump this coin. I am not buying it here but I will buy a hugeeeeee bag of Dash if I catch around 0.01 BTC level!My dream will come true. * Considering top 10 crypto exchanges ** Top 100 coins on coin market cap get 10 points
Long
by CryptoEngineering
BTC ROCKETS toward end of month b4 dumping into 2019 logic: nothing sensible. bitcoin futures (before was okcoin, now its bitmex ) actually control the price of spot market btc so if the manipulator [let's assume they are called MEGAWHHALE}, was going to dump BTC very low on spot market, MEGAWHHALE would of set massive shorts prior so to hit MEGAWHHALEs position(s), while at the same time, driving BTC low to accumulate and SET LONGS on the future market to PUMP spot market to hit long position. MEGAWHHALE controls spot markets that comprise BITMEX future index . soo, when all are fearful and selling, MEGAWHHALE is buying BTC/LTC/ETH and longing and preparing ASICS to mine 2019 the mass sit at a loss, only to see had they didnt sell theyd of maybe broke even or made profit, bringing them back into the market cause new money is dumb dead money, buying into another the top and holding a bag while MEGAWHHALE dumping & correlating with CORP interest/legislation "…because it's the last ride ever gonna That I'm ever gonna take at Astroworld world world world world world world..." Travis Scott - Watch ft. Lil Uzi Vert, Kanye West
BITFINEX:BTCUSDLong
by bu11b3ar
5
Long from start of Wave 5, and opening a short on 0.618 Fib.I have opened a long position on the horizontal support that Bitcoin is holding at $6577, which coincided very nicely with the top of Wave 1. Elliott Wave - Wave 4 cannot move into Wave one's region, so it was a very nice risk to reward ratio long for me with stops just below Wave one's top. I will be holding this long(keeping a close eye on it of course) up to a double top/ 0.618 Fibonacci retracement where i will be closing my long and entering into a very big short position with stop just above the descending triangle resistance.
BITMEX:BTCUSD.P
by PatekCharts1
BTC Bottome at $3000 ? - Inverse Head & Shoulders ? - Recovery ?Bitcoins 0.93% current down trend is forming a noticeable/possible Inverse H&S (Not Required To Be Horizontal Like Most Think). - First note the big signal of sell volume followed by movement up to the "Neckline" forming the "Left Shoulder" - Then a vast increase in Sell Volume again, and movement up to the neckline for confirmation, forming the "Head" - Ideally, movement will follow to the "Neckline" again for rejection, ultimately creating the increase in Sell Volume and forming the "Right Shoulder". - Then followed by an increase in Buy Volume to create a "Breakout" and Test current support, triggering a possible Bull Rally. - The "Target" is the same distance from the top of the head to the "Neckline". This is just one of many options. Please feel free to share your comments and feedback down below.
BITSTAMP:BTCUSDLong
by JustCrypto
VERY Bullish on bitcoinAs you can see on this chart the far more probable direction for the next months is very clear and I am joining the 90% of professional analysts calling for a major bull run. Bitcoin should break out of consolidation in the next few weeks and start an amazing run. It could even happen this very week. Here is where the -0.618 mentionned on the chart would be located with a non log chart: Tried it with a couple other charts: Nikkei example: Dow nearly a hundred years ago: Dot com bubble: Dax indice: Gold: EURUSD: CL: Brace yourselves...
BITSTAMP:BTCUSDLong
by MrRenev
25