Bitcoin has broken our descending resistance-turned-support line triggering a bullish exit. A strong rally could occur above 1st major support at 9857 (breakout level, horizontal overlap support, fibonacci retracement) all the way up to major resistance at 11772 (Fibonacci retracement, horizontal swing high resistance). RSI (34) has made a similar bullish exit...
Bitcoin has bounced perfectly above our major support at 9119 (fibonacci retracement, extension, pullback support) and has also made a bullish exit of our descending resistance-turned-support line. This could potentially lead to a rise to 11813 resistance (Fibonacci retracement, extension, horizontal overlap resistance). Stochastic (55,5,3) has bounced nicely...
Intro: Bitcoin is just about to reach a strong resistance level, good opportunity to short. Sell below 10520. Stop loss at 10991. Take profit at 8909. Reason for the trading strategy (fundamentally): The major news announcement surrounding bitcoin would be the release of the much-anticipated version 0.16.0 Bitcoin Core which has added full support for...
After the 20000 usd run and the 70% retracement (6000 usd), btc rose to 12000 usd and retraced again. Is the retracement finished? Well, now we have different scenarios: 1) correction isn't finished, so the price could drop to the red rectangle (8500-8000 usd). Look at the RSI. If price drops to the red rectangle, rsi will drop to the red circlo-->oversold and...
STILL in Long since 6,000 and adding new positions as we have a clear bullish flag for the next move up, as mentioned in the previous chart any pullback was a good buying opportunity, for those of you who trade leveraged products trade with care as this market is extremely volatile and if you went long at around 6k levels you should have your stop loss moved to...
Intro: Bitcoin has continued to drop nicely towards our profit target, we still expect further bearish pressure albeit quite limited. Sell below 9852. Stop loss at 10550. Take profit at 8909. Reason for the trading strategy (fundamentally): The big news surrounding cryptocurrency recently is from Bank of America’s annual report. It has expressed particular...
Bitcoin is fat approaching major support at 9119 which is a fibonacci retracement, extension and pullback support level. At the same time, we can see strong bullish divergence vs price which is always a good precursor of a potential bounce. Our major resistance is at 11813 which is our 50% Fibonacci retracement and horizontal overlap resistance level.
Bitcoin is dropping really strongly and is approaching major support at 9109 (Multiple Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at least 11772 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (34,5,3) is seeing major support at 7.2% and...
Intro: Bitcoin has broke our major support line triggering our bearish move yesterday. We tighten our stop loss to protect our profits while riding this move down. Sell below 10356. Stop loss at 11015. Take profit at 8909. Reason for the trading strategy (fundamentally): The big news today is the L’Authorite Des Marches Financiers (AMF), which is France’s...
Bitcoin has dropped to our 1st major support as forecasted and is now bouncing off it strongly. Our 1st support is at 10319 (Fibonacci retracement, horizontal overlap support) and our major resistance is at 12970 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension). Stochastic (34,5,3) is seeing a nice bounce above 7.2% support with good...
Intro: Bitcoin has broken its ascending support but requires one more major support to be broken to trigger a sell off. Sell below 10356. Stop loss at 11300. Take profit at 8909. Reason for the trading strategy (fundamentally): One of the latest news surrounding cryptocurrency is what Venezuelans are saying about their new national cryptocurrency, Petro. This...
For all the professional traders that are calling for BTC to go to zero - I say, these traders aren't even obeying their own technical analysis tools, which are supposed to predict future trading patterns based on human behavior. If one uses these tools, we can clearly see that BTC has been trading in a channel ever since the beginning of 2017, and, but for the...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Bitcoin is now testing our ascending support line which has been holding price up in its recovery since the beginning of February 2018. This is definitely a key support as if price breaks it, it would be a strong precursor to a bearish move. Drawing some correlation from our Etherium (ETHUSD) idea, this level has to hold otherwise we're seeing a potential larger...
We were watching our ascending support line really closely yesterday and price has finally broken below it. This is usually a sign for a potential change in momentum to bearish. Our 1st major resistance is at 907 which is a pullback resistance level. Our next major support is at 778 which is a 50% Fibonacci retracement and a strong horizontal swing low...
Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding bitcoin involves Israel confirming it will tax bitcoin as a property, meaning that it is treated more as ‘a property, not a currency’, making it therefore taxable as such means profits from cryptocurrencies will be subject to...