BTCUSD Chart I accidentally noticed I used Bitstamp but it applies to mostly all exchanges... Bullish Pennant is formed, needs an upside movement to hit the topside resistance to form a new support for a clean breakout. Possible for it to break down through the wedge and cause a downward trend. But the higher lows is a bullish indicator. Trade well. Trade smart.
Sell below 13995. Stop loss at 14690. Take profit at 12948. Reason for the trading strategy (fundamentally): Price has continued to experience bearish pressure especially with a lot of investors’ eyes on the South Korean government plans to close the country’s cryptocurrency exchanges along with the tax authorities investing some of the exchanges in Korea. Some...
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...
Buy above 12948. Stop loss at 11965. Take profit at 14250. Reason for the trading strategy (fundamentally): Investors are getting spooked especially with news that South Korea might potentially ban the trading of cryptocurrencies via exchanges in the nation. This is largely due to the Korean government mulling its options for curbing what is seen as excessive...
Trading suggestion: There is possibility of temporary retracement to suggested support zone (11300.00 to 9600.00), if so, traders can set orders based on Daily-Trading-Opportunities and expect to reach short-term targets. .Beginning of entry zone (11300.00) .Ending of entry zone (9600.00) Take Profit: TP1= @12745.95 TP2= @13245.20 TP3= @13788.50 TP4=...
Buy above 14332. Stop loss at 13581. Take profit at 15662. Reason for the trading strategy (fundamentally): We’re seeing a slight recovery on Bitcoin largely because of a few good news surrounding it. Firstly a report by Goldman Sachs highlights how bitcoin could serve as alternative forms of money in troubled economies, especially where traditional services of...
proportional reasoning for thinking what bitcoin may be doing next.
As described in the title, Bitcoin has broken de retracement and is in a good support zone for a new swing high. If you are holding ETH based tokens also could be a good moment to move some to bitcoin as ETHBTC is at a weekly resistance.
Bitcoin is testing major support at 14200 (61.8% Fibonacci retracement, horizontal overlap support, bullish divergence) and a possible bounce could occur at this level. However there’s strong descending resistance holding price down really well. Only a clean break of this resistance level would add conviction to the rise we’re expecting. RSI (34) sees bullish...
Buy above 14126. Stop loss at 13247. Take profit at 15391. Reason for the trading strategy (fundamentally): Bitcoin has been dropping strongly largely due to an SEC pushback that has led to several ETF proposals being withdrawn. There were several firms which were looking to list ETFs tied to bitcoin but the SEC “expressed concerns regarding the liquidity and...
Price is testing our major support at 15581 (ascending support line, pullback support, 50% Fibonacci retracement, Fibonacci extension) and a bounce could occur at this level to push price up to at least 17214 resistance (Fibonacci extension, horizontal swing high resistance). Stochastic (21,5,3) is seeing major support above 8.3% where a potential corresponding...
Sell below 15496. Stop loss at 16615. Take profit at 14126. Reason for the trading strategy (technically): Price is seeing major support from our ascending support line and also at 15496 (Fibonacci retracement, horizontal pullback support). We will only sell on the break of this major support which would trigger a push down to 14126 support (Fibonacci...
Bitcoin is testing major resistance at 15194 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance, bearish divergence) and we can see that there is a strong ascending trend line support that is squeezing recent price action. A break is likely to occur soon and we would increase our conviction of a potential drop if price closes...
Price has continued to test our resistance area at 15319 (Fibonacci extension, 61.8% to 78.6% Fibonacci retracement area, swing high resistance, bearish bat formation) and a strong drop could occur from this level to push price down to at least 12915 support (Fibonacci retracement, horizontal swing low support). Stochastic (24,5,3) is seeing major resistance...
Sell below 15016. Stop loss at 15791. Take profit at 12908. Reason for the trading strategy (technically): Price continues to test our major resistance area at 15016 (Fibonacci retracement, Fibonacci extension, bearish bat harmonic formation) and we expect a drop from this level to at least 12908 support (Fibonacci retracement, horizontal swing low...
Watch this triangle, part of the flag forming after the initial breakout above the previous resistance which now has become support
Bitcoin is testing major resistance at 15194 (61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance, bearish divergence) and a strong drop could occur at this level to push price down to at least 12915 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement). Stochastic (34,5,3) is seeing major...
Smart investors boughthe dip. Did you? After they went short and made good money after the rally was exhausted, but now they are getting in on the long side.