Bitcoin has dropped absolutely perfectly to our major support level as expected. We now see our 1st major support at 8890 (Multiple ABC Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level to push price up to at least 11970 resistance (Fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is...
Buy above 8968. Stop loss at 8591. Take profit at 9898.
Reason for the trading strategy (fundamentally):
The big news would be India’s finance minister, Arun, announcing that the government does not view cryptocurrencies as a form of legal tender and would take measures against the tech’s use for illegitimate purposes. This big stance on cryptocurrencies shook...
Hello Traders!
Notice you, that near future BTCUSD has minimum 2 variants of possible priceaction.
Correction phase, is not over & still in power!
Plse, be care youself!
After the retest of bottom 8500 - 8000, PT's will try to take long position to "Short term target": 12000$.
"Middle term targets": 17000$ - 18000$;
"Long term targets": 23000$, 27000$,...
Bitcoin continues to hover above major support at 9509 (psychological level, horizontal support, Fibonacci retracement) and a break of this level could trigger a sell off to push price towards 7572 (Fibonacci retracement, horizontal overlap support). We can see that price is facing major bearish momentum with a long term descending resistance line holding it down...
Sell below 10478. Stop loss at 11223. Take profit at 9328.
Reason for the trading strategy (fundamentally):
There continues to be more negative news surrounding Bitcoin and cryptocurrencies as a whole than positive ones. The latest one being the U.S. District Court issuing a temporary restraining order (TRO) freezing BitConnect’s assets as a second lawsuit was...
Bitcoin has dropped absolutely perfectly after breaking our ascending support and has reached our major support at 9500. We are now watching key support at 9509 (major swing low support, Fibonacci retracement) where a clean break of this level would open a potential drop to 7572 support (Fibonacci retracement, horizontal overlap support).
RSI (34) remains under...
Sell below 10478. Stop loss at 11223. Take profit at 9328.
Reason for the trading strategy (fundamentally):
The biggest news that has driven Bitcoin lower recently was Facebook’s new policy that bans advertisements involving bitcoin and initial coin offerings, citing that they are frequently associated with misleading and deceptive promotional practices that are...
Bitcoin has started to test major resistance at 11962 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down to at least 9470 support (Fibonacci extension, horizontal swing low support).
Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding...
Bitcoin has started to drop really nicely from our major resistance at 11962 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a further drop could occur to push price down all the way to 9470 support (Fibonacci extension, horizontal swing low support). It is important to watch the key ascending support which could result...
Sell below 12198. Stop loss at 13109. Take profit at 9328.
Reason for the trading strategy (fundamentally):
We are filled with more bearish news which has continued to drive the price of Bitcoin and the confidence in cryptocurrencies down. The latest being the securities commissioner of Kansas issuing a warning on the risks of cryptocurrencies and ICO...
Chart shows two double bottoms and if the latter double bottom follows the former, BTC should pump and hopefully reverse to a bullish outlook. Chart also shows an ABCD pattern which also shows a bullish trend.
I expect price to reach at least $14,000 and use the $12,000 area (current resistance) as support once it breaks out.
CME contracts expire tomorrow...
Sell below 12198. Stop loss at 13109. Take profit at 9328.
Reason for the trading strategy (fundamentally):
The security of cryptocurrency has been hit once again with tokyo-based cryptocurrency exchance Coincheck confirming that It has suffered what appears to be the biggest hack in the history of the technology, losing $533 million. While this doesn’t...
