Jocoin
Short

Don't get excited now 13400 hit

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Expect retrace very soon we got bearish div on 1 hr as well as on daily
The area between 11400/10800 should not break for trend continuation

2d bearish div as well


Original idea:
Comment: Except a retrace from here for a bout a week
Comment: What a dump to 11600 after 13800 hit thats another great call

As i said retrace is coming soon and it did in few hours and i mentioned for trend continuation 11400 10800 area must not break down it so for now i expect consolidation for about a week in this range and lets hope it stand for reversal
Comment:
Comment:
Trade active: 10800 reached and we got higher low, as we expected, btc gathering strength the next days. we got 1 hr hidden bull div supporting it see below
Comment: Finaly! We got the daily close 10750
Comment: Hidden bullish DIV spotted everywhere! ( click to read the details )
Comment: We got lower low, higher low invalidated that was ABC correction but we still bullish, we were waiting for 1d and 2d daily close between 10500 and 11500 we got 1d 10750 and 2d is very close and its very important to be above 10000 / 10500 area its also critical 10k level not breached with daily close

Low time frame indicator always trick traders that's why we are not doing day or short term trades and we focus on higher time frames and the trend, here is another look:


Trade active: 2d candle closed above 10500 level as we were expecting which is more confirmation for the reversal as we noticed 10k level breached for few seconds and stood strong!!
Comment: 9800 touched this is mostly BEAR TRAP. Wait for 1d candle close.
Comment: What a bear trap!! We did call for it guys, Btc reach 9600 area but daily candle close is above 10800 again!
Since we hit 13900 in Jun 26 we expected to consolidate for about a week between 10500 and 11500 level with daily close above 10k level and we got that, during this week the lowest daily close was 10600.

And we said many times 10k level should not be broken with daily close and so far this stand strong beside 4HR hidden bull div completed we can officially say now consolidation has ended and BTC is ready to resume uptrend.
Comment: 4HR hidden bull DIV completed! Bear Trap triggered below 10k

We got daily close 10750 then 2d close 10500 showing btc strong above 10k level but after btc went below 10k level again we should wait for the next daily candle close but we are still bullish because indicators now went very low and gave chance to form 4hr hidden bull div we were waiting for the last couple of days which is now very clear on rsi and macd
Trade active: This was a perfect matching for 2d close 10500 forming wave 2 in general wave 3 according to my waves in this post, now expect btc to take down the 2nd BLUE resistance line in next days and once it close 2d candle above 12k area, I am telling you guys BTC WILL FLY
Comment: Bullish Descending Broadening Wedge In play!
Comment: Inverse H&S inside the WEDGE which is more bullish pattern confirming breakout in the next 1-2 days
Comment: The wedge still in play and developing as expected although it took longer time but the wedge resistance has been confirmed with 4 times touch lower low. As well as 11/11400 area holding very nice.

I am expecting breakout to upside in anytime very soon. Watch out!
Trade active: Watch out! We got the WEDGE Breakout! (click to read details)
Trade closed: target reached
Comment: Bitcoin free fly incoming! (click to read details)
Comment: As we said in last update, if the price go below 11500 with 4 hr candle close this will invalidate my view but We have got 4 hr candle close above 11600 twice and its very clear btc is reversing right now , We have got hidden bullish divergence on 4 hr which is very clear:
Comment: Not only 4 hr bullish hidden divergence but also 1 hr classic bullish divergence as well as macd crossover, have a look:
Comment:
Comment: 1hr classic bull div + 4hr hidden bull div ( CONFIRMED )


When i published this idea ( Bitcoin free fly incoming! ) before we drop from 13k level, I did explain its still incoming and retrace to 12k level is very possible and we did retraced below it as well as i said we should wait 2-3 sideway moves before shooting upside
So the idea still in process and so early to judge when dealing with 2d time frame even if we got closed below 11500 in lower timeframes but we did reverse very nice after we spotted divergences just in time before it complete and we did share with you!

I really wonder some people who asking for updates privately or in comments without even pressing like to the idea!!!
Another thing i would like to point out, look to the trend line:
Trade active: Bitcoin bull run fractals on daily - Targeting Golden Ratio! ( click to read details )
Comment: 1hr classic bull div + 4hr hidden bull div + 1d hidden bull div ( Completed )


Comment: Correction is almost over - no need to panic!
Although we got lower price but in my opinion it doesn't invalidate anything yet, divergences on lower time frames most of times are complex but its a clear sign that reversal is coming.
So if we look to the daily, we can adjust the trendline and today candle close will tell us if its still valid. The pattern will turn to be a large pennant more than a triangle and both of them most of times are bullish when formed in uptrend.

The fractals on daily rsi&macd are almost completed so yea today should be the day to make it or break it. daily close below 10300 going to be very bad.
Comment: Reversal: Resistance Turned Support - ( click to read details )
Trade active: Trap: BTC below $10,000 for the last time! ( click to read details )
Comment: Anyone wondering what is the count for the previous bear market correction in my opinion:
Comment: Check last idea to read updates:

Comment: BTC is out of RED zone .. $23,000 Could be a new ATH! -- (click to read details) follow idea to get updates.
Trade active: Will BTC take over this stubborn resistance this time! ( click to read details )
Trade active: BTC: 12H Ichimoku showing interesting bullish signs! ( click to read details )
Trade active: This could be the last idea to share with you guys!...... click to read
Trade active: BTC: Isn't The Trend is Your Friend, Until it Ends?!
Trade active: Daily BTC Chart: Still Show all this bullish signs..?! ( click to read )
Comment: (CME vs Bakkt) .. Why they said, Buy the Rumor and Sell.... ?! (click to read)

Related Ideas

Thank you!
Reply
very good :)
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Jocoin FREE-DOPE
@FREE-DOPE, Thank you!
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well done mate
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Jocoin daddycool1
@daddycool1, thank you
Reply
nice spotted divergence!
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Jocoin pwtrading
@pwtrading, thank you my pleasure
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