jacobcanfield
Long

Bitcoin Bullish With Ascending Triangle and Futures Gap

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin on the short time frame is forming a bull flag , which is typically a bullish formation and continuation of the uptrend.

We need to see confirmation with strong volume to break upwards from the triangle.

RISING WEDGE
We are still seeing the rising wedge pattern play out with perfection if you measure from the wicks.


If you are not in the Bitcoin trade, the R/R isn't there yet as there are a few bearish indicators and signs of being overbought.

POSSIBLY ENTRY
We are still looking for a potential entry around the support line of the rising wedge if it breaks down.



SHORTS VS LONGS
The shorts vs longs situations has changed dramatically in the past several days as shorts are quickly closing their positions as price has steadily climbed.



I still see a move to the upside at the 2nd gap in the futures market as I had noted on my previous analysis.


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Good point regarding shorts vs. longs

We have a potential spot buy opportunity coming up

August 30 BTC analysis | 4h trendline support + horizontal support | Daily SRSI curling down | Spot opportunity at ~6800:
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Lol, when everyone called to go long we broke down - surprise surprise lol
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We have switched to bearish from our side as the price is near the 0.618 Fibonacci level (7,500) which on 1W basis has reversed into the two previous Lower Highs (10,000 and 11,700). On the medium term it appears that shorting is the best option:

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it should be like this bro:
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Weekly closure will be crucial.

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Potential IHS in formation with target pointing at 8000$-8800$
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Here's my quick input on Bitcoin's track - I see 3 white soldiers with firm uptrend on 1W Chart - Nice chart BTW

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alibacetav CryptoManiac101
@CryptoManiac101, you are the most retarded trader ive seen. Youve been wasting a lot of time posting your shitty graphs since long time ago, adn you always fail, indeed funny.
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Asma7assan alibacetav
@alibacetav, what is retarded about his graph exactly?
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Long entry hit perfectly!
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