BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Everyone panic? Hesitating? Investing? Thinking? Counting? Cutting? Fudding? Standard demo before storm. Do You think Asia decides where maket goes? Come here and share Your view. My view is simple: This is time when We wait for next wave. Europe is preparing. Russia is preparing. Volume is still high.

BTC             is not going lower than 9900, pouring core position into this area.

Comment: Today is a big day. If price remains bearish we will not take any action in this battle.
I still stand with >9900 theory, but I won't bet on it. Patience.

Comment: Hello. We have very interesting situation right now.

First of all, I will introduce to You explanation of yellow line. How is it created? Look at inverted H&S formed through BCH-BTC manipulation. There appears a neckline that could hold price above. Right now, we have good backup for entry. Look at the image:

Comment: BTC looks very well, soon will recover. Lets see 4hr frame to consider next movement. If double bottom pattern is filled we can easly profit at 16200. So what to do now? Buy small amount and wait. Buy core and put stop loss under blue line( pull back to 9900 for retesting market indecision is very possible), or wait for breakout confirmation.

Comment: The best way to fit there is patience. BTC's range has narrowed, so don't expect huge price jumps. I think it will last quite long.

Yellow line is good anchor, if You will join this into Your trading strategy definately You will improve accuracy. Price is trending up, but nothing is sure, direction is very hard to predict right now, many other cryptos brings to us more clear field.

However. If You decide to buy BTC, You need manage with risk. I will try to guide You through major movements. Here is example of trading idea on this pair:

Comment: Update for long term holders.

If You wonder investing in BTC on long term scale, there is something You should consider. I would like to warn You before You take any action right now. My point is patience, but question is: how long?

There is an answer. This week is going to tell us if MACD on weekly supports long side or bears took whole control on the market. My advice is: stand still on Your position but do not open any new one. We have to wait one week more for clear situation on the field.

Comment: Again, We are on Yellow Line :)
MACD starts hesitating.
I think We should take it on our advantage.

Comment: I could realize to myself that I am not first drawing these white lines...
But this truly proves long support.

Comment: Alright. Yellow line is broken. This puts us in neutral zone. Now we need to w8 for better picture

Comment: **** wrong picture, but this is good point for study another market. There is BTC/USD

Comment: Ok,lets start deep analysis.
Here is picture of BTC/USD in 05.2017-07.2017. Most of us should remember these days.
Legend: green circle (volatile thurst)
white lines (dead cats bounce)



Now we have situation on the picture below

Legend: green circle (volatile thurst)
white lines (dead cats bounce)
blue line (strong support)
yellow line (neckline from inverted H&S, on sideways)



How to treat these 2 screenshots? We could compare them because of their similar nature.Breaking the yellow line could be just a bull trap (trap that is created by bulls to catch everyone bear-minded into a trap) - in other words - fakeout.
Trade closed manually: Lets roll over and start investing in new topic

your TA is strong. I concur.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out