As we all may seen, BTC was pumped today. The price hit $6600 mark. Then BTC rejected SMMA7 trend line and price dropped back below $6400, back inside bearish channel and below resistance at $6434.
Ichimoku indicates possible Bearish TK-Cross, but it is to early to consider this as reliable sell signal. RSI is still in uptrend. Also Stoch is in uptrend, but still below “20” level.
From the bull side, major resistance lie at $6434, $6800 and $7080. From the bear side, major support lie at $6123, $5789 and $5500.
Sum up, I’m still waiting for the pullback back to $6000 - $5500. BUT it is Bitcoin … futher price growth will follow if BTC daily close above $6300, likely $6400.
Finally, for those who have ben tempted by today’s growth and bought late, above $5500. Set up your stop loss slightly below at $6100.
Ichimoku indicates possible Bearish TK-Cross, but it is to early to consider this as reliable sell signal. RSI is still in uptrend. Also Stoch is in uptrend, but still below “20” level.
From the bull side, major resistance lie at $6434, $6800 and $7080. From the bear side, major support lie at $6123, $5789 and $5500.
Sum up, I’m still waiting for the pullback back to $6000 - $5500. BUT it is Bitcoin … futher price growth will follow if BTC daily close above $6300, likely $6400.
Finally, for those who have ben tempted by today’s growth and bought late, above $5500. Set up your stop loss slightly below at $6100.
Comment:
Be ready for new buying opportunity at around $6000.
Comment:
Hi Traders,
For now, BTC is moving inside important price area, between $6200 support and $6600 resistance. All of EMAs are above the current BTC’s price and now play the role of resitances. Ichi cloud is bearish. RSI is bouncing “50” level from below. Stoch is in strong downward trend.
Resistance at $6600 is realy strong! BTC has made several unsuccessful attempts to break the $6600 resistance. So, from bull side - bulls must break this resistance to keep upward trend.
Also support at $6200 is very important - bears must break this support to next downward trend continuation. If this happen, you can expect the price’s drop to $5800 zone.
I bet, Bears will win! So, I am going to sell all of my BTC if $6200 support fails.
Good Luck and ALWAYS use stop loss.
For now, BTC is moving inside important price area, between $6200 support and $6600 resistance. All of EMAs are above the current BTC’s price and now play the role of resitances. Ichi cloud is bearish. RSI is bouncing “50” level from below. Stoch is in strong downward trend.
Resistance at $6600 is realy strong! BTC has made several unsuccessful attempts to break the $6600 resistance. So, from bull side - bulls must break this resistance to keep upward trend.
Also support at $6200 is very important - bears must break this support to next downward trend continuation. If this happen, you can expect the price’s drop to $5800 zone.
I bet, Bears will win! So, I am going to sell all of my BTC if $6200 support fails.
Good Luck and ALWAYS use stop loss.
Comment:
Comment $BTC:
Bitcoin still bouncing $6500 resistance from below. This major resistance must be broken to the price increases.
Major support is $6200. If this support fails the drop below $6000 is again expected.
Now, market looks like that traders are waiting for SEC’s decision to Bitcoin’s ETF.
Dates are available in my previous post.
Personally, trading between $6000-$7000 doesn’t make me sense.
Technical indicators are bullish on small time frames only. This should indicates uptrend in short-term.
At higher time frames indicators are bearish. Regarding to expectation of negative SEC decision to ETF sentiment is more bearish now.
I’m waiting for price drop below $6000 (bearish setup) or for significant upward breakout (bullish setup).
Bitcoin still bouncing $6500 resistance from below. This major resistance must be broken to the price increases.
Major support is $6200. If this support fails the drop below $6000 is again expected.
Now, market looks like that traders are waiting for SEC’s decision to Bitcoin’s ETF.
Dates are available in my previous post.
Personally, trading between $6000-$7000 doesn’t make me sense.
Technical indicators are bullish on small time frames only. This should indicates uptrend in short-term.
At higher time frames indicators are bearish. Regarding to expectation of negative SEC decision to ETF sentiment is more bearish now.
I’m waiting for price drop below $6000 (bearish setup) or for significant upward breakout (bullish setup).
Comment:
Hi Followers,
Let’s take a look at current BTC situation. In recent days the price of BTC ranges between $6200 - $6500. We have seen several unsuccessful attempts to increase the price. But $6500 resistance seems to be difficult opponent.
Now, at 1D TF chart, we can see the well-known figure named Berish Flag with the prospect of going down. At the same time, this support my theory of a drop to the price at around $6000. On the other hand, I will not be suprised if the price increase to $7000. This is Crypto and expecially Bitcoin, the price can be pumped anytime.
Go LONG - daily close above $6500.
Go SHORT - $6200 support failure.
From the bull side, major resistance are $6500 / $6800 / $7000. From the bear side - major support are $6200 / $6000 / $5800.
Btw, important BTC’s event is coming. SEC’s Bitcoin ETF must be announced 23rd August. Sentiment si rather negative. It’s expected that the ETF will not be approved. My recommendation - wait for SEC announcement.
www.tradingview.com/x/WO0jYSdE/-
Let’s take a look at current BTC situation. In recent days the price of BTC ranges between $6200 - $6500. We have seen several unsuccessful attempts to increase the price. But $6500 resistance seems to be difficult opponent.
Now, at 1D TF chart, we can see the well-known figure named Berish Flag with the prospect of going down. At the same time, this support my theory of a drop to the price at around $6000. On the other hand, I will not be suprised if the price increase to $7000. This is Crypto and expecially Bitcoin, the price can be pumped anytime.
Go LONG - daily close above $6500.
Go SHORT - $6200 support failure.
From the bull side, major resistance are $6500 / $6800 / $7000. From the bear side - major support are $6200 / $6000 / $5800.
Btw, important BTC’s event is coming. SEC’s Bitcoin ETF must be announced 23rd August. Sentiment si rather negative. It’s expected that the ETF will not be approved. My recommendation - wait for SEC announcement.
www.tradingview.com/x/WO0jYSdE/-
Comment:
Comment:
The price of Bitcoin jumps over $400 in just a few minutes…immediately after Btimex shutdown due to the maintenence. This is main news of the day. During this rally, the BTC’s price broke a few important resistances - Fib 23,6% Retr ($6500), $6628 and finally the price hit $6800 zone where Fib 38,2% Retr lies. Also, the top line of Bearish Flag pattern can be seen there. Immediately after reaching the daily ATH, the price began to decreasing again.
And now, downtrend is still going on, loosing above mentioned resistances. Current price is $6300.
SEC’s Bitcoin ETF decision will be announced tomorrow. So, be prepared for everything.
If you are in USDT, don’t buy BTC now and wait for tomorrow SEC's decision. If ETF is approved, the price will start rally. First target $7900.
If you are in BTC, set up stop loss at $6200 and be ready for a sharp drop. If this happens, the drop to $5500 zone is likely.
And now, downtrend is still going on, loosing above mentioned resistances. Current price is $6300.
SEC’s Bitcoin ETF decision will be announced tomorrow. So, be prepared for everything.
If you are in USDT, don’t buy BTC now and wait for tomorrow SEC's decision. If ETF is approved, the price will start rally. First target $7900.
If you are in BTC, set up stop loss at $6200 and be ready for a sharp drop. If this happens, the drop to $5500 zone is likely.
Comment:
Hi Crypto Friends,
despite the ETF’s rejection yesterday, the market remained calm. Immediately after the announcement of the SEC, the price dropped by $600 only. After small rebound, currently is BTC trading around $6400.
Now, let’s take a look in more detail, at 12H TF chart.
BTC is held inside of Bearish Flag pattern. In more detail, BTC is bouncing between Fib 0,236 Retr and bottom line of mentioned Flag. So, BTC stuck on market flat between $6500 - $6400.
Likely, I am expecting drop down and re-test of $6000 price zone. RSI is neutral, but Stoch is in sharp decline. Ichicloud is bearish too. Another reason, why I most likely will continue downward trend is due to the BEARISH DIVERGENCE. As you can see, the price si making HH, while the Stoch is making LH.
But, in case that my TA will be fucked up and the price will go upward. The safe entry will be after $6600 (likely ($6800) resistance breakout.
If you want to scalping - your profit zone is $6600 - $6800 - $7000. Stop losss $6190. Daily close at above $6500 will be positive sign.
despite the ETF’s rejection yesterday, the market remained calm. Immediately after the announcement of the SEC, the price dropped by $600 only. After small rebound, currently is BTC trading around $6400.
Now, let’s take a look in more detail, at 12H TF chart.
BTC is held inside of Bearish Flag pattern. In more detail, BTC is bouncing between Fib 0,236 Retr and bottom line of mentioned Flag. So, BTC stuck on market flat between $6500 - $6400.
Likely, I am expecting drop down and re-test of $6000 price zone. RSI is neutral, but Stoch is in sharp decline. Ichicloud is bearish too. Another reason, why I most likely will continue downward trend is due to the BEARISH DIVERGENCE. As you can see, the price si making HH, while the Stoch is making LH.
But, in case that my TA will be fucked up and the price will go upward. The safe entry will be after $6600 (likely ($6800) resistance breakout.
If you want to scalping - your profit zone is $6600 - $6800 - $7000. Stop losss $6190. Daily close at above $6500 will be positive sign.
Comment:
Hello Guys,
In spite of negative expactations, regarding to SEC's decision, the BTC’s price has been increasing over the last 2 days, from $6200 - $6600 zone. The Bearish Flag pattern is still in shape. Meanwhile, BTC is forming another “bearish” pattern - Ascending Triangle. RSI is still slightly increasing, but no strong signal is indicated. Stochastic - I can see development of Bearish divergence. Major trend EMA50/EMA100 trend lines are acting as resistance, now. EMA10 and EMA20 cross each other, without any significant bearish or bullish signal.
Based on the above mentioned aspects, I expect futher decline and re-test $6200 support.
However, if the price increases, then wait for $6600 resistance breakout confirmation - daily close above $6600, followed by green candle. Profit targets $6800 / $7000 / $7400. Stop loss $6450.
Enjoy your weekend!
In spite of negative expactations, regarding to SEC's decision, the BTC’s price has been increasing over the last 2 days, from $6200 - $6600 zone. The Bearish Flag pattern is still in shape. Meanwhile, BTC is forming another “bearish” pattern - Ascending Triangle. RSI is still slightly increasing, but no strong signal is indicated. Stochastic - I can see development of Bearish divergence. Major trend EMA50/EMA100 trend lines are acting as resistance, now. EMA10 and EMA20 cross each other, without any significant bearish or bullish signal.
Based on the above mentioned aspects, I expect futher decline and re-test $6200 support.
However, if the price increases, then wait for $6600 resistance breakout confirmation - daily close above $6600, followed by green candle. Profit targets $6800 / $7000 / $7400. Stop loss $6450.
Enjoy your weekend!
Comment:
“3 Days below $6800”
The BTC’s price has been caught in a narrow range betwen $6500 - $6790 over the last few days. Strong resistance at $6792 (last H&S Neckline) still holds BTC below.
Two important Global Trend Lines are a bit ahead of us (see pink lines). Also EMA50 lies there. H$S resistance still defends the price of further growth. RSI is totally flat, Stoch becomes more bearish. Meanwhile, We can see the well-known figure named Rising Wedge with the prospect of going down. Bulls needs new impuls. Now, It seems they are getting tired.
Who followed my last TA, now is in trade and have a small profit. Use stop loss - triangle patterns can be break through both directions. If you want to buy some BTC, I recommend you to wait for $6800 breakout, likely $7000.
The BTC’s price has been caught in a narrow range betwen $6500 - $6790 over the last few days. Strong resistance at $6792 (last H&S Neckline) still holds BTC below.
Two important Global Trend Lines are a bit ahead of us (see pink lines). Also EMA50 lies there. H$S resistance still defends the price of further growth. RSI is totally flat, Stoch becomes more bearish. Meanwhile, We can see the well-known figure named Rising Wedge with the prospect of going down. Bulls needs new impuls. Now, It seems they are getting tired.
Who followed my last TA, now is in trade and have a small profit. Use stop loss - triangle patterns can be break through both directions. If you want to buy some BTC, I recommend you to wait for $6800 breakout, likely $7000.
Comment:
Yesterday, the price of BTC closed above $6800, above H$S neckline, acting as resistance, and above 0.382 Fib’s retr. The price has been rising whole today’s day. Finaly, BTC hit $7150 mark and was stoped by 1D TF EMA100 trend resistance.
At smaller TFs, the market is slowing and bulls become weaker. The most of EMAs trend lines are below the current price, And the price just rose above the last one - EMA200. All of EMAs are in bullish shape. Ichimoku performed TK-Bullish Cross and the price is above Ichimoku's cloud. Just StochRSI become more bearish. So, all mentioned above predicts upward trend continuation, at least to $7500 zone.
BUT … look at 1D TF chart - upward trend hasn’t been confirmed yet. I pay my particular attention to Ichimoku - Ichimoku’s lines are in bearish TK-Cross formation. Ichimoku’s cloud indicates strong resistance at around $7400 zone. The rest of Indicators are more bullish than bearish.
Sum up, $7500 target is expcected and we will probably get even higher, maybe even $7800 - $8000 area.
If Bulls lose their strenght - start to be nervous, if the price drop below $6800 and sell your holding if the BTC’s price drop below $6500.
Keep your stop loss updated.
This TA will not be invalid any more, if the $7200 resistance fails.
At smaller TFs, the market is slowing and bulls become weaker. The most of EMAs trend lines are below the current price, And the price just rose above the last one - EMA200. All of EMAs are in bullish shape. Ichimoku performed TK-Bullish Cross and the price is above Ichimoku's cloud. Just StochRSI become more bearish. So, all mentioned above predicts upward trend continuation, at least to $7500 zone.
BUT … look at 1D TF chart - upward trend hasn’t been confirmed yet. I pay my particular attention to Ichimoku - Ichimoku’s lines are in bearish TK-Cross formation. Ichimoku’s cloud indicates strong resistance at around $7400 zone. The rest of Indicators are more bullish than bearish.
Sum up, $7500 target is expcected and we will probably get even higher, maybe even $7800 - $8000 area.
If Bulls lose their strenght - start to be nervous, if the price drop below $6800 and sell your holding if the BTC’s price drop below $6500.
Keep your stop loss updated.
This TA will not be invalid any more, if the $7200 resistance fails.
Comment:
CME BTC August Futures Last Trade Date coming…
When Futures started the price was $9300. Current price is $6800. Hm, good profit for short position. August Futures expires tommorow, so I'm curious how it will end up.
In spite of current decline, I still believe the price can get back to $7200 zone or even better to $7500.
BUT As I wrote yesterday, if $6800 support fails, the downtredn will propably continue. If $6500 support fails, the drop below $6000 is expected.
When Futures started the price was $9300. Current price is $6800. Hm, good profit for short position. August Futures expires tommorow, so I'm curious how it will end up.
In spite of current decline, I still believe the price can get back to $7200 zone or even better to $7500.
BUT As I wrote yesterday, if $6800 support fails, the downtredn will propably continue. If $6500 support fails, the drop below $6000 is expected.
Comment:
hm, amazing weeknd for BTC, wasn't it? BTC hit $7350 mark. The most of indicators are still bullish, but I'm expecting drop now, to re-test $6800 support.
Comment:
For further growth it’s necessary to break $7350 - $7450 zone. Personally I still expect a drop to $7000 price zone. Stoch and RSI have crossed at its high levels, which can tell about an overbought market (a bearish sign).
