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Bitcoin-short

BITCOIN:At the edge of the cliffHello dear traders, Let's keep it simple. Summary & trading plan: - We perfectly called for 10450 dollars XBTUSD zone failure to hold, and we saw a strong bearish move as anticipated yesterday in our idea, targeting low 10k. - Bitcoin is now sat on the edge of a Daily Cliff and we can see very low targets if it triggers. Please, read the detailed analysis for further details and targets if the idea is triggered. - Still hedged from >11k4. - Looking for altsbtc setup considering this potential weakness. - For live updates on btc & alts, and for free trades, follow us on twitter. Weekly a/ Market structure: still intact bullish structure, but indecisive at the moment. In the same time, weekly chart is showing us a trendwall that is getting weaker and weaker here . A trendwall is basically a trendline that is drawn based on a point of resistance, and a point of support during an uptrend, that allow us to get an idea of the exact place where price can reverse. Considering it provided support already three times, we now have to consider that the next test is not going to hold, and we are going to break down, each test making the trendwall weaker and weaker. Weekly support to monitor is 8750. b/ RSI: indecisive but can definitely move down for a reset. c/ MACD: Under Bearish Crossover in positive territory. => Consolidation on this TF and a retest of support is possible. Daily a/ Market structure: still intact bullish structure, but indecisive at the moment. Breakout of resistance right before monday close. Tuesday confirmed our idea of a bearish rising wedge that is in play now. Support at 9800, 9500 then a possible swing failure pattern at 9k to run the stops that could make us close to the weekly support at 8750 usd. Chart is here. A close under Monthly Open at 10100 is your trigger for downside continuation . b/ RSI: Indecisive, on support line. A break of the support would confirm our bearish plan and gives strong momentum to the downside. If we have to face a daily downtrend, lower target an be expected and 7800 usd is possible. c/ MACD : Under bearish crossover, and crossed the centerline, so under bearish territory. That's look bad to be honest at the moment, let's see on daily close. 4 hour 4 hour: a/ Market structure: Break of Bullish Market structure because we broke down strongly, breaking the low that created the top. We tagged resistance and got rejected. A close under 10100 is your trigger for downside continuation . Volume is decent and we can expect sellers to step in if we see continuation. Chart is here. b/ RSI: Broke down the trendline. Look like momentum found some support here. c/ MACD : Under bearish crossover and looks like headed to bearish territory. Cheers.
BITMEX:BTCUSD.PShort
by SubvertoTradingClub
Bitcoin fractal downtrend comparison and demand drop! (Part 1)As in every market bitcoin price changes come from supply and demand. The supply changes slowly relative to the daily fluctuations in the price so we can consider the supply relatively constant on daily trading timeframe. Most of the demand comes from speculation. Therefore, by tracking the public interest changes we can relate it to the price movement. The best way I found for doing that is by checking the traffic on binance and coinbase with alexa website. Looking at the Alexa rank 90 day trend, we can see that the interest has already peaked a few weeks ago as the price was around 13k - 14k. Since then, there is almost linear downtrend in the Alexa rank. Considering that as a short signal and that the top of this move is 14k, the second part of the analysis comes in. We can think of the bitcoin price movements as mass psychology reflection of fear and greed. Therefore, fractal relationships between uptrends as well as downtrends might exist reflecting the repeating patterns of buying and selling from mass psychology. In this Part 1 and the next Part 2, I will show more evidence of this fractal relationship between the last downtrend from 20k to 3.5k and the current one from 14k. The yellow ellipse represent the bull trap and in both cases it reaches similar retracement percentages (around 65%). The blue ellipse is where I think we are currently at. If this fractal relationship continues we should see a sharp drop in the coming days to 8k, followed by a move up to around 9.5k, then followed by a sharp move down to around 6k. Of course, there are no guarantees for that and the short position target will be updated as more information becomes available but for now first target is 8k. For more information on how to get a free trial of my fund, feel free to message me. For the next two months, I will be posting free trading ideas in crypto, stocks and commodities. Like and follow me for the next Part 2 tomorrow when I am going to dive in the fractal relationship between the two downtrends.
BITSTAMP:BTCUSDShort
by The4Fund
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