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BTC: The pattern I'm looking forGood day to all profit makers! If you find my charts useful please consider a follow and a thumbs-up as it motivates me to share and grow with you! - After following the ETP-1 XABCD Pattern, This is the pattern that I would be looking out for - Consult the chart for more information. - Note: - This is just my current idea. - I am not a financial advisor! and this is not financial advice - There is always a huge chance of different patterns taking shape in these ever-changing charts. - My views and charts can and most probably will change! - I can be 1000% wrong! - Trade responsibly. - Be focused. - Have a plan. - Stick to the plan. - No FOMO. - Take the time to study YOUR own charts and come up with your own ideas as you are going to trade with your money. - Never trade what you are not willing to lose - Remember Stop-loss is your friend. - Smile! - Good Trading and Good Luck
by dstvst
BTCUSD: SCARY Similarity From Last Market HighHello all, Going into this week, tensions and uncertainty is high in the USA. This may cause a scare in global markets. After looking more into BTCUSD, I found this similarity from the last BULL cycle. While looking at the charts, we can conclude a Head & Shoulders pattern is evident (red pattern). This pattern looks identical while comparing it to June 2019 to Now. The only difference being the timeframes. On to the MAs. As shown on the MA 100 (yellow line), it provided support for the uptrend in both scenarios. Once that was broken in June 2019, the market fell hard, directly landing on its MA 200. Looking at the MA 50 (blue line), we can see that after it was broken on both charts, the price retreated back to test it, then confirming it as a now a resistance. At the time of writing, BTCUSD is currently experiencing the EXACT SAME rejections. Now on to the RSI (bottom). Shown with red circles, we can see 3 similar tops on both charts. These tops are labeled 1-3. The first top (1), coincides with the top of the left shoulder on both charts. The second top (2), coincides with the top of the head on both charts. The third top (3), coincides with the top of the right shoulder on both charts. After viewing these similarities, It is not of the question to see the drop under 30k not many of us are expecting. This red line has been respected for 4 years. As seen in the past, it took a while to get over it, once that happened it came back and confirmed the breakout and thats when BTC went super parabolic. We are currently experiencing rejection at the Red line $40,000 range. As of now we are experiencing the same rejection on that line that was seen in June 2019 (left chart). This is shorter description as I wanted to get this out quickly as the market was dropping as I was making it. I hope you all enjoy! Please COMMENT & LIKE!
BITSTAMP:BTCUSDShort
by traderview2
49
"MIRACLE WAVE" on Bitcoin, (Step by Step action 1 to 4)Action 1: Up-Major Parallel Channel (X) Down-Minor Parallel Channels (Y) & (Z) Looking at both channel (Y) and (Z), it turns out that there is a SLIGHT different between it. Action 2: Used two Rectangles(i & ii) to measure the movement. The length & width of both rectangles are the same. The point where used by rounded black circle has been touched at value low(lower line of Major Channel X ) Action 3: Applied " Control Price " from labeled "a" to "i" Action 4: " MIRACLE WAVE " at 6854 approx. from " Control Price " that is projected.
GEMINI:BTCUSD
by Trade-Technique
557
BTC still not convincing.. Forgive the sloppy drawing but the point is clear. It seems like Bitcoin has peaked this time at around $8,996, failed to break $9,000 and break out of the downtrend or the 200MA. This current trend is eerily similar to the 2018 bust.. lots of selling with the occasional bear market rally. Bear market rallies are quite common, especially in stock markets (2009-11) had lots of bear market rallies. Coupled with lower volume, weak buyers, we can expect a sudden selling putting Bitcoin back below $8,000, unless of course we see volume increase and buyers coming in. As BTC is now listed through CME, it could be that lots of BTC investors have went into the stock market and got greater returns through stocks that BTC as the markets are setting records almost weekly.
BITSTAMP:BTCUSDShort
by WorldEconomics
3