Sell below 8321. Stop loss at 9805. Take profit at 5758.
Reason for the trading strategy (fundamentally):
News have been slightly positive for Cryptocurrency lately with some encouragement received in the form of Nvidia CEO saying that cryptocurrency is ‘not going to go away’. Along with that, Arizona has cleared a bill that aims to allow residents in the state...
It was PM'd that I should explain my position regarding the current state of the all-mighty Bitcoin. So, I've decided to open a slight position and trade BTC in order to analyze it's movement technically.
Typically, BTC is my purchase for other Alts. And although other Altcoins have stepped up to facilitate this, BTC still has the main adoption. Per my analysis,...
Bitcoin is still rebouncing in a channel (7800-8400), it could stay there for a couple a few days, but when breaks trendline market will be pulled downwards with 40-45% price drop which might cause panic sell and lower the price (5800 level even deeper).
Everything with Bitcoin would maybe look fine (if we deny fact that sinked already from 19.000 level to 12.000...
Inverse H&S appears to be near completion and the second shoulder is a small one, telling me that the downward pressure is weak. This may also be solid confirmation of the trend reversal during this previous consolidation period. My target is 84 hours as my experience shows that our rallies begin Thursday evenings (9pm MST) and run until early Sunday AM usually.
Although in the short term I believe that $BTC will take a small dip, it's becoming more and more clear that we're starting to make a reversal.
Parameters:
The white histogram in the back is BFX Longs vs. Shorts. Useful to tell market sentiment.
All indicator arguments are shown
RSI ticking up from being oversold, MACD is just about to cross, and the...
Sell below 8321. Stop loss at 9805. Take profit at 5758.
Reason for the trading strategy (fundamentally):
While there has been some good news with Canadian cryptocurrency exchange Coinsquare raising $30 million in new equity financing, there was also the flipside where Hong Kong-based cryptocurrency exchange Binance continues to halt trading and customer...
Members will be receiving early updates on this and other trades
Bitcoin (BTC) will easily reach $50,000 in coming month and will be on the way to near $100,000 or slight over by year's end with over $1.75 Trillion Market Capture by end of 2018
BEFORE THE STORM OF NEGATIVITY UNLEASHES, HERE IS MY REASONING...
We all understand that we will have more drops...
BTCUSD is back to testing our major resistance at 8057 (shorter term descending resistance, horizontal pullback resistance, Fibonacci retracement) and a reaction could occur from this level to drive prices down to 5763 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a long term descending resistance line hold price down really well and...
Sell below 7993. Stop loss at 8885. Take profit at 5758.
Reason for the trading strategy (fundamentally):
There has been some positive news lately surrounding cryptocurrency, with the latest being Singapore Deputy PM and chairman of Monetary Authority of Singapore (MAS) saying that cryptocurrency and related trading activity currently do not pose any threat to...
Previously I was looking for another low. Based on the current structure, I've turned more bullish and looking up. Based on this assumed wave 1, I've outlined what I'm looking at BTC to progress. Now is a possible buying opportunity somewhere in this correction with a ~$7,200 stop. LTCUSD is at a similar stage.
BTCUSD is now testing multiple resistances (long term pullback to descending support-turned-resistance level, shorter term descending resistance, horizontal pullback resistance, Fibonacci retracement) and a reaction could occur from this level to drive prices down to 5763 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a long term...
Sell below 7993. Stop loss at 8885. Take profit at 5758.
Reason for the trading strategy (fundamentally):
Bank for International Settlements (BIS) chief, Agustin Carstens, has blasted bitcoin as a ponzi scheme, an environmental disaster and a threat to central banks. He further blasted bitcoin by stating that cryptocurrencies fail to meet the basic textbook...
Hi traders,
I´m back on the road with a brand-new crypto analysis.
For now it´s important to know that bitcoin is the dray-horse of the complete crypto market. If it collapse, the whole market will follow. That´s like all important stock markets simply follows the Dow Jones Industrial Average which you can see now if it drops hard.
We saw one of the biggest...
Hey there guys, Bitcoin just setup for a perfect Gartley. Plus its respecting the support/resistance around the 8000 psychological level. RSI also oversold!
Great confluences to get us on a good buy here guys.
WHAT YOU THINK?
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==> OTHER THOUGHTS?: Kindly comment so we analyze together :)
DISCLAIMER:
Please note I am only providing...
Sell below 7993. Stop loss at 8885. Take profit at 5758.
Reason for the trading strategy (fundamentally):
Another big news in the cryptoworld is Lloyds Banking Group, which includes Lloyds Bank, Halifax, MBNA and Bank of Scotland, has barred customers from using credit cards to buy bitcoin and other cryptocurrencies. Its decision is over concerns that users may...
BITFINEX:BTCUSDLONGS down by a huge. Capitulation is in the air.
4H Bullish Divergence. Mildly strong bullish reversal signal.
The first clear one actually.
Mind you, we are still in a bear market. This if anything, is a short term bullish reversal to maybe hit the RES at 11-12k$ range.
That point will be crucial.
