IN H1 timeframe there is a good opportunity to buy Bitcoin just for gains limited, because Bitcoin is formed a descendent triangle and trend is becoming morbearish!!! Now, we are in this simetric triangle flag, but as reference we touch an important support that bulls are make resistance on this zone!!!
Remember that in...
Bitcoins bullish momentum loses steam on encountering the 50-day EMA resistance.
Declines linger as long as BTC cannot climb above the 50% Fibonacci level.
Bitcoin explored levels in the key support range between $10,000 and $10,200 earlier this week. The last few days have been used by the bulls to correct the retracement from the resistance at $11,200....
Using a 50/200 MA I've laid out time frames between the various occurrences of golden crosses, death crosses, and halvings.
Wanted to share with the community and see what theories any of you may have from seeing this and if you're noticing any patterns.
THESE ARE THE FACTS
We are still under a death cross
We have not made a higher high yet.
We have not surpassed major resistance.
Volume is only moderate.
Even though we saw a massive green candle we are still on a downtrend, so short term traders make sure to use your stop losses. If I was in for short or midterm trading I would be nervous that he death cross...
Final destiny to the buying level for this year 2019. Level watching is 7274 ( personally i have a buy order at 7300). While this is not the perfect support level, the major one is at 7022. It would be really disastrous if it breached this level and closed below it. Still riding the sell signal which is close to turning into a buy signal. Not a good price to short...
Current trading path showing signs to break to the downside, unless a surge to the upside is realized. We failing to rally past the 21EMA, even if that is breached we would need to blast past the 55EMA to register any bullish movement.
10500, 10800, 11500 so much confluence on the way up we will likely not rally past that unless some magical volume...
Been a while since we looked at bitcoin, that's cause a lot of sideways move makes for boring reviews. So here we go after the recent dump we have removed some clutter out of the chart and zoomed out for a bigger picture type of trade opportunities.
-Bitcoin is approaching what we believe is the strongest resistance line going back to its first ever...
Like text book we failed to breach 11000-11200 range and we now as of writing back to 10600 and falling, play your cards close to your chest though as this may very well be a fake-out to squeeze longs out as well. My last post has the whole story, it may be found on the chart itself or related posts, be kind to have a look, not much to say right now.
No matter how we look at it we look at it the bulls are in control after breaking the 10700 mark on the first attempt. We now well poised to climb towards 11000, breaching this could see us on our way towards 11500 and possibly the holy grail of the current rally at most likely 12000, anything above this should be considered a bonus. Please note this would needs...
Dont you love it when candles make love to trend lines, they just meander as expected and every piece fall into place? Thats the beauty of technical analysis. Poetry aside, a re-cap of what happened:
1- A steady EMA
2- Slow climb towards 10200
3- A breach of Resistance at 10200
4- A rejection almost to the T on the sloping resistance and the extrapolation of the...
After the epic 6% dump and pump, yup dump and pump that brought coinbase to its knees for a moment, we are now followed by the actual natural breakout to the upside. We now looking healthy to either slowly descend again or break the sloping resistance towards the next horizontal resistance.
-On the upside, 10200, 11100 and 12000
-On the downside, 9300,...
We currently painting the mother of all dumps of a candle that will easy match the 10% crash seen not long ago, next target 9100 and below. A reverse will see us back again on the meandering uptrend and downtrend that plagued us the past two weeks.
As always, Trade Safely, Happy Trading!
A word from our sponsors: This is no financial advice!
After breaking to 10200 as expected, we again trapped at yet another potential slow downtrend towards 9800, 9700,9600, 9400...bottom line we have created so much confluence with indecision there is no clear signs of a major break. Bitcoin is now trading more like a stable coin than the volatile monster that we came to know. I will be adjusting the orange slopping...
So far we following predicted moves, gradually moving down and respecting all supports, it may charge up at once or gradually keep crashing, so if you believe that we will bottom at 8000 wait for 8000 otherwise DCA at key points.
As always, Trade Safely, Happy Trading.
A word from the Greats: This isn't financial advice!
We currently squared off the way up with a similar way down from the latest high. Whats next then? We will rise back up and re-test the sloping resistance, if rejected we will bounce back down and re-test the sloping support and a possible drop towards 10000 given the current Haed and Shoulder pattern. Bulls will be awaiting that range as well and if they fail to...
Well, not much to be said here, looks a whole lot like the same scenario unfolding before us again, a long bull candle followed by a lot of indecision then came down crashing, but then as they always say:
Past performance does not indicate future results
As always Trade Safely, Happy Trading.