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BTCUSD: 2019 Repeating 2018 Bump and Run Bottom?BTCUSD: 2019 Repeating 2018 Bump and Run Bottom? - Bump and Run is the #1 most bullish chart pattern Per Bulkowski (thepatternsite.com) - To identify a Bump and Run, look for a frying pan base with a downward sloping line with a rapid drop then leveling out with a rotated turn. - "The bump height, as measured from the trend line to the lowest low, should be at least twice the lead-in height. Strict adherence to this rule is not required, but it serves as a good general guideline." - Lead In Height = 13500-9800 = 3700 - Bump Height = 12641-9175 = 3466 - This is our current situation, so it could lead to a throwback (maximum throwback level designated on the chart). This could form a second bump before breaking out to the measured target of top level of the lead in at ~13.8k and likely new all time highs after that.
BITSTAMP:BTCUSDLong
by corn_trader
BITCOIN - Breakout Confirmation Areas!As said previously in my analysis, the BTC price has drifted between the $3,950-$4,000 level more than 8 days with some small exceptions. The price has printed a nice consolidation area around the $4k (yellowish box) but it starts to show some weaknesses inside of this box. First of all, it is below the major counter trendline and if the 4H candle gets a close below of it then this would be the first bigger bearish sign but as you noticed then this is not the full confirmation because the price is still inside the yellowish area. The second, the third and the final bearish confirmations come as 2in1 and it comes after the 4H candle (4H candle close confirms more securely than the lower time frames candles) gets a close below the $3,940. Let's start from the beginning - after the close below $3,940 we get three breakout confirmations: 1. Break below the trendline/counter trendline: Currently, this black trendline has held the price multiple times and if it gets cracked then those counter trendline breaks have usually worked pretty nicely as short-term trend indicators. The overall and the bigger trend is still downwards (we have some signs that this could be over but not yet) and if this up-trendline gets cracked then the market starts to follow that bigger trend for a while - it depends how strong this trend is. Recently, BTC has made pretty nice movements and I could assume that this correction can't be so deep but we have to take step-by-step after the break. 2. Breakout from the consolidation ar ea: Usually, after the downtrend or after the uptrend price takes a pause which is called as a consolidation or a ranging market. Bulls and the bears fighting each other, no one can't win any bigger battles and that's why this area occurs. Now, if the price makes a breakout from either direction, currently downwards, then it will show that bears have won a battle around the area and they continue trying to push the price downwards. 3. Breakout from the bearish chart pattern called Head and Shoulder: H&S is a bearish chart pattern and it occurs at the end of the uptrend. The pattern gets valid after the candle close below the neckline. Currently, this neckline matching exactly with this consolidation box lower line and that's why I said that we get 2in1 confirmation after the candle close below $3,940 (and if it occurs right away, then we get even 3in1, because of the trendline break is also involved with this candle). On the 4H chart, EMA's 8 and 21 have made a death cross which will be a confirmation after You have seen a breakout. So, almost everything starts to line up to make a throwback (movement down) after the breakouts. The short-term targets are those blue areas below the breakout area. The price movements on the consolidation area are usually pretty unpredictable and that's why I would like to give you a bullish scenario/confirmation area. First bullish confirmation comes after the 4H(!) candle close above the $4k. So as H&S has a neckline, so other patterns have necklines as well. There starts to form a bullish chart pattern called Double Bottom: ...not a perfect one but it is readable, and it becomes valid after the neckline break which is exactly the round number $4,000. Here is also the 2in1 situation, firstly we get a breakout confirmation which triggers the bullish chart pattern and secondly we get a break above the round number. You have to watch also what the altcoins do, currently, they are all on the minus 'side' and if they start to climb above the daily zero points and BTC makes a breakout upwards above the $4k level then it would be another confirmation from altcoins - the whole market gets pumped! SUMMARY: Consolidation area is a risky and unexpectable trading area so, that's why is necessary to wait for a breakout which will guide the price into the short-term direction. Bearish scenario: A 4H candle close below $3,940 triggers 3 bearish criteria, plus we have EMA death cross. Bullish scenario: A 4H candle close above the $4,000 triggers the Double bottom chart pattern. Do not forget to support my idea post by hitting the "LIKE" button! Thank You! Have a nice day, Cheers! *This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
COINBASE:BTCUSD
by VaidoVeek
25
Bitcoin 7.1k soon!Bitcoin has recently tested 6.8 and bounced back to where it started the wave from, the pump was created by Bitmex being down and many of us are calling it an exchange manipulation and the dump was due to ETF rejection by the SEC. But we all was know that there are technical factors which indicate all this moves, and if you look at my chart from 14/08 you can see that there was a reversal pattern and Bitcoin has already confirmed this reversal, so the bounce from 5.8k area to 6.5k was the first wave and we had our retracement after that so we started the next wave which tested the 6.9k area but due to exchange and news manipulation we got dumped back to the start of the wave and now we are looking for move up again and if this wave was to be cut down to smaller waves, wave 1 was testing the 6.9k and then wave 2 which can retrace full of wave 1 already took place which took us back to 6.2-6.3k, and now the third wave should take place which should be the biggest impulse so I see this impulse taking us all the way up to 7-7.1k. We can see bullish signals not only in the pattern BTC has made but also in the indicators which are EWO, STOCH and MACD. EWO we can see the red waves coming to and end and the big green wave we had after the retracement indicate start of a new cycle upwards and the red waves we had were just the retracement or wave 2, and the next green waves are expected to be larger so wave 3 is coming and is coming hard! MACD bullish divergence is shown on the chart since the end of the retracement! 4h,1h STOCH moving from oversold area up which is another bullish signal ! Good Luck, Traders! #moon #mooncommunity
BITFINEX:BTCUSDLong
by farhadjafarov7
#Bitcoin #Btcusd When to go long or stop shorts ?When to go long? Three choices on my 2 hour chart. They are all points which had great significance in my thinking to go short. Williams Fractals (50% $7,367.6 H =$8,120.2), (50% $7,037.3 H=$7,509.7), (50% $6,991.5 H=$7,189.0). I cancel all my thoughts about shorts with a stop $7,189.0. Review going long. Can always short again later. Those 3 points on the 2 hour chart would also apply to the 4 hour. Bollinger Bands also narrowed on 2 hour chart to indicate that a touch of the bands either way would signal direction of market (sometimes can be false and you need a strategy to deal with). It's already done that once on the 2 hour chart indicating a possible break higher. If it did that again or broke beyond the previous touch could use that as a closer stop. The 4 hour chart also has bands close enough that if price touched would indicate where price was heading next.
BITFINEX:BTCUSD
by UnknownUnicorn2181194
More Big Picture Williams Fractals Mashed Into Daily BarsInteresting observation. I created two yellow bands for the two William Fractals mentioned in previous postings using the high and low and what's interesting for those who like counting is that price closes in and out of the bands between 4 to 9 days. I'd say the odds of Bitcoin dropping out the box are increasing by the day. I've marked with two big fingers one interesting pattern where price failed to hold on to the 50% mark inside the bands. Blue up and down arrows relate to where on the 2 hour chart price touched upper or lower Bollinger Bands (see previous postings). Fib extensions relate to high low of Williams Fractals within the bars circled but on the 2 hour chart (see previous postings).
BITFINEX:BTCUSDShort
by UnknownUnicorn2181194