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BTC in up trending wedge in an overall downtrending channelBTC continues to work its way up the up trending channel that's formed since BTC bottomed in March. That being said, it's a structure that has formed in an overall downtrending channel so, I expect some more downside with BTC consolidating on or around the targets on my chart. However, that doesn't mean that BTC won't test the top of this upwards sloping channel before the "big" breakdown, so $8K is in play, in the short/medium term. However, if BTC can break the top of this greater downward sloping channel and consolidate on top of it, that will be the sign that BTC will head for new all time highs as this structure does imply an eventual retest of $14K. In the meantime, there is probably more emotional highs and lows ahead for us all. Good luck trading.
COINBASE:BTCUSD
by LTSInvestor
1
BTC Short term Pullback Presenting a Classic Long Pattern?How do we categorize the current pullback in BTC? All market movements under Elliot Falls into two logical Classes - Impulsions (Trending and Terminal Patterns), which occur in the direction of the trend. When analyzing short-term market movement, Impulsions can be monowaves. Corrections (Non Trending Patterns) which occur against the trend, or what we are seeing now with this corrective pullback. Corrections can also be monowaves but, if more complex, will generally appear as sideways consolidations on a price chart and are usually composed of three (3) segments. Or an A,B,C corrective waves. Conclusion: BTC is presenting some favorable Risk & Reward 1:4 with this pullback. Look to establish longs with STOPS well below 78.6% , refer to chart for price level. Important Takeaway as a Trader: Make an absolute, immediate decision on current and future market possibilities when the markets is presenting unique patterns to the application of the Wave Theory.If you are holding BTC longs, it increases your ability to determine when a pattern has completed. And the most important aspect of identifying Impulsive or Corrective monowaves is that it allows you the ability to deduce the trend of a particular market.
BLong
by wallstreetsharks
BTC Fib Retracement ProgressThe Fibonacci retracement from the week's high of 10.5k USD is approaching the resistance level found currently at 9755 USD on a low time frame. This means that by close tomorrow we will see whether or not the resistance level can be flipped. A close of any two consecutive green candles above that level in the next 24 hours would suggest the price will rise around 150 USD to ~9900 USD quickly. Rejection at the .382 level would be the third candle on this 4H TF in the last 11 candles, or just one candle shy of 48 hours, indicating the resistance is too much and the support floor at 9575 would likely be next to break in a breakout downwards.
COINBASE:BTCUSD
by Bitcoinboy
A little analysis on DASH 2hrthere are 3 trend lines I saw and drew, the first is gold, 2nd is blue, 3rd is purple. At trend line 1 after the first intersection the price bounced up. Trend line 2 after the intersection, same thing happened. Trend line 3? well they call it a trend for a reason lol It seems that were headed back towards the supporting line on the most recent trend line (3). If it holds that support then the price will move towards $117 - $120. If we do not hold support then we are looking at levels around $85-$90. However I do believe that the symmetrical triangle that is forming on trend line 3 is an extremely bullish signal! Especially since we just had a massive pump on 12/14 - 12/15. If you have any questions please ask away or if you disagree let me know. Also I am trying to get my name out there so if you wouldn't mind hitting like if you liked my post This is not investment advice... Im just some random on the interwebs
BINANCE:DASHUSDLong
by Stonks_Up
4
Ripple short-term growthRipple / USD, looks interesting for buying. . Technically, we have updated a new low, at which an extra volume is observed, after which statistically in history we see at least short-term upward movements. In addition to this, the RSI indicator is confidently in the oversold zone, which also strengthens the position for purchases. . Considering the price-action, a reversal pin-bar has formed on the chart, supported by a good volume at the new local bottom with a combination of oversold many indicators. . We consider this deal adequate, long with a good risk-to-profit ratio (1x4)
BITFINEX:XRPUSDLong
by Neironix
NEED TO BOUNCE !!Hi everyone!!Sorry that I wasn't able to post for the last few weeks. But I am back. Lets dive in to the chart. So we have broke the trend line and have been staying above it for a while now. After we broke the channel we are now testing the trend line as a support. Which is also aligning with 200 EMA. Which makes it a strong support. However we still have downward pressure from the 50 EMA and we are stuck in between these two. People have been complaining that we have been moving side ways, however i believe we are about to see another big move. So whats my thought process? I believe we could enter a small position at these level and wait to see a movement upwards. The confirmation of the movement will be breaking 50 EMA and closing above it. Then we could increase our position. However we are at critical levels, so keep your stop losses placed, since if we break below 200 EMA and the trend line we might see a big drop. Always place your stop losses before entering a trade. A sudden drop WILL hurt. The way that BTC made a 40% jump it also can make a 40% drop. So stay safe!! As always just a thought not a advice!! Previous Analysis:
BITSTAMP:BTCUSDLong
by Behzadin
$BTC ANALYSIS - Bitcoin's Hidden Decision PointBasically we either bounce off the "Last Hope" level and create a new recent higher high (then moon), or visit the lows of the descending triangle again; which then has a very high chance of failing after so much pressure over the last few months. I am long off this "Last Hope" support, with a stop just under the same support level. *Even though it is a bearish pattern forming, I am long because: - It has not been confirmed. - The Risk/Return is very high for a long here, shorts won't deliver as high a %. *Always be prepared to counter-trade your bias.* If we lose the triangle floor, then we visit 6k or less IMO. Hate to say it, but I will be very net short if we close below the floor of the triangle. I do think the bounce we saw from the traingle floor was pretty weak tbh... doesn't fill me with much confidence here. As soon as I get stopped out on a move down, I will be looking for slow/weak bounces to short into (or wait for the floor to fail). Let's hope that short never happens. Pray for my long.
BITMEX:BTCUSD.PLong
by Pillarstric