A big support at 9560 and strong resistence at 11540
Parabolic area formation remains
2 possible support zone if breakout. 8700/7600
Seems to be a long continuation after some weeks of lateralization.
Potential Bull Flag waiting to play out on the BTC
Expecting overall decline in volume to continue
until bottom of flag is tapped again and the
CME Gap (green circle) is filled
1M candle printing out an attractive inverted
hammer for August to add conviction to my
This implies we continue upward
after filling the gap and buyers...
Previous support has been broken (see the pink dotted line). CME Futures Gap (from previous chart) looks like it's providing pressure - from where we are now it appears that the impetus is to move towards the S1 Level. That's it from me today.
Just a heads up. The CME BTC1! Futures contract still has orders unfulfilled in the USD$7135 to USD$7375 price range. There is plenty of support just below this region. I would not be surprised if there is a flash crash to this area in the coming days followed by a run towards USD$9500
My idea :
There is some trader who find the trend base on future's contract sentiment.
I study this trend many time from the beginning of CME.
There 2 type of contract period 3 month and 6 month
I prefer focus on 6 month period as a main trend.
since i think 3 month period not a main future trend.
any discussion ? .... glad to discuss about it
The bull market model still remains promising.
However, over time there is a risk of triggering an alternative scenario.
Locally relevant buying from the level of 3930, 3830 with a stop loss at 3760.
If buy position closes with a stop loss, the alternative scenario will become the main one.
Price moved up. We expect a further increase in the value of Bitcoin in a bull market model.
The main level of change in the general market trend and wave marking is 3870.
Priority purchases from supports.
The price forms an ascending "wedge" model.
We expect to complete the construction of the figure near the price of 4050 and the beginning of the correction to the level of 3930/3830 (the level of buyers).
Stop loss - 3760.
Target purchases - 4600/4750/4900.
ATTENTION: is better to place purchase orders after the test level 4050.
The price made a sharp correction.
At the moment, we see all the chances of prolonging growth. You can buy at the current price with the objectives to close a position above 4600-4900. Stop loss level - 3850.
We assume that the medium-term correction is over.
We expect the continuation of the long-term trend.
Locally possible growth to the level of 4100 (sell level), after which we can expect a correction to the level of 3900 (buy level).
For the cryptomarket the year 2018 has begun with the global correction of all the currencies. The first futures for Bitcoin—the most popular currency—triggered institutional capital hedging through the conventional financial system.
A step towards accepting a digital asset into the conventional market created new opportunities for the future cryptomarket...
The price decreases in the narrowing wedge model. A trading plan involves the purchase of Bitcoin after the candlestick fixing above the model's border.
Locally expect testing of the yellow range, after which it is possible to implement a trading plan.
Within the framework of the idea, the price is rebounded from the middle of the channel and the sale with the target of 3500. Further, the recovery of the price within the medium-term movement is possible.