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Bitcoin Daily Update (day 175)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to get my complete trading strategy and click here to learn more about how I use the indicators below! Please be advised that I swing trade and will often hold onto a position for > 1 month. What you do with your $ is your business, what I do with my $ is my business. 1 day: $6,000 retest (any day now) | 1 week: break down $5,750 | 1 month predictions: < $5,000 by 9/5 (may need to adjust) | bottom prediction: $3,000 by 10/30 Previous analysis /position: Alarmed by divergence in weekly CMF’ and the buy signal on the 3d stoch. Still felt confident in the mounting resistance and felt that a good risk:reward short sale was on the table (specifically once bear flag breaks down) / Short ADA:BTC | ETH:USD | ETH:BTC Patterns: Bear flag forming after triangle breakdown Horizontal support and resistance: S: $6,350 | R: $6,436 - $6,480 BTCUSDSHORTS: Going for a retest of the all time high. Something to keep a very close eye on. Funding Rates: shorts pay longs 0.0561% 12 & 26 EMA’s (calculate % difference): 12 = currently being tested for resistance | 26 = -3.41% 50 & 128 MA’s: 50 = -6.85% | 128 = -13.69% and starting to angle downward Volume: Daily still well below MA. 4 hour had 2X average volume on recent sell off, and is declining on bounce. Hourly had roughly 4X volume on sell off. FIB’s: 0.618 = $6,500 | 1 = $5,966 | 1.618 = $4,422 Candlestick analysis: Weekly hammer. Daily candles are showing a lot of indecision. Reversal candles provided a bounce on August 17th but it immediately retraced. Ichimoku Cloud: Fully bearish. Watch closely for price to breakthrough Tenkan-sen as a sign for a reversal. TD’ Sequential: R3 = R2 on weekly | 3d just made bullish price flip | R2 = R1 on daily | 12h just had bearish price flip | G2 briefly > G2 on 4h Visible Range: Point of control over last 6 months is $6,377 and that is a crucial area of support or resistance (depending what happens in the next couple days/hours). Gap at $5,000 is begging to get filled before this bear market ends. BTC’ Price Spreadsheet: 12h = +2.01% | 24h = +/- 0 | 1w = +3.9% | 2w = +2.53% | 1m = -12.04% Bollinger Bands: Daily MA at $6,500 should be strong resistance Trendline: Bear flag Daily Trend: Chop Fractals: Two up fractals at $6,593 indicates strong resistance. Two down fractals at $5,952 indicates strong support. On Balance Volume: Weekly bull div’ + double bottom. No div’ on daily. ADX: Weekly ADX is creeping upward while +DI is starting to angle downward. Daily ADX is flattening out after forming lower highs and lower lows. Chaikin Money Flow: Weekly CMF’ has a very significant bull div. Could also indicate overbought conditions. RSI (30 setting): Weekly = 48.84 | Daily = 45.21 Stoch: %K crossing below %D on daily was only a fakeout. %K starting to diverge after making bullish cross on 3d. Still pulling back on weekly after making lower high. BTCUSDSHORTS Summary: The short sellers approaching an all time high and the current rates they are paying is making me feel uncomfortable with the leverage shorts that I am holding. Not to mention the beautiful weekly hammer candle that recently close.That has made me seriously consider closing my positions for the since time since they were opened. However, it still feels premature. Last time the short sellers made an ath’ they continued to rally for 4-5 days. There is a serious cluster of resistance on top of us and instead of closing out I am going to be adjusting my stops. For BTC I am looking at $6,650 - $6,850. For ETH $326 makes a lot of sense and 0.051. If you are not in a position then I would wait to sell pump if/when we get short squeeze.
BITFINEX:BTCUSD
by Sawcruhteez
1
Bitcoin Daily Update (day 171)I believe that it is possible to beat the market through a consistent and unemotional approach. This is primarily achieved through preparing instead of reacting. Click here to get my complete trading strategy and click here to learn more about how I use the indicators below! 1 day:Resist below $6,567 | 1 week: break down $5,750 support | 1 month predictions: <$5,000 by 9/5 | bottom prediction: $3,000 by 10/30 Previous analysis/position: / Short ADA:BTC | BCH:BTC | ETH:USD | ETH:BTC Patterns: Bear flag / descending triangle Horizontal support and resistance: R: $6,567 | S: $6,100 - $6,250 BTCUSDSHORTS:Testing 30,750 for support. If it can create higher low then watch for ath’ retest. 46% long and 54% short.. Funding Rates: Shorts pay longs 0.0258 12 & 26 EMA’s (calculate % difference): 50 & 128 MA’s: 50 = -7.18% | 128 = -14.45% Volume: Has been declining over last couple days while price rises. FIB’s: 0.618 = $6,554 | 0.382 = $5,316 Candlestick analysis: Wicks from last two days being re explored today. Could provide a favorable r:r entry. Ichimoku Cloud: fully bearish TD’ Sequential: Daily G4 Visible Range: Point of control over last 24h = $6,400 | POC over last 5 days = $6,300 | Low volume node > $6,600 with1 month look back. BTC’ Price Spreadsheet: 12h = +0.77% | 24h =+0.87% | 1w = +3.68% | 2w = -7.43% |1m =-11.81% Bollinger Bands: Daily MA is at $6,888 provides great confirmation that we will not break that level of resistance Trendline: Connects bottom of 7/23 to 8/10 Daily Trend: Choppy Fractals: Down = $5,870 | Up = $8,300 On Balance Volume: Broke through resistance while price remains in flag ADX: -DI & +DI are converging while ADX bounces off 25 Chaikin Money Flow: Broke down major support and now looks like it is trying to turn it into resistance. RSI (30 setting): Supported 40, will it be able to retest 50? Stoch: %K and %D > 20 | How far will they make it? Summary: My major concern over the last couple days has been the imbalance between the shorts and longs. Not everyone can make money at once and if everyone is short then… Over the past week we have been approaching levels that are similar to April 12th when we got a massive short squeeze. Now it looks like the bears and bulls are finding an equilibrium and that should allow the prevailing wind to break down $6,000 support. If not in a position then wait for the bear flag to confirm with a breakdown of ~$6,150
BITFINEX:BTCUSDShort
by Sawcruhteez
All these longs will have to close at some pointBitcoin's surge seems impulsive for the moment. Don't get too confident (for bulls) or scared (for bears). This is a normal bounce since we bleeded from 12k to 7.2k without retracement. We have many resistances to break before being bullish again. Remember as well (see chart) that these longs will have to close (and thus sell). If BTC 4.30% 4.33% lacks of new buyers, then price will stop rising and will eventually go back down
BITFINEX:BTCUSDShort
by CryptoTrendy
2
ETC riding long until possible correctionIf you bought ETC the 6th of February and still holding them... Well done! Looking to the history of ETC we can see patterns tend to repeat themselves strongly. Seen the ETC self volume increase of almost 80% on Bitfinex we see the current focus is definitely on ETC. While the trading volume of the crypto's are low, slow and slightly sideways atm.... ETC's trading volume is not. We might see a final rush towards $34 - $35 in the next 4 - 6 hours before correcting towards $30 - $28. Long for now until the final blow where I will gladly grab my profits and go short until support is found. Please correct me if I'm wrong or if I missed something.
BITFINEX:ETCUSDLong
by Vidalis
EURUSD > Trade AnalysisEURUSD - October 2017 Trade Analysis Timeframe: 1M Expecting uptrend to continue toward 1.1910 - 1.2037 levels considering that 1.1744 - 1.1712 support levels hold. Expect downtrend to begin as price falls below above support levels. Firm break and hold of 1.1744 - 1.1712 levels will open path toward 1.1612 level. In longterm, October, 2017 price range expected between 1.1900 - 1.1540 on average. Closing price at end of month expected @ 1.1720 levels. * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59
AMZN: Short it here, antitrust law discussion might affect itI think it's a good time to revisit the idea of shorting bubbly large caps, in particular ones with a good fundamental backdrop, to both profit from the decline in them, if it comes to pass, and hedge our risk in other long positions we hold in our portfolio. I'm focusing on $AMZN here, which has the lowest risk from my perspective. For a great breadown on it, check out Tim West's post in related ideas. The weekly upside is exhausted and implies a slow period, either a correction or consolidation for a few more weeks still. The recent run up, on the back of dovish comments from Janet Yellen, give us ample opportunity here. So, in general, I don't advocate shorting stocks, mostly because of sentiment, and the bullish signals and valuations of many companies, but other stocks do justify the concern, to name a few, $NFLX, $AMZN, $AAPL, $GOOG, $MSFT, $NVDA, $WYNN, $WST, $HD, $BBY, $MU...The recent talk of net neutrality, and now antitrust laws, might stifle some volatility in internet related stocks, and specially big behemoths like $AMZN. As a counter argument to this, sentiment remains negative for the most part, which could imply further upside to be tapped soon, according to the AAII sentiment survey data: www.aaii.com The government and the fed can pull the plug though, ultimately, and if $AMZN does trigger a reformulation of the antitrust laws, it is in for a heck of a drop. In the long run, we will have losers, but it's always good to take a valid trade opportunity, as scary as it may seem, specially if it helps balance our portfolio risk, and help bring us down into reality again after being right in most things. Best of luck, Ivan Labrie.
NASDAQ:AMZNShort
by IvanLabrie
EURNZD Bullish 2618 to Bearish Bat + Gartley + ButterflyEURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging. Trade 1: Bullish 2618: Entry at the 61.8% retracement level SL is placed below the double bottom Target is taken at the 127.2% extension Trade 2: Bearish Bat + Butterfly + Gartley Entry in the center of the PRZ TP at .618CD (or move to B/E at this level and let the trade run toward the bullish shark completion) SL outside of 113% XA Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer