SmartCryptoAssociation

SmartCryptoAssociation

From our previous chart, the Bullish scenario outlined played out and now we are back in the resistance zone. Currently, we are looking to find good SHORT entries in the outlined red zone. We are looking for any weakness based on volume and divergences mainly, which seem to play-out with higher accuracy in the current market. Be careful of traps and squeezes...

SmartCryptoAssociation Updated 

BTC price is creating an ascending triangle inside an ascending channel supported at the golden ratio of 0.618. That in combination with the CME gap at upped 9K ranges creates a case for a LONG position as shown in the diagram. Keeping a tight stop-loss under previous support, makes this a low risk higher reward play. We are currently entertaining this position....

SmartCryptoAssociation

Our short from the previous chart based on divergence has been closed with beautiful 12%+ profits. We think there will be a retest of the previous support, now turned resistance, before more downwards action. The Fibonacci golden ratio also aligns well in the short term. Recognize that the price is still trading in a down trend and the trend is your friend, until...

SmartCryptoAssociation

BTC has entered a heavy resistance range. Can it break pass it? Maybe. However, we are also creating a bearish divergence on the RSI14. Price has been slowly moving up without any real pull-backs. We have entered a short at around 9.9 K. Stay Safe Traders! :)

SmartCryptoAssociation

Bitcoin has shown great strength and has already tested the top of the large channel. It currently looks a bit over extended for us and we are expecting a retracement. However, in the long term, BTC is looking to break this large descending channel and push up higher, potentially being the start of a parabolic market in the years to come.

SmartCryptoAssociation

Is the price of BTC ready to break out and test the highs of the channel or is there enough weakness to push the price lower to test the lows of the channel? We think the price is likely to fall because the price has slowly ascended while the volume decreased. This suggests that the market is not in agreement with the direction of the price. Also, the fib...

SmartCryptoAssociation

The bulls have defiantly showed their strength and it is something to keep in mind as the price was at mid $3000 ranges not too long ago. However, the is a descending triangle in the formation, inside of an ascending triangle. Ascending triangles break up and descending triangles break down, most of the time. We are still in out short from the last post, we...

SmartCryptoAssociation

- The resistance from the bears are still there. - price slowly moving up with descending volume We are looking for a quick short play. Stay safe, cheers :)

SmartCryptoAssociation

Bitcoin is currently breaking out to the upside. If the next 4h candle closes above the below red rectangle area, we would be looking for a long positions, if the price retraces a bit with small volume. This was meant to be a quick update, cheers!

SmartCryptoAssociation

The second option from our last update is playing out. We have also speculated on another price channel and trend based on the previous price action. We are looking to SHORT around $6.6K ranges, Stop-loss will be placed based on the invalidation of the new price trend by price moving up and then consolidating above the drawn descending channel. Happy Trading!

SmartCryptoAssociation

The bulls did not have enough strength in the current market conditions and the price was able to move down a lot with little volume. I has broken the up trend channel is retracing down. What does this mean? The price has lost a major support. There are 2 major resistance above the current price, outlined by the RED zone and the major supports are painted as...

SmartCryptoAssociation

Our channel has matured and now has set more accurate support and resistances in the current trend. Simple analysis of the trend and sticking to trading with the trend; the price is likely to move higher and a stop-loss can be set just under 6.2K . However, the current global crisis and massive sell-offs in the traditional markets heed a bit of caution! Can...

SmartCryptoAssociation

The bearish divergence from yesterday played out and the price moved down. Having multiple touches before a drop, the price respected the local resistance within the channel well. We are looking for a LONG, initiated by a bounce from the bottom channel. We will look to exit position based on the volume during break upwards, break of the local resistance within...

SmartCryptoAssociation

Price has made a higher high while RSI14 (oscillator) is forming a higher low in an up-trend. This is an indication of a bearish divergence forming and the price is likely to test bottom support of the channel.

SmartCryptoAssociation

Price is still within the channel, one more move up can potentially get the price to higher $7000 ranges. Observing the volume during the break of any trend-line now to enter a trend reversal position. If the price decisively breaks up from the inner descending trend, will look for a long. If the volume shows weakness as the price trys to move up, will look for a...

SmartCryptoAssociation

The price action has formed an ascending channel, as outlined on the chart, and ascending channels are highly likely to break down after 2 touches of the top of the channel. We are looking at the volume and RSI14 to to confirm if the price is likely to move up before a breakdown or is there enough weakness that the price will not set another higher high. Stay...

SmartCryptoAssociation

Higher LOW prices with Lower LOW on indicator during an uptrend is a continuation patterns. RSI14 is already in a lower low pattern and if the price respects the last local support and creates a higher low, it is highly probable that the price moves up. Volume is starting to indicate that it prefers to move up, which is a relatively bullish sign. This is by...

SmartCryptoAssociation

Prices is starting to form a an ascending channel for future price action. The key levels are $5.9K to $5.6K. BULLS - If price holds the key level range, price will get another bounce up. BEARS - If price loses the range, then price will probably play down like all ascending channels. As always, volume is the the confirmation, and so far the bulls have...