Low timeframe sell signals on BTC here.
As expected BTC is testing the daily 50EMA.
It will likely reject and retest the 52k area before any decisions are made.
I'm looking to enter at around 52k for another scalp.
A lot of opinions going around about possible downside continuation on BTC. Here's my take:
BTC has very clearly broken its uptrend, seen by the crossunder of price and the SUPER-MA.
Many daily indicators also looking pretty bearish. Doesn't mean much though, since indicators just give us an "indication" and nothing more.
Currently sitting at the...
I see a clear upwards trending channel.
BTC might have just broken above the mid-line and is retesting the midline.
For now, looking for entries around the channel mid-line, roughly $62400.
If that doesn't hold, there is a chance that we go lower to revisit support or the lower level of the channel.
Bullish until proven otherwise.
Enjoy your week. I...
Very similar pattern here for $OMG and $STORJ.
Price of OMG is retesting the old highs and I think it will bounce off quite nicely.
Superstrength Index also showing bullish signs.
Entry around this level.
SL just below old high.
Target 1 = $15
Happy Trading. ;)
GRT is currently sitting nicely at the top of this channel.
If it breaks up, entry will be at retest of approx $1.85. with a SL underneath the upper channel limit.
My indicators are starting to look bullish again on the daily and 4H timeframes, so potentially a breakup here.
I came across this chart a few days ago and saw @vajolleratzii talk about it again today on Youtube so I wanted to point out where Bitcoin ACTUALLY is when you take USD inflation into consideration.
We are currently just about at the same level as the 2019 highs, which is likely to prove as a short term resistance level.
I've been running several algo's (only super_simplified versions here on TV) at the same time attempting to compute Probability distributions (DL based on SVM) of a mean reversion for COINBASE:BTCUSD at this level, and using Convolutional neural networks, to map current price action patterns with historic chart patterns across multiple sectors.
Based on my indicators and my personal gut feeling, I think we are likely going to retest the Support (old ATH) at roughly $42200 with a quick relief, then bearish retest and then shuffle around in the 40-48k area for a while before entering (A.) a slightly deeper correction or (B.) resuming uptrend towards the 60k+ area.
My personal feeling:
Volume has been...
TA algos looking good for this one.
- Established support.
- Increased volume + solid move up.
What to expect: Small consolidation. (retest) - then move up.
Target: $7 mark
Don't take my word for it. Program is the one calling it, not me.
Don't forget, market is way overheated these days. Pullback coming sooner than later.
I think we are almost ready for a cooloff across the board for our Altcoin friends.
2 of my most accurate indicators are showing signs of overheating. I think we will see a consolidation period towards the ATH.
Look out for Mid April/may as local bottom.
Based on PA only,
The BTC/USD pair is currently forming a classic Wyckoff Distribution (Top Formation). This setup may indicate a short term top & trend reversal.
Furthermore, RSI hinting at bear divs on 1,2,3,4 hour timeframes.
Not financial advice ;)
I'm seeing similar vibes to May for the BTCEUR pair.
A consolidation at this range would be an extremely bullish sign for Bitcoin, also allowing room for some money flow into Altcoins again.
Let's see what happens.
Based on Moving Average trend analysis and backtesting, price is more likely to retreat lower towards the 200MA at $15700 (4 hour chart).
Long Entry @ $15700
SL @ -5%
TP @ $17000 (8.2% Profit Target)
Happy Trading. :)
Looks like momentum is slowing down based on lower highs on RSI (4 hours) and backtesting previous patterns on the 4h chart.
I'd expect choppy action to continue for while (further relief for ALTS), followed by a sharp 20% selloff as soon as price converges with the 200 EMA.
2 levels I'm looking at are €11500 and €10600.
(Not financial advice. Just some ideas. :)