Intro: Bitcoin has broke our major support line triggering our bearish move yesterday. We tighten our stop loss to protect our profits while riding this move down. Sell below 10356. Stop loss at 11015. Take profit at 8909. Reason for the trading strategy (fundamentally): The big news today is the L’Authorite Des Marches Financiers (AMF), which is France’s...
Bitcoin has dropped to our 1st major support as forecasted and is now bouncing off it strongly. Our 1st support is at 10319 (Fibonacci retracement, horizontal overlap support) and our major resistance is at 12970 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension). Stochastic (34,5,3) is seeing a nice bounce above 7.2% support with good...
Intro: Bitcoin has broken its ascending support but requires one more major support to be broken to trigger a sell off. Sell below 10356. Stop loss at 11300. Take profit at 8909. Reason for the trading strategy (fundamentally): One of the latest news surrounding cryptocurrency is what Venezuelans are saying about their new national cryptocurrency, Petro. This...
For all the professional traders that are calling for BTC to go to zero - I say, these traders aren't even obeying their own technical analysis tools, which are supposed to predict future trading patterns based on human behavior. If one uses these tools, we can clearly see that BTC has been trading in a channel ever since the beginning of 2017, and, but for the...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Intro: We’re still bullish on bitcoin as long as it remains above our ascending support line. Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding cryptocurrency trading comes from South Korea which appears to be softening its stance on cryptocurrency trading. Choe Heuing-sik,...
Bitcoin is now testing our ascending support line which has been holding price up in its recovery since the beginning of February 2018. This is definitely a key support as if price breaks it, it would be a strong precursor to a bearish move. Drawing some correlation from our Etherium (ETHUSD) idea, this level has to hold otherwise we're seeing a potential larger...
We were watching our ascending support line really closely yesterday and price has finally broken below it. This is usually a sign for a potential change in momentum to bearish. Our 1st major resistance is at 907 which is a pullback resistance level. Our next major support is at 778 which is a 50% Fibonacci retracement and a strong horizontal swing low...
Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): The latest news surrounding bitcoin involves Israel confirming it will tax bitcoin as a property, meaning that it is treated more as ‘a property, not a currency’, making it therefore taxable as such means profits from cryptocurrencies will be subject to...
I've added Williams Fractal to my charts. Question - do we need another Williams arrow down before the next up leg? MACD looking good to go.
Have just added in a trend line from my 4 hour chart to the 2 hour chart just in case I need to switch because to a key Bollinger point for me just below $10,100 on the 2 hour chart is looking vulnerable. Otherwise no worries.
Just thought I would update my earlier charts add some more arrows and what happened last time just in case price heads back down to a key Bollinger point for me just below $10,100, but trend line still good. No worries.
Bitcoin has continued to rise nicely and we’re seeing an ascending support line hold up prices really well. Our 1st major support is at 10319 (Fibonacci retracement, horizontal overlap support, ascending support) and a strong bounce could occur at this level to further push price up towards 12970 major resistance (Fibonacci retracement, horizontal overlap...
Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): Cryptocurrency has risen recently but recent news has poured some cold water on its recovery, especially White House cybersecurity coordinator and special assistant to the present, Rob Royce, saying that legislation around cryptocurrencies is unlikely to...
Just added another arrow to chart to show most recent time crashed through MA to lower Bollinger line, otherwise based on previous pattern market will hold at MA area or head back down till it makes contact with lower Bollinger Band - Support area. No worries. Upward trend lline still intact.
Based on previous pattern market will hold at MA area or head back down till it makes contact with lower Bollinger Band - Support area. No worries. Upward trend line still intact.