Sell below 10478. Stop loss at 11223. Take profit at 9328. Reason for the trading strategy (fundamentally): The biggest news that has driven Bitcoin lower recently was Facebook’s new policy that bans advertisements involving bitcoin and initial coin offerings, citing that they are frequently associated with misleading and deceptive promotional practices that are...
Bitcoin has started to test major resistance at 11962 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down to at least 9470 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding...
yes i know i justed posted a post with btclong... but that was before it broke this line in does not look good at all, might see a 9.7k or so
Bitcoin has started to drop really nicely from our major resistance at 11962 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a further drop could occur to push price down all the way to 9470 support (Fibonacci extension, horizontal swing low support). It is important to watch the key ascending support which could result...
Sell below 12198. Stop loss at 13109. Take profit at 9328. Reason for the trading strategy (fundamentally): We are filled with more bearish news which has continued to drive the price of Bitcoin and the confidence in cryptocurrencies down. The latest being the securities commissioner of Kansas issuing a warning on the risks of cryptocurrencies and ICO...
Chart shows two double bottoms and if the latter double bottom follows the former, BTC should pump and hopefully reverse to a bullish outlook. Chart also shows an ABCD pattern which also shows a bullish trend. I expect price to reach at least $14,000 and use the $12,000 area (current resistance) as support once it breaks out. CME contracts expire tomorrow...
Sell below 12198. Stop loss at 13109. Take profit at 9328. Reason for the trading strategy (fundamentally): The security of cryptocurrency has been hit once again with tokyo-based cryptocurrency exchance Coincheck confirming that It has suffered what appears to be the biggest hack in the history of the technology, losing $533 million. While this doesn’t...
lets hope bitcoin can break this long and destroying down-trend!!
Bitcoin has tested our descending resistance and continues to test major resistance at 11790 (61.8% Fibonacci retracement, horizontal overlap resistance, long term descending resistance line) where a strong reaction could occur at this level to push price down towards 9470 support (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing...
Sell below 11786. Stop loss at 13109. Take profit at 9328. Reason for the trading strategy (fundamentally): There has been slightly more good news coming in lately which is causing Bitcoin to hold well above the 10,000 mark. Good news revolve around Singapore’s MAS (Monetary Authority of Singapore) believing bitcoin won’t cause a financial meltdown like the 2008...
Bitcoin is fast approaching major resistance at 11790 (61.8% Fibonacci retracement, horizontal overlap resistance, long term descending resistance line) and a strong reaction could occur at this price to push price down towards 9470 support (Fibonacci extension, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 96% where a...
Sell below 11786. Stop loss at 13109. Take profit at 9328. Reason for the trading strategy (fundamentally): There hasn’t been positive news nor negative news on Bitcoin recently with the latest one being Goldman Sachs CEO denying that they were going to launch their own bitcoin trading desk. We’re seeing a bit of a squeeze around the 11,600 range area and when...
Sell below 11083. Stop loss at 12029. Take profit at 9443 and 8142. Reason for the trading strategy (fundamentally): There continues to be bearish news surrounding Bitcoin with major payment processor Stripe choosing to end support for Bitcoin. This is largely due to lengthy transaction times, increasing transaction failure rate and growing fees has caused it to...
Bitcoin is in a strong descending channel and we’re seeing major resistance at 11016 (Fibonacci retracement, horizontal overlap resistance). Our next major support is at 9470 (Fibonacci extension, horizontal swing low support). We remain bearish as long as price remains in this descending channel. Trading CFDs on margin carries high risk. Losses can exceed the...
Sell below 11083. Stop loss at 12029. Take profit at 9443 and 8142. Reason for the trading strategy (fundamentally): News around cryptocurrencies have not been too positive recently. The latest being Korean crypto exchange Korbit banning non-citizens from depositing local currencies on its platform. The move was particularly because of new regulations banning...
Im Still short on bitcoin. Looking for it to hit around $8700 with a possible break lower down to the $6000 range. Long term Bullish unless break below $5000 with a solid daily close. Explainer Youtube Video! HERE or copy and paste: youtu.be
Bitcoin bounced right up to our first major resistance perfectly as forecast previously! It is now right on major support at 11060 (50% Fibonacci retracement, horizontal swing low support, Fibonacci extension) and a strong bounce could occur at this level to push price up to at least 12912 resistance (Fibonacci retracement, horizontal overlap resistance, Fibonacci...