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Bitifnex

#Weekly: Bitcoin and the global trendTurn on the logarithmic graph. Invert scale. Imagine this is shitcoin. Global_trend was broken for the second time (Aug 17, 2015 & Mar 9, 2020). Buy or sell? If you see such things on shitcoin, you buy, increasing your position as you approach the orange zone. Forget the inverted chart. Go back to bitcoin. Observe the downtrend (price peaks are falling: 20k > 14k > 10k > 8k?). Think about the virus, global recession, crude oil's negative prices. Bitcoin is not a hedging asset. Summary: slow short. Cancel and buy when the price returns to the global uptrend (descent below the orange line on the current chart).
BITFINEX:BTCUSDShort
by antipanicos
BTC – magic proportion 0.85 supposed to be in forceHi Guys! So again we had a big move up till $8500 during last weeks. It wasn’t that optimistic as the rest of altcoins didn’t show strength. Do you remember our hypothesis with subsequent heights? We noticed that since December and 20K for one BTC each peak had ~85% in value of the preceding top. It turns out it works this time too. We reached $8500 which is exactly 85% of the last top at $10000. For details please look down below on this analysis (BTC – Magic proportion 0.85) Unfortunately the price has dropped down. We observed red line on the chart which is TenkanSen - a part from Ichimoku Cloud. There was a chance to jump again above this line but after very last drop down the best thing we can do is to sell and wait till it gets back above TenkanSen. Moreover as you look at Weis Waves chart you can clearly see what’s going on. Demand has evaporated step by step (Waves 1-3) and supply is gradually growing. In such scenario we should safely wait. We expect the bottom at around $5500 -$6000. That is satisfactory level for re-entry. HODL your horses. Stay cool and vigilant. Next breaking up should be significantly bigger than this. :) Thank you for your comments, private messages and likes. :) Do not forget to follow! HUGE HUGS! WBM Team
BITFINEX:BTCUSDLong
by WBM_Team
5
IOTA/USD LONGLooks like IOTA is forming a falling wedge bullish RSI divergence gives us extra confirmation 2 ways to trade this move: 1) We place a buy order above resistance of the falling wedge, if it breaks up, the falling wedge is in play, our buy order will be triggered and we ride the wave to $1.8 resistance + 100 MA 2) We wait for a reversal candle at $1.642 support + support trend of falling wedge to go long, this will able us to place a tight Stop loss under $1.642 support and again take profit at $1.8 resistance + 100 MA
BITFINEX:IOTUSDLong
by Grimland
DASH - Sell now and wait for next entry levelHey Guys, It's not a good day at work! But we got to put our head in place and make the right decision to save and earn more. I hope my last 2 posts would have helped you do the same and if you did follow me on those posts, you would be completely unaffected with the crash as we suggested to HODL USD. Look at the crash as a buying opportunity and if you are sitting at losses, its always advisable to invest more and average out your prices. DASH is an amazing coin and it has a very bright future. A right entry can make you loads! We are looking at the first entry level at Point (A) as it meets its EMA 50. However, as the market is still bearish, we might get another entry opportunity at Point (B). It's a very important point as it hits the 0.618 FIb retracement level where a bounce back is almost confirm. I would still advice to always study the market situation before making any moves. Do write to me if you need any further information. Happy Trading!
BITFINEX:DSHUSDShort
by forayushshah
Possible H&S and reverse of ultra-short downtrendUnfortunatelly 625 level didn't hold. So last chart () is a filure. My second possoble-shortterm trendline (purple-blue) fallen as well. Today I finally recognized 4h H&S pattern which - if we dived deep, below a neckline on 616$ - would mean next, agressive move down, to 590 level even. For now neckline is fine, not broken, so we can theoretically turn upward here. Resistance expected on 636, 658-660 levels. After that, we can jump in to 700 level even.
BITFINEX:BTCUSD
by pumped_bull_rtrabski
2