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BTC/USD (Bullish descending channel?)BTC/USD -Bitcoin failed to break downward trendline resistance -but manages to trade inside this bullish descending channel -200MA is acting as dynamic support on a 4H chart -technically, Bitcoin is on a 4H downtrend -key immediate support must hold is the 6400 area -if current price failed, next key support is at 6200 zone -trading inside this channel is shorting the top and longing the bottom -using tight stoploss on every trade -as long as the price remains inside this channel, trading is choppy
BITSTAMP:BTCUSDLong
by PolarHusk
3
BTC/USD (Bullish pattern; target 8k?)BTC/USD Bitcoin proves today that the bulls are still interested in the market despite the whole sector's uncertainty. BTC is technically forming a bullish ascending pattern which has the probability of breaking to the upside if the flat resistance is broken with convincing volume. Trading with patterns without confirmation breakout is a high risk especially during this time. The safest way to enter this trade is to wait for the breakout confirmation Long position or if you want to be an aggressive Bull. Entering a long position with a tight stop-loss below the previous higher low at 6200 dollars.
BITSTAMP:BTCUSDLong
by PolarHusk
3
BTC/USD (Must break bullish or drop -15% below)BTC/USD Bitcoin is still floating inside this consolidation phase where the price is just trading sideways with a flat line of resistance at 6800 areas. The priority remains to the upside for as long the trend-line support and the 50MA on the 4H time-frame holds. No major red flags on Bitcoin but only showing some minor weakness because the longer BTC stays on this level the weaker it gets as the Bulls unable to break resistance the soonest possible to confirm strong upside momentum.
BITSTAMP:BTCUSDLong
by PolarHusk
5
BTC/USD (Bullish pattern; awaiting confirmation)BTC/USD Bitcoin is facing minor rejection at 6600 but the price action is trading above 100MA inside the ascending pattern. If BTC can hold this level for the next 24-48 hours, we could see a potential breakout to the upside as the bears failed to drop the price during its consolidation. A trading strategy here is to wait for the break of resistance and open a long position. The target is up to 8k price and stop-loss below 100MA.
BITSTAMP:BTCUSDLong
by PolarHusk
2
BTC/USD TA Update (healthy pullback?)BTC/USD BTC finally shift the 4H trend to the upside after making its 1st Higher High and currently topped out at 7100 areas. The bulls have a lot of room to establish its next potential Higher Low between 6000-5600 regions. We may expect BTC to hover within this area for the next 2-3 days before another attempt to push higher. The bullish scenario will remain intact as long as the key trend-line support will hold. No red flag today, bulls are patiently waiting for the next long opportunity.
BITSTAMP:BTCUSDLong
by PolarHusk
1
BTC/USD TA Update (bullish short-term pattern?)BTC/USD Bitcoin is holding strong the price range between 5200-5400 zone and looks to be forming a bullish ascending triangle as the price keeps making a series of higher lows. BTC just had a bullish MA cross of 50 & 100 moving averages on the 1H time-frame. This signal short-term shift in momentum to the upside but still not confirm until immediate resistance at 5500 areas is broken. If Bitcoin can confirm a bullish breakout in the coming few days. The upside target is between 0.5-0.618 fib resistance or 6k-6.5k zone. When most indicators show extreme fear and oversold conditions we likely see a relief temporary bounce. Bearish side, if BTC closes below 5k this will invalidate upside scenario.
BITSTAMP:BTCUSDLong
by PolarHusk
4
BTC/USD TA Update (bulls getting ready? 6k target?)BTC/USD BTC manages to break the trendline resistance at the 5k and keeping the price above it for more than 12hrs now. This is a good chance for the bulls to change the shorter timeframe rally going up. This momentum will remain intact as long as the price does not break below 4.8k because if that level is gone this will give the bears a meaningful entry to short the market again. BTC bulls need to keep this action alive for the next 24-48hrs and break bullish. Target to the upside is up to 6k. 6k levels are showing itself as a strong barrier for BTC since we have been rejected there twice for the last 4-5 days of trading.
BITSTAMP:BTCUSDLong
by PolarHusk
1