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BTCUSDLONGS

possible 4th triangle? Things we have to look at (BTC)Hello everyone Another green day in cryptoworld. Today an update on BTC price-action and some things we have to look at. Let’s get straight in to this! -So first of all I would like to talk about something I came up with for the first time 2 months ago. Could this new uptrend be a beginning of a possible 4th triangle ? We see clear similarities in all the triangles that were formed in the past. A nice uptrend, followed by a huge downtrend and bottoming at +/- the same level as it started. The fact that the volatility went down in this market, made the triangles smaller. -Other great news is that finally all cryptos valuation and price-actions are not similar anymore . For exemple: if BTC went 2% up, ETH price went up with 3%, LTC with 4% and so on. If BTC went down, ETH, LTC and all the other cryptos were following. This seems now over. (let’s hope so) -The BTC-dominance is 47,2% at the moment. If you compare that just before the rally from December (55-60%) that’s relatively low. I expect from now on a higher volatility from BTC in comparison with the other coins, BTC-dominance will rise. I guess that we could possibly see 55%-60% before a rally of alt-coins can start. -Over to the ‘bad news’ if we take a look to the BTCUSDLONG chart. This chart could possibly tell us that the bulls are getting tired. Nevertheless, if you check the BTCUSDSHORT chart, we can clearly see that the bears are not enthusiastic either. This tells us that a lot of people don’t know what to do at the moment, they are ‘neutral’. Take advantage of that! Orders: -I will wait until BTC confirms its price above 8K (2days), if prices are stable, I will place an order at 8.1K., stoploss 7.7K. Now I have enough BTC, there is no hurry.
BITFINEX:BTCUSDLong
by cheynos
BTCUSD - Greedy Bulls about to meet The Matador (Bull-Fighter)Technical : I'm confident that Wave iii has just ended. Because the last wave up was an Ending Fifth Wave Diagonal which led me to believe that the wave has to be a 5th Wave. I see bearish divergence on higher timeframes. Not to mention the overhead heavy resistance leads me to believe that upside potential before a correction is very low. Whereas towards the downside we have a clear path to 7150 (if not more). Heavy support is at 6900. The ratio of Longs vs Shorts is way too high. Too many long positions were opened at the last minute. Were there no long opportunities in the last two weeks? Of course there were! Now if I were a whale would I cause a short squeeze up to kill bears? Hell No! Would I push the market down to kill those greedy bulls? Hell Yeah! "A fool and his money are quickly parted." Fundamental : From fundamental standpoint we have reason to go further up in the coming week since there's talk of Bitcoin ETF. As a lawyer, I can say with conviction that SEC will not pass Bitcoin ETFs. But nevertheless it gives rise to a long opportunity till 10th of August. If it gets approved good, we keep the long open. If it gets rejected, we find ourselves a resumption of the downtrend and new short positions. Either way as traders, we shall overcome! Godspeed _________________________________________________________________________________________________________________________ I'm not your Financial Advisor and this is not to be construed as Financial Advice but I can be your Legal Advisor if you can afford me.
BITFINEX:BTCUSDShort
by ShounakShetty
30
Prediction ETF vs NO ETF (BTC)Hello everyone We’ve got great news today, the sec has announced that they will decide about a BTC-ETF the 10th of August. Here is a short version of my view on the situation. Nothing major has happened yet since my last idea of BTC, 4 days ago. First of all a small view on current situation. Current situation: - So we’re still on in the same area between our bottom at 5.7K and our strong resistance at 6.8K. We are now at these price-levels for a month. What does this mean? o The bears are not strong enough to break down under 5.7K o The bulls are not strong enough to break through 6.8K o This could be because it’s summer-time, there are way less trades in summer-time. less volume= less volatility o This could mean that we’ve now reached our bottom. We’ve never had such a long period between a such small price-difference. The bears are almost all gone. Situation 1: yes to an ETF! - Ideal scenario, the market will wake-up again, volume will go up. We will probably break through the resistance level (6.8K) in no time (the same resistance that we are fighting with since 12July). - The only way is up, the moment we pass the 6.8K level, that’s a buy-sign for me. That means that the bulls take over and that we over won the bears who are defending this level for a month now. We enter the trade zone above 6.8K. - The next target is 10K. (very short-term) Situation 2: No ETF - Worst case scenario, will drop the price massively. I doubt that the bulls are still going to defend the levels at (5.7K-6K) if the SEC failed to launch an ETF. - The next support-line is at 5K then. (20% down fall) - Why 5K? o A lot of great investors have already announced that they will be interested in BTC if the price goes below the 5K. (new volume) o A lot of shorts will run out at 5K. Give it a like if you appreciated it comments and thoughts are always welcome My orders are my thoughts and are no financial advice!
BITFINEX:BTCUSDLong
by cheynos
8
Longs and Shorts Reveal Bitcoin's True Intentions!Back with another analysis to complement my previous BTCUSD post. Looking first at the BTCUSDLongs chart, we can see that we broke above resistance and tested for support before moving up and then back down. This move back down has shown MASSIVE bullish divergence, both on the RSI, which has formed and broken out of a falling wedge, and the MACD. The AO has also crossed one buy signal, with another coming up. On the shorts side, we can see that the chart first tested the 1D bearish OB and was rejected, fell into the 1D bullish OB and bounced, and is now sitting in no mans land. The RSI is forming another rising wedge with bearish divergence, the MACD is failing its retest of support, and the Laguerre PPO is starting to signal oversold. My guess is shorts will move up to the 1H Bearish OB before getting rejected and breaking through the 1D Bullish OB. Together these charts paint a very bullish picture for BTC. See my other idea for my analysis on BTCUSD, and remember that this is my own opinion, not trade advice, and I'm not responsible for what you do with your money.
BITFINEX:BTCUSDLONGSLong
by gtrox115
Bitcoin's diamonds (part 2) 1h and 4h chartsGood morning, traders. Remember, CME Bitcoin June Futures expire at 10 a.m. CST this morning (www.cmegroup.com), monthly close is tomorrow, and weekly close is on Sunday. So as I've mentioned in the live stream, any potential reversal that may occur could happen at any time today through Sunday. This doesn't guarantee we will see a reversal, just that there are multiple important events culminating this weekend which could add to its strength if we do see it but which leave the window open for timing. We saw a strong jump in BTCUSD Shorts this morning while Longs continue to grow. This isn't an ideal situation for Shorts. Based on how quickly they jumped and where price is currently located, they are likely over-leveraged retail Shorts which means any pop up in price will liquidate them pretty quickly causing many traders who aren't liquidated to have to cover their own Shorts as a result. This doesn't mean such a thing will happen immediately, just that the risk to reward ratio is pretty poor at this point. Too much risk opening a fresh short for the reward that one may receive by being correct. Price continues to follow the April pattern at this time. As we can see, the daily candle is sitting right on the blue line. Price is currently moving within a descending wedge within a descending channel. The expectation, based on the pattern, is a breach of the wedge's resistance. There is the possibility we could see a sudden drop in price leading to capitulation and subsequent large, fast rebound before the break of the resistance comes to fruition. In that case, many traders will likely be stopped out and/or liquidated on margin due to an inability to log into the Web-based interface of their exchange during that strong price action and/or failure of the exchange to execute their take profit. RSI is nearing a breach of its own resistance, as is OBV which has bounced off support its support level that dates back to October 2017. On the shorter term charts, price may be building another diamond pattern. There is strong volume throughout price movement within the pattern, which is important. As always, I am watching for a breach of the blue lines in either direction with the resultant resistance and support lines providing likely initial targets. RSI is attempting to breach resistance on the 1h and 4h charts. Fib congruence levels (where fib levels from multiple fib pulls come congregate) are important indications of support and resistance and should be monitored as well.
BITFINEX:BTCUSD
by Chris_Inks
Bitcoin's diamonds (part 2) Daily chartGood morning, traders. Remember, CME Bitcoin June Futures expire at 10 a.m. CST this morning (www.cmegroup.com), monthly close is tomorrow, and weekly close is on Sunday. So as I've mentioned in the live stream, any potential reversal that may occur could happen at any time today through Sunday. This doesn't guarantee we will see a reversal, just that there are multiple important events culminating this weekend which could add to its strength if we do see it but which leave the window open for timing. We saw a strong jump in BTCUSD Shorts this morning while Longs continue to grow. This isn't an ideal situation for Shorts. Based on how quickly they jumped and where price is currently located, they are likely over-leveraged retail Shorts which means any pop up in price will liquidate them pretty quickly causing many traders who aren't liquidated to have to cover their own Shorts as a result. This doesn't mean such a thing will happen immediately, just that the risk to reward ratio is pretty poor at this point. Too much risk opening a fresh short for the reward that one may receive by being correct. Price continues to follow the April pattern at this time. As we can see, the daily candle is sitting right on the blue line. Price is currently moving within a descending wedge within a descending channel. The expectation, based on the pattern, is a breach of the wedge's resistance. There is the possibility we could see a sudden drop in price leading to capitulation and subsequent large, fast rebound before the break of the resistance comes to fruition. In that case, many traders will likely be stopped out and/or liquidated on margin due to an inability to log into the Web-based interface of their exchange during that strong price action and/or failure of the exchange to execute their take profit. RSI is nearing a breach of its own resistance, as is OBV which has bounced off support its support level that dates back to October 2017. On the shorter term charts, price may be building another diamond pattern. There is strong volume throughout price movement within the pattern, which is important. As always, I am watching for a breach of the blue lines in either direction with the resultant resistance and support lines providing likely initial targets. RSI is attempting to breach resistance on the 1h and 4h charts. Fib congruence levels (where fib levels from multiple fib pulls come congregate) are important indications of support and resistance and should be monitored as well.
BITFINEX:BTCUSD
by Chris_Inks
2
BTC LONGS VS SHORTS- Playing heavily in favor for the bullsTiny update. Currently expecting a medium pullback on the BTCUSDLONGS as they are very very overbought, but under a very steep angle.(Positive-bullish effect on the price) When it comes to the BTCUSDSHORTS ,it's quite the opposite. The 4hr chart is very oversold, and a pull up anytime soon could happen. What can be seen as the biggest outtake from this analysis by far, is the failed cup and handle formation, which by itself it's one of the most bullish formation, and a failed cup and handle is quite a bearish sign. Anyways, comment your thoughts or if you have anything to add folks, since this is quite a short update, cheers! -Happy trading- . . . . Disclaimer: //This is not a buy or sell signal, you decide what to do with your own money!//
BITFINEX:BTCUSDLONGSLong
by step_ahead_ofthemarket
Detailed BTC+LONGS T.A!Indicators screaming for shorting CryptosWell, after couple of busy weeks, I'm happy that I'm back! Seems as if seasonality is kicking in, and my previous bearish btc prediction may kick in even earlier than what I initially anticipated (in autumn, not the summer, but here we go!). Both of the charts are in great detail, so there isn't much to say. It's a very basic yet effective approach (do not like over complicating). I'm also trying to avoid being repetitive and I've seen similar analysis from quite a large number of people, but there's always something to be added. And so, the bearish triangle has been quite obviously observed, but what next? -Few areas where bitcoin can seek support, bear in mind(not pun intended) it's always hard to guess the bottom, and so: 1. Around 4800-4500, 1.27 ret support line. This can be a good area to bounce back from however, I think that bitcoin could definitely go even lower. 2. +/- 3000. Psychological support, and plenty of analyst are calling it as the possible bottom in case BTC breaks bellow 6000. 3. 2460-2600 1.62 ret support line. I would say that this should, and most likely will be the end support, since BTC on it's way up was supposed to at least get as close as possible to 12000/12300, but that didn't happen(only 11780), and such a pattern shift could push btc from 3000, to the above mentioned bottom. For the analysis of the BTCUSDLONGS , RSI downtrend could be noticed, as well as a possible breaking of the current uptrend in number of contracts, which could lead to bitcoin being sold-off bellow 6000. Having a continuous uptrend in longs is the key for an uptrend in value for any type of asset, and when people/institutions start selling-off their long positions, bear market is on the horizon. Side note: Bullish scenario(Green arrows), very very low probability, noted on both charts. Breaking of the downward triangle trend line, could be a buy signal, but until then, I'll most likely avoid entering the market. P.S. At 6000 a very very large volume, could signal a great bull trap(yet again low probability). Disclaimer: //This is not a buy or a sell signal, you decide what to do with your own money!//
Long
by step_ahead_ofthemarket
Finding the bottom and BTClongs:shortsThis elliot wave seems quite in play. I didn’t spot it but have taken the chance to showcase some great signal being confirmed on each wave. My wave 5 pans out different to who mapped this before me (sorry I can’t remember you, and I think he got it from someone else too lol). I’ve kept was 5 stunted because it is face planting into two support lines and has probably begun the accumulation phase: the ABC correction will be lost between the price moving between the two supports. If June 6th is indeed a significant date these support lines hold more value. The elliot wave plays nicely into the support line and plays nicely into April’s accumulation, which if we follow the fractal we should expect to see over the week. Though it is Monday tomorrow. If the daily closes on monday without much change I’ll be almost confident a week of shorting won’t be ahead of us. Though I want you to take a look at the chart below. This is what gives me confidence that our first major support will be strengthened here with a triple bottom. vvvv Short and long positions plummeted on April 12. Many of those longs had take profit close positions otherwise we wouldn’t have seen such a drop in the longs as well. Afterwards, longs stayed steady as the remaining positions closed better profits while the price climbed. Naturally we’d see longs increase during a bull run. Everyone that had shorted got liquidated. The whales here were the exchanges, just ask who profited the most off this? Not George Soros, as some believe because of his public statement the week prior, and people simply closing their shorts would not concatenate such an automation of bought orders. I bring this up because the natural cycle of 2018 seems to bring us to a crawling bottom again, as price is expected to complete this cycle and make another 1 month run. This chart shows us the stark difference behind the scenes this week and in april. Both Longs and Shorts have been steady for a while; neither seems to be over stretched. Volume is low, but slowly increasing (might be too early to call that). There’s a lot of uncertainty in the market right now (unlike April) - even if price moved suddenly in one direction there’ll be less impulsive followers to overextend that direction. Looking on a larger time scale we also see 2018 is nearing the end of a large wedge, driving volatility down. It is important to understand the volatility is reducing like volume, but it is reducing more. It is not due to as much a lack of interest in BTC as some might think, but more because of the squeezing of the wedge. The truth is, we are at a time where people can’t predict the next move with certainty. This creates a lot of impulsive analysis on Trading View. I might just be looking at the calm before the storm, but I think BTC holders who have faith in decentralised currency or just don’t want to see their investment opportunity go down the drain don’t need to worry right now. Looking at the charts, not much is happening. I personally would like to see the price continue sideways or make a 500 point drop down, that way there’ll be more signs telling me what will happen next. A spike up 500 will be a bull trap.
BITFINEX:BTCUSD
by MilkBread
BTCUSD :: Bull's Failed Longs Killing BTCBitcoin margin traders have been the primary cause of volatility, it would seem. What I see here is that for the most part, bears have much less impact on the market than the bulls (I would have thought the reverse!). True, a big bear paw helped knock BTC off the high horse, but the next day bulls started a path of self-destruction. This battle played out for a bit, with the bears seeming more strategic and the late coming bulls having major FOMO. The early bulls falsely inflated the CCI which was easy to do the day after all those shorts opened. The price continued to go downward as people took their profits before they weren't profits anymore and this caused a lot of bull nuts to be squeezed. Everyone decided to give it another shot and, you can see that as L&S activity stabilizes the market tries to return to normality...which has been a down trend but it's trying to normalize the 6-11K range. The long bulls finally gave up in the last week of march, falsely *deflating* the market as they had done previously. At this point every has had their ass torn from both directions and I'm lmfao at how all these smart people out smart themselves. I, having no financial eduction or even skills or responsibility, have also had my ass handed to me so .. This pot is also black. Everyone had a good LOOONG as week to analyze the crap out of every micro & macro pattern possible and a lot that aren't. As mentioned, the bears seemed more strategic and you can see that a large number of shorts were opened at the PERFECT time.. when the 100 MA is crossing the 200 .. AND the market is hitting nearly 200 on the CCI. The rest of the week was mostly Joe Blow grabbing big handful of FOMO. He's the one who is going to cry elephant tears. :( We're at a crazy pinnacle of resistances from literally every direction and that hammer is super crazy ready to pounce on a market full of bulls who have run out of steam driving their precious lambo straight into the ground. Ironic eh?
KRAKEN:BTCUSD
by lazytrade
17