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BTC - Likely a bearish reversalBTS likes diamond patterns . While this is a pretty rare pattern, in the case of BTC we see them quite often. Another diamond has been painted on a daily chart which promising a reversal. That fact, that this pattern appeared at the resistance line that has been drawn during multiple months, gives even more weight to this signal. In the long run, BTC is still bullish , but we must pass through this pullback first. The first point where BTC may find support is daily EMA 200 that currently near 8050 . If for any reason that support will be broken, I expect the price to try the bottom of the symmetrical triangle on weekly that I posted earlier, so we may see it around 5700 in case of an extremely sharp decline (which is unlikely but possible), or 6200-6500 if the downtrend will be more gradual. Trade wisely and good luck! P.S.: Please, take this adequately. There are always ups and downs, no stock/crypto goes only up or only down. I'm not a perma-bull/bear and you shouldn't be either. If you are holder, take this as an opportunity to grab more at the discount. If you are a short-term trader, don't fall in love with any assets, it doesn't work this way. Best of luck to everyone, and stay safe!
COINBASE:BTCUSDShort
by LanaFL
1
BTC - YOU MUST BE A COMPLETE NOOB TO BE A BEAR AT THIS CONDITIONFor any professional trader, it will take 5 seconds to figure out what is going on looking at the BTCUSD chart right now: 1) We have a huge symmetrical triangle at weakly chart 2) The price just touched the bottom of the triangle which goes along weakly EMA 200 and the next target in mid 11 000 3) The RSI in low 30's third time in the entire crypto history 4) We have 2 weakly inside bars one by one at the major support level 5) The price is deeply below "W" VWAP as it always happens before the bounce from the bottom. 6) The stock market in the deep %$##%, so crypto is the only way to make money for the majority of the traders, and they won't miss this opportunity. Do not try to try to convince bears that they are wrong. We will need them later on when they'll jump on the train during the bull run. I hope you are fully loaded. Now, sit back and enjoy.
COINBASE:BTCUSDLong
by LanaFL
27
BTC - ADDITION TO THE PREVIOUS CALL: BULLISH ASCENDING TRIANGLEWe are ~10% up since my previous call , and since so far the pattern works as expected, I want to zoom in from weakly chart to daily, to provide a more detailed view on how it goes. As I said, it doesn't take long for every serious and experienced trader to spot all bullish signs that are on the table right now. These patterns/signs are so big, that it is impossible to miss it because this is a third time in history when crypto has such conditions, and each time it was followed by a massive bull run. Now, moving to the daily chart, BTC bounced from weekly EMA200 and the bottom of the triangle and continue to form an ascending triangle which is bullish during the uptrend . Currently, the price moves toward 7000 (top of the small triangle on daily) and after that may retest low 6k to finish the pattern. After that, we should expect a breakout from 7000 and nearly straight move up to test the latest resistance at 9000-9100. At that point, this particular call will be closed, and you can move back to the LARGER TIMEFRAME where we should wait to test 11000-11300. If you listened to my previous call and loaded up at $5800, then when the price will hit that 11300, your position will be nearly doubled. Stay tuned, and don't listen to whining bears. As louder they cry, as more convenient, you should be - they cry just because they realizing that they missed the train.
COINBASE:BTCUSDLong
by LanaFL
1
BTC UPDATE! (9/28/2018, BTC = 6680)BTC had a little relief rally and currently preparing to test the bottom of the falling wedge . The support and resistance lines that you see on the chart are rock solid and not just showing the pivot levels, but also correspond with Fib levels. The lower targets are: 1) 5850 which has been tested 4 times and held, which is very uncommon. Usually, after 3 bounces, if support being tested again - it's failing . I truly believe that if tested again, 5850 level going to fail. 2) If 5850 will fail, next level which is the most important is between 4950 and 5150 . At this level is wise to scaling buy strategy within the green area that you can see right under the wadge. We may see a false downward breakout, so setting the limit buys in that area is wise. 3) The lowest level is 3050 which exist, but unlikely will be seen . Lowest level I can imagine is 3650 which will be the biggest bargain of the century . The most important resistances that BTC will need to break are: 1) 5850 will be the first obstacle on the way up. It was a key support level for almost year, and when it will turn into resistance, it wouldn't be easy to break. 2) 6850 is a key level as well that will resist less, but bulls will need to put the effort to break it. 3) Next crucial level is 8500 . It might be a top of the move , at least looking at the target of the current pattern. This is also a Fib level , so you should look very closely at the behavior of the price at this level because it will determine the future of BTC and crypto in general for the next several months or even years. 4) The highest point, which also a Fib level is 9950 . This is an absolute top that can be seen ATM. This is a level of the previous top, this is a Fib, this is also a previous uptrend line that failed and became a resistance . Trade wisely and avoid FOMO at all cost. Very turbulent time is coming, so don't panic , use Stop-Loss and stay sober and unbiased Good luck! //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDShort
by LanaFL
4
BTC QUICK UPDATE! RISING FLAGHi, folks! I didn't post anything for a while, because previous targets remain intact and there is not to much I can add. However, some traders got tired from the downtrend, that's why they forcing the trades trying to call this a bottom. As you can see, RSI currently ~50 remaining neutral for move in both ways, but BTC painted a big bearish flag which means that discounts are coming soon . Up to how far it will go, we can break the neckline oh the H&S that I discussed previously, and it may lead to not just discounts, but the real Black Friday ( The target of inverse this H&S is 3700 ) The area between 6050 and 7150 is a real no-trade zone(NO-NO!) You probably saw what happened yesterday with those who went long on pure FOMO disregarding TA. They got rekt and already under the water. Patience will be rewarded. Chears! //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSDShort
by LanaFL
7
BTC UPDATE! POSSIBLE REVERSAL. THE DIAMOND AGAIN ON 1HHi, everyone! BTC is in the bearish channel for 14 days and we didn't have any significant bounces that often can be found during selloffs like this. This is understandable because the selling pressure is ridiculously high . During the last 24 hours price formed a Diamond pattern that we talk about and traded previously. Diamond is the reversal pattern and it might mean that this is a bottom of the right shoulder of so anticipated Inverse H&S . The Diamond pattern must be traded ONLY upon breakout , but again, we are in the downtrend channel, so, the breakout from the diamond can't be taken as a good confirmation. Confirmation for me, if after an upward breakout from the diamond we will break 6550 and escape from the channel. If so, 7500 and 7900 are expected to be tested. HOWEVER! Keep in mind that we failed to get out from the longtime downtrend and came back under resistance. This means, that you have to cut your appetite and don't expect anything higher than 7900 at least for now. //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSD
by LanaFL
1
BTC UPDATE! H&S, 3700 ON THE TABLE. LET'S GO RIGHT SHOULDER? Hi, guys! BTC has literally 10 red days in a row, and there was no support on the way down that would make it bounce. Now, we approached the main support line that has been tested three times this year, and as we know, if support was tested 3 times, on forth it fails almost guaranteed. We all were waiting for Inverse H&S, but it doesn't look legit anymore, however, it still not canceled while we over 6k. Instead, we have left and right shoulder of H&S, and seems like we will drow the right one eventually. From one side, this is a scalping opportunity, but from another, it's can turn into DOOM for holders of BTC and Alts. We are about to have some breather, which will likely turn into the right shoulder. Watch for the volume confirmation. Measured target of this H&S is ~3750 which not just a legit target, but also, perfectly corresponding with a mean line: s22.postimg.cc Yes, 3700. There will be several spots that worth a try, as a green triangle that you can see at 5700, but this is the last that I personally going to try before mid 4k. I called 3500 a long ago, but this is the first time when it's real target as never before. Etherum has a target at 125, LTC at 48 even without H&S. Not many alt's will survive, so you have to make a design while BTC is over 5700. Be careful, and trade smart! //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSD
by LanaFL
7
BTC UPDATE! Hi, everyone! BTC has 7 red days in a row, and after one day of consolidation have a two red dailys again. STOCH RSI oversold and trying to engulf, RSI not oversold yet, but very close. I expect some sideways between the downtrend line(connecting all last tops) and a new support line (green, connects A-C-E). Watch the price action after E, it will determine the direction for the next several weeks. //This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
COINBASE:BTCUSD
by LanaFL