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Is $5k the Bitcoin bottom?Wanted to share my perspective on the recent sell-ff and areas to watch for support bounces to the downside. No one can predict exactly where Bitcoin is going to go and if you hear someone say they do run far far away. I am simply putting together potential levels based on TA other traders are going to be watching as well which can create a "self-fulfilling" prophecy. More than likely I feel Bitcoin will re-test the 6000 lows that were made in early February. Simply put Bitcoin will either put in a patented double-bottom pattern (a common scenario that happens in traditional markets) OR if the 6k lows are taking out the 5k test will find massive support. On this daily chart, the 78.6% fibonacci retracement just so happens to sit right on the 5k level which was a key resistance break/benchmark in 2017. Regardless if that ends up being the "absolute bottom" there will most likely be a nice swing trade opportunity especially if the flush out happens on high volume/velocity.
BITFINEX:BTCUSD
by mrfrush24
Looks like a tough ride ahead for BITCOIN !! Brace yourselves!!Hello fellow crypto traders!! Let me get right into it! Bitcoin prices has been dropping since it's all time high top. Coincidentally (or not), the all time high date was the day that CME futures started. From then, we have so far dropped from 20k down to 6k and bounced. But that bounce had retraced quite a bit and it seems that BTC is heading further down from here. The 50 days moving average is going to cross over the 200 days moving average in the next few days and that usually signals a bearish outlook for the medium term. CCI index also shows consistent strength in the selling and not looking to ease any soon. Then, we also have the large head and shoulders formation confirmation where BTC had pierced thru the neckline. We shall see if it can return back up above the neckline and save itself or simply resigned to it and the neckline becoming a resistance. Based on an educated guess, I and seeing BTC heading towards the $1000-$2000 levels before the bear market is concluded. This chart is only for educational purpose and all opinions are expressly my own. Good luck!
BITFINEX:BTCUSD
by ritsol
The Genies Latest BTC reviewHey So this is tough to say ladies and gentleman, But BTCUSD -7.42% to $7,500-7,800. Here's why.... So as I predicted on Sunday after my Wyckoff theory Sprung, Tested and Failed. I knew we were in for a doozie! Here is yet again Another Dead on Elliot wave and Elliot Sub wave chart. I also have a 50 day MA and a 200 Day MA. When the 50 Day crosses the 200 Day is said to be bullish , Thats what "GOLDEN CROSS" is. Very cool indicator. And can correctly predict big inflation's or deflation's that are incoming Anyway not much else to say that Is not in the video. ++++TIPS FOR TRADING LIKE THE PROS++++ -Please check out my Website!! And my Twitter!!! -they are both listed on the front page of my trading view!!
COINBASE:BTCUSD
by TheCryptoGenie