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Mybitcoinacademy

Bitcoin XBTUSD $7k breakout?!Bitcoin - 4hr - BitMex(XBTUSD) BTC has been creating Higher-lows and respecting the short term uptrend, since Mach 16. Resistance was found at $7k tested multiple times and was rejected until today, when price was squeezed and is starting to creep above $7k. BTC has had a 4hr close above $7k which is the first step towards a breakout to the upside. I will be looking for a long opportunity from a retest of 7k, to confirm that previous resistance is now support. (wicks to the downside - bullhammer or bullish engulfing from this level - morning star) The target I am aiming for will be just below $7,700. $7,700 is previous structure/supply and close to 61.8% Fibonacci retracement level. Stop loss placement for this trade will be clear after the retest of $7k happens. Providing the retest of $7k holds and gives some clear structure for a stop loss placement the trade could provide a 2.5:1 Risk reward ratio. If price retests $7k and it does not hold, I will not be entering this trade. ------------------------------------------------------------------------------------------------------------- Day trader, trading primarily crypto currency focusing on BitMex pairs. Want to learn to trade? Come join the best only trading community focusing on technical analysis and mindset! Send me a message on tradingview or discord (Jordan S#2373) Not signed up on BitMex? Use my link and save 10% on fees for 6 months. www.bitmex.com
BITMEX:BTCUSD.PLong
by JordanSimmons
1
ENJBTC 4H Long - SOS TA Fridays 28/03Change in market structure 61.8 fib held Waiting for a break and retest of the current 4H resistance level for long opportunities to the daily resistance I would look to take 25% of my position off at TP's 1 and 2, with the last 50% at final TP. I'd expect this move to take from 2-5 days depending on how BTC is moving, but ENJ is known to pump quite quickly sometimes so may happen quicker. Conversely, if price starts to go down, I would be looking for short opportunities once we break the 4H support level.
by Crypto_Lucas
Weekly Bitcoin UpdateIts been an interesting week in the financial sector across the globe, a lot of fear and doubt in the global economy right now with the corona virus, banks, unemployment and trade wars. A lot of people putting focus on that being the cause of some of the movements in the crypto market and although it may have a slight effect i don't see it as being the root cause, when in reality its no different the every other time bitcoin has done something similar. Anyway onto the technicals.... The main focus is on the HTF trend analysis which still has a bearish bias over all with a series of swing high failures, and lower lows pushing further into the gutter channel. The retracement from the last daily point points pits the 618 level around $7880 USD which also coincides with a major supply block between 7500 and 7900 so this is the major target Im looking at right now for the next big more. I an see a fairly easy picking EW count using trend based fibs and its pretty close to sticking to the rules right now currently on the E retracement leg looking for one last rally up to the 1.61 extension completing the 5th wave. We will be paying close attention to this point to load up on a larger short position with the intention of the current HTF trend continuing and making another Lower Low deep into the 3k barrier but the ideal point to re-asses the situation is around the $5400 mark right now. If we can hold support in this level and see bullish activity or a momentum switch on the HTF i will consider the long approach. Playing the short term long right now and looking to close as we get closer to the supply block and stagger out of the position, don't want to miss the out.
BITMEX:BTCUSD.P
by MBA_Trading_Academy
1
ARKBTC BullishLooking for entries once we break out of this resistance zone and get another touch on the trend line to confirm it is valid We have broken out of a downtrend and we are forming new market structure Broke out of descending channel and tested as support 10MA held as support and 50MA just crossed above the 200 I would be looking to take profit at the 3 marked levels. I would look to exit this early if we failed to make higher highs or broke the trendline Time: 1-3 weeks
A
by Crypto_Lucas