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It is time... XBT/USD BUY @ 6875$ 5min Candel has confirmed Hard to tell with this chart, & I cant share with you guys the 5min chart that Im looking at...... BUT XBT/USD is STRONGBUY @ 6875$ 5min Candel has confirmed + Other indicators. Im LONG at $6865 region... take profits 50% approx $7000- $7,80 etc. Apr 6 I've recently been testing the B.B. Reversal strategy. On XBTUSD 0.45% using the 5min. candles & So far has proven to be quite profitable...(I just started testing earlier today. Sooooo) Anyways The Rules are simple, Stick to the Rules, Always wait for confirmation candle and MOST Important IS To TAKE PROFITS early. I found it to be a far better strategy IF I have a predetermined 'take profit' set. using this method it around the $200 mark, but everything is situational of coarse, but with practice you'll know when the time is right. Just DO Not Get Greedy. I've found out the Hard Way. That bitcoin 0.56% is a sloth, except for when the market actually moves, and I've watched too many $200+ profits get erased in a moments notice w/o warning NEVER to return... Here are the Rules I employ: * subject to change w/o prior notice... lol 1.- Only employ this strategy using either the 5min & OR the 1 hour candles Plz 0.00% 2.- Once candle breaks through the B.B. but then closes back inside the B.B. (I've highlighted examples in chart) Once the follow candle which starts inside B.B. then usually the candle willl 1st venture back outside the B.B. almost matching previous wick... Once that candle closes back inside B.B. then its confirmed to follow trend 3. take profits at Mid way of B.B. unless candles break through Half line w/ no problem, should result in complete crossing of B.B. ( from top - botttomo vice versa) a Gud example is IF the trending candle closes prior to crossing midway point then TAKE PROFITS Bcuz possible reversal. IF trending candle closes after crossign midway, Hell I still take my profits.... then wait to jusge market at that time, If able to jump back in do so IF not NEVER chase trends. There will Always be another opportunity. Some say count your blessing. I prefer to count my profits, but thats just Me... Too each is Own...
BITFINEX:BTCUSDLong
by bitcoinatx
While We wait on the 1 hour candles... Lets view w/ 5min I've recently been testing the B.B. Reversal strategy. On XBTUSD using the 5min. candles & So far has proven to be quite profitable...(I just started testing earlier today. Sooooo) Anyways The Rules are simple, Stick to the Rules, Always wait for confirmation candle and MOST Important IS To TAKE PROFITS early. I found it to be a far better strategy IF I have a predetermined 'take profit' set. using this method it around the $200 mark, but everything is situational of coarse, but with practice you'll know when the time is right. Just DO Not Get Greedy. I've found out the Hard Way. That bitcoin is a sloth, except for when the market actually moves, and I've watched too many $200+ profits get erased in a moments notice w/o warning NEVER to return... Here are the Rules I employ: * subject to change w/o prior notice... lol 1.- Only employ this strategy using either the 5min & OR the 1 hour candles Plz 2.- Once candle breaks through the B.B. but then closes back inside the B.B. (I've highlighted examples in chart) Once the follow candle which starts inside B.B. then usually the candle willl 1st venture back outside the B.B. almost matching previous wick... Once that candle closes back inside B.B. then its confirmed to follow trend 3. take profits at Mid way of B.B. unless candles break through Half line w/ no problem, should result in complete crossing of B.B. ( from top - botttomo vice versa) a Gud example is IF the trending candle closes prior to crossing midway point then TAKE PROFITS Bcuz possible reversal. IF trending candle closes after crossign midway, Hell I still take my profits.... then wait to jusge market at that time, If able to jump back in do so IF not NEVER chase trends. There will Always be another opportunity. Some say count your blessing. I prefer to count my profits, but thats just Me... Too each is Own...
BITFINEX:BTCUSD
by bitcoinatx
3
pivotal moment on the 1 hour chartthe current 1 hr bull flag has been consolidating forming an equilateral pennant with its wicks....this next 1hr candle should be the deciding candle for it but even though bull flags usually break upward this one seems to be threatening a down break....if it breaks upward I switch to long...if it breaks downward it can get enough momentum to drop back down through the bearpennant triangle and breakdown bearishly out of it...so a very important candle indeed....the one hour chart is not typically one I share in my ideas but I thought this specific 1 hr candle has so much riding on it that it was worth talking about. if it breaks down we will see bears take over if up then the bottom might already be in.
BITFINEX:BTCUSDShort
by DrDovetail
BTC:USD 1 hour chart DAILY UPDATE (day 29)This is not a recommendation to buy or sell. This is for entertainment purposes only Yesterday I expected us to break up $9,200 resistance. I drew an arrow up to $9,481 after seeing support hold at $8,800 and a bounce from the 50 day SMA. The daily chart had a reversal doji combined with resistance from the 200 day SMA. If I paid more attention to that then I would have been more cautious with my bullish predictions. We are currently testing support at $8,500. We should bounce from here up to $8,800 where horizontal resistance will be combined with the 50 day SMA. I am still waiting on the sidelines for further confirmation. Following is free!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 28)Yesterday I mentioned $9,200 as an important area of resistance due to the 0.236 FIB retracement. The bulls made a strong push with market buys but were unable to break through that level. Now we have a shooting star that should cause us to turn back and retest $8,800. If that holds then I would be optimistic about breaking through $9,200 on the next rally. If that doesn’t hold then I will be looking out below. I am still staying away and recommend others do as well. I will be closely watching the areas below for further confirmation before re entering. (1) 0.236 Fib resistance at $9,200. (2) Linear bear trend anywhere from $9,500 - $10,000 (3) Death cross on 50/200 day SMA (1 day chart) - Expect this to be approaching in the next 2-3 days. Happy trading and like/comment/follow!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 27)Yesterday I expected a small pullback to $8,400 and then had no idea what to think from there. Today I am impressed with the continued rally and I like what I see out of the volume. There is also a potential golden cross fast approaching on the 50/200 day SMA’s. However i would be very careful going long in this area. I expect there to be a lot of resistance waiting from $9,000 - $9,200. $9,000 and $9,100 are established resistance and $9,200 will see resistance from the 0.236 FIB retracement. Then there will be even more bears waiting in the vicinity of $9,500 - $10,000. If we can make it through all of that then I will be comfortable turning bullish and saying the bottom is in. Happy trading and smash that follow!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 26)Yesterday I was expecting Bitcoin to breakdown to $6,725 and was caught completely off guard when it pumped. I viewed $7,550 as the crucial area of support and once that broke I fully expected it to turn into resistance. I was waiting to short it and we all know how that turned out. I will be staying on the sidelines until I can figure out what in the hell is going on, right now I have very little idea. What I am going to be watching for in the days to come: (1) Established resistance at $9,100. If that breaks up it would be a very good sign for the bulls. (2) 0.236 Fib resistance at $9,300. (3) Linear bear trend anywhere from $9,500 - $10,000 (4) Death cross on 50/200 day SMA (1 day chart) In order for me to take on a bullish position I need to see 1-3 get broken with conviction. If the price continues to pull up and into the moving averages then I will be ready to short a death cross. For today it looks like resistance at $8,800 and the shooting star will push us back to $8,400 and from there it is anyone’s guess. Happy trading and follow for daily price updates!
BITSTAMP:BTCUSD
by Sawcruhteez
2
BTC:USD 1 hour chart DAILY UPDATE (day 25)On 3-15 I drew an arrow from $8,100 down to $6,725 and I expect us to hit that target in the next 1-3 days. As it turned out the price ranged from $7,700 - $8,500 for a couple days before finally breaking support. Now I am watching for $7,600 - $7,700 to turn into resistance. That would provide a favorable short sale entry with a stop loss just above $7,800. I believe $6,725 - $6,775 will be a crucial area of support. It is the longer term bull trend (green line) and it will be the fourth point of contact. Most traders will not even consider it a trend until there are three points of contact, so the fourth could provide a solid bounce.
BITSTAMP:BTCUSDShort
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 24)Yesterday I called for a drawdown to $7,750 and I did not expect many buyers to be waiting under $8,000 this time around. The next area of support that I am watching is $6,750. That would be the fourth touch on the longer term bull trend (green line). To my surprise we dipped below $8,000 and appear to be building support. The battle this weekend will be between the horizontal support (black) and shorter term trend resistance (red dotted). Currently the horizontal support appears to be winning. As the price resists the bear trend (red dotted) it continues to support above $7,750. That is causing the price to range in between $7,750 and $8,450. If it keeps moving sideways then it will smash right through the shorter term bear trend (red dotted) and likely make a move to test the longer term bear trend (solid red). Happy Trading!
BITSTAMP:BTCUSD
by Sawcruhteez
BTC:USD 1 hour chart DAILY UPDATE (day 23)Yesterday i was expecting the draw down to break through support and fall to $6,750. I entered a short and was stopped out this morning. After re evaluating the support/resistance, I really wish I would have given that trade slightly more wiggle room. We are currently testing strong resistance, which is coming from a new potential trend (red dotted line) and the established horizontal line. Coupled with the wicks on top of the previous few candles, I expect us to be heading back down soon. Since my previous short was stopped out I will be sitting on the sidelines. Happy Trading!
BITSTAMP:BTCUSDShort
by Sawcruhteez
2
BTC:USD 1 hour chart DAILY UPDATEYesterday I remained bearish, but expected a small rally to re test the 200 day SMA. We broke down well before that and the bearish momentum continues to build. The last couple candles indicate to me that we will be heading back down soon. The next area of support should be $7,735 - $7,750 which is where the profit target would be for a short position. Stop loss would be set slightly above $8,400. My stack is currently tied up in another position. Happy Trading!
BITSTAMP:BTCUSDShort
by Sawcruhteez