BTC/USD TA Update (Break Current Support?)BTC/USD
Bitcoin failed the bull break at 9600 without follow-through and the price slowly grinding to the 9200s.
50MA is currently acting as dynamic resistance keeping the price below it will increase the probabilities that the support is likely going to fail in the next 24 - 48 hours.
As we all know, the more times the support is tested at 9200 areas, it is likely to fail the next attempt.
Target to the downside is between 0.382-0.5 Fib levels. Bullish side, Bitcoin has to get above 9400s to signal another potential upside scenario.
Btcfutures
BTC/USD TA Update (Monthly Higher Low Is Set)BTC/USD
The monthly candle closed bullish and a pullback from 14k High is now over as the Bitcoin manages to hold EMAs on the monthly time-frame.
Bitcoin is likely to play an equilibrium in the longer period and currently has the chance to retest the previous swing High at 14k.
If you are a longer-term trader/investor, stop loss should be placed under 6k or previous swing Low because if BTC breaks this level.
We could expect the price to come down to 4k - 3k again in the future.
But as long as BTC holds these EMAs on the monthly chances we are on already bull run.
BTC/USD TA Update (Bearish Pattern?)BTC/USD
Bitcoin is looking bearish after failing to break above 9400s, it also failed to hold previous Higher Low at 9280s and has now retested the same support at the 9220s.
This key support area is likely to fail as the EMAs and 50MA on 1hr time-frame is acting as bearish momentum pointing to the downside.
We will be looking at 9000s next key support area if this bearish descending triangle plays out.
BTC/USD TA Update (Retest Swing High?)BTC/USD
Bitcoin found support again for the 3rd time at 9200s area, BTC started turning to the upside and has the potential to retest the swing top at 9600.
If BTC can't break the swing High, there is likely a pullback at immediate support areas to push another wave up. Bearish side,
BTC will come down and retest flat support area for the 4th time which will add a more bearish factor that this line of defense against the bears will fail the next try.
BTC/USD TA Update (1 More Leg Up?)BTC/USD
Bitcoin is still respecting this upward trend-line of support and immediate EMAs on a 1-hr time-frame period.
As long as BTC follows this key support line, I can see another leg up but keep in mind the RSI is painting a warning signal.
Please keep stop-loss in place in case of major dump happens.
Bitcoin CME Futures TA Udpate (Ready For Pullback?)Bitcoin CME Futures
Bitcoin has formed a price gap between 9255-9125 areas and the RSI entered the overbought conditions levels.
This uptrend would be much healthier if it will pull back at key support area and to fill up the gap to continue its growth.
Bitcoin Cheat Sheet 2020!!First off, give this a like/follow - let's get this information out to as many people as possible! We can see the 2019's cheat sheets were very critical for the market.
2019 Cheat Sheet 1 - (3 Month Contracts) -
2019 Cheat Sheet 2 - (6 Month Contracts) -
Now, 2020's cheat sheet, explained.
Index for 2020's Cheat Sheet:
First Purple line is CME futures launch date. 18th Dec 2017. From then on, the purple lines in December are the anniversary of it. Clearly it's created a top, and our bottom's so far.
First Red line is NYE. From then on, each Red line in Dec/Jan cross over is a new year.
Dark Green to Dark Green is Jan 2020 CME contracts duration found on ticker: BTCF20 (First Trade 28th Oct 2019 - Last trade 31st Jan 2020) Settlement date 03 February 2020.
Yellow to Yellow is Feb 2020 CME contracts duration found on ticker: BTCG20 (First Trade 2nd Dec 2019 - Last trade 28th Feb 2020) Settlement date 02 March 2020.
Orange to Orange is Mar 2020 CME contracts duration found on ticker: BTCH20 (First Trade 30th Sep 2019 - Last trade 27th Mar 2020) Settlement date 30 March 2020.
Dark Blue to Dark Blue is Apr 2020 CME contracts duration found on ticker: BTCJ20 (First Trade 16th Dec 2019 - Last trade 24th Apr 2020) Settlement date 27th April 2020.
Teal to Teal is May 2020 CME contracts duration found on ticker: BTCK20 (First Trade 16th Dec 2019 - Last trade 29th May 2020) Settlement date 01 June 2020.
Green to Green is June 2020 CME contracts duration found on ticker: BTCM20 (First Trade 30th Dec 2019 - Last trade 26th Jun 2020) Settlement date 29th June 2020.
Black to Black is July 2020 CME contracts duration found on ticker: BTCN20 (First Trade 3rd Feb 2019 - Last trade 31st Jul 2020) Settlement date 3rd August 2020.
Pink to Pink is Dec 2020 CME contracts duration found on ticker: BTCZ20 (First Trade 16th Dec 2019 - Last trade 24th Dec 2020) Settlement date 3rd Jan 2022.
Dark Grey shaded area in May is the Bitcoin estimated halving date range.
Horizontal Lines are Major Fib's.
Gold lines = Golden Ratio (38.2% or 61.8%).
Black lines = Fib levels (0.0%, 0.225%, 0.5%, 0.775% and 1.0%).
Purple lines = Custom Fib (0.1112% and 0.888%).
Trend lines are from major levels of support/resistance from highs and lows of $BTC on $XBT's chart.
The point of this chart is to map the effectiveness of these dates. History shows volatility dries up as we get close to them, and gets very volatile shortly after them.
I hope this helps you make, or save a few dollars this year!
Bitcoin CME Futures TA Update (Early Sign of Bull Run?)Bitcoin CME Futures
Bitcoin finally broke this bullish descending channel to the upside and manages to get above the 200D MA and holding it as support for 4 days already.
Bitcoin is quite looking bullish during its breakout, we can see an increase in volume and the RSI still has room to enter the overbought conditions
if BTC can make its rally to the mid 9000s levels. Technically, when a coin gets above the 200D MA, momentum is quickly shifting to the bull's side
but it still too early for Bitcoin to say that we must still be cautious that this uptrend is not a false breakout.
Always keep your stop-loss in place whenever entering a trade.
PREDICTION: Bear Trend for Next Two Years; NATH not till 2025I wanted to share an interesting scenario for BTC.
If we look at the periods of "retracements" along Bitcoin's parabolic rises, we can see some definite trends emerging. For example, it appears The previous two Bear periods lasted twice as long as the previous, and tended to range within a difference of 4 to 5 times it's opening and close. Price also tends to slowly decline throughout the block, coming to a bottom and then returning to the upside in a kind of bowl-like pattern.
Therefore, it is quite reasonable to assume, if this trend continues, that we are now smack dab in the first quarter or so of this Third retracement period. As unpleasant (or boring) as that might be to consider, it's also worse to put the blinders over one's eyes, in my opinion. So if this chart proves true, we may very well continue down toward 3K over the next year and a half; before climbing back up, surpassing old ATHs by about Summer of 2025. And as we see, each "bullrun" is also less "parabolic" than its predecessor; therefore, this third runup would likely only see BTC multiply to arround 50K USD by that following Summer, 2026.
Of course this is just fun and speculation so use discretion, but, it's an interesting scenario (and quite plausible, imo) if you ask me!
In the overall scheme of things, this is still a great buying/ accumulating opportunity around the 7K level, where we are today.
tl;dr - PREDICTIONS: Bear market for next two years, crawling down to 3K -- Next Major Bullrun not until Summer 2025, which will take us to 50K within a year.
Happy Trading!
BTC Futures - Happy New Year 2020 BullsI'm using 3 days as it has a more clear view than 1D (noisy) or 1W (too compressed).
So, let's break it down with almost naked chart and price action...
1) Huge bull flag / potential falling wedge (fucking same!)
2) ABCDE completed (Not sure applies, but been working very good for me!)
**Also D was a great fake out, typical!
3) ABCDE completed with double bottom (typical from falling wedges before break up!)
*Interesting info: Falling wedges normally yield between 30% to 70% profit.
4) Low to high fibo, retrace to 61.8% fibo (BTC normal behavior and healthy / bullish retrace!
5) Retrace to test 100 MA on 3D (must, and done!)
6) Bounced from POC - Point of Control from Volume profile (support / resistance line, very magnetic).
7) RSI is kind of neutral inclining bullish due to mild divergence.
8) We poked higher OB, then lower OB, now ready to go above higher OB? (boxes)
Simple as that...
Once we get above 50% fibo, then we will be very bullish!
PS: As a heads up, this is a pattern, and patterns play out 70% of the time, statistics... So, I'm not saying we will, I'm simply analyzing without any bull or bear bias (pattern itself is bullish ofc)!!!
Happy Trading 2020!
Key Juncture for BTCI am of the opinion we are at a crucial moment in the future for Bitcoin's price.
If we look at the price chart, in conjunction with the Relative Strength Indicator (RSI), we can see that the former is forming a down slope, while the latter is sloping up . This combination: Lower Highs in Price, followed by HIGHER Lows on the indicator, forms what is called a "Hidden Bearish Divergence."
Hidden Divergences are different from Standard Divergences in that Hidden divergences denote a trend continuation , while a "standard" divergence implies, well, as the name says: a divergence or trend reversal .
So on our larger time frames (I think I have the DAILY above), although price might be behaving contrary recently, we are still in an overall a bearish trend. Therefore, this hidden divergence is Valid. Therefore, as said in my previous post - I did forsee a rise playing out what I said would be a Head and SHoulders pattern, carrying the price up toward ~$7850, but if it doesn't break past it, we're going down. And even if we do break it we're going down eventually - just a metter of when ...
If BTC can rally, and it must happen soon, like today, past that $7900 USD range - especially with volume - that would invalidate the RSI and therefore the Hidden Bearish Divergence. Then Bitcoin would likely continue upwards of the 8800 USD range before coming back down. All the better for the BEars. But if it can't break 7900, the we're definitely coming back down HARD and fast.
The next 24'll tell the tale...
Bitcoin CME Futures TA Update (Gap to be filled?)Bitcoin CME Futures
Bitcoin finally changed the 4hr trend after breaking the previous High at 7439 but we can't stay overconfident right now.
CME Futures has opened a gap in price between 7414 - 7243, we know Bitcoin loves to fill any gap as soon as possible.
Taking a look at the RSI level is already on overbought condition this might add pressure to slow the price going up or temporary cool-down for a bit.
Bitcoin CME Futures (Price Filled the Gap)Bitcoin CME Futures
Bitcoin finally filled the gap between 7141 - 7236 and may have temporarily top-out. If BTC can hold the level between 0.382 - 0.5 Fib and bounce from there.
That will signal a potential 4hr trend change. For now, we will have to wait for how BTC will react to this important support area in the next 24 - 48 hours.
BTC CME Futures Gap | Lower Levels First ?Hello Traders,
Today’s update will be on BTC CME Futures chart, Bitcoin broke out of its rising wedge over the weekend creating a gap. Gaps tend to get filled sooner than later, but will BTC hit lower levels first?
Points to consider,
- Trend testing major support
- Resistance at .786 Fibonacci
- Stochastics in lower regions
- RSI approaching support
- EMA’s crossed bearish
- Volume below average
Bitcoin is sitting on a key support which has multiple technical confluences, the .786 Fibonacci level and the inverse head and shoulders neckline. This level needs to hold as it is the last hope for the overall bullish bias. Strong resistance is found at the .786 Fibonacci level that was not broken. This resistance is just above the futures gap that will get filled at some point, leading to a possible retest of the staunched resistance.
The stochastics is in lower regions at current given time, lots of stored momentum to the upside but can stay in lower regions for an extended period of time. RSI is approaching its support which must hold, a break will confirm BTC testing lower levels of support.
The EMA’s have crossed bearish but is yet to meet price, this will pose resistance to Bitcoin if it fails to hold support. Volume is well below average, very dry, which needs to pick up. An influx of volume will determine the direction of Bitcoins next move.
Overall, in my opinion, Bulls are looking weak here as price comes to test key support. Volume has been low ever since, the buy pressure is just not there. BTC CME is more probable to test lower levels of support before filling the open gap.
What are your thoughts?
Please leave a like and comment,
And remember
“If you can’t take a small loss, sooner or later you will take the mother of all losses.” – Ed Seykota
Summer Bull Over?The more Bitcoin plays out, it seems like the bull run that people are waiting for has already happened. Following the blue trend line, it seems like Bitcoin could be heading into another bear market which will see Bitcoin sell off to $5,000 area. Its a higher low than last time.
Reality is, greed comes plays a part in this as well when in reality the bull may have passed. It was still a very significant bullrun in a short time frame. If you loo, the MACD and RSI are still bearish. There is plenty of room coming down. The thing is, alt-coins were supposed to break out these last could of days, but it seems it was short lived. We could be heading in for a long bear market.
$3,000 to $13,900 is a 360% increase. Thoughts?
the pink line is what you need to be watchingkeep an eye on price if it rebounds off the pink line and through the wedge upwards if we do then 11500 could happen
BUT
if it breaks down through the pink line to the bottom of the wedge at 9500k
if we keep going down through the bottom of the wedge then we could see sub 9k
4hr RSI and STOC at well above over bought-
This wedge triangle could show how the rest of the year plays out
BTC Thoughts Thru September (Novice Analysis)Potential Bull Flag waiting to play out on the BTC
CME Futures
Expecting overall decline in volume to continue
until bottom of flag is tapped again and the
CME Gap (green circle) is filled
1M candle printing out an attractive inverted
hammer for August to add conviction to my
bullish bias
This implies we continue upward
after filling the gap and buyers overtake sellers
in this last beauteous opportunity to buy BTC
under $10k before attacking ATH