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Very Short Term Bitcoin Short, RSI Divergence into ResistanceAs Bitcoin met expected resistance around $4,100...I am entering a short term short position. Note the RSI divergence on the hourly chart, and such divergence, when it occurs at a resistance (or support the other way) carries more weight than a random one. I'm looking for bitcoin to come back at least to $3,874. But more than a short, I've sold an amount of hodl alt coins to buy back at lower price, possibly as soon as later today. Volatility is back :). If bitcoin pops through and makes a higher high for this move, use that as a stop, otherwise, I'll wait to see if stochastic can cycle back down and reevaluate. Travis JMJ - UIOGD
KRAKEN:BTCUSDShort
by Procinctu
BTCUSD BEARISH PATTERN STILL WORKINGBitcoin remains under technical selling pressure on Wednesday, with the number one cryptocurrency trading close to its 2018 trading low, at $3,196. The bearish head and shoulders pattern on the lower timeframes has yet to reach its full downside projection, close to the $2,700 level. Overall, the BTCUSD pair is likely to continue to drift lower unless buyers can perform a sustained recovery above the $3,500 level. The BTCUSD pair is strongly bearish while trading below the $3,500 level, key support is located at the $3,196 and $2,700 levels. If the BTCUSD pair moves above the $3,500 level, a correction towards the $3,700 and $4,000 levels remains possible.
BITFINEX:BTCUSD
by OctaFX_Official
XRP - SO MUCH CONFLUENCE FOR UPSIDE!Hi Traders, Hope you are all well. This is My current view of XRP/USD - I belive we have Made a clear impulse to the upside from $0.25 - $0.80 - Followed by an ABC Corrective Wave and we are ready for upside (I also follow the fundamentals and partnerships of Ripple the company and their actual product is now live XRAPID) - Also we are now on the way to complete a Shark Pattern Which is a high win rate harmonic , I don't trade harmonics but i draw their completion zones and fib levels to add extra confluence for my target taking. - The market has now printed My ideal entry which is a flag pattern which meets my requirements as a Trend Continuation Pattern which is what i use to enter the market and join the trend.
BITFINEX:XRPUSDLong
by TheWaveTrader
8
BTC – low volatility – no one is eager to sell below $6500Hi Traders! No volume on the market means boredom – at least for the time being. But there is also one good thing. This is low volatility which for traders is not good by itself but in this particular case means there are NO more people who are willing to sell BTC below $6500. We have this strong resistance since the beginning of the year ($ 5800-6500). We are also convinced we won’t go lower than $5800 which was stated in the previous analysis from October the 3rd (you will find it right down below the analysis). We added 4 EMAs to our chart. As they were far away from each other on Dec 17 and Jan 18 they are very close to each other right now. It means when they are close to each other, the price doesn’t fluctuate, doesn’t change much. If you are a day trader or at least short-term trader it doesn’t work as an advantage. But in this case, it is positive. We have no room for further declines so the only way is up from here. This makes a safe mid- and long-term trade. All we need is some positive news from the market, new investors coming (both individual & institutional). Please do be an EVANGELIST of the crypto. Of course, not all of the project will survive but 100-200 of them will make a revolution. Bitcoin will last for sure. We don’t have to worry about that. Please add your small part to make bitcoin and crypto popular. Just tell your family and friends how they can transform our economies, countries, politics, natural environment. Do it personally, on Facebook, Reddit, Twitter. So this is a bit high-flown but, when things are not going where we want them to, big picture thinking might be the solution. It will help us to maintain calm and patient. Remember BUY LOW SELL HIGH. So here are details of the technical analysis: • 4 EMAs close to each other – low volatility – no moves down expected as explained above • Strong support at $ 5800 remains unbeaten • MACD strong positive uptrend – we are about to cross the level of zero • Chaikin Money Flow indicator shows stronger pressure on the price lately – GOOOOD So Guys. That’s it. First of all, don’t panic and the most important don’t sell now. Are you BTC evangelist? Are you in? Please do JOIN us. HUGE Hugs! WBM Team
BITFINEX:BTCUSDLong
by WBM_Team
SC – Sia coin – Hard Fork is coming – profit/loss ratio 963%Hi Guys! Most of you already have heard about the hard fork of Sia. We read about that a lot and we think this is a good idea. To make the long story short. They produce their own ASICs. They are called Obelisk SC1. They are used to dig Sia coin and maintain the whole network. Everyone can buy them. However, ASCIs from Bitmain which are also used in Sia network, determine almost 45% of the whole hash power rate. This looks a bit dangerous when taking into account potential growth of dominance of Bitmain and their hardware. Within a weeks/months they could exceed the level of 51% and if they are intentionally very mean, take over the whole network. So (almost) none of the creators want such situation. 51% owned by one company? No way! So, as a result, they decided to change the algorithm and unable Bitmain and Innosilicoin to operate in Sia’s network. So within the last couple of days, SC grew over 20% which constitutes the fact the community has taken this information as a good omen. The hard fork will come into effect by the October 31st. There’s no plan to issue new coin. If somebody will do it, basing on the old network, the new coin might be issued but there are no guarantees that any exchange will support it. Technical analysis details: • Very low at the Fibonacci scale (only 70 sat over minimum value) • Probably double bottom forming • Ichimoku Cloud - over Tenkansen and the cloud – strong bullish • MACD – bull’s cross over the level of 0 • Chaikin Money Flow – strong pressure on the price is getting even stronger – take a look at the angles. Fibonacci targets (this can take a while as those are taking into account whole price span): Target 1: 0.00000235 Target 2: 0.00000353 Target 3: 0.00000457 (end of double bottom) Target 4: 0.00000544 (mid-term) Target 5: 0.00000679 (long-term) Target 6: 0.00000852 (long-term) So, as a result, we can lose 70 sat and win 730 sat which makes a great profit/loss ratio at the level of 963%. So do you think hard fork will have a positive influence into Sia’s future? Are you hodlers of this project or you just trade? Massive Hugs! WBM Team
Long
by WBM_Team
8
ETH-USD Short Update - Bear Flag Breakout Sub $100 Potential This is just a brief update to the Bear Flag Pattern I have been following in ETH-USD. This pattern started to present itself back in early September when ETH dropped out of the $280 range all the way to low $170s on September 11th - September 12th. The bearish flag pattern is forming nicely and has been confirmed by multiple data points over the past two weeks. Within the original large yellow bear flag pattern charted, another smaller blue bear flag pattern also appears to have formed. If ETH crosses the lower bound of the smaller blue bearish flag then I believe it will quickly cross the yellow lower bound and lead to a large downwards breakout. The larger yellow bear flag pattern's second leg down (the start of the blue flag) was a smaller dip than expected. I believe breaking the yellow flag at this point will result in the large downwards breakout originally expected (green line down). I am posting an update and new idea related to this position because I am keenly watching the MACD on both the 8 and 4 hour windows. The last time the MACD fully crossed down on the 8 hour we saw decent price movement downwards from the upper bound of the yellow flag which formed the new smaller blue flag within the original pattern. Yesterday I posted an update since it appeared it may cross the 8 hour soon. This is illustrated by point "A" on the MACD and the ETH chart. The cross was denied yesterday but it looks like we are close to another downwards cross, see point "B" on the chart. Since I am trading high leverage I am waiting to enter until the trend fully breaks out. I am looking for a clear cross on the 8 hour before I enter. I believe these current prices could be a fair entry point but ETH is especially volatile and I don't want to get wiped out by leverage before we see the downward movements I am predicting. I am setting up entry points from $220 down to $210, even $205 depending on momentum, if this is the breakout I am expecting we could see a price decline along the length of the green line of the larger bear flag. We could see sub $180 ETH prices in the next 2-3 days if it breaks now. I will not be entering this trade until it crosses. I think it could be profitable to enter now but that is up to you as an individual and your risk tolerance.
BITFINEX:ETHUSDShort
by Captainsmugglebutt
BTC hitting midpoint of Regression Trend meanAs the title says, we are currently hitting midpoint resistance of the the Reggression Trend channel. Although weaker than the tops and bottoms, this usually presents its's own support and resistance. We already saw a nice volume spike and a spike on the 30 min chart in the CMF to confirm the breakout. We will need to show more strength to overcome this area as well. Keep an eye on oscilators divergences CMF not looking great but also not terrible. OBV bee climbing steadily despite lower prices. We just broke the 4 HR ichimoku cloud as well with a green forecast. Looking prime to break out, but this is also where you can have your largest drops. Manage your risk and trade safe. Will assess targets when that happens
BITSTAMP:BTCUSD
by Gouws199
ETH - Buyers need to step in here!!! Ethereum broke below is demand zone on the break of the channel but bounce right off the POC and moving right back into resistance that was once support. RSI has turned up and still has room to go before hitting resistance and MACD histo is nearing positive territory while the signal lines still have some time before we get a bullish cross. We are still not getting the volume we would like on this move up so remain cautious until we get a break on volume of this supply zone and re-enter the channel. Thanks guys!
BITFINEX:ETHUSD
by CM_Trades
Potential Bear Flag?*NOT FINANCIAL ADVICE - JUST MY OPINION* On the 4 hour chart it looks like a potential bear flag is forming - what's interesting though is that every bear flag that's formed off the rising support line has been negated - which I've circled. Based on the RSI & Stoch RSI on the 4 hour chart entering an upward trajectory, my anticipation is that we will see consolidating upward momentum for next day or two maximum, a bear break to the bottom of the support channel once volume comes in (I don't expect this bear flag to reach it's full target as that would break our support that has been extremely strong last few months) and if we are following previous patterns, the DAILY Stoch RSI at that point should reach oversold conditions - which should lead to another bounce of the upward trending support line. My guess is except the price to reach the ~$6,200 level by 28/09 when volume comes in and bear flag breaks down - then expect a consolidation along that level ~$6,200, this will form a pattern that would resemble a bearflag again & that bear flag to be negated & to bounce upwards from there if we are following the higher lows pattern and upward trending support line + also following the pattern of negated bearflags circled in last few similar price movements on the chart.
BITFINEX:BTCUSD
by gtra8
Potential 45% (no leverage needed)Cryptotraders are too focused on BTC pairs. Why not pay attention to ETH pairs as well? Look at the XMRETH chart. See that nice, predictable volatility? Ether and Monero aren't strongly correlated. These are two cryptos that with very different concepts and goals, so their prices tend to be uncorrelated (that is, compared with other cryptos). XMR will release bulletproofs soon, and we might see a temporary 'sell the news' downturn or perhaps stagnation. In contrast, ETH has already dipped over the past week, and we should expect it to regress to the mean, maybe even hitting $400. As a result, ETH may go up against XMR. I might be wrong, you never know. Maybe Monero will keep going up, perhaps peaking at 0.64. But I wouldn't bet on it. I would rather sell part of the XMR I bought at $80 and hold ether for a while, rebuying Monero all the way down to 0.3 ETH.
XShort
by modern_day_astrology