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Update

22/09/2020Previously I had posted this chart and some ideas. Then I had no idea where BTC would be going as the dump we seen when the chart was posted was completely unexpected by myself so it was very messy. Continuing from that post, the price did break down past the second purple box quite a bit and continued to drop. We then began a recovery only to drop again. The bottom seems to be finding some support on the .786 fib retracement level and some resistance around the second purple box. I have also added the CME gap that has yet to be filled although some may argue it already has but I would beg to differ. With the recent news of more potential restrictions due to the pandemic and also more bail outs needed for alot of countries, combined with CB interest rates/inflation there is a strong possibility we could drop further if we break this fib level. If that should be the case, I would watch for the CME gap to be filled. To be honest, I am not at all sure where we are going right now but the further downside is looking more likely for the shorter term (as I have this charted on the daily TF), I am also going to publish a weekly chart I have been watching. Once again, I apologize for the crap description... I know what it means and hope the drawings can speak for themselves lol. Thanks.
COINBASE:BTCUSD
by Crypto_Jakk
03/09/2020Just a quick update... If this is one entity buying and selling, manipulating the BTC price, it seems to be between fib levels .618 and .382 / .236 however this is just speculation and we could move down to the CME gap at 9600s if the level breaks or we could play consolidation within these levels for a while shaking out positions.. or then again, that could have been the correction and we would go higher from here. The daily is looking bad but if this is 'the bull run', we should expect major moves like this. I have been stopped on most of my positions by now so I'm just sitting back and watching this play out to see where it ends.
BYBIT:BTCUSD.P
by Crypto_Jakk
1
02/09/2020In this chart with the MA's added, I used the fib extension and extended the 0 level and .236 level. Notice how the close of yesterday (01/09/2020) and also the wick bottom of today's dump candle are exactly these levels. (01/09 close @ .236 and the wick of today @ 1.0). Today's dump candle was an engulfing beaarish candle, or is so as I type. This is something we usually do not want to see in a bull market however the retrace was only 5% and although it looks alot, Bitcoin is notorious for 30/50% dumps or more in a small time, even 30min or an hourly candle so I would worry about this drop too much. An over leveraged 'longs' shakeout IMO and that's all I will be seeing it as until I get further data that proves otherwise. Please do not FOMO into ANY kind of position based on small moves such as this, they are 'designed and executed' to take orders and keep the trend healthy, not allowing everyone to over leverage and get too comfortable with the uptrend or bull market. (Personal opinion)
BYBIT:BTCUSD.P
by Crypto_Jakk
3
02/09/2020With the dotted vertical lines drawn, I had ruled out this move on September 1st after BTC continued to pump and not retest the first purple box. Today however, we had an unexpected dump down and it went through the first box but found support above the second. I think this validates the TA once more and the move to the upside is now in play. This could be interpreted individually but for myself I think the dump today has brought the retracement and furthermore a pump upwards just as likely as when I posted it. Today's dump seemed like a sell off, although there was an order block around the 11.1k level, likely to be some sort of manipulation, otherwise I would have expected that block to be moved down further towards the 10.5k mark. Many longs during this uptrend were liquidated and the move could possibly FOMO people into shorts but I would approach with caution as we could very well see another downside play. Most of the market was red today but this would be a good opportunity to load up on your favorite coins, I would not recommend selling because of a 5% downside move. Thanks for taking the time to read this update.
COINBASE:BTCUSD
by Crypto_Jakk
01/09/2020The 21MA in red is the MA we need to get and stay above. Failing this and the break of the purple line or bounce off the first box and then a break of the line, I think we could come down and test the lower box. This would turn my bias towards the downside and if a bounce from that level failed and a break down through it occurred, I would imagine Bitcoin would most likely see the higher or mid ranges of 10Ks, possibly testing the 10.5K resistance we had previously struggled to break. Lets all hope that doesn't happen lol, though if it did a gain in the Altcoin market would serve up some great opportunities for those who take interest.
BYBIT:BTCUSD.P
by Crypto_Jakk
3
01/09/2020Coming from the monthly close on a spinning top type candle on the daily chart for Bitcoin and also from an uptrend, if the daily retraced down I would expect a bounce off the first purple box to continue the bullish momentum and resume the uptrend. If this was the case, there are still some barriers we need to clear before we would hit my expected target of around 13k mark. Staying above the 11.7K then the 12/12.1K levels would be key for this to play out. Hoping this is the scenario, BTC should be able to clear the 12.5K barrier and continue upwards.
COINBASE:BTCUSD
by Crypto_Jakk
1
15/08/2020Classic weekend Bart pattern. I honestly cannot say I am surprised, I was actually expecting it. We had the same over a weekend not long ago and I knew after the pump towards the 12K mark was going to retrace, shorted it for a small PnL but was not enough, I should have waited longer and I would have caught the Bart drop. Up around these price levels we will have people taking profits and some miners capitulating at a higher price. I would not rule out another higher end pump followed by another dump for some to take profits at the highest level possible. Be careful trading this market and ALWAYS use a stop. Don't get REKT! Happy trading friends.
BYBIT:BTCUSD.P
by Crypto_Jakk
#Bitcoin - Ascending triangle updatein my last post, i mentioned it's too early for us to know Now we know!! more I am trading & charting I am starting to understand both Support & resistance are not A SINGLE LEVEL but actually Zones!!, right now we are at the resistance & if we reject here I am HOPING THAT fibs will hold & trendline support as well. Once we break & close above the red box we will go up for sure, I have my long bids waiting around 11800 for a long position of broken triangle I AM ALSO HEDGING A SHORT HERE after 4hr candle close, it is just incase support doesn't hold & we breakdown, either way, it will be still 200$ scalp if things go as my plan
BITMEX:BTCUSD.P
by Bromadic
10/08/2020Yet again another rejection from the $12,000 mark. On the 1 hour chart, the wick came down just below 11.5K, and perfectly bounced off the baseline of the Ichimoku Cloud. This was a shakeout, 5 mins and retraced back up. The RSI had been over extended and very little resistance above so I was expecting this long order shakeout. When we settle, IMO around the 11.7/11.8K mark, I believe we will consolidate for a little while. The dump was needed to reset the indicators I do think. I hope no-one got REKT!
BYBIT:BTCUSD.P
by Crypto_Jakk