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BXBT trade ideas

Bitcoin Can Trade Below $28000 Again!Hi Traders, I have been bullish in my last few Bitcoin Elliott Wave analysis I published here. However, I'm having an alternative bearish view due to the recent price action. The rally from $28798 low seems to be unfolding as a double zigzag correction. The first zigzag is completed and the second is in the making with its circled wave b unfolding as a triangle. I'm expecting a rally higher to complete the wave (y) zigzag before any reversal. As long as the expected rally stays below black wave 4 high, black wave 5 will consider incomplete and might be unfolding as an ending diagonal. Price should extend lower with series of overlapping wave till it trades below the pink wave (i) @ $28798. What's your view on Bitcoin? Kindly let me know in the comment! Thanks.
BITMEX:XBTShort
by Veejahbee
3
July 6th 2021 BitcoinHello guys, Jim Carrey is known for executing a successful habit in a daily basis. In 1985 Jim Carrey used to be a bit part actor he wrote himself a 10 million dollar check and dated it 10 years later. Call it a coincidence, 10 years later in November 1995, he found out he was cast in the movie Dumb and Dumber for — you guessed it — $10 million. I'm a huge believer of the R=VD equation and it has totally changed my life. So what's this R=VD equation? It is said that if one dreams vividly, there is a high chance of it becoming true, like Jim Carrey. I'm 1Percent and I will be your companion from now on to achieve the top 1% and share quality information such as investment mindset, strategies, stocks and crypto technical analysis . The power of dreaming is POWERFUL and should not be underestimated. I believe that we are in the Golden age of opportunity with crypto and I will go through this journey with you together . Now let's take a look at the Bitcoin chart which could help us look at the general direction of the crypto market. Using the Elliott wave theory, we've recently seen a beautiful bounce from 28808 composed of 5 waves which could either mean that we're in a trend reversal or a technical bounce. Since we saw a 5-3-5 we are either done with a technical bounce or in our 4th wave before the 5th. We've seen a rejection of the blue trend line in the red resistance zone which gives the bears the advantage for now. There are major hurdles for the bulls until we reclaim the weekly high. We will have to see if the key levels hold and if we start breaking 30173 and ultimately 28808 I will be looking much lower. Again, for those that are looking into getting into swing positions, this is a no trade zone. I personally would wait for a confirmation to the upside or downside after getting out of last week's range. We'll get a clearer picture of the bigger picture once we do so. Stay safe out there and always keep your stop losses if you're trading. Keep your dreams real. 1PERCENT
BITMEX:XBTShort
by RVD_ONEPERCENT
Bitcoin on Crossroads Bitcoin has had an amazing BULL's year looking back since March's 2020 Black Swan Event with a price as low as 3.850$, and took less than three months to having find a breakout at 10K from 3.8K of March's Lows and it ran to the previous ATH 20K. After breaking the last all time high of 20K and creating Support on it, 65K has been printed as the NATH with some stops at between 40-50K level area, putting new all time highs one after another trending bullish with Higher Highs and Lower Lows from 20K. Fibbonaci Retracement with the Golden Pockets colored on orange thick straight lines, is taken from the apex of 20K ATH in 2017 to 10K Brokeout, a level that Bitcoin found HUGE BOUNCES when people was trying to catch a falling knife, and that's the area we bought and swing traded to the utmost profitable trades that was given by crypto raging wild <3 . The Gann Fann projections is taken also aswell from the 10K breakout triangle apex of 2017's ATH, and the 1/2 trendline splitts the Bulls against Bears in terms of TREND, which at this moment we speaking it is another speculative confluence on TA. The crossroads are the Pitchfork which we currently still on trades but consider taking profits for full trend confirmation while we also have the light blue descending channel having a previous fake out and where BTC's at, it may happen to be just another one fakout, but worth mentioning is that retest on Technical Analysis has happened twice and seems to be respecting it. The bigger Pitchfork is take from 65K ATH to 29K lows and the highes point from that DUMP, but we are already out of it on important zone-levels. While the ne shorter time frames the smalled Pitchfork has been helping us a lot to trade the outside of the descending channel's second break out. Where will Bitcoin be headed this quarterly summer? Throw your guess at the comment section down below :) NOTE THAT THIS IS NOT FINANCIAL ADVICE! PLEASE DO YOUR OWN RESEARCH BEFORE PARTAKING ON ANY TRADING ACIVITY BASED UPON THIS IDEA
BITMEX:XBT
by Mr_J__fx
BTC what are you up to?After waiting and waiting and seeing we are still going sideways it starts to seem like we are going to do one leg lower before the next bull-run. There are similarities if you compare this to the 2017-2018 bear-market and the final leg down is still waiting. On top of that, if you compare this to Golds fractal you can see ton of similarities too. Somebody posted a good comparison chart of Bitcoin/Gold already so I wont bother. Look it up yourself. Im expecting something between 23-25k.
BITMEX:XBTShort
by Chartmanderr
1
A bull Flag turned into a symmetrical triangle formation?Bitcoin saw a sweet bull flag breakout get rejected on the daily horizon. The Bullish target would have pumped Bitcoin all the way to 58k-62k with a 56% increase (560% profit at 10x Leverage). However, a rejection confirmation here can send us back down to hell (not as bad as it sounds though "local hell") but this isn't a bad thing! For traders out there looking for profitable trades, this can give you a nice 20% profit from a short (even higher with a decent leveraged position) and a massive 81% pump to the upside right after that. Be careful with your trade and have a nice week!
BITMEX:XBT
by Bulltoshi_NakaWOOto
Fake Outs Explained - AdCrypto TheoryHi there, Basically you need to stop looking at horizontal lines only otherwise you will just be looking at order blocks, you need to expand and start looking diagonally.. In diagonal lines where it closes is more important than the wicks, as wicks generally represent peaks whilst where a market closes/enters is specific to the overall trading range (not always obviously you can get spikes within the last 10 minutes but overall it is true)... Either way, it's more accurate for determining trends when they are moving diagonally as opposed to just break outs from orders.. Buying above a break out is safe or at the bottom range next to support is safe, however buying in the middle opens you up to mistakes as fake outs happen that mislead people into thinking a new trend has formed..
BITMEX:XBTShort
by Ari99
1
Bitfinex Margin Long ChangesBrainstorming This is a back-of-the-envelop analysis of the correlation between Bitfinex margin long positions and BTC price. My intuition is that a more disciplined analysis of Bitfinex margin positions, crypto exchange flows, margin funding rates, and changes in something like the SPY ETF could yield a predictive model. There appears to be some relationship between these two data series, but only when there is a large change in the Bitfinex margin positions. In 2021, generally, margin longs correlate with BTC price. If margin longs were to decrease, BTC price would likely fall due to selling pressure. Again, this is a back-of-the-envelop analysis. Broad market sentiment likely influences the Bitfinex long and short margin positions. So, the correlation will not be stable. Watching changes in the Bitfinex margin longs may help forecast BTC price... but this has not been proven in this analysis. I do have a bearish bias at this time. More to come as I continue to think about this. Thoughts? Comments?
BITFINEX:BTCUSDLONGSShort
by UnsungTraderTV
1
BITFINEX SHORTS HAVEN'T BEEN THIS HIGH SINCE 2019 (bearish) BTCGood morning traders, The last time bitfinex shorts we're this high was late June 2019. We're currently sitting just above support $30,000 and have seen a shooting start on the BTCUSD SHORTS chart which may indicate a messy weekend and support lost. Support levels below: 1) $28,888 2) $23,888 3) $19,999 4) $14,000 5) $12,500 6) $10,500 7) $9650 Not saying we hit all support levels but you should keep them in the back of your mind in case we see an extended bear market and head down to the $20,000's and $10,000's.
BITFINEX:BTCUSDSHORTSShort
by YurloTrades
15
update to radar from prior postWatching the bitcoin shorts unload, a few things are on my mind. first some preliminary recent events that are significant to what i am trading / accumulating. 1. Rallying DXY, crude above $70 2. sell off of hedge assets and commodities (gold, silver, crypto, lumber soy corn etc.) 3. the china fud to rule all fud: 90% mining gone leaves 10%. ok well if only 10%, you need now 5.1% to make a 51% attack realized. i'm still uncertain about the ins and outs of this, but perfect timing during seller capitulation for the macro. 4. bear narrative is running flat with tether minting. LOL. 5. Jay clayton is now gathering alot of chinese collusion to his term narrative (already being controversial) at the SEC. there are many pointing the finger at fauci, and pelosi, now this guy, as easy optics for all of your problems. 6. LINK is now onboard to facilitate SWIFT financial system. this could lead me to believe that LINK is now iso20022 compliant and is helping to facilitate the switch over from traditional financial systems. 7. they haven't stopped printing. Trading Disclaimer: All trades and ideas posted from this account, including setups, are given for educational purposes only. 95% of trades never win, and instead realize losses. Trading involves risk, there are zero guarantees that you will win any given trade, including this one or others related to it or this account. If you follow any setups, you do so at your own risk, taking full responsibility of any actions and / or outcomes. Nothing posted is to be taken as financial advice. The information and opinions presented by this account should not be construed as investment or trading advice, and is not meant to be a solicitation or recommendation to take actionable trading on any asset, cryptocurrency, securities, or any other tradable digital asset. All content presented is for entertainment and education. No Financial Advice. Past performances are not a guarantee of future outcomes and or results: trading involves strategizing probabilities, there are no expectations on any given trade. Always do your own research and consult a team of professionals from finance and law before proceeding with any type of action in personal finance. All information provided by this account is a general market commentary and does not constitute investment advice or financial advice. None of the information communicated in this accounts tradingview publishings are financial advice and/or incentives, solicitng, advertising, manipulation tactics, and any other malicious behaviour - no, solely for entertainment purposes ONLY.
BITFINEX:BTCUSDSHORTS
by The_Clown_of_Smyrna
1