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BXBT trade ideas

price to reject 200/50 cross area and test 20 as supportwell, the price has been throwing us a lot of mixed signals lately, however i believe it was necessary that was test and reject this area, being that we are witnessing the first weekly death cross in bitcoin history. we have already been rejected from these MAs on the market cap chart, so i think it is likely we will print a firm rejection on this weekly candle and move to breakdown the wedge over the rest of this month. we are at the top of the wedge, at the top of the weekly bollinger band. ive been trying to graph this wedge for awhile now, i believe this is the final form. charting weekly charts makes everything a waiting game, time will be our friend here, upside is very limited by the MAs right now, so longing before a break over is irrational. conservative target is bottom trendline of the channel, then 50MA, then local low, then discovery.
BITMEX:XBT
by bmrm98
2b reversal in #BTC chart Overview The 2B reversal pattern, also called the "spring pattern", is a popular chart pattern professional traders use to identify potential trend reversals. It occurs when the price appears to be breaking down or up and then suddenly bounces back up/down, forming a "spring" or "false breakout" pattern. This pattern indicates that the trend is losing momentum and that a reversal is coming. In a bearish market, the "spring pattern" occurs when the price of an asset breaks below a support level , causing many traders to sell their positions and causing the price to drop even further. However, the selling pressure eases at some point, and the price begins to rebound, "springing" back above the support level . This rebound creates a long opportunity for traders who can enter the market at a lower price. In a bullish market, the "spring pattern" occurs when the price of an asset breaks above a resistance level , causing many traders to buy into the asset and drive the price up even further. However, the buying pressure eases at some point, and the price begins to decline, "springing" below the resistance level . This decline creates a selling opportunity for traders who can short the market at a higher price. █ What are the benefits of using the 2B Reversal Pattern? The benefits of using the 2B Reversal pattern as a trader include identifying potential buying or selling opportunities with reduced risk. By waiting for the price to "spring back" to the initial breakout level, traders can avoid entering the market too soon and minimize the risk of potential losses. █ How to use Traders can use the 2B reversal pattern to identify reversals. If the pattern occurs after an uptrend, traders may sell their long positions or enter a short position, anticipating a reversal to a downtrend. If the pattern occurs after a downtrend, traders may sell their short positions or enter a long position, anticipating a reversal to an uptrend. █ Consolidation Strategy First, traders should identify a period of price consolidation or a trading range where the price has been trading sideways for some time. The key feature of the "spring pattern" is a sudden, sharp move downward/upwards through the lower/upper boundary of this trading range, often accompanied by high volume . However, instead of continuing to move lower/higher, the price then quickly recovers and moves back into the trading range, often on low volume . This quick recovery is the "spring" part of the pattern and suggests that the market has rejected the lower/higher price and that buying/selling pressure is building. Traders may use the "spring pattern" as a signal to buy/sell the asset, suggesting strong demand/supply for the stock at the lower/higher price level. However, as with all trading strategies, it is important to use other indicators and to manage risk to minimize potential losses carefully.
BITMEX:XBTShort
by cryptopedia_trade
1
Stones in the middle of the way!The monthly chart formed a bullish pivot, so it is only fair that there is a correction to the 50% FIBO region for the crypto to continue its rise! -If prices start working below the $19.8K region, the trend could be reversed, so I don't rule out that prices will even test the $19.8K region. -On the weekly chart, SETUP is already suggesting fatigue on the part of the bulls, so it will be more difficult for them to keep buying and hold prices. -Going down a little further, on the daily chart, things really seem to want to get more complicated, as we have a bearish pivot formed and confirmed, where, your tendency is at least to look for the support of the long average to keep in an uptrend . -If the average doesn't hold, the $18.2K region could be the destination! -The stones are in the middle of the road, will the bulls throw them up? -Do your analysis and good business. -Be Aware, If You Buy, Use Stop! -See below for other reviews!
BITMEX:XBT
by MacD_Bollinger
Double zigzag WXY, don't you think so? I've posted many times on this exactly the same counting in the sense of the Elliott wave theory. This time I elaborate on it. In this hypothesis, we are in X of WXY, whose bottom could be 7500 +- 2000, a roughly 1.236-1.272 retracement from the 65k & 69k double tops or the inverted A&E. This double zigzag should be a global 4th wave. This scenario will be invalidated entirely above 29k where C of X unambiguously exceeds Fib 1.618 level of A, violating the flat correction schematic. For more detailed calculations, please look at the related ideas below.
BITMEX:XBTShort
by jackrabbitrage
4
Bitcoin Longs At All Time High! BITFINEX:BTCUSDLONGS Looking at the chart of Bitcoin longs, we can see that the number of traders holding long positions has reached an all-time high of 105,000. This indicates that market sentiment is currently bullish, with traders expecting the price of Bitcoin to continue to rise in the near future. However, it's important to note that high long positions don't necessarily mean that the market will continue to move in one direction. It's possible that some traders may take profits or close their positions, including exchanges, hedge funds, whales, ect which could lead to a short-term price correction. As such, traders should remain vigilant and keep an eye on key support and resistance levels on the chart, I have identified a few KEY LEVELS to hold: 1) 24.3, 2) 23.3-23.1, and 3) 22.5. Pay attention for these potential corrections as well as any potential market-moving events that could impact the price of Bitcoin. Keep in mind FED Minutes are Wednesday the 22nd. Overall, while high long positions may be a positive signal for Bitcoin and my bias is extremely bullish.The Super Guppy Indicator was mentioned in TV news today and if you are familiar with it, its almost a self fulfilling prophecy. If these resistances on bitcoin or alts are broken, expect explosive upward movement as there is little to no resistance especially on ALT coins. Stay Cozy frens, for now our Bera brethren are still hibernating REMEMBER *NOT FINANCIAL ADVICE* i am just frenly helperz
BITFINEX:BTCUSDLONGSLong
by HeReportedMuh
Local Levels IndicatorThis Pine Script is an indicator for financial chart analysis. The script includes Bollinger Bands, simple moving averages, pivot points, momentum, and bullish/bearish signals. The script allows for customization of the chart with inputs for the length of the moving average, the number of bars to the left and right of pivot points, and the ability to turn on and off the bull/bear labels. The momentum of the chart is measured with the Money Flow Index (MFI) and is shown on the chart with a line and fill color based on its value. The background color of the chart changes based on the MFI value, and three different labels display information about the MFI and the overall trend. The script also includes a data table that can be turned on and off to display the bullish/bearish information.
BITMEX:XBT
by Index420