I've added Williams Fractal to my charts. Question - do we need another Williams arrow down before the next up leg? MACD looking good to go.
Have just added in a trend line from my 4 hour chart to the 2 hour chart just in case I need to switch because to a key Bollinger point for me just below $10,100 on the 2 hour chart is looking vulnerable. Otherwise no worries.
Just thought I would update my earlier charts add some more arrows and what happened last time just in case price heads back down to a key Bollinger point for me just below $10,100, but trend line still good. No worries.
Bitcoin has continued to rise nicely and we’re seeing an ascending support line hold up prices really well. Our 1st major support is at 10319 (Fibonacci retracement, horizontal overlap support, ascending support) and a strong bounce could occur at this level to further push price up towards 12970 major resistance (Fibonacci retracement, horizontal overlap...
Buy above 10356. Stop loss at 9092. Take profit at 12976. Reason for the trading strategy (fundamentally): Cryptocurrency has risen recently but recent news has poured some cold water on its recovery, especially White House cybersecurity coordinator and special assistant to the present, Rob Royce, saying that legislation around cryptocurrencies is unlikely to...
Just added another arrow to chart to show most recent time crashed through MA to lower Bollinger line, otherwise based on previous pattern market will hold at MA area or head back down till it makes contact with lower Bollinger Band - Support area. No worries. Upward trend lline still intact.
Based on previous pattern market will hold at MA area or head back down till it makes contact with lower Bollinger Band - Support area. No worries. Upward trend line still intact.
Bitcoin has shot up and reached our major resistance level at 9848 (near 10,000 psychological level, Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to 7938 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 92% where a...
Buy above 8975. Stop loss at 8181. Take profit at 10273. Reason for the trading strategy (fundamentally): There has been more positive news about Bitcoin recently with CFTC approving the creation of two subcommittees. One devoted to cryptocurrencies and the other on broader application of distributed ledgers in the finance space. There has also been strong...
Bitcoin has made a bullish exit from our long term descending resistance-turned-support line which is a strong signal that a rise could occur from here. Our first major support is at 8587 (breakout level) and our next major resistance is at 9848 (Fibonacci retracement, horizontal pullback resistance). Trading CFDs on margin carries high risk. Losses can exceed...
Buy above 8301. Stop loss at 7499. Take profit at 10273. Reason for the trading strategy (fundamentally): The most recent news surrounding Bitcoin revolves around Mario Draghi, president of the European Central Bank. He has once again stated that he doesn’t think cryptocurrency is a currency as while the euro’s value is stable, the value of a bitcoin oscillates...
Sell below 8321. Stop loss at 9805. Take profit at 5758. Reason for the trading strategy (fundamentally): There are mixed vibes going around the cryptocurrency market with JPMorgan reporting that one day cryptocurrencies could help investors diversity their equity and bond portfolios while on the other hand, cryptocurrency continues to be plagued with bad news...
Bitcoin is testing major resistance at 8587 (Fibonacci retracement, horizontal overlap resistance, descending resistance) and a drop from this level could occur pushing price down to 6064 support (Fibonacci extension, horizontal swing low support). Our next level of resistance is at 9876 (Fibonacci retracement, horizontal pullback resistance). Trading CFDs on...
Sell below 8321. Stop loss at 9805. Take profit at 5758. Reason for the trading strategy (fundamentally): News have been slightly positive for Cryptocurrency lately with some encouragement received in the form of Nvidia CEO saying that cryptocurrency is ‘not going to go away’. Along with that, Arizona has cleared a bill that aims to allow residents in the state...
It was PM'd that I should explain my position regarding the current state of the all-mighty Bitcoin. So, I've decided to open a slight position and trade BTC in order to analyze it's movement technically. Typically, BTC is my purchase for other Alts. And although other Altcoins have stepped up to facilitate this, BTC still has the main adoption. Per my analysis,...
Bitcoin is still rebouncing in a channel (7800-8400), it could stay there for a couple a few days, but when breaks trendline market will be pulled downwards with 40-45% price drop which might cause panic sell and lower the price (5800 level even deeper). Everything with Bitcoin would maybe look fine (if we deny fact that sinked already from 19.000 level to 12.000...
Inverse H&S appears to be near completion and the second shoulder is a small one, telling me that the downward pressure is weak. This may also be solid confirmation of the trend reversal during this previous consolidation period. My target is 84 hours as my experience shows that our rallies begin Thursday evenings (9pm MST) and run until early Sunday AM usually.