Here we are SHORT now with XBTUSD (Bitcoin) and we are going on 8X... Let's have a quick description of the above setup.
1) First, we have the higher low which we mentioned in previous articles.
2) Prices are now trading below EMA10 and we have decreasing trading volume, going lower and lower.
3) A recent rejection of prices while they tried to move and close...
Here I've mapped the Bitcoin (XBTUSD) chart for you.
First, notice the trendlines...
We have a lower high.
EMA10 being challenged as support.
Indicators trending down.
This setup can easily lead to lower prices.
Make sure to have a plan if you decide to trade.
This is not financial advice.
Remember the bounce I mentioned in my last article?
"As soon as this bounce is done... You can expect Bitcoin to drop some more."
Right now we have a lower-high (bounce) on the daily timeframe which supports the bearish view.
We have the trading volume going lower and the indicators starting to turn.
Prices are still trading above EMA10, but the lower high and...
The Dow Jones Industrial Average Index (DJI) is also looking bearish.
This chart tends to look very similar, almost the same, as the SPX (S&P 500 Index).
The signals coming from this chart goes as follow:
1) Decreasing trading volume.
2) Lower high.
3) Bounce completed.
4) Drop below EMA10 and EMA50.
5) MACD bearish cross while trending lower.
6) RSI broke below...
Bitcoin (BTCUSD) woke up bullish Wednesday and prices are starting to move up, this opens us up for a few questions like...
But, what happens next with Bitcoin?
We continue expecting a drop or we will now go bullish?
Where is my stop-loss?
1) We are still looking at a lower high based on the candles wick but we have a higher high based on candle close......
Bitcoin (BTCUSD) continues to print lower highs with indicators (RSI and MACD) going bearish.
Now that prices are once more going below EMA10 after a lower high, we are likely to test the next support... Meaning, EMA50 will break, and EMA100 at $8110 will be tested.
If prices bounce, the orange trendline needs to be conquered first before additional up.
Recently we looked at Bitcoin ( XBTUSD ) short-term on the 1H timeframe, the chart was looking bearish.
Here we have BTCUSD on the 4H timeframe and the bearish bias is gaining a bit of momentum now, still developing.
Prices broke below EMA10 with the next target sitting at $8334 or EMA50.
It is still early on this drop and the trading volume is still low but,...
I sent out an early signal about Bitcoin (BTCUSD) dropping... I know it is really early for many people but these are the signals coming from the charts.
I am only reading the chart... The chart can always change and is always changing as each candle closes.
At the time of writing, this is what I am getting from the BTCUSD (Short-term) 1H Timeframe chart.
Let's take a look at Bitcoin's ( BTCUSD ) peak prices since ATH in December 2017.
First, we have Bitcoin's All-Time High ( ATH ) sitting at $19891.99.
A higher low hit in June 2019 at $13868.44.
Then we have a recent peak in February 2020 at $10522.51.
On the 30th of April, another peak was hit at $9478.66.
We are looking at lower highs.
Few questions are starting to come up now that Bitcoin (BTCUSD) is clearly moving higher...
- How far up can it go?
- Where can we find the important support and resistance levels?
We are looking at Bitcoin (BTCUSD) on the daily (D) timeframe
We have really good trading volume, the bulls are now in full control.
EMA300/MA200 fully conquered today....
Bitcoin (BTCUSD) has been a slow recovery with slow and steady growth which is now turning into a "strong recovery".
We have a "V-shaped" bottom and there was only one barrier left to know if Bitcoin would produce additional up.
This resistance is at $7865 and is now being challenged on the weekly timeframe.
Prices for BTCUSD are safely trading above...
Bitcoin (BTCUSD) is preparing to jump and will surely find resistance at ~$8,000 or MA200, marked on this chart with a black line.
Prices for Bitcoin managed to conquer EMA50 so additional growth is possible.
We have bullish indicators with low trading volume.
While the trading volume is low, we are seeing green bar after green bar being printed... A strong...
Hello my fellow cryptocurrency traders, how are you feeling today?
I would like to share with you a quick update on the overall look of the altcoins market, we are looking at all the Altcoins vs Bitcoin (ALTSBTC) pairs.
We also put our focus mainly on all altcoins minus the TOP10, which move closer to Bitcoin rather than the smaller alternative coins which...
This is what we have now for the S&P 500 Index (SPX):
A rising wedge breaking down.
Prices going below EMA10.
Indicators turning bearish.
It is looking down now.
If support is found on the blue dashed line, a short-term bounce is possible before more drop, but it is likely that it goes straight lower.
Thanks a lot for reading.
Bitcoin (XBTUSD) continues with a slow but consistent recovery from the strong mid-March drop, prices hit EMA50 ($7302) today.
EMA50 is an important level in the daily timeframe, breaking above it can send Bitcoin higher up.
Right now prices continue to increase but the trading volume is still low, so we need to be cautious as things can turn fast here with...
Bitcoin ( BTCUSD ) has been consolidating while prices remain above EMA10, EMA50, and EMA100, telling us that the bulls have the upper hand.
EMA10, EMA50, and EMA100 telling us that the bulls have the upper hand.
We can also see the ascending triangle pattern which also leans towards the bulls.
A breakout might happen soon... Where do you think prices are...
Bitcoin (XBTUSD) recently closed below EMA10 and now also EMA50 has been broken as support... With this break, prices can easily move lower and hit $5660.
If $5660 breaks (red arrow), then prices can go even lower and hit $5250/$5300 short-term, depending on how this level is handled we can look for the next move, at that time we can share a new analysis if you...
One of the most famous signals became the CME GAPs and this one is telling us that Bitcoin (BTCUSD) can move back up... We also have a "V Bottom"... See it here:
On the chart above, we can appreciate the following signals:
BTCUSD broke bullish above the...