Bitcoin (BTCUSD) tried to break above EMA100 on the 4H time frame multiple times before succeeding. I would like to take a closer look at this... Please allow me to entertain you for a few minutes:
First we see over 12 failed attempts to break above EMA100, which is the blue line. But BTCUSD would always produce a higher low at each attempt.
It finally broke...
BTCUSD looks to be bottoming @ 200 Weekly MA.
Expect some sideways action range bound between 200 MA (lower limit) and 200 EMA (upper limit).
Note - volatility adjusted moving average shows strong resistance with 200 EMA in $4100-4200 region, expect large breakout above these prices.
Break below 200 MA is certainly on the table still.
This view will change if we...
So we've broken the triangle down. There's an option to hold here around the 4k mark but my preference is for a drop to around the 3900 level with the big channel showing support though the H&S target is a a bit lower into the 3800s. This also lines up very nicely with the .618 fibb level from this move up from the 3500s.
Bitcoin is sitting in a couple of down ward channels depending on which way you like to line it up. Currently finishing up a triangle which probably has the largest chance of breaking to the downside.
Depending on when and how fast it breaks down, and assuming it continues to the bottom of the smaller channel it gives a target of around 3150-3180 'ish'. This is...
This is MachineDaena serving up the latest XRP analysis for all you budding crypto enthusiasts out there. XRP may be the 'Bankers' coin but it sure is one of the best investing opportunities out there at the moment, and proved last year to be very much the same.
Taking a dive into the 2-hours charts for March and April thus far, using Bitstamps XRPUSD data, it's...
Here is what I think about BTCUSD. It will go down to touch 5781USD then will bounce back to touch 8400 USD. you can see the strong resistance throwing BTC back to its 3200USD-4996USD range. which I think is a good move.
Date to touch its support at 5781USD will be most probably 04-03-2018
and will bounce back to touch resistance at 8400USD on 15-03-2018
As the BITCOIN plummets from its 20,000 peak we have to ask is this a major retrace or a collapse?
We have no answers only opinions.
The 200 day SMA on the Daily time frame comes in at 7890.
If the BULLS are still interested then they are likely to come in here.
I'll be watching this level and any signs of a bounce I may go long.
With no technical history though...
BTCUSD MEET BEARS
People, it's nearly Christmas.
And people need to buy presents at Christmas.
People can't yet buy presents with Bitcoin.
People need to sell Bitcoin to buy presents.
Thank you for reading my poem.
I'll see you all in 2018 for the Bull Rally on Cryptos.
Expect Crpytocurrencies to be the 2nd largest volume of trade in 2018 behind Foreign...
From the $5,000 breakout, we will see downside, eventually to the $2200 - $2500 area.
From there, its BTC10K BABY!
You saw it here first, and if you weren't cool enough to buy in when I clearly told you to do so, don't blame me when you are sat there with your "real" money. #SHEEP #TheyTellYouItsRealMoney
Working with trendlines. It seems that third level of support is confirmed and uptrend seems to be valid. Is the price going to hold to actual levels?
It seems price recovered quite quickly in spite of the storm. The beast is back...
I think I might have missed the entry for the first trade but i'll get in anyway. If the first trade is stopped, i'll enter again on the second RR indicator. The second trade makes a lot more sense given how bitcoin is praised by people around the globe.