It's been a while since I shared some numbers for Bitcoin (BTCUSD).
We have a trade active now on 10X lev. and I would like to share our targets with you for learning and/or entertainment purposes...
Here they are:
-> We opened a SHORT Friday with a buy price of around $11110 - $10850.
-> We are using 10X....
We have Bitcoin (BTCUSD | 4H) facing resistance at MA200, the black line on the chart.
A strong drop followed after BTCUSD closed below MA200 back on 2-Sept.
Prices dropped from ~$11600 all the way to $9800+.
Today we have a rejection at MA200 on the 4H chart...
We have a bearish cross on the MACD.
Bearish divergence between BTCUSD and the MACD.
Bitcoin (BTCUSD) on the daily timeframe is still looking bearish.
The classic bearish flag is now showing up as a pattern while prices remain trading below EMA100.
If a bounce happens resistance is likely to be faced at EMA50 ($10935).
If prices break lower we have support all across the $9ks.
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We predicted Bitcoin (BTCUSD) hitting around $9600 but...
As soon as this happens a new question comes up...
Will it resume growing or will it go lower?
Let's keep it simple shall we?
Bitcoin is very likely to go lower.
Now, I am not saying this based on upcoming news...
Ethereum (ETHUSD) moves back to follow Bitcoin (BTCUSD).
On the last move, ETHUSD went on to post a higher high while Bitcoin printed a lower high...
The chart for Bitcoin was clearly bearish but Ethereum instead looked like the bulls had won.
Now we have prices breaking below EMA10 on increasing volume and momentum building upon the drop.
The green resistance line has been respected in the past which indicates a potential drop in pricing.
-RSI exceeds the 70 level showing that it is most likely to come back down.
-2 long wick candles at the green resistance level.
- a large bearish engulfing candle followed by...
-... a retest and a rejection.
-when scaled down to the 4 hour time frame...
Ripple (XRPUSD) did great and grew a lot in just a few days... We had a great chart out about this move.
Now, things changed and prices are retracing... It is time for the smaller capped altcoins to grow.
Here we have XRPUSD showing a lower high after a peak and prices breaking below EMA10.
We will see lower prices and here I've marked the next support.
Bitcoin had a very strong close in July at $11350, hitting a new high and the highest price since August 2019... 1 year ago.
This is a huge development and opens the door for additional bullish action.
We've been aiming at the highs $13k/$14k on multiple timeframes if the $10400/$10500 barrier was taken out...
This is true in the monthly timeframe as well.
Bitcoin ( BTCUSD ) continues trading above EMA10 keeping it bullish ...
We are also above the 0.786 Fib. extension level mentioned in my previous analysis.
As long as we remain above these levels, the bulls stay in control.
If prices drop and close below 0.786 Fib. followed by EMA10, we can say that the bears enter the stage but we still remain bullish...
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...
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 (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...
We waited for the weekly candle to close for BTCUSD (Bitcoin) to see if prices would either close above or below MA200 at $5524... MA200 failed to hold and now EMA300 ($4740) is being challenged... What happens next?
The trading volume is really strong on the drop, it is the highest since November 2018 and there is surely additional room for a drop.
We've been warning for many, many months about the upcoming Bitcoin drop.
Our target always has been around $5,500+ before the 2020 Bitcoin Halving, followed by sustained long-term growth.
Just as we expected, Bitcoin (BTCUSD) dropped and is now looking for support.
THE GOOD NEWS
Just as we saw the BTCUSD hitting $5,555, after the halving we will see prices...
The weekly candle for Bitcoin (BTCUSD) closes in less than 1 hour and prices are starting to move below EMA50... This can lead to an additional drop.
If EMA50 ($8242) fails to hold as support, BTCUSD is very likely to move lower and hit $7414 or EMA100. The indicators are bearish and last week's candle is a full bearish one.
Here is the previous analysis | Feb...
It's been a while since my last analysis on the XRPBTC (Ripple vs Bitcoin) chart... This is one of our favorites.
XRPBTC printed a higher low on low volume... This retrace is coming to an end.
Many other altcoins pairs have a similar chart, a strong retrace that produced a higher low, and ended up in a strong bullish breakout, this can happen for Ripple as...
Here we are looking at Bitcoin (XBTUSD) on the 1H timeframe (Short-term).
Prices are moving lower within a broadening falling wedge.
Trading volume is still low so this move is yet to develop.
The indicators are trending down/lower (RSI and MACD).
Prices for Bitcoin (XBTUSD) can drop (red arrows) before moving up (green arrows).