Still early days but this could be something to watch out for in the coming weeks.
I will be looking to open a long position below $4,200. Target price is the range high (upper dashed line), with profit-taking levels at each quarter of the range. Stop level TBD.
BTC has broken through support and retested as resistance. Entry: $4,450, Target: $4,300, Stop: $4,485
BTC is ranging within a symmetrical triangle on H1, and reluctance (highlighted in red) to close above the 50 hour MA (purple line) is leading me to lean bearish for the time being. Waiting for funds to arrive in exchange, will update with actual entry, stop, and target prices when I open a position.
I will be accumulating BTC in the $4.5k - $6k range.
BTC has broken above minor resistance and retested as a support. Ranging within a symmetrical triangle with declining volume we could see a break in either direction but as long as BTC remains above $5,515 I am bullish in the short-term. I'm also trying out something new to me in this chart: Fibonacci time zones. We'll see how that plays out.
Something to keep in mind: We are right up against the longest-term trend line (going back to 2011), which has never broken. If history is to repeat itself then this bear market will be over within two months and BTC will start making higher lows. However , my gut feeling is still bearish in the short- & mid-term. Events that have never happened before should...
I have closed all but 1/6th of my long-term long position in XLM for 38% profit after buying at .000035. We could still go higher but I'd rather take profits now than be caught out by a sudden drop once the real top is in like we saw recently with BAT (which I did not have a position in). As per the chart above, I have set buy orders at .000040 & .000038. I...
I believe we will eventually break downwards from this huge descending triangle and form a falling wedge, but in the meantime I am shorting BTC again as price looks unwilling to even approach the upper trend line (solid gray on chart). Entry Price: $6,305. Target Price: $6,025. Initial stop was $6,450 but has now been tightened to $6,325. I'm going with...
Potential H&S forming on BTC H1. Trade is open with a tight stop loss at $6,380 and current target of $6,300.
We could see another opportunity to scalp short BTC here. I have closed last night's short entirely at $6,450 for 9% profit but if BTC breaks the diagonal support and retests I will open another short position with target $6,395.
OMG/ETH forming a bullish pennant on the daily. Green rectangle marks ideal buy zone.
My expectations for BTC have not change since my last idea, 'Ascending Triangle on BTC H4'. This is just an update. BTC has broken downward from the ascending triangle and may be forming a symmetrical triangle. These typically break in the same direction as entry (in this case downward).
BTC is forming an ascending triangle but with price below resistance and RSI showing overbought status I expect a break downwards to $6,200 or below. Possible paths are indicated above.
USDT crashed to $0.85 this morning and has since recovered to $0.93. This illustrates concerns that USDT is not as safe a haven as it is intended to be. Even if price becomes stable at 1 USD again I would advise against using USDT in favour of TUSD or another alternative stablecoin. It is still a real possibility that Tether/Bitfinex are engaging in foul play. ...
BTC rose out of the range we had been exploring for the past three days but strong selling pressure above $6,250 pushed prices back down to test the sideways resistance Bitcoin seemingly broke out from a few hours ago. This sideways resistance is now forming a pennant with the longer-term trend-line. If this selling pressure continues I expect to see Bitcoin...