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Bitcoinshort

Elliott Wave: 4th wave, get ready to go down, build the 5th wave🎯 I focus on Modern Elliott Waves (Neowave) because this strategy gives me objective to start entry and stop levels. #BTCUSD 📚 According to the Wave Theory: wave 4 cannot cross generally the bottom of the 1st wave in impulse waves . So, we can use the bottom of the 1st wave as an invalid level for a bearish outlook 🤓 Such trades give a limited risk, and the potential reward is always several times greater than the risk. Just what we need!
COINBASE:BTCUSDShort
by erbe
11
BITCOIN BREAKS DOWN: FALSE BREAK OR MORE DOWNSIDE?Hi guys, this is OG back with another Bitcoin update. If you find value in my work, please do like, share, and comment. And also feel free to share your ideas and technical analysis in the comments below. Bitcoin just broke down from the confluence of support zones, namely the trendline support @ 38.5K, the previous swing high also @ 38.5K and the 200MAs on the 1H timeframe @ 38K. Upon the breakdown, we also saw a spike in volume, suggesting that there is conviction in the breakdown. The question now is if this is a false breakdown or if price will continue to crash lower. A couple of scenarios below: 1. For me to consider this a false breakdown, I would need to see price close above the high of the breakdown candle, which is @ 38.6K. And if that happens with a large body candle alongside strong volume, I would actually consider entering a long position, as it would be the first successful bounce off of the 200MAs after price broke above them. 2. If the low of the candle following the breakdown candle, which is @ 37.5K, is broken, and especially if a 1H candle closed below that, then this is likely a genuine breakdown, and depending on how far down price has gone when this happens, I might consider entering into a short position. If price has moved down quite a lot, then I will likely pass up on the trade, whereas if price hasn't, then there will be more room for price to move down, and I'd be more interested in taking the short. The reason why I'm not jumping into a short right now is because while price did break down from the support zone, it barely closed below the 200MAs, so theres still a chance for a bounce here. Had price closed further down beyond the 200MAs, I would have entered a short on the breakdown candle close. Of course, ultimately you decide how you want to trade this and whether to enter a trade now or wait for confirmation or pass up on this setup altogether. FYI: I use long or short simply to indicate whether the market is bullish or bearish, not as a signal to go long or short at the time of publishing the idea. Check out my technical analysis videos for more in-depth analysis and trade setups for Bitcoin, Ethereum, and Altcoins. Why follow? 1. Community of Technical Analysts sharing analysis and trades 2. Live tracking of whale wallet movements 3. Live update of the latest important news 4. Live syncing of popular crypto tweets 5. Ebook covering how to be profitable in the cryptocurrency market As always, I’m not a financial advisor, all information presented is for educational purposes only and not meant as financial or investment advice, do your own research, and stay safe!
Short
by cryptotraderog
Bitcoin Breaks Down From Symmetrical Triangle Amid G7 FUD!Hi guys, this is OG back with another update. Bitcoin has once again broken down from the symmetrical triangle, and on pretty strong volume as well. The hourly close below the support trendline of the symmetrical triangle would have been a good place for a scalp short, but I was away from the screen so missed the entry. After the first breakdown from the triangle, price climbed back within the triangle, suggesting that price is likely to break upwards. Unfortunately, just as price was about to do so, we got some G7 FUD. President Biden has called for a meeting of the G7 nations, and there is speculation that the group of 7 nations might try to come up with collective regulation against Bitcoin. Playing into this narrative, some officials have spoken out against Bitcoin and the media is amplifying that narrative. I missed the best entry for a short, so while price can continue to go lower, the risk reward here to enter a short isn't ideal, and with so many fakeouts recently, it is dangerous to enter into a trade when price has already moved since the initial entry point in the hopes of it continuing further, because price can very likely reverse just as quickly. The two setups Im looking for now are similar to the ones I was looking for when price broke down from the symmetrical triangle the first time. 1. For me to take a short, I want to see price retest the bottom of the symmetrical triangle at around 36.5K and get rejected, thus confirming the break of the triangle to the downside 2. For me to take a long, price needs to break above the symmetrical triangle resistance at 37.5K. Of course, this means price needs to first climb back within the symmetrical triangle As always, I’m not a financial advisor, do your own research, and stay safe!
by cryptotraderog
$BTC MORE DOWNSIDE COMING? | Hell Week UpdateBTC made a descent as we anticipated, the question is do we have more room to go? Is this the end of this cycle's bullrun or do we have a 2 top cycle in store for us? | Currently, we are seeing a nice relief rally off $31k; I'd say it's safe to say $29k is in the books if we can't break & hold above $35k. These next few weeks, patience will be key. We most likely continue to see some pretty big wicks both ways in an attempt to trap. Watching $32,600 & $33,300 as resistance this next week, if we break over we must watch for the test at R2 . Over the next month, we could see a retracement toward $35k and possibly $37k but this move could be to hit a retest of before the continuation toward the downside. (any chance of bullish we MUST) Breakout and retest as support of R3 would confirm a bullish move is inbound targeting $40k range. On the larger scale (1D), we sit in a potential head & shoulders pattern which will result in the end of this beautiful 2021 bullrun bringing us down toward 2017 highs to hopefully hold support. We'd all like to see it run to $41k/$42k to confirm this head & shoulders but there's a chance selling will just continue. Way too much selling to be stopped until bigger players come to play and I personally doubt they want to unload at $30k. $24k and $18k are targets for those players. Time will tell, longterm holders will win regardless this is just another opportunity to reposition. Share your thoughts below DCJ | Charts Plus EasyLoot.com
by DotcomJack
Bitcoin Trade Setup - Swing Trading Shorting OpportunityBitcoin Trade Setup - Swing Trading Shorting Opportunity Bitcoin looks weak but that doesn't mean you short it right now. It is forming a triangle pattern and so let it breaks the downside. You can short Bitcoin once it breaks the red supporting zone. If you're a conservative trader, then wait for a break from the red zone and retest the red zone again. If you get any rejection at this key area of value, then you're good to go for short. Follow me, to get the future prediction.
BITMEX:XBTShort
by AkmeAnalytics
Bitcoin Symmetrical Triangle Breakdown Trade SetupsBitcoin has been stuck in a symmetrical triangle after the initial head and shoulder breakdown from the ATH of 64K. While we might have preferred for Bitcoin to break to the upside, we noted that the false breakout to the upside that we did have substantially increased the likelihood of a break to the downside, which is what has occurred. Price broke out of the triangle to the downside with strong volume and have continued to the downside following the initial break. If you missed the initial short at the point of the breakdown, here are three potential trade setups to watch out for: 1. Short on retest and rejection at the point of breakout, which is likely to be around the 35.5-36K region. 2. Long on a reclaiming of the symmetrical triangle if price rallies back within the triangle and establishes the bottom of the triangle as support. 3. Long on a false breakdown at 30K if price breaks below 30K and then quickly recovers above 30K with strong volume I personally wouldnt be opening up a short right now, as even if we are in the beginning of a major leg down, there is a high likelihood that we at least retest the point of breakdown before doing so, Of course, it. is up to you if you want to open a short here and perhaps add to the short if prices retest the point of breakdown or if price definitively break down below 30K. How you choose to play and trade this current structure is up to you, I can only provide the potential scenarios based on technical analysis. As always, I’m not a financial advisor, do your own research, and stay safe!
by cryptotraderog
SHORT BTC / USDTChina may concentrate most of the world's cryptocurrency mining, but it is increasingly hostile to these digital assets. "It's doomsday for crypto commentators," warns a commentator who calls herself "Woman Dr. bitcoin mini" on Weibo (a Chinese microblogging site). In recent days, several accounts of influential Chinese figures in the crypto sphere have been blocked. The offensive appears to have started on June 6, notes The Guardian. During the weekend, several profiles such as that of Woman Dr bitcoin became inaccessible. People who attempt to access them now only see a message saying that this account is "against the law." These measures may seem surprising. China is indeed the most active country when it comes to crypto: this is where 75% of bitcoin mining activity takes place. These restrictions are, however, only the most recent step in a much larger Chinese-led offensive against cryptocurrencies.
Short
by HolderYoda
Bitcoin's Triangle Pattern Can Send The Price LowerHi Traders, The structure of Bitcoin's decline from the ~$64950 high has been taking the shape of the classic Elliott Wave five-wave impulse pattern. Wave (iii) is very extended and its five sub-waves are really visible. The corrections are also following the guideline of alternation, wave (ii) is a sharp zigzag correction, and wave (iv) unfolded as a sideways triangle pattern. According to the theory, once a correction is completed the price will resume in the direction of the impulse. Just like wave (ii) alternate wave (i) before wave (iii) sell-off, price is expected to resume wave (v) decline as the wave (iv) correction is completed. The decline in wave (v) can be as large as that of wave (i), if this count is correct, a decline below wave (iii) low of ~$30028 is very plausible in the weeks ahead. The confirmation level and invalidation level for this setup are highlighted on the chart. Do you think Bitcoin will suffer another notable decline? Let me know in the comment. Thanks for reading!
Short
by Veejahbee
2