$10,500 OR BIG SLASH? MUST READ! The current zone is very important,
if the price fixed the 9550 area and bounce to the 9600 area then
we can expect to see a retracement in the 10400 area but if the price does otherwise then we should expect
the big dump.
In my opinion the got a rejected from
the bottom which can give us the big spike and let's not forget things get nasty every weekend.
However the way am currently playing these move is right on my private group, am a max leverage trader and I have develop a system to kick off Liquadations if we get 100 likes on these am going sharey system right here!
Crytpotrading
Bitcoin and the Impending SqueezeI believe that Bitcoin is currently in the process of forming a triangle squeeze in a range just under the big weekly sym triangle, with an eye to breaking out of it in early June.
My actual prediction for what is likely to happen is that we get rejected again around the 9800 region (if we make it that far, we then fall back down and continue to make higher lows on the daily squeezing into mid June before finally breaking UP out of the smaller triangle we form. The squeeze will be aided by the rising 50 and 200EMA which hopefully will support and squeeze us into this narrow range.
Here you go...
This is voided should we close a daily below the base support of the prior rising wedge formation we broke out of.
We can get to $10,500. (PERFECT Support & Resistance Levels)DESCRIPTION
Few questions that came up to me now for Bitcoin (BTC/USD):
- How far up can it go?
- Where can we find the important support and resistance levels?
So looking at my trend analysis, the chart was stretched out to accommodate the previous high price level which was encountered on Resistance 3 (February Period) which will be our focal point for a resistance level at $10488.95. We tend to take this as our Take Profit Level since the Entry price levels has entered the Price Range between R2 & R1 (Stability Zone). For me this is how far we can go for now and these are my important support and resistance levels.
Resistance 2 (R2) - $9,145.80
Resistance 1 (R1) - $8,167.22 (SL)
The Resistance 1 has been taken as a Stop Loss level, any breakout from here below might trigger a Downtrend. But my predictions are still strong on a Bullish Uptrend.
Our next Stability Zone is between R3 & R2, that's when the price happens to go higher and break the Resistance 2 level, which has happened before earlier today, then we see the price going as far as $10,488.95 and upwards.
Also happen to stretch the Bullish Trend Channel to see future price levels, which I strongly believe that Bitcoin will achieve the $13,000 Mark.
Do follow me on Twitter @Obiakor_Evans and please help me Like my ideas and follow for more great trend analysis.
Best Regards,
Evans
How Long will ETH Trade Sideways?HI Traders! On today's post I will take a look at Ethereum. Over the past few weeks trading has come to a slow. The volatility is drying up and that only means one thing. The next major macro move is being set up.
Over the weekend Ethereum tested a block of resistance between 189 - 194. This block is relevant as it is the consolidation preceding the 56% drop that took place in March.
Support currently sits at 148 - 152. However, on a previous post I described that manner in which Ethereum was consolidating on support was resembling a potential set up for a reversal top formation. See below:
Pure speculation, but a Head and Shoulders formation is not our of the cards here. I also added a key a took I use when measuring the length in which a pattern may take place. I like to measure both shoulders on a head and shoulders. They should come close in time, though depending n various circumstances the right shoulder can be either longer or shorter.
THE FINAL WORD: Bollinger Bands
Given the lack of volatility and the recent swing high Ethereum has set, it is primed to retest support at $150. I would be cautious buying spot Ethereum or entering any long positions at these levels. I'd be interested in buying on support near 148 - 152 and reassess. Bollinger bands will become important in the coming week or two ahead as it is an indicator of when volatility will begin.
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BTC DAILYThe Daily chart to accompany the previous post of BTCUSD 1H time-frame.
'BTC broke down after failing to reclaim that 7400 area when we look at the hourly chart. It was a nice rising wedge break. 6750 area is holding as the current support range. On the Daily timeframe, the 50-day sma&ema is above resistance 7200's. Up over 7k with a wider run to 7600/7800 will be a battleground for bulls & bears. A daily close around $7300 (or hourly)in that $7200-ish range of reclaiming those moving averages would help bulls to go test the next upward resistance area of the smaller upward channel. BTC is curling with some volume pushing it above 7k, but more momentum will be needed. Short a break of 6800/6850 down to 6450-6500 as another potential support. Long with a break over 7300 for a few hundred points up. 8k range around the 200-day ema/sma and fib retrace might be an area to consolidate if bulls can break out of the downtrend before/or after testing 9500/9600(ish) range.
Bitcoin and the Potential Breakout ApproachesThe Bitcoin Symmetrical Triangle gathers pace and we are heading closer and closer to decision time. We now have enough touches of resistance and support to be happy that the pattern is what it is.
Coupled with decreasing volume and voila, the triangle is born.
April 2nd would be a textbook day to get this breakout up or down, so keep an eye for it happening between the 2nd and 4th April.
Targets are 8200 to the upside and 4800 to the downside.
Keep it simple, wait for a 4hour candle to breakout of the resistance and then a new candle breaking the high of the breakout candle.
Ripple has found its best Support ts clear Ripple has found its major support on W1 time frame and this support gonna be the floor of a huge rally, I had an eye on this support which I have marked out on my tech sheet from a while. So with the rejection/ price action happened on the support is very promising me for an trend reversal inside the structure. So I'll be willing to long from this price level to those two targets which is highlighted in light blue dashes. Consider this trade setup at your own risk. Good Luck!
BTCUSD Roller Coaster Long DayTradeDid you catch the BTCUSD long today with our Roller Coaster Indicator Suite for TradingView?
MACD Stochastic Cross Is Not Enough
There are a great deal of interpretations of the “MACD Stochastic Cross” trading strategy and the principle is sound if you have the correct time frame to trade. One thing lacking in many of these strategies is a simple and repeatable entry and trade management strategy.
As the name implies, we want to ride the roller coaster from overbought to oversold zones of the stochastic as with the normal MACD Stochastic Cross strategy. However, we want a simple and repeatable entry strategy. Also, we don’t want to exit a trade as soon as we get in the opposing stochastic zone, as it may move to a false breakout state and start trending. With this in mind we hacked our already proven entry and trade management strategy from our B.I.T.S (Breakout Intelligent Trading Signals) Strategy. Where we use a combination of 3 EMA’s specially designed for all instruments and time-frames that we call our Points of Control (POC). We have a Core, Leading and Lagging point of control.
Read Full article on our Roller Coastr Indicator here tradethefifth.com
Possible Short Entry in XRP / USD 12/21/191) Possible short-term downtrend, if close 4H candle below MA (9)
2) Possible continuation of the price in range, between Maximum 0.20199 and Minimum 0.17600 in the short term
3) Continuation of the price within the channel.
4) Stochastic in positive zone and with bearish direction.
Entry = 0.19149
SL = 0.20184
TP1= 0.17869
BTC/USD Analysis Medium TermWe're ranging in a falling wedge at the moment. The high value areas are the double bottom of the falling wedge and the outer structure (3rd touch) for the completion of that pattern. Since we're moving very correctively on the daily and are getting that arcing nature, it's highly probable that we can reverse from the double bottom (AKA previous daily low on the chart) and the market doesn't need to nor has to reach the outer structure.
Hope Everyone gained some insight and value from this analysis and let me know if you want to see more of these for other crypto/currency pairs. Always do you're own analysis before hand and let's enjoy the rest of the trading week!
Adam & Eve Bottom - Do we continue lower?For the first time we are starting to see some signs of sellers getting exhausted and bulls starting to add pressure. Some are calling for a possible "Adam & Eve Bottom" - but where is all the volume? The new money? adoption!
With the small size and relative lack of liquidity in the BTC market - it can be easily manipulated by insider trading desks at exchanges, "whales", or supposed institutional players like Bakkt, CME, etc..
But what is the reality?
Bitcoin can go to zero.
Right now a vast majority of the coins, 11 of the 18 million in supply are being HODL'd hard and have not moved since 2014..
Bitcoin Double Bottom? China's Cryptocurrency to be ReleasedBitcoin appears to be making a double bottom here which is close to a support/flip zone of the 7600 zone. A double bottom shows us that a trend may be over (in this case a downtrend) as we fail to make new lower lows which confirm the lower high. It tells us the trend may be exhausting.
I would await the break and close over the 8300 zone before considering going long.
The 9200 zone would be our first target.
China is now coming close to releasing their state controlled cryptocurrency. The People's Bank of China is aiming for a November 11th release as it coincides with China's largest shopping holiday, Singles Day.
If you follow my work, I have outlined how a digital currency is coming. This way all money can be taxed and tracked on the Blockchain.
Craigslist/ebay/amazon sales will be taxed, restaurant tips will be taxed, private jobs/tutuoring you do will be taxed. Small business income will also join the employee tax bracket. With a digital currency, small business tax loopholes which western governments have been closing, can be enforced much easier.
Also, a digital currency will force us to keep money in the banks when they go to negative interest rates, paying the banks a monthly interest for doing so.
If we go down the MMT or Universal Income path, we need more taxes. The Socialist economists know that giving people more money with production not increasing will lead to inflation. You have people with more money competing for the same number of goods. Solution? The government uses taxes to remove (or kill) money supply from the system. Essentially acting like the Central Bank.
Government is getting bigger, which means more taxes to pay for it. Throughout history, authoritariansim always comes in the form of liberalism. It is always the young who bring this upon us as they are largely ignorant on money and the real world. Most socialist/liberal parties target post secondary schools because students have a lot of student loans, do not have a high paying job so do not pay much taxes, have no family and own no home. It is very easy to convince these people that they are where they are in life currently due to their gender, skin colour, religion etc.
I just bring this up because you can see the big government movement coming. Digital currency is a key core aspect of this. When the next financial crisis occurs, I am sure there will be a credit freeze. Everything will be frozen, and people will not be able to access their money.
Government (and banks) solution will be a going digital and eliminating cash. Government will say this has to happen because if they bail out banks, people will storm them to remove their money. Essentially going digital to prevent bank runs.
DOCKUSD has formed bullish shark | Upto 340% expectedPriceline of Dock / US Dollar cryptocurrency has formed bullish shark and also hit the sell target zone but RSI is still in oversold and all indicators are turning bullish including macd uprot weak chart so I am expecting after some price correction it will continue this bull move.
I have defined targets using Fibonacci sequence:
Buy between: 0.00775920 to 0.00421716
Sell between: 0.01120258 to 0.01859030
Regards,
Atif Akbar (moon333)
My Bitcoin BTC Bullish Thoughts and PredictionsBitcoin Bullish breakout predictions, feel free to leave your thoughts. I believe the MOMO and RSI are all pointing to a spike here soon, but be prepared for a breakdown out of the pennant. It could go either way, but impulse suggesting a bullish breakout...