Get started

Marketcap

BITCOIN - Big Bearish Signs (Mid-, Short-term)!My last movements predictions have been quite perfect. The bounce areas and the breakout areas were nicely exploited and we had some nice movements. At the moment there are some big bearish signs from the higher timeframe, reversal area is not so perfectly identified but don't worry, we should catch some breakout trades. Let's start a bit deeper analysis: The last Weekly candle close gave us a really strong bearish sign, one of the most powerful bearish candlestick pattern Evening Star (on the Weekly chart, which is a higher timeframe and candlestick patterns working much better in the higher timeframes) Evening Star will be an indication that higher success rate would be on SELL trades. To bring here some statistics then, do you remember that title "BITCOIN - 66% Probability For Further Growth!". This was said because of the Weekly candles which got a close above the 8k, we had a small sample size (three), two times after the close above the $8,000 it was made a climb into the higher levels and one was a fakeout and to remind you that history then the probability % guided the BTC price into the higher levels((8k to 9k). Currently, we have another 66% probability but for the further price decrease! Again, we have three samples: 1. Weekly candle close below $8,000 on March 2018 ($6,816) - this was the mentioned fakeout, two weeks and the price was again above the $8,000. 2. Weekly candle close below $8,000 on May 2018 ($7,346- Small stop on the next week price action and after that, the fall continues to the well-known level $6,000 3. Weekly candle close below $8,000 on July 2018 ($7,030) - again, the fall continues to the well-known support area $6,000. So, three samples, two have guided the price into the lower levels and we have one fakeout. After some heavy math, we have a 66% probability (again) but as said, now we have a 66% probability for further fall but there are more signs to confirm that. Probably you noticed it already but those two falls have occurred after the Weekly candle close $7,xxx, fakeout was lowest at $6,816. The last Weekly candle close was also $7,xxx ($7,634) AND it formed a bearish candlestick pattern Evening Star (which should be the most powerful bearish candlestick pattern). So, the math supporting further fall and the price action supporting that further fall. Let's dig into the smaller timeframes for searching confirmations. As you see on the image the price is still on the Descending Channel. I add a picture for phone users, it should be better to watch: The Bitcoin price has confirmed Lower Low (LL) and a new Lower High (LH) which is downtrend indications. If the price starts to make a breakout upwards from the Descending Channel (the area between orange trendlines) then as said, there is pretty hard to identify the reversal area, reversal criteria don't match perfectly. Example: if there is a good resistance area with some great criteria inside of it then there is also a breakout from the bullish chart pattern and etc. It is not easy and if the reversal area is not easy to identify then usually they don't work as strong as they should be especially when we have really strong bearish sings from the higher timeframes, BUT I would like to give you a price level which is my observation, the area stays around $8,200-$8,450. If this is not a reversal area then it should be partial profit taking area for longs holders. The trend is your friend and currently, we have indications through the LL & LH that the current short-term trend is downwards and the higher timeframe analysis confirms that. So, at the moment the only clear trading idea would be a breakout trade into the short-term downwards trend direction. There is a red line and if the 4H candle gets a close below of it then we might see a $350 to $800 price fall. After the 4H candle close below the red line the price has cracked some important support levels: 1. EMA200 - it has held us three times around the current area 2. The semi-round number $7,500 - same story as EMA200 3. New Lower Low confirmation area Some other indications: 4. From the Weekly chart a bearish candlestick pattern called Evening Star, really strong bearish candlestick pattern 5. Math is supporting current fall, 66% probability for further fall 6. We are on the Descending Channel. 7. The trend is your friend Wait for a 4H candle close below the red line, below $7,400 and the target should stay $6,700-$7,050. If the price starts to approach that higher gray box which can be the mentioned reversal area then I will make constant updates because we need some bearish price action inside the box. This is a risky area because of the mixed signs! Feel free to support my effort by hitting the "LIKE", it is my only fee from You! Best regards, Vaido
COINBASE:BTCUSD
by VaidoVeek
24
[TOTAL] Cryptocurrency Market Now on Bullish Alert! (It Goes HigWarning, the entire (TOTAL) cryptocurrency market is now on bullish alert. Recently we shared a chart for the total cryptocurrency market cap. excluding Bitcoin (TOTAL2), mentioning its massive bullishness and a huge increase in trading volume and volume breakout, you can see all the details by clicking on the image below: The entire cryptocurrency market cap., listed here on Trading View as TOTAL, looks as strong, if not stronger, than the TOTAL2 index. We have all of our classic bullish signals developing and a very, very bullish chart. Let's take a quick look into a few of these: We can see a massively bullish RSI. The RSI hasn't been this high since January 2018, that's 1.5 years ago. The RSI also hit a low point on December 2018 which hasn't been seen since January 2015. Think about it... That's most likely the lowest we will see in a while. The cryptocurrency market is really bullish right now. TOTAL has broken above a strong area of resistance marked green on the chart. It took over 3 months to break below this level back in 2018, but only 2 weeks to break above it now in 2019... The bullishness this market is experiencing is massive. This green zone we can see on the chart can now be used as very strong support and is very likely to hold TOTAL if it starts to retrace, but with Bitcoin super hot and the alts as well, we can look for additional growth. The MACD entered the bullish zone (above the zero line) recently but is lacking some momentum, it shows plenty of room left available for growth. Potential scenarios are marked on the chart above. Conditions for change: Same as with TOTAL2, TOTAL remains bullish for us as long as it is trading above MA200 (black line). A close below EMA10 sends a bearish potential warning, but this index remains bullish as long as it is trading above MA200 and the last low. We are extremely bullish on the entire cryptocurrency market for late 2019, 2020 and beyond. We believe that we are looking at the bottom for most altcoins and cryptocurrency, and once the bottom is in, the only place left to go is up. What's your take on what will happen next? Share your thoughts in the comments section below. Remember to hit like if you want to now to show your support. Thanks a lot for reading. This is Alan Masters. Namaste.
CRYPTOCAP:TOTALLong
by AlanSantana
15
Bitcoin Dominance going to 75% After Meteoric Rise to 2019 HiOn April 23, the crypto markets took a turn that have some questioning the outlook on altcoins. While the altcoin market has been holding its own against Bitcoin, with currencies like Binance Coin posting 300 percent gains since the start of the year, the market appears to be swaying in favor of Bitcoin. Long time cryptocurrency investors will be familiar with the the tug-of-war price movement between Bitcoin and altcoins. At times, the entire cryptocurrency marketplace buoys on positive sentiment and increased investment. However, a shifting between the pool of capital in alts and Bitcoin is also a common occurrence. For one, investors avoid the headache generated by taxes and capital gains by trading between currencies. But for the most part, investors have recognized that Bitcoin tends to be a more price stable currency relative to the rest of the market, while also offering the ability to appreciate during periods of positive price movement–a feature that stablecoins are unable to offer. In times of bullish market sentiment, such as what is brewing for the industry at present, investors grow fearful of missing out on massive BTC leaps, such as the epic run which took Bitcoin to $20,000 in December 2017. Despite the development interest and growth into platform currencies such as Ethereum, EOS and TRON, the marketplace for cryptocurrency continues to flow through the original cryptocurrency. Bitcoin holds a wide margin in market capitalization over the second highest coin Ethereum, a gap that is greater than $80 billion. In addition, Bitcoin market dominance has continued to climb throughout 2019, up from 51 percent at the start of the year to over 53 percent. Today’s price action has taken BTC dominance to just under 54 percent, its highest point since September 2018. In fact, Bitcoin dominance has largely been on the rise over the last 12 months, with the coin reaching a relative low of 35 percent dominance in May 2018. While BTC experienced a slight retraction during the market fall of last December, the coin is making a recovery that could be trending towards the >80 percent dominance the coin historically experienced prior to early-2017. More than likely, Bitcoin will not be able to eclipse its 2017 dominance of 85 percent, given the changing landscape of cryptocurrency. While BTC is by far the most recognizable currency in the industry, with Bitcoin holding household-name status familiarity (the coin is largely synonymous with cryptocurrency in mainstream markets), altcoin projects like Ethereum and EOS have carved out a substantial amount of developer interest. With Bitcoin yet to overcome the hurdle of scalability, its price is likely to stall again at upper limits in the absence of a solution like Lightning Network. Cryptocurrency, assuming it can gain price traction again as in 2017, is still in need of proven usability. Investors and speculators may continue to drive up the price of Bitcoin and contribute to its market share dominance, but the entire landscape of currencies have to generate scalability in order to become an accepted technology.
CRYPTOCAP:BTC.DLong
by DavidRose02