#BTC is attempting recovery on the back of bull price-RSI divergence
But, upside is being capped by immediate resistance at $7,925 (May 18 low). A break higher would expose descending trendline, currently seen at $8,034.
But, upside is being capped by immediate resistance at $7,925 (May 18 low). A break higher would expose descending trendline, currently seen at $8,034.
#BTC
Sustained break above $7,925 remains elusive.
So, bull divergence isn't yielding a notable corrective rally, which is usually the case when bearish sentiment is strong.
Last hourly candle failed to penetrate $7,925 and current candle is reporting losses...
Sustained break above $7,925 remains elusive.
So, bull divergence isn't yielding a notable corrective rally, which is usually the case when bearish sentiment is strong.
Last hourly candle failed to penetrate $7,925 and current candle is reporting losses...
#BTC
OUTLOOK: Bearish
Close yesterday below 61.8% Fib in a convincing manner, also closed below channel support, signaling bearish breakdown.
5,10MA is biased bearish.
Could drop below $7495 (session low) and extend losses towards $7,188 (76.4% Fib).
OUTLOOK: Bearish
Close yesterday below 61.8% Fib in a convincing manner, also closed below channel support, signaling bearish breakdown.
5,10MA is biased bearish.
Could drop below $7495 (session low) and extend losses towards $7,188 (76.4% Fib).
hourly chart shows #BTC has created a bear flag. A downside break would allow a drop to $7K (target as per the measured height method).
CryptoBullet
hourly chart shows #BTC has created a bear flag. A downside break would allow a drop to $7K (target as per the measured height method).
#BTC bear flag breakdown confirmed, looks like we are heading towards $7K
The 50-hour, 100-hour and 200-hour moving averages (MAs) are biased to the bears. Meanwhile, the relative strength index (RSI) has dropped close to the oversold region (30.00), but is holding well above the lows seen yesterday, indicating there is enough room for a drop to $7,000.
Weekly chart shows #BTC is trading below 50-week MA - the average acted as strong support in late March/early April (marked by circle).
We could be in for a serious sell-off if the current weekly candle closes below 50-week MA.
We could be in for a serious sell-off if the current weekly candle closes below 50-week MA.
📰 US Government Opens Criminal Probe into Bitcoin Price Manipulation
The United States Department of Justice (DOJ) has reportedly opened a criminal investigation into possible market manipulation of prices of cryptocurrencies including bitcoin by traders.
DOJ is working alongside the Commodities and Futures Trading Commission (CFTC), the markets regulator, to focus on illegal trading activities in cryptocurrency markets.
The United States Department of Justice (DOJ) has reportedly opened a criminal investigation into possible market manipulation of prices of cryptocurrencies including bitcoin by traders.
DOJ is working alongside the Commodities and Futures Trading Commission (CFTC), the markets regulator, to focus on illegal trading activities in cryptocurrency markets.
Forwarded from #OnPointCrypto VIP
This harsh rejection of the 8200 zone and weekly volume increase looks like we may be seeing the beginning of the continued downward trend to as low as $3000 to complete emotional cycle. 61.8 fib didnt hold so thats usually a major sign for BTC to be not bullish.
3k has been on the table as a possibility and now as we leave the cloud again and reject 8200 it looks like that possibility may happen over the next few months
How the market reacts to this selloff is crucial
4-6 hr momentum wants to shift and we will likely see a run to $8000 -8200 zone but I think we will see rejection again and I am leaning bearish looking for tops to sell until we see something convincing that bulls are in control
Even if we rally above 8200 and into the cloud again on the daily we will still be in a consolidation triangle until a sustained support above 10k with a higher high
Weekly and 2 week momentum also turning down showing weakness
3k has been on the table as a possibility and now as we leave the cloud again and reject 8200 it looks like that possibility may happen over the next few months
How the market reacts to this selloff is crucial
4-6 hr momentum wants to shift and we will likely see a run to $8000 -8200 zone but I think we will see rejection again and I am leaning bearish looking for tops to sell until we see something convincing that bulls are in control
Even if we rally above 8200 and into the cloud again on the daily we will still be in a consolidation triangle until a sustained support above 10k with a higher high
Weekly and 2 week momentum also turning down showing weakness
Forwarded from #OnPointCrypto VIP
We bought AGI 12-13c area and got a great push for 76%.
However, we rebought the pullback with avg 2300 and discussed in Lounge to add more all the way down to 1580 which gave an avg of 1823.
Today we saw 3420 for another 87%
However, we rebought the pullback with avg 2300 and discussed in Lounge to add more all the way down to 1580 which gave an avg of 1823.
Today we saw 3420 for another 87%
CryptoBullet
Buy FOTA (KuCoin) around 500. falling wedge; Targets: 600-700-900
FOTA hit our 2nd target at 700
Profit: +40%
Congratulations, guys!
Profit: +40%
Congratulations, guys!
#BTC
OUTLOOK: Bearish close likely
the current weekly candle will likely close (today) below 50-week MA of $7,609 for the first time since Oct 2015
It would only validate argument the long-run bull market has ended
RSI has rolled over in favor of the bears
OUTLOOK: Bearish close likely
the current weekly candle will likely close (today) below 50-week MA of $7,609 for the first time since Oct 2015
It would only validate argument the long-run bull market has ended
RSI has rolled over in favor of the bears
#BTC
Outlook: BEARISH
Risks falling below $7K as-
50-week MA supp has been breached for first time since Oct. 2015
5,10DMA biased bearish
Pennant breakdown on 4hr (bearish continuation pattern)
Daily RSI still holding above 30.00 (oversold region).
#BTCUSD Bullish Scenario:
#BTC created small doji yesterday, signaling bearish exhaustion. But only a convincing move above $7,450 today would signal bull doji reversal - a corrective rally.
although odds are stacked in favor of the bears as discussed above.
Outlook: BEARISH
Risks falling below $7K as-
50-week MA supp has been breached for first time since Oct. 2015
5,10DMA biased bearish
Pennant breakdown on 4hr (bearish continuation pattern)
Daily RSI still holding above 30.00 (oversold region).
#BTCUSD Bullish Scenario:
#BTC created small doji yesterday, signaling bearish exhaustion. But only a convincing move above $7,450 today would signal bull doji reversal - a corrective rally.
although odds are stacked in favor of the bears as discussed above.