CryptoBullet
BTC is heavily bearish We keep creating lower highs. The support has been tested for numerous times and that's not bullish. So, this formation looks like a nice Descending Triangle confirmed by declining volume. Conservative target is 9% down, which would…
There we go 📉
Like we said yesterday, breaking down was just a matter of time. We didn't even get a bounce to close the CME gap and the market just crashed.
Like we said yesterday, breaking down was just a matter of time. We didn't even get a bounce to close the CME gap and the market just crashed.
CryptoBullet
📌BTC Longs on Bitfinex keep piling up. This is something to pay attention to [ Bitfinex: 86% long / 14% short Bitmex: 48% long / 52% short ]
⚠️ BTC Longs on Bitfinex got out of control! There is an unprecedented amount of Longs. Something is cooking🔥
CryptoBullet
There we go 📉 Like we said yesterday, breaking down was just a matter of time. We didn't even get a bounce to close the CME gap and the market just crashed.
#BTC Update
Our analysis worked out perfectly!
🎯Target reached! Lower low established just like we expected!
Our analysis worked out perfectly!
🎯Target reached! Lower low established just like we expected!
Today's #BTC low is remarkable and has chances to be the ultimate low.
And here is why
📌First of all, today we've got an elegant wick just under the previous low, which liquidated a lot of longs. And look how strongly we rebounded after establishing a lower low.
📌Secondly, mid December is a pretty important time period. It may look like a conspiracy theory, but notice:
Dec. 17, 2017 - Bitcoin tops out at 19.7k
Dec. 15, 2018 - Bitcoin bottoms out at 3.1k
Dec. 18, 2019 - Bitcoin creates a lowest low after topping out at 13880 in June.
💡So, taking this information into account, today's low can be a pivot point for the market. However, here's what you should understand: once such a pattern is identified, it has less chance to keep playing out successfully. Just keep that in mind and treat this top/low sequence with a grain of salt.
And here is why
📌First of all, today we've got an elegant wick just under the previous low, which liquidated a lot of longs. And look how strongly we rebounded after establishing a lower low.
📌Secondly, mid December is a pretty important time period. It may look like a conspiracy theory, but notice:
Dec. 17, 2017 - Bitcoin tops out at 19.7k
Dec. 15, 2018 - Bitcoin bottoms out at 3.1k
Dec. 18, 2019 - Bitcoin creates a lowest low after topping out at 13880 in June.
💡So, taking this information into account, today's low can be a pivot point for the market. However, here's what you should understand: once such a pattern is identified, it has less chance to keep playing out successfully. Just keep that in mind and treat this top/low sequence with a grain of salt.
BTC update
Yesterday's pump took us all the way up to 7400 (significant area of resistance) and got rejected there by MA200. Notice how precise this move was. We exactly hit the MA and pulled back.
Furthermore, we didn’t manage to sustain the breakout above EMA100 and it rejected the price again, but we are holding the support that was regained in the result of the pump.
💡So, now the price is squeezed between the Support and EMA100. If we break EMA100 eventually, we'll have high chances to continue the move to the upside and reach the top of the downward channel (7800-8000).
Yesterday's pump took us all the way up to 7400 (significant area of resistance) and got rejected there by MA200. Notice how precise this move was. We exactly hit the MA and pulled back.
Furthermore, we didn’t manage to sustain the breakout above EMA100 and it rejected the price again, but we are holding the support that was regained in the result of the pump.
💡So, now the price is squeezed between the Support and EMA100. If we break EMA100 eventually, we'll have high chances to continue the move to the upside and reach the top of the downward channel (7800-8000).
BTC update
EMA100 has been a pretty tough resistance, but it was eventually broken
📌And here is what we said in previous analysis: "If we break EMA100 eventually, we'll have high chances to continue the move to the upside and reach the top of the downward channel (7800-8000)"
This is almost what we got: we broke above the EMA100, sustained it and reached 7650. So, the analysis has pretty much succeeded, but we still have some room to go up.
EMA100 has been a pretty tough resistance, but it was eventually broken
📌And here is what we said in previous analysis: "If we break EMA100 eventually, we'll have high chances to continue the move to the upside and reach the top of the downward channel (7800-8000)"
This is almost what we got: we broke above the EMA100, sustained it and reached 7650. So, the analysis has pretty much succeeded, but we still have some room to go up.
BTC weekly chart
The weekly candle closed like a bullish hammer and the price even managed to close above MA50. EMA100 held the price and that long wick below it is pretty bullish. It looks like a reversal, but here is the thing:
Look at that poor volume of that weekly hammer candle. It’s not even close to what we had on the week of Nov. 25 when we established the ultimate low at that time.
💡This fact suggests that this can be nothing more than a relief rally within a downward channel.
📌What can prevent it from being a failed rally attempt is breaking above the top of the downward channel and obviously creating a higher high.
The weekly candle closed like a bullish hammer and the price even managed to close above MA50. EMA100 held the price and that long wick below it is pretty bullish. It looks like a reversal, but here is the thing:
Look at that poor volume of that weekly hammer candle. It’s not even close to what we had on the week of Nov. 25 when we established the ultimate low at that time.
💡This fact suggests that this can be nothing more than a relief rally within a downward channel.
📌What can prevent it from being a failed rally attempt is breaking above the top of the downward channel and obviously creating a higher high.
🎄With Christmas around the corner, it is time to engage in celebrations. May Santa Claus bring happiness, success and glory to you. May you and your family be blessed with a wonderful time and a great year ahead.
Merry Christmas! 🎅
Merry Christmas! 🎅
CryptoBullet
LTC/BTC: on the daily chart there is a descendent triangle - bearish formation at the low. Is there something bullish about LTC?
🎯 LTC/BTC first target reached!
On Dec. 6th we mentioned that LTC was in trouble as the hashrate had been dropping significantly and the price formed a nasty descending triangle at the low, which indicated a continuation to the downside. And we got it! LTC broke down the descending triangle and met our first target!
On Dec. 6th we mentioned that LTC was in trouble as the hashrate had been dropping significantly and the price formed a nasty descending triangle at the low, which indicated a continuation to the downside. And we got it! LTC broke down the descending triangle and met our first target!
💭 2019 has been a complete outlier in terms of market structure for Bitcoin. Why?
💡One of the primary factors was the Plus Token scam happening in China, which was a major Ponzi scheme. First two quarters of the year it subtracted a lot of the circulating supply of Bitcoin in the market and also created an artificial FOMO coming from Asian buyers that wanted to get into the scam. And then right after the stars of 3rd quarter they started to dump on the market, which created an immense selling pressure on the market.
[ Interestingly, users started reporting delays in fund withdraws on June 30th and the date on which the Plus Token started dumping their coins was within about a week at the top of 13k ]
📌So, apart from natural selling coming from miners, we had about 1.3k BTC per day on average as an additional selling pressure in the market, which broke the structure of the market.
💡One of the primary factors was the Plus Token scam happening in China, which was a major Ponzi scheme. First two quarters of the year it subtracted a lot of the circulating supply of Bitcoin in the market and also created an artificial FOMO coming from Asian buyers that wanted to get into the scam. And then right after the stars of 3rd quarter they started to dump on the market, which created an immense selling pressure on the market.
[ Interestingly, users started reporting delays in fund withdraws on June 30th and the date on which the Plus Token started dumping their coins was within about a week at the top of 13k ]
📌So, apart from natural selling coming from miners, we had about 1.3k BTC per day on average as an additional selling pressure in the market, which broke the structure of the market.
What do you think about XRP ?
Final Results
58%
It's a shitcoin (outright scam)
42%
It's a blue chip (great investment)
CME Futures are expiring in 2 hours
📌Here is an important point: these are half-yearly Futures and they were opened on July 1, near the top and right at the beginning of the downtrend.
📌Here is an important point: these are half-yearly Futures and they were opened on July 1, near the top and right at the beginning of the downtrend.
XRP
https://www.tradingview.com/chart/XRPBTC/GflKDrvy-XRP/
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https://www.tradingview.com/chart/XRPBTC/GflKDrvy-XRP/
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.
As we wrap up 2019, let's make some kind of BTC price prediction for the upcoming year
When do you think BTC will break its all-time high (20k)?
Final Results
38%
2020
36%
2021
13%
2022
14%
2023
What do you think the price of Bitcoin will be by the end of 2020?
Final Results
15%
3k-6k
22%
7k-10k
26%
11k-15k
37%
15k+
2019 is coming to an end. What a year it has certainly been!
Guys, we would like to express our sincere gratitude to you for your being part of CryptoBullet channel.
We are happy to unite best people in crypto and we will continue to do our best to navigate you. The next year in this space is going to be absolutely fascinating!
🎄Wishing you all the best in 2020!
Guys, we would like to express our sincere gratitude to you for your being part of CryptoBullet channel.
We are happy to unite best people in crypto and we will continue to do our best to navigate you. The next year in this space is going to be absolutely fascinating!
🎄Wishing you all the best in 2020!
What a start of the year for Bitcoin!
Look at the hash rate. On the first day of 2020 BTC hash rate hit a new all-time high! That is impressive
Dec. 17, 2017: BTC price - $19.6k
Hash Rate - 14,630,524 TH/s
Jan. 1, 2020: BTC price - $7.2k
Hash Rate - 119,353,780 TH/s
💡The hash rate is incredible, because from the all-time high of 20k to today the hash rate is up more than by 700%. Could you think of anything more fundamentally bullish for BTC than the hash rate being 700% more than it was at BTC all-time high?
Look at the hash rate. On the first day of 2020 BTC hash rate hit a new all-time high! That is impressive
Dec. 17, 2017: BTC price - $19.6k
Hash Rate - 14,630,524 TH/s
Jan. 1, 2020: BTC price - $7.2k
Hash Rate - 119,353,780 TH/s
💡The hash rate is incredible, because from the all-time high of 20k to today the hash rate is up more than by 700%. Could you think of anything more fundamentally bullish for BTC than the hash rate being 700% more than it was at BTC all-time high?
BTC: Monthly Outlook
https://www.tradingview.com/chart/BTCUSD/V8O9a8D8-BTC-Monthly-Outlook/
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.
https://www.tradingview.com/chart/BTCUSD/V8O9a8D8-BTC-Monthly-Outlook/
❗️Don't forget to subscribe to our Trading View profile & press the like button. We would appreciate it.