🎓#SpotTrade 🎓
🎓 $BTG / BTC - View Chart

🔸Analysis: Bitcoin gold shows vigorous signs of life. The coin pumped well over the staggering +300% levels exactly 15days ago. The price has been in a cooldown period ever since.

The bulls have managed to steady out and find support, securing about +60% from the levels before the pump. All we have to do here is trade the breakout from this very neat falling wedge structure. We should see some smashing profits as traders seek out resistance and capture pockets of volume.

🎓#SpotTrade 🎓
🎓 $BTG / BTC - View Chart

🔸Current Price: 0.001175
❇️Entry: 0.001185 (Breakout)
🎯Take Profit: 0.001410, 0.001770, Open
♦️Stop Limit: 0.001095 (-7.5%)

🎓#TradeUpdate 🎓
🎓 $MTL / BTC - View Chart

🔸Signal Info: Metal
Rank: #178
Exchange: Binance (Trade)
Direction: LONG

🔸Status: Absolutely stunning re-entry on MTL. The coin has printed 5 consecutive green candles on the 4h time frame, and there doesn't seem to be much in the way of resistance up ahead.

❇️ Position is up +13%

🔸Current Price: 2860sats
❇️Entry: 2520sats
🎯Take Profit: 3555sats, 4650sats, 5565sats
⤴️Stop Limit: 2645sats (+5%)

🎓 Trade Update 🎓
🎓 $ONT / BTC - View Chart

🔸Signal Info: Ontology
Rank: #27
Exchange: Binance
Direction: LONG
🚩 Margin: x5

🔸Status: This trade has been moving along slowly, but it has again gotten itself over the main significant resistance. The moving average has given chase and ONT is printing higher highs on the lower timeframe.

Divergence is seen on the DMI with a purple ADX line rounding and turning thanks to a spike in positive volume 3 days ago. Its plain sailing from here on out. Reduce your risk and set the stop at breakeven.

❇️Position is up 37% (+7.4% x5 🚩)

🔸Current Price: 8100sats
❇️Entry: 7550sats
🎯Targets: 9780sats, 11500sats, 15300sats
⤴️Exit: Breakeven 7550sats

🎓#SpotTrade 🎓
🎓 $SNM / BTC - View Chart

🔸Signal Info: SONM
Rank: #473
Exchange: Binance (Trade)
Direction: LONG

🔸Analysis: Sonm is a micro cap that has remained rather bullish since August last year. The DMI lines have remain apart from one another for all that time.

Since then, targets exceeding 100% have been triggered twice. Wedge formations are profitable as always. We could be seeing the start of a fresh break here. The TSI indicator seems to be the most obvious signal that speaks to that idea, apart from the chart itself.

There have also been 3 consecutive daily green candles since price pegged the bottom buy zone once more.

🔸Current Price: 134sats
❇️Entry: 134sats (Market), 130sats
🎯Take Profit: 160sats, 190sats, 238sats
♦️Stop Limit: 125sats (-4%)

📊Re-entry level: 115sats

🎓 Market Update 🎓

🔸Hello traders!
Just a quick note on the state of the markets right now. Bitcoin has been so kind to hover around the substantial $9300 level for a few days now. Finding a support and propping up the entire altcoin market vs USD. These conditions are ripe for profits and altcoin trades.

The set of currencies that moved in tune with BTC over the past few weeks have also heald their gains for the most part. The Top 100 currencies have been shuffled up properly. Some currencies were either hammered during the run or remained mostly stable and they are ones we should be looking at. With that said, we want to avoid the dealy dead ones and are just not seeing any volume with this hyping market.

I'm a little disappointed to miss the smashing breakout on BitShare. A currency I had studied and traded very early on. Trading margin on BTS back on Poloniex back in the day was a lot of fun.
The asset is up 68% in the last 36hours!

🎓 Market Update 🎓

🔸Check out the price action over the last 12h.

Courtesy of tradingroom.io

Bamboozled up as expected. Gave the right correction of -2.5% and climbed up real quick.
Up by about 12% from the previous update.

https://www.tradingview.com/x/Y5oYuT5p/

VeChain hammered through Target 2, 17% in the kitty

What's better than catching the bottom exactly and making a phenomenal run?

https://www.tradingview.com/x/s0221fZr/

Bitcoin update on Monday, February 3rd, 2020 :

Looking at my previous bias, although the last spike to the $9600 region has occured with a huge rejection, I still believe that the price will have 1 more spike to the upside because the MACD represents the alignment with the bias I've mentioned before. There must be 1 more wave to the upside to touch at least $9700 region. More details analysis will be covered tonight so don't miss out!

Chart Link

$BNB / $BTC

As expected, no major move due to scambags from IEO shill.

https://www.tradingview.com/x/bzAwhTBB/

Bitcoin : Bullish sentiment short term

Hello fellas, welcome back to the technical analysis of bitcoin here. Let's get it started.

We've seen a huge rejection of almost 3% from the peak of February 3rd candle which produce a type of shooting star with a wick to the down side. And because the 4 hours candle has closed with this type of candle, a lot of trader has predicted the potential bearish bias as a reversal pattern for bitcoin. But, for me I don't think that the reversal will occur in the near future, and here I acknowledge you my arguments for it.

1. We haven't seen any type of bullish divergence on RSI yet. The RSI still forming a higher high structure until now.
2. The MACD histogram on 4 hours chart is still ticking down in the negative side and I haven't seen any sign of lower high on the histogram just yet.
3. If we assume this as the ending diagonal of wave C with an expanding pattern, the 5th wave must be over extended and is likely to touch the upper line of this diagonal.
4. The upper line of the diagonal wave is having a confluence with the 1.618 fibonacci extention. From this, I classify e the green area as the potential liquidation zone for the short.

Because we see these confluence reasons for the bitcoin, I expect the price to have a spike up 1 more time before the huge downside move. Good luck

Chart

Bitcoin might dump hard

If you have stuck on our channel for long enough, you will know that the only thing we trust more than my own custom indicator, it is the 18 EMA. Price cross and doom.

Well the Cup and Handle played out well with a nice pump but the massive Open Interest is over $1.03 billion dollars which is like a smshing river on the dam. Once this damn breaks, the blood will be all over.

https://www.tradingview.com/x/XHljqKC9/

Bang on! Target 3 hit.

https://www.tradingview.com/x/XZz0QzP1/

Love us or hate us, you gotta agree that we never fail to deliver when it matters.

https://www.tradingview.com/x/1Flmsse2/

🎓#TradeUpdate 🎓
🎓 $MTL / BTC - View Chart

🔸Signal Info: Metal
Rank: #159
Exchange: Binance (Trade)
Direction: LONG

🔸Status: Smashing 1st target achieved on MTL. The price reached a high of 4000sats or +60% profit, and it has now come to rest just above our profit target. The 0.618 fib turned out to be the perfect marker.

🎯+40% profit in the bank!

🔸Current Price: 2860sats
❇️Entry: 2520sats
🎯Take Profit: 3555sats, 4650sats, 5565sats
⤴️Stop Limit: 3345sats (+32%)

Update on some open positions:

$ONT - BTC +20% (x5)
$SNM -BTC +7%
$XMR -BTC +6.4%
$RLC -BTC +32%
$DATA - BTC +11.5%
$EOS - BTC +10.5%
$MTL - BTC +57%

❇️ Total open profit: +224.4%

The picture that you see below is known as the Double-Top Chart Pattern.

Many chartists and technical analysts over the years have observed that, when the price forms this pattern, it typically tends to lead in a precipitous decrease (i.e., this is a bearish reversal chart pattern).

For the one that I showed above, in specific, it has been observed that when the price breaks below the point identified with a green circle in the picture

The pattern has been ‘completed’. Based on chart strategy, it would be advisable for traders to take out a short/put on anything that has exhibited price action moving in such a pattern that has reached that point in its formation.

As the famous trader, Thomas Bulkowski, noted when he performed an elaborate study of chart patterns — they predicted price action does not always come to fruition.

Thomas Bulkowski by looking through decades of price data for the United States’ stock markets and observing every instance of when a chart pattern would occur as per his predefined criteria for what qualified as a certain chart pattern.

He then studied the subsequent price action after the chart pattern was identified and noticed that there was no guarantee that the said pattern would manifest itself correctly.

That same principle applies today.

In general, I’d agree with that estimate. However, it is worth noting that these estimates were not made with cryptocurrency in mind.

From my experience as a trader, I’ve found that Double-Top/Double-Bottom Patterns are more or less hit or miss (50/50), in terms of them actually being completed.
———————————————————--
Chart Patterns Do Not Last Forever

One common mistake that I’ve seen many crypto traders make is assuming that a chart pattern will remain valid forever or that it signals a major reversal in the entire market.

For example, some individuals have asked me:
“Bobayaga, do you feel as though the Double-Top that we observed on Bitcoin following the second test of $11.8k means we will go to $3–4k?”


Every time I was asked this question, I always responded with a resounding ‘no’.
This is because, there are ‘rules’ to every chart pattern.
For the Double-Top, for the instance, the distance between the ‘top’ and the ‘neckline’, in terms of price, gives a target of where we can expect the price to end up at.

——————————————————————————
Chart Patterns Must First COMPLETE Before They Can Be Declared So

I’ve seen a lot of cryptotraders also claim “Oh this is a cup and handle!” before the handle has formed.

Make sure that the pattern itself has actually completed before making any definitive statements about what is or isn’t in a certain pattern formation.

For more : @CrytoTraderLibrary

🎓#SpotTrade 🎓
🎓 $ZRX / BTC - View Chart

🔸Signal Info: 0x
Rank: #41
Exchange: Binance (Trade)
Direction: LONG

🔸Analysis: Not often that a pitchfork gets laid flat, but this time it seemed to work out pretty well. Price is fairly channel bound after the ~175% run late last year. The price broke out of the wedge formation yesterday, and the action on BTC right now has made it retrace completely. Looks good for an entry here.

🔸Current Price: 2569sats
❇️Entry: 2540sats
🎯Take Profit: 3477sats, 4245sats, Open
♦️Stop Limit: 2436sats (-4%)

📊Re-entry level: 2313sats

🎓#MarketUpdate 🎓
🎓 $WRX / BTC - View Chart

💹 Trading on the new Binance Launchpad project is live. Nice and volatile in these early days of price discovery.

🔸Exchange: Binance (Trade)