https://www.tradingview.com/x/bL70e5MB/
Bitcoin : The weekly candle close and the perspective of it
Hello all, Happy Monday and I hope you are all doing great in this market. Now, I want to cover the weekly view of the bitcoin in very detail analysis.
The first thing that I want to give the highlight is usually become the most important thing which highly affect the market movement. And from this technical view, the previous performance becomes the most important. Looking at the top of bullish market around July 2019, we can see that there was a shooting star candle followed with an extra bullish candle but due to there isn't enough strength of that bullish candle, the close price didn't close above the high of the previous candle and that's why the price goes down in upcoming week. Similar with this movement, the price has shown us a similar price action with the July 2019 top. Is this action only a bull trap? We should wait.
The second thing is that the price is still trending at around the blue resistance point. This resistance however is a strong resistance due to the previous action of the price too. Back at the September 2019 when there was a beginning of the bearish market confirmation with a breaks down of current level. Which makes current action to retest the previous broken support as resistance here.
The third and the last thing to see is the RSI as the oscillator indicator. This might be the only reason why I leave current movement for the long term unbiased. Yes, at this indicator the RSI is still trending on neutral zone between the 60 - 40 level which is an area of uncertainty. Breaks above the 60 will make the bullish bias and breaks below the 40 will confirm the bearish bias.
At last, there is a quotes saying patience is gold and I think this time we have to apply this quotes as well. We haven't understood yet whether this action is bull trap or not. But, it looks like a bull trap for me.
Bitcoin : The weekly candle close and the perspective of it
Hello all, Happy Monday and I hope you are all doing great in this market. Now, I want to cover the weekly view of the bitcoin in very detail analysis.
The first thing that I want to give the highlight is usually become the most important thing which highly affect the market movement. And from this technical view, the previous performance becomes the most important. Looking at the top of bullish market around July 2019, we can see that there was a shooting star candle followed with an extra bullish candle but due to there isn't enough strength of that bullish candle, the close price didn't close above the high of the previous candle and that's why the price goes down in upcoming week. Similar with this movement, the price has shown us a similar price action with the July 2019 top. Is this action only a bull trap? We should wait.
The second thing is that the price is still trending at around the blue resistance point. This resistance however is a strong resistance due to the previous action of the price too. Back at the September 2019 when there was a beginning of the bearish market confirmation with a breaks down of current level. Which makes current action to retest the previous broken support as resistance here.
The third and the last thing to see is the RSI as the oscillator indicator. This might be the only reason why I leave current movement for the long term unbiased. Yes, at this indicator the RSI is still trending on neutral zone between the 60 - 40 level which is an area of uncertainty. Breaks above the 60 will make the bullish bias and breaks below the 40 will confirm the bearish bias.
At last, there is a quotes saying patience is gold and I think this time we have to apply this quotes as well. We haven't understood yet whether this action is bull trap or not. But, it looks like a bull trap for me.
https://www.tradingview.com/x/e4nlm4sY/
Here is an update about my latest post about Ethereum. The price has already broken out of the flag pattern (yellow channel) and is now reached the first resistance around $215 . We can now expect a moves toward the major resistance of $226 and $250.
Here is an update about my latest post about Ethereum. The price has already broken out of the flag pattern (yellow channel) and is now reached the first resistance around $215 . We can now expect a moves toward the major resistance of $226 and $250.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
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https://www.tradingview.com/x/5gIknVWk/
Bitcoin : perspective for short term
Hello all, here is the another bitcoin perspective from the daily time frame.
Yesterday, the price has dropped heavily from the $9800 to $9200 just in 1 hours of trading session. Because of this drop, a lot of traders has changed their bias from bullish to bearish. But, for me it's not that easy change bias only looking at the panic attack in a single action! For me, as a trader we have to stick on our original plan and be sure with what we've done. Based on current price movement, I can't be bearish unless the price breaks down of the lower line of the yellow up trend channel. Currently the price is still trending right at the median line of the channel which in my opinion, it looks like a break out will occur in near future.
The next factor why I keep my own bullish bias for short term is the RSI, The RSI on the daily chart is trending right above the 60 level which is the boundary between neutral and bullish zone. This means the price is trying to shift its momentum from neutral to bullish.
The last thing I want to highlight is that there is a confluence factor that may cause an upward movement either it's a quick wick or a slower movement to the upside. The fibonacci range, You can see that the white region that I draw on the chart is having a confluence with the upper line of the channel and it's an area between the -0.382 and -0.618 fibonacci retracement. That's why I will conclude that this area is the most heavy resistance for current movement.
My bias remains the same with the bullish short term and unbiased mid and long term. Currently, I am keeping 50% of my portfolio in cash to hedge in the potential long term drop.
Bitcoin : perspective for short term
Hello all, here is the another bitcoin perspective from the daily time frame.
Yesterday, the price has dropped heavily from the $9800 to $9200 just in 1 hours of trading session. Because of this drop, a lot of traders has changed their bias from bullish to bearish. But, for me it's not that easy change bias only looking at the panic attack in a single action! For me, as a trader we have to stick on our original plan and be sure with what we've done. Based on current price movement, I can't be bearish unless the price breaks down of the lower line of the yellow up trend channel. Currently the price is still trending right at the median line of the channel which in my opinion, it looks like a break out will occur in near future.
The next factor why I keep my own bullish bias for short term is the RSI, The RSI on the daily chart is trending right above the 60 level which is the boundary between neutral and bullish zone. This means the price is trying to shift its momentum from neutral to bullish.
The last thing I want to highlight is that there is a confluence factor that may cause an upward movement either it's a quick wick or a slower movement to the upside. The fibonacci range, You can see that the white region that I draw on the chart is having a confluence with the upper line of the channel and it's an area between the -0.382 and -0.618 fibonacci retracement. That's why I will conclude that this area is the most heavy resistance for current movement.
My bias remains the same with the bullish short term and unbiased mid and long term. Currently, I am keeping 50% of my portfolio in cash to hedge in the potential long term drop.
Incident title: Trading engine downtime
Incident time: May 19, 2020 - 12:13 UTC
Incident status: Investigating
Details: The Trading Engine is currently down. We're working to bring it back online as soon as possible. Further updates to follow shortly.
BitMEX.com - Trading Engine - Operational
Incident time: May 19, 2020 - 12:13 UTC
Incident status: Investigating
Details: The Trading Engine is currently down. We're working to bring it back online as soon as possible. Further updates to follow shortly.
BitMEX.com - Trading Engine - Operational
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Trading engine downtime
BitMEX's Status Page - Trading engine downtime.
I know we haven't dished out the altcoin and microcap charts in about a week now but believe me, every penny saved is a penny earned. We don't want to give you trades we ourselves don't invest.
Second, we are slightly busy with a video creation contest and have dedicated most of our time and energy in keeping the Hashed Plutus name high. Bear with us for another day or two and we will be back mashing alts and bitcoin like never before.
Stay safe Familia! ❤️
Second, we are slightly busy with a video creation contest and have dedicated most of our time and energy in keeping the Hashed Plutus name high. Bear with us for another day or two and we will be back mashing alts and bitcoin like never before.
Stay safe Familia! ❤️
https://www.tradingview.com/x/eSonXlPc/
Crypto Total Market Cap : Testing the most crucial level
Hello all, today I won't do a technical chart work on bitcoin because the bitcoin's movement is still in play with yesterday's analysis.
Currently the crypto market cap is testing the white region which becomes a strong area of resistance. Not just it's testing the area of .786 of fibonacci retracement which is the last crucial number of all the fibonacci level but, it's having an alignment with the white resistance trend line that has held since June 2019 where the last year's bullish market take place.
From the RSI perspective, there is a movement to breaches the 60 level which could be the action of shifting from neutral to bullish. This is however an action of the bulls to gain strength to breaks the strong resistance above. Similar with the RSI, the MACD is showing us a good deal too. The histogram is trying to claims back the positive side to give us a confirmation that the bulls is in control now.
Currently, the total market cap is at around $264 Billion and this area is a strong resistance. A break above this region can lead the total market cap to $350 Billion which is the interim swing high. With this possibility of break out of the resistance, there is a possibility for the crypto market to have another bullish market too. Both on bitcoin and altcoins will get benefit from this potential money inflow from the increasing volume and total market cap.
Crypto Total Market Cap : Testing the most crucial level
Hello all, today I won't do a technical chart work on bitcoin because the bitcoin's movement is still in play with yesterday's analysis.
Currently the crypto market cap is testing the white region which becomes a strong area of resistance. Not just it's testing the area of .786 of fibonacci retracement which is the last crucial number of all the fibonacci level but, it's having an alignment with the white resistance trend line that has held since June 2019 where the last year's bullish market take place.
From the RSI perspective, there is a movement to breaches the 60 level which could be the action of shifting from neutral to bullish. This is however an action of the bulls to gain strength to breaks the strong resistance above. Similar with the RSI, the MACD is showing us a good deal too. The histogram is trying to claims back the positive side to give us a confirmation that the bulls is in control now.
Currently, the total market cap is at around $264 Billion and this area is a strong resistance. A break above this region can lead the total market cap to $350 Billion which is the interim swing high. With this possibility of break out of the resistance, there is a possibility for the crypto market to have another bullish market too. Both on bitcoin and altcoins will get benefit from this potential money inflow from the increasing volume and total market cap.
🏆 Engagement Contest 🏆
This contest is hosted by Hashed Plutus in an effort to drive engagement for our content. This idea inspires us to present our fellow, loyal telegrams members with an opportunity to join us on the road to victory and to share the in spoils! We will bestow one randomly selected entry with lifetime access to the indicator, and another two participants with 1 year subscription each.
That's $200 worth prizes!
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Ends: 20/05/2020
Prizes Announcements: 22/05/2020
How to enter?
Simple, comment on this: Twitter post
Complete this two question Google form and your in the running for the prize!
This contest is hosted by Hashed Plutus in an effort to drive engagement for our content. This idea inspires us to present our fellow, loyal telegrams members with an opportunity to join us on the road to victory and to share the in spoils! We will bestow one randomly selected entry with lifetime access to the indicator, and another two participants with 1 year subscription each.
That's $200 worth prizes!
Content starts: 09/05/2020
Ends: 20/05/2020
Prizes Announcements: 22/05/2020
How to enter?
Simple, comment on this: Twitter post
Complete this two question Google form and your in the running for the prize!
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Explore the #OKEx DEX trade portal In a world fast transitioning to decentralization, #TradewithOKEx lets us fearlessly exchange cryptocurrencies on their newest platform, OKEx DEX Trade. Head to @OKEx now with the link below to grab goodies worth $10. h…
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Bitcoin : The closest short term support
The chart however has shown us everything in a very clear for me. The latest drop was because of the previous unbroken resistance that can't be broken as well. This is the consequence of trending at the resistance for too long without any action of broken out. Based on the psychological factor, if the price trends for too long near the support or resistance, there will be a saturation from the stakeholder and they are getting tired which makes them out of their position. This thing has happened lately with a signature move of $200 drop in the last 4 hours.
Based on the previous action, there are at least 4 attempts that try to breaks the resistance but it ends up in failure. Because of this thing, I do believe that the bears are now trying to push lower in the market.
The RSI and the price action look so bearish with the potential of breaking down of the first support. If the price can breaks down current support, there will be a move lower toward the S2 which moves align with the lower line of the channel acting as a support trend line. This S2 is the real support level for the decision maker whether the bear will take over control or the bulls will defend it.
Bitcoin : The closest short term support
The chart however has shown us everything in a very clear for me. The latest drop was because of the previous unbroken resistance that can't be broken as well. This is the consequence of trending at the resistance for too long without any action of broken out. Based on the psychological factor, if the price trends for too long near the support or resistance, there will be a saturation from the stakeholder and they are getting tired which makes them out of their position. This thing has happened lately with a signature move of $200 drop in the last 4 hours.
Based on the previous action, there are at least 4 attempts that try to breaks the resistance but it ends up in failure. Because of this thing, I do believe that the bears are now trying to push lower in the market.
The RSI and the price action look so bearish with the potential of breaking down of the first support. If the price can breaks down current support, there will be a move lower toward the S2 which moves align with the lower line of the channel acting as a support trend line. This S2 is the real support level for the decision maker whether the bear will take over control or the bulls will defend it.
#ALTBTC charts are mostly in downtrend in last 900-1000 days. It is really tough for crypto community. Market has cycle. In my view, almost alt/btc charts have completed full of macro cycle Uptrend=> Distribution => Downtrend => Accumulation and Now we are ready for a new cycle for next few years.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/Jw19qkRk/ Bitcoin : The closest short term support The chart however has shown us everything in a very clear for me. The latest drop was because of the previous unbroken resistance that can't be broken as well. This is the consequence…
Daddy told ya, now at the S1. Let's see how this plays out. Remember, No man went broke taking profits.
🏆 Engagement Contest 🏆
Today we stand proud with our success in the in the Okex video contest! We have been ranked #2 amongst some very tough competition. The team could not be more pleased, and we have not forgotten that me must also give thanks to our members who left such great comments for us.
Prizes Announcements: 22/05/2020
We aim to invest a portion of the winnings into our organization, and to keep building up the name Hashed Plutus!
View our competition submission here: Twitter post
Today we stand proud with our success in the in the Okex video contest! We have been ranked #2 amongst some very tough competition. The team could not be more pleased, and we have not forgotten that me must also give thanks to our members who left such great comments for us.
Prizes Announcements: 22/05/2020
We aim to invest a portion of the winnings into our organization, and to keep building up the name Hashed Plutus!
View our competition submission here: Twitter post
https://www.tradingview.com/x/UA2rgXki/
Bitcoin : Free fall if we breaks the S3
Hello all, here is another analysis of bitcoin's movement in the future. Watch and enjoy it!
The chart has shown us a clear sign of the bearish structure that could be in play. A lot of factors that could easily identify the bears are in full control for now. One of them is the size of the red candle which is the most significant comparing to all factors. The size of the red candle lately are getting bigger and bigger. This fact shows us that the bears work so good to print the net sell in volume.
Yesterday's anticipated region has finally been touched with a style. Just like what I've said previously the S2 whatsoever is like a magnet which is having an alignment with the lower line of the channel. You can see, the price is now trending above it.
I add another closest support with the S2 which is the S3 as the area for us to identify the bear trap region. This is another strong and crucial support of bitcoin if the S2 can't hold the price for now. Breaks below this support can bring the price to a free fall toward $7400 - $7200 region because there isn't any significant level of support between the S3 and the $7400. That's why we might be very aware of this movement.
Bitcoin : Free fall if we breaks the S3
Hello all, here is another analysis of bitcoin's movement in the future. Watch and enjoy it!
The chart has shown us a clear sign of the bearish structure that could be in play. A lot of factors that could easily identify the bears are in full control for now. One of them is the size of the red candle which is the most significant comparing to all factors. The size of the red candle lately are getting bigger and bigger. This fact shows us that the bears work so good to print the net sell in volume.
Yesterday's anticipated region has finally been touched with a style. Just like what I've said previously the S2 whatsoever is like a magnet which is having an alignment with the lower line of the channel. You can see, the price is now trending above it.
I add another closest support with the S2 which is the S3 as the area for us to identify the bear trap region. This is another strong and crucial support of bitcoin if the S2 can't hold the price for now. Breaks below this support can bring the price to a free fall toward $7400 - $7200 region because there isn't any significant level of support between the S3 and the $7400. That's why we might be very aware of this movement.
🏆 Contest winners 🏆
Its time that we announce the winners of the engagement contest. The entries were shuffled and selected by an online tool, and it provides the proof of selection for all to see. Fair is fair, and here are our 3 winners!
1st Prize: @jctomic - link
2nd Prize: @Kellione - link
3rd Prize: @Blockchain_Bobby - link
Congratulations! Thank you to everyone who took part.
The team will be in touch about prize distributions.
Its time that we announce the winners of the engagement contest. The entries were shuffled and selected by an online tool, and it provides the proof of selection for all to see. Fair is fair, and here are our 3 winners!
1st Prize: @jctomic - link
2nd Prize: @Kellione - link
3rd Prize: @Blockchain_Bobby - link
Congratulations! Thank you to everyone who took part.
The team will be in touch about prize distributions.