https://www.tradingview.com/x/MmbhxJ85/
Bitcoin : Contracting triangle at wave 4
Hello all, welcome back to the daily analysis about bitcoin. This time I will share my overview of current market condition based on the 4 hour chart.
Continuing my yesterday's analysis about bitcoin, This time I will share to you about the Flag correction pattern which usually occurs in the 4th wave after parabolic moves. I will try to explain the psychology behind it. One of the most used of the flag correction pattern is the 5 correction sub wave that forms a contracting triangle. Usually the bears and the bulls will have a war to defend their own interest. Because of this war which 2 of them have the same power level, the price moves in a sideways with the edge is getting narrower which we know that the edge as APEX where we see a trend confirmation from this area.
The contracting triangle usually occurs at the wave 4 to retrace the wave 3. At current condition, the characteristic of the pattern is very typical as the flag correction wave of the 4th. Beside there is a strong indication that the price will continue it to the upside with the RSI is trending above the 60 level which is the area of bullish momentum.
I will wait for the price to test the lower line of the contracting triangle as the potential end of 5 wave structure which is the end of the potential wave 4 to enter long position. Because at this level ($9000 - $8800), usually opening long will produce a low risk trade. But, if I'm not able to catch the price at the lower line of the channel, a buy at the break out could be considered with tight SL as well.
My bias is bullish for short term and $10000 could be tested in near future.
Bitcoin : Contracting triangle at wave 4
Hello all, welcome back to the daily analysis about bitcoin. This time I will share my overview of current market condition based on the 4 hour chart.
Continuing my yesterday's analysis about bitcoin, This time I will share to you about the Flag correction pattern which usually occurs in the 4th wave after parabolic moves. I will try to explain the psychology behind it. One of the most used of the flag correction pattern is the 5 correction sub wave that forms a contracting triangle. Usually the bears and the bulls will have a war to defend their own interest. Because of this war which 2 of them have the same power level, the price moves in a sideways with the edge is getting narrower which we know that the edge as APEX where we see a trend confirmation from this area.
The contracting triangle usually occurs at the wave 4 to retrace the wave 3. At current condition, the characteristic of the pattern is very typical as the flag correction wave of the 4th. Beside there is a strong indication that the price will continue it to the upside with the RSI is trending above the 60 level which is the area of bullish momentum.
I will wait for the price to test the lower line of the contracting triangle as the potential end of 5 wave structure which is the end of the potential wave 4 to enter long position. Because at this level ($9000 - $8800), usually opening long will produce a low risk trade. But, if I'm not able to catch the price at the lower line of the channel, a buy at the break out could be considered with tight SL as well.
My bias is bullish for short term and $10000 could be tested in near future.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
#ETH/BTC
#ETH/BTC
Here We Go...
ETH Hits The Target.
Now, i Would Reccommend You Guys To Must Have StopLoss On Your Open ALTs Positions.
Correction Will Begin Shortly 📉
Here We Go...
ETH Hits The Target.
Now, i Would Reccommend You Guys To Must Have StopLoss On Your Open ALTs Positions.
Correction Will Begin Shortly 📉
This is for intraday trading. I see a potential bull trap action from the bulls where the price is trying so hard to sustain above the upper line of the contracting triangle but it looks like losing strength with lowered down the volume. For short term purpose, I will see the white support trend line as the confirmation line to enter the short which means whenever the price breaks down of this support trend line, I will open a short with potential target between golden ratio and the .786 fibonacci retracement. This is an action to complete the E wave on the higher degree which I anticipate it as the contracting triangle. This is how you trade when the price moves inside the triangle.
https://www.tradingview.com/x/IeUVnX2a/
Sideways market for this week
Hello all, Happy Monday I hope you're doing great! Today is Monday and I will try to cover the bitcoin's analysis for 7 days ahead.
Bitcoin, Just like what I've posted earlier in my previous idea about the contracting triangle is still looking good and still in play as well. The price is still trending inside this triangle since the beginning of the month. However, there is another good factor here that it's potentially could be the 4th wave based on the elliot wave theory.
If this is the 5 wave structure and we're still trending at the wave 4, it's potentially that we'll see the price to moves closer to the APEX of the triangle which will become a lot of uncertainty there. Until we see a break out on both side, I think it's better to stay away from the swing position as well.
The other look is on the RSI and MACD. Just like what you've seen, the RSI is still trending right between the 60 and 40 level which is categorized as the neutral zone. The MACD itself is showing us the same thing here, Histogram that occur in the last 7 days is way smaller than the last month's histogram. This is another proof that we'll face a sideways market in the next 7 days as consequences of the contracting triangle and the potential wave 4.
For short term, I do believe there might be a touch toward the lower line of the triangle which is around $9000 - $8850 as well. The closer the price to the APEX, the higher the risk of entering any position.
Sideways market for this week
Hello all, Happy Monday I hope you're doing great! Today is Monday and I will try to cover the bitcoin's analysis for 7 days ahead.
Bitcoin, Just like what I've posted earlier in my previous idea about the contracting triangle is still looking good and still in play as well. The price is still trending inside this triangle since the beginning of the month. However, there is another good factor here that it's potentially could be the 4th wave based on the elliot wave theory.
If this is the 5 wave structure and we're still trending at the wave 4, it's potentially that we'll see the price to moves closer to the APEX of the triangle which will become a lot of uncertainty there. Until we see a break out on both side, I think it's better to stay away from the swing position as well.
The other look is on the RSI and MACD. Just like what you've seen, the RSI is still trending right between the 60 and 40 level which is categorized as the neutral zone. The MACD itself is showing us the same thing here, Histogram that occur in the last 7 days is way smaller than the last month's histogram. This is another proof that we'll face a sideways market in the next 7 days as consequences of the contracting triangle and the potential wave 4.
For short term, I do believe there might be a touch toward the lower line of the triangle which is around $9000 - $8850 as well. The closer the price to the APEX, the higher the risk of entering any position.
https://www.tradingview.com/x/IukQiWQi/
Bitcoin : Breaking out, wave 5 is in play.
At the time I make this post, I'm a bit shock with the ability of the bulls when it can push to the higher resistance trend line of the contracting triangle at the rate where the bulls are "not to strong". The sudden huge volume that has occured, makes it at another pump with a sign of breaking out the resistance trend line.
With this action, I think it's pretty important to see the price breaks out of the upper line of the triangle, making my previous EW count become valid again and I do believe that the price might push to the higher region as well. For the contracting triangle it self, I think that it's becoming invalidated after this breaking out action. The only pattern that I can see during this movement is the truncated C flat wave (Wave C can't surpass the area of wave A) which is usually occurs at the highly bullish market.
The other reason is at the 4 hours chart, the RSI has broken out of the previous resistance and is trending above the 60 level which is entering the bullish zone as well.
I flip my previous short position into long at $9800 and targeting the $12000 as well before this month ends
Bitcoin : Breaking out, wave 5 is in play.
At the time I make this post, I'm a bit shock with the ability of the bulls when it can push to the higher resistance trend line of the contracting triangle at the rate where the bulls are "not to strong". The sudden huge volume that has occured, makes it at another pump with a sign of breaking out the resistance trend line.
With this action, I think it's pretty important to see the price breaks out of the upper line of the triangle, making my previous EW count become valid again and I do believe that the price might push to the higher region as well. For the contracting triangle it self, I think that it's becoming invalidated after this breaking out action. The only pattern that I can see during this movement is the truncated C flat wave (Wave C can't surpass the area of wave A) which is usually occurs at the highly bullish market.
The other reason is at the 4 hours chart, the RSI has broken out of the previous resistance and is trending above the 60 level which is entering the bullish zone as well.
I flip my previous short position into long at $9800 and targeting the $12000 as well before this month ends
https://www.tradingview.com/x/UtTrr0V1/
#BTC/USDT
From Previous 6 Days
Bitcoin Has Been Pumping More & More Without Any Retracement Following a Similar Sort Of Pattern
"Accumulation ↪️ Breakout"
Which Made SHORTers Loose a Lot
Where as LONG Earned a Lot
Almost 20% Pump Without Any Correction
This is a Ticking Bomb 💣
This Time I'm Expecting Bitcoin To Breakdown Instead Of Another Breakout
Coz Majority Of Normal Traders Would Have Turned Bullish Coz Of 2 Factors :
1️⃣ $10K Resistance Blown Off
2️⃣ Continues Pump
Making SHORTers Rekt
Personally, I'll Not Be Taking Any Positions in Bitcoin Right Now...
Will Wait For Things To Cool Down Or a Big Drop.
Just Have StopLoss To Your Open Position & Chill Out. ☮️
#BTC/USDT
From Previous 6 Days
Bitcoin Has Been Pumping More & More Without Any Retracement Following a Similar Sort Of Pattern
"Accumulation ↪️ Breakout"
Which Made SHORTers Loose a Lot
Where as LONG Earned a Lot
Almost 20% Pump Without Any Correction
This is a Ticking Bomb 💣
This Time I'm Expecting Bitcoin To Breakdown Instead Of Another Breakout
Coz Majority Of Normal Traders Would Have Turned Bullish Coz Of 2 Factors :
1️⃣ $10K Resistance Blown Off
2️⃣ Continues Pump
Making SHORTers Rekt
Personally, I'll Not Be Taking Any Positions in Bitcoin Right Now...
Will Wait For Things To Cool Down Or a Big Drop.
Just Have StopLoss To Your Open Position & Chill Out. ☮️
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/UtTrr0V1/ #BTC/USDT From Previous 6 Days Bitcoin Has Been Pumping More & More Without Any Retracement Following a Similar Sort Of Pattern "Accumulation ↪️ Breakout" Which Made SHORTers Loose a Lot Where as LONG Earned a Lot…
https://www.tradingview.com/x/u0928jn7/
Bitcoin : A normal volatility, Break out strategy?
Hello all, the latest volatility from bitcoin was so extreme with a pump and dump manipulation on the market has occured. This action however making the potential of fake break out in the future to occur.
And to anticipate the possible movement in the future, I have to cover some of potential scenario that is likely to happen in the future. The first scenario that I find is that the latest drop from the $10000 region was only just a normal rejection as the price reached out the strongest resistance level and the psychological area for short position. The fact that there is a long wick toward the green region which is the golden pocket zone is supporting this scenario. Beside, at current level the price is still trending at above the upper line of the contracting triangle (using the body to body connecting method on daily time frame) which indicates this dump action as the action of phase 2 in the break out strategy which is retesting the previous broken resistance as support. If this scenario is valid, there will be a nice and beautiful bullish movement to the upside and the $12000 target is still valid.
The 2nd scenario which is the bearish one is when the price drops below the lower line of the contracting triangle and eliminate all the previous weeks which will automatically invalidate my Elliot wave count and my above bullish bias. If this occurs, I will expect a mid term drop to the $7500 and $6000 region again.
Currently I'm still waiting after the latest volatility wipes out most of the long position. Kindly wait for the confirmation on the micro time frame to get confirmation.
Bitcoin : A normal volatility, Break out strategy?
Hello all, the latest volatility from bitcoin was so extreme with a pump and dump manipulation on the market has occured. This action however making the potential of fake break out in the future to occur.
And to anticipate the possible movement in the future, I have to cover some of potential scenario that is likely to happen in the future. The first scenario that I find is that the latest drop from the $10000 region was only just a normal rejection as the price reached out the strongest resistance level and the psychological area for short position. The fact that there is a long wick toward the green region which is the golden pocket zone is supporting this scenario. Beside, at current level the price is still trending at above the upper line of the contracting triangle (using the body to body connecting method on daily time frame) which indicates this dump action as the action of phase 2 in the break out strategy which is retesting the previous broken resistance as support. If this scenario is valid, there will be a nice and beautiful bullish movement to the upside and the $12000 target is still valid.
The 2nd scenario which is the bearish one is when the price drops below the lower line of the contracting triangle and eliminate all the previous weeks which will automatically invalidate my Elliot wave count and my above bullish bias. If this occurs, I will expect a mid term drop to the $7500 and $6000 region again.
Currently I'm still waiting after the latest volatility wipes out most of the long position. Kindly wait for the confirmation on the micro time frame to get confirmation.
https://www.tradingview.com/x/nmQUQVAz/
#BTC/USDT ‼️
This Time The Current Support Would No Longer To Be Holded.
Incase, if Breaksout 📈
Next Hard Resistance is Available at $10K Level
#BTC/USDT ‼️
This Time The Current Support Would No Longer To Be Holded.
Incase, if Breaksout 📈
Next Hard Resistance is Available at $10K Level
https://www.tradingview.com/x/IPlaIDs2/
A quick insight for current bitcoin's condition in short term. It looks like that the upper line of the contracting triangle which previously acted as resistance is holding the price really well. It looks like the 5th wave of the EW structure is in play for now. If this is true, the scenario 1 is in play as well
A quick insight for current bitcoin's condition in short term. It looks like that the upper line of the contracting triangle which previously acted as resistance is holding the price really well. It looks like the 5th wave of the EW structure is in play for now. If this is true, the scenario 1 is in play as well
https://www.tradingview.com/x/V1qCAeQI/
Weekly overview : Similar pattern with the 2015 -2017 bull run
Good morning every body! I hope you're having a good day ahead. This time, I won't cover the low time frame analysis and this is much more than the swing trade analysis coming ahead but also talking about the future of the cryptocurrency market as you know the bitcoin is the mother coin and most of the stakeholders are treating the bitcoin as the benchmark of the whole momentum in the market.
First thing first, I always come up with the most important thing in the chart applied and as you can see, the whole up trend channel is becoming the most important factor that gives the significant of the bitcoin's moves.This up trend channel has been formed since the 2013 and still holding well the price of the bitcoin. As long as the price is still trending inside this channel, the major trend is overall bullish even if the price touches the $5000 region, this is bullish as long as the price is still trending inside this channel. In my opinion, it's still worth to make this bitcoin as 1 of your crypto asset for investment.
The second thing is the repeated pattern that is occuring inside this channel. There is a potential repeated pattern coming soon reflecting to the pattern that has occured back in the early of 2014. Back at the 2015, the beginning characteristic before the bull run is that the price broke down of the yellow resistance trend line which held the price for almost 2 years and the price was succeeded to breaches the 55 EMA as the dynamic resistance. Similar with the 2015 pattern, currently the price is trending slightly below the yellow resistance trend line and the price has broken out of the EMA 55 as dynamic resistance.
If the price is able to breaches the yellow resistance trend line, I will enter a huge amount of long position on bitcoin. Because, if there's a similar pattern to occur, we will see a huge bull run in upcoming months or years. We might see the price to head back to the lower region is the price fails to break the yellow resistance and we might see the potential price to trending closer to the APEX. But, as long as the price is still trending inside this uptrend channel, I have no worry and assume the up trend is imminent.
Weekly overview : Similar pattern with the 2015 -2017 bull run
Good morning every body! I hope you're having a good day ahead. This time, I won't cover the low time frame analysis and this is much more than the swing trade analysis coming ahead but also talking about the future of the cryptocurrency market as you know the bitcoin is the mother coin and most of the stakeholders are treating the bitcoin as the benchmark of the whole momentum in the market.
First thing first, I always come up with the most important thing in the chart applied and as you can see, the whole up trend channel is becoming the most important factor that gives the significant of the bitcoin's moves.This up trend channel has been formed since the 2013 and still holding well the price of the bitcoin. As long as the price is still trending inside this channel, the major trend is overall bullish even if the price touches the $5000 region, this is bullish as long as the price is still trending inside this channel. In my opinion, it's still worth to make this bitcoin as 1 of your crypto asset for investment.
The second thing is the repeated pattern that is occuring inside this channel. There is a potential repeated pattern coming soon reflecting to the pattern that has occured back in the early of 2014. Back at the 2015, the beginning characteristic before the bull run is that the price broke down of the yellow resistance trend line which held the price for almost 2 years and the price was succeeded to breaches the 55 EMA as the dynamic resistance. Similar with the 2015 pattern, currently the price is trending slightly below the yellow resistance trend line and the price has broken out of the EMA 55 as dynamic resistance.
If the price is able to breaches the yellow resistance trend line, I will enter a huge amount of long position on bitcoin. Because, if there's a similar pattern to occur, we will see a huge bull run in upcoming months or years. We might see the price to head back to the lower region is the price fails to break the yellow resistance and we might see the potential price to trending closer to the APEX. But, as long as the price is still trending inside this uptrend channel, I have no worry and assume the up trend is imminent.
#BTC/USDT (Binance Futures) ‼️
SHORT
Leverage : 2x - 4x
Entry : $9950 - $10 080
Target : OPEN
Will Hold This With Trailing StopLoss
StopLoss : $10284
SHORT
Leverage : 2x - 4x
Entry : $9950 - $10 080
Target : OPEN
Will Hold This With Trailing StopLoss
StopLoss : $10284
https://charts.cointrader.pro/snapshot/qSEsS
$12000 is still in the hand
Good morning everybody, here is another insight from high time frame that eliminates all the volatility and reduce the fake out moves in the smaller time frame.
From this 3 days perspective, we can see that the price has already broken out of the resistance trend line and the gray zone which acts as the previous broken support that is now become resistance as well. It's clearly at this high time frame, the price is having its phase 2 of break out strategy which retesting the previous broken resistance as support. I do believe there will be a test toward the interim swing high which is at the blue region.
The potential price action at the blue region
You can see that if the price is able to test the blue region in the near future which is the action of testing this upcoming resistance, there will be a higher possibility of the price to breaks this region as well. There are several reasons for this possibility.
1. Since the price tests again this blue region, there will be the 3rd times the price tests it. Usually, when the 3rd time is always comes with a good result.
2. Based on the RSI, it's still trending above the 60 level which is clearly a bullish zone and there is still a lot of room to grow from this RSI perspective.
3. Base on the MACD, we haven't seen any action of weakness in momentum. When we see it at the histogram, there's still a higher high in momentum which give the indication of the price to gain more in the future.
So, it's still a good time to collect some of your bitcoin here. At current rate, it's still can categorized as the strong support zone for bitcoin. It's still logical to see the "real" spike in the market.
$12000 is still in the hand
Good morning everybody, here is another insight from high time frame that eliminates all the volatility and reduce the fake out moves in the smaller time frame.
From this 3 days perspective, we can see that the price has already broken out of the resistance trend line and the gray zone which acts as the previous broken support that is now become resistance as well. It's clearly at this high time frame, the price is having its phase 2 of break out strategy which retesting the previous broken resistance as support. I do believe there will be a test toward the interim swing high which is at the blue region.
The potential price action at the blue region
You can see that if the price is able to test the blue region in the near future which is the action of testing this upcoming resistance, there will be a higher possibility of the price to breaks this region as well. There are several reasons for this possibility.
1. Since the price tests again this blue region, there will be the 3rd times the price tests it. Usually, when the 3rd time is always comes with a good result.
2. Based on the RSI, it's still trending above the 60 level which is clearly a bullish zone and there is still a lot of room to grow from this RSI perspective.
3. Base on the MACD, we haven't seen any action of weakness in momentum. When we see it at the histogram, there's still a higher high in momentum which give the indication of the price to gain more in the future.
So, it's still a good time to collect some of your bitcoin here. At current rate, it's still can categorized as the strong support zone for bitcoin. It's still logical to see the "real" spike in the market.
charts.cointrader.pro
CoinTrader.Pro Chart Viewer
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Few members always worried about alts position, Hedge with $BTC SHORT position to reduce its impact as simple as that.
Remember: If your view on the market is wrong, then Hedging won't give you profit. Its just to reduce loss in case of black swan event.
What is a Black Swan?
A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, their severe impact, and the widespread insistence they were obvious in hindsight.
Remember: If your view on the market is wrong, then Hedging won't give you profit. Its just to reduce loss in case of black swan event.
What is a Black Swan?
A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterized by their extreme rarity, their severe impact, and the widespread insistence they were obvious in hindsight.
https://www.tradingview.com/x/y5ppU0ak/
Bitcoin : Fibonacci and the perspective in 1 hour time frame.
Hello all, Happy Saturday! Today I want to cover about today's potential volatility that could occur in the market. Now, let's do the technical analysis.
Whenever it comes to the weekend, usually the price will have an extra volatility due to the closes on the CME daily candle in the next 2 days and a potential addition volume from the retail traders. With this potential of much volatility, there will be a lot of faking out moves in the market as well. Wick fishing, squeeze are those thing that usually occur between Saturday and Sunday.
Now let's look at the RSI as one of my favorite volume indicator which in the lower time frame is now breaching the lower limit of the neutral zone and entering the bearish zone as well. I'm pretty sure that the bears will try to push the price lower to make the RSI trends at the oversold region. Similar action at the MACD histogram too, both the histogram and the trend lines are trending slight below the 0 level.
Based on the price action, the above statement is in align with the potential correction to the golden pocket zone which has the confluence with the previous broken resistance trend line of the contracting triangle (around $9400). In this case, I will assume a bounce after the price touches this region because this support region is the strong level for intraday level. I will expect the price bounces and head back to the interim swing high which is having an alignment with the -.618 fibonacci retracement as the ideal short term target as well.
Huge volatility incoming, just be cautious!
Bitcoin : Fibonacci and the perspective in 1 hour time frame.
Hello all, Happy Saturday! Today I want to cover about today's potential volatility that could occur in the market. Now, let's do the technical analysis.
Whenever it comes to the weekend, usually the price will have an extra volatility due to the closes on the CME daily candle in the next 2 days and a potential addition volume from the retail traders. With this potential of much volatility, there will be a lot of faking out moves in the market as well. Wick fishing, squeeze are those thing that usually occur between Saturday and Sunday.
Now let's look at the RSI as one of my favorite volume indicator which in the lower time frame is now breaching the lower limit of the neutral zone and entering the bearish zone as well. I'm pretty sure that the bears will try to push the price lower to make the RSI trends at the oversold region. Similar action at the MACD histogram too, both the histogram and the trend lines are trending slight below the 0 level.
Based on the price action, the above statement is in align with the potential correction to the golden pocket zone which has the confluence with the previous broken resistance trend line of the contracting triangle (around $9400). In this case, I will assume a bounce after the price touches this region because this support region is the strong level for intraday level. I will expect the price bounces and head back to the interim swing high which is having an alignment with the -.618 fibonacci retracement as the ideal short term target as well.
Huge volatility incoming, just be cautious!