Alberto seems bullish!
https://www.tradingview.com/x/SbXbC61O/
Bitcoin : The Short Term Perspective
An amazing view based on the lower time frame which potentially could be an intra day trade is on BTC . You can see that even the bitcoin is in another mini consolidation pattern that looks pretty usual in the latest few weeks, the price is slowly forming something that is important.
Currently, the price is forming some sign of an symmetrical triangle which I always anticipate it as a mini consolidation in this lower time frame. A good thing has followed this kind of structure although there remains an uncertainty in the market too. However, price is coming closer to the APEX of this triangle and there is a consecutive lower low structure in the RSI which means there might be a potential continuation occur in the near future.
The confirmation of buying position is whenever we see the price can breaks out of the upper line of this triangle pattern . A target must be at the swing high of current structure and the golden pocket zone. The stop loss must be as low as we can to produce a nice and profitable RR, that's why I'll put my SL under the $10500 ish to maintain a 2.4 RR which for me is still worth it.
https://www.tradingview.com/x/SbXbC61O/
Bitcoin : The Short Term Perspective
An amazing view based on the lower time frame which potentially could be an intra day trade is on BTC . You can see that even the bitcoin is in another mini consolidation pattern that looks pretty usual in the latest few weeks, the price is slowly forming something that is important.
Currently, the price is forming some sign of an symmetrical triangle which I always anticipate it as a mini consolidation in this lower time frame. A good thing has followed this kind of structure although there remains an uncertainty in the market too. However, price is coming closer to the APEX of this triangle and there is a consecutive lower low structure in the RSI which means there might be a potential continuation occur in the near future.
The confirmation of buying position is whenever we see the price can breaks out of the upper line of this triangle pattern . A target must be at the swing high of current structure and the golden pocket zone. The stop loss must be as low as we can to produce a nice and profitable RR, that's why I'll put my SL under the $10500 ish to maintain a 2.4 RR which for me is still worth it.
Forwarded from ICO Drops - ICO News & Alerts
Justin Sun, BitTorrent, Trade War.
The Verge’s investigation reveals an attempt to use decentralization to escape accountability from both the US and Chinese governments.
https://www.theverge.com/21459906/bittorrent-tron-acquisition-justin-sun-us-china
The Verge’s investigation reveals an attempt to use decentralization to escape accountability from both the US and Chinese governments.
https://www.theverge.com/21459906/bittorrent-tron-acquisition-justin-sun-us-china
The Verge
The crypto millionaire that acquired BitTorrent—and waded into the trade war
The Verge’s investigation reveals an attempt to use decentralization to escape accountability from both the US and Chinese governments.
OnePoint Analysis
https://www.tradingview.com/x/cRjr2A65/
A revised triangle
If we zoom out to the higher time frame, you can see that there is a significant change here which giving us indication that the price is trending in more more boring consolidation pattern. You can see that even the price breaks below the previous micro consolidation, the mini consolidation is still having an important role for the price. If this holds true, there will be another potential 12 days more for the price to moves like this which in personal opinion, I really don't like this. Still the upper line of this triangle is the closest resistance trend line to hold the price and become a 'must break' resistance trend line.
The only good thing is that the price has already broken out from the 200 MA on the 4 hours chart which usually provide a huge bullish momentum. I hope that the price will respect this current 200 MA break out to maintain the momentum so we can see a spike higher to break out of the upper line of this resistance. Because if we don't see it, there will be another boring consolidation maximum in the next 12 days ahead.
https://www.tradingview.com/x/cRjr2A65/
A revised triangle
If we zoom out to the higher time frame, you can see that there is a significant change here which giving us indication that the price is trending in more more boring consolidation pattern. You can see that even the price breaks below the previous micro consolidation, the mini consolidation is still having an important role for the price. If this holds true, there will be another potential 12 days more for the price to moves like this which in personal opinion, I really don't like this. Still the upper line of this triangle is the closest resistance trend line to hold the price and become a 'must break' resistance trend line.
The only good thing is that the price has already broken out from the 200 MA on the 4 hours chart which usually provide a huge bullish momentum. I hope that the price will respect this current 200 MA break out to maintain the momentum so we can see a spike higher to break out of the upper line of this resistance. Because if we don't see it, there will be another boring consolidation maximum in the next 12 days ahead.
Last night more than 23,200 BTC were withdrawn from #BitMEX addresses in a single hour (~13% of all BTC in their vaults).
OnePoint at it again!
https://www.tradingview.com/x/WUN8MQVK/
Bitcoin : The proper count
Here is the current proper count from bitcoin if we look it at the lower time frame where the price is trending inside this triangle which makes all of my previous bias become the valid one. This micro consolidation will take place in the next several days ahead which potentially a lot of manipulative moves will occur.
The next crucial line which I've anticipated many time is the red line which is the 200 MA on the 4 hours time frame. Price wasn't able to breach this major dynamic resistance line at the previous trial and ends up being rejected which shows us the bullish momentum is slowly diminishing.
I'll of definitely see the blue region (prior swing low) as the strong support but when we see a breaks down of this triangle, I'll still see this as the closest range where the price will respect it as the short term relief rally to test again the $11000 range. After that, I'll expect further downside moves to the .382 fibonacci level where the strong support level is.
I can be so ignorant to not anticipate the .382 tap because it's the minimal zone to touch if we want a proper correction in the future. Beside, if you zoom out on the daily time frame, you'll see the the .382 fib level is moving very close with this fibonacci level.
https://www.tradingview.com/x/WUN8MQVK/
Bitcoin : The proper count
Here is the current proper count from bitcoin if we look it at the lower time frame where the price is trending inside this triangle which makes all of my previous bias become the valid one. This micro consolidation will take place in the next several days ahead which potentially a lot of manipulative moves will occur.
The next crucial line which I've anticipated many time is the red line which is the 200 MA on the 4 hours time frame. Price wasn't able to breach this major dynamic resistance line at the previous trial and ends up being rejected which shows us the bullish momentum is slowly diminishing.
I'll of definitely see the blue region (prior swing low) as the strong support but when we see a breaks down of this triangle, I'll still see this as the closest range where the price will respect it as the short term relief rally to test again the $11000 range. After that, I'll expect further downside moves to the .382 fibonacci level where the strong support level is.
I can be so ignorant to not anticipate the .382 tap because it's the minimal zone to touch if we want a proper correction in the future. Beside, if you zoom out on the daily time frame, you'll see the the .382 fib level is moving very close with this fibonacci level.
Forwarded from Edward Morra
💭Few thoughts about airdrops
There are a lot of airdrops popping left and right recently. Of course, all of this was caused by legendary Uniswap airdrop. A lot of scammers and other bad actors trying to ride this hype wagon and creating a lot of airdrop projects. Usually, these are telegram channels where they allegedly handing out "free" tokens. Most of them are empty scams and won't be worth anything. Think about yourself, use your brain: in order for your free coins to be worth something - someone has to buy them off of you. Your sell is someone else's buy. This is a zero-sum game after all and given that some of these airdrop channels have 20k-30k members its just plain stupidity to assume that someone going to buy these coins that have $0 base value on the market.
There are exceptions of course, whose success feeds this whole airdrop hype movement. Projects like Uniswap (UNI) but don't even think about them here. This type of generous event happens once in a few years and cannot be predicted and then Uniswap is the real project generating huge amount of profits by having a real, working product. Uniswap is most important part of Defi ecosystem. So, forget about next Uniswap airdrop, at least forget finding it among these scammy projects.
🔹Furthermore, we have unique success stories like XIOT or MEME which airdrops were worth thousands of $ or even dozens of thousands $. But the thing about them is that barely anyone knew about them, it was airdropped to a close number of people, insiders and other "friends". Also, most didn't hold till their high $, most sold their coins right at the listing for some "peanuts".
🔹Lastly, we now have to talk about how you should act if you decide to engage with the rest 99,99% of cases. If you participate in any airdrop, then first of all - do NOT send them any money if they ask (example: send us some money to claim your airdrop or to cover fees associated with distributing, like in case with recent scam "wbtc"). Second of all, if you need to use an email for any reason, then use your disposable, empty email you have no registrations on. I think that was obvious. And lastly, know your risks and don't be scared too much: if they just ask you for your telegram name and erc20 address and nothing else except that, then no worries here, you can try it. Worst case scenario they will then ask you to send them crypto to claim but you just ignore and move on. Best case scenario, you get some airdrop that might or might not worth some $.
Share to your friends, please. Keep your money yours. Stay safe out there!
There are a lot of airdrops popping left and right recently. Of course, all of this was caused by legendary Uniswap airdrop. A lot of scammers and other bad actors trying to ride this hype wagon and creating a lot of airdrop projects. Usually, these are telegram channels where they allegedly handing out "free" tokens. Most of them are empty scams and won't be worth anything. Think about yourself, use your brain: in order for your free coins to be worth something - someone has to buy them off of you. Your sell is someone else's buy. This is a zero-sum game after all and given that some of these airdrop channels have 20k-30k members its just plain stupidity to assume that someone going to buy these coins that have $0 base value on the market.
There are exceptions of course, whose success feeds this whole airdrop hype movement. Projects like Uniswap (UNI) but don't even think about them here. This type of generous event happens once in a few years and cannot be predicted and then Uniswap is the real project generating huge amount of profits by having a real, working product. Uniswap is most important part of Defi ecosystem. So, forget about next Uniswap airdrop, at least forget finding it among these scammy projects.
🔹Furthermore, we have unique success stories like XIOT or MEME which airdrops were worth thousands of $ or even dozens of thousands $. But the thing about them is that barely anyone knew about them, it was airdropped to a close number of people, insiders and other "friends". Also, most didn't hold till their high $, most sold their coins right at the listing for some "peanuts".
🔹Lastly, we now have to talk about how you should act if you decide to engage with the rest 99,99% of cases. If you participate in any airdrop, then first of all - do NOT send them any money if they ask (example: send us some money to claim your airdrop or to cover fees associated with distributing, like in case with recent scam "wbtc"). Second of all, if you need to use an email for any reason, then use your disposable, empty email you have no registrations on. I think that was obvious. And lastly, know your risks and don't be scared too much: if they just ask you for your telegram name and erc20 address and nothing else except that, then no worries here, you can try it. Worst case scenario they will then ask you to send them crypto to claim but you just ignore and move on. Best case scenario, you get some airdrop that might or might not worth some $.
Share to your friends, please. Keep your money yours. Stay safe out there!
Forwarded from Cryptorhythms Official
Brave New Coin
What is an NFT - and why did one sell for USD69 million? » Brave New Coin
In NFT news, NFT platform token prices are hitting all time highs - so what are NFTs or Non Fungible Tokens, and why is there so much interest in this growing crypto category?
Forwarded from Plutus Capital
There are a couple of solid patterns on the high time frame that points to price continuing down which we've already covered and will cover more later.
However, we can look at the 1H time frame and see where another shorting opportunity can be had. It may seem frustrating that price keeps climbing after every dump but remember that our main support is below $1000 and to break that we need as much power as possible.
We need all the longs we can get with their stops and liquidation prices down to $10000 and below. The most important things is to have price climb up in a bearish pattern and that's what we seem to be forming.
Most times we either form a rising wedge which were currently seeing, a rising channel (which sometimes tricky to play out) and a head and shoulders pattern which takes a while to form.
Based on the current rising wedge, we may see price top out around high $10600 to early or mid $10700 before finally dropping and not recovering for a while.
Patience matters and long scalps can be taken until we top out. To be safe, longs should be avoided and only shorts considered.
https://www.tradingview.com/x/IXM2F1ma/
However, we can look at the 1H time frame and see where another shorting opportunity can be had. It may seem frustrating that price keeps climbing after every dump but remember that our main support is below $1000 and to break that we need as much power as possible.
We need all the longs we can get with their stops and liquidation prices down to $10000 and below. The most important things is to have price climb up in a bearish pattern and that's what we seem to be forming.
Most times we either form a rising wedge which were currently seeing, a rising channel (which sometimes tricky to play out) and a head and shoulders pattern which takes a while to form.
Based on the current rising wedge, we may see price top out around high $10600 to early or mid $10700 before finally dropping and not recovering for a while.
Patience matters and long scalps can be taken until we top out. To be safe, longs should be avoided and only shorts considered.
https://www.tradingview.com/x/IXM2F1ma/
The news below are becoming current trend in the crypto universe right now. We can see that there are a lot of opinions in the market about the potential long term movement. However, as the same stakeholder like them, I have to respect all of the opinion from them. They can be right and I can be wrong as well you know in this market that even the best trader in this universe can be wrong too.
Based on my opinion, I see this US charged to the BITMEX can give both good and bad effect for the bitcoin. From the good side, I see that this is a good step to minimalize the money laundering in the crypto market which will increase the belief from the powerful side such as government and the banking system that the crypto is becoming more and more transparent so it can cause more adoption toward crypto product in the future.
On the bad perspective, we have to remember the the real essential purpose of why bitcoin was created is the privacy. In the next upcoming year, I see that the privacy will become the most important element from most of the people in this world. The privacy thing will become the most important aspect of life that people want to reach. With this pressure from the government to keep the essence of the transparency on the blockchain project, this will become the backfire to the crypto itself. It will eliminate the original purpose of the bitcoin and other crypto which is privacy.
As a trader, I still see this as the normal pros and cons on every developed asset especially on the long accumulation and distribution phase in the market. However, we'll finally find the middle way of current pros and cons appear in the market.
NEWS 1
https://www.wsj.com/articles/bitmex-founders-charged-in-indictment-that-says-they-flouted-u-s-rules-11601579782
NEWS 2
https://zycrypto.com/markets-disaster-nearly-40000-btc-withdrawn-from-bitmex/
Based on my opinion, I see this US charged to the BITMEX can give both good and bad effect for the bitcoin. From the good side, I see that this is a good step to minimalize the money laundering in the crypto market which will increase the belief from the powerful side such as government and the banking system that the crypto is becoming more and more transparent so it can cause more adoption toward crypto product in the future.
On the bad perspective, we have to remember the the real essential purpose of why bitcoin was created is the privacy. In the next upcoming year, I see that the privacy will become the most important element from most of the people in this world. The privacy thing will become the most important aspect of life that people want to reach. With this pressure from the government to keep the essence of the transparency on the blockchain project, this will become the backfire to the crypto itself. It will eliminate the original purpose of the bitcoin and other crypto which is privacy.
As a trader, I still see this as the normal pros and cons on every developed asset especially on the long accumulation and distribution phase in the market. However, we'll finally find the middle way of current pros and cons appear in the market.
NEWS 1
https://www.wsj.com/articles/bitmex-founders-charged-in-indictment-that-says-they-flouted-u-s-rules-11601579782
NEWS 2
https://zycrypto.com/markets-disaster-nearly-40000-btc-withdrawn-from-bitmex/
WSJ
BitMEX Co-Founders Charged With U.S. Rules Violations
Four executives of one of the world’s largest exchanges for trading cryptocurrency derivatives have been charged with violating U.S. anti-money-laundering rules as authorities ramp up enforcement efforts.
Forwarded from Plutus Capital
Let's talk about neutral patterns. A symmetrical triangle is a neutral pattern, meaning it is inherently neither bearish nor bullish, which means price can break above or below it. So in such situations that we have a symmetrical triangle, we need more data to be able to forecast where price might break out of.
This is the 4H chart for BTC and we have a symmetrical triangle formation. We can know the chances of price breaking up or down based on the previous trend before the symmetrical triangle was formed.
In this case the trend was and is still down from $12500 before the formation of the symmetrical triangle, and since the symmetrical triangle is a continuation pattern, price would most likely continue its trend by breaking down from the triangle. If the triangle was however formed after a move up, then we'd expect price to continue and break up.
Based on statistics, there is a 16% chance that price will go in the opposite direction of the trend in a symmetrical triangle but fortunately we don't have to worry much about that because we have another bearish pattern inside of the symmetrical triangle.
This is the ascending channel, which is also mostly a bearish channel. There is the upper half and lower half of the channel and price is currently stuck below the lower half of the channel, which confirms the bearish narrative.
So we have two potential bearish patterns on the 4H time frame, together with multiple moving averages serving as resistance on higher time frames, the idea that price will continue lower is still valid.
Price has two paths now, either we begin falling from current prices or we make a last touch of the ascending channel mid-line before falling. Whatever be the case, the bearish narrative is stronger than before and we may have a long bearish winter season ahead of us.
October is deemed one of the bullish months for BTC, this time might be different. Is there a chance we can break out above the symmetrical triangle and trend higher? Yes there is but even then we'd have to make firm volume backed candle closes above certain price levels which we'll cover next.
Shorts are still favored over longs.
https://www.tradingview.com/x/0MTQVs1o/
This is the 4H chart for BTC and we have a symmetrical triangle formation. We can know the chances of price breaking up or down based on the previous trend before the symmetrical triangle was formed.
In this case the trend was and is still down from $12500 before the formation of the symmetrical triangle, and since the symmetrical triangle is a continuation pattern, price would most likely continue its trend by breaking down from the triangle. If the triangle was however formed after a move up, then we'd expect price to continue and break up.
Based on statistics, there is a 16% chance that price will go in the opposite direction of the trend in a symmetrical triangle but fortunately we don't have to worry much about that because we have another bearish pattern inside of the symmetrical triangle.
This is the ascending channel, which is also mostly a bearish channel. There is the upper half and lower half of the channel and price is currently stuck below the lower half of the channel, which confirms the bearish narrative.
So we have two potential bearish patterns on the 4H time frame, together with multiple moving averages serving as resistance on higher time frames, the idea that price will continue lower is still valid.
Price has two paths now, either we begin falling from current prices or we make a last touch of the ascending channel mid-line before falling. Whatever be the case, the bearish narrative is stronger than before and we may have a long bearish winter season ahead of us.
October is deemed one of the bullish months for BTC, this time might be different. Is there a chance we can break out above the symmetrical triangle and trend higher? Yes there is but even then we'd have to make firm volume backed candle closes above certain price levels which we'll cover next.
Shorts are still favored over longs.
https://www.tradingview.com/x/0MTQVs1o/
Forwarded from Plutus Capital
Looking at a different scenario on the 8H chart, we can see the possibility of price breaking out above and trending higher. Even with this idea, which is highly unlikely, there are many factors to consider.
On the 8H picture we still have a bear flag which is also another bearish pattern. Bears flags are formed when price breaks down and then starts forming and ascending channel.
This means even with the situation where price breaks up, it needs to invalidate the bear flag on the 8H chart. The most important level is the $11400 red resistance zone. Price needs to close 8H to daily candles above this level with strong volume.
After that price then has a chance of moving higher. If price gets to the resistance zone, it can get rejected, fall back below the mid-line for the ascending channel and then drop lower.
In conclusion, we so far know that to our knowledge, bulls have one path to invalidate about three bearish patterns before having a chance for new highs. The ideal path is to first drop, accumulate or consolidate before finally climbing back up to new highs and that's what we expect to happen.
https://www.tradingview.com/x/LtYwsNUD/
On the 8H picture we still have a bear flag which is also another bearish pattern. Bears flags are formed when price breaks down and then starts forming and ascending channel.
This means even with the situation where price breaks up, it needs to invalidate the bear flag on the 8H chart. The most important level is the $11400 red resistance zone. Price needs to close 8H to daily candles above this level with strong volume.
After that price then has a chance of moving higher. If price gets to the resistance zone, it can get rejected, fall back below the mid-line for the ascending channel and then drop lower.
In conclusion, we so far know that to our knowledge, bulls have one path to invalidate about three bearish patterns before having a chance for new highs. The ideal path is to first drop, accumulate or consolidate before finally climbing back up to new highs and that's what we expect to happen.
https://www.tradingview.com/x/LtYwsNUD/
Forwarded from Plutus Capital
Like we said in our indebth price analysis for XRP/USD, our total take profit was at $0.22 and we did take all profit there because definitely we would expect some bullish reaction.
We realized XRP had the potential of forming some inverse head and shoulders patterns so it was better to take profit and watch the market.
This is the daily time frame and as we can see, we even have a potential inverse head and shoulders forming which could take price to our 3-Day resistance at $0.28.
Weekly close is a few hours away and if bulls can manage to close the week above $0.24, then there is a high chance of testing $0.258 (Monthly Crucial Point) and then $0.28.
So far things are starting to look good for XRP. And it also looks like all of the price action above $0.22 here is forming the right shoulder of the possible inverse head and shoulders on the weekly.
For now XRP is one of the major coins to give some bullish hope and this may mean more green days for the other major assets. BTC and ETH are still showing very bearish signs but with their weekly closes approaching, things may turn around.
We're cautiously considering bullishness for XRP and may consider looking for longs for a short term price appreciation to $0.258 and $0.28. But we're definitely not out of the woods yet.
https://www.tradingview.com/x/85xWUG72/
We realized XRP had the potential of forming some inverse head and shoulders patterns so it was better to take profit and watch the market.
This is the daily time frame and as we can see, we even have a potential inverse head and shoulders forming which could take price to our 3-Day resistance at $0.28.
Weekly close is a few hours away and if bulls can manage to close the week above $0.24, then there is a high chance of testing $0.258 (Monthly Crucial Point) and then $0.28.
So far things are starting to look good for XRP. And it also looks like all of the price action above $0.22 here is forming the right shoulder of the possible inverse head and shoulders on the weekly.
For now XRP is one of the major coins to give some bullish hope and this may mean more green days for the other major assets. BTC and ETH are still showing very bearish signs but with their weekly closes approaching, things may turn around.
We're cautiously considering bullishness for XRP and may consider looking for longs for a short term price appreciation to $0.258 and $0.28. But we're definitely not out of the woods yet.
https://www.tradingview.com/x/85xWUG72/
Forwarded from flocka
I'll be dropping an audio in a few minutes. Stay tuned.
Some OnePoint TA to accomodate
https://www.tradingview.com/x/vGa0dh8D/
The price is still trending inside this triangle which I've been anticipated and covered on my latest post about bitcoin. It's becoming the only pattern which I see is still valid. On the short term, the price has been trending in this structure since last month.
There is still the same perspective with my previous update and post. Currently, the price has already completed the potential E wave. Price is still trending closer to the APEX with a lower volatility over time. On the RSI, there isn't any confirmation yet with the RSI is still trending at the neutral zone between 40 and 60 level.
We must be patiently waiting at the moment until the price give us any type of confirmation. In the next 7 days will become a very crucial moment for the bitcoin.
https://www.tradingview.com/x/vGa0dh8D/
The price is still trending inside this triangle which I've been anticipated and covered on my latest post about bitcoin. It's becoming the only pattern which I see is still valid. On the short term, the price has been trending in this structure since last month.
There is still the same perspective with my previous update and post. Currently, the price has already completed the potential E wave. Price is still trending closer to the APEX with a lower volatility over time. On the RSI, there isn't any confirmation yet with the RSI is still trending at the neutral zone between 40 and 60 level.
We must be patiently waiting at the moment until the price give us any type of confirmation. In the next 7 days will become a very crucial moment for the bitcoin.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
Audio
Side note, this will activate bullish scenarios for XRP too
How irresponsible of me, for the past few days my eth address has had transactions. Surprisingly not mine. Looks like I have been locked out of my own wallet because of poor protection. Let this be a lesson for all of you. Even if the wallet is empty, keep it safe. Someone can use it for something fishy.
Let me break it down. I was the mnemonic guy so that with MetaMask password worked out well. Looks like the MetaMask password was changed.🤦🏻♂️
Thank you for all the lovely messages but yeah it's a lesson learnt the hard way.
Thank you for all the lovely messages but yeah it's a lesson learnt the hard way.