πŸ’ŽElite Crypto InvestorsπŸ’Ž (Solid Signals and News Update)
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Coin ~ ADA
Exchange : BITTREX
BUY : 20
SELL : 26 AND ABOVE
πŸ“ˆBTC Monthly: Bullish Engulfing Pattern?πŸ“ˆ

As you can see on the 1M chart below, the smaller red candle is overshadowed by the larger green candle as we approach the monthly close tomorrow.

BTC opened the month and moved lower than the previous monthly close. Bulls stepped in however, and began to buy the dip which pushed the price higher at the close of last month. As we've discussed, bullish sentiment has taken overπŸ“Š

So is this a bullish engulfing pattern?

Kind of...technically an englufing pattern doesn't require the entire range to engulf the bearish candle (the wicks) however most proponents of the pattern will tell you that it's stronger when the entire pattern (body and wicks) engulfs the bearish candle.

Why is this important?

A bullish engulfing pattern indicates a potential reversal of community sentiment . It's a very important candlestick pattern because it points to a trend reveralπŸ“ˆ

In order to be valid, the market must be in a clearly defined downtrend, include a bearish candle followed by a bullish candle, and the bullish candle must engulf the entire body of the bearish candle - all this criteria has been metβœ…

Whether you care about the candlestick pattern or not, the monthly candle looks very bullish for continued upside, though we're hoping for more consolidation.

Though shorter term we expect some downside back to the mid/low $7ks, the monthly looks very strong, if volume continues to increase so will the price πŸ”₯

BTC Volatility

The Bitcoin Historical Volatility Index is showing that BTC volatility is at it's lowest point in a few weeks and each time it has hit this range we've seen volatility increase. We expect a decent candle from Bitcoin today. Most short term analysis we've done is pointing to downside, so we'll close this long in the profit by moving our stoploss up and setting lower long bids as indicatedπŸ‘Š
BTC UPDATE. I’m seeing the following path on BTC as possible. An overall drop to 7600’s (right in our stops area) and then a possible stop hunt before a run. We could run up from here. Fact is we are at the mercy of the market makers and they don’t like to make heir intentions known. https://www.tradingview.com/x/4JETAq1F/
BTC UPDATE 1HR CHART: Possible BTC path over next few hours/days: BTC may be establishing a downward channel as per the following chart. If we bounce out of the channel, I think we will bounce back up at some point. I will be looking to buy in as soon as we can come close to the bottom of the channel, anywhere from 7650 to 7715. Smaller positions at the higher buy ins, larger position at the lower buy ins. https://www.tradingview.com/x/nKzg5fGQ/
BTC UPDATE: BTC is in an upward channel which may or may not be invalidated today. There seems to be some downward pressure, but the ETF news does still add bullishness to the equation, so we could go either way depending on how the market makers want to push the price. https://www.tradingview.com/x/9sTBcsnp/
🚨OKEx liquidation and ETH/USD Bitmex🚨

An important situation is unfolding at OKEx, one of the top crypto exchanges in terms of daily volume. The number one contract holder at OKEx had accumulated a $460 million long position before he was liquidated πŸ“‰on July 31st. While this is astonishing in its own right being such a massive position to be liquidated, the main issue with the current situation is that that the liquidation did not get filled in the market. There is now a $420 million overhang waiting to be filled just above $8000.

OKEx will be coming out with their decision on how to handle the recent liquidation at 4:00pm Hong Kong time tomorrow. ⏳

Currently OKEx has 10 btc in their insurance fund, which is used to reconcile situations like the current one. Unfortunately the liquidation has resulted in a 950 btc loss. Since their insurance fund clearly doesn’t cover the loss, OKEx will have to make a decision on how to reconcile the liquidation sitting on their books.

If BTC’s price can’t climb back above 8k to fill the liquidations, then the massive wall will have to be dealt with by using a clawback. A clawback would entail that shorters have to use their profits to pay for the liquidation. This likely outcomes that will occur if a clawback takes place are: OKEx users will become extremely disgruntled πŸ˜ͺand move to different trading platforms and shorters will close their positions as they do not want to be held responsible for the payback procedure.

This is yet another interesting development in the crypto space. We are not sure as of this point what effect it will have on the market if any but will be awaiting announcement from the OKEx team.

In other news, Bitmex, the leading daily $BTC volume exchange, will now be offer ETHUSD 50x swaps and ETH/BTC 50x future trading options. This offering will be the first altcoin that the Bitmex platform enables you to use USD as a trading pair. Bitmex has quickly become one of the best trading platforms in the space especially during this ongoing bear market and it looks to stay that way.
BREAKING: The SEC has extended the evaluation period for a rule change on the Cboe VanEck/SolidX Bitcoin ETF.
New trading opportunity!

https://www.tradingview.com/x/Hpi7LjlH/

You can short BTC again by following our chart. Entry area 6340-6350. Stop loss could be just above midbb h1 at 6365 but considering last peak that we saw you can move that stop loss above that peak ( 6395 ).

Targets are 6265 and lowbb currently around 6170.

If we don't see close above topbb m15 than I will be even more confident in this trade. You can follow that chart here: https://www.tradingview.com/x/3th3DFFr/

Good luck!
πŸ’ŽElite Crypto InvestorsπŸ’Ž (Solid Signals and News Update)
New trading opportunity! https://www.tradingview.com/x/Hpi7LjlH/ You can short BTC again by following our chart. Entry area 6340-6350. Stop loss could be just above midbb h1 at 6365 but considering last peak that we saw you can move that stop loss above…
I hope you made profit on this call. It reached lowbb h1 as I said, didnt close below and it was sign of bears losing strenght. Next candle did the sam in the first half hour and then we saw major pump.

I hope you booked some profit on lowbb h1 and moved stop loss to BE so you exited this trade in a profit.

I was off for some private things few hours and I am back and I will try to find new safe entry. Let's make some money!
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@JerrySim23
Bitcoin and other major cryptocurrencies are crashing in an unexplained and dramatic market crash. After weeks of steady gains, bitcoin dropped in price by more than $300 in the space of an hour on Wednesday morning, with all other cryptos following its lead.

Possible Reasons including but not limited to:

1. Silk Road Wallet Sell-Off.
2. Goldman Sachs Suspending Trading Desk Plans.
3. Flash sell-off of 200,000 ETH on Bitfinex augmenting the price crash.
4. CNBC Prediction Jinx.
5. Coordinated Sell-Off by the so called Whales
6. It may be Natural too and following TA (technical analysis).
#BTC daily

BTC is currently at daily and weekly support. I can see this area hold, little bit of consolidation and then bounce off from that area in beginning of 2019. If this area doesn't hold we will probably see new lows in first few weeks of 2019.

https://www.tradingview.com/x/XcVB4odx/