The news is 7 days old but since the Ethereum Classic didn't see major dump, we think that sharing now has a lot of value to ETC holders.
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A leading development firm behind Ethereum Classic (ETC) will be shutting down immediately. ETCDev had struggled to raise sufficient funds in order to continue its operations. The company, which had been in operation for two and a half years, said its financing issues partly stemmed from the crypto market downturn.
This is one of the issues that coins are facing with in this bear market. This is the reality of bear market. Coin holders are not the only that are facing with financial losses but also companies such as ETC Dev.
This is a warning for ETH holders. This is not a sell off action. This could be also manipulation by their team. This is just warning for you to take attention. Maybe solution could be to tight up your stop loss. It is up to you. We wanted to warn you because there is no point in holding coins that could go to zero.
Warn your friends too 🙏
https://twitter.com/etcdev/status/1069625401515872256?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1069625401515872256&ref_url=https%3A%2F%2Fcryptobriefing.com%2Fetcdev-ethereum-classic%2F
32
A leading development firm behind Ethereum Classic (ETC) will be shutting down immediately. ETCDev had struggled to raise sufficient funds in order to continue its operations. The company, which had been in operation for two and a half years, said its financing issues partly stemmed from the crypto market downturn.
This is one of the issues that coins are facing with in this bear market. This is the reality of bear market. Coin holders are not the only that are facing with financial losses but also companies such as ETC Dev.
This is a warning for ETH holders. This is not a sell off action. This could be also manipulation by their team. This is just warning for you to take attention. Maybe solution could be to tight up your stop loss. It is up to you. We wanted to warn you because there is no point in holding coins that could go to zero.
Warn your friends too 🙏
https://twitter.com/etcdev/status/1069625401515872256?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1069625401515872256&ref_url=https%3A%2F%2Fcryptobriefing.com%2Fetcdev-ethereum-classic%2F
Twitter
ETCDEV
Unfortunately ETCDEV cannot continue to work in the current situation and has to announce shutdown of our current activities
It is December 12th, 2018
BTC dominance is currently at 55.0% (+0.0%). The total market cap is currently at $109.5 billion (- $1.0 billion). The market volume of the last 24h was $12.7 billion (- $0.4 billion).
Fundamental side of the crypto market is still full of news about mainstream adoption, banks and similar things. We are not saying that it is not important but at the moment, these news are not affecting crypto market directly but indirectly that will be visible in the future. Mainstream adoption is slow proces but the proces that will positively affect the price in the future.
Technical analysis
Daily time frame : https://www.tradingview.com/x/QoQpCedm/
H4 time frame : https://www.tradingview.com/x/uXzPE8K4/
Considering these 2 charts, we are still in the middle of nowhere. We are too far from next weekly support at around 2900 but also we are too far from 3700-3800 area that will be bullish sign if gets crossed.
Now, at this moment we have few important price levels. First one is red line that is considered as the border between bullish and bearish area. Also, do now forget bullish divergance on daily time frame. Our 3300 level on h4 resisted all tests and still holding.
In general, the situation is not clear. We should wait for clear sign. The only clear sign is that opening swing short is not that smart idea at this price. It is better to wait for up move and to think of shorting after that move that could be even to 4500 area.
Once we decide to enter swing position, we are going to share with you!
To your success, CS Team!
BTC dominance is currently at 55.0% (+0.0%). The total market cap is currently at $109.5 billion (- $1.0 billion). The market volume of the last 24h was $12.7 billion (- $0.4 billion).
Fundamental side of the crypto market is still full of news about mainstream adoption, banks and similar things. We are not saying that it is not important but at the moment, these news are not affecting crypto market directly but indirectly that will be visible in the future. Mainstream adoption is slow proces but the proces that will positively affect the price in the future.
Technical analysis
Daily time frame : https://www.tradingview.com/x/QoQpCedm/
H4 time frame : https://www.tradingview.com/x/uXzPE8K4/
Considering these 2 charts, we are still in the middle of nowhere. We are too far from next weekly support at around 2900 but also we are too far from 3700-3800 area that will be bullish sign if gets crossed.
Now, at this moment we have few important price levels. First one is red line that is considered as the border between bullish and bearish area. Also, do now forget bullish divergance on daily time frame. Our 3300 level on h4 resisted all tests and still holding.
In general, the situation is not clear. We should wait for clear sign. The only clear sign is that opening swing short is not that smart idea at this price. It is better to wait for up move and to think of shorting after that move that could be even to 4500 area.
Once we decide to enter swing position, we are going to share with you!
To your success, CS Team!
December 2017 vs December 2018
It looks like there is something magical about December. Last year, it was the time of the biggest euphoria in the market and this year it is the time of the biggest panic in the market.
In this post, our team would like to go through this market cycle and give you an overview.
It all started in Mart-April 2017 when the spark of the bull market did happen. We tested all time high for the first time after almost 4 years. New all time was established but after that we got rejected. Price dropped to $800 area.
At that time, everybodies get excited about Bitcoin. They dreamed of $3000. At that time $5000 target would magical target.
It happened. June 2017 was the month when we reached $3000 but we was heavily rejected. Price dropped below $1800. The reason was Bitcoin hard fork. At that time, very few people understood the meaning of hard fork. They thought that Bitcoin will disappear since it is going to be splitted into 2 new coins. We were in the bear market, price dropped almost 40%. The panic was everywhere.
Then, all of a sudden, the market got information that these who hold Bitcoin are going to get new coin for "FREE". That was explaination of hardfork and the reason why Bitcoin rallied to new all time high all the way up to $5000. The magic target was reached in September.
New FUD. China is going to ban crypto trading. New drop!
This time price dropped from 5000 all the way down to $3000. It was one more time drop of 40% that happened in less than a week.
It was the time everybody was scared. China is one of the top world's countries. This was not joke or rumour. The ban actually happened. They banned crypto exchanges.
Did this stop the bull run?
You already know the answer. This was the last correction before the biggest bull run that happned so far. People were euphoric. Everybody was buying. USDT was printed almost every day. New money was coming.
These who targeted $5000 became greedy and started to target $10000. It happened. $10000 has been reached. They wanted more. They targeted $20000.
$20000 has been reached. They wanted more and they targeted $50000.
It was the time when common sense was out of the game. The greed was at all time high. I wish I bought at $5000 was the most used phrase. I wish....
The market reached $20000 and just few days after that we were testing $10 000.
People were hoping to see $20 000 again so they can book the profit. Price went to $17000 and dropped all the way down to $6000. Market was shocked. They were hoping for $15 000 so they can book the profit. Price went up to $12 000, they didn't sell and price dropped again. They started to hope for $12 000 to happen so they can book the profit. Market offered them $10 000 and they wanted more. Price dropped again. They started to hope for $10 000. Market offered them $8500, they wanted more! Price dropped again.
Magical $6000 area was holding for months. People were buying and accumulating. Price dropped again.
We were at $5500 and people were hoping for $6000 so they can sell and cut their losses. Price dropped again.
We are currently at $3400 and what is happening in the market? Everybody is talking about selling. Are there people that are buying? There are and a lot of them but they are silent. They have the reason why they do it. Twitter shillers are at its peak of bearish euphoria. They are calling $2700, $1100, $850, $100, 0.
Let me ask you a question: Do you see a pattern?
The current situation we have now is the same situation we had 12 months ago.
The same way they increased they target point for bull run, the same way they lower their target point for bear market. It will be happening until, until we see huge spike up.Same spike that ended bull market will end bear market. People will start hopping for double bottom so they can buy. Price will drop but wont make double bottom and they are going to miss the entry point. They will hope for double bottom again and again until price enters new bull run and until whole market becomes extra bullish again.
It looks like there is something magical about December. Last year, it was the time of the biggest euphoria in the market and this year it is the time of the biggest panic in the market.
In this post, our team would like to go through this market cycle and give you an overview.
It all started in Mart-April 2017 when the spark of the bull market did happen. We tested all time high for the first time after almost 4 years. New all time was established but after that we got rejected. Price dropped to $800 area.
At that time, everybodies get excited about Bitcoin. They dreamed of $3000. At that time $5000 target would magical target.
It happened. June 2017 was the month when we reached $3000 but we was heavily rejected. Price dropped below $1800. The reason was Bitcoin hard fork. At that time, very few people understood the meaning of hard fork. They thought that Bitcoin will disappear since it is going to be splitted into 2 new coins. We were in the bear market, price dropped almost 40%. The panic was everywhere.
Then, all of a sudden, the market got information that these who hold Bitcoin are going to get new coin for "FREE". That was explaination of hardfork and the reason why Bitcoin rallied to new all time high all the way up to $5000. The magic target was reached in September.
New FUD. China is going to ban crypto trading. New drop!
This time price dropped from 5000 all the way down to $3000. It was one more time drop of 40% that happened in less than a week.
It was the time everybody was scared. China is one of the top world's countries. This was not joke or rumour. The ban actually happened. They banned crypto exchanges.
Did this stop the bull run?
You already know the answer. This was the last correction before the biggest bull run that happned so far. People were euphoric. Everybody was buying. USDT was printed almost every day. New money was coming.
These who targeted $5000 became greedy and started to target $10000. It happened. $10000 has been reached. They wanted more. They targeted $20000.
$20000 has been reached. They wanted more and they targeted $50000.
It was the time when common sense was out of the game. The greed was at all time high. I wish I bought at $5000 was the most used phrase. I wish....
The market reached $20000 and just few days after that we were testing $10 000.
People were hoping to see $20 000 again so they can book the profit. Price went to $17000 and dropped all the way down to $6000. Market was shocked. They were hoping for $15 000 so they can book the profit. Price went up to $12 000, they didn't sell and price dropped again. They started to hope for $12 000 to happen so they can book the profit. Market offered them $10 000 and they wanted more. Price dropped again. They started to hope for $10 000. Market offered them $8500, they wanted more! Price dropped again.
Magical $6000 area was holding for months. People were buying and accumulating. Price dropped again.
We were at $5500 and people were hoping for $6000 so they can sell and cut their losses. Price dropped again.
We are currently at $3400 and what is happening in the market? Everybody is talking about selling. Are there people that are buying? There are and a lot of them but they are silent. They have the reason why they do it. Twitter shillers are at its peak of bearish euphoria. They are calling $2700, $1100, $850, $100, 0.
Let me ask you a question: Do you see a pattern?
The current situation we have now is the same situation we had 12 months ago.
The same way they increased they target point for bull run, the same way they lower their target point for bear market. It will be happening until, until we see huge spike up.Same spike that ended bull market will end bear market. People will start hopping for double bottom so they can buy. Price will drop but wont make double bottom and they are going to miss the entry point. They will hope for double bottom again and again until price enters new bull run and until whole market becomes extra bullish again.
If you had goal to buy Bitcoin at $3000, then buy it once it happens. Do not lower it just because it dropped to $2900. You have to realise that you are buying Bitcoin 85% below all time high. If that is not enough for you, keep hoping and miss the bull run again.
Follow the crowd and do the opposite!
The reason for this post was to help you understand the current market situation. Where are we currently, where we had been and where we could be in future. Emotions are leading most of the decisions and that's why we have people that bought at $5000 last year, they didn't want to see all the way up, they didn't want to sell all the way down and they are selling now at $3500. Maybe we are wrong, maybe Bitcoin is going to die, but if you believe it is not going to happen, then find your entry points right now and once it happens, do not lower them because once big spike up happens, it is not going to offer you second chance.
To your success, CS Team!
Follow the crowd and do the opposite!
The reason for this post was to help you understand the current market situation. Where are we currently, where we had been and where we could be in future. Emotions are leading most of the decisions and that's why we have people that bought at $5000 last year, they didn't want to see all the way up, they didn't want to sell all the way down and they are selling now at $3500. Maybe we are wrong, maybe Bitcoin is going to die, but if you believe it is not going to happen, then find your entry points right now and once it happens, do not lower them because once big spike up happens, it is not going to offer you second chance.
To your success, CS Team!
Cryptocurrency market cap
The entire market cap is currently is very important support area. This area looks the most serious below $200 billion.
If this area doesn't hold, next one is around $60 billion.
As long as we are below $150 billion market cap, the bearish market is still very strong.
The end of bearish market would be market cap above $200 billion.
One more confirmation we could look for as the end of bear market is close above this blue line that is EMA 50 and that is used for trend direction. If the price of an asset is below the exponential moving average (EMA) 50, the trend is considered as bearish. If the price is above, the trend is considered bullish.
These are 2 signs we are waiting to say the end of bear market is here. Currently, we are TOO far from them.
So, to conclude, the cryptocurrency market cap is currently in major support area. Next supports are at $90 billion (average one), $60 billion (stronger) and after that we do not have support all the way down to $10 billion.
Here is an overview of the entire market cap:https://www.tradingview.com/x/Cooe73OW/
The entire market cap is currently is very important support area. This area looks the most serious below $200 billion.
If this area doesn't hold, next one is around $60 billion.
As long as we are below $150 billion market cap, the bearish market is still very strong.
The end of bearish market would be market cap above $200 billion.
One more confirmation we could look for as the end of bear market is close above this blue line that is EMA 50 and that is used for trend direction. If the price of an asset is below the exponential moving average (EMA) 50, the trend is considered as bearish. If the price is above, the trend is considered bullish.
These are 2 signs we are waiting to say the end of bear market is here. Currently, we are TOO far from them.
So, to conclude, the cryptocurrency market cap is currently in major support area. Next supports are at $90 billion (average one), $60 billion (stronger) and after that we do not have support all the way down to $10 billion.
Here is an overview of the entire market cap:https://www.tradingview.com/x/Cooe73OW/
It is December 13th, 2018
BTC dominance is currently at 54.9% (-0.1%). The total market cap is currently at $109.1 billion (- $0.4 billion). The market volume of the last 24h was $11.0 billion (- $1.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/IKyzHJK0/
Hourly time frame : https://www.tradingview.com/x/0g0G3QLO/
Starting from daily time frame, we see that there is still no sign of the next major swing move. It is still very tight around 3400 price level. What we are waiting is solid close on daily above recent swing low (red horizontal line at 3430). The close above would indicate potential up move.
Considering volume as one of the most important warning indicators and indicators that could be used for confirmation we can see consistent decline day after day. If price is making new lows, but volume is struggling to make new highs, we are talking about bullish divergance. New low has to be followed by increase in volume. If that doesn't happen, it means that selling power is not that strong and we may face with reversal.
As long as we are below 3500 on daily, we are still bearish on Bitcoin. The daily close above 3430 would give us first sign but it has to be confirmed by up move and then we would turn bullish in short-term on BTC targeting 3900 and 4500 price level.
On the hourly chart, our team spotted triangle that is in development. The move outside of this triangle would probably be sign of next swing move. It could be either up or down move because we saw rejections by both sides and that's the reason we are still sitting back and waiting for clear breakout or breakdown and on retest we will considering opening a trade.
When it isn't clear situation, it is better to sit back and wait for clear sign. Exposing money to this market can ruin your account significantly since we see the fakeouts in both directions.
To your success, CS Team!
BTC dominance is currently at 54.9% (-0.1%). The total market cap is currently at $109.1 billion (- $0.4 billion). The market volume of the last 24h was $11.0 billion (- $1.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/IKyzHJK0/
Hourly time frame : https://www.tradingview.com/x/0g0G3QLO/
Starting from daily time frame, we see that there is still no sign of the next major swing move. It is still very tight around 3400 price level. What we are waiting is solid close on daily above recent swing low (red horizontal line at 3430). The close above would indicate potential up move.
Considering volume as one of the most important warning indicators and indicators that could be used for confirmation we can see consistent decline day after day. If price is making new lows, but volume is struggling to make new highs, we are talking about bullish divergance. New low has to be followed by increase in volume. If that doesn't happen, it means that selling power is not that strong and we may face with reversal.
As long as we are below 3500 on daily, we are still bearish on Bitcoin. The daily close above 3430 would give us first sign but it has to be confirmed by up move and then we would turn bullish in short-term on BTC targeting 3900 and 4500 price level.
On the hourly chart, our team spotted triangle that is in development. The move outside of this triangle would probably be sign of next swing move. It could be either up or down move because we saw rejections by both sides and that's the reason we are still sitting back and waiting for clear breakout or breakdown and on retest we will considering opening a trade.
When it isn't clear situation, it is better to sit back and wait for clear sign. Exposing money to this market can ruin your account significantly since we see the fakeouts in both directions.
To your success, CS Team!
It is December 14th, 2018
BTC dominance 54.9% (+0.0%). The total market cap is currently at $105.2 billion (- $3.9 billion). The market volume of the last 24h was $12.0 billion (+ $1.0 billion).
Fundamental analysis
Europe Takes Serious Steps Towards Blockchain Adoption
https://cointelegraph.com/news/europe-takes-serious-steps-towards-blockchain-adoption
German Stock Exchange Giant to Launch Crypto Trading — How it Will Affect the European Market
https://www.ccn.com/german-stock-exchange-giant-to-launch-crypto-trading-how-it-will-affect-the-european-market/
Fundstrat’s Tom Lee Says Fair Value of Bitcoin to Reach $150K Per Coin
https://cointelegraph.com/news/fundstats-tom-lee-says-fair-value-of-bitcoin-to-reach-150k-per-coin
Technical analysis
Daily time frame : https://www.tradingview.com/x/6NdzrQVg/
4H time frame : https://www.tradingview.com/x/IAfGLDvy/
Starting with daily time frame, we saw rejection by 3430 (last swing low) that caused price to drop under 3200.
Again the volume is still down and we do not see any major selling activity. We do not see buying activity too but indecision in the bear market could lead to reversal and it did many times.
On 4H time frame, we broke down from the triangle but I would not short it here. Simply close to major weekly resistance I would not open major swing position. Scalping is okay and it is not affected by larger time frames but mainly by low time frames but again if you decide to scalp, make sure your stop loss is tight. Trading with wide stop loss is kinda risky at the moment.
Our team will think of shorting once price approaches 2 major resistances (3900 or 4500). Before that, shorting seems like buying Bitcoin in December 2017 and sooner or later that big spike will happen and all wide stop losses will be filled way higher and make serios damage to your account.
To your success, CS Team!
BTC dominance 54.9% (+0.0%). The total market cap is currently at $105.2 billion (- $3.9 billion). The market volume of the last 24h was $12.0 billion (+ $1.0 billion).
Fundamental analysis
Europe Takes Serious Steps Towards Blockchain Adoption
https://cointelegraph.com/news/europe-takes-serious-steps-towards-blockchain-adoption
German Stock Exchange Giant to Launch Crypto Trading — How it Will Affect the European Market
https://www.ccn.com/german-stock-exchange-giant-to-launch-crypto-trading-how-it-will-affect-the-european-market/
Fundstrat’s Tom Lee Says Fair Value of Bitcoin to Reach $150K Per Coin
https://cointelegraph.com/news/fundstats-tom-lee-says-fair-value-of-bitcoin-to-reach-150k-per-coin
Technical analysis
Daily time frame : https://www.tradingview.com/x/6NdzrQVg/
4H time frame : https://www.tradingview.com/x/IAfGLDvy/
Starting with daily time frame, we saw rejection by 3430 (last swing low) that caused price to drop under 3200.
Again the volume is still down and we do not see any major selling activity. We do not see buying activity too but indecision in the bear market could lead to reversal and it did many times.
On 4H time frame, we broke down from the triangle but I would not short it here. Simply close to major weekly resistance I would not open major swing position. Scalping is okay and it is not affected by larger time frames but mainly by low time frames but again if you decide to scalp, make sure your stop loss is tight. Trading with wide stop loss is kinda risky at the moment.
Our team will think of shorting once price approaches 2 major resistances (3900 or 4500). Before that, shorting seems like buying Bitcoin in December 2017 and sooner or later that big spike will happen and all wide stop losses will be filled way higher and make serios damage to your account.
To your success, CS Team!
Cointelegraph
Europe Takes Serious Steps Toward Blockchain Adoption
After months of monitoring and observing the potential of blockchain, EU is finally making a turn into it
This is not news outlet from big media sites. This is you tube video that uncover what is happening behind the scene. How the people (in this example you tubers) that are spreading the truth are being shadow banned.
This is all part of one big game. Game that is played for those that want to gain control over crypto market. The game that caused all this blood on the street in the last few months.
Do not be just a Moon guy that is talking about coins that are going to moon. The moon will happen once they gain control over the cryptocurrency market. They do not have problem with crypto but with the opportunities that crypto offers to the people. Once they gain control over the market, once they own enough to be able to control it, we may expect mainstream adoption and new moon prices.
The stock market is controlled but it is still the largest market worth more than $70 trillions. So, gaining control in term of price has more positive impact than negative. They need blockchain and that's why they do not want to ban it. If they do not want blockchain, we would be already banned. That's why they want control over it and then we may expect the best days in term of growth.
But, it is not going to happen today nor tomorrow. It is going to take time. Because of that, the majority of coins are going to die. That's the worst consequence of this bear market. Not only shitcoins but also good project that will run out of cash. ICOs that raised $20-30 million in ETH are going to die once they run out of money. The reason is that the majority of them sold ETH close to the bottom and these $20-30 in best case are worth $4-5 million. You have to know that the part is already spent so the majority of them are having $1-3 million for everything (developemtn of the project, paying the team...)
If this bear market continues through 2019, the majority will become the history.
So, our team advice you to double check your portfolio. It is still not too late. Maybe you are holding coin that made you 90% loss but other coins are done also 90% or so. You still have time to double check if the project has potential to survive this bear market. If not, sell the coins and buy these with more potential. You are not accepting you loss but just moving the money to project with more chance of surviving because it is clear not all of them are going to survive.
It is not the end of cryptocurrency market, but it is going to be the end of a lot of coins that will run out of money. Be wise and make sure you are holding coins with potential to survive and grow after this bear market.
https://www.youtube.com/watch?v=EIbX0mP6wVk&feature=youtu.be
This is all part of one big game. Game that is played for those that want to gain control over crypto market. The game that caused all this blood on the street in the last few months.
Do not be just a Moon guy that is talking about coins that are going to moon. The moon will happen once they gain control over the cryptocurrency market. They do not have problem with crypto but with the opportunities that crypto offers to the people. Once they gain control over the market, once they own enough to be able to control it, we may expect mainstream adoption and new moon prices.
The stock market is controlled but it is still the largest market worth more than $70 trillions. So, gaining control in term of price has more positive impact than negative. They need blockchain and that's why they do not want to ban it. If they do not want blockchain, we would be already banned. That's why they want control over it and then we may expect the best days in term of growth.
But, it is not going to happen today nor tomorrow. It is going to take time. Because of that, the majority of coins are going to die. That's the worst consequence of this bear market. Not only shitcoins but also good project that will run out of cash. ICOs that raised $20-30 million in ETH are going to die once they run out of money. The reason is that the majority of them sold ETH close to the bottom and these $20-30 in best case are worth $4-5 million. You have to know that the part is already spent so the majority of them are having $1-3 million for everything (developemtn of the project, paying the team...)
If this bear market continues through 2019, the majority will become the history.
So, our team advice you to double check your portfolio. It is still not too late. Maybe you are holding coin that made you 90% loss but other coins are done also 90% or so. You still have time to double check if the project has potential to survive this bear market. If not, sell the coins and buy these with more potential. You are not accepting you loss but just moving the money to project with more chance of surviving because it is clear not all of them are going to survive.
It is not the end of cryptocurrency market, but it is going to be the end of a lot of coins that will run out of money. Be wise and make sure you are holding coins with potential to survive and grow after this bear market.
https://www.youtube.com/watch?v=EIbX0mP6wVk&feature=youtu.be
YouTube
I AM BEING SILENCED & RIDICULED! (Watch before its DELETED!)
I AM BEING SILENCED & RIDICULED (Watch before its DELETED!) #bitcoin #cryptocurrency #crypto
Bitcoin Weekly Update
This was our weeklt update few months ago: https://www.tradingview.com/chart/XBTUSD/jYgTfIbO-The-end-of-the-bear-market-doesn-t-seem-close-BTC-update/
This was the comment:
"Zoom out and you will see that we are too far from an end, end of the bear market! All three Bollinger bands are pointing down creating downward momentum. We have now attempt on daily time frame to close above top Bollinger band that would invalidate this downward momentum that is active on weekly time frame but we got rejected 3 days in a row from top Bollinger band!
RSI is not even close to oversold area! For healthy uptrend, RSI has to test oversold area on weekly time! After potential rejection from oversold area, we may finally start to think about end of the bear market and the beginning of big bull market!
Best regards!"
BTC Update : https://www.tradingview.com/x/44CS6lnJ/
After almost 4 years, Bitcoin is entering oversold RSI zone. It doesn't mean that it will bounce off from this zone but once bullish divergance is built creating higher highs on the weekly time frame, we can expect the end of bear market and entering the accumulation zone for next bull run.
Last major downtrend ended once bullish divergance was made on weekly time frame, we do believe something similar is going to happen this time again.
Considering that every candle requires 7 days since this is weekly time frame, in best example it will take 4-6 weeks for bullish divergance to be developed but it also can take 15-20 weeks. Once we approach oversold zone on weekly time frame, it is time to think of the end of bear market.
Since this is only one indicator, you should never base all your research on only one indicator. The strongest sign that you can get from RSI is divergance. It requires at least few candles to be developed so this post is for you to follow this development and once it happens, it is going to be very strong sign. Considering that it could be developed in area of big weekly and monthly supports (2900, 2500, 1800), its meaning is even stronger.
To your success, CS Team!
This was our weeklt update few months ago: https://www.tradingview.com/chart/XBTUSD/jYgTfIbO-The-end-of-the-bear-market-doesn-t-seem-close-BTC-update/
This was the comment:
"Zoom out and you will see that we are too far from an end, end of the bear market! All three Bollinger bands are pointing down creating downward momentum. We have now attempt on daily time frame to close above top Bollinger band that would invalidate this downward momentum that is active on weekly time frame but we got rejected 3 days in a row from top Bollinger band!
RSI is not even close to oversold area! For healthy uptrend, RSI has to test oversold area on weekly time! After potential rejection from oversold area, we may finally start to think about end of the bear market and the beginning of big bull market!
Best regards!"
BTC Update : https://www.tradingview.com/x/44CS6lnJ/
After almost 4 years, Bitcoin is entering oversold RSI zone. It doesn't mean that it will bounce off from this zone but once bullish divergance is built creating higher highs on the weekly time frame, we can expect the end of bear market and entering the accumulation zone for next bull run.
Last major downtrend ended once bullish divergance was made on weekly time frame, we do believe something similar is going to happen this time again.
Considering that every candle requires 7 days since this is weekly time frame, in best example it will take 4-6 weeks for bullish divergance to be developed but it also can take 15-20 weeks. Once we approach oversold zone on weekly time frame, it is time to think of the end of bear market.
Since this is only one indicator, you should never base all your research on only one indicator. The strongest sign that you can get from RSI is divergance. It requires at least few candles to be developed so this post is for you to follow this development and once it happens, it is going to be very strong sign. Considering that it could be developed in area of big weekly and monthly supports (2900, 2500, 1800), its meaning is even stronger.
To your success, CS Team!
TradingView
The end of the bear market doesn't seem close! - BTC update! for BITMEX:XBTUSD by CryptoAims
Zoom out and you will see that we are too far from an end, end of the bear market! All three Bollinger bands are pointing down creating downward momentum. We have now attempt on daily time frame to close above top Bollinger band that would invalidate this…
It is December 15th, 2018
BTC dominance is currently at 55.3% (+0.4%). The total market cap is currently at $100.7 billion (- $4.5 billion). The market volume of the last 24h was $10.4 billion (- $1.6 billion).
Fundamental analysis
Major US Crypto Exchange Coinbase Adds Cash Withdrawals to PayPal
https://cointelegraph.com/news/major-us-crypto-exchange-coinbase-adds-cash-withdrawals-to-paypal
When There’s Blood in the Street (Why It’s Not Quite Time to Be Long Crypto)
https://www.coindesk.com/when-theres-blood-in-the-street-why-its-not-quite-time-to-be-long-crypto
They want you to open as many short as possible so they can pump it easily. Keep in mind that every opened short is going to be closed sooner or later by opening long one! More opened short = more guaranteed long to be opened.
Technical analysis
Daily time frame : https://www.tradingview.com/x/nOpdmSGs/
There is still no profitable entry setup. The risk managment doesn't allow us entering any position at the moment.
We are too close too 3000 price level that is important psychological price level. Below that we have area 2800-2900 that is considered as important weekly support.
We are too close to potential support so shorting doesn't allow us profitable entry point especially because 80% of drops are followed by bounces so it is impossible to ride the wave down and max out your gains.
We are not longing because it would be insane to try to catch the falling knife. We are making new yearly lows and longing would be crazy idea. It would be crazy idea until we see big bounce off. That's what we are waiting for our entry setup. We are waiting for bounce that will be confirmed by volume and our price action and then on retest we are going to long it.
Weekly time frame : https://www.tradingview.com/x/BiUR6e3y/
Currently, since it is weekend and weekly close is coming, if it closes right now, it would be very bearish. In order to turn bullish, we need close above 3450 at least. Currently it looks too far and almost impossible but we are still having more than 30 hours so never say never.
Weekly close around 3500 would trigger at least 3900 as a target. Weekly close below 3300 will trigger continuational price action and we are probably going to see the test of major psychological price level at 3000 and major weekly level of 2800-2900.
To your success, CS Team!
BTC dominance is currently at 55.3% (+0.4%). The total market cap is currently at $100.7 billion (- $4.5 billion). The market volume of the last 24h was $10.4 billion (- $1.6 billion).
Fundamental analysis
Major US Crypto Exchange Coinbase Adds Cash Withdrawals to PayPal
https://cointelegraph.com/news/major-us-crypto-exchange-coinbase-adds-cash-withdrawals-to-paypal
When There’s Blood in the Street (Why It’s Not Quite Time to Be Long Crypto)
https://www.coindesk.com/when-theres-blood-in-the-street-why-its-not-quite-time-to-be-long-crypto
They want you to open as many short as possible so they can pump it easily. Keep in mind that every opened short is going to be closed sooner or later by opening long one! More opened short = more guaranteed long to be opened.
Technical analysis
Daily time frame : https://www.tradingview.com/x/nOpdmSGs/
There is still no profitable entry setup. The risk managment doesn't allow us entering any position at the moment.
We are too close too 3000 price level that is important psychological price level. Below that we have area 2800-2900 that is considered as important weekly support.
We are too close to potential support so shorting doesn't allow us profitable entry point especially because 80% of drops are followed by bounces so it is impossible to ride the wave down and max out your gains.
We are not longing because it would be insane to try to catch the falling knife. We are making new yearly lows and longing would be crazy idea. It would be crazy idea until we see big bounce off. That's what we are waiting for our entry setup. We are waiting for bounce that will be confirmed by volume and our price action and then on retest we are going to long it.
Weekly time frame : https://www.tradingview.com/x/BiUR6e3y/
Currently, since it is weekend and weekly close is coming, if it closes right now, it would be very bearish. In order to turn bullish, we need close above 3450 at least. Currently it looks too far and almost impossible but we are still having more than 30 hours so never say never.
Weekly close around 3500 would trigger at least 3900 as a target. Weekly close below 3300 will trigger continuational price action and we are probably going to see the test of major psychological price level at 3000 and major weekly level of 2800-2900.
To your success, CS Team!
Cointelegraph
Major US Crypto Exchange Coinbase Adds Cash Withdrawals to PayPal
U.S.-based crypto exchange Coinbase enhances its services, introducing cash balance withdrawals to PayPal.
It is December 16th, 2018
BTC dominance is currently at 54.8% (-0.5%). The total market cap is currently at $104.0 billion (+ $3.3 billion). The market volume of the last 24h was $10.7 billion (+ $0.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/olwa3zrf/
4H time frame : https://www.tradingview.com/x/3xEC970h/
We saw some kind of up move yesterday that continued today. It is still very low and below all major resistances.
We are currently monitoring low time frames, such as H1 and H4, in order to spot profitable trade setup. Currently, as most of you know we are more focused on finding long entries since, once more time, shorting close to these important price levels is too risky. We will be interesting in short entries once we see up move. Major 3 resistances are 3700, 3900 and 4500. These 3 price levels are areas we are going to look for short entry.
Shorting below these price levels is same as buying Bitcoin at $17k in December 2017. You have potential but also the risk to get rekt is big.
Once we get confirmation, we will share with free channel.
To your success, CS Team!
BTC dominance is currently at 54.8% (-0.5%). The total market cap is currently at $104.0 billion (+ $3.3 billion). The market volume of the last 24h was $10.7 billion (+ $0.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/olwa3zrf/
4H time frame : https://www.tradingview.com/x/3xEC970h/
We saw some kind of up move yesterday that continued today. It is still very low and below all major resistances.
We are currently monitoring low time frames, such as H1 and H4, in order to spot profitable trade setup. Currently, as most of you know we are more focused on finding long entries since, once more time, shorting close to these important price levels is too risky. We will be interesting in short entries once we see up move. Major 3 resistances are 3700, 3900 and 4500. These 3 price levels are areas we are going to look for short entry.
Shorting below these price levels is same as buying Bitcoin at $17k in December 2017. You have potential but also the risk to get rekt is big.
Once we get confirmation, we will share with free channel.
To your success, CS Team!
Who is opening massive long positions on Bitcoin?
BTC Long Update: https://www.tradingview.com/x/NYsuipsn/
Very interesting to see longs trying to reach new all time high while we have short positions on all time high. It will be interesting week ahead of us.
The only question is who is opening these long positions because it is not hard to answer to the same question about short. Short positions are opened by a lot of market participants, both smart and less smart money. But the question is who is opening these longs? Smart money, aka whales? Are they hedging their short positions or this is preparation for big bounce off? Do they know something that the rest of us don't?
All in all, we hope this is going to bring us volatility again and as we said it will be interesting to see what is going to happen!
All the best in the next week, CS Team!
BTC Long Update: https://www.tradingview.com/x/NYsuipsn/
Very interesting to see longs trying to reach new all time high while we have short positions on all time high. It will be interesting week ahead of us.
The only question is who is opening these long positions because it is not hard to answer to the same question about short. Short positions are opened by a lot of market participants, both smart and less smart money. But the question is who is opening these longs? Smart money, aka whales? Are they hedging their short positions or this is preparation for big bounce off? Do they know something that the rest of us don't?
All in all, we hope this is going to bring us volatility again and as we said it will be interesting to see what is going to happen!
All the best in the next week, CS Team!
It is December 17th, 2018
BTC dominance is currently at 54.9% (+0.1%). The total market cap is currently at $109.3 billion (+ $5.3 billion). The market volume of the last 24h was $12.0 billion (+ $1.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/4igM2vXm/
H4 time frame : https://www.tradingview.com/x/HxH3gv1v/
After few days of slowly moves we finally saw major move. Looks like the longs opened on Bitfinex knew something.
Which ever tool you use, it will show you extremely oversold price action and as we mentioned few times shorting there would be nothing but fomo. We called this move up few times and it finally did happen.
And we think this is just beginning. If we manage to see close of daily candle above 3430, we will be ready for first major resistance around 3600-3700 area.
Considering that this move up was followed by biggest 5 min volume on Bitmex in last 6-7 weeks, we think it won't finish just on this move and that we have solid chance to see continuation to first major resistance where short option will be in play again.
One more reason why we think the continuation of this move up will happen is the fact that opened longs are still opened and just few of them got closed which gives us reason to think that these who opened them are not happy and willing to wait for further targets before closing them.
Back to bigger picture, it is still downtrend. One of these targets (3700,3900,4500) is going to play out and we are going to see one more move down because short risk managment will become profitable again. Currently long risk managment is much more profitable then short one but as we said, do not be tricked, it is still extremely bearish market and check twice these targets once they get reached because every one of them is going to offer at least short resistance and move down that could be profitable for you!
To your success, CS Team!
BTC dominance is currently at 54.9% (+0.1%). The total market cap is currently at $109.3 billion (+ $5.3 billion). The market volume of the last 24h was $12.0 billion (+ $1.3 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/4igM2vXm/
H4 time frame : https://www.tradingview.com/x/HxH3gv1v/
After few days of slowly moves we finally saw major move. Looks like the longs opened on Bitfinex knew something.
Which ever tool you use, it will show you extremely oversold price action and as we mentioned few times shorting there would be nothing but fomo. We called this move up few times and it finally did happen.
And we think this is just beginning. If we manage to see close of daily candle above 3430, we will be ready for first major resistance around 3600-3700 area.
Considering that this move up was followed by biggest 5 min volume on Bitmex in last 6-7 weeks, we think it won't finish just on this move and that we have solid chance to see continuation to first major resistance where short option will be in play again.
One more reason why we think the continuation of this move up will happen is the fact that opened longs are still opened and just few of them got closed which gives us reason to think that these who opened them are not happy and willing to wait for further targets before closing them.
Back to bigger picture, it is still downtrend. One of these targets (3700,3900,4500) is going to play out and we are going to see one more move down because short risk managment will become profitable again. Currently long risk managment is much more profitable then short one but as we said, do not be tricked, it is still extremely bearish market and check twice these targets once they get reached because every one of them is going to offer at least short resistance and move down that could be profitable for you!
To your success, CS Team!
The stock market is on pace for its worst December since the Great Depression
It is easy to criticise crypto market and say bad about crypto but what about stock market? Crypto is about to die but stock is going just through an "usual" correction?
We are close to big changes in economic and finacial world?
We are not experts but worst December in stock market since Great Depression says enough...
Make your own decision, we already did ours!
In crypto we trust!
https://www.cnbc.com/2018/12/17/worst-start-to-december-for-the-stock-market-since-great-depression.html
It is easy to criticise crypto market and say bad about crypto but what about stock market? Crypto is about to die but stock is going just through an "usual" correction?
We are close to big changes in economic and finacial world?
We are not experts but worst December in stock market since Great Depression says enough...
Make your own decision, we already did ours!
In crypto we trust!
https://www.cnbc.com/2018/12/17/worst-start-to-december-for-the-stock-market-since-great-depression.html
Bloomberg reviewed bank statements that confirm Tether has the billions it claims to have in a bank.
Finally, the rumours that were active for months could be finished since we have first proof that USDT is actually pegged by USD.
https://www.bloomberg.com/news/articles/2018-12-18/crypto-mystery-clues-suggest-tether-has-the-billions-it-promised?srnd=premium
Finally, the rumours that were active for months could be finished since we have first proof that USDT is actually pegged by USD.
https://www.bloomberg.com/news/articles/2018-12-18/crypto-mystery-clues-suggest-tether-has-the-billions-it-promised?srnd=premium
It is December 18th, 2018
BTC dominance is currently at 54.1% (-0.8%). The total market cap is currently at $113.7 billion (+ $4.4 billion). The market volume of the last 24h was $17.6 billion (+ $5.6 billion).
Fundamental analysis
A Year After $20K, Blockchain Capital Exec Says Investors Will Regret Not Buying in Now
https://cointelegraph.com/news/a-year-after-20k-blockchain-capital-exec-says-investors-will-regret-not-buying-in-now
Tether Bank Statements ‘Suggest’ Company Has Full Fiat Reserves: Bloomberg
https://cointelegraph.com/news/tether-bank-statements-suggest-company-has-full-fiat-reserves-bloomberg
Technical analysis
Daily time frame : https://www.tradingview.com/x/3VICZuCk/
As long as Bitcoin holds 3400 as support, we consider it short term bullish and we will be looking for long entries over short ones.
It is very important price level. We saw yesterday very good up move that close above 3430 and now if price stays above, we expect that move above 3600 to test first major resistance at 3700.
The number of opened longs on Bitmex was 62% compared to only 38% shorts and this brought us a little worry because if everyone open long position, there will be no enough money to generate profit for all long positions. But, luckily we saw some kind of pullback exactly to 3430 and number of longs dropped to 53% compared to 47% of shorts so we have more than enough potential long positions to be opened.
This is for Bitmex. On Bitfinex, we have even more shorts than longs so nothing stop price to goes up.
We got a lot of great news in the market that will surely help the price for that one more leg up.
So, to conclude, our team is short term bullish until we see test of 3650-3700 area. That is the first area we are going to consider as short opportunity. If we manage to cross that area, we will keep our longs all the way up to next one at 3900-4000 that is important weekly resistance. This is our second short area. If that one get crossed too, we are going to look for monthoy resistance at 4400-4500 for opening shorts.
If we break this support at 3400, we will short only if we get perfect price setup because again 3400 still offers bad risk managment for short positions so that's why as we said, short will come in play at one of these 3 resistances. Everything others will be FOMO short.
To your success, CS Team!
BTC dominance is currently at 54.1% (-0.8%). The total market cap is currently at $113.7 billion (+ $4.4 billion). The market volume of the last 24h was $17.6 billion (+ $5.6 billion).
Fundamental analysis
A Year After $20K, Blockchain Capital Exec Says Investors Will Regret Not Buying in Now
https://cointelegraph.com/news/a-year-after-20k-blockchain-capital-exec-says-investors-will-regret-not-buying-in-now
Tether Bank Statements ‘Suggest’ Company Has Full Fiat Reserves: Bloomberg
https://cointelegraph.com/news/tether-bank-statements-suggest-company-has-full-fiat-reserves-bloomberg
Technical analysis
Daily time frame : https://www.tradingview.com/x/3VICZuCk/
As long as Bitcoin holds 3400 as support, we consider it short term bullish and we will be looking for long entries over short ones.
It is very important price level. We saw yesterday very good up move that close above 3430 and now if price stays above, we expect that move above 3600 to test first major resistance at 3700.
The number of opened longs on Bitmex was 62% compared to only 38% shorts and this brought us a little worry because if everyone open long position, there will be no enough money to generate profit for all long positions. But, luckily we saw some kind of pullback exactly to 3430 and number of longs dropped to 53% compared to 47% of shorts so we have more than enough potential long positions to be opened.
This is for Bitmex. On Bitfinex, we have even more shorts than longs so nothing stop price to goes up.
We got a lot of great news in the market that will surely help the price for that one more leg up.
So, to conclude, our team is short term bullish until we see test of 3650-3700 area. That is the first area we are going to consider as short opportunity. If we manage to cross that area, we will keep our longs all the way up to next one at 3900-4000 that is important weekly resistance. This is our second short area. If that one get crossed too, we are going to look for monthoy resistance at 4400-4500 for opening shorts.
If we break this support at 3400, we will short only if we get perfect price setup because again 3400 still offers bad risk managment for short positions so that's why as we said, short will come in play at one of these 3 resistances. Everything others will be FOMO short.
To your success, CS Team!
Cointelegraph
A Year After $20K, Blockchain Capital Exec Says Investors Will Regret Not Buying In Now
One year after Bitcoin broke crypto industry records to hit $20,000, Blockchain Capital’s Spencer Bogart says today’s bearish market represents “a fantastic buying opportunity.”
It is December 19th, 2018
BTC dominance is currently at 53.6% (0.5%). The total market cap is currently at $124.7 billion (+ $11.0 billion). The market volume of the last 24h was $19.9 billion (+ $2.3 billion).
Bitcoin Extends Price Anniversary Rally to Hit $3,800 as Altcoins Surge Higher
https://cointelegraph.com/news/bitcoin-extends-price-anniversary-rally-to-hit-3-800-as-altcoins-surge-higher
The Big Short: Former IMF Economist Finally Closes Year-Old Bitcoin Short
https://www.ccn.com/the-big-short-former-imf-economist-finally-closes-year-old-bitcoin-short/
Technical analysis
Daily time frame : https://www.tradingview.com/x/FEWM6GCb/
H4 Time frame : https://www.tradingview.com/x/RsqlOTrt/
What a week for crypto market. After total market cap dropped to $100 billion, the beginning of the week added $25 billion to the market. Bitcoin Went up 20% while alts are up even more. It is clear that local bottom of the correction is reached. The downtrend got exhausted and now we can see massive buy action.
If we consider number of longs and shorts, there is no sign of slowing down. Longs are still down compared to shorts (only 54%) so there is more than enough potential long positions to be opened.
After breaking 3700 level, where next?
Next resistance is at 3930 (weekly resistance). After that we have one more weekly resistance at 4100. After that, we have clear road all the way to 5200.
On the monthly we have important resistance around 4500.
All in all, market is looking great and we are very proud that we shared this many times. We stated that downtrend is showing extremelly big signs of exhaustion and we are proud that we were right.
Now, it is time to ignore this market sentiment and find the next potential important price point. Now market will turn bullish ignoring that we dropped 50% in November so if you missed longs, we are still in bear market and up move is just better opportunity for short entry.
We want to see rejection before thinking of shorting. Once rejection happen, we will start looking for short entry. Currently it is too bullish and trying to catch the top could cause you to be stopped out a lot of times.
We will wonitor the up move and look for exhaustion signs. Currently it is too bullish and shorting is bad idea at all.
To your success, CS Team!
BTC dominance is currently at 53.6% (0.5%). The total market cap is currently at $124.7 billion (+ $11.0 billion). The market volume of the last 24h was $19.9 billion (+ $2.3 billion).
Bitcoin Extends Price Anniversary Rally to Hit $3,800 as Altcoins Surge Higher
https://cointelegraph.com/news/bitcoin-extends-price-anniversary-rally-to-hit-3-800-as-altcoins-surge-higher
The Big Short: Former IMF Economist Finally Closes Year-Old Bitcoin Short
https://www.ccn.com/the-big-short-former-imf-economist-finally-closes-year-old-bitcoin-short/
Technical analysis
Daily time frame : https://www.tradingview.com/x/FEWM6GCb/
H4 Time frame : https://www.tradingview.com/x/RsqlOTrt/
What a week for crypto market. After total market cap dropped to $100 billion, the beginning of the week added $25 billion to the market. Bitcoin Went up 20% while alts are up even more. It is clear that local bottom of the correction is reached. The downtrend got exhausted and now we can see massive buy action.
If we consider number of longs and shorts, there is no sign of slowing down. Longs are still down compared to shorts (only 54%) so there is more than enough potential long positions to be opened.
After breaking 3700 level, where next?
Next resistance is at 3930 (weekly resistance). After that we have one more weekly resistance at 4100. After that, we have clear road all the way to 5200.
On the monthly we have important resistance around 4500.
All in all, market is looking great and we are very proud that we shared this many times. We stated that downtrend is showing extremelly big signs of exhaustion and we are proud that we were right.
Now, it is time to ignore this market sentiment and find the next potential important price point. Now market will turn bullish ignoring that we dropped 50% in November so if you missed longs, we are still in bear market and up move is just better opportunity for short entry.
We want to see rejection before thinking of shorting. Once rejection happen, we will start looking for short entry. Currently it is too bullish and trying to catch the top could cause you to be stopped out a lot of times.
We will wonitor the up move and look for exhaustion signs. Currently it is too bullish and shorting is bad idea at all.
To your success, CS Team!
Cointelegraph
Bitcoin Extends Price Anniversary Rally to Hit $3,800 as Altcoins Surge Higher
Bitcoin is seeing a fresh push higher one year after it passed its highest-ever price of $20,000.
It is December 20th, 2018
BTC dominance is currently at 53.7% (+0.1%). The total market cap is currently at $135.7 billion (+ $11.0 billion). The market volume of the last 24h was $25.3 billion (+ $5.4 billion).
Fundamental analysis
Bitcoin Back Over $4K as Crypto Markets See Fifth Day of Green
https://cointelegraph.com/news/bitcoin-back-over-4k-as-crypto-markets-see-fifth-day-of-green
Technical analysis
Daily time frame: https://www.tradingview.com/x/Tl5erFXj/
Even bulls, those who expected this up move including our team, are surprised by this performance. In extremely bear market to see $1000 move in 4 days without major correction is simply unbelievable. Our longs opened at 3220 are mainly closed at 2 arreas: 3550 and 3700. You can't be sad after catching this move but it outperformed any expectations.
This is spectacular. Go on coinmarketcap and take a screenshot. We have gainers of 30-50%. Not low market cap coins but top10 coins. Take a screenshot to keep yourself optimistic when prices go down.
Check our previous posts. We told you it is all about market cycle. Check now the atmosphere in crypto community and compare to 7 days back. This is extremely emotional market at the moment and nothing is impossible.
Yesterday daily close was at least neutral. Big wick and almost no body at all can't be considered bullish. It is even more bearish. It triggered a lot of shorts to be opened thinking that 3700 will hold this move. What happened next is unbelievable.
What to do now? Is this end of bear market?
Well, it is hard to say but we think it is too far from the end of bear market. Check out our todays daily chart and look at fibonacci price levels. What do you see?
We are in general extremely bearish. Price didn't even test 0.382 price level. Being below 0.382 is extremely bearish. That's why we expect to see more upward momentum because we think Bitcoin is able to reach at least 0.382 and maybe even 0.500 but not above that.
Do you want us to count Eliot waves? On previous drop it is clear that we had 5 complited waves. Now corrective wave is in play and after that new move down is expected.
Just ignore this hype and try to stand out from the crowd. Twitter shillers were extremely bullish at top and extremely bearish few days ago at the bottom. Waiting for them to turn bullish again to think about opening major short swing.
We are not shorting, we were long, made nice profit. It could be even better but now we are out of the market and waiting for next profitable risk management. More we go up, better for out potential short position. It is extremely bullish market sentiment but give it few days and market will calm down. Once we see red in the market, fear will be back so zoom out and you will see that we are still too low.
Market bottom will be reached once one or both of these 2 things happen: either Bitcoin goes above $6000 or total market cap above $250 billion. It could happen in 3 weeks, 3 months or 3 years (most likely it will take less than 3 years 😜).
No one has magical ball to predict exact day so just wait for profitable trade setup and take a trade. There will be a lot of time you are going to be stopped out but as long as you are keeping your losses small and letting your winners reach their full potential.
It's all about market cycles, we will go up, market will be euphoric. We will go down, market will be depressed. Focus only on risk managment and you will be able to make profit even in this market. Our risk management for our latest BTC long was believe or not 1:20. Stop loss was $15 below and first target $300 from an entry.
This is not going to happen everyday but when you focus on risk management and ignore naysayers I guarantee you will be able to make profit.
BTC dominance is currently at 53.7% (+0.1%). The total market cap is currently at $135.7 billion (+ $11.0 billion). The market volume of the last 24h was $25.3 billion (+ $5.4 billion).
Fundamental analysis
Bitcoin Back Over $4K as Crypto Markets See Fifth Day of Green
https://cointelegraph.com/news/bitcoin-back-over-4k-as-crypto-markets-see-fifth-day-of-green
Technical analysis
Daily time frame: https://www.tradingview.com/x/Tl5erFXj/
Even bulls, those who expected this up move including our team, are surprised by this performance. In extremely bear market to see $1000 move in 4 days without major correction is simply unbelievable. Our longs opened at 3220 are mainly closed at 2 arreas: 3550 and 3700. You can't be sad after catching this move but it outperformed any expectations.
This is spectacular. Go on coinmarketcap and take a screenshot. We have gainers of 30-50%. Not low market cap coins but top10 coins. Take a screenshot to keep yourself optimistic when prices go down.
Check our previous posts. We told you it is all about market cycle. Check now the atmosphere in crypto community and compare to 7 days back. This is extremely emotional market at the moment and nothing is impossible.
Yesterday daily close was at least neutral. Big wick and almost no body at all can't be considered bullish. It is even more bearish. It triggered a lot of shorts to be opened thinking that 3700 will hold this move. What happened next is unbelievable.
What to do now? Is this end of bear market?
Well, it is hard to say but we think it is too far from the end of bear market. Check out our todays daily chart and look at fibonacci price levels. What do you see?
We are in general extremely bearish. Price didn't even test 0.382 price level. Being below 0.382 is extremely bearish. That's why we expect to see more upward momentum because we think Bitcoin is able to reach at least 0.382 and maybe even 0.500 but not above that.
Do you want us to count Eliot waves? On previous drop it is clear that we had 5 complited waves. Now corrective wave is in play and after that new move down is expected.
Just ignore this hype and try to stand out from the crowd. Twitter shillers were extremely bullish at top and extremely bearish few days ago at the bottom. Waiting for them to turn bullish again to think about opening major short swing.
We are not shorting, we were long, made nice profit. It could be even better but now we are out of the market and waiting for next profitable risk management. More we go up, better for out potential short position. It is extremely bullish market sentiment but give it few days and market will calm down. Once we see red in the market, fear will be back so zoom out and you will see that we are still too low.
Market bottom will be reached once one or both of these 2 things happen: either Bitcoin goes above $6000 or total market cap above $250 billion. It could happen in 3 weeks, 3 months or 3 years (most likely it will take less than 3 years 😜).
No one has magical ball to predict exact day so just wait for profitable trade setup and take a trade. There will be a lot of time you are going to be stopped out but as long as you are keeping your losses small and letting your winners reach their full potential.
It's all about market cycles, we will go up, market will be euphoric. We will go down, market will be depressed. Focus only on risk managment and you will be able to make profit even in this market. Our risk management for our latest BTC long was believe or not 1:20. Stop loss was $15 below and first target $300 from an entry.
This is not going to happen everyday but when you focus on risk management and ignore naysayers I guarantee you will be able to make profit.
Cointelegraph
Bitcoin Back Over $4K as Crypto Markets See Fifth Day of Green
Crypto markets are seeing their fifth day of green, with Bitcoin breaking back above $4,000.
We are going to sit back and look for signs from higher time frames. Once it happens, we will share our opinion with you. We still think Bitcoin has chance for 4300-4500 push but we are not going to long because it would be similar to shorting at 3400. It could be profitable but it is also in the same time very risky.
To your success, CS Team!
To your success, CS Team!
It is December 21st, 2018
BTC dominance 53.5% (-0.2%). The total market cap is currently at $130.5 billion (- $5.2 billion). The market volume of the last 24h was $24.1 billion (- $1.2 billion).
Fundamental analysis
Bitcoin Found Solid Bottom at $3K But Not Ready to Break $5K Yet
https://www.ccn.com/bitcoin-found-solid-bottom-at-3k-but-not-ready-to-break-5k-yet/
Bitcoin Showing Signs of a Classic "V" Bottom?
https://www.publish0x.com/crypto-quantamental/bitcoin-showing-signs-of-a-classic-v-bottomreversal-122018-xork?a=O5xe73je7r
Technical analysis
Daily time frame : https://www.tradingview.com/x/OepHnBmZ/
4h time frame : https://www.tradingview.com/x/2CyJGYn9/
Yesterday was the day when we had the biggest volume in Bitcoin history.
It say more than enough. The volume was bigger than the volume on December 17th 2017, bigger than any other day.
It is very positive to see buying activity.
We think the highest point is probably not reached yet. We have 2 potential supports. First one is green area around 3900-3950 and second potential area is marked red on the chart and it ranges between 3700 and 3750. In our opinion from one of these 2 points we will have move up.
If not these 2 then we need to recheck our analysis.
We see a lot of resistances around 4400-4500 area and it will be interesting area for thinking of short. We wont try to catch the top but rather wait for first rejection and on pullback we will search for short entry.
So, this is our current situation. Looking for these 2 potential supports to give us trigger for long and if that happens we will ride that long and wait for recent high around 4150 to see how price is going to act at that level. If that one gets broken our next target is going to be major resistance around 4400-4500 area.
To your success, CS Team!
BTC dominance 53.5% (-0.2%). The total market cap is currently at $130.5 billion (- $5.2 billion). The market volume of the last 24h was $24.1 billion (- $1.2 billion).
Fundamental analysis
Bitcoin Found Solid Bottom at $3K But Not Ready to Break $5K Yet
https://www.ccn.com/bitcoin-found-solid-bottom-at-3k-but-not-ready-to-break-5k-yet/
Bitcoin Showing Signs of a Classic "V" Bottom?
https://www.publish0x.com/crypto-quantamental/bitcoin-showing-signs-of-a-classic-v-bottomreversal-122018-xork?a=O5xe73je7r
Technical analysis
Daily time frame : https://www.tradingview.com/x/OepHnBmZ/
4h time frame : https://www.tradingview.com/x/2CyJGYn9/
Yesterday was the day when we had the biggest volume in Bitcoin history.
It say more than enough. The volume was bigger than the volume on December 17th 2017, bigger than any other day.
It is very positive to see buying activity.
We think the highest point is probably not reached yet. We have 2 potential supports. First one is green area around 3900-3950 and second potential area is marked red on the chart and it ranges between 3700 and 3750. In our opinion from one of these 2 points we will have move up.
If not these 2 then we need to recheck our analysis.
We see a lot of resistances around 4400-4500 area and it will be interesting area for thinking of short. We wont try to catch the top but rather wait for first rejection and on pullback we will search for short entry.
So, this is our current situation. Looking for these 2 potential supports to give us trigger for long and if that happens we will ride that long and wait for recent high around 4150 to see how price is going to act at that level. If that one gets broken our next target is going to be major resistance around 4400-4500 area.
To your success, CS Team!
CCN
Bitcoin Found Solid Bottom at $3K But Not Ready to Break $5K Yet
Since December 17, within four days, the Bitcoin price recovered from $3,181 to $4,073 by 28 percent on most major fiat-to-crypto exchanges. But, on a 30-day basis, the value of the dominant cryptocurrency still remains down
Swim against the current
Bulls are currently punishing late bears. Price dropped almost 50% and people thought if I sell BTC at $3000 and buy back at $2500 I will grow my holdings for 20%. It is going to be easy money since price is dropping without any rejection, Bitcoin is dead.
This was the market sentiment. People were shorting thinking it is going to make them easy money.
We saw one bounce from 3200 to 3500. It didn't continue up and we dropped again. Then we saw another big bounce. These 2 were the main sign of an end of the first part of the correction.
Now, we will see buy action by these who sold down there below 3500 because they think it is over, we are going up.
We do not have clear signs yet but what we expect is to see reverse action. This time bears will be punishing late bulls.
Try to avoid mass opinion. The minority will never feed the majority but vice versa. The minority is where the smart money is.
Follow the smart money because if they were able to make money in past, most likely they will make the money in future.
Whenever the majority turn bullish, it is strong sign tighten up your stop loss, time to start thinking of going short.
Bulls are currently punishing late bears. Price dropped almost 50% and people thought if I sell BTC at $3000 and buy back at $2500 I will grow my holdings for 20%. It is going to be easy money since price is dropping without any rejection, Bitcoin is dead.
This was the market sentiment. People were shorting thinking it is going to make them easy money.
We saw one bounce from 3200 to 3500. It didn't continue up and we dropped again. Then we saw another big bounce. These 2 were the main sign of an end of the first part of the correction.
Now, we will see buy action by these who sold down there below 3500 because they think it is over, we are going up.
We do not have clear signs yet but what we expect is to see reverse action. This time bears will be punishing late bulls.
Try to avoid mass opinion. The minority will never feed the majority but vice versa. The minority is where the smart money is.
Follow the smart money because if they were able to make money in past, most likely they will make the money in future.
Whenever the majority turn bullish, it is strong sign tighten up your stop loss, time to start thinking of going short.