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.
It is December 22nd, 2018
BTC dominance is currently at 53.2% (-0.3%). The total market cap is currently at $127.7 billion (- $2.8 billion). The market volume of the last 24h was $19.5 billion (- $4.6 billion).
Techical analysis
Weekly time frame : https://www.tradingview.com/x/a7Se7p5R/
Startig weekly time frame, we marked 2 most important areas, support and resistance. If we see close above resistance, it will give price extra drive for further resistance areas aroud 4500 and maybe even to 5200 but it is currently too far from current price so we can talk about that target if 4500 gets reached.
On the other side, close below support will trigger at least double bottom so we will have rely to test recet lows. If this support doesn't hold, we will probably enter below 3000.
This is overall look and why this up move should be followed carefully. Market could start to think of end of bear market only around 5200 and wait for 6000 as a confirmation. Currently we are too far from these price levels so both situations has to be considered.
Daily time frame : https://www.tradingview.com/x/KKqm98Nw/
Daily time frames shows use 2 potential support areas and two potential resistances.
Second resistance looks very strong especially because it is confluence of not only strog horizontal price levels but this time EMA 50 is joining this area.
As we said, we expect to see one more push up. It could be to 4000 as a psychological price level, to recent high at around 4150 to form double top or to 4350-4400 to test this major resistance area.
We expect that move up because after previous move up, there will be certain amount of traders that will think the bottom is reached and they will try to catch long.
4h time frame : https://www.tradingview.com/x/WCcJE5iw/
This time frame is especially interesting to our team because we spotted this green line around 3815 that was very important price area in near past.
The price is currently testing this price level and if we see continuation of rejections, we will probably consider opening new longs.
If this one gets broken, we will probably ignore this green area since it is very close and wait for next green area around 3600-3650 for long trigger.
Since the fundamental side is again full of FOMO and FUD, without articles that can actually bring some value to the market, we decided to make an article and cover technical side as detail as possible going from higher time frames all the way down to low time frames.
We hope you get clear picture of current situation. We shared differet time frames because most people stuck into lower or higher time frames and do not try to find confluence of both time frames.
Move up was amazinng. It is still amazing. Feels great to see the largest volume in BTC history but we think we will need much more time to end this bear market.
To your success, CS Team!
BTC dominance is currently at 53.2% (-0.3%). The total market cap is currently at $127.7 billion (- $2.8 billion). The market volume of the last 24h was $19.5 billion (- $4.6 billion).
Techical analysis
Weekly time frame : https://www.tradingview.com/x/a7Se7p5R/
Startig weekly time frame, we marked 2 most important areas, support and resistance. If we see close above resistance, it will give price extra drive for further resistance areas aroud 4500 and maybe even to 5200 but it is currently too far from current price so we can talk about that target if 4500 gets reached.
On the other side, close below support will trigger at least double bottom so we will have rely to test recet lows. If this support doesn't hold, we will probably enter below 3000.
This is overall look and why this up move should be followed carefully. Market could start to think of end of bear market only around 5200 and wait for 6000 as a confirmation. Currently we are too far from these price levels so both situations has to be considered.
Daily time frame : https://www.tradingview.com/x/KKqm98Nw/
Daily time frames shows use 2 potential support areas and two potential resistances.
Second resistance looks very strong especially because it is confluence of not only strog horizontal price levels but this time EMA 50 is joining this area.
As we said, we expect to see one more push up. It could be to 4000 as a psychological price level, to recent high at around 4150 to form double top or to 4350-4400 to test this major resistance area.
We expect that move up because after previous move up, there will be certain amount of traders that will think the bottom is reached and they will try to catch long.
4h time frame : https://www.tradingview.com/x/WCcJE5iw/
This time frame is especially interesting to our team because we spotted this green line around 3815 that was very important price area in near past.
The price is currently testing this price level and if we see continuation of rejections, we will probably consider opening new longs.
If this one gets broken, we will probably ignore this green area since it is very close and wait for next green area around 3600-3650 for long trigger.
Since the fundamental side is again full of FOMO and FUD, without articles that can actually bring some value to the market, we decided to make an article and cover technical side as detail as possible going from higher time frames all the way down to low time frames.
We hope you get clear picture of current situation. We shared differet time frames because most people stuck into lower or higher time frames and do not try to find confluence of both time frames.
Move up was amazinng. It is still amazing. Feels great to see the largest volume in BTC history but we think we will need much more time to end this bear market.
To your success, CS Team!
It is December 23rd, 2018
BTC dominance is currently at 52.2% (-1.0%). The total market cap is currently at $134.1 billion (+ $6.4 billion). The market volume of the last 24h was $20.9 billion (+ $1.4 billion).
Fundamental analysis
Ethereum Co-Founder Calls ‘the Cryptobottom of 2018’
https://cointelegraph.com/news/ethereum-co-founder-calls-the-cryptobottom-of-2018
US Stock Market Chalks up Huge Weekly Losses, But Bitcoin & DXY Impress
https://www.ccn.com/us-stocks-chalk-up-huge-weekly-losses-bitcoin-dxy-impresses/
We do not write too much about stock market but what we see is not that good for that market and 2019 and 2020 could be very bad years for this market.
Simply look at S&P 500 that created massive bearish pattern at the top of uptrend and now after breaking neckline of that pattern (Head&Shoulders), we saw massive selloff in past few days.
Global financial market is not lookinng good and it could be positive for crypto world since more and more people will get some money into crypto to diversify their savings.
Technical analysis
Daily time frame : https://www.tradingview.com/x/6TRQBi85/
H4 time frame : https://www.tradingview.com/x/lvqNnTI7/
Back to our crypto market, BTC is slowing down preparing for next move.
We can see how our resistance on D1 time frame is holdinng price. What is interesting to us is the price formationn on H4 time frame that clearly form some kind of triangle and we are going to monitor how this one is going to play out because once we leave that accumulation area, it could be the begining of new swing move.
Currently the price is in the middle of that accumulation area and it is hard to say from this point where we can go.
BTC dominance is currently dropping and the results are visible in altcoinn market. We saw very good gains today, especially from ETH which was very slow and it is finally showing positive signs.
All in all, we are still waiting, doing some small scalps but still waiting for opening new major swing positions. Last time it was long, now we are more interested in shorts but we wont ignore strong long signs knowing that there is plenty more room for Bitcoin to grow. If it decides to test major resistance arounnd $4400-4500, it is move of almost $500 and more than enough to be consider as great trading opportunity.
To your success, CS Team!
BTC dominance is currently at 52.2% (-1.0%). The total market cap is currently at $134.1 billion (+ $6.4 billion). The market volume of the last 24h was $20.9 billion (+ $1.4 billion).
Fundamental analysis
Ethereum Co-Founder Calls ‘the Cryptobottom of 2018’
https://cointelegraph.com/news/ethereum-co-founder-calls-the-cryptobottom-of-2018
US Stock Market Chalks up Huge Weekly Losses, But Bitcoin & DXY Impress
https://www.ccn.com/us-stocks-chalk-up-huge-weekly-losses-bitcoin-dxy-impresses/
We do not write too much about stock market but what we see is not that good for that market and 2019 and 2020 could be very bad years for this market.
Simply look at S&P 500 that created massive bearish pattern at the top of uptrend and now after breaking neckline of that pattern (Head&Shoulders), we saw massive selloff in past few days.
Global financial market is not lookinng good and it could be positive for crypto world since more and more people will get some money into crypto to diversify their savings.
Technical analysis
Daily time frame : https://www.tradingview.com/x/6TRQBi85/
H4 time frame : https://www.tradingview.com/x/lvqNnTI7/
Back to our crypto market, BTC is slowing down preparing for next move.
We can see how our resistance on D1 time frame is holdinng price. What is interesting to us is the price formationn on H4 time frame that clearly form some kind of triangle and we are going to monitor how this one is going to play out because once we leave that accumulation area, it could be the begining of new swing move.
Currently the price is in the middle of that accumulation area and it is hard to say from this point where we can go.
BTC dominance is currently dropping and the results are visible in altcoinn market. We saw very good gains today, especially from ETH which was very slow and it is finally showing positive signs.
All in all, we are still waiting, doing some small scalps but still waiting for opening new major swing positions. Last time it was long, now we are more interested in shorts but we wont ignore strong long signs knowing that there is plenty more room for Bitcoin to grow. If it decides to test major resistance arounnd $4400-4500, it is move of almost $500 and more than enough to be consider as great trading opportunity.
To your success, CS Team!
Cointelegraph
Ethereum Co-Founder Calls ‘the Cryptobottom of 2018’
Joseph Lubin, Ethereum’s co-founder, has declared we have reached “the cryptobottom of 2018” in a recent tweet.
It is December 24th, 2018
BTC dominance is currently at 50.7% (-1.5%). The total market cap is currently at $146.2 billion (+ $12.1 billion). The market volume of the last 24h was $24.6 billion (+ $3.7 billion).
Fundamental analysis
Cryptocurrencies Could Outperform All Other Assets in 2019
https://www.ccn.com/cryptocurrencies-could-outperform-all-other-assets-in-2019/
Launch of Bakkt Bitcoin Futures Market May Get Postponed Again
https://www.coindesk.com/launch-of-bakkt-bitcoin-futures-market-may-get-postponed-again
Technical analysis
H4 time frame : https://www.tradingview.com/x/38e31d3F/
The triangle formation broke out upside and reached new high of this entire move up causing altcoin market to go up even more and come close to $150 market cap.
It is coming closer to our major resistance $4300-4400 where we think price will find its resistance and drop below $4000 again.
We are getting some divergence on volume and RSI but we are waiting for confluence in order to consider them as valid sign.
We will not enter a trade based on diveregences but rather waiting for clear sign (nice rejection) and on retest we will search for profitable entry point.
To your success, CS Team!
BTC dominance is currently at 50.7% (-1.5%). The total market cap is currently at $146.2 billion (+ $12.1 billion). The market volume of the last 24h was $24.6 billion (+ $3.7 billion).
Fundamental analysis
Cryptocurrencies Could Outperform All Other Assets in 2019
https://www.ccn.com/cryptocurrencies-could-outperform-all-other-assets-in-2019/
Launch of Bakkt Bitcoin Futures Market May Get Postponed Again
https://www.coindesk.com/launch-of-bakkt-bitcoin-futures-market-may-get-postponed-again
Technical analysis
H4 time frame : https://www.tradingview.com/x/38e31d3F/
The triangle formation broke out upside and reached new high of this entire move up causing altcoin market to go up even more and come close to $150 market cap.
It is coming closer to our major resistance $4300-4400 where we think price will find its resistance and drop below $4000 again.
We are getting some divergence on volume and RSI but we are waiting for confluence in order to consider them as valid sign.
We will not enter a trade based on diveregences but rather waiting for clear sign (nice rejection) and on retest we will search for profitable entry point.
To your success, CS Team!
CCN
Cryptocurrencies Could Outperform All Other Assets in 2019
As other asset markets, particularly the stock markets, enter a bear market some believe cryptocurrencies have a chance at being the best performing asset class next year. Travis Kling, a self-proclaimed ex-equities portfolio manager who “fell down the crypto…
Forwarded from Crypto Signals
May the spirit of the Christmas fill your home with peace, joy and love.
I wish you all dear friends merry Christmas😊🎆🎄
I wish you all dear friends merry Christmas😊🎆🎄
It is December 25th, 2018
We wish you a Merry 🎄🎅
BTC dominance is currently at 51.7% (+1.0%). The total market cap is currently at $128.3 billion (- $17.9 billion). The market volume of the last 24h was $23.1 billion (- $1.5 billion).
Bloomberg: Wall Street Giants Postpone Entering Crypto Industry Amid Falling Prices
https://cointelegraph.com/news/bloomberg-wall-street-giants-postpone-entering-crypto-industry-amid-falling-prices
Yesterday, when we were making a daily update, as we saw bearish divergence on multiply time frames on volume and RSI while price was going constantly up, we got curious and asked ourselves what could make those bearish signs true?
Just few hours they come up with FUD. Price is not following media, media is following price.
Technical analysis
H4 time frame : https://www.tradingview.com/x/SELfkEWp/
The move down was very volatile so we didn't manage to enter the swing short.
We do believe that we will have an entry opportunity for short swing and our area too look for is red area around 4000.
Maybe that area looks too high but that's what price actions say and what we are waiting for.
Potential short area is around EMA 50 (3800) but it can serve us only as short term resistance and offer us scalp opportunity, do not expect move to 3400 from this point straight down and that's why we can't consider this as profitable swing entry.
This move was more auto trading than real trading done by humans also known as manual trading. It was auto because people started to be euphoric, everything was going up, ETH went 30%, ripple did the same, BTC is going up, everyone started to long, they always put stop loss below recent low because it worked last 4-5 times.
When this happpens, 90% price will drop. When price action tends to create same patterns over annd over again, smart money will take that as an opportunnity and by risking some of their money they will push price below recent low to cause chain reaction that will trigger all these stop losses.
It was sell off, it was trigger to look for short entry but we think price will recover because we will have late bulls and once we reach this aread around 4000, we think new drop is coming to 3500-3600.
To your success, CS Team!
We wish you a Merry 🎄🎅
BTC dominance is currently at 51.7% (+1.0%). The total market cap is currently at $128.3 billion (- $17.9 billion). The market volume of the last 24h was $23.1 billion (- $1.5 billion).
Bloomberg: Wall Street Giants Postpone Entering Crypto Industry Amid Falling Prices
https://cointelegraph.com/news/bloomberg-wall-street-giants-postpone-entering-crypto-industry-amid-falling-prices
Yesterday, when we were making a daily update, as we saw bearish divergence on multiply time frames on volume and RSI while price was going constantly up, we got curious and asked ourselves what could make those bearish signs true?
Just few hours they come up with FUD. Price is not following media, media is following price.
Technical analysis
H4 time frame : https://www.tradingview.com/x/SELfkEWp/
The move down was very volatile so we didn't manage to enter the swing short.
We do believe that we will have an entry opportunity for short swing and our area too look for is red area around 4000.
Maybe that area looks too high but that's what price actions say and what we are waiting for.
Potential short area is around EMA 50 (3800) but it can serve us only as short term resistance and offer us scalp opportunity, do not expect move to 3400 from this point straight down and that's why we can't consider this as profitable swing entry.
This move was more auto trading than real trading done by humans also known as manual trading. It was auto because people started to be euphoric, everything was going up, ETH went 30%, ripple did the same, BTC is going up, everyone started to long, they always put stop loss below recent low because it worked last 4-5 times.
When this happpens, 90% price will drop. When price action tends to create same patterns over annd over again, smart money will take that as an opportunnity and by risking some of their money they will push price below recent low to cause chain reaction that will trigger all these stop losses.
It was sell off, it was trigger to look for short entry but we think price will recover because we will have late bulls and once we reach this aread around 4000, we think new drop is coming to 3500-3600.
To your success, CS Team!
Cointelegraph
Bloomberg: Wall Street Giants Postpone Entering Crypto Industry Amid Falling Prices
Bloomberg’s recent article claims that Wall Street’s “dreams” of crypto businesses are now shelved and “in limbo.”
It is December 26th, 2018
BTC dominance is currently at 51.6 (-0.1%). The total market cap is currently at $128.2 billion (- $0.1 billion). The market volume of the last 24h was $18.6 billion (- $4.5 billion).
Fundamental analysis
Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018
https://www.ccn.com/not-just-crypto-and-bitcoin-every-major-asset-class-had-a-major-fallback-in-2018/
Technical annalysis
Daily time frame : https://www.tradingview.com/x/PbGk00Ig/
H4 time frame : https://www.tradingview.com/x/QbTSAYvB/
Starting from daily time frame, price stopped at very important daily level and so far it is holding.
In case this daily level around 3700 holds out, we will have potential inverted Head and Shoulders price pattern that could be quite bullish and that can trigger at least test of recent high arond 4300.
This is bullish scenario in case this price level holds out and gives us nice bounce off.
Bearish scenario would be breaking below this level that would lead us to 3500 area.
Currently, we are more interested in long entry since shorting at these levels does not give us too much room to drop and not only that but we think that at least some move to 3900 has to happen before new drop and that it is not likely to see further continuation of downward momemtum.
Considering that we are still in downtrend, we will double check before entering the trade but the fact is that we are currently short term more bullish than bearish.
To your success, CS Team!
BTC dominance is currently at 51.6 (-0.1%). The total market cap is currently at $128.2 billion (- $0.1 billion). The market volume of the last 24h was $18.6 billion (- $4.5 billion).
Fundamental analysis
Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018
https://www.ccn.com/not-just-crypto-and-bitcoin-every-major-asset-class-had-a-major-fallback-in-2018/
Technical annalysis
Daily time frame : https://www.tradingview.com/x/PbGk00Ig/
H4 time frame : https://www.tradingview.com/x/QbTSAYvB/
Starting from daily time frame, price stopped at very important daily level and so far it is holding.
In case this daily level around 3700 holds out, we will have potential inverted Head and Shoulders price pattern that could be quite bullish and that can trigger at least test of recent high arond 4300.
This is bullish scenario in case this price level holds out and gives us nice bounce off.
Bearish scenario would be breaking below this level that would lead us to 3500 area.
Currently, we are more interested in long entry since shorting at these levels does not give us too much room to drop and not only that but we think that at least some move to 3900 has to happen before new drop and that it is not likely to see further continuation of downward momemtum.
Considering that we are still in downtrend, we will double check before entering the trade but the fact is that we are currently short term more bullish than bearish.
To your success, CS Team!
CCN.com
Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018
Read the entire story "Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018" on CCN.com from category Archive.
It is December 27th, 2018
BTC dominance is currently at 52.1% (+0.5%). The total market cap is currently at $127.2 billion (- $1.0 billion). The market volume of the last 24h was $16.1 billion (- $2.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/OMCCgi5u/
Today we would like to cover daily time frame in deep because we think that the beginning of the new big move or trend is coming closer.
If you look at the chart, it is not that hard to spot inverted head and shoulders. Is it going to push price up? We'll see.
In our opinion, we will get answer very soon because for us 4200 is not main resistance but 3930-3950 because that is the area that will decide if we are going to test 4200 or fall back to 3700. If we reach 4200 with volume, I think most people will be too bullish because of obvious inverted head and shoulders that it will be impossible to stop price of reaching at least 4500.
On the other side, reaching 3700 after failed test of this area (3930-3950) would be rejection of $250 and in that case most people will realise that chances for head and shoulders are very weak and in that scenario we do not expect 3700 to hold longer than 12 hours before going further down to 3550 maybe even lower.
We are currently bullish and we will play this inverted head and shouders trying to catch that big move that could be even $600-800.
We are bullish not only because of Bitcoin but because of Ethereum BTC and especially Ethereum USD.
Ethereum BTC can go up without uptrend in BTC price but Ethereum USD is quite impossible to go up without increase in Bitcoin price.
Let us show you what we are talking about!
ETH/BTC: https://www.tradingview.com/x/LpaDkgb0/
It was amazing breakout after months of constantly dropping.
The red line is the most importannt and currently we are below that line but just 2% in price and we are talking about daily that has 14 hours to close so it can't be considered as invalidation. As long as price is above this red line, we are extra bullish and this gives huge chance for inverted head and shoulders on BTC to play out.
ETH/USD: https://www.tradingview.com/x/AeLZOuse/
On this chart, you see how high it can go? It has at least 30% of free space to grow without any problem.
30% increase in USD price can't happen and won't happen if BTC starts going down because simply ETH will lose USD value because of BTC decline and in order to make 30% gain, ETH/BTC will have to make 50% gain. Since we are in obvious ICO winter, I do not see reason for ETH/BTC to make 50% while BTC is going down.
We hope you got our point of view. Currently market is moving together and we have to find confluence in market and not rely only on a single chart as reference.
We are bullish as long as we are above 3700 and as long as we do not get big rejection from 3930-3950 area.
If we break 3930-3950 area and turn it in our support, I think 4200 will be just little break before reaching at least 4400-4500.
If this price setup doesn't play out, we will start looking for shorts targeting new low because price either goes up or down. If bullish setup gets invalidated, then probably bearish will work out.
To your success, CS Team!
BTC dominance is currently at 52.1% (+0.5%). The total market cap is currently at $127.2 billion (- $1.0 billion). The market volume of the last 24h was $16.1 billion (- $2.5 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/OMCCgi5u/
Today we would like to cover daily time frame in deep because we think that the beginning of the new big move or trend is coming closer.
If you look at the chart, it is not that hard to spot inverted head and shoulders. Is it going to push price up? We'll see.
In our opinion, we will get answer very soon because for us 4200 is not main resistance but 3930-3950 because that is the area that will decide if we are going to test 4200 or fall back to 3700. If we reach 4200 with volume, I think most people will be too bullish because of obvious inverted head and shoulders that it will be impossible to stop price of reaching at least 4500.
On the other side, reaching 3700 after failed test of this area (3930-3950) would be rejection of $250 and in that case most people will realise that chances for head and shoulders are very weak and in that scenario we do not expect 3700 to hold longer than 12 hours before going further down to 3550 maybe even lower.
We are currently bullish and we will play this inverted head and shouders trying to catch that big move that could be even $600-800.
We are bullish not only because of Bitcoin but because of Ethereum BTC and especially Ethereum USD.
Ethereum BTC can go up without uptrend in BTC price but Ethereum USD is quite impossible to go up without increase in Bitcoin price.
Let us show you what we are talking about!
ETH/BTC: https://www.tradingview.com/x/LpaDkgb0/
It was amazing breakout after months of constantly dropping.
The red line is the most importannt and currently we are below that line but just 2% in price and we are talking about daily that has 14 hours to close so it can't be considered as invalidation. As long as price is above this red line, we are extra bullish and this gives huge chance for inverted head and shoulders on BTC to play out.
ETH/USD: https://www.tradingview.com/x/AeLZOuse/
On this chart, you see how high it can go? It has at least 30% of free space to grow without any problem.
30% increase in USD price can't happen and won't happen if BTC starts going down because simply ETH will lose USD value because of BTC decline and in order to make 30% gain, ETH/BTC will have to make 50% gain. Since we are in obvious ICO winter, I do not see reason for ETH/BTC to make 50% while BTC is going down.
We hope you got our point of view. Currently market is moving together and we have to find confluence in market and not rely only on a single chart as reference.
We are bullish as long as we are above 3700 and as long as we do not get big rejection from 3930-3950 area.
If we break 3930-3950 area and turn it in our support, I think 4200 will be just little break before reaching at least 4400-4500.
If this price setup doesn't play out, we will start looking for shorts targeting new low because price either goes up or down. If bullish setup gets invalidated, then probably bearish will work out.
To your success, CS Team!
It is December 28th, 2018
BTC dominance is currently at 52.5% (+0.4%). The total market cap is currently at $121.9 billion (- $5.3 billion). The market volume of the last 24h was $15.4 billion (- $0.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/CYYiY2qb/
Our long setup on BTC is invalidated. We took trade 2 days ago and closed in profit around 3800 and after that we are out of the market waiting for next sign. We were looking for bullish trigger that didnt happen and now since long trade setup is not valid anymore, we are looking for new one.
H4 time frame : https://www.tradingview.com/x/yTiPctsS/
If you scroll up and check our post 3 days ago, you will see that we mentioned EMA 50. We thought it could offer short scalp opportunity but it looks like it was enough for swing opportunity too.
It tried to cross above EMA 50 several times but got rejected every time.
It is now very close to major potential supports starting from yellow box that is important price point, further down to red line that is important swing point all the way down to green area that serves like the last support before new potential bloodbath.
Our long setup was invalidated that could target even 5500 but it doesn't mean that we can't see some more bull action but this time up moves will probably be nothing more but better short opportunity.
This is currently no mans land. It could go up, it could go down. Perfect long is invalidated but the price is still above 0.618 fibonacci level so we would not short here but rather wait for some clear signs.
To your success, CS Team!
BTC dominance is currently at 52.5% (+0.4%). The total market cap is currently at $121.9 billion (- $5.3 billion). The market volume of the last 24h was $15.4 billion (- $0.7 billion).
Technical analysis
Daily time frame : https://www.tradingview.com/x/CYYiY2qb/
Our long setup on BTC is invalidated. We took trade 2 days ago and closed in profit around 3800 and after that we are out of the market waiting for next sign. We were looking for bullish trigger that didnt happen and now since long trade setup is not valid anymore, we are looking for new one.
H4 time frame : https://www.tradingview.com/x/yTiPctsS/
If you scroll up and check our post 3 days ago, you will see that we mentioned EMA 50. We thought it could offer short scalp opportunity but it looks like it was enough for swing opportunity too.
It tried to cross above EMA 50 several times but got rejected every time.
It is now very close to major potential supports starting from yellow box that is important price point, further down to red line that is important swing point all the way down to green area that serves like the last support before new potential bloodbath.
Our long setup was invalidated that could target even 5500 but it doesn't mean that we can't see some more bull action but this time up moves will probably be nothing more but better short opportunity.
This is currently no mans land. It could go up, it could go down. Perfect long is invalidated but the price is still above 0.618 fibonacci level so we would not short here but rather wait for some clear signs.
To your success, CS Team!
It is December 29th, 2018
BTC dominance is currently at 52.0% (-0.5%). The total market cap is currently at $131.4 billion (+ $9.5 billion). The market volume of the last 24h was $19.3 billion (+ $3.9 billion).
Technical analysis
4h time frame :https://www.tradingview.com/x/5t2Tjj6J/
After we saw unexpected drop below 3700 area, we saw consolidation area and then spike of $350.
The drop below 3700 didn't give us enough reason for shorting and someone will say this was expected. Expected or not, shorting in that area wouldn't be the good idea since it had a lot of potential support below and the move wouldn't have too much space to drop since one of the supports would probably be strong enough to stop price from further decline.
What we see now is testing of the mentioned area 3930-3950 and that's in our opinion main area that will give us a direction because it will decide if this was just a corrective wave downn before one more impulsive wave up or price already made all its impulsive moves up, formed double top and it is ready for new decline.
Our trading setups are very clear. We will look for longs once we see clear close above 3930. We will look for short once we see clear close below 3400 but it will be more like a scalp since it is very close to supports.
3500-3800 is more like a no trade zone because in that area price doesn't have a trend but just bouncing from one extreme to another.
To your success, CS Team
BTC dominance is currently at 52.0% (-0.5%). The total market cap is currently at $131.4 billion (+ $9.5 billion). The market volume of the last 24h was $19.3 billion (+ $3.9 billion).
Technical analysis
4h time frame :https://www.tradingview.com/x/5t2Tjj6J/
After we saw unexpected drop below 3700 area, we saw consolidation area and then spike of $350.
The drop below 3700 didn't give us enough reason for shorting and someone will say this was expected. Expected or not, shorting in that area wouldn't be the good idea since it had a lot of potential support below and the move wouldn't have too much space to drop since one of the supports would probably be strong enough to stop price from further decline.
What we see now is testing of the mentioned area 3930-3950 and that's in our opinion main area that will give us a direction because it will decide if this was just a corrective wave downn before one more impulsive wave up or price already made all its impulsive moves up, formed double top and it is ready for new decline.
Our trading setups are very clear. We will look for longs once we see clear close above 3930. We will look for short once we see clear close below 3400 but it will be more like a scalp since it is very close to supports.
3500-3800 is more like a no trade zone because in that area price doesn't have a trend but just bouncing from one extreme to another.
To your success, CS Team