#BTC update
Don't get lost in the euphoria. As positions are starting to reach crazy targets, get comfortable taking some profits. We want to be crazy bullish but the truth is there will be a pullback and it is always smart to secure some money.
You never know when we might get a flash crash pullback, but TA says that there're high chances to reverse this week (Today-tomorrow). Why?👇
⚠️ We have a bunch of TD-9 coming on the weekly, daily, 12h timeframes. It's very exciting from a technical point of view to be able to see a confluence of such many things at such an important time.
Also there are signs of bull exhaustion: long upper wick attached to yesterday's candle adds credence to overbought reading on daily RSI. In addition today's candle currently looks like a doji.
📌We think that BTC topped yesterday around 5.3k and now ready for a pullback.
Don't get lost in the euphoria. As positions are starting to reach crazy targets, get comfortable taking some profits. We want to be crazy bullish but the truth is there will be a pullback and it is always smart to secure some money.
You never know when we might get a flash crash pullback, but TA says that there're high chances to reverse this week (Today-tomorrow). Why?👇
⚠️ We have a bunch of TD-9 coming on the weekly, daily, 12h timeframes. It's very exciting from a technical point of view to be able to see a confluence of such many things at such an important time.
Also there are signs of bull exhaustion: long upper wick attached to yesterday's candle adds credence to overbought reading on daily RSI. In addition today's candle currently looks like a doji.
📌We think that BTC topped yesterday around 5.3k and now ready for a pullback.
#BTC
The weekly chart is coming up to the 50-Week MA, which is at ~ 5650 by now.
Current week is looking like a reversal candle (doji at the top). The drop is imminent, but there's something to pay attention to.
👉 Today BTCUSD shorts have hugely dropped within a minute. Someone very large just gave up on shorting BTC for now.
👉 BTC is forming an ascending triangle on the 1h chart. Target is ~ 5650 which is right in line with horizontal resistance.
💭 We still have room to the upside. We can even make it all the way to 6k resistance and still be in a bearish market. Let’s see how this week concludes.
The weekly chart is coming up to the 50-Week MA, which is at ~ 5650 by now.
Current week is looking like a reversal candle (doji at the top). The drop is imminent, but there's something to pay attention to.
👉 Today BTCUSD shorts have hugely dropped within a minute. Someone very large just gave up on shorting BTC for now.
👉 BTC is forming an ascending triangle on the 1h chart. Target is ~ 5650 which is right in line with horizontal resistance.
💭 We still have room to the upside. We can even make it all the way to 6k resistance and still be in a bearish market. Let’s see how this week concludes.
MACD, RSI, CMF say we are loosing momentum, so we are skeptical on this ascending triangle. This is not one of those ascending triangles that we think has a 70% chance of breaking out to the upside.
XBTUSD 📉Short
Entry points: 5260 (10%); 5440 (10%)
Leverage: 5x
Target 1: 5080
Target 2: 4940
Stop 5500 (if the stop is hit, you will lose 2.4% of the deposit)
XBTUSD 📉Short
Entry points: 5260 (10%); 5440 (10%)
Leverage: 5x
Target 1: 5080
Target 2: 4940
Stop 5500 (if the stop is hit, you will lose 2.4% of the deposit)
CryptoBullet
MACD, RSI, CMF say we are loosing momentum, so we are skeptical on this ascending triangle. This is not one of those ascending triangles that we think has a 70% chance of breaking out to the upside. XBTUSD 📉Short Entry points: 5260 (10%); 5440 (10%) Leverage:…
Second target reached ✅ Profit 41%!
Congratulations to those who followed the signal.
Congratulations to those who followed the signal.
XRP/BTC
XRP looks pretty good from here as we approach the support trendline (make it📈 or break it📉)
RSI oversold + possible higher low. Divergence would be first sign of bear exhaustion.
Also forming a mega bull div. on the CMF on the daily and 4h
Everything here screams bull party.
❗️Always practice risk management
XRP looks pretty good from here as we approach the support trendline (make it📈 or break it📉)
RSI oversold + possible higher low. Divergence would be first sign of bear exhaustion.
Also forming a mega bull div. on the CMF on the daily and 4h
Everything here screams bull party.
❗️Always practice risk management
#BTC Weekly
On the weekly chart we see that the previous week closed as a doji at the top, which looks like a potential evening star doji pattern (bearish reversal formation). 4600-4800 is the first target zone for the correction.
The price still has room for some upside, but it's limited by the 50-Week MA (currently at 5550): we may get to it and reverse there.
📌 Pay attention to the 50-Week MA, 50-Week EMA & 100-Week EMA. Look how they nicely align and form a significant resistance cluster. Again! Back in 2015 they rejected the price which led to a very nasty 30% drop.
This time around it may be different and we will blast through the MAs (which is doubtful), but buying at a strong resistance is not a good idea.
On the weekly chart we see that the previous week closed as a doji at the top, which looks like a potential evening star doji pattern (bearish reversal formation). 4600-4800 is the first target zone for the correction.
The price still has room for some upside, but it's limited by the 50-Week MA (currently at 5550): we may get to it and reverse there.
📌 Pay attention to the 50-Week MA, 50-Week EMA & 100-Week EMA. Look how they nicely align and form a significant resistance cluster. Again! Back in 2015 they rejected the price which led to a very nasty 30% drop.
This time around it may be different and we will blast through the MAs (which is doubtful), but buying at a strong resistance is not a good idea.
#BTC
⚠️ Bitcoin golden cross is going to happen in 2 days. Technically speaking, this is a strong bullish signal. But don't get overexcited!
If you think the Market will not shake out weak hands one more time, take a look at what happened during the last bear market when the golden cross was about to take place: BTC pulled back by around 37%.
Does it mean that the history will repeat the same way? It's possible, but unlikely, because it's too obvious.
We admit that bulls are very present. Ascending triangle on 1D time frame, and it's more clear on the 4h. We’ve hung around the 5350 zone for way too long similarly to the way we had hung around 4k before we saw that $1k jump.
📌 Daily RSI has been moving in the ascending channel. It looks like we bounced off the support one more time, which adds credence to the breakout of the ascending triangle to the upside. But sooner or later the RSI will break down the channel.
⚠️ Bitcoin golden cross is going to happen in 2 days. Technically speaking, this is a strong bullish signal. But don't get overexcited!
If you think the Market will not shake out weak hands one more time, take a look at what happened during the last bear market when the golden cross was about to take place: BTC pulled back by around 37%.
Does it mean that the history will repeat the same way? It's possible, but unlikely, because it's too obvious.
We admit that bulls are very present. Ascending triangle on 1D time frame, and it's more clear on the 4h. We’ve hung around the 5350 zone for way too long similarly to the way we had hung around 4k before we saw that $1k jump.
📌 Daily RSI has been moving in the ascending channel. It looks like we bounced off the support one more time, which adds credence to the breakout of the ascending triangle to the upside. But sooner or later the RSI will break down the channel.
Bitcoin grows in bubbles. Have we seen the final BTC bouble ?
Let’s compare BTC 2017 bubble to Dot com bubble.
Did BTC have its big bubble (like 2000y Dot com) already ?
💡 We think there is going to be far bigger bubble around 2023. In terms of the Internet bubble, 2017 was not the year 2000 (the top), we are just in 1994 and there is still huge room for future bubble.
🚀 The real crypto bubble will be bigger than the Internet bubble, because:
• There is more wealth in the world today
• The value of all equity is about 17T USD, the value of all money and stores of value is over 100T
• Internet bubble was only about tech stocks, money is much bigger
Dot Com FOMO was more sustained and market wide and global in nature considering the mainstream investors including institutional investors were involved.
📌 It will be this way for at least 3 more bubbles. The value of BTC is not tied to its usage so strong fundamentals will not stop the speculators to form bubbles.
Let’s compare BTC 2017 bubble to Dot com bubble.
Did BTC have its big bubble (like 2000y Dot com) already ?
💡 We think there is going to be far bigger bubble around 2023. In terms of the Internet bubble, 2017 was not the year 2000 (the top), we are just in 1994 and there is still huge room for future bubble.
🚀 The real crypto bubble will be bigger than the Internet bubble, because:
• There is more wealth in the world today
• The value of all equity is about 17T USD, the value of all money and stores of value is over 100T
• Internet bubble was only about tech stocks, money is much bigger
Dot Com FOMO was more sustained and market wide and global in nature considering the mainstream investors including institutional investors were involved.
📌 It will be this way for at least 3 more bubbles. The value of BTC is not tied to its usage so strong fundamentals will not stop the speculators to form bubbles.
#BTC
💭 Opinion on the Bitfinex situation:
There have been several signs from the TA perspective that price was topping out naturally. The news acted just as a catalyst to bring the price down and finally test 5k.
When the price is exhausted, the smallest piece of news can set it off. The market had already been going down for 1 day before the news broke.
"As a short term trader, should I buy the dip yet or not?" Not yet. There are small chances that 5k is gonna hold the price. Would not recommend to try to catch this falling knife.
The daily RSI finally broke down the channel, which we've been anticipating.
On the weekly chart we got rejected by 50-Week MA and we're not gonna pass it this week for sure. This can set off a full long pullback as low as to 4k, and if the price doesn't bounce strong off 4k area, BTC is in trouble. For continuation to 6k bulls must maintain 4650-4800 zone.
⚠️ One more thing to consider: BTC Longs on Bitfinex are at the lowest level since the 31st of December 2017 (!) while BTC Shorts are sharply rising.
💭 Opinion on the Bitfinex situation:
There have been several signs from the TA perspective that price was topping out naturally. The news acted just as a catalyst to bring the price down and finally test 5k.
When the price is exhausted, the smallest piece of news can set it off. The market had already been going down for 1 day before the news broke.
"As a short term trader, should I buy the dip yet or not?" Not yet. There are small chances that 5k is gonna hold the price. Would not recommend to try to catch this falling knife.
The daily RSI finally broke down the channel, which we've been anticipating.
On the weekly chart we got rejected by 50-Week MA and we're not gonna pass it this week for sure. This can set off a full long pullback as low as to 4k, and if the price doesn't bounce strong off 4k area, BTC is in trouble. For continuation to 6k bulls must maintain 4650-4800 zone.
⚠️ One more thing to consider: BTC Longs on Bitfinex are at the lowest level since the 31st of December 2017 (!) while BTC Shorts are sharply rising.
⚠️ Temporary Tether collapses have never evolved into something serious, but it doesn't mean that one day Tether will not be shut down.
📌 What's important here is not to sell fear just because of rumors or lies being presented as fact.
[ Same with Crypto bans. People report the same country is banning Crypto about once a month ]
It's clear that stable coin shouldn't have so much controversy. We all fed up with regular FUD around Tether.
That's why we've constantly asked you to be cautious with USDT. Fortunately, there are other stable coins to use.
📌 What's important here is not to sell fear just because of rumors or lies being presented as fact.
[ Same with Crypto bans. People report the same country is banning Crypto about once a month ]
It's clear that stable coin shouldn't have so much controversy. We all fed up with regular FUD around Tether.
That's why we've constantly asked you to be cautious with USDT. Fortunately, there are other stable coins to use.
📈 Impressive up move from BTC
Very important is how the week will close.
50-Week MA was very critical for the price in 2014, 2015 and 2018.
If we close above it, then we're likely going to make a run to that resistance zone marked on the daily chart.
Very important is how the week will close.
50-Week MA was very critical for the price in 2014, 2015 and 2018.
If we close above it, then we're likely going to make a run to that resistance zone marked on the daily chart.
#BTC
📌On the daily chart BTC has been moving in the ascending channel. Currently we are at the upper resistance line and in the zone of resistance, and looks like we are overcoming it as it’s not the first time BTC tries to challenge it.
Now let’s take into consideration some facts:
- Major resistance level is coming up for BTC
- Volume tells we might be running out of fuel.
- Bearish div on the RSI
So, bears are still alive. And could even test the support of the channel.
❗️Keep in mind: We are not in a bull run yet (because you can’t have a bull run with declining moving averages on the weekly)
📌On the daily chart BTC has been moving in the ascending channel. Currently we are at the upper resistance line and in the zone of resistance, and looks like we are overcoming it as it’s not the first time BTC tries to challenge it.
Now let’s take into consideration some facts:
- Major resistance level is coming up for BTC
- Volume tells we might be running out of fuel.
- Bearish div on the RSI
So, bears are still alive. And could even test the support of the channel.
❗️Keep in mind: We are not in a bull run yet (because you can’t have a bull run with declining moving averages on the weekly)
CryptoBullet
📈 Impressive up move from BTC Very important is how the week will close. 50-Week MA was very critical for the price in 2014, 2015 and 2018. If we close above it, then we're likely going to make a run to that resistance zone marked on the daily chart.
Previous week closed above the 50-Week MA, now we have a full candle opening above the MA even though we are in the beginning of the week. That is bullish. Bulls need to break 100-Week MA. Failure to breach it will result in a nasty pullback.
#BTC
Bulls are still in control smashing resistance levels one by one. Tremendous level of resistance starts at 6100, so we are pretty much intrigued.
Oh, also we are now six days away from Consensus 2019!😏
What a coincidence that we are coming up to the major resistance these days, right?
It's premature to say that the channel resistance is broken, because we haven't closed the daily candle. ( We have little concern about the current daily candle because now we are on a TD-9 sell )
📌 Now price is only testing the top of the channel. If we breakthrough then things will get even more exciting, because then the target for the breakout will be 6430, which is in the resistance zone & very closely in line with the 100-Week MA.
🎯 Having said that, looks like Bitcoin is heading to at least 6130. But don't get overexcited. As of now we don't see it pass 6.5k (100-Week MA). The pullback is coming.
Bulls are still in control smashing resistance levels one by one. Tremendous level of resistance starts at 6100, so we are pretty much intrigued.
Oh, also we are now six days away from Consensus 2019!😏
What a coincidence that we are coming up to the major resistance these days, right?
It's premature to say that the channel resistance is broken, because we haven't closed the daily candle. ( We have little concern about the current daily candle because now we are on a TD-9 sell )
📌 Now price is only testing the top of the channel. If we breakthrough then things will get even more exciting, because then the target for the breakout will be 6430, which is in the resistance zone & very closely in line with the 100-Week MA.
🎯 Having said that, looks like Bitcoin is heading to at least 6130. But don't get overexcited. As of now we don't see it pass 6.5k (100-Week MA). The pullback is coming.
So Binance hacked for 7000 Bitcoin worth almost 42 Million Dollars prompting BTC & ETH to dump instantly. Strange coincidence with Bitfinex and Tether FUD, isn't it? As soon as market tries to recover these Black Swans take it down.
These were the Black Swan events everyone has been waiting for 1 year now. All done and dusted. Bitcoin makes the news. News don't make Bitcoin moves. But we would relax on saying the storm is over.
⚠️ Regarding the Binance Hack and all that #SAFU crap. This hack is a pretty dark story & it was never an IF, its a when was going to happen. NOT YOUR KEYS, NOT YOUR COINS
What's interesting, TA predicted the dump fueled by the hack news. Yesterday long before the news broke we said that we had little concern because of the daily TD-9 sell. Then the price dumped by $200 turning daily candle into a shooting star.
❗️Notice the pattern: Bitcoin stopped caring about bad news and keeps moving up after the Tether FUD and Binance Hack.
These were the Black Swan events everyone has been waiting for 1 year now. All done and dusted. Bitcoin makes the news. News don't make Bitcoin moves. But we would relax on saying the storm is over.
⚠️ Regarding the Binance Hack and all that #SAFU crap. This hack is a pretty dark story & it was never an IF, its a when was going to happen. NOT YOUR KEYS, NOT YOUR COINS
What's interesting, TA predicted the dump fueled by the hack news. Yesterday long before the news broke we said that we had little concern because of the daily TD-9 sell. Then the price dumped by $200 turning daily candle into a shooting star.
❗️Notice the pattern: Bitcoin stopped caring about bad news and keeps moving up after the Tether FUD and Binance Hack.
⚡️📰 Breaking: Facebook relaxes its ban on cryptocurrency and blockchain related ads.
According to a Wednesday update released by the company, ads related to blockchain technology, industry news, education or events related to cryptocurrency can now be displayed on Facebook without prior approval.
Users are still required to get pre-approval for ads promoting cryptocurrencies, however.
According to a Wednesday update released by the company, ads related to blockchain technology, industry news, education or events related to cryptocurrency can now be displayed on Facebook without prior approval.
Users are still required to get pre-approval for ads promoting cryptocurrencies, however.