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BTCUSD daily price action

  • #441
  • Sep 19, 2019 8:25am Sep 19, 2019 8:25am
BTC: Price: $9,870 | MCAP: $177.75 billion | 24-Hr Volume: $17.27 billion

Short-term trend: Bearish

Bitcoin fell to an 18-day low of $9,600 today validating the bearish setup on the 4-hour chart: a failed wedge breakout followed by a bearish lower high.

A deeper drop to levels below $9,500 could be in the offing. Supporting the bearish case are key indicators like the 14-day relative strength index and the weekly moving average converge histogram.

The bearish case would weaken if prices rise above $10,458, invalidating the bearish lower highs setup on the 4-hour chart. The outlook, however, would turn bullish only if prices print a UTC close above $10,958 – the upper edge of a three-month-long contracting triangle on the daily chart.

The 50- and 100-day moving averages are about to produce a bearish crossover for the first time since September 2018. The long-term MA crossovers, however, are lagging indicator known to trap sellers on the wrong side of the market.

Long-term trend: Neutral
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  • #442
  • Sep 19, 2019 11:23am Sep 19, 2019 11:23am
Well there goes that wedge. Thankful that I was flat, and now I'm back in for some more.
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  • #443
  • Sep 19, 2019 2:05pm Sep 19, 2019 2:05pm
Whats more surprising to me is that it took rather small amount of money to make that drop, I mean someone could just hedge and win... no regulations and all..
But the recovery then seems to be logical... I would be on the BUY side for now But I am done the actual trading for the week... It sure was fun waking into profits
I mean was wrestling with this snake, didn't want to go down, but when it did... it took "the world" with it... It rebounded now

Summary: Would be on the BUY, for now
Can you afford to take that chance?
  • #444
  • Edited 12:30am Sep 20, 2019 12:19am | Edited 12:30am
Quoting auricforecas
Whats more surprising to me is that it took rather small amount of money to make that drop, I mean someone could just hedge and win... no regulations and all.. But the recovery then seems to be logical... I would be on the BUY side for now But I am done the actual trading for the week... It sure was fun waking into profits I mean was wrestling with this snake, didn't want to go down, but when it did... it took "the world" with it... It rebounded now Summary: Would be on the BUY, for now
Hah, crazy, nice.. It went up overnight.... Massive money could be made in this swing...
Can you afford to take that chance?
  • #445
  • Sep 20, 2019 2:56am Sep 20, 2019 2:56am
BTC is at the same price that it was yesterday.
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  • #446
  • Sep 20, 2019 9:59am Sep 20, 2019 9:59am
BTC/USD: Price: $10,200 | MCAP: $183.42 | 24-Hr Volume: $16.97 billion

Short-term trend: Neutral

Bitcoin’s $780 recovery from an 18-day low has neutralized the bearish setup, but a strong follow-through is now needed to put the bulls back in charge.

BTC is changing hands above $10,200. Thursday's bullish hammer candle would gain credence if prices rise above $10,380 today. That will likely invite stronger buying pressure, yielding a test of key resistances in the range of $10,900-$11,000.

Prices may fall back to Thursday’s low of $9,600 if the cryptocurrency fails to hold support above $10,000 in the next 24 hours.

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  • #447
  • Sep 20, 2019 12:40pm Sep 20, 2019 12:40pm
Quoting TMR
BTC/USD: Price: $10,200 | MCAP: $183.42 | 24-Hr Volume: $16.97 billion Short-term trend: Neutral Bitcoin’s $780 recovery from an 18-day low has neutralized the bearish setup, but a strong follow-through is now needed to put the bulls back in charge. BTC is changing hands above $10,200. Thursday's bullish hammer candle would gain credence if prices rise above $10,380 today. That will likely invite stronger buying pressure, yielding a test of key resistances in the range of $10,900-$11,000. Prices may fall back to Thursday’s low of $9,600 if the cryptocurrency...
Thanks for the update We'll probably see 10k tested a few times over the next few weeks if the status quo remains unchanged.
  • #448
  • Sep 20, 2019 12:45pm Sep 20, 2019 12:45pm
I would be OUT of the BTC market for the next week
Just in case, need to re-evaluate, analyse... Next week might be much different than the ones before...
Can you afford to take that chance?
  • #449
  • Sep 20, 2019 3:26pm Sep 20, 2019 3:26pm
Quoting auricforecas
I would be OUT of the BTC market for the next week Just in case, need to re-evaluate, analyse... Next week might be much different than the ones before...
Absolutely! My daily chart still has us in that wedge, and we're really squeezing to the end of it. I think a major breakout is coming, and no one knows which way. Once I think a break is confirmed, I'm jumping in that direction.
  • #450
  • Sep 20, 2019 5:11pm Sep 20, 2019 5:11pm
Quoting vanillaice
{quote} Absolutely! My daily chart still has us in that wedge, and we're really squeezing to the end of it. I think a major breakout is coming, and no one knows which way. Once I think a break is confirmed, I'm jumping in that direction.
Wow man, refreshing to see someone echoing/syncing... So I will wait for it for the next week and than see what trading strategy to pursue... From that I will derive the optimal leverage, aimed TP and form that... the optimal broker... Much differences between them, each might be good or have an edge for particular strategy... But for now, will just wait for at least the first half of the week
Can you afford to take that chance?
  • #451
  • Sep 20, 2019 9:46pm Sep 20, 2019 9:46pm
And the Gold goes, boom!
And the Bitcoin goes, hissssss!

Hehehe, bitcoin is connected only to crypto-whales moods, not to the real world
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  • #452
  • Sep 21, 2019 10:10am Sep 21, 2019 10:10am
Quoting TudorIoan
And the Gold goes, boom! And the Bitcoin goes, hissssss! Hehehe, bitcoin is connected only to crypto-whales moods, not to the real world {image}
I can't wait for bitcoin to pop up in your face!

aaanndd like a lit BBQ propane tank, it's a coming in the form of a delayed reaction!!! "hisssssssss! Hehehe"!BOOM! <--Tudor

In 5...4...3....
The Bigger the Boob, The More Buckles on it's Bra
  • #453
  • Sep 22, 2019 3:43am Sep 22, 2019 3:43am
#BTCUSD - #UPTREND
#Bitcoin short term Trend is #BULLISH

BUY/LONG @ $9995 | 1.00000000Ƀ

Updates
Buy/Long @ $9995 (22 Sept)
PENDING BUY: $9825 - $9755
Calculated risk please !!!
(Do your Risk Management)

Trend is BULLISH, Buy dip if price moves lower ... Trend is your friend

New followers:
No target set... We follow trend until trend changes
Have Fun Guys

Join group
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PA/Algo trader... Flow with the tide, not against it
  • #454
  • Sep 23, 2019 1:13pm Sep 23, 2019 1:13pm
Quoting auricforecas
I would be OUT of the BTC market for the next week Just in case, need to re-evaluate, analyse... Next week might be much different than the ones before...
Glad I am not in a trade.. It is deflating... Not quite sure where it will be next week but it sure does seem as a SELL atm, at least to ride this momentum/trajectory - one would need to recognise when to CLOSE of course, but for the moment I would just ride the SELL momentum that seems strong
Can you afford to take that chance?
  • #455
  • Sep 23, 2019 1:52pm Sep 23, 2019 1:52pm
Quoting auricforecas
{quote} Glad I am not in a trade.. It is deflating... Not quite sure where it will be next week but it sure does seem as a SELL atm, at least to ride this momentum/trajectory - one would need to recognise when to CLOSE of course, but for the moment I would just ride the SELL momentum that seems strong
My sentiment is a buy opportunity is opening, I'll see you on the other side!
  • #456
  • Sep 23, 2019 1:57pm Sep 23, 2019 1:57pm
Quoting Hasher
{quote} My sentiment is a buy opportunity is opening, I'll see you on the other side!
Yeah maybe, but I might be already there.. I prefer both sides, that is the key of real success...
https://getyarn.io/yarn-clip/6a27cb6...3-09898eacda25

Still, would advise to anyone atm, if they are not too fanatical, believers etc... just RIDE the momentum.... I mean BTC is one of the best for this.. has been for quite some time... I mean if one would only sell above 10 and/or buy below 10 (for some months now).. at not be over-leveraging... (if that is the only thing he would be doing without further "expertise"...)... he would be pulling mad p. atm
Can you afford to take that chance?
  • #457
  • Sep 23, 2019 2:39pm Sep 23, 2019 2:39pm
Quoting auricforecas
{quote} Yeah maybe, but I might be already there.. I prefer both sides, that is the key of real success... https://getyarn.io/yarn-clip/6a27cb6...3-09898eacda25 Still, would advise to anyone atm, if they are not too fanatical, believers etc... just RIDE the momentum.... I mean BTC is one of the best for this.. has been for quite some time... I mean if one would only sell above 10 and/or buy below 10 (for some months now).. at not be over-leveraging... (if that is the only thing he would be doing without further "expertise"...)......
Agreed. Regardless of the long term beliefs or conviction, a trader has to ride momentum in the short-medium runs. That being said, I see us at the end of a tight consolidation which means I am neutral until the market decides it's next direction.
  • #458
  • Sep 24, 2019 12:19am Sep 24, 2019 12:19am
Quoting auricforecas
{quote} Glad I am not in a trade.. It is deflating... Not quite sure where it will be next week but it sure does seem as a SELL atm, at least to ride this momentum/trajectory - one would need to recognise when to CLOSE of course, but for the moment I would just ride the SELL momentum that seems strong
Well it seemed to be the right choice
Can you afford to take that chance?
  • #459
  • Sep 24, 2019 4:37am Sep 24, 2019 4:37am
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Let's take a wide view on Bitcoin/USD market. I use 3D TF and average data from 5 Major exchanges.

Read the Chart:
1) No Supply under 9k

2) The surge of demand broke out 9k resistance.

So, we have 9k support after 1+2 actions.

3) Buying culmination above 12k. Check Google Trends. "Bitcoin price" was extra-popular on the 25-20/Jun days. This is a sign of FOMO Climax.

4) Bounce up from 9k Support. If the market were bullish, it should overcome the Jun/July highs. However, we got only a fake breakout of 12k level (5)

6) The second bounce up from 9k support. What the result? Price did not even reach 11k.

Well, the inability of market to rally after bounces from support line - is the bearish sign. The last 4 red bars have low volume. Why trading activity is low? If market has a lack of buyers (demand), then we should expect the breakdown of 9k line with an increase in volume (supply pressure). In this case, decline should develop down to 6k support.
Oleg Alexandrov, market analyst. Find me in Google
  • #460
  • Sep 24, 2019 1:57pm Sep 24, 2019 1:57pm
Quoting auricforecas
{quote} Glad I am not in a trade.. It is deflating... Not quite sure where it will be next week but it sure does seem as a SELL atm, at least to ride this momentum/trajectory - one would need to recognise when to CLOSE of course, but for the moment I would just ride the SELL momentum that seems strong
Quoting auricforecas
{quote} Well it seemed to be the right choice
I am happy you made money with my posts...

Or "not losing it" with below post, if you were unsure..

Quoting auricforecas
I would be OUT of the BTC market for the next week Just in case, need to re-evaluate, analyse... Next week might be much different than the ones before...
Why do I reply to my posts?.. Because I take my posts ("predictions") quite seriously....
Can you afford to take that chance?
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