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BTCUSD daily price action

  • #481
  • Sep 27, 2019 2:48pm Sep 27, 2019 2:48pm
Quoting auricforecas
It seems that only TWO types of people made money (or preserving it) in BTCUSD trade this week... The ones that stayed out of the market (aka not trading)... Or in the other words, the ones that synced with this post: {quote} Or the ones that SHORTed in... Or in another words... the ones that synced with this post: {quote} AND bonus.. also maybe the wizards made money, the ones that MIGHT somewhat manage to profit on the small rebound(s) (with high-leverage)... But if they can be so precise... In other words.. I couldn't suggest those, for this...
I just about broke even, I'll take it
  • #482
  • Sep 27, 2019 5:05pm Sep 27, 2019 5:05pm
Looks like we're regaining some lost ground:
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  • #483
  • Sep 28, 2019 2:46am Sep 28, 2019 2:46am
Quoting Hasher
Looks like we're regaining some lost ground: {image}
Past couple weeks have been a series of crashes followed by a steady recovery, with the crashes winning out overall.

That tells me we have a strong market with a big seller. A very big seller.

You guys know where I'm going with this.
  • #484
  • Edited 5:03am Sep 28, 2019 4:39am | Edited 5:03am
Quoting cityRat
WTF IS HAPPENING {image}
Sorry guys. I just got done climbing Mt Kilimanjaro to see BTC has corrected by 20%. Looks like someone pulled the plug on a bunch of miners. Also Bakkt had an underwheming 24-hour trade volume after the launch of the Bakkt futures exchange with only 71 BTC as opposed to 5,298 BTC for CME; which equals to 75x less trading volume.
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  • #485
  • Sep 28, 2019 8:14am Sep 28, 2019 8:14am
Quoting TMR
{quote} Sorry guys. I just got done climbing Mt Kilimanjaro to see BTC has corrected by 20%. Looks like someone pulled the plug on a bunch of miners. Also Bakkt had an underwheming 24-hour trade volume after the launch of the Bakkt futures exchange with only 71 BTC as opposed to 5,298 BTC for CME; which equals to 75x less trading volume. {image}
Will you double-down on it, meaning high-leverage yourself out/even/profit out of this? I am curious about what happens in the next week... Rebound seems possible, although I would wait for at least the first few days of the next week, just in case of traps...
Can you afford to take that chance?
  • #486
  • Sep 28, 2019 10:56pm Sep 28, 2019 10:56pm
Quoting auricforecas
{quote} Will you double-down on it, meaning high-leverage yourself out/even/profit out of this? I am curious about what happens in the next week... Rebound seems possible, although I would wait for at least the first few days of the next week, just in case of traps...
I’m looking for a leveraged long opportunity. We will see how the market plays out this week.
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  • #487
  • Sep 30, 2019 5:35am Sep 30, 2019 5:35am
OK, let's do update. I use Bitfinex clusters, UTC time.

First of all, what is the context? Price has been moving inside balancing triangle/wedge AB for several days. (Note, it entered the wedge after falling - this fact increases odds for a bearish escape from balancing wedge - this concept often discussed in classical TA).

Second fact - SLKT above 8300. I pointed attention on this Killing of SLs of sellers (and trap for bulls) in Tradunity Main Telegram Chat.

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So, we had the more weakness on background - this is context. What we had next?

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1) Supply wave
2) Supply wave culminated in for of Panic at the level of line B (bottom/support level of balancing wedge).
3) Yes, this is EVRB (small progress for bears)
4) NS (lowering of volume on the level where Panic+EVRB were detected)
5) With a minor sequence of Strength (Panic+EVRB+NS), Bulls tried to push market higher.
6) But their power exhausted quickly. This is No Demand (low volume attempt to go up caused by a lack of buyers). Note, ND appeared just at 50% half way back of decline from SLKT 8350 to Panic 7950
7) SB (I'd like to see higher volume) and confirmation of ND. Bearish Cha Cha. Chart tells you market changed its sentiment. Holding longs became very risky as buyers were not ready to push market above 28/09 SLKT.

What's next?

8) An attempt of bears to break down big AB wedge. Volume was extremely high.
9) This bar tells that bearish attempted was about to fail. Because a lot of activity of this bar was registered above the body of minor balance CD. This is bullish sign and chart tells that bar #8 is likely to be a Big Trap for bears with killing SLs under 26/Sept low.
Oleg Alexandrov, market analyst. Find me in Google
  • #488
  • Sep 30, 2019 12:44pm Sep 30, 2019 12:44pm
Quoting TMR
{quote} I’m looking for a leveraged long opportunity. We will see how the market plays out this week.
You caught it? Seems to be some nice rebound today.
Can you afford to take that chance?
  • #489
  • Sep 30, 2019 1:33pm Sep 30, 2019 1:33pm
I've been keeping an eye on pivots and just signed into my account for the first time this week. Look at that bounce!:
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  • #490
  • Oct 1, 2019 10:17am Oct 1, 2019 10:17am
Quoting TMR
{quote} Sorry guys. I just got done climbing Mt Kilimanjaro to see BTC has corrected by 20%. Looks like someone pulled the plug on a bunch of miners. Also Bakkt had an underwheming 24-hour trade volume after the launch of the Bakkt futures exchange with only 71 BTC as opposed to 5,298 BTC for CME; which equals to 75x less trading volume. {image}
Found the reason https://www.cryptocraft.com/news/951...ing-bitcoin-at
  • #491
  • Oct 2, 2019 7:00am Oct 2, 2019 7:00am
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In the last overview about #BTC market (posted 2 days ago), I wrote:

.. as #BTCUSD is trading above 7900, I expect an attempt to breakout line A.

Since that time, price increased from 7900 to 8200. Let's do update.

1) After break-out of line A...
2) ...price did advance up to 8400. Study carefully the character of up-wave in point 2. It consists of 3 up-bars. Every next up-bar has bigger volume than the previous bar. And every next bar has smaller bullish progress in comparison with the previous up-bar. This is EVRT - big Effort Versus small Result. EVRT tells about Supply swamping Demand. Sellers activated above 8400.

3) This is SLKT - stop-loss killer at the Top. It: a) knocks out sellers who placed their SLs above the high of Point 2 and b) involves bulls in buying. This is pure manipulation. That is why you can see...

4) ... fast decline after SLKT pump bar. The chart tells, market is not interesting in holding above 8400 figure.

5) SLKB brings some bullish impulse to market. But it seems, buyers will not capable to develop a powerful pump and breakout 8400 resistance.

IMO, negative sentiments are growing again
Oleg Alexandrov, market analyst. Find me in Google
  • #492
  • Oct 2, 2019 4:18pm Oct 2, 2019 4:18pm
What daily price action?!
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  • #493
  • Oct 3, 2019 4:16pm Oct 3, 2019 4:16pm
It looks like we will continue to see weakness in BTC for now. Bears seem determined to break that 8k level... something should happen soon
  • #494
  • Oct 4, 2019 6:57pm Oct 4, 2019 6:57pm
Quoting olegchartist
{image} In the last overview about #BTC market (posted 2 days ago), I wrote: .. as #BTCUSD is trading above 7900, I expect an attempt to breakout line A. Since that time, price increased from 7900 to 8200. Let's do update. 1) After break-out of line A... 2) ...price did advance up to 8400. Study carefully the character of up-wave in point 2. It consists of 3 up-bars. Every next up-bar has bigger volume than the previous bar. And...
Hi olegchartist.

What are you using to make your charts?
If you like my post throw me a Doge: D85YHaQ6nQTp4oT13sHoAZbETn3sADVnF8
  • #495
  • Oct 7, 2019 8:23am Oct 7, 2019 8:23am
BTC: Price: $8,165 | MCAP: $145.00 Billion | 24-Hr Volume: $15.39 Billion

Short-term trend: Bearish

A historically strong support has again saved the day for bitcoin bulls.

The leading cryptocurrency ran into offers over the weekend and found acceptance below $8,000. The sell-off, however, ran out of steam near the 100-week moving average (MA) support at $7.753 in the Asian trading hours today, allowing prices to rise back above $8,000.

Note that the long-term MA acted as strong support in the preceding two weeks and during the early stages of the previous bull market.

Hence, the latest bounce from the 100-week MA may excite both short-term traders and long-term investors, yielding a stronger corrective rally.

The daily chart indicators are also calling a corrective bounce to the 200-day MA resistance at $8,564. A violation there would expose resistance at $8,833 (June high), as per Bitstamp data.

If prices find acceptance below the 100- week MA, the case for a corrective rally would weaken and the cryptocurrency would likely drop to $7,200.

Long-term trend: Bearish

Bitcoin closed below $9,049 on Sept. 30, confirming a bearish inside bar candlestick reversal on the monthly chart.

The cryptocurrency had charted consecutive inside bar candlesticks in July and August, indicating indecision or consolidation.

The tug of war between the bulls and the bears ended with a 20 percent drop in September. Further, the weekly relative strength index is now reporting bearish conditions with a below-50 print.
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  • #496
  • Oct 7, 2019 7:20pm Oct 7, 2019 7:20pm
Quoting TMR
Short-term trend: Bearish Long-term trend: Bearish
I'm not too optimistic on BTC right now either, bud. Stay safe out there and try to improve positions where you can!
  • #497
  • Edited 8:28am Oct 8, 2019 12:55am | Edited 8:28am
Bioung!
Read manipulation !
The third bounce on 7,750 ...let's hope this is not a dead cat ...let's hope is a flying pig
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  • #498
  • Oct 8, 2019 8:58am Oct 8, 2019 8:58am
BTC: Price: $8,220 | MCAP: $147.92 Billion | 24-Hr Volume: $17.63 Billion

Short-term trend: Neutral

Bitcoin jumped 4.47 percent on Monday, the biggest single-day rise since Sept. 2. More importantly, the cryptocurrency created a bullish outside bar candlestick pattern on the daily chart, warning of an impending bullish reversal.

Further, the MACD histogram, an indicator used to identify trend strength and trend changes, has crossed above zero, confirming a bullish reversal. Meanwhile, the daily line chart is reporting a bullish divergence of the 14-day relative strength index (RSI).

BTC looks set to challenge Oct. 1’s high of $8,531 in the short-term. A UTC close above that level would invalidate the bearish lower highs pattern.

The case for a drop to $7,200 would strengthen if prices find acceptance under the 100-week MA at $7,756 although as of now that looks unlikely.

Long-term trend: Cautiously Bearish
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  • #499
  • Oct 9, 2019 8:36am Oct 9, 2019 8:36am
BTC: Price: $8,200 | MCAP: $147.41 Billion | 24-Hr Volume: $14.23 Billion

Short-term trend: Neutral

Federal Reserve's President Jerome Powell on Tuesday said that the central will soon begin expanding its balance sheet in order to ensure the smooth functioning of the “overnight” or short-term lending markets.

The markets believe the Fed’s latest operation is nothing but round four of quantitative easing (QE). The inflation-boosting measure is seen as a long-term positive development for bitcoin by crypto market experts.

However, it hasn’t yet buoyed the cryptocurrency’s price, which is consolidating around $8,200.

BTC has spent last 24 hours trading the narrow range of $8,100-$8,300.

Even so, the path of least resistance remains to the higher side, as prices are holding well above $7,763, keeping Monday's bullish outside bar candlestick pattern valid.

The daily chart indicators have also turned bullish over the last two days. Prices could rise to $8,600 in the short-term.

Long-term trend: Cautiously Bearish

The path of least resistance is to the downside and a drop to $7,000 or even lower could be see in the next few weeks. The bearish case would strengthen once the 100-week MA support is breached.

The bearish setup would be invalidated if and when prices find acceptance above the former support-turned-resistance of $9,049.
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  • #500
  • Oct 9, 2019 9:30am Oct 9, 2019 9:30am
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