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BTCUSD daily price action

  • #581
  • Oct 28, 2019 4:18am Oct 28, 2019 4:18am
RSI is overbought and currently in a falling channel on the 4H chart.

A re-test of $8,800 could be in play.
Money = Labour coupons
  • #582
  • Oct 28, 2019 12:10pm Oct 28, 2019 12:10pm
BTC: Price: $9,380 | MCAP: $169 Billion | 24-Hr Volume: $32.74 Billion

Short-term trend: Cautiously Bullish

Bitcoin jumped 16 percent, confirming the biggest weekly gain since June. The big move invalidated a bearish lower highs setup on the daily chart, confirming a bullish reversal. The cryptocurrency has repeatedly struggled to keep gains above $10,000 over the three days – a sign of temporary buyer exhaustion.

Further, the 4-hour chart is reporting a bearish divergence of the relative strength index. Bitcoin, therefore, risks revisiting the former resistance-turned-support of $8,820 in the next 24 hours or so.

Some prominent analysts are worried that the market optimism with respect to China accelerating the adoption of blockchain technology is premature, as the nation is building its own digital currency and may continue to block BTC and other cryptocurrencies. BTC therefore, could trim at least a part of the gains seen on Friday.

Long-term trend: Bullish
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  • #583
  • Oct 28, 2019 1:58pm Oct 28, 2019 1:58pm
Quoting olegchartist
Some good news from China has arrived. What the chart is telling? 1) The highest volume on up-bar with next bar down. A lot of SLs of sellers were triggered when price broke out above 10k. Many FOMO-buyers and their bots entered long (they planned new ATH above 20k). But what did happen next? 2) ND - attempt to advance on low volume. Weak activity caused by lack of buyers - BTC is too expensive around 9800. Next SB confirmed ND. 3) The decline culminated in Panic Selling bar around 9k. What next? We got Panic+SLKB+NS sequence around 9k. 4) So, the...
I appreciate the use of the stock photo girl on your chart!
Quoting TMR
BTC: Price: $9,380 | MCAP: $169 Billion | 24-Hr Volume: $32.74 Billion Short-term trend: Cautiously Bullish Bitcoin jumped 16 percent, confirming the biggest weekly gain since June. The big move invalidated a bearish lower highs setup on the daily chart, confirming a bullish reversal. The cryptocurrency has repeatedly struggled to keep gains above $10,000 over the three days – a sign of temporary buyer exhaustion. Further, the 4-hour chart is reporting a bearish divergence of the relative strength index. Bitcoin, therefore, risks revisiting the...
The more TA articles I read about crypto, the more I'm inclined to follow my dog or a clown into a trade. Literally no one can (somewhat) accurately forecast prices in crypto, except some anon on 4chan evidently. I'm starting to think TA should remain in the other markets for awhile until it matures.
  • #584
  • Oct 28, 2019 2:28pm Oct 28, 2019 2:28pm
Quoting cityRat
{quote} I appreciate the use of the stock photo girl on your chart! {quote} The more TA articles I read about crypto, the more I'm inclined to follow my dog or a clown into a trade. Literally no one can (somewhat) accurately forecast prices in crypto, except some anon on 4chan evidently. I'm starting to think TA should remain in the other markets for awhile until it matures.
Or how about giving someone credit for trying and give a technical/fundamental view as to why it will or won't, I assume those trading/buying have some guidance if not themselves then something and not just when they think, sometimes good discussion can work, pull together not apart, amalgamate the threads and think as one, if you all have an interest, why not.
I don't need to be good at the game, only good enough to beat my opponent,
  • #585
  • Oct 29, 2019 1:12am Oct 29, 2019 1:12am
Quoting cityRat
{quote} I appreciate the use of the stock photo girl on your chart! {quote} The more TA articles I read about crypto, the more I'm inclined to follow my dog or a clown into a trade. Literally no one can (somewhat) accurately forecast prices in crypto, except some anon on 4chan evidently. I'm starting to think TA should remain in the other markets for awhile until it matures.
What TA ? Where? ...oh, the TLs (trend lines) and S/Rs ? Plenty of them !

Just sell the tops! Safe deal! Sooner or later it will fall for sure !
(watch your margin carefully, and don't gamble on money you can't afford to lose!)
Member
  • #586
  • Edited 3:10am Oct 29, 2019 2:04am | Edited 3:10am
My Daily TA

It looks like 10,000 it's the reasonable middle between the pump level and the dump level

I guess the manipulators are aware now of the crucial importance to create the illusion of stability.
Stability is much more attractive than insane pumping ...

Why?
Because they need to seem attractive for the investors. The big money. The smart money.
But those fkn pricks are conservative, prudent...
Volatility it's their fearsome enemy.

Now, if the crypto crooks do manipulate, they must manipulate to create the illusion of stability,
not the insanity of a bubble for the greedy stupid wannabe!

They need serious investors to save their shit!
...otherwise, this shit-coin already reached its critical mass of dreamers, FOMOs, passionate coders, freaks, stups, greeds, nerds, crooks, anarchists, criminals...
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  • #587
  • Oct 29, 2019 8:14am Oct 29, 2019 8:14am
BTC: Price: $ 9,400 | MCAP: $ 170 trillion | 24-hr volume: $ 27.54 Billion

Short-term trend: Cautiously Bullish

BTC's daily chart shows the 100-day average resistance - a sign of buyer exhaustion. Monday's big red candle with a long upper shadow is also echoing similar sentiments.

The probability of BTC diving out of the hourly chart contracting triangle is high. If a breakdown confirmed it would strengthen the case for a continued resistance-turned-support of $ 8,820.

China's state media warned against irrational exuberance after investors cheered President Xi Jinping's encouraging comments on blockchain adoption by sending blockchain-related stocks surging on Monday.

The comments by China's state media may force investors back to lofty expectations, leading to a price drop.

Long-term trend: Bullish
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  • #588
  • Oct 29, 2019 12:10pm Oct 29, 2019 12:10pm
Quoting detector
{quote} Or how about giving someone credit for trying and give a technical/fundamental view as to why it will or won't, I assume those trading/buying have some guidance if not themselves then something and not just when they think, sometimes good discussion can work, pull together not apart, amalgamate the threads and think as one, if you all have an interest, why not.
I appreciate their effort.. but predicting the more traditional markets seems to be a little more reliable. All too often a whale can come in and ruin all the models.
  • #589
  • Oct 29, 2019 1:29pm Oct 29, 2019 1:29pm
Quoting cityRat
{quote} I appreciate their effort.. but predicting the more traditional markets seems to be a little more reliable. All too often a whale can come in and ruin all the models.
Don Pato has an excellent thread on FF, he/she talks about volume, I call it activity, all markets revolve around buying and selling/activity, even bit coin, as a more primitive indicator, this alone can be a sole way to give the 51-49% edge, below is my posts, while I'm not the best I made a simple analysis and took a punt on the direction, to my advantage it did go and a stella rise at that, I suggested a pullback on the weekly, as it looked to me, It may have just been my timing (have had an eye on this for a while) if it was, it was great timing however, think a little bit of analysis went a long way, it can work.

Hello all, haven't read from the start so make my apologies, I'm keen on bit coin and bought in at 7523.80, I was expecting it to go lower but the 4hr threw some good volume/activity up so made my play, I was expecting an entry at 5000 but feel it may not go that low, that said, the kiss of death, the thought of the fed cutting will only make this more lucrative, markets are calling for easing so hope this will make good cause to be a buyer, nice to meet you all, Detector

Caught up, all read, sorry you all had to follow this down, seems your enthusiasm is something I share, anyhow, will go back under my stone, hope you reap some rewards for your patience, 4rh volume/activity on present bar is creeping up, I would hope this is positive, you never can tell, spike averaging more than the usual over the last few days, previous bar printed volume/activity akin in around 9 Oct that gave cause to rise, good trading, Detector.


EDIT
Gaps close so would expect the price to do so, because it can be traded over the weekend, I'm not sure how this plays out, understandably so can currencies in general but not the way we go about it.
I don't need to be good at the game, only good enough to beat my opponent,
  • #590
  • Oct 29, 2019 5:32pm Oct 29, 2019 5:32pm
Not much BTC/USD action today. FOMC should do ... something... tomorrow
  • #591
  • Oct 30, 2019 8:35am Oct 30, 2019 8:35am
BTC: Price: $9,100 | MCAP: $165 Billion | 24-Hr Volume: $28.67 Billion

Short-term trend: Neutral

Bitcoin is on track to end a three-month losing streak after recovering from recent lows around $7,400 seen a week ago. BTC is currently up nearly 11 percent from the monthly opening price of $8,304.

The percentage rise could drop into single digits as the repeated failure to scale the 100-day average is indicating buyer exhaustion. BTC is trending towards the bottom of a contracting triangle on the hourly chart, therefore risks falling to $8,800 in the next 24 hours.

The outlook would turn bullish if the consolidation seen on the hourly chart ends with a high-volume breakout. That could yield a quick move above $10,000.

Long-term trend: Bullish
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  • #592
  • Oct 30, 2019 9:04am Oct 30, 2019 9:04am
Quoting TMR
BTC: Price: $9,100 | MCAP: $165 Billion | 24-Hr Volume: $28.67 Billion Short-term trend: Neutral Bitcoin is on track to end a three-month losing streak after recovering from recent lows around $7,400 seen a week ago. BTC is currently up nearly 11 percent from the monthly opening price of $8,304. The percentage rise could drop into single digits as the repeated failure to scale the 100-day average is indicating buyer exhaustion. BTC is trending towards the bottom of a contracting triangle on the hourly chart, therefore risks falling to $8,800 in...
If price trades down toward $8,800 buyers are expected to be leaning off of that support area (resistance taken out on Oct 25th which should not act as support). I know I will be taken profit there from yesterday's short on the daily time frame from the inside bar setup and getting long.
  • #593
  • Oct 30, 2019 10:57am Oct 30, 2019 10:57am
Bitcoin's drifting below the pivot... if it goes much further down I don't expect it to bounce up any time soon. Notice my SL right below it
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  • #594
  • Oct 30, 2019 11:00am Oct 30, 2019 11:00am
Quoting detector
{quote} Don Pato has an excellent thread on FF, he/she talks about volume, I call it activity, all markets revolve around buying and selling/activity, even bit coin, as a more primitive indicator, this alone can be a sole way to give the 51-49% edge, below is my posts, while I'm not the best I made a simple analysis and took a punt on the direction, to my advantage it did go and a stella rise at that, I suggested a pullback on the weekly, as it looked to me, It may have just been my timing (have had an eye on this for a while) if it was, it was...
I'll check it out DonPato's thread - and you're welcome here as far as I'm concerned.
  • #595
  • Oct 30, 2019 11:42am Oct 30, 2019 11:42am
Quoting cityRat
{quote} I'll check it out DonPato's thread - and you're welcome here as far as I'm concerned.
Very kind words and thank you, I will keep up any relative info, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #596
  • Oct 30, 2019 1:06pm Oct 30, 2019 1:06pm
Quoting cryptocow
Not much BTC/USD action today. FOMC should do ... something... tomorrow
Looks like FOMC brought us a whole lotta nuthin.
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  • #597
  • Oct 30, 2019 1:20pm Oct 30, 2019 1:20pm
Quoting cityRat
{quote} Looks like FOMC brought us a whole lotta nuthin. {image}
Why did people expect different? There's never really been a correlation here.
  • #598
  • Oct 30, 2019 2:53pm Oct 30, 2019 2:53pm
Quoting cityRat
Bitcoin's drifting below the pivot... if it goes much further down I don't expect it to bounce up any time soon. Notice my SL right below it {image}
It feels like we are headed to your SL before your TP... if I read your chart correctly that is. In fact, that is about the range I expect us to bounce between for a while now. After a while of that, we'll break out somewhere and consolidate on some new level... hopefully back in the 5 figure range.
  • #599
  • Oct 30, 2019 5:06pm Oct 30, 2019 5:06pm
Quoting cityRat
{quote} Looks like FOMC brought us a whole lotta nuthin. {image}
Pretty much.

I got .033 BTC this morning @ $9,079 before FOMC. BTC is up to $9,177 now.
  • #600
  • Oct 31, 2019 7:57am Oct 31, 2019 7:57am
Quoting vanillaice
{quote} It feels like we are headed to your SL before your TP... if I read your chart correctly that is. In fact, that is about the range I expect us to bounce between for a while now. After a while of that, we'll break out somewhere and consolidate on some new level... hopefully back in the 5 figure range.
Still in there!! Just gliding along that pivot.....
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