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BTCUSD daily price action

  • #661
  • Nov 11, 2019 4:43am Nov 11, 2019 4:43am
Why did this "Buying" caused decline?
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Answer here:
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Oleg Alexandrov, market analyst. Find me in Google
  • #662
  • Nov 11, 2019 1:25pm Nov 11, 2019 1:25pm
BTC: Price: $8,720 | MCAP: $158 Billion | 24-Hr Volume: $20.41 Billion

Short-term trend: Bearish

BTC has failed for three straight weeks to close (Sunday, UTC) above the 3.5-month trendline sloping downwards from the 2019 high of $13,880.

The inability to pass that level (currently around $9,335) has weakened the bullish case put forward by the high-volume rise from $7,300 to $10,300 on Oct. 25–26.

BTC appears on track to test and possibly breach the 50-day MA at $8,552. A violation there would expose the psychological support of $8,000.

A move above the 3.5-month descending trendline hurdle, currently at $9,335, is needed to confirm a bullish breakout.

Long-term trend: Bullish
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  • #663
  • Nov 12, 2019 4:52am Nov 12, 2019 4:52am
#BTCUSD is staying balanced for a many hours after yesterdays huge Supply Bar (1)

What way will be the balance (2) broke? Good question, everybody want to know, buy nobody can give you guarantee a correct answer. Let's study the balance.

Here (3) bulls have appeared around 8650. They were succeed to stop the decline.

But here (4) bulls were incapable to develop up-movement. This effort of buyers turned into Trap for them.

Taking into account described facts, we have more chances to bearish breakdown of Balance (2)

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  • #664
  • Edited Nov 13, 2019 2:38am Nov 12, 2019 9:34am | Edited Nov 13, 2019 2:38am
BTC: Price: $8,640 | MCAP: $157 Billion | 24-Hr Volume: $18.73 Billion

Short-term trend: Bearish

BTC has once again dropped below a contracting triangle with support near $8,730 on the hourly chart touching lows of $8,550.

Bears remain in control after defending a price spike to $8,850 today and any additional recovery is likely to face resistance at $8,850 and $8,950.

Hourly RSI is currently declining and is trading below the 40 level.

Major Support Levels – $8,600 followed by $8,500.

Long-term trend: Bullish
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  • #665
  • Nov 12, 2019 4:05pm Nov 12, 2019 4:05pm
Quoting TMR
BTC: Price: $8,640 | MCAP: $157 Billion | 24-Hr Volume: $18.73 Billion Short-term trend: Bearish BTC has once again dropped below a contracting triangle with support near $8,730 on the hourly chart touching lows of $8,550. Bears remain in control after defending a price spike to $8,850 today and any additional recovery is likely to face resistance at $8,850 and $8,950. Hourly RSI is currently declining and is trading below the 40 level. Major Support Levels – $8,600 followed by $8,500.
Yes, I am also seeing a slight bearish bias on the week. I think it is going to seek out the range between $8500 - $8600.
  • #666
  • Nov 12, 2019 5:11pm Nov 12, 2019 5:11pm
Quoting vanillaice
{quote} Yes, I am also seeing a slight bearish bias on the week. I think it is going to seek out the range between $8500 - $8600.
So more of the same then? Yawn.
  • #667
  • Nov 13, 2019 3:04am Nov 13, 2019 3:04am
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  • #668
  • Nov 13, 2019 4:18am Nov 13, 2019 4:18am
Accumulation
I don't need to be good at the game, only good enough to beat my opponent,
  • #669
  • Nov 13, 2019 6:34am Nov 13, 2019 6:34am
#BTCUSD update

After SLKB (1), the market got a bullish technical impulse. The price achieved a minor top here (2). And it was a perfect moment for bears to resume further decline. But what we got instead?

Just a small penetration of previous low. Another SLKB (4). Tiny bearish progress (Trap).


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So, what is the conclusion from a new episode on chart?

Bears failed. After testing of breakdown (3) and SLKT (2), sellers had a great opportunity to reach the new low ground in point (4). However, this attempt turned into SLKB under 8600 level.

Taking into consideration the described facts, we have to expect an attempt of bulls. As buyers should try to make benefits from the failed bearish attempt. 8600 confirmed its support role.

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Oleg Alexandrov, market analyst. Find me in Google
  • #670
  • Nov 13, 2019 7:18am Nov 13, 2019 7:18am
Quoting olegchartist
#BTCUSD update After SLKB (1), the market got a bullish technical impulse. The price achieved a minor top here (2). And it was a perfect moment for bears to resume further decline. But what we got instead? Just a small penetration of previous low. Another SLKB (4). Tiny bearish progress (Trap). {image} So, what is the conclusion from a new episode on chart? Bears failed. After testing of breakdown (3) and SLKT (2), sellers had a great opportunity to reach the new low ground in point (4). However, this attempt turned into SLKB under 8600 level. Taking...
If your going to abbreviate could you explain what you mean please, the price looker to be in a pullback on the weekly the direction should continue once the sellers are flushed out, only my opinion
I don't need to be good at the game, only good enough to beat my opponent,
  • #671
  • Nov 13, 2019 8:00am Nov 13, 2019 8:00am
SLKT - Stop Loss Killing on the Top

SLKB - Stop Loss Killing on the Bottom
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  • #672
  • Edited 8:57am Nov 13, 2019 8:17am | Edited 8:57am
No.
It's clearly:
TPST - Take Profit Skinning on the Top
TPSB - Take Profit Skinning on the Bottom
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  • #673
  • Nov 13, 2019 11:13am Nov 13, 2019 11:13am
More pivot respect... but where to now...
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  • #674
  • Nov 13, 2019 1:57pm Nov 13, 2019 1:57pm
Hoping to see the breakout of the consolidation soon, price now ticking up, weekly is showing an ma cross, the price broke but pulled back so expect to return up and beyond 9800 to confirm a weekly break out, only my opinion.
I don't need to be good at the game, only good enough to beat my opponent,
  • #675
  • Nov 13, 2019 2:54pm Nov 13, 2019 2:54pm
Quoting detector
Hoping to see the breakout of the consolidation soon, price now ticking up, weekly is showing an ma cross, the price broke but pulled back so expect to return up and beyond 9800 to confirm a weekly break out, only my opinion.
I too hope and anticipate a breakout. A double doji after a long range of consolidation is putting me to sleep! Exciting times to come though...
  • #676
  • Nov 13, 2019 3:33pm Nov 13, 2019 3:33pm
Quoting vanillaice
{quote} I too hope and anticipate a breakout. A double doji after a long range of consolidation is putting me to sleep! Exciting times to come though...
V, don’t suppose it’s going to give much warning, last time a slow and steady but this time with the jets firing, if the weekly confirms this will see big numbers fast, only my opinion but holding out.
I don't need to be good at the game, only good enough to beat my opponent,
  • #677
  • Nov 14, 2019 2:13am Nov 14, 2019 2:13am
Daily is still going down...
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  • #678
  • Nov 14, 2019 5:16am Nov 14, 2019 5:16am
Closed out long, will be home today and back at my system to evaluate.
I don't need to be good at the game, only good enough to beat my opponent,
  • #679
  • Nov 14, 2019 8:18am Nov 14, 2019 8:18am
BTC: Price: $8,600 | MCAP: $156 Billion | 24-Hr Volume: $19 Billion

Short-term trend: Bearish

BTC continues to approach key support near $8,550 which is the 50-day average. If breached, a decline towards $8,000 will be on the table.

Bitcoin’s 100-day MA (now at $9,436) is now beginning to trend south and looks set to cross below the 200-day MA (at $9,290) in the next couple of days. That would confirm a bearish crossover – the first of these MAs since April 17, 2018.

The relative strength index is hovering below 50, indicating a bearish bias, while the MACD histogram is producing deeper bars below the zero line – also a sign of strengthening downside momentum.

A high-volume close above the descending trendline hurdle at $9,200 is needed for bullish reversal.

Long-term trend: Bullish
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  • #680
  • Nov 14, 2019 8:48am Nov 14, 2019 8:48am
Opened long again, price on 4hr closed inside ma, recent closed have shown promise so speculative at this point.
I don't need to be good at the game, only good enough to beat my opponent,
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