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Bitcoin (BTCUSD) 294 replies

The fall of BTCUSD -cash it 77 replies

BTCUSD Strictly Pivot levels 168 replies

Attachments: BTCUSD daily price action
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BTCUSD daily price action

Quoting finessence
My take is that it's trying to hammer a base to rally from soon, though a daily close below 7080 would strongly undermine this view. Bullish until then. {image}
The base's held so far, currently wrestling with the weekly open. Little to be excited about though, unless it breaks y's high. With the USD already on the back foot, it shouldn't be a big ask. The NFP could easily underwhelm too. Still bullish. The dotted lines as possible targets.
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Timing Direction Strength
Don't miss this analysis
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Oleg Alexandrov, market analyst. Find me in Google
BTC: Price: $7,400 | Market cap: $134 Billion | 24-Hr Volume: $17.7 Billion

Short-term trend: Neutral

The bull-bear stalemate continues with prices trapped between key levels of $7,087 and $7,800. A move above $7,800 is needed to invalidate lower highs setup and revive the short-term bullish view.

The recent lows near $6,500 will likely come into play if the support at $7,087 is breached, reinforcing Wednesday's bearish hammer candle.

BTC is looking heavy, having spent last 32 hours struggling to breach the downward sloping 100-candle average on the 4-hour chart. The probability of a move lower to $7,087 is high.

Long-term trend: Neutral
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Money isn't real
I think we might see a push up to $7,800 over the weekend while liquidity is probably lower, and then we may take some more serious direction when everyone comes back to their screens Monday.
BTC: Price: $7,500 | Market cap: $135.50 billion | 24-Hr Volume: $15.58 billion

Short-term trend: Neutral

BTC remains trapped in a no man's land between key levels of $7,870 – a bearish lower high created on Nov. 29 – and $7,087 – the low of the bearish inverted hammer created on Dec. 4.

A close above $7,087 is needed to invalidate the lower highs setup and confirm a bullish reversal. That will likely yield a quick rally to $8,500-$8,700.

A move below $7,087 will likely attract stronger selling pressure, yielding a re-test of recent lows near $6,500. A drop to $7,087 could be seen if the descending 5-week moving average, currently placed above $7,500, continues to reject bullish attempts.

Long-term trend: Neutral
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Money isn't real
BTC: Price: $7,250 | Market cap: $130 billion | 24-Hr Volume: $18 billion

Short-term trend: Bearish

BTC has failed to hold onto gains above $7,600 in three of the last four days.

Monday's rejection above $7,600 appeared most disheartening for the bulls as BTC ended up creating a bearish outside day candlestick pattern.

These patterns occur when the day begins with optimism but ends on a negative note, undoing or engulfing the preceding day's high and low.

Supporting the bearish case is the 4-hour chart, which is reporting a downside break of a trendline rising from recent lows near $6,500.
On the higher side, a move above $7,870 is needed to confirm a bullish reversal.

Short-term trend: Neutral
Money isn't real
BTC: Price: $7,300 | Market cap: $132 billion | 24-Hr Volume: $17.24 billion

Short-term trend: Bearish

BTC dropped 1.4 percent on Tuesday, reinforcing the bearish view put forward by the high-volume rejection above $7,600 over the weekend.

The daily chart indicators like the relative strength index and the MACD histogram continue to signal bearish conditions.

BTC looks set for a deeper drop to $7,097 – the support of the 21-month exponential moving average. The EMA had acted as a strong support in the five months to October 2018.

If the EMA continues to restrict losses, chart-driven buying could be seen, leading to a notable price bounce. The short-term outlook will turn bullish only above $7,870.

Long-term trend: Neutral
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Money isn't real
Quoting TMR
BTC: Price: $7,300 | Market cap: $132 billion | 24-Hr Volume: $17.24 billion Short-term trend: Bearish BTC dropped 1.4 percent on Tuesday, reinforcing the bearish view put forward by the high-volume rejection above $7,600 over the weekend. The daily chart indicators like the relative strength index and the MACD histogram continue to signal bearish conditions. BTC looks set for a deeper drop to $7,097 – the support of the 21-month exponential moving average. The EMA had acted as a strong support in the five months to October 2018. If the EMA continues...
Totally down with the short term trend, I have just entered short

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First D1 close below 7K
Smart whales are selling!

You just have been robbed, naive hodler!
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Member
BTC: Price: $6,580 | Market cap: $120 billion | 24-Hr Volume: $25.45 billion

Short-term trend: Bearish

The path of least resistance is to the downside as the daily chart is suggesting a lower-highs setup and the three-day chart is signaling a convincing break below the widely-tracked 200-period average.

BTC has recovered from seven-month lows near $6,430 to $6,700, confirming a bullish divergence of the RSI on the hourly chart.

A bullish divergence occurs when an indicator forms higher lows, contradicting lower lows on price. It's considered a sign of seller exhaustion. Further, the RSI on the 4-hour chart is indicating oversold conditions.

A corrective bounce to $6,800-$7,000 could be in the offing. The short-term outlook would turn bullish if and when prices rise above $7,870, invalidating the lower-highs setup.

Long-term trend: Neutral
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Money isn't real
New here, my idea on a PA/Trade....if it sets up for me.

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#BTCUSD / Daily & H4 / Bullish Idea
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Great bearish idea !
Bearish trend normal continuation.
6000 US dollars soon !
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BTCUSD actually looks bullish now up to the 7620 level at least.

Waiting for an entry on the 1hr from a pullback but here on the Daily after the failed upthrust a few days ago and the successful test they way seems clear up for a 300 pip move
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Where are all bears???

That guy with 5500?



You see Bitcoin is something so good that it is Asset, Currency, Speculation.
But low liquidity ...

Add Trumpy little war yesterday and you get unpredictable moves. Direction always up if u ask me
Beware of robber banks (RB), bad advisors.
Der Trader All Time Pips: 52,970
Quoting Not-KPMG
Where are all bears??? That guy with 5500? You see Bitcoin is something so good that it is Asset, Currency, Speculation. But low liquidity ... Add Trumpy little war yesterday and you get unpredictable moves. Direction always up if u ask me
We'll see you way below 5500, gumbo ! Ooooh, what's gonna happen with your hardware wallets in your ass ??
Uuuh, that's gonna hurt ! You will stick your hand in your ass and pull them out to SELL ...otherwise you will ruin your family and suicide
Let me tell you a secret, your wife dumped you because you are crazy ...is not the fiat's fault, it's you !
Member
Quoting finessence
{quote} Still bullish. The dotted lines as possible targets. {image}
Looking back a few weeks, Nov/Dec printed a triple bottom; a perfect base for the bullish momentum seen recently. Targets unchanged.
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Timing Direction Strength
Quoting finessence
{quote} Looking back a few weeks, Nov/Dec printed a triple bottom; a perfect base for the bullish momentum seen recently. Targets unchanged. {image}
First target hit. Switched to BCH for better return.
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Quoting finessence
{quote} First target hit. Switched to BCH for better return. {image} {image}
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Timing Direction Strength
Quoting finessence
{quote} First target hit. Switched to BCH for better return. {image} {image}
Price doesn't travel in a straight line.

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Changed the train to Tezos to keep moving in the right direction.

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Timing Direction Strength
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