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Bitcoin technical analysis

  • #7,461
  • Jun 10, 2020 4:26pm Jun 10, 2020 4:26pm
Bitcoin went up $127 today but this isn't the story. Yesterday the trading range was $323 as seen in post #7,458. This caught lots of traders by surprise since there was over 5,000 trades on that single candle while those on both sides of that long candle did not even get 3,400 trades put together. Today was worse since the trading range was $919 achieved again on a single candle. Maybe traders learned their lesson since there was only 835 trades on that candle. At the $10,477 high price of the day I should have sold my Bitcoin to buy the little Guaita castle
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Click to Enlarge Name: BTCUSDH1.png Size: 30 KB
  • #7,462
  • Jun 10, 2020 9:20pm Jun 10, 2020 9:20pm
Hello guys,

Below are my views for BTC on Daily, which is a clean chart showing the current uptrend, however $10.000 is a major psychological resistance and also 61.8 Fibonacci Retracement level, until we don't have a clear break above $10.000 and after above the previous highs of $10.490, I would remain cautious in adding more buys here.

Last time price broke above this 10k level was 14.02.2020 but failed to confirm, and followed a move to $3.500 within a month time, I don't think that will be again the case, since I see nice consolidation levels on H4 when I apply Ichimoku.

On H4 like I said above, I see the price consolidating above the Kumo ( cloud ) and building momentum for a push above 10k - 61.8 Fibo Level!

Bought 3 BTC last 3 days, and bellow you'll see how I divided them in other coins to diversify, feel free to suggest / criticize my position size for any of those coins!
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Click to Enlarge Name: BTC USD Daily 11.06.2020.JPG Size: 188 KB
Click to Enlarge Name: BTC H4 11.06.2020 ICHI.JPG Size: 164 KB
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  • #7,463
  • Jun 10, 2020 9:54pm Jun 10, 2020 9:54pm
In addition,

Since BTC/USD is a parity, when I did my analysis I took in consideration, the USDx ( Dollar Index ) , and since 02.06.2020 I've noticed the USDx is dropping under 61.8 Fibo Levels with clear confirmation, logically the next level for USDx will be 100 Fibo level, meaning another 100 pips drop.

If this happens ( and given the fact that the FED printer doesn't seem to stop any time soon ) the BTC/USD pair should also pop UP.

Cheers and green trades to us all !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDx 02.06.2020.JPG Size: 237 KB
Click to Enlarge Name: USDx 11.06.2020.JPG Size: 143 KB
Click to Enlarge Name: USDx H4 traget 11.06.JPG Size: 245 KB
  • #7,464
  • Jun 11, 2020 7:38am Jun 11, 2020 7:38am
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  • #7,465
  • Jun 11, 2020 4:27pm Jun 11, 2020 4:27pm
Bitcoin went down by $532 or 5% today. Bitcoin really needs to exercise more if it wants to reach the magical $10,000
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Click to Enlarge Name: BTCUSDH1.png Size: 32 KB
Click to Enlarge Name: Bitcoin Exercise.png Size: 428 KB
  • #7,466
  • Jun 11, 2020 8:45pm Jun 11, 2020 8:45pm
OK OK, this is not what a new crypto trader wants to see in his home page ewallet feed when he wakes up .

I'll post later a bit my views for BTC and ETH today, ETH is still within the UP trend channel, however BTC broke it.


Cheers and let's see close the week on a good note!

P.S: I'm minus $1,116 since I started 3 days ago =)
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Click to Enlarge Name: Down BTC 12.06.JPG Size: 89 KB
  • #7,467
  • Jun 11, 2020 10:29pm Jun 11, 2020 10:29pm
Quoting MisterSpread
OK OK, this is not what a new crypto trader wants to see in his home page ewallet feed when he wakes up . I'll post later a bit my views for BTC and ETH today, ETH is still within the UP trend channel, however BTC broke it. Cheers and let's see close the week on a good note! P.S: I'm minus $1,116 since I started 3 days ago =) {image}
Today is quite interesting day on markets. Venerable Dow Jones is -6.90%.
IMHO beginning of this week was not the good to buy. I added some BTC today at 9250.
  • #7,468
  • Jun 11, 2020 10:43pm Jun 11, 2020 10:43pm
Quoting yg10
{quote} Today is quite interesting day on markets. Venerable Dow Jones is -6.90%. IMHO beginning of this week was not the good to buy. I added some BTC today at 9250.
Yeah I feel it now, however when I bought the BTC 3 days ago I didn't buy it with the purpose of trading daily or speculating, I bought it so I can move some of my cash.

I think was smart of you to buy BTC around the day lows after it bounced from $8,980 , however I'm waiting to see if it was a real breakout of the channel or a knee jerk reaction after yesterday US stock market sell off, posting my new updated charts shortly !
  • #7,469
  • Jun 11, 2020 11:09pm Jun 11, 2020 11:09pm
On H1 last night was quite dangerous for BTC uptrend, we see that the channel broke on the downside and went through the $9,300 Hourly Resistance, even ticked once under the MAJOR resistance of $9.000, luckly for BTC bulls the price bounced back quickly above the 9k critical level and regained support around $9,300 area.
Today is very important for the $9,300 level to hold and come back to the $9,600 / $9,700 levels so it can re-enter the uptrend channel.
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Click to Enlarge Name: BTC H1 12.06.2020.JPG Size: 198 KB
  • #7,470
  • Jun 11, 2020 11:29pm Jun 11, 2020 11:29pm
On H4, my chart is a bit more complicated, I'm happy to see that the price is above the Kumo ( cloud ) of Ichimoku and shows accumulation and potential upwards direction, again here $9,300 is a very important level and I will watch carefully , because the smaller time frames give mixed signals and can go any direction, however as long as Bulls hold above $9,300 and $9,000 I think the uptrend is still in play for the next days!
Attached Image (click to enlarge)
Click to Enlarge Name: BTC H4 12.06.2020.JPG Size: 296 KB
  • #7,471
  • Edited 11:46pm Jun 11, 2020 11:30pm | Edited 11:46pm
The USDx H4 makes me even happier, because yesterday was a good correction for the downtrend and as long as the price stays under the Kumo ( cloud ) the downtrend for the USDx remains intact on daily towards my previous target of 94.60.


At the time of my post, I'm minus $1,843 over all or 6% on my portfolio !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDx Daily 12.06.2020.JPG Size: 215 KB
Click to Enlarge Name: USDx H4 12.06.2020.JPG Size: 224 KB
  • #7,472
  • Jun 12, 2020 9:01am Jun 12, 2020 9:01am
I like the setup on M5, today BTC moved within this UP channel, tried to push above $9485 but failed a few times and had a retreat towards $9400 and the flat bottom of the Kumo acted as a nice support.


If the price breaks and confirms the M5 $9485 level which if 50.0 Fibo Retacement and confirms the break, than the next resistance is $9600 !

P.S: Omg )) until CCraft posts and upload my chart BTC beats me to it =)
Attached Image (click to enlarge)
Click to Enlarge Name: M5 BTC 12.06.2020.JPG Size: 292 KB
  • #7,473
  • Jun 12, 2020 9:19am Jun 12, 2020 9:19am
As long as the USDx is a good boy and follows the trend, stays under the Kumo on Ichimoku without any shenanigans to the upside ( which I doubt ) and within the channel, BTCUSD has some more room to the uspide, hopefully clearing and staying above $9485, $9600 and testing again $10k soon.

I liquidated my entire Tezos position and added it all to BTC earlier at $9300!
Attached Image (click to enlarge)
Click to Enlarge Name: USDx 12.06 - 2.JPG Size: 185 KB
  • #7,474
  • Jun 12, 2020 10:51am Jun 12, 2020 10:51am
Quoting MisterSpread
Hello guys,.. free to suggest / criticize my position size for any of those coins! {image} {image} {image}
Hi

Why even buy these cr.p coins???

Tezos, KNC, Ripple

These are premined scam, not crypto.
Mcdonald vouchers have more future....

Beware of robber banks (RB), bad advisors.
  • #7,475
  • Jun 12, 2020 11:20am Jun 12, 2020 11:20am
Quoting Not-KPMG
{quote} Hi Why even buy these cr.p coins??? Tezos, KNC, Ripple These are premined scam, not crypto. Mcdonald vouchers have more future....
Well I did a top10 of most popular ones and with the most traction behind, with good fundamentals ( or at least ) that's what i thought .

Since i will add more BTC soon to my portflio i will limit those small ones at $1000 size each and focus on BTC and ETH more, maybe Zcash ?
  • #7,476
  • Jun 12, 2020 4:15pm Jun 12, 2020 4:15pm
Bitcoin went up by $120 today a far cry from yesterday's loss of $532.
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Click to Enlarge Name: BTCUSDH1.png Size: 33 KB
  • #7,477
  • Edited 9:56am Jun 13, 2020 5:36am | Edited 9:56am
Quoting Hutch
Bitcoin went up by $120 today a far cry from yesterday's loss of $532. {image}

Ohhhh faaar cryyyy

Dirty lying codger.

Weren't you the chump with 2 bitcoin ? . Seems irrational your crying always baaaaa Biiiiiitcoin deeeeead??

Yeaaah liar exposed again..

https://www.cryptocraft.com/showthre...7#post12806547
Attached Image
Beware of robber banks (RB), bad advisors.
  • #7,478
  • Jun 13, 2020 5:38am Jun 13, 2020 5:38am
Quoting Not-KPMG
Out of respect to crybabies... I improved om the first poster One can only applaud such excellent art {image}
In March....
What . errrr... 7900 greenos????

Today 9450

Crybabies Cryyyyyy
Attached Image
Beware of robber banks (RB), bad advisors.
  • #7,479
  • Jun 13, 2020 10:31am Jun 13, 2020 10:31am
Quoting Not-KPMG
{quote} Ohhhh faaar cryyyy Dirty lying codger. Weren't you the chump with 2 bitcoin ? . Seems irrational your crying always baaaaa Biiiiiitcoin deeeeead?? Yeaaah liar exposed again.. https://www.cryptocraft.com/showthre...7#post12806547 {image}
Like I said before I pity you because your parents didn't raise you properly. If they had you would not be insulting people left and right and ignore people that don't agree with you. Are you still flipping burgers at McDonalds? I have 2 bitcoins but I consider them to be worth nothing because I already made well in excess of their value trading. Whether they go to $1 or $100,000 I really don't care. Same for my two houses. Since I don't have a mortgage on them whether their combined value go to $1 or $2,000,000 I don't care. At least I can live in my houses and invite my friends to have a few good parties but with Bitcoin I cannot even look at them
  • #7,480
  • Jun 13, 2020 10:44am Jun 13, 2020 10:44am
Quoting MisterSpread
{quote} Well I did a top10 of most popular ones and with the most traction behind, with good fundamentals ( or at least ) that's what i thought . Since i will add more BTC soon to my portflio i will limit those small ones at $1000 size each and focus on BTC and ETH more, maybe Zcash ?
If you really want to become financially free you are too late to invest in top 10 Alts which are diminishing returns but top 100-200 or even 300 might make more sense and will be akin to going back to 2013 as an early adopter. Throw a few here and there and if a home run hits it will be more than anything you would even potentially make on inflated Alts near the top
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