Topic: Bitcoin news and technical analysis (Read 511 times)
Bitcoin price will go up, There are so many price predictors are saying that Bitcoin price will to the moon in near future and gives you a good profit, this happens after technical analysis that makes by the predictors to understand the whole market according to the conditions.
At present, the price of Bitcoin has fallen below $6,500. Although the market has already seen green, it is only 1%-3%. This speed is very slow!
Things are usually slow when there is consolidation and the market trying to find which direction to eventually take. For now, Bitcoin seems undecided yet and we managed to break $6500 resistance but got sent back below it immediately we hit the $6800 resistance. As far as I can tell, the bears are still in action even though the bulls are trying to regain control even if it is in the short term. Time will tell where we end up heading to in coming days or weeks. Fundamentally too, there is nothing to drive the market upward, considering the set of news we have been having with the ETF proposals rejection as well anyway.
TLDR; Two weeks of dojis in the weekly chart which means indecision. Eventually the market will decide. 51% chance of upward movement cuz Bitcoin is extremely oversold.
At present, the price of Bitcoin has fallen below $6,500. Although the market has already seen green, it is only 1%-3%. This speed is very slow!
Things are usually slow when there is consolidation and the market trying to find which direction to eventually take. For now, Bitcoin seems undecided yet and we managed to break $6500 resistance but got sent back below it immediately we hit the $6800 resistance. As far as I can tell, the bears are still in action even though the bulls are trying to regain control even if it is in the short term. Time will tell where we end up heading to in coming days or weeks. Fundamentally too, there is nothing to drive the market upward, considering the set of news we have been having with the ETF proposals rejection as well anyway.
August 04, 2018
BTC is currently on a slow grind up within the current consolidation zone between $7,500 and $7,250.
We’re currently printing higher lows as we march towards the 0.236 fib level but it would not surprise us to see a bearish retreat and retest of $7,265 level as we could potentially be in a bear flag pattern.
We would view any break and close below $7,200 as a shorting opportunity to around the $6,860 level.
On the other hand, if we witness some convincing buy volume at the $7,200 mark, we would consider going long with targets as high as $7,800 but more conservatively, would look at possibly exiting at $7740 or even $7,520 depending on the bullish momentum.
Now I rarely find technical analysis on bitcoin and I myself rarely do it on bitcoin, to be honest for trading I don't choose bitcoin and prefer in altcoin, I think many know why altcoins is worth trading. for those who want to learn trading I suggest to look at this thread.BTC is currently on a slow grind up within the current consolidation zone between $7,500 and $7,250.
We’re currently printing higher lows as we march towards the 0.236 fib level but it would not surprise us to see a bearish retreat and retest of $7,265 level as we could potentially be in a bear flag pattern.
We would view any break and close below $7,200 as a shorting opportunity to around the $6,860 level.
On the other hand, if we witness some convincing buy volume at the $7,200 mark, we would consider going long with targets as high as $7,800 but more conservatively, would look at possibly exiting at $7740 or even $7,520 depending on the bullish momentum.
August 23, 20018 - almost all crypto even decreased by an average of 5% .
At present, the price of Bitcoin has fallen below $6,500. Although the market has already seen green, it is only 1%-3%. This speed is very slow!
💥ETF Rejection💥
The Proshares ETF application was denied by the SEC.
The application required a rule change to be accepted by the SEC. When handing down their decision the SEC explained that the rules could not be changed and that the decision in no way means the SEC does not believe in the viability of blockchain technology.
The Proshares application included a long and a short $BTC product tied to $BTC futures contracts. It came as no surprise that the application was rejected as the Proshares products were tied to a highly volatile and leveraged 9 month old asset class.
It should also be noted that this product is not physically backed by $BTC.
This may play well into the hands of the Vaneck-SolidX application which is due to be decided in one months time.
The SEC is tasked with protecting retail investors. The Vaneck-SolidX ETF product has a unit size of 25 $BTC with a target audience of institutional investors.
In comparison to the failed attempts of previous ETF applications, the Vaneck-SolidX application appears far superior.
The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity. BTC
The Proshares ETF application was denied by the SEC.
The application required a rule change to be accepted by the SEC. When handing down their decision the SEC explained that the rules could not be changed and that the decision in no way means the SEC does not believe in the viability of blockchain technology.
The Proshares application included a long and a short $BTC product tied to $BTC futures contracts. It came as no surprise that the application was rejected as the Proshares products were tied to a highly volatile and leveraged 9 month old asset class.
It should also be noted that this product is not physically backed by $BTC.
This may play well into the hands of the Vaneck-SolidX application which is due to be decided in one months time.
The SEC is tasked with protecting retail investors. The Vaneck-SolidX ETF product has a unit size of 25 $BTC with a target audience of institutional investors.
In comparison to the failed attempts of previous ETF applications, the Vaneck-SolidX application appears far superior.
The proverbial red herring rejection today will undoubtedly send the market into a downward spiral, a great shorting opportunity. BTC
It is interesting that bitcoin, at the time when we all anticipated it to grow, begin to fall again. In my opinion it is still hanging on the position which is not that that comparing to other a year's before.
BTC Update
Earlier today BTC dropped roughly 3.7%, falling from around $6,450 down into the $6,200 region. Price wicked the lower end of the support and consolidation zone and was propelled back higher in what is becoming the same old song and dance.
Since the 9th of August, price has consolidated and launched out of this $6,200 zone at least three times. It is apparent that the bulls do not want price to go below this point but we have so far failed to garner the momentum to push above the resistance at $6,600.
Somethings got to give
This sideways action isn’t riveting by any stretch but the recent and uncharacteristic predictability of BTC price behaviour is presenting some opportunities to capitalise on price movement within the range.
Currently we are in a no trade zone but should price continue to climb higher to $6,580 or above, we will consider looking at placing some sell orders and ride it back down.
#CAVEAT!
🚨The short squeeze🚨
It looks like the short squeeze has happened after all and is pretty much at our target area for shorts right now.
We are NOT shorting just yet, but rather looking for some kind of bearish rejection candle on 4h to confirm our theory.
Earlier today BTC dropped roughly 3.7%, falling from around $6,450 down into the $6,200 region. Price wicked the lower end of the support and consolidation zone and was propelled back higher in what is becoming the same old song and dance.
Since the 9th of August, price has consolidated and launched out of this $6,200 zone at least three times. It is apparent that the bulls do not want price to go below this point but we have so far failed to garner the momentum to push above the resistance at $6,600.
Somethings got to give
This sideways action isn’t riveting by any stretch but the recent and uncharacteristic predictability of BTC price behaviour is presenting some opportunities to capitalise on price movement within the range.
Currently we are in a no trade zone but should price continue to climb higher to $6,580 or above, we will consider looking at placing some sell orders and ride it back down.
#CAVEAT!
🚨The short squeeze🚨
It looks like the short squeeze has happened after all and is pretty much at our target area for shorts right now.
We are NOT shorting just yet, but rather looking for some kind of bearish rejection candle on 4h to confirm our theory.
The bitcoin technical analysis gives us a general idea of bitcoin and, moreover, it gives us an overview of the bitcoin market situation in a scientific and century-old way.
BTC climbing higher
BTC is slowly grinding higher and is making its way towards the top of the consolidation range. We’ve failed to break through $6,578 previously (and prior to this $6,537) so we will be looking to see if this slow crawl up can push through these points. Both $6,800 and $7,000 look like possible targets depending on the timeframe.
It is possible that BTC is in an ascending triangle - a breakout above could present an opportunity to go long to the levels mentioned above. A rejection and subsequent breakdown below could provide a good shorting opportunity to take back down to the $6,200 level or possibly lower as this is the prevailing direction of the overall trend.
BTC is slowly grinding higher and is making its way towards the top of the consolidation range. We’ve failed to break through $6,578 previously (and prior to this $6,537) so we will be looking to see if this slow crawl up can push through these points. Both $6,800 and $7,000 look like possible targets depending on the timeframe.
It is possible that BTC is in an ascending triangle - a breakout above could present an opportunity to go long to the levels mentioned above. A rejection and subsequent breakdown below could provide a good shorting opportunity to take back down to the $6,200 level or possibly lower as this is the prevailing direction of the overall trend.
Unfortunately, you just cannot predict the market behavior neither by Bitcoin news, not technical analysis, which means you have to make your own decision...
I personally only look at Technical Analysis as all the news is already included in the price action.
The bulls have managed to regain some control after refusing to let BTC fall below the key support level of $5,800.
Yesterday, price did again test yearly lows, wicking $5,860 before being propelled higher to the top of the range at $6,550 which we currently find ourselves in. On the 4H we have made a double top and price has again wicked the higher extremity of $6,636 - if you dial down to the 1h, you can see that a small sell off happening.
This is to be expected after a 13% surge in price from the lower end of the range. We’re still printing lower highs and lower lows and the trend is still bearish but as we come back down, it will be important to see how BTC interacts with the $6,200 range.
If we enter into sideways consolidation here as we have done so previously at this level, we will be looking closely for signs of strength to indicate a leg higher, pressing up to $7,000.
If we break through this level we’ll be looking to short back down to $6,000 and possibly below depending on how the price unfolds – these are our musings but it is still too early to tell.
Yesterday, price did again test yearly lows, wicking $5,860 before being propelled higher to the top of the range at $6,550 which we currently find ourselves in. On the 4H we have made a double top and price has again wicked the higher extremity of $6,636 - if you dial down to the 1h, you can see that a small sell off happening.
This is to be expected after a 13% surge in price from the lower end of the range. We’re still printing lower highs and lower lows and the trend is still bearish but as we come back down, it will be important to see how BTC interacts with the $6,200 range.
If we enter into sideways consolidation here as we have done so previously at this level, we will be looking closely for signs of strength to indicate a leg higher, pressing up to $7,000.
If we break through this level we’ll be looking to short back down to $6,000 and possibly below depending on how the price unfolds – these are our musings but it is still too early to tell.
Yeah it's still in the indecision. I don't think it's going to get much lower though just because there's a lot of money in mining that needs it to stay above 6k. So they'll defend it in the interest of protecting their profits from being sabotaged.
There isn't any fundamental reason coming anytime soon to drive it up either. So I'm not going to be surprised if it bounces between the 6,200 -- 6,800 range for the next several days. Unless of course someone decides they need to protect their fiat from losses and use bitcoin to do that
August 04, 2018
BTC is currently on a slow grind up within the current consolidation zone between $7,500 and $7,250.
We’re currently printing higher lows as we march towards the 0.236 fib level but it would not surprise us to see a bearish retreat and retest of $7,265 level as we could potentially be in a bear flag pattern.
We would view any break and close below $7,200 as a shorting opportunity to around the $6,860 level.
On the other hand, if we witness some convincing buy volume at the $7,200 mark, we would consider going long with targets as high as $7,800 but more conservatively, would look at possibly exiting at $7740 or even $7,520 depending on the bullish momentum.
BTC is currently on a slow grind up within the current consolidation zone between $7,500 and $7,250.
We’re currently printing higher lows as we march towards the 0.236 fib level but it would not surprise us to see a bearish retreat and retest of $7,265 level as we could potentially be in a bear flag pattern.
We would view any break and close below $7,200 as a shorting opportunity to around the $6,860 level.
On the other hand, if we witness some convincing buy volume at the $7,200 mark, we would consider going long with targets as high as $7,800 but more conservatively, would look at possibly exiting at $7740 or even $7,520 depending on the bullish momentum.
Technical analysis is not my strong side. So I would only try to look at the market depending on how much Bitcoin will drop and how much it will go up. There I will decide when to buy and when to sell, but for now I was just holding my btc in a hope that I can have a bigger gain if the bullish market start to move.
i don't know too much about technical chart analysis but i don't believe in this kind of analysis, market is control by many aspects: news, fomo-ponzi effect, shark-exchange control price...
Technical analysis only helps us to grasp the trend of any penny, but I do not see them as true today, but many believe in and invest a lot. from which the losses
I would consider it bullish it BTCUSD breaks above $6800 resistance.
The bulls have managed to regain some control after refusing to let BTC fall below the key support level of $5,800.
Yesterday, price did again test yearly lows, wicking $5,860 before being propelled higher to the top of the range at $6,550 which we currently find ourselves in. On the 4H we have made a double top and price has again wicked the higher extremity of $6,636 - if you dial down to the 1h, you can see that a small sell off happening.
This is to be expected after a 13% surge in price from the lower end of the range. We’re still printing lower highs and lower lows and the trend is still bearish but as we come back down, it will be important to see how BTC interacts with the $6,200 range.
If we enter into sideways consolidation here as we have done so previously at this level, we will be looking closely for signs of strength to indicate a leg higher, pressing up to $7,000.
If we break through this level we’ll be looking to short back down to $6,000 and possibly below depending on how the price unfolds – these are our musings but it is still too early to tell.
Yesterday, price did again test yearly lows, wicking $5,860 before being propelled higher to the top of the range at $6,550 which we currently find ourselves in. On the 4H we have made a double top and price has again wicked the higher extremity of $6,636 - if you dial down to the 1h, you can see that a small sell off happening.
This is to be expected after a 13% surge in price from the lower end of the range. We’re still printing lower highs and lower lows and the trend is still bearish but as we come back down, it will be important to see how BTC interacts with the $6,200 range.
If we enter into sideways consolidation here as we have done so previously at this level, we will be looking closely for signs of strength to indicate a leg higher, pressing up to $7,000.
If we break through this level we’ll be looking to short back down to $6,000 and possibly below depending on how the price unfolds – these are our musings but it is still too early to tell.
From my own experience news and technical analysis can’t guarantee you for profit. It is only you who can make a profit by using your own brain. Believe me. If you watch the market carefully then you can decide about what is going to be the next hours or day. Many people who have short knowledge about how to use bitcoin news or how to analyze a market can also make a good amount of profit daily. Yet I can’t ignore news or TA but who can use it sure can use it for their trade and make a profit.
Regardless of the overall bearish sentiment and the SEC weighing in heavily against Bitcoin,bulls seem to be stable and recovering.It's up five percent and reducing as buyers reject prices below $6,ooo-the upper limit of our support zone.Considering the past tow trends,we still hold a bearish position and untill we see thrusts above $6,800 and $7,000 to the upside,we recommend shorts on high more so once there is a convincing break below $5,800.
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