Topic: BTC might do something nice soon. TA only ( No crystal Ball/s) - page 2. (Read 802 times)

I'm not loving how fast this is moving. I was hoping for a bull flag to form after the initial push to $5K yesterday. That would allow us to coil up momentum for a test on $6K. Usually when price squeezes upwards like this without stopping to consolidate, the move burns out much quicker. I'm starting to think this might burn out very fast like the Dec 15-23 rally. Maybe a stab into $5,500-$5,800 in a few days but not the slow and steady move I was hoping for.

We have next break.BTC is traded 5220$ on Trex and 5230$ on finex
BTC broke 5200 with impressive green candle
I cancelled my sell on 5450 $ wait for 6000$ battle
5 min update 5300$ already

I also await its continuation of this price trend too, looking at the analysis I have studied out there from great analyst, I can conclude that the breakout we witnessed has really been long due and will set a good point for the next bull run, this is how we are expected to gradually reach the ATH of bitcoin and some other altcoins provided we investor will allow it to be.

Bitcoin is expected to peak at $10,000 at the end of the year and I do hope many investors will not rush to quickly take profit on seeing that, because I am sure by then, it will be heading towards $15,000 early next year before the halving.

The volumes are quite nice actually. If you focus on Bitstamp, Kraken and Coinbase Pro, you'll see that there are waves of buy orders coming through that signal demand. Some investors trade based on confirmations, and with how we broke through all previous local lower highs with such a fierce candle, they see that as a start of an up trend.

It's going to be interesting to see at what level the weekly candle closes. This could very well indicate a trend reversal with the charts actually backing it. I am currently short when it comes to trading, but I stacked up quite some satoshis under $4000 for long term holding purposes, so I am good either way.

Bitcoin’s doing something very nice right now. Interested to see your continued TA mikey, what do you predict the price range to by at the end of Q4 2019?

From your word, I can sense a long lasting system because in this, we will always have investors like you that will stay long on their investment, we have some investors that once they see little improvement tomorrow, they will sell off and this kills the market, as we are witnessing progress in the price gradually, if we all can keep watching it grow till end of the year, it will make us profit and at the same time stabilize the coin because at every growth, we will always have investors that will fill in any sell done by the older investors, so by this, the market will not forcefully go into bear market again.

Possibly, unless this rumor is true. Reuters: Bitcoin jumps 20 percent, mystery order seen as catalyst. In such case, the BTC could drop to what it was 2-3 days ago. But the last time such an event occurred was in 2015, just before the Bitcoin began its nice rise.  Maybe Bitcoin could reproduce the same thing.

Meh, Yeah, this was a huge move to the upside but remember this only happened in 2 hours, the volume is decent but not amazing, until i see some continuation the next days I will be skeptical of this move, we have seen moves like this in the past where bitcoin gains 10-15% in a few hours just to trade sideways for days/weeks and then to eventually lose it all.

ok let's make an update.

the coming chart as well as the above are all from Bitfinex, so they might look a lil different from yours.

as you may know, i got screwed with my last short position   lost 4% ,i entered a long position @4160$ ( after the weekly close above 20sma) and i had to sell at flat 5000$ despite the fact the we still have a room to go up, i couldn't resist 20% profit especially after having a terrible loss on my last short.

now let's get a bit realistic with what to expect ?

i did mention that


we went to as high as 5108$ , do we still have more room to the upside ?  yes ! , should i wait for exactly 5600$ before taking profit ? NO.





above is a daily chart, let's dig.

what do we have to worry about

1- 1 year old trend line from Feb 2018 ( very very powerful)
2- 200sma on the daily  ( very powerful)


the bigger picture on the weekly suggest that we would still move higher, but the daily suggest other wise, for this rally to keep up and actually does touch 5.4k/5.5k/5.6k we need to see a daily candle close above both points mentioned above.


I don't how to explain this to you, but these are meant for day traders, if you are buying for long term investment, then you should not bother about all my TAs, but if you are a day trader then you should take the above 2 points very seriously.

as long as we are trading below those points, we are likely going to have a correction to the downside, the moment we break them we should see another huge candle.

if you entered at the weekly close then you are now at decent profit, move your SL to break even, and start taking profits slowly.

we can very likely test 5600$ but i would exist all long positions and probably enter short positions at 5450$.

will try to keep this thread updated.

Incredible move
How do you think mikeywith what will happen that week
i hope for consolidation between 4600-5000 than break to 5500$
Today break was on volume
There was 9mln $ buy on Bittrex.I talk about dollar not usdt.Dollar volume on trex is much bigger than usdt
Interesting point is that yesterday dollar index has fail below 200 MA .Next day bitcoin move above 200 MA
 i am saying nothing is accidental

Wow, your "no crystal ball" seems to work good. I have to admit, I hoped for growth, but didn't expect such a big green candle.
Just.. we passed 5000$ extremely quick, clearly not in weeks, and now the price is obviously adjusting downwards.
I hope it'll stop falling before going under 4100$. Of course, I don't mind if it'll go sky high 

Anyway. Great job, OP!

I don't know basing most of your technical analysis on SMa's seems like a bad idea. It is not the first time that bitcoin breaks the 20 moving average and then drops right down, however it does look like a big move is going to happen soon. It basically reminds me of the market before the last crash, lack of volume, sideways trading, even though it's a bit more bullish than last time, not exactly sideways but still quite sideways for something as volatile as bitcoin. Perhaps a big bull breakout will happen this time and we can recover back to 6k+ but who knows, until we have some clarity you can't be sure.

The weekly candle did close above 20sma, current overview is bullish, we have some resistence on small tf at 4200$ area but i suppose we will break it pretty soon, we have also gotten back above the up trend line which we fell below on 4h tf. Let is see if we hit 5k in 2-3 weeks

@mikeywith
Sunday is gone and BTC is at $4,150. Now, I am interested to see how the week will be. if Bitcoin could continue on this path it would be nice to get it at $4,2k-$4,3k.
Something that could be nice as well is to not see BTC failing under the $4,100.

If it's time to grow then it's time no matter what's the reason it is. But of course, we shouldn't be too confident to do some trading in the market since it there is a chance that this is just a bull trap but to me, it's not. Let's just wait and see what would happen after a few weeks and if this price continues to grow little every week then i think there is something that's pushing it.

I think that someone has a reason to keep the price at 4k for such a long time.
Maybe it is a strategy to accumulate more bitcoins before the long bull run start. It makes me suspicious to see the price dropping immeidiately every time we have a considerable increase following a big red candle.

true the behavior of market change now and finally it keeps showing also a sign that there will be a something good will happen soon .i hope this performance of market now will not change and will keep progressing until year end so that we can at least regain gradually  our losses on it.

One thing to remember is that moving averages when aligned on their proper order, meaning the 20 SMA will be above 50 SMA (and the 200 SMA will be below on both of them) will signal a confirmation of the bull run. But by the looks of it you are right to say that it might actually take weeks before a bull run happens. Based from the chart you have given the 20 SMA shows no signs that it will do a crossover above the 50 SMA line, in fact it still shows that it is still going down nearing the 200 SMA which is a scary scenario to see if it crosses below that said moving average.

Hey, thanks for the response. Another good tips you have given us. So we should expect that the price could be in another sideways patterns unless something happen that can break it. Hopefully though that break out is a upward trend around $4200-$4500.

I do not bother with news , i trade charts and it works for me, i can not be bothered about news and i do not think the alleged hack caused or will cause price to do anything out of the ordinary.

If this weekly candle closes above 20sma then we could see some spikes we have not seen for months, if we fail to close we will very likely keep ranging between the 20SMA and 200SMA and nothing major will happen until one of these is broken.