I am giving you a merit because you actually take the time to post some nice charts unlike most posters.
Regarding the yellow (20 SMA) its not a very good indicator because back in June of 2015 it gave a false break, and later on it looked like would act as support but it broke thru, then it acted as resistance and it broke thru also and finally we got that massive rally which made all the SMA point up.
However there is a good chance that the current 20 SMA might not mean anything since the 50 SMA is really far away and might not break and head straight for it.
Topic: BTC might do something nice soon. TA only ( No crystal Ball/s) - page 3. (Read 795 times)
I doubt if this Bitcoin is willing to give a chance for the BEAR to pull it down again, The bull are really winning for now and I see them continue to win from now on because if Bitcoin is to fall below the price it is now, the difference might not be more than $40 which will still not make it fall below $4000, so it might be heading towards $5000 from now on.
Because right now, FOMO is beginning to ginger me into putting more money because I have been waiting for $3800 mark and its seems like we might never see it again, same way I am feeling now is the way many people will out of FOMO put in more investment between now and next week.
Because right now, FOMO is beginning to ginger me into putting more money because I have been waiting for $3800 mark and its seems like we might never see it again, same way I am feeling now is the way many people will out of FOMO put in more investment between now and next week.
So, according to the charts we should be heading for something similar to June 2015, a mini rally to retest the red 50, which should bring us somewhere above $5k, and possibly lead to a golden cross somewhere around... yes, June 2019.
If 2015 is the model, then it should be later than that. The June rally failed at the 50-week MA and I would expect the same here. The golden cross didn't happen until the October rally several months later:
If we follow the same path, we're looking at a golden cross (and breakout into a bull market) sometime in Q4.
Bitcoin strongly trying to stay above $4K. And I think its reasonable enough due to few positive news around market. On the other hand its look bitcoin volume healthy enough. Bitcoin have to cross $4.5K and should be stable for few days before new bull run. Because still market in bear mode even most of alts are recovering due to bitcoin stability. SEC drama is main problem now a days. If they cancel all applications then it will effect one time. But drama is really annoying to growth of price. Let's see if bitcoin could break $4.5K the we could expect new small bull run at least above $5K.
So, according to the charts we should be heading for something similar to June 2015, a mini rally to retest the red 50, which should bring us somewhere above $5k, and possibly lead to a golden cross somewhere around... yes, June 2019. It's going to be an interesting year for sure. It's going to be funny if we don't end up getting big capitulation candle the bears have been waiting for since that big drop from 6k.
Hey mikeywith,
What would you think of the recent Bithumb hacking incident? Do you think it will have a negative impact to the market, if yes then TA might be needing some adjustment as well? Thank you.
What would you think of the recent Bithumb hacking incident? Do you think it will have a negative impact to the market, if yes then TA might be needing some adjustment as well? Thank you.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Yesterday was interesting
Price jumped over 4100 even 4200 on finex then there was dump a red candle what we know from past.But support has been found on 4040 $ .Support was strong enough to stop dump. Volume was high.Now bitcoin is traded between 4060$ and 4080$
It looks good to me all together
Price jumped over 4100 even 4200 on finex then there was dump a red candle what we know from past.But support has been found on 4040 $ .Support was strong enough to stop dump. Volume was high.Now bitcoin is traded between 4060$ and 4080$
It looks good to me all together
So we have a chance to see the price will be back to $4200, right? I hope that in the next week, the price will be at that price so I can sell some of the bits to gain the profit
The line still on the up although the red candle still appears, I think it will be gone in the next day. And now, we have a good price to buy more bitcoin right now while the red candle still there.
Someone is collecting huge amount of btc before the bounce that were all waiting for will finally begin. For the past weeks bitcoin has been stable at 4000$, which is a good sign that bitcoin is ready for the take off.
Yesterday was interesting
Price jumped over 4100 even 4200 on finex then there was dump a red candle what we know from past.But support has been found on 4040 $ .Support was strong enough to stop dump. Volume was high.Now bitcoin is traded between 4060$ and 4080$
It looks good to me all together
Price jumped over 4100 even 4200 on finex then there was dump a red candle what we know from past.But support has been found on 4040 $ .Support was strong enough to stop dump. Volume was high.Now bitcoin is traded between 4060$ and 4080$
It looks good to me all together
Throughout history (July 2010 ) up to now, every time price closed above the weekly 20SMA (yellow), it always heads straight to 50SMA (Red) ,by always i mean ,every single time. ( couldn't zoom out the chart to show <2014 but the same thing happened before that too, you can check the chart yourself)
Although history tends to repeat itself, I will warn traders to be very careful. The last year was unusual, the market moves were not always as expected.
While a "valid" rise is indeed possible, as @omonuyak also said, there's quite a chance for a bull trap too.
Hence, I think what is just happening to bitcoin now or what will happens to it that will make its price is just simply human efforts and contribution to its present status, though some factors will still come into play too this time from the past events.
-snip-
You seem like really confident. I think we on 2 scenario case, this area will decide us where the market will go. I believe we all still not yet hit the bottom, but don't forget at these level we can break the resistance and change the trend from bearish into bullish. For right now am still using money management for cryptocurrency investing, maybe i will use my money around 10-20% at this price. 
You don't need a spirit to tell you that bitcoin is doing very nice this days and will even do more because we are getting to the tale end of the bearish market and about to enter one of the major bull run that the market have ever experienced, this is why this is the best time to make purchase of bitcoin and other crypto with great potentials because in few months we might not be able to purchase them in the current price they are now.
We are all know bearish market was end in this month so peoples are little happy to purchase the Bitcoin. But sometimes was move to sudden dump so some investors are little worried. I thought short term trading is good to make decent profit and If we analyse the future possibilities surely some big pump will happen. The current price is reasonable so continuous improvement will be occur on upcoming days. 
You don't need a spirit to tell you that bitcoin is doing very nice this days and will even do more because we are getting to the tale end of the bearish market and about to enter one of the major bull run that the market have ever experienced, this is why this is the best time to make purchase of bitcoin and other crypto with great potentials because in few months we might not be able to purchase them in the current price they are now.
Both scenarios are possible.
Most people would guess a repeat of previous which is down from 4100 area. Its top of the range but I do expect price to explore 4500 and beyond to 6000. Theres no real way to know if BTC will push that far this week or next or in the future
Quote
however, the more likely scenario is a dip below 3800$ before Sunday to re-test the 200SMA at 3400ish
Thats very bearish because 200 weeks is a hell of a long term average - thats really pushing the needle where as 4100 is not that extreme upwards. Just pushing that far means we are a far more negative sentiment then many realise. Usually some news of some type will upset it either way though I dont think thats the true determiner it can be ignition
bitcoin doesn't really react the way you want and charts suggest most of the time
If the above theory is true, one can simply trade against the charts and become a millionaire.
If most of the time price will go against what TA suggests , go ahead make a bot that trades against the odds , it is pretty simple.
The crystal ball suggest that TA should not be taken as if its 100% accurate science, but whether it works or not this is something i hate to discuss every single day, so if you do not do charts then you need a crystal ball to trade, if you don't have at least one of those two ,then you will always lose in the long run.
Bitcoin is very risky to trade just because of this, you can invest into bitcoin but if you want to trade bitcoin know that it could do anything at any moment.
I honestly find the market rather predictable in the short term with how most retailers with unstable moods are not participating in the market. Most short and long opportunities were quite easy to settle profitably.I usually am quite conservative when it comes to trading, but I have taken an opportunity or two in the recent weeks to do some trading after a long period of paper trading, and it worked out well so far.
I'm currently long around $3950 and it seems to be a good move so far. My intention is to lock in profits the moment we hit $4200 because I believe that the strong resistance around that level will initiate large dumps tanking the price.
cuz i don't really see a huge bull trap going to mid-5000s and then falling back down after we've had stable 3100-4100 range for 4.5 months so far.
It's only been 3 months, and we really only became confirmed as range-bound in February. The market also moves much, much slower than in 2015 so I think people are jumping the gun a bit.
And let's look at what happened in 2015. We went sideways for half the year, only to break down below $200 again in August. That crash was strongly bought up, and then we started rising into a bull market. Bulls really haven't been tested yet regarding these bottom levels. If we don't retest the bottom, then we'll at least get a higher low like August 2015. Too many bulls are already assuming the pain is all over, which indicates to me there is no bull market coming yet.
I think any serious break about low-4000s of that magnitude (and suddenly going up 1500 above the top of the bottom range would be a huge move) will signal the start of the bull market.
What's the rationale for that? What's your school of thought on bull/bear cycles? How do you know it won't just get sold into like July 2015?
This means , if we don't drop below 3850$ before Sunday (weekly candle close)we could very likely enter a mini-rally and see sub 5000$-5600$ in a few weeks.
Actually it won't be bad to see strong BTC again, but I agree with your second scenario, more than I agree with scenario above...however, the more likely scenario is a dip below 3800$ before Sunday to re-test the 200SMA at 3400ish
We will see what will happen in three days, good points and nice trend analysis overall. Keep in mind that BTC is currently at strong resistance.
If it's true that every single time the 50 SMA breach happens right after a close above 20SMA , I think you deserve credit for pointing out that out. Call my horizons narrow but I swear I haven't seen someone say this.
So, 3850 the level to watch for on Sunday and then we head up of the medium term? I've a crystal ball feeling we won't even see 3900 until Monday.
Pretty decent comparison, but what about relative activity or volume? Are those also matching up?
So, 3850 the level to watch for on Sunday and then we head up of the medium term? I've a crystal ball feeling we won't even see 3900 until Monday.
Pretty decent comparison, but what about relative activity or volume? Are those also matching up?
well, last week I heard some analysts say that the price would fall below $ 3800 and then I saved a little money so that in case of falling below $3800 I can buy more bitcoin, it happens that I am already the waiting to fall below $ 3800 and the price did not fall, on the contrary the price went up, it seems to me that whenever the person desires something, happens the opposite. We'll see if you will hit your forecast.
Concern the analysts prediction, most analyzers dont also know what the future price of the market will be which is why they also usually said their analysts is trading advice. What I'm trying to say is that the market is in 50/50 position but it has better chance to surge in price due to it resistance to dump in price for weeks and as the OP said if the market could maintain the $4K price for days then there chance for another rally. Jump to: