I am giving you here my day trading setup for today, with some clear support and resistance levels. The blue and red line are the most likely scenarios to work out because Bitcoin has started to show some weakness the past 12 hours. It's nothing to be scared about, as long as we stay above the green area around 7500/7600 the bullish scenario is still in play. I have mentioned in my previous analysis that if prices would just go up it would not be sustainable for long. Meaning price could be making nasty drops because there is no real support below it. That's why it's better that Bitcoin starts to make a higher low in the 7K area. To have a more solid foundation to go higher in the coming week.
I think the picture speaks for it self. We have 2 different H&S in the making and both are showing the same target. In an update i will show both of them. I had them in this chart, but it became to unclear with all the other information.
For more information read my previous analysis and maybe even a few older ones as well, so you can see what my bigger game plan is. I am happy to say that i posted 6 Alt coin trades a week ago at the lows and all of them have reached their targets and some even went passed them. I have closed all of the trades, because greed is a loosing strategy on the long term.
While i was making this analysis price dropped through it's first support level, now we have to see if the purple line will hold.
If you like what i am doing here, than keep the likes coming guys. put me back on top again :)
評論
⋅
I see now that the purple line was broken already, so things are looking bearish for the short term
評論
⋅
Update of my previous analysis:
Bulls are trying to fight this. That green level is an important support now,could also be the neckline of an H&S. So if we drop below it i think we can see 7700 very soon. If bulls can show some force now and break that small neck line of the inverse H&S it still has to fight that red resistance area. So we could say we are in a channel now, and hopefully we will see some direction soon.
Slowly dropping, could accelerate if we drop below the 8000
評論
⋅
These are the 2 H&S patterns i am talking about. On Gdax we can see price is still above the purple support line. That's why it's important to look at the different exchanges. We could be seeing price go up from here to form a bigger right shoulder, but we already have a small one, so it could just keep on dropping from here
評論
⋅
We could also be in this phase right now (orange area)
評論
⋅
I see a first target of 7800/7850
評論
⋅
I have to go for a few hours, yes i try to have a social life as well a few hours a week. Many friends and family don't like TV because i am to busy with it.
If something special happens i will try to keep you posted with my mobile, otherwise you will see updates later today. Good luck trading
My motivation is the like's guys, if you think i deserve it, keep m coming and put me back on top again :)
評論
⋅
Bulls are fighting back now. Looks like we will make that right shoulder of that bigger h&s. But price should stay below the 8200/8250 than. This could take all day, thats what bitcoin does best lately, go sideways
評論
⋅
Some mixed signals now, but see some resistance here. At Bitfinex we are below the purple support line and have just tested it. On Gdax we have bounced from that line and are still above it. If price is able to get above the 8100, than a first step is made to get out of this short term bearish momentum, but 8200ish is the bigger challange.
I am out again guys, sorry :)
評論
⋅
If they can get it above 8080, than i think bulls might be up to something. A break of 7900 will probably bring us to 7650. Hopefully it won't take a half day :)
評論
⋅
I think we are on a small crossroad now, i think we will get the answer within 2 hours to which direction the market will take for the rest of the day, when i look at some alts they give the appearance that they are ready to go up again. But the leader Bitcoin looks more confused than it's little brothers.
It's been moving in a triangle for half a day now and there is not much room left. Now it can break both ways, but my guess is we go down, but it's more like a 65/35 chance. My gut feeling is not telling me anything. Also because i was not at home watching the price action and getting some clues out of it
評論
⋅
Think these are the levels to watch
評論
⋅
It broke out but so far no follow through, could still come but chances have increased it's a small bear flag. This sideways action is difficult to trade and quite boring :)
評論
⋅
I forgot to say why i think that, because usually with a small triangle like this you see immediate follow through, since we have not seen that, probably wasn't a triangle to begin with. Just having an objective view
評論
⋅
This chart has no real value to just trade on it blindly. But it's to show a realistic possibility. This sideways action Bitcoin has been doing always confuses everyone. But this is a likely option though because it will keep on confusing bears and bulls for another day or 2 :)
評論
⋅
評論
⋅
When we look at this picture it's a 50/50 to what we will do on this time frame. We are clearly in a small resistance zone now and the possible H&S i have been showing you guys would suggest we should turn down slowly towards the purple support line. There it could still find support again and just go up, but than the chances are 75% we drop. All this is just not really tradable with a good % of success. I am not looking for a long position until i see a good correction towards the 7800/7500. And shorting it here for 100/300 points is also not without risk. Just have to show patience and wait for better opportunity. As long as we don't break the 7500ish level my med term view is still up, still need to shake out some bears
評論
⋅
Looks like a small bull flag now, bulls are not yet giving up.
It's no real use updating, no valuable info i can give, nothing tradable on the short time frame and at the 50 yard line still in the med term direction. The sun is shining today here, i am going to enjoy a day off i think. Good luck trading :)
評論
⋅
I don’t know if it’s the market lately or the whales who have destroyed the volatility, but it’s just not normal anymore. The whole charm of this market is almost gone. Only action left are those spikes up and down, in tradeble unless your in it before it happens
評論
⋅
Not at home so I can’t really judge what is going on, but remember this market is to confuse everyone. So it COULD make that move like in the chart above, with the colours. Meaning we could start the purple area now or soon. The h&s says we drop some more, but it’s an ugly h&s so not 100% reliable. I will try make a new analysis later tonight
評論
⋅
So price did follow that blue line but more importantly it stayed below that red resistance line. So that is a level to remember. Looks like it's making a bear flag now suggesting we could drop more from here. But these flags are becoming to big lately and less reliable.The purple support line and possible neck line of that H&S i posted a few days back has been broken, we could see s retest of that level as well.
評論
⋅
Like i said, those flags are becoming less reliable. These are controlled moves the whole day long. Anyway, looks like it is follow the path of that fractal chart
評論
⋅
Here it's in that red resistance area again. Above this level should give room for higher prices
Explaination for noobs by a trader.
->
W figure is not completed it's a bearish pattern
H & S it's a bearish pattern
Will form a M it's a bearish pattern
no strength after the big pump bearish 5 days after the pump we are at the same point !!!!
Lower high it's a bearish pattern
Indicator are bearish
bull are tired bearish
The pump we have seen earlier whales want their cash back before dump, it's bearish .
Fish are thinking this will go up, perfect for whales because huge amount of fish will buy them if it's progressive(like now)
bull after bull will begin to be: bear because professional indicators (overbougth stoch 1 day ) and (1month stoch must finish to go down to be oversold for a healthy trend) will rekt them bull after bull .
The chart of 2014 is exactly the same of the 2018 chart and the next move is Bearish .
Whales and new entrants want to have the best position .
With cme and bitmex they can short btc with x100 imagines if the whales do that , sure result is down !
Whales need to have the best opportunity, best ROI , we are speaking about hundred of billions $ maybe in the futur, thousand of billions $ not kid's money at all ...
why they won't short to buy at half price ??
If they can make it !
SO The best situation for them is making people believe this will go up , this will create a sheep movement of buyers and angry bull ,in a general bearish trend we have bullish movements, it's one of these . The plan is working well, they will have thousand fishes to buy them because bulls people are thinking we are going up, there they can make money and take your cash.
Have a nice day.
nicknothing
⋅
@tusco92, but comparing bitcoin 2014 with 2018 doesnt work. Bitcoin '14 had a market share of 90% now it is down to 40%. I think it would make more sence if you compare BTC '14 with the overall crypto market of today. If you do that, the bubble "capitualtion-phase" (whitch was valid for all the market, not only BTC) could at least in my interpratetation already have happend. Having a quick look on the BTC-Dominance chart from coinmarketcap it seems that we are in the beginning of an altcoin ralley, witch would also drag the btc price up, or at least stabilaze it thus validating the end of the "bubble". I could be really wrong but i wouldnt dare to go short on bitcoin at this moment.
trader4ext
⋅
@nicknothing, which witch do you mean? :D sorry, just kidding.
@nicknothing, really no need to be sorry, it was an extremely dumb comment I made. I make so many mistakes myself! But I DO love witches ;) (especially when they drive up BTC prices haha)
nicknothing
⋅
@tusco92, but comparing bitcoin 2014 with 2018 doesnt work. Bitcoin '14 had a market share of 90% now it is down to 40%. I think it would make more sence if you compare BTC '14 with the overall crypto market of today. If you do that, the bubble "capitualtion-phase" (whitch was valid for all the market, not only BTC) could at least in my interpratetation already have happend. Having a quick look on the BTC-Dominance chart from coinmarketcap it seems that we could be very well in the beginning phase of a bigger altcoin ralley, witch would also drag the btc price up thus validating the end of the bubble-downtrend.
msantamaria86
⋅
by now i honestly don't even read before hitting the like button, i know i will enjoy what i'm about to see, ty for being the best on TV.
botje11
⋅
@msantamaria86, well thats a very nice compliment, thank you :)
UnknownUnicorn1780802
⋅
You guys notice the bitcoin price thing on your right screen with the Technical analysis tool? I have been following it for a month now. Whenever the arrow is on the SELL side, price will go up. When it is in the BUY side price will go down. It's like the total opposite. Anyone notice that? Or is it just me?
botje11
⋅
@lvg3g, Hahaha LOL no your not the only one. Like i mentioned a while back, i have some great contra indicators here on TV :) still not saying who they are :)
->
W figure is not completed it's a bearish pattern
H & S it's a bearish pattern
Will form a M it's a bearish pattern
no strength after the big pump bearish 5 days after the pump we are at the same point !!!!
Lower high it's a bearish pattern
Indicator are bearish
bull are tired bearish
The pump we have seen earlier whales want their cash back before dump, it's bearish .
Fish are thinking this will go up, perfect for whales because huge amount of fish will buy them if it's progressive(like now)
bull after bull will begin to be: bear because professional indicators (overbougth stoch 1 day ) and (1month stoch must finish to go down to be oversold for a healthy trend) will rekt them bull after bull .
The chart of 2014 is exactly the same of the 2018 chart and the next move is Bearish .
Whales and new entrants want to have the best position .
With cme and bitmex they can short btc with x100 imagines if the whales do that , sure result is down !
Whales need to have the best opportunity, best ROI , we are speaking about hundred of billions $ maybe in the futur, thousand of billions $ not kid's money at all ...
why they won't short to buy at half price ??
If they can make it !
SO The best situation for them is making people believe this will go up , this will create a sheep movement of buyers and angry bull ,in a general bearish trend we have bullish movements, it's one of these . The plan is working well, they will have thousand fishes to buy them because bulls people are thinking we are going up, there they can make money and take your cash.
Have a nice day.