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BitcoinUSD (BTCUSD) @ BitFinex - The Next Move

BITFINEX:BTCUSD   Bitcoin / Dollar
BITCOIN             vs USD (BITFINEX) Update: Bitcoin             is looking very bullish at the 4h chart time frame. The 1h chart is not that solid, but that is only the short then, the daily chart looks strong.

I can see from these signals that Bitcoin             will continue its uptrend, and I will update this post if I can see more.

Note: For all the ALTCOINs traders, I suggest looking at the charts closely, and maybe consider closing your positions. Bitcoin             is always overbought, always "crashing", but it never does.
Being overbought is just a feature that Bitcoin             has, and everybody is always underestimating this coin.

Here it is again, going at it slowly, but surely, strong.
So close all your weak positions, and buy the coin that is going UP.
BITCOIN             .
Kommentar: BitcoinUSD is at the top, but with not enough momentum, it will hover around there until either side takes the upper hand.

The charts are giving me an over bigger feeling of up, up, up, but the seller pressures is saying, no, no,no. So let's what and see where the price will go, go, go.

Short term chart:
Kommentar: There is strength in this drop, here is a chart, with possible support:

Kommentar: Looks like the king is just the king... Already fighting back strong.
Kommentar: You guys think my support will hold?
Trade ist aktiv: Bitcoin is already preparing for a reversal...

Kommentar: We are then going to 23k, and then 28-30k.

Just guessing, because I haven't analyzed that far, but, if you look at the mini-crash, it is obvious that Bitcoin is just a huge, big, strong, BULL!
Kommentar: Bitcoin is going for a double bottom. Let's see if it holds.
Kommentar: Bitcoin is waking up. The 1h and 2h charts show strong signs of bullish momentum building up.

These signs are already reaching the 4h chart, but the daily chart is overloaded, it can't take anymore up. Now, for Bitcoin, this is normal. It took two days break and is ready to try again as soon as the trading day is gone (30 minutes for now). Bitcoin is basically always overbought and always going up.

So, looking at the momentum on the shorter time frame chats, we can expect for Bitcoin to make a new run at the previous ATH ($19,891). If this level is broken, depending on the momentum and what the charts says at the moment of that happening, we will see a very nice bull run.

I will keep you posted if anything changes. I will take a look at the chart later tomorrow once more.

Thanks for reading.
Kommentar: From my last update, short term indicators pointed me toward a retest of the last high, which didn't happen, the highest Bitcoin reached after my update was $19,175, and then it started to go down.

As I mentioned, the 1h and 2h charts had bullish signals, but the 4h chart wasn't there yet, and long term Bitcoin (daily) was overloaded, overbought, and it seems that the weight was too much, so it fall.

Now, we are sitting close to the main resistance line I drew, and the second one wasn't touched. But it is still there waiting to be tested by all the bears. Where do we go from here?

According to the chart that you will see below, Bitcoin is set to test the $17,000 level soon, or remain locked in the $18,000 level. Anyways, it can enter this new range of $17,000 - $18,000 and remain there until consolidation has taken place and a new trend is set up.

Look at the chart and you will understand:

Hope that helps.
Kommentar: Can Bitcoin and Bitcoin Cash go up together? Not likely, and Bitcoin Cash is going full steam ahead. Bitcoin might drop further to the next support level.
Kommentar: BTCUSD has gained momentum on the short term and is showing signs of a reversal (to move upward).

On the longer term, daily chart, still hasn't confirm a change of trend, still down. Confirmation can be achieved, from the charts in maybe 4-8 depending on the movements of the coin.
Kommentar: Looks like Bitcoin's price will keep on declining, I will share two charts with you.

1D chart trending downward strong:


1H chart as well.
Kommentar: BTC Update: I am seeing early signs of reversal in the BTCUSD charts. These are EARLY signs, but nonetheless, they are starting to show up.

I will give it 1-2 days to see stronger signs on the charts, after that I will revisit and see where things stand. But this is positive news for Bitcoin bulls and all those wanting to see the KING back in its glory.
Kommentar: The "early signs" where just that, early signs, and they didn't materialize to anything good for the price of Bitcoin. Add another 2-3 days to my earlier post, after this new development, to see BTC start trying to form a new trend.

In the meantime, instead of focusing on "when" Bitcoin price will reverse, let's see where we stand now.

Let's look at the 1D chart:

- We have 5 red candles and the beginning of a new negative candle count. Which is a bearish signal.
- The EMA30 support level was touched ($14,133), we haven't closed below it, but it was broken and we reached the $13,300 lows, from which a strong bounce happened. This is incredibly bad if we close below this price. But this is not over, many bearish signals are still being given by the chart.
- MACD just crossed over to the negative side. Very bearish.
- RSI & STOCH are both trending downwards.
- At this point, all the early signs of a reversal are gone and we only have bearish signals. Based on that, the BTC price will continue its decline until it can finally establish support. Once support has been established, we can talk about the next step.

Kommentar: CORRECT CHART:

Kommentar: The next support line / level:
Kommentar: Looks like we reached a bottom on the BTCUSD 4H chart.
The RSI showed oversold, and Bitcoin tends to bounce back once it hits the oversold line on the RSI.

Note: We didn't reach oversold on the 1D chart though. So not as a strong a signal as one would like but still a very strong signal.

Chart:
Kommentar: Unless something unpredictable happens, it seems that the BTC correction is over.

Look at the chart, you can see all the indicators reversing, and the candle where the bottom was reached, around $10,000 usd per btc, has a large stick pointing upwards, meaning, the sellers sent it down but buyers bought it all back right away...

This is a 4h chart:
Trade ist aktiv: Bitcoin is starting to go up now. We will face resistance in the $15,500 - $16,000, if we get pass that, we will be in good waters. So far so good from my update 15 hours ago.



Let's keep this up Bitcoin, the market is looking a lot better now.
Kommentar: Bitcoin has been holding strong, we still don't have the "green" light and we will definitely see more sideways but I think our next move is up, after the consolidation. It can take several weeks though according to what I am seeing from the daily and weekly charts. As long as it remains stable and doesn't go down. It is all good.
Kommentar: If Bitcoin keeps on going up, it will still face resistance at the $15,500 - $16,000. If those levels are broken, then we keep on moving up until the next resistance.
Kommentar: Official Segwit2x website claims Fork will happen on 28th December: http://b2x-segwit.io/

This can be positive for Bitcoin, as it can be bad, who knows these days.

I do know that you are going to get a new free altcoin, B2X or (Segwit2x), don't know how it will be called.

So, what I did is that I secured some BTC just in case from my coins that are in profit. You can sell 10-20% of all your trades in profit and leave it there just in case.

This will do three things:

1) Secure your profits if BTC takes off.

2) When BTC do take off, you will be earning on the way up.

3) Give you funds available to buy new alts at the bottom.
Kommentar: Looks like the Segwit2x was a scam, or so people are telling me. I really don't know yet.

The obvious, Bitcoin didn't make it through the $16000 resistance levels, so we are back at square one.

Bitcoin seems to be holding nicely in the $13700 - $14300 range, but the daily chart shows that it is going down.

The weekly chart shows a strong bounce and points to this level holding. I can get more information from candlestick analysis, after this week closes on Sunday.

Other than that, all I can see now is Bitcoin testing and resting support until it is confirmed that it can't go lower, or if support is broken, that it will go down and test the older ones ($10,700 being the lowest from 22nd December).
Kommentar: Quick BTC update...

This is the Bitcoin trading channel, small and big, resistance and support:

Kommentar: What this Bitcoin chart tells you are the levels that needs to be broken for upward or downward movement.

It also tells you the possible sideways movement, which is within the channels. Right now we are likely to trade within the small orange channel, and the blue one is the bigger trend and resistance/support that needs to be broken to decide... WHERE TO NEXT, BITCOIN?
Kommentar: *** Chart Update ***

Here is how Bitcoins drop looks on my chart, still within the small channel:

Kommentar:
Kommentar: Quick update on my BTCUSD trading channel. This time I am using the daily chart.

The orange channel was broken, downwards, but the blue is still a bit far away. This support is sitting around $10,700.

Kommentar: Bitcoin Update:

A nice push up got us back into the orange channel...

Kommentar: BTCUSD Fixed Update:

Here is my BTC Channel, as long as we are in this channel, our trades are safe. If BTC goes wild in any direction, than the market moves in several ways.

But BTC most likley needs more to consolidate.

We don't mind waiting, altcoins is what we trade. When BTC goes back up, our profits will also gain. Win-win for waiting on altcoins, and waiting for Bitcoin to become KING again.

Kommentar: Bitcoin is moving good. I will update my chart when we hit the orange channel resistance level.
Trade ist aktiv: We are still within these channels, this is consolidation time for Bitcoin. Once Bitcoin wakes up, we have to watch in amazement, the market will roar!!!

Trade ist aktiv: Bitcoin is doing good, it is reaching the upper resistance of our channel. If we break this resistance, around $16,441.00, Bitcoin can start to challenge new levels and enter a new positive run. All the indicators on the daily chart support this movement, as they are showing bullish tendencies and plenty of room for growth, but, we still need to break this level and close above it on the daily chart to really seal the deal.

I would expect at least some action in the higher channel if this level is broken as described above. This is a short term analysis, so from there, we would look at Bitcoins next move. Where to next Bitcoin?
Kommentar: BTC is trading above the main (orange) channel, it managed to breakout and close above it. So Bitcoin is in the green, there are good chances for further growth.

Yet the daily and weekly chart are not as bullish as one would need for massive growth. So this might continue as steady low growth and maybe more sideways on the bigger channel.

Kommentar: Bitcoin Update: I just updated my Bitcoin channels, hope you enjoy it:

These are just potentials, anything can happen as the market is boss but, with this information you can have a calmed mind as you know what to expect depending on how the price moves.
Kommentar: Let's look at our channel closer one more time. Pretty simple, we are still accumulating... this can take a while.

Kommentar: Still keeping track of the big boy. Not much to look at here, as long as we stay on these channels, we can trade our Altcoins and make huge profits.

Kommentar: There isn't much to update here, we are still within the same channels, far away from support, up to $1000 away from support and holding strong.

We've been in this channel for 3 weeks. Nothing is really happening, just going up and down. This is ok, this is good. I still believe that this will take a while longer, so give it time, all is good.

Here is what can happen:

- If Bitcoin breaks support it goes down.
- If it remains within the channel, what is happening now, we go sideways.
- If it breaks resistance we go up.

Pretty simple.

Looking at the chart you can also see "higher lows", this is a good signal for staying within the channel, accumulation/consolidation, for when the time for the bears and bulls fight to come.

Here is the chart for your entertainment:
Kommentar: Bitcoin is still tradign within the channel. And we are still seeing higher lows, even with today's dip. Check it out.

It also hasn't close below the support line. The day needs to be over and the price close below this green channel for the trend to change. We are still on an uptrend but this can change really fast. You can see it from the chart.

The indicators are giving many bearish signals, but that's good. Corrections are good in my opinion, they stabilize the markets, remove all the weak hands, and prepares us for the next big bull run. I am all in. I want to see Bitcoin heading to $50,000 and more, and for that we need to correct any and all "unhealthy" growth and finally move on.



Note: By the way, I believe that this year the transaction fee/spam issue will be solved. The spammer will be kicked out by an upgrade on the Bitcoin software, removing the transaction fee problem. This is just a prediction and not an analysis.
Kommentar: My earlier channel turned out to be a waste, it was broken in just few days.

Other than that we continue sideways, with the indicators now starting to show signs of a possible reversal.

The weekly chart still points to more negative action, but then the week isn't over yet.

Let's see how the following days go.

Here is the daily chart with two different channels, the bigger old one and a new one (orange).

Enjoy.

1Day Chart:
Kommentar: Triangle formation on the daily chart.

I marked several different dates with vertical magenta lines for reference.

This is interesting to watch for learning and entertainment: 1Day Chat:
Kommentar: (On the chart above)
1st line = 13th Jan.
2nd line = 18th Jan.
Kommentar: We are still within the channel, and the price bounced right from the triangle support line, here is the chart:

Kommentar: In the short term things are looking good, looking up. But in the bigger time frame we are still going within a triangle and sideways. So we can go up even to $16,300 (just as en example) and still be within the triangle.

Only when one of these lines, support / resistance, is broken, we can expect something to happen, for now, we keep on going straight:

Kommentar: Bitcoin Update: Bitcoins triangle formation have been broken and we are now sitting on support line for the sideways channel:



Bitcoin is not going to "zero" yet, this is a huge correction but definitely something normal.
Kommentar: We haven't reach the lower support level but here is the channels without the triangles:
Kommentar: We are now hovering near a critical support level, the price bounce earlier happened right above the 100 MA line (green).

If we break this level, in the 10,700$ range, we will be testing new lows. You can just wait it out or look at it for your learning and entertainment. But corrections are normal, this is no big deal.

Look out for the RSI Oversold signal on the 1D chart. To me, this will mark the end of Bitcoins correction, we are likely to see a bounce once this happen, we still have some way to go.

Here is the daily chart:
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Complete noob question... but when I try to extend the timeline on my charts to show 100, 200 MA the chart keeps shrinking. Any reason why I can't show all the coins data?
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MSNEAD1992 AusCrypto5
@AusCrypto5, is your price scale set to auto?
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You only lose if you Sell
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It is so comical to sit and watch people frantically selling there positions not knowing what will happen next! Whats even funnier is watching an alts price damn near mirror BTC price actions. If BTC goes down, a big sell off of an alt. If BTC quickly recovers, the alt goes up. LOL. People this is not the end of the World, just sit back, take a breath, and relax! Good day!
+2 Antworten


Target Reached... from Dec 27th...
Any Questions?
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Lincoin lemosedmirf
@lemosedmirf, Yes, what's next
+2 Antworten
@Lincoin, Listen to me, I can tell you the future using my expert TA skills. It will go up or down.
+1 Antworten
Lincoin Poker909090
@Poker909090, Sweet goodness! :) Lol. But really, What is the general consensus leaning towards?
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@Lincoin, hahaha remember the days when you couldn't short bitcoin? ahh man those were good times.

The TA guys are leaning towards deeper push to $8k while some are saying that won't happen as we have reached the bottom already and will see a V soon. I personally am just sitting on my hands waiting to pull the trigger (for the 3rd time today) with some morphine on the side to numb all this pain.
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excuse my ignorance, but what is the RSI Oversold signal on the 1D chart?
+1 Antworten
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