Bitcoin Price Thread

bitcoin
cryptocurrency

#5510

yes, but the market hasnt moved and it is about the same on the rest, just stayed there cause of the indicators I have already placed :sweat_smile:


#5511

No worries man haha thought you was looking at it like why isn’t it moving :flushed::confounded:


#5512

Here is a cleaner look on the Bitstamp … check the RSI too, very oddly similar looking :thinking:


#5513

The same move replicated could also mean a retest of the descending triangle.


#5514

yes @Clarky663 and also note the distance from low to top wick in your green box, it is aprox 63%, which is about the same right now if BTC decides to move up from its current position … a nice bull trap could be formed once again.


#5515

Just using the bouncing ball/rubber band logic, the drop this time was more severe so the percentage rise could well be slightly higher than just 63%


#5516

I have been using CMC volume data as it captures the aggregate of all the exchanges. I see anything above $5B daily to be pretty healthy for these price levels.


#5517

@woonomic

Putting together the current snapshot of market price action and fundamental blockchain indicators here’s my most feasible scenario for the coming year. Not a map for trading, but should help long term HODLers judge when and at what price levels to enter.

Be aware the above scenario is contingent on a bounce upwards to test low 5000s. Currently the short term price action is consolidating into a wedge with hidden accumulation (according to the OBV indicator), this suggest there is more probability of an up move from here.


#5518

I like :+1:t2: :ok_hand:t2:


#5519

This thread has turned into a “what triangle can you see today” :rofl:

Edit :Wankers for the triangle shaped shit :rofl: below


#5520

volume and sentiment, thats all you need at this stage to see this asset cant hold its pants up


#5521

No doubt. And one of those triangles will prove TA works, right?


#5522

A broken clock is right twice a day so they say :joy:


#5523

I opened up a short yesterday so I’m pretty good for now


#5524

Reason being we failed to break that upper resistance.

I’m happy to just watch it bounce off the moving averages. Not much in terms of it going up just yet, needs some volume.

Hopefully next stop the 89EMA


#5525

If LTC breaks $42 it will see $47 pretty fast before a pull back, and if LTC breaks first BTC will come along for the ride to $4400ish :raised_hands:t2:

Hasn’t happend yet @MaxP :eyes:


#5526

Still keeping this btc short open for now though, close it if we push passed that resistance then take a long.

Not looking for bullish trends in a bear market though for btc. Like that wedge I drew. The chances of that playing out are so slim because the bears can attack at any moment


#5527

IMight see that head and shoulders play out on LTC, have to seeeeee

Not a lot of volume though. I should really start checking the price before I write on here lol
Also divergence on the RSI. I’d be looking for a confirmed breakout before making a trade. Be careful

TRX would have been the better option, looks good.


#5528

Ripple having a little leg up @Jacko1988

Could go back up to test the 55 ema on the daily, I don’t chart xrp so not too sure though


#5529

.39 and back :chart_with_upwards_trend::chart_with_downwards_trend: