April 3, 2018 at 9:21 am #17178
This is the thread for analysis on the Bitcoin markets in the month of April 2018.
April 26, 2018 at 10:49 am - Views: 2922 #17597
Bitcoin has thrown out some bearish signals on the 1 Day candles, lets take a look.
We can see that there was quite a lot of selling volume on the Bitcoin market yesterday and the bears took control of the 9k zone, for now.
I am looking for the market to stay above $8800 in order to remain bullish, however our trend line already broke once this morning dipping into $8700.
With this kind of market action I will usually wait to see when the bulls jump back in the party.
For now it still looks like a healthy correction and if we get a 50% retrace, some traders will seriously consider buying the dip.
Resistance is currently solid at $9000, should we consolidate below $8800 I would expect lower prices incoming.
The green box is a possible buying opportunity should we see a sell-off again in the BTC market, this is not set in stone, prices could go lower or higher than what I predict.April 25, 2018 at 9:46 am - Views: 2949 #17596
Quick update on the Bitcoin market versus the US Dollar.
We can see that the price action above $9000 pushed us to about $9600 before we saw the sellers stepping in.
Both of the indicators confirm the current selling momentum, however it is important to note the RSI is still above 50 on the 4hr candles and the PPO indicator is still in the positive.
It is normal to see a correction after a good bullish run in any market, I am looking towards $8800 – $9000 for shorter term support.
Like I mentioned in the previous report, it will be wise to follow the trend until a reversal is confirmed.
A word from the eternal bear, should we fail to consolidate above $8800 going into the weekend we could revisit the previous support zones between $6800 – $8000.April 22, 2018 at 6:31 pm - Views: 2988 #17593
Bitcoin has performed well the last week, gaining momentum and currently finding resistance at $9000.
We can see that both indicators are showing us that the bulls are currently in control, however some decent selling volume could break this bullish momentum.
With that said, it looks like we are reloading and getting ready to take on $9000 and possibly head to that $9500 price tag I mentioned last week.
In the markets things can change very quickly, I will be ready to take profits should we fail to stay above $8500 – $8900.
Should we experience another selloff I will see if we find support at $8000, and only then consider reentering the market.
With all that said the crypto space is experiencing some great bullish market action, I am a bull until this trend changes.
I will look to Bitcoin to signal a change in trend. Safe trades!April 15, 2018 at 9:23 am - Views: 3079 #17560
Quick update on the Bitccoin market, we had a good week with gains across most of the crypto space.
The market responded strongly after we tested the bottom of the newly formed channel, and coincidentally also broke out of our longer term down trend channel.
The bear flag that was painted in early April clearly failed, instead we received a nice jumbo candle and some good price action, a nice reminder about the big hitters in crypto.
This buying volume has left a nice little bull flag in its aftermath, from a purely technical point of view I am bullish on the markets.
We could see the bull flag fail in which case I would put our short term support around the 7400 – 7600 zones. $8000 being our near term psychological support level.
Should we stay above the $8000 support zone I would expect a push to about $9500 before some correction.
Summary: I am bullish above $8000, cautious above $7400, and I will look to the bearish side of life should we consolidate below $7400 at any point this week.
Higher risk trades will be closed should we fall below $8000, safe trades.April 10, 2018 at 9:35 am - Views: 3247 #17556
Good morning Guys and Gals, lets take a look at the Bitcoin market at the start of this week.
One of the most dangerous occupations in the volatile crypto markets is “calling bottoms”.
With that said, it is impossible to enter new positions if we don’t look for the change in the trend, and the eventual breakout.
In my opinion the Bitcoin market has started a little bullish trend (and possible bottom) on the very short term, since the start of April.
The flip side to this coin is that there is also a bear flag in the short term to contradict the recent price action.
For me to remain bullish on the short term we need to stay above $6600 with good trading volume.
Short term resistance is around $6800 and I would expect the market to give some direction soon.
Should we fail to break the resistance and fall through the current near term support zone, I will look to the bearish side, a possible test of $6000 – $5500, and according to some analysts on YouTube much lower.
So far the market has responded well above the 6500 support zone and I will keep an eye on what happens should prices consolidate below this price level.
Should prices consolidate above the short term resistance, we will most likely see a quick retest of $7200 – $7600, and perhaps a push into the 8k zones. Fomo depending it could go much higher ofc.
I will post another report should we face a breakout situation.
Feel free to discuss this trade idea with me in Discord, safe trades.April 5, 2018 at 7:56 am - Views: 3144 #17255
Just a quick update on the Bitcoin market as we had some good volatility on the market again yesterday after failing to secure the 7k zone.
The bad news on the chart is the fact that we have once again broken below the bullish trend line.
With that said we can see a higher low forming on the 4hr candles, should prices remain above 6600 – 6700.
This is a great place for the higher risk traders to consider a quick long or short depending on how the price action plays out.
In my opinion the bulls failed to secure the 7k zone, we are finding support on the previous 6800 mark, and still trying to break out of the bearish down trend channel.
The signals are mixed and there is a possibility for a bullish or bearish break going into the weekend.
What to look out for:
Short term support – $6500 – $6800
Medium term support – $5500 – $6000
Short term resistance – $7000 – $7100
Medium term resistance – $7400 – $8400
My personal view is still bearish, however there is short term gains on plate in cryptoland for the diligent traders.
Feel free to discuss this trade idea with me in Discord, safe trades.April 3, 2018 at 1:05 pm - Views: 3283 #17198
Lets take a look at the Bitcoin market versus Bitcoin going into the month of April 2018!
As we can clearly see Bitcoin managed to break out of the down trend channel again.
Another bullish signal for me (providing we stay above 7000) is the fact that the price action pushed us back above the longer term bullish trend line.
The bearish news is that we are still trading in the second down trend channel, the bulls will have to push prices past the near term resistance of around $7600.
Consolidation above 7600 will be a healthy recovery.
If the buying volume does not show up we will test the shorter term support zones, which in my opinion is around $7000 – $7135.
Higher risk traders will be looking to go long or short here depending on which way the price action will swing.
Should the bulls fail to defend the 7k zone, get ready for another dip and some more discounts.
Feel free to discuss these trade ideas with us in Discord. Safe trades.
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