Crypto Screener Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – January 2018

This topic contains 12 replies, has 4 voices, and was last updated by margincall margincall 1 year, 4 months ago.

  • Creator
    Topic
  • #1201
    margincall
    margincall
    Keymaster

    This is the thread for market analysis on the Bitcoin markets in the month of January 2018.
     

     

     

     

     

     

     



Viewing 12 replies - 1 through 12 (of 12 total)
  • Author
    Replies
  • #1473
    margincall
    margincall
    Keymaster

    Quick update on the BTCUSD market for the short term.

    btcusd forecast 28 jan 2018
    We can see a lot more positive fundamental news coming out this weekend and the chart is reflecting that confidence.

    We can see that there is a nice channel building and the RSI is ticking higher confirming, at least on the very near term, that the bulls are here.

    We have some bullish candlestick formations within our channel and I would expect a break above the channel to gather some good bullish momentum.

    I think the futures closed a lot higher than many expected and this has summoned some confidence back into the market.

    We broke out of our immediate down trend but prices are still getting rejected by the 10 MA, which could mean a bit more see-saw action in the 10500 – 12200 zone.

    Please note there is heavy resistance around 13k and we will wait for that level to break to confirm a bullish trend.

    #1458
    margincall
    margincall
    Keymaster

    Quick update on the BTCUSD markets for the short term.

    btcusd 26 Jan 2018 Forecast
    We can see that the market is clearly hitting against the ceiling at around 11600 – 12000.

    With the Bulls staying shy of the market we can see that the demand is dwindling and the CCI might switch over to Bear mode soon.

    On the short term I would advise caution to those speculating on the Bitcoin markets. We will see the CME futures expiring today and get a clear idea what the street is up to.

    Short term support for BTCUSD is at 9k – 10k.

    Medium/Long Term support could be as low as 7k or even lower.

     
    BTCUSD 1week candles 26 Jan 2018
     

    It is a good practice for traders to take a look at the 1day and 1week candles to asses complete situation the market finds itself in.

    Even though I believe this is still a very healthy correction for the market, many speculators/investors will reassess their commitments when/if $9k should break.

    Feel free to discuss this trade idea with us.

    #1455
    margincall
    margincall
    Keymaster

    Quick short term update on the CME BTC1! (Futures) market.

    btc1 futures forecast
    We can see a magnificent cup and handle being painted, except it is upside down, also deadly is the h&s hidden within this cup. This gives us a high probability that the market will turn south should the market continue on this volume.

    Support for Bitcoin is still at $9k to $10k on the shorter term and we can expect quite a lot of volatility should prices drop below $9k.

    Weis should be announcing their crypto ratings in a few hours from now, lets be patient and wait for the market to show us the way.

    Feel free to come chat to the market Wizards on our Discord.

     

    #1447
    margincall
    margincall
    Keymaster

    Quick update on the Bitcoin USD market.

    BTC USD forecast
    The bears are clawing into BTC at this point with a classic bear trap over the weekend, now painting the classic reversal candles, once again.

    Although I don’t see Bitcoin dropping like a stone to 6k, I think we might have a few good shorting opportunities ahead of us and a slow decent to 8k, 7k and maybe 6k. (should the bulls stay away)

    Short term support in my opinion is between 8k – 9k.

    Medium term support between 6k – 8k.

    I should add if prices consolidate below 9k there will be a lot of speculators looking to exit the market which could give us the dip to 6k or even below.

    A more realistic figure would prob be around $7500 to catch the knife, but this is crypto and anything can happen.

    If you are looking towards the moon, pray the bulls buy some BTC and push prices past 13k, before there will be any hope for recovery.

    Feel free to discuss this trade idea with us on Discord.

     

    #1400
    admin
    admin
    Moderator

    After the dip last week we can see quite a nice little bull run developing in the market.

    We could be facing a breakout or another selloff on the market here.

    Bitcoin forecast
    A lot of new traders might get the urge to fomo into the market here, but lets have a closer look.

    Short term speaking the momentum is clearly with the bulls however we are hitting the critical resistance levels at 12 800 – 13 000.

    Should the bears come out to play, it could be wise to stack some buy orders down into the 9k and 10k zones to play the bounce.

    We will take a look at the price action and see if we will consolidate above 13k before going long on the market.

    I am looking to short BTCUSD should sellers start stepping in at these prices, because there is not much trading volume at the moment, a push from the bulls or a bite from the bears will determine our next move.

    Feel free to discuss this trade idea with us in Discord. Safe trades.

    #1373
    margincall
    margincall
    Keymaster

    The Crypto space was greeted with some green this morning, but we are still signalling the bear on the Bitcoin markets.

    The volatility has been great for the boys at the street (and some day traders), with longs and shorts getting played for excellent gains.

    All the boasting aside lets see what we are up against.

    BTCUAD Forecast 18 Jan 2018
    When 12k broke we saw a lot of sellers stepping in, prices were pushed down and we had buy orders filled down into 10k zone, as well as going short with some leverage.

    Profit was taken on the buys from 10k and the shorts were closed around 9900. All in all it was a great play and looking to set up something similar here.

    Support is between 8600 – 9000, but it could be wise to distribute your buy orders and maybe a few below 8k. (Day traders)

    Bitcoin needs to consolidate above 12 800 (in the next day or two) and test 14 400 again before we will go back to the moon.

    Until then the forecast is sideways with a bit of BEAR.

    Feel free to discuss this trade idea with us in our Discord.

     

    #1367
    MrHanna
    MrHanna
    Moderator

    The Bitcoin market saw the 12k support break yesterday, prices dropped sharply into the 10k zone and recovered slightly to where we find ourselves now.

    BTC USD forecast 17 January 2018
    Since 12k broke the medium up trend we are now looking to the 10k zone for support. Some of our buy orders got triggered on the dip down to 10k, for some quick profits on the volatile markets.

    There could be another play down to the 10k zone, which will either be met by the bears or the bulls. If the bulls do not come out and support fails at 10k, I will stack buy orders down into the 8k – 9k zones to catch the knife.

    Most trades at this point should be considered high risk and as usual your only safe haven is fiat.

    With that said we need to consolidate above 12k and test 14k, before any breakouts to the upside will occur.

     

    #1359
    margincall
    margincall
    Keymaster

    Just a quick update on the Bitcoin markets today.

    btcusd forecast 15 Jan 2018
    We can see that momentum is still against the bull but we are leveling out on the MACD and a long term buy signal could get triggered should this movement up the trendline continue.

    I think it is important to note that we have done a 50% retrace from the 6k level down to 12k, and it looks like the market absorb it quite well.

    This is a very healthy correction in my opinion and it wouldn’t take much for the bulls to push the tides in their favour again.

    On the flip side the market does look weak here, and should the lack of buying volume continue we could see 13500 fail.

    I expect a retest of 13k – 12k should immediate support at 13500 fail.

    At the moment we are still in no mans land concerning BTC, possible longs and shorts on the table, lets be patient and let the market show us the way.

    #1328
    margincall
    margincall
    Keymaster

    Taking a look at the BTC USD market as we go into the weekend.

    This week we saw some good selling volume on the market, accelerated by the South Korea “news”.

    We saw good buying pressure again at the 13k level, however a lot of Long contracts are being liquidated hinting that the some of the big players are bearish at this point.

    btcusd forecast

    The market is in a clear down trend from $20k and we can see how support has been solid between 12k and 13k.

    The immediate selling pressure is in the 14k – 15k zone and if the bulls can’t push the prices past 14k we are sure to revisit the 12k -13k range again.

    We can see that the momentum is still in the favor of the bears at this point and the buying signal for the long/medium time frame has not yet been triggered.

    btcusd forecast 12 Jan 2018
    When we take a look at the 1hr candles to get an idea of the shorter time frame, we can see that the momentum is turning and it is starting to look like a classic bull trap.

    Lets be patient and wait for the market to show us the way.

    Sentiment is bearish on the short term until prices consolidate above 14 400. Should 12k fail I will look to the majors and fiat as a possible hedge.

    On the medium/long term we are still bullish until support breaks between 13k – 12k, with the latter being the most critical. Should these levels hold we could expect a bounce as early as this weekend or next week.

    Feel free to discuss this trade idea with us in Discord.

    #1262
    CheesePuff
    CheesePuff
    Moderator

    Apologies for the lack of trading advice this weekend, we are hard at work setting up our Discord to be the ultimate. But enough boasting, let’s take a look at the markets.

    BTC USD forecast 8 Jan 2018
    We are taking a look at the day candles, to get an idea of the longer term picture for Bitcoin versus the US dollar.

    On the chart we can see how the breakout above 15 500 played nicely, however we can also see the sellers stepped in above 17 k, and the selling pressure broke the short term support at 16 500.

    A lot of longs were getting wrecked again, like the usual Bitcoin moves. We saw short term support kicking in around 15 k, however the MACD indicator is hinting that it will get tested pretty soon, and in my opinion we will probably test the 14 k zone should the bulls stay shy of the market, or jump onto the Ethereum train.

    We can see the bottom trend line offering good buying zones for those looking to get in on the bounce. In this kind of situation, traders would stack their buy orders in the 14 k zone, and down into the 13k zone.

    Please note, this is usually accompanied by adding a stop loss below the bottom trend line, because should the medium term trend break, prices will go back down to the 12 k or maybe even 10 k zone. So far the bounce has been paying nicely for some traders on the Bitcoin market and we can see that the medium term trend is still bullish, and we are still experiencing a correction in the market.

    #1230
    admin
    admin
    Moderator

    The Bitcoin market is looking quite solid lately and pushing against the previous resistance we saw around 15400 – 15600.

    btcusd forecast 5 jan 2017
    We can see that the market has been moving up slowly since we found support at 12k usd on the 30th of December last year.

    In my opinion we will test the resistance at 15600 should the momentum keep going in the favour of the Bulls and maybe as high as 15700, however there is still a lot of selling pressure and if the trading volume does not increase I expect that we might test 15k and revisit the 14k zone before we push higher again.

    Short term support for me is at 12k – 14k and resistance is between 15k – 16k, with a break above 16k the most like to summon us some fomo’ers back into the market.

    All jokes aside, BTC is still a juggernaught in crypto and should it start to move, take care with all your small market cap alts. 😉

     

    • This reply was modified 1 year, 5 months ago by admin admin.
    #1202
    margincall
    margincall
    Keymaster

    I am honored to present you with the very first report of 2018! The Bitcoin BEAR news is certainly out on the media, but I am pretty confident in the Bitcoin market and I think we are still busy witnessing a long awaited correction in the market.

    btcusd forecast 2 January 2018
    Being a purely technical trader I will ignore most of the news as usual. Here are my views on the current situation.

    The day candles is showing us a very nice H&S pattern, which is a very bearish signal, confirmed by the negative PPO.

    I think there is still a very good chance for a push up to the 15k level, where we could see the market turning bullish should the bulls get momentum on their side.

    When we are looking at the cycles we can see that there is a good probability that BTCUSD will trade in a very nice triangle before showing us the next move.

    Support levels for me are still the same – 12k – 13k.

    I expect some movement should prices consolidate above 14k with possible breakouts at 14400 and 15600.

     

Viewing 12 replies - 1 through 12 (of 12 total)

You must be logged in to reply to this topic.