Crypto Screener Forums Bitcoin (BTC) Forecast – Technical Analysis Bitcoin (BTC) Technical Analysis – September 2017

This topic contains 30 replies, has 3 voices, and was last updated by AndreSnyman AndreSnyman 1 year, 5 months ago.

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  • #336
    admin
    admin
    Moderator

    This is the thread for BTC forecasts in the month September.

Viewing 15 replies - 16 through 30 (of 30 total)
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  • #488
    admin
    admin
    Moderator

    So the 3800 level got rekt pretty hard today, bouncing off the 3500 for now. There could be a trade here up to the 3650 level, but I will personally not be risking it. Let’s see if support develops here over the weekend, my personal opinion (don’t listen to any opinion) is that there will be lower prices in the coming weeks.

    Serious Bear action here, trade advice: Caution, wait in fiat until further notice.

    #487
    margincall
    margincall
    Keymaster

    It looks like the Bitcoin market is busy forming support after all the bloodshed. The price has dipped below 3800 twice and found buyers.

    Keep an eye on the 3980 – 4180 zone.

    #486
    AndreSnyman
    AndreSnyman
    Participant

    Monday we said that btc will test 4345 and look at he price action. 2 times it gave candle information that btc is going down, 3980 broke! I am short of bitcoin with a buy back above 4100!

    This is going to be interesting, I do not think many people in bitcoin experienced a bear market.

    Support levels 3490 and 2980. You can buy at 3500 and take profit if ti bounces nicely, be careful not to turn to quickly bullish!

    #484
    margincall
    margincall
    Keymaster

    Trade carefully at these levels, 4300 – 4400 is looking like a classic bull trap to me. To avoid getting caught on the wrong side of the market we will wait for 4500 – 4600 levels to get broken before calling a bull market. Considering the China rumors are in the Wallstreet Journal already I will be expecting more blood.

    Advice, trade carefully.

    #474
    AndreSnyman
    AndreSnyman
    Participant

    Btc Day Chart : Broken Support

    BTC has broken Support on the day chart, the hour chart will give us direction for this week but btc is bearish!

    Support is 4150, and 3980.

    Resistance is : 4315 and 4500.

    This is new territory for  a lot of traders as bitcoin recovered from every bearish signal that ever came up on the charts. It is normal for markets to move up and down, I think Bitcoin can test the resistance at 4345, if price action confirms the bearish signal we can move down to 3500 and even 2980! If 3980 breaks expect a sudden movement to 3500 and maybe 2980! I am a long term bull on btc so if this happens do not wait to buy but place orders to buy btc!

    #471
    margincall
    margincall
    Keymaster

    A lot of action on the market this weekend as the rumours of China banning Bitcoin exchanges is starting to set in. Monday will reveal more news about this.

    I expect a more downward trend if the 4000 support level gets broken. If we find support at 4000 we might see a bounce toward the 4300 zone. Bear in mind the China rumours will have a big impact if/when they become official news.

    #448
    AndreSnyman
    AndreSnyman
    Participant

    The moving average seems to be levelling at 4600-4630 . The shorter term charts is showing reversal with resistance at 4660 – 4670.

    I will stay long above the trend line of the day chart, below 4580 it can test the trend line at 4400! I am not in btc to make short term trades, if you want to trade short term have a look at level of 4580!

    #445
    margincall
    margincall
    Keymaster

    Bitcoin broke 4600 yesterday but failed to close above 4700. I see bearish momentum on the 1 hour chart and will be looking at Bitcoin to break above the 4600 – 4700 to confirm further bullish action.

    #436
    margincall
    margincall
    Keymaster

    My short term view, we need to get above purple lines to confirm more up.

    #430
    AndreSnyman
    AndreSnyman
    Participant

    BTC daily bounced nicely from support, the RSI moved out of oversold territory. We are staying long above the trend line.

    #415
    AndreSnyman
    AndreSnyman
    Participant

    BTC Panic

    I have attached 2 charts this morning, which one will be the one to follow.

    1st Chart is coinbase daily chart. There support is still in tact of 4240. They had a holiday yesterday, let’s see what the Americans do tonight.

    The 2nd chart is Bitstamp daily chart. This chart broke the support line on 4240. If it closes below the line it will be bearish.

    We need to keep a cool head in times like this, I have seen normal shares drop 1000 + points in a day only to recover in the next week.

    Wait for an entry on the hourly chart to buy back your btc. BTC is oversold, remember nothing changed fundamentally with btc, this is only people panicking. When everyone buy’s, you sell. When everyone sell’s, you buy!

    #412
    AndreSnyman
    AndreSnyman
    Participant

    BTC support of 4250 needs to hold.

    Remember when everyone is panicking buy and when everyone is greedy sell!

    Bull market still in tact.

    #404
    admin
    admin
    Moderator

    State of Bitcoin at the moment.

    Bearish

    #391
    margincall
    margincall
    Keymaster

    Nice price action today as a new ATH was set yesterday around 4980, just before hitting the 5k mark we saw sellers stepping in and there has been some decent selling volume since.

    It looks like Support at 4630 will be tested around the 0.5 fib. If we break lower we might start seeing the formation of a head and shoulders chart pattern on the charts.

    https://www.tradingview.com/x/G3D41weD/

    #373
    admin
    admin
    Moderator

    Andre I moved your new topic here. 🙂

    AndreSnyman posted:

    BTc is still strong, we are staying long but there are signals of retracement forming.

    Support : 4630, 4390 and 4540.

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