BTC might do something nice soon. TA only ( No crystal Ball/s)

[Pab]

Yesterday was interesting
Price jumped  over 4100 even 4200 on finex then there was dump a red candle what we know from past.But support has been found on 4040 $ .Support was strong enough to stop dump. Volume was high.Now bitcoin is traded between 4060$ and 4080$
It looks good to me all together

[fourpiece]

Someone is collecting huge amount of btc before the bounce that were all waiting for will finally begin. For the past weeks bitcoin has been stable at 4000$, which is a good sign that bitcoin is ready for the take off.

[ethereumhunter]

Yesterday was interesting
Price jumped  over 4100 even 4200 on finex then there was dump a red candle what we know from past.But support has been found on 4040 $ .Support was strong enough to stop dump. Volume was high.Now bitcoin is traded between 4060$ and 4080$
It looks good to me all together

So we have a chance to see the price will be back to $4200, right? I hope that in the next week, the price will be at that price so I can sell some of the bits to gain the profit

The line still on the up although the red candle still appears, I think it will be gone in the next day. And now, we have a good price to buy more bitcoin right now while the red candle still there.

[peter0425]

Hey mikeywith,

What would you think of the recent Bithumb hacking incident? Do you think it will have a negative impact to the market, if yes then TA might be needing some adjustment as well? Thank you.

[coolcoinz]

So, according to the charts we should be heading for something similar to June 2015, a mini rally to retest the red 50, which should bring us somewhere above $5k, and possibly lead to a golden cross somewhere around... yes, June 2019. It's going to be an interesting year for sure. It's going to be funny if we don't end up getting big capitulation candle the bears have been waiting for since that big drop from 6k.

[The Cryptovator]

Bitcoin strongly trying to stay above $4K. And I think its reasonable enough due to few positive news around market. On the other hand its look bitcoin volume healthy enough. Bitcoin have to cross $4.5K and should be stable for few days before new bull run. Because still market in bear mode even most of alts are recovering due to bitcoin stability. SEC drama is main problem now a days. If they cancel all applications then it will effect one time. But drama is really annoying to growth of price. Let's see if bitcoin could break $4.5K the we could expect new small bull run at least above $5K.

[exstasie]

So, according to the charts we should be heading for something similar to June 2015, a mini rally to retest the red 50, which should bring us somewhere above $5k, and possibly lead to a golden cross somewhere around... yes, June 2019.

If 2015 is the model, then it should be later than that. The June rally failed at the 50-week MA and I would expect the same here. The golden cross didn't happen until the October rally several months later:



If we follow the same path, we're looking at a golden cross (and breakout into a bull market) sometime in Q4.

[darewaller]

I doubt if this Bitcoin is willing to give a chance for the BEAR to pull it down again, The bull are really winning for now and I see them continue to win from now on because if Bitcoin is to fall below the price it is now, the difference might not be more than $40 which will still not make it fall below $4000, so it might be heading towards $5000 from now on.

Because right now, FOMO is beginning to ginger me into putting more money because I have been waiting for $3800 mark and its seems like we might never see it again, same way I am feeling now is the way many people will out of FOMO put in more investment between now and next week.

[adaseb]

I am giving you a merit because you actually take the time to post some nice charts unlike most posters.

Regarding the yellow (20 SMA) its not a very good indicator because back in June of 2015 it gave a false break, and later on it looked like would act as support but it broke thru, then it acted as resistance and it broke thru also and finally we got that massive rally which made all the SMA point up.

However there is a good chance that the current 20 SMA might not mean anything since the 50 SMA is really far away and might not break and head straight for it.

[mikeywith]

Hey mikeywith,

What would you think of the recent Bithumb hacking incident? Do you think it will have a negative impact to the market, if yes then TA might be needing some adjustment as well? Thank you.

I do not bother with news , i trade charts and it works for me, i can not be bothered about news and i do not think the alleged hack caused or will cause price to do anything out of the ordinary.

If this weekly candle closes above 20sma then we could see some spikes we have not seen for months, if we fail to close we will very likely keep ranging between the 20SMA and 200SMA and nothing major will happen until one of these is broken.

[peter0425]

Hey mikeywith,

What would you think of the recent Bithumb hacking incident? Do you think it will have a negative impact to the market, if yes then TA might be needing some adjustment as well? Thank you.

I do not bother with news , i trade charts and it works for me, i can not be bothered about news and i do not think the alleged hack caused or will cause price to do anything out of the ordinary.

If this weekly candle closes above 20sma then we could see some spikes we have not seen for months, if we fail to close we will very likely keep ranging between the 20SMA and 200SMA and nothing major will happen until one of these is broken.

Hey, thanks for the response. Another good tips you have given us. So we should expect that the price could be in another sideways patterns unless something happen that can break it. Hopefully though that break out is a upward trend around $4200-$4500.

[Theb]

One thing to remember is that moving averages when aligned on their proper order, meaning the 20 SMA will be above 50 SMA (and the 200 SMA will be below on both of them) will signal a confirmation of the bull run. But by the looks of it you are right to say that it might actually take weeks before a bull run happens. Based from the chart you have given the 20 SMA shows no signs that it will do a crossover above the 50 SMA line, in fact it still shows that it is still going down nearing the 200 SMA which is a scary scenario to see if it crosses below that said moving average.

[lablab03]

The nice things has began and we are seeing more of bull than red this days. If you look at the market behavior you will agree with me that since the beginning of this year those that are ready to sell are lesser than those that are ready to buy and that is a good signal about the market.

true the behavior of market change now and finally it keeps showing also a sign that there will be a something good will happen soon .i hope this performance of market now will not change and will keep progressing until year end so that we can at least regain gradually  our losses on it.

[Naida_BR]

Someone is collecting huge amount of btc before the bounce that were all waiting for will finally begin. For the past weeks bitcoin has been stable at 4000$, which is a good sign that bitcoin is ready for the take off.

I think that someone has a reason to keep the price at 4k for such a long time.
Maybe it is a strategy to accumulate more bitcoins before the long bull run start. It makes me suspicious to see the price dropping immeidiately every time we have a considerable increase following a big red candle.

[Oceat]

Someone is collecting huge amount of btc before the bounce that were all waiting for will finally begin. For the past weeks bitcoin has been stable at 4000$, which is a good sign that bitcoin is ready for the take off.

I think that someone has a reason to keep the price at 4k for such a long time.
Maybe it is a strategy to accumulate more bitcoins before the long bull run start. It makes me suspicious to see the price dropping immeidiately every time we have a considerable increase following a big red candle.

If it's time to grow then it's time no matter what's the reason it is. But of course, we shouldn't be too confident to do some trading in the market since it there is a chance that this is just a bull trap but to me, it's not. Let's just wait and see what would happen after a few weeks and if this price continues to grow little every week then i think there is something that's pushing it.

[LeGaulois]

@mikeywith
Sunday is gone and BTC is at $4,150. Now, I am interested to see how the week will be. if Bitcoin could continue on this path it would be nice to get it at $4,2k-$4,3k.
Something that could be nice as well is to not see BTC failing under the $4,100.

[mikeywith]

@mikeywith
Sunday is gone and BTC is at $4,150. Now, I am interested to see how the week will be. if Bitcoin could continue on this path it would be nice to get it at $4,2k-$4,3k.
Something that could be nice as well is to not see BTC failing under the $4,100.

The weekly candle did close above 20sma, current overview is bullish, we have some resistence on small tf at 4200$ area but i suppose we will break it pretty soon, we have also gotten back above the up trend line which we fell below on 4h tf. Let is see if we hit 5k in 2-3 weeks

[Astargath]

I don't know basing most of your technical analysis on SMa's seems like a bad idea. It is not the first time that bitcoin breaks the 20 moving average and then drops right down, however it does look like a big move is going to happen soon. It basically reminds me of the market before the last crash, lack of volume, sideways trading, even though it's a bit more bullish than last time, not exactly sideways but still quite sideways for something as volatile as bitcoin. Perhaps a big bull breakout will happen this time and we can recover back to 6k+ but who knows, until we have some clarity you can't be sure.

[NeuroticFish]

This means , if we don't drop below 3850$ before Sunday (weekly candle close)we could very likely enter a mini-rally and see sub 5000$-5600$ in a few weeks.

Wow, your "no crystal ball" seems to work good. I have to admit, I hoped for growth, but didn't expect such a big green candle.
Just.. we passed 5000$ extremely quick, clearly not in weeks, and now the price is obviously adjusting downwards.
I hope it'll stop falling before going under 4100$. Of course, I don't mind if it'll go sky high 

Anyway. Great job, OP!

[Pab]

Incredible move
How do you think mikeywith what will happen that week
i hope for consolidation between 4600-5000 than break to 5500$
Today break was on volume
There was 9mln $ buy on Bittrex.I talk about dollar not usdt.Dollar volume on trex is much bigger than usdt
Interesting point is that yesterday dollar index has fail below 200 MA .Next day bitcoin move above 200 MA
 i am saying nothing is accidental