Bitcoin BTC - Feb 1 Detailed Technical Analysis - Short-Medium Term Bear Trend To Continue
Bears Are Always On The Offense
How much longer can Bulls Defend?
Short-Medium term, I am bearish biased and believe we
will test the first support range in the short-term.
We see BTC shorts @ 23.8K BTC versus BTC longs @ 24.9K BTC.
For short term traders, we see BTC trending in a descending triangle with volume fading.
My short-term long bull scenario.
My short-term short bear scenario.
MACD attempted to positively tick, but was quickly rejected.
The daily RSI is trending above the previous resistance that now acts as a support.
LONG TERM, BY 2019, I BELIEVE BTC WILL HIT OVER $30,000
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Tutorial Part 15 Automatic Stop Sell/Buy Executions
Twitter - https://twitter.com/PhilakoneCrypto
Youtube - https://www.youtube.com/user/philakone1
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Luna's personal bitfinex account:
BTC address: 1PruhmsYXU2gPkNw574xZSMyBG4YW5Wnq9
Ethereum: 0x2538b728f9682fc1dc2e7db8129730f661753850
LTC: LPeaZpGiF3XdCw5XPN7LXztDagTEZAMgYd
Bitcoin Cash: 1AY2FPANCe5URB71Nvy6tkCgoTS8iHgmZD
The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.
DISCLAIMER:
Legal stuff here. I'm not financial advisor. This is just my opinion that I'm sharing with the community. All information is for yours to process how you wish.
Really interesting video which I can highly recommend. I look at really a lot TA but I found it very outstanding how you derived the support zones in combination with looking at the volumes which makes totally sense to me. I am glad to have you onboard.
Thank you also for mentioning my summary pages - that is highly appreciated.
Thank you for the kind words. Shortly after this was posted, we unfortunately did downtrend to $9500 ranges. I think this short term 9200-9500 range will hold. I hope you're having a cautious night trading.
The technicals are mostly negative in a periode where more bullish news is coming out than ever! I don't have any fiat, but if I had I should accumulate over the months to come. If we break down I expect 7500 to hold (200 DMA) and after some consolidation a huge bull run to start.
Agreed :) This is a wonderful time to get interested.
Awesome post!!
why you don't have Jennifer Lawrence on your profile pic on youtube as well?
Thanks for the kind words. I figured I should have a real picture of myself as well :)
Awesome analysis and teaching! Thanks!
Hi thank you for sharing your thoughts and opinions appreciate your teaching. I hope you ve got life apart crypto or is crypto your life ;) ?? Hope you get some sleep and rest ;)
Best hobby in the world! :) Crypto is my life.
I wonder how your relatives cope with your passion? My hubby also is a fanatic of crypto so I am sure he would shake your hand :) following you now to understand your life journey.. ;)
I have no family other than folks :) Extremely small family. Though I'm extremely happy in general and wouldn't stop this for anything.
Small family ... but lots followers.... wishing you lots of success and enjoyment...steemit brother ;)
<3
<3
Dumping update
I couldn't stop laughing for a good couple of minutes at your 'drawing tools' issue you were having until you figured it out. 'Oh my goodness ... I just figured it out!' - that line sent me to the floor in laughter. lol.
Anyways - love your content and your detailed analysis. Keep it going.
I have a question - are you not able to add all 4 Moving Averages on trading view because of the 'indicator limit'?
I have it on bitfinex and prefer to keep clean charts on tradingview. Just a preference. Yes I was blown away when I figured it out. :) :)
Hello Phil, missed you while you were out on holiday, ( my condolences regarding your Grandmother), made money on your long term Ethereum call and very happy to see you back and posting more!
Cool analysis as always phil! Upvoted!
Thank you Vchai. I hope it has helped you immensely.