Counting the bars, it seems that the new highs will accelerate and things will happen on the 4th, The chart seems to be moving upwards right now just because there might be interest in having the auctioned coins being sold at a higher price. Given these circumstances, its more likely that the price will go up rather than go down, not to mention the fact that we...
A long against the trend is a riskfull play. Always have a tight stoploss. Personally I don't recommend a long.. But if you like to life on the edge! It might be a better option to buy on the breakout
Chart is self explanatory. Opened position at 388.20, SL at 378.00 and profit target at 449.00. Risk ratio is 5.96. (I had previously looked at 500 being the upper target but have revised that over the past few days.) The horizontal rays are showing my S/R levels. I believe we should see leg A run up to the 419 area before correcting back down to 400 support...
I had closed my long position with a nice win. I'm now thinking this should top out at the Daily 200EMA (currently around 467). I've just opened a new position at 418 with 406 as my stop and 466 as my profit target.
A month ago I published an idea called Bitcoin Bubble Retracement: The Most Probable Scenario. Have a look at related ideas. Everything has already become true, but a bit sooner than I expected. Another two succesful ideas were called Update #1 on Bitcoin's Reversal: BITCOIN BULL FLAG and Bats + Bad News + RSI + Support => Reversal? What can I say about this one...
Friends, SYNTHETIC EXPRESSION: I decided to focus strictly on the price action of all 3 bitcoin exchanges, namely: 1 - BTCe 2 - Bitfinex 3 - Bitstamp I have averaged all three exchanges on an equal-weight basis, such that the current price reflects a synthetic expression of the following: (BTCe + Bitfinex + Bitstamp) / 3 Overall, the synthetic product is...
While I don't know a lot about the Wolfe Waves pattern, I am wondering if it could be possible that we have one developing on the daily time frame. It may be too early to tell and I'm just jumping the gun a little. I don't think it will become apparent unless we get a point 4 to print on the chart. This will then let us determine the 2-4 line and therefore the...
It appears as if we are in the b wave of the elliot wave correction sequence. Possible (short term) short opportunity if we break below 373; however, keeping a close eye on the 373-385 channel. Thoughts? Ideas?
Friends, As indicated yesterday (see here: ), I added a new feature in the predictive analysis and forecasting, which provides a "line in the sand" where bulls and bears are likely to take over, if and once price surpasses it. The condition here is one that I would define as a "BACA" (A term soe other trader came up with in a Facebook Forex discussion group,...
Friends, Predictive/Forecasting model remains bearish. Market for Bitcoin/Bitfinex has been weighed down, although some might perceive this as being a mere correction, bound into a sideways pattern - While this remains true as a matter of observation, intrinsic directional biases have favored bears for the time being - In fact, it has pushed price towards a...
I hope the chart speak by himself with these double bottoms, divergences and MA. OTE at 492.2 conclusion 17hours later: NICE
Well, as I thought, there is no bubble this summer. No reason to be mad about it, cause good God gave to us the blessing of short positions. It is wise here to observe that point - China trying to wall hard 3200 levels to hold us from falling more down. IF they succeed, we would see nice DB in 15 min chart with btttom on 3205 and 3206 (Huobi), and nice hiodden...
After 440$ launch, many people were expecting new bubble, we saw breaking downtrend etc. But 660$ level appeared to be extremely strong resistance and it stopped us successful. What we see after that is full bubble denial. For now, we leaved channel started on 360$ and are heading towards 525-540$ level. It could be a potential bounce, if not, we brake uptrend...
We saw several attempts tu push us below 607 level, what would end with testing 603 or even 593 support. Yesterday we bounced - I'am not sure if Dell news are important, but we started after them - and leaved downtrend started 1.07. Now we are struggling upward, 625 resistance becomes an support, we will see if it is a weak one or good enough to help us climb...
Previously proposed rising wedge appear to be failing judging from the price action. Hence the expected move above 680 to 700 -720 zone is now looking very unlikely. Having struggled to make any successful bounce of 620 zone. Both the MACD and Stochastic are suggesting bearish move. If this is the case then we could have several weeks of down trend towards...
This is possibly the 5th wave taking formation, if it is, expect a strong movement up over the coming week or so.
Hey guys, it's actually the first time I'm doing this since I've only been trading for like a month now. Was learning a bit about the gartley, first time getting into recognizing patterns, and this particular pattern just got my attention, and noticed how btc's behaviour tends to fit well with it. Drew this out of curiousity, I don't mind getting some feed...
Notice the red rectangle or cloud on top of each resistance and notice how they all end up with a big dump of $90 or $60-50. Their is a strong possibility that we will see the same scenario in our current situation unless of course a whale decides to push us up. But I am still sticking with my plan for now with buys at 545-550 and another somewhere at...