Testing Overhead Resistance | #BTC $USD #Bitcoin #Litecoin $Gold

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
550 10 6

A quick tech-note here to alert that a potential reversal might occur on two technical bases:

1 - Our predictive analysis is printing an early bullish market reversal sign, pending signal confirmation


2 - Price action has moved opposite to forecast direction and is now testing overhead resistance of momental channel.


For reasons defined above, we are preemptively changing the "Short" sticker to a "Neutral" to reflect our subjective bias. However, our predictive analysis system remains bearish .

I recommend that the bearish trader be concerned at the point where price posts a BACA (i.e.: "Break Above, Closes Above") that physical overhead resistance defined in the chart. Until then, it remains a routine testing event.


David Alcindor
Predictive Analysis & Market Forecasting
- TradingView.com Moderator, Alias: 4xForecaster

PS: If you liked the analysis, feel free to give it a "Thumb Up" and share with friends and colleagues interested in the market. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark ), or other well known patterns. However, we concentrate mainly on Shark , 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.

Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster

Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster

Just posted a new analysis.

I would NOT trade this until a candle closes above the overhead resistance.

Right now, the analysis has turned bullish, but it is up to the trader to define his rule of engagement. Added confirmation won't hurt.

David Alcindor, MOD
When you say "Closes Above", do you mean a higher low, generally? Or do you look for a certain number of candle closes?

As I understand it, three bars moving in the same direction of the trend in the timeframe in which you're trading is confirmation of the trend.
grahvity grahvity
And by bars I also mean candles.
@grahvity - Just posted a new analysis. I would not trade this until a candle closes above the overhead resistance. Right now, the analysis has turned bullish, but it is up to the trader to define his rule of engagement. Added confirmation won't hurt - David
grahvity 4xForecaster
I saw it already! I'm cautiously giddy. By the way, I mentioned you among others in the daily discussion in http://reddit.com/r/BitcoinMarkets as people to consider following.

The one for today just started minutes ago http://www.reddit.com/r/BitcoinMarkets/comments/207aij/daily_discussion_wednesday_march_12_2014

@grahvity - Thank you for your kind referral. There is no gimmick here, no linking to any offsite BS, no commercial end, and no luring traders into some other scam - Pure trading, technical analysis and market studying fun.

So glad you like the analyses and very much appreciate your friendly referral - Make sure to hook up thru Twitter (same alias: @4xForecaster) for immediate signals on this and other assets.


David Alcindor, MOD
grahvity 4xForecaster
You say that is if I haven't followed you on Twitter already… lol
Thank you Grahvity!!!
Thanks. I suspect it will be hard to break 650$, but if it does. Next stop 699$ :)
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