4xForecaster
Short

Bearcoins Are Back . Again | $BTC $USD #bitcoin #litecoin #Gold

BITSTAMP:BTCUSD   Bitcoin / Dollar
2065 11 8
Friends,

A quick note here to state the obvious:

The recent target at "TG-1 = 554.65 - 04 MAR" was also defined as support, as the prior analysis had projected bullish targets favored by my predictive analysis and forecasting.

However, the markets are back at it, with fundamental supply of bear-waking news pressing the crupto-currency back into its abysmal cave.

Identifiable support remains strong at the current price (518.00), whereas a rescue support is also identified at 474.10.

A break above 581.62 should concern all bears.


OVERALL:

Bearish pressure is back at it. Support at 474.10 is strong, and comes as moderate-probability thta price will reach down to that level, before carving a new consolidation in price action.

More on this crypto as technical event or significant price action occurs. The blue dotted arrow defines upper and lower resistance and support areas in the price action which might occur as time unfolds: It does NOT attempt to define a price pathway.

Cheers,


David Alcindor
Predictive Analysis and Forecasting


If interested to receive my TradingView forecast instantly through Twitter:
Simply follow me: @4xForecaster.
Here is a recent forecast:
X (US Steel) - New Target @ 30.422 | #Steel #NYSE


-------------------------------------
Disclaimer:
- Remember to remain dubious about every and any thing I say. All comments are subjective perceptions based on unshared, proprietary and common knowledge of fundamental analysis , classic technical analysis , basic and advanced pattern trading, as well as personal research in occult market geometries, predictive analysis and quant-based forecasting, some or none of which is being shared in my trading profiles, so do your due diligence and review the disclaimer below.
- 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)

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johnrfraser
2 years ago
Hi. Thank you for this insight. I'm interested to hear your 474.10 support forecast though...I had 476 as a buy off support back in February. i think I did one trade off of it but on Feb 25th didn't it plough straight though it? I figured it made sense as it has no confirmations...just the huge bull candle in November.
I'm short tonight...474 would really have me spreading my other buys (406 & 306) a little thin if I covered it.
Your thoughts would be gratefully received.
Thanks a lot,
John
Reply
4xForecaster PRO johnrfraser
2 years ago
Hello @johnfraser - The levels I share within TradingView are generated through a predictive analysis and forecasting system I own. The system defines trends, reversal as well as forecast levels where price is likely to find significant S/R, or event top/bottom reversal.

Given the 474.10 through this system, I would expect price to seek that level and give it validation by consolidation there, if and when current price action carves lower lows.

David Alcindor
Reply
johnrfraser 4xForecaster
2 years ago
Hi David. Thanks so much for your reply. By 'consolidation' do you mean we might expect a close at 474 if we break 500? With tails sub 400 perhaps?
Reply
4xForecaster PRO johnrfraser
2 years ago
@johnfraser - By consolidation, I mean that the bulk of price action x volume will be evenly distributed around a price level, say 475 or so, but indeed, candle could very well cast their shadows down to 470, something I am not capable to forecast. If I could, I would set my forecast closer to that extreme level.

Hope this helps.

David Alcindor
Reply
johnrfraser 4xForecaster
2 years ago
Thanks David. Very helpful indeed, much appreciated. Is your system one of those offered in Marketplace Add Ons in Tradingview?
Reply
johnrfraser johnrfraser
2 years ago
Bounced straight off of 475! ;-)
Reply
4xForecaster PRO johnrfraser
2 years ago
Yes: The system has been quite precise and reliable. I hope the signal helped you in your trade today. Cheers, David.
Reply
4xForecaster PRO johnrfraser
2 years ago
No: Sorry @johnfraser, but the system is not for sale - David.
Reply
ambrosia PRO
2 years ago
Nice chart! Looks like we may go lower. Is there a target below?
Reply
Bitcoin
2 years ago
Excellent analysis as per usual David! :)
Reply
4xForecaster PRO Bitcoin
2 years ago
Thank you @Treveley foryour kind feedback. Much appreciated!
- David
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