4xForecaster
Long

Bullish Reversal Confirmed; New Target | $BTC #bitcoin #litecoin

BITSTAMP:BTCUSD   Bitcoin / Dollar
650 9 6
Friends,

Today saw a resurgence of bullish strength, and a cautionary note was added to the chart by defining technical conditions under which a reversal would be confirmed. These conditions have been met, and the chart has now taken a bullish stance.

As we abandon the now-lower probability of a decline and reset our mindset into skywards expectations, here are two moderate-probability targets and one low-probability target, namely:

1 - TG-1 = 775.09 - 11 MAR 14: Moderate probability target

2 = TG-2 = 797.49 - 11 MAR 14: Moderate probability target

and

3 - TG-Hi = 840.11 - 11 MAR 14: Low-probability target


While this restive market can turn at an moment, the predictive analysis and forecasting offered over time have remained respectfully close to the end-price action. However, at levels where price reverses following a significant impulsive move, one has to remain cautious and patient, as both erratic move or protracted consolidation can ensue.

Cheers,


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


PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. 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.


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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: admin@KADAInstitute.com
All updates on https://twitter.com/4xForecaster
Cautionary Note:

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.

Cheers!

David Alcindor, MOD
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NEWS:

"NY's finance regulator is taking applications for BitLicense, the first government oversight of #bitcoin: http://on.wsj.com/1fpzyJd"

IMPACT = Probably BULLISH as wider (conditional) acceptance is taking hold.

- David Alcindor
Reply
ambrosia PRO
2 years ago
The overhead resistance you are talking about is 633? or 640?
Reply
TheChasm ambrosia
2 years ago
I think he means 718, correct?
Reply
4xForecaster PRO TheChasm
2 years ago
@TheChasm - Absolutely:

718 / 686 range might act as a reinforce concrete ceiling. Lots of drilling at that level. It will be interesting to see if there are lots of small volume (retail side), or large spikes (institutional participation).

Waiting ... tic ... toc ... tic ... toc

David
Reply
flibbr PRO TheChasm
2 years ago
Funny TG1 is 775 and yesterday on the chat we said 745-765 was 'the level' also
Reply
Jameve
2 years ago
I noticed you drew a line at 633 where it "dropped" on March 4th. I say dropped in quotes because it seemed to be an API error. The volume during that time was pretty low so the drop couldn't have been real. There was several thousand coins to go that far down at the time but the 30 min candle (supposedly happened in a 30 min span or less) showed just a few hundred coins or so. I asked in TV chat afterward if others thought it was an error or a real drop and people thought it was an error. I assume you are using that as a support becoming resistance level? If so, it is a bit off due to the error.
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Jameve Jameve
2 years ago
checked again, it was just ~130 coins 30 min volume
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NOTE: More signals, more analyses. More forecasts coming ...

Feel free to share my Twitter alias:

@4xForecaster


Thank you for your kind Twitter support and friendly referral through colleagues and friends.

Cheers!

David Alcindor
Predictive Analysis &Forecasting

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- All signals, analyses and forecasts are for educational purposes. Do your own due diligence. Use TradingChart.com to share your analyses with me or friendly traders on the site.
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