- - - - and now probably forming
After each new low, it had a swing up, then 61,8% retrace, then another logarithmically equal swing up ( ) testing the major downtrend line from ATH . All this was part of .
Based on this logic, we are now at the 61.8% retrace of the swing from new low which could create another swing with target to around $360 forming a this time. That would be the new top testing the . Here you have the best long term shorts entry and would be wise to close all longs available. It will start new major trend down, possible target around 125$, could go directly, or move forming another . Also, the has some interesting levels and cycles.
Decided to publish a pretty courageous scenario in this very environment at the moment, which fits well in the whole picture of the last 1 year and a half. I would avoid going long over 220$ in this region, I tried to long whenever the price was under 220, with stop los under 210, because in my oppinion breaking down the 210 level makes this scenario invalid.
Compare with the LTC/BTC chart. However, this chart is not as detailed with time frame and prices. This is only to show the potential pattern repeat in both LTC/BTC and BTC/USD: http://i.imgur.com/RvHtD6Q.png
Got to get a little bit of shut eye.
PS - Just became a Pro Plus member. Sorry for the links to the wisdom charts instead of trading view charts at the moment. I will use trading view before long to post on here.
I'm going to be learning all I can about using trading view. I will be going Pro Plus within my 30 day trial and I'm sure Pro Premium not long after I get more familiar with all the many tools to use. WOW!!! I can't say "wow" enough. hehe
I believe you're right on the sideways this weekend. Yes, next week should be fun. Thumbs up...
I was up till 4:30am this morning. I'm on Central Standard Time. I'm going to change what time I go to bed and go to sleep at normal times like most folk while I learn how to use this platform they have created on trading view. Then, I plan to get MTPredictor afterwards.
Have a great weekend, Sir!
Anyhow, thank you for taking the time to do the work you have done and posting the charts you have posted. It's time to educate myself.
Looks like a repeat of what occurred on Jan. 15, 2015 when it dropped to $193 before continuing upwards to 300 by Jan. 26, 2015.
I finished another chart http://i.imgur.com/DOFNIth.jpg. I'm going to start working on charts here this evening.
Looking bullish, above trendline, breaking this region promises to get us to next high resistance area at 300-305, that could bring another consolidation there inside 280-300 range: