BTC_Daily.Pips
Long

The 1 Year Story of BTC and what is it telling us now

BITSTAMP:BTCUSD   Bitcoin / Dollar
Since the last Bubble, BTC has moved through one major Harmonic pattern to another:
Bullish Gartley - Bearish Bat - Bullish Crab - Bearish Gartley - and now probably Bearish Butterfly forming

After each new low, it had a swing up, then 61,8% retrace, then another logarithmically equal swing up ( AB=CD ) testing the major downtrend line from ATH             . All this was part of harmonic patterns .

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 $360 forming a bearish butterfly this time. That would be the new top testing the trendline. Here you have the best long term shorts entry and would be wise to close all longs available. It will start new major trend down, possible target around 125$, could go directly, or move forming another Bullish crab . Also, the RSI has some interesting levels and cycles.

Decided to publish a pretty courageous bullish scenario in this very bearish 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.

Best,
Sergiu
ChartArt
2 years ago
Maybe you are spot on with your idea here. If this resolves bullish it is going to be VERY bullish. I linked your chart in my new bullish outlook after even more research in all-time frames:

Moon if the bulls win in February 2015


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BTC_Daily.Pips ChartArt
2 years ago
hey, thanks! flattered :D
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BTC_Daily.Pips ChartArt
2 years ago
yours looks alot with this one made 3 weeks ago, will link yours as well to mine ;)
Important Swings to watch
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ProwdClown PRO ChartArt
2 years ago
My opinion of what is to come this weekend and the next weekend: http://i.imgur.com/nWFiAOz.jpg

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
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BTC_Daily.Pips ProwdClown
2 years ago
yep, agreed, 280 will be the next tough resistance after 260 ;)
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Like you said, it will be an interesting weekend this weekend and all next week.

Got to get a little bit of shut eye.

Happy trading.

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.
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BTC_Daily.Pips
2 years ago
RSI getting ready for the next day or 2
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Lebowski
2 years ago
Great chart, man.
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BTC_Daily.Pips Lebowski
2 years ago
thx! ;)
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BTC_Daily.Pips
2 years ago
248-251 promises to be next solid resistance, probably sideways a day or two after that inside 238-250 range, before next big move up:
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Yes, I can see BTC going up to $250 to $260'ish today while LTC/BTC goes down. Traders in LTC/BTC will dump their LTC for BTC to catch the ride up to dump at the high for BTC around $250 or $260ish. When they dump their BTC for USD, LTC/USD will dump at the same time Some traders, who sold at the high before the dump will buy back into BTC at the low end of again either in BTC or LTC... Possibly both...
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BTC_Daily.Pips ProwdClown
2 years ago
yeah, probably touching almost 250 in a few hours, however, I would avoid altcoins during this rally. I remember being long in LTC in may, right one day before the rally, and was a total flop... performed poorly compared to BTC...
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ProwdClown PRO BTC_Daily.Pips
2 years ago
I can see your view on alts. The only one I mess with is LTC. I mine BTC and use approximately 20% to 25% of the BTC I mine to buy LTC when there is blood in the streets. By the way, this is DavidWardJr from BTC-e. Paulgr and I both feel LTC/BTC will go down to at least .0075 if not .0065. I showed you my chart on that before. This is an updated chart of that grand line. However, the climb back up, after the low of .0065, may not occur until several days after what I have drawn out in the chart. This is a 1-Day chart of LTC/BTC: http://i.imgur.com/qMWj9Gn.png
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ProwdClown PRO ProwdClown
2 years ago
Sorry, wrong link. This is the link: http://i.imgur.com/qMWj9Gn.png
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Sorry, wrong link. This is the link: http://i.imgur.com/qMWj9Gn.png
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BTC_Daily.Pips ProwdClown
2 years ago
Glad to hear from you David and thank you for the chart and intriguing insight! Totally agree with your strategy on purchasing ltc, buy the fear and panic ;)
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ProwdClown PRO BTC_Daily.Pips
2 years ago
I'm definitely beginning to see $300 to $320 like you are implying in your chart. Traders are continually dumping their LTC in LTC/BTC. Those are the one's whom I feel want to dump BTC for fiat once it reaches what the feel is the top of this pump. I want to leave BTC/USD "high." I'm not selling my BTC there. I'm going to use my BTC to buy LTC on LTC/BTC when there is blood in the streets. Why? Do you see how LTC/USD is trending up along with BTC/USD? Once can buy LTC with BTC in the LTC/BTC trading window when it is .0065. Then turn around and sell it in the LTC/USD trading window if they want to gain a lot more USD to buy back into BTC or LTC when they fall again. Where they fall to after the pump remains to be seen.
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BTC_Daily.Pips ProwdClown
2 years ago
Yes, sounds right. I see some panic and emotions once we reach 320, that will creat a volatile price range above it, we will see a lot of theories and ideas how we are in reversal, beginning a new bubble etc. lol But that is already time to short those illusions and get back to a new cycle to new lows. I think you have very clear and rational ideas in all LTC, BTC and USD pairs, surely would do the same, however sticking to my swing trading BTC atm during this downtrend avoiding adding risks. Once, I see really reversal possibility (which is based on BTC and doubt will happen this year), will start watching other markets too. Thx for the insights and enjoy the weekend btw! :D Doubt anything big will happen today or tomorrow, just sideways in the 240s :D Next week should be fun hehe
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Wow!!! SergiuFala, I had "no idea" something like trading view.com was available!!! THANK YOU VERY MUCH for the link to this from your BTC-e post!!! I also like the sound of "MTPredictor." WOW!!! I've watched the first video with the Webinars. I absolutely love what these guys at trading view have created! Truly remarkable!

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!

David
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BTC_Daily.Pips ProwdClown
2 years ago
Thank you very much! Maybe I have misunderstood something, but I haven't posted anything on btc-e, probably confounded me with someone or I misunderstood part of your message. Best Regards! ;)
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ProwdClown PRO BTC_Daily.Pips
2 years ago
It must be that someone else gave me this link to your chart. I'm thankful they gave me this link and I'm thankful you created the chart for them to post on BTC-e. They found your chart some how and posted it in the "troll box" on BTC-e. I see this as an omen! : )

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.

Cheers mate!
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BTC_Daily.Pips ProwdClown
2 years ago
Thank you very much for these nice words, very flattering! :D good luck and see you around ;) cheers!
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BTC_Daily.Pips
2 years ago
Placing longs or adding more to the opened below one in the range 240-243 during present sideways is advisable for a break up to next level:
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https://www.tradingview.com/x/hQayYVLX/
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BTC_Daily.Pips BTC_Daily.Pips
2 years ago
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Agreed... Thanks!
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BTC_Daily.Pips
2 years ago
Would be wise to avoid panic buying here, this has good chances to be a local top and see some nice retrace, going to add longs at selloffs there, low 240s would be perfect
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BTC_Daily.Pips
2 years ago
target hit, closed shorts protecting longs since around resistance, consolidtaing more longs in this range
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Well, we obviously had a lot of "panic" selling at the "long" consolidation mark. It actually went down to 220 on BTC-e, 227 on Stamp and 228 on Coinbase. I'm sure that may have changed your chart a little bit. I still honestly believe we will get to $300 or close to it by Friday or Saturday. I just don't know if we will have a sideways run today before continuing upward. Not that it matters.

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.
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BTC_Daily.Pips ProwdClown
2 years ago
Yes, maybe, I am more neutral now, you can see my previous chart, a road map for swings. Between 265 and 220 I am neutral between a bullrun to 300s or bear trend to new lows. The thing that spoiled this swing up, was yesterday's surge which did not wait for a solid consolidation before breaking 250 price, this surge created good conditions for big selloffs without having any ground when it avoided longer consolidation, which when breaking 240, created lots of panic sells. Still keeping longs, as long as I am neutral, with stop loss at break even when I opened inside the triangle we broke, really hard to believe we ended this cycle so early, the daily candle though creates some doubts. We will see, I am actually indifferent either way it goes, but up is prefferable, I want a decent swing before create a new downtrend. Best regards! ;)
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ProwdClown PRO BTC_Daily.Pips
2 years ago
I would tend to agree with the "panic" selloffs without having ground to avoid longer consolidation. Yes, I'm still keeping longs as well. I bought in at 220 and never bothered with more buys at the recent dip. I still believe this may be a repeat of the Jan. 15 to Jan. 18 cycle; which see: http://i.imgur.com/ft7J4co.jpg. We can still see the upward bull run to $300 begin on Tuesday or Wednesday. It will just take some time to play out.
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BTC_Daily.Pips ProwdClown
2 years ago
Thanks for the chart! Still, the disadvantage of this selloff that it also happened to quickly, curious what will happen nnext hours. My swing strategy you can check out here
Important Swings to watch
, should it break down this channel level, will start shorting when it retraces under it, and adding the same to next etc., that is how I have been using it for the last half year, plays out beautifully ;).
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ProwdClown PRO BTC_Daily.Pips
2 years ago
I will check it out... Thanks!
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ProwdClown PRO BTC_Daily.Pips
2 years ago
I'm working on my charts on trading view. This chart would have to do for now. Another one coming shortly... http://i.imgur.com/x1Ftteg.jpg
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ProwdClown PRO BTC_Daily.Pips
2 years ago
This is the Jan. 15 low that was repeated on Jan. 17 before heading upward to the $300 high: http://i.imgur.com/ft7J4co.jpg
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ichicloud
2 years ago
Right on the money
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BTC_Daily.Pips
2 years ago
Just an idea, bad daily candle about to close, watching 4h now:
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ProwdClown PRO BTC_Daily.Pips
2 years ago
My sentiments exactly at the moment http://i.imgur.com/ft7J4co.jpg
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BTC_Daily.Pips ProwdClown
2 years ago
I remember that low very well, my stop loss was at 192 on btc-e :D Although I see it as in different psychological conditions, right after a new low, I surely hope you are right! Nice lines you have there, you should definitely start publishing here ;) Cheers!
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Yes, I can see your concern for different psychological condition, which has me believing the high on Friday/Saturday could go to only $280'ish. I drew a top and bottom line that meet in a point to show the "wedge" we are falling into. What happens after that wedge remains to be seen. That wedge is what has me seeing the high only being 280'ish.

I finished another chart http://i.imgur.com/DOFNIth.jpg. I'm going to start working on charts here this evening.
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ProwdClown PRO BTC_Daily.Pips
2 years ago
Overall downtrend still at the moment. We are waiting on good news while bulls and bears continue to protect. That wedge (bottle neck) we are running into comes to a head (a point) around June 12th. We are driving head strong into it while waiting on good news. Hard to say what will happen once we reach that point in time. http://i.imgur.com/ka7poit.jpg
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I think we may have finally found our bottom and will begin our tread upwards. However, our bottom will not be confirmed until we make it through the Feb. 26 to Mar. 18 box. We need to be above 220 Mar. 19th for the uptrend and bottom to be confirmed. I show it in this chart: http://i.imgur.com/NiqNjIR.jpg
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BTC_Daily.Pips ProwdClown
2 years ago
Thx for the link, just looked through it! Highlights interesting zones there ;) I think for a bullish scenario, going under 230 should be avoided, I personally change to bear getting there and will look for entries on retrace for shorts. I am looking forward to about 3 more days of sideways in the 235-245 range before a break up for about a week or 10 days max of bullrun culminating with the test of the downtrend line from ATH at about 350-360.
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Would really hate seeing it getting under 230, or more exact under previous shortterm 228 low...
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BTC_Daily.Pips
2 years ago
expecting a breakout long candle up today or tomorrow, seems ready to take off:
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BTC_Daily.Pips BTC_Daily.Pips
2 years ago
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BTC_Daily.Pips
2 years ago
Update: Great region to consolidate, the previous consolidation beneath offers a nice floor to hold at up in this region:
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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:
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BTC_Daily.Pips
2 years ago
Got at the hedge target, unfortunately for a short period and did not manage to fill all placed orders, looking forward for consolidation in the 285-305 zone, as long as we trade above 280, we are in a bulish region
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BTC_Daily.Pips
2 years ago
Added short-term shorts, with tight stoploss, to protect the margin from longs here; still expecting a fall to the upper 280s as part of consolidation that will need some time before another leg up to bring us in the 300s
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BTC_Daily.Pips
2 years ago
Dangerous to long now, waiting for confirmation of breakthrough
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BTC_Daily.Pips
2 years ago
target hit, ready to close short term shorts and add longs here
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BTC_Daily.Pips
2 years ago
4h closed right at target
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BTC_Daily.Pips BTC_Daily.Pips
2 years ago
trendline got broken, have all longs still opened and watching this setup:
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BTC_Daily.Pips BTC_Daily.Pips
2 years ago
Price now trying to get back above the EMA, which is now resistance at $287 while RSI broke back above previous support and fightinh the downtrend, MACD crossed back bullish:
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BTC_Daily.Pips BTC_Daily.Pips
2 years ago
Another interesting buy opportunity here inside this consolidating triangle zone on 4h (left chart)
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