Target hit Dead-On; Expecting Reversal | $BTC #bitcoin #forex

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

Following a protracted consolidation, price finally came down to hit the forecast target on the nose. Target-low was defined on July 26th as "Tg-Lo = 568.22 - 26 JUL 2014".

In the recent analyses, I reminded the traders that all numerical targets (i.e.: TG-1, TG-2, ... etc) tend to act as step-wise points along a reactionary pathway, typically during an interim reversal. However, non-numerical targets such as the predefined TG-Hi and TG-Lo appear as the lowest probability target (i.e.: it would take price a considerable and less likely amount of "force" to reach these levels), but IF and once reached, they would tend to act as reversal levels.

Hence, expect the current level reached, exactly at TG-Lo = 568.22 (electronic data = 568.00), to act as a probable level of reversal.

I will unplug for a little while until a resolute trend emerges out of this situation - For this reason, I will keep the directional indicator as "Neutral".

Appreciate your kind following and friendly referral among other traders.


David Alcindor
Predictive Analysis & Forecasting

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David Alcindor
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07 AUG 2014 - Update:

From Twitter:
$BTCUSD: IF 607.20 breaks, THEN roof opens to 626.21 and 645.22

via @tradingview | $BTC $USD #bitcoin


Potential price action is highlighted by ever fading greyed arrows. Closest has good probability and better than higher up.

I have NOT provided these targets any probability profile (neither numerical as in TG-1 and TG-2, nor qualitative as in TG-Hi) as the model has not confirmed the directional bias to the upside at this point.

More on this as we move along on up.

David Alcindor
There seems to be some movement right now along with a rising volume.

Here's some key price level with a sell wall of above 400 BTC on Bitstamp:
+1 Reply
LastBattle LastBattle
http://imageshack.com/a/img746/6141/VCz2uI.png - BitBot on Windows 8.1
+1 Reply
3 months of downtrend broken (via RSI !) Good time to go very very very long.

I'm buying an additional 20 BTC now :)
+1 Reply
4xForecaster LastBattle
@LastBattle - RMI is breaking to the upside, Stoch and Stock-RSI are posting a positive divergence (i.e. a lower low in RSI as well as a double-bottom in Stock-RSI) - All of this hiints at a bullish expectation.

However, there needs to be more of a signal than a hint. Be careful with this bear.

I would wait for a price residing above the Ichimoku (currently lacks directional commitment being in the greyed zone), as well as a SAR inversion to support (currently remains under bearish pressure with SAR above price), and RSI remains under the 50-line at 46. All of these would be absorbed by algos as predominant bearish compilation of data.

+3 Reply
02 AUG 2014 - Update

Watch for that 851.55 level

= Donchian mean line
= 50% retracement

David Alcindor
LastBattle 4xForecaster
What do you mean by the 851.55 level?

If there's a 50% retracement:
+1 Reply
4xForecaster LastBattle
@LastBattle - Not sure why your data shows anything different from mine, but the 50% level resides at 581.55 on my data:

+1 Reply
4xForecaster 4xForecaster
@LastBattle - Just noted that yourdata is BTCe - That's why.

LastBattle 4xForecaster
Spot on :) Its indeed close to 50% retracement...
I got back in right on the StochRSI reversal. http://imageshack.com/a/img742/144/q6Q18j.jpg
+1 Reply
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