Here is our forecasting report on BTCUSD (BitCoins) for 2 February 2018. Based on our forecasting techniques, it would appear that USD3,500 is possible for Bitcoin. Will it happen? Let's monitor this very closely.
Good trading NinjaSingapore 2 Feb 2018
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Trade active
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BTCUSD hit the low of 7625 on 2 Feb (which is $225 above our forecast S1 level) and since then it's been rebounded and currently is trading at $8,300. It seems so near and so far away but this is what forecasting is about.
We will continue monitoring the price movement of BTCUSD and provide a further update.
Trade active
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BTCUSD hit our S1 on 5 Feb. We are watching it closely to see if it will test our S2 and provide our update again.
Trade active
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As of 5 Feb, we are just $200 above our forecasted S2. The near-term downward bias continues. We will continue tracking this counter and provide a further update on this.
Trade active
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I just got an alert that S2 has been achieved. Will BTCUSD really go to S3? Let's see.
@Omega77, at NInjaSingapore, it is based on our forecasting techniques, which are formulated based on the open, high, low, close of the bars.
Omega77
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Would be interesting and educational for the people that follow you to know how you came to your conclusions. This is after all a platform which we all use to gain and share knowledge?
NinjaSingapore
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@Omega77, agreed. The forecasting techniques are based on open, high, low, close of the bars. This is how we at NinjaSingapore came to the conclusion. It's all based on price movement.
sebastian.soik
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@Omega77, it happens if you take some common rules of elliott waves and combine it with market conditions that are several years old. This strategy ignores volume structure completely what makes the results very unlikely.
It would work in a market that has the same volume and the same amount of that what we call "mass adoption" (for example gold, oil, etc)
NinjaSingapore
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@Sebastian.soik, thanks for commenting and have a nice day.