4xForecaster
Long

Target Hit Dead-On; Bulls In Charge | $BTC #bitcoin #litecoin

BITSTAMP:BTCUSD   Bitcoin / Dollar
1661 14 17
Friends,

Forecast is bearing fruit at all levels, as we are finally arriving at the pan-ultimate resistance level . 630-78 was the lowest value of a significant overhead resistance defined a month ago (see: "Houston, Do You Copy? - https://www.tradingview.com/v/2z40pI45/).

At this point, I would expect a significant consolidation interim, although looking back at the recent blazing trail, price has stampeded its way up this hill             without much respite, when we called for some shallow retracement. But the bulls grunted and grumbled their way up these greener pastures without looking back at incredulous bears it gored on the way.

I would have to reassess the entire picture and churn through a few data to refine any new forecast. I thank you for your kind referral and friendly, supportive comments from the way up to down, and then up to here.

Note that the arrows are left to suggest a probable price action pathway. This is not a predictive result, but a suggestion that retesting of a then-resistance-now-support level is probable before a continued rally to higher levels. The real obstacle is defined by both 630.78/667.80 range. Any price action above this will warrant new analysis.

Cheers,

David Alcindor
Predictive Analysis & Forecasting
TradingView Moderator
David Alcindor, CMT Affiliate #227974
Alias: 4xForecaster (Twitter, LinkedIn, StockTwits)

Signal Service or Private Course - Contact: MarketPredictiveAnalysis@gmail.com
All updates on https://twitter.com/4xForecaster
epic dump happening now... lmao, luckily I had 8k LTC manipulating both sell and buy wall.
Gained 5% on LTC instead, along with the cumulative gain on BTC
+1 Reply
01 JUN 2014 - Chart/Target Update:

First, happy June!

Second, from Twitter:

"$BTCUSD update: Watch for significant reversal potential @ 676.67 -
snapshot
via @tradingview | $BTC $USD #bitcoin #litecoin"

snapshot


At this upcoming level, I expect a significant Fib-paced reversal, still using the prior resistance levels as expected supports. I'm on the road right now, so the analysis will be limited, but I thought this significant overhead resistance had to be posted pronto.

Have a great Sunday.

Cheers,

David Alcindor
+1 Reply
LastBattle 4xForecaster
I'm curious.. Given your knowledge, why don't you trade Bitcoin?
A bull market like this is pretty irresistible
+1 Reply
@LastBattle - Thank you, LastBattle. I use it in Forex, and some in indices and options - David
Reply
flibbr PRO 4xForecaster
Keep pushing those targets higher David.
+1 Reply
LOL. Yes, with your help it might get higher. Alas, I have no bitcoin account. Just ideas - David
+1 Reply
I can't believe it topped dead center in the middle of your price range, you are like a prophet. I am having a little difficulty determining the likely direction when looking at your charts. Is the blue line the more likely scenario and the grey the less likely?

Please keep up sharing your knowledge, you are the only one I've seen who has targets that are almost always accurate.
+2 Reply
Thank you @devlspawn - The target for this aggressive move might fall slightly above the range, something in the order of 676.67 - I will post a new chart next. Thank you for your kind comments - David.
Reply
31 MAY 2014 - Update ... Potential Decline with Probable Targets:

From Twitter:

"$BTCUSD Finer granular analysis sees potential #elliottwave truncation of Wave-5, spelling decline -
snapshot
@tradingview "

snapshot


Essentially, not being a buff in EW analysis, I would only venture to say that the culmination in Wave-3 has resulted in a lack of higher attainment, which was expected from Wave-5, thus defining Wave-5's truncation.

If this is the case, then I would expect a decline in the crypto to levels defined as:

1 - TG-1 =599.68 -31 MAY 14

and

2 - TG-2 = 588.32 - 31 MAY 14


These targets are worth laying over original chart, although in the original 4-hour chart, the support is seen at a probable 541.00 value, a much deeper plateau than what is just defined here.

Cheers,


David Alcindor
Reply
AKWAnalytics PRO 4xForecaster
645 $
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out