mycotoxin

Does look like a cup and saucer to 9600

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
2832 80 14
Does look like a cup and saucer to 9600
Comment: This move is also to get past the edge of this triangle

Comment: There is also a a drop to 8500 which will be taken by BTC if the wall at 9140 is not broken. To break the wall BTC needs to hit 9170 for safety.
Comment: 9538

Comment: looking more and more like a tea-cup - Will BTC allows us to drink the tea to 9530?
We will need to see confirmation at 9170 first .
Comment: Yahoooooooo!!! 9170 - broken - we may get to drink from the cup of 9530 today !!
Comment: 9500 coming up . if 9170 holds
Comment: In a " cup and saucer" formation there is a dip which drops very low to form the last part of the cup . This drop makes you think all hope is lost for BTC , but its not. In this case that drop may be around 9050. However once this is hit BTC
should ramp and make a larger candle to recover.
..... Note it does look like this is what BTC is doing - But there is also a an outstanding drop to 8500 which has not been taken yet by BTC.. so what does this mean ?
- This means if BTC breaks lower than 9010 then exit the trade as BTC may be moving to 88xx / 85xx. Buy back lower at around 8500.
Comment: This low drop may have already been taken at 9050 and BTC should then continue moving upwards
Comment: maybe not ...so lets keep an eye out for this drop
Comment: Trend change coming in
Comment: This could be a move up
Comment: should dip slightly then move to 92xx
Comment: current channel

Comment: one thing we have to be careful off is these two fellows - what do they want . What are they planning ?

Comment: they signify an extended movement which can be up or down
Comment: very shady looking ..
Comment: 9560

Comment: The current spot is a double top and in 25 mins the 30 min candle can land a reversal candle - BTC can try to exit this spot upwards in the next 25 minutes
Comment: On the plus side the 1 hour candle has flipped back to being positive
Comment: current move: Moving to either 9029 or 9429

Comment: -Sell signal triggered on the 30 minute candle. Ill wait a few more minutes as the indicator is not always correct.

Comment: Th current cup and handle looks bad - weve seen this type of failure before
here :

Comment: We also seen his type of failure here

Comment: A good cup and handle looks like this :

Comment: ill exit at 8999 to be safe. BTC has business in that area unless its dropping lower
Comment: ill exit at 8999 to be safe. BTC has NO business in that area unless its dropping lower
Comment: bear flag with 8500 drop

Comment: there she goes
Comment: 8800 is not it ...it has to stop at 8500
Comment: in 32 min the 4 hour and 1 hour will drop a problem candle at the same time wait for these two candles as the can drop BTC further

the 30 min will drop a problem candle in 3 mins
Comment: hah its going up ...This must be a bull trap - BTC is being very clever today
Comment: This upward move has to be incorrect , The minimum drop is 8800 not 8900
Comment: i must be missing something as i don't get this current upward move
Comment:
Comment: Ascending triangle with two choices 6k or 14
Comment: inside a smaller channel , which is inside a head and shoulders pattern which is inside a bigger channel

Comment: The top of the right channel is aroub 105xx which is the graph from yesterday showing 10500 . The distance from the double bottom is 2x , which puts it at 10500.
So where does the 7500 fit in

Comment: Thats 8800, 8500, 7800 6k and 4K in movements BTC currently has outstanding ,.
Comment: We did 8800 today so that's off the list, leaving 8500, 7800 6k and 4K
Comment: I still think this is a bull trap ..
Comment: Bitcoin decided to come clean and be honest , great and thank you . Now where is that missing drop to 8500 ?
Comment: Based on @RodrigoGarreton's idea if we clone the first move by BTC , we can see the missing 8500 is a bit further along.

>>> What this mean Mycotoxin ?

Great question , this means that if that move is not played then we move with BTC up to about 9400 (closer to 9500 but 9400 is safer ) and then exit as BTC should then drop to 8500 . This is assuming BTC does not take the 8500 drop Now but decides to moe higher.

Comment: the missing 8500 drop is based on this calculation.

Comment: could be the current path

Comment: descending triangle

Comment: stuck in side the descending triangle and bouncing up and down
Comment: 15 min view of the descending triangle

Comment: still bouncing around the triangle up and down
Comment: BTC will let us know if its going up or down by the direction taken to break out of the two triangles above .
Exiting out the bottom could signify a short visit to hell .. exiting out the top will indicate a trip to heaven to hang out with the BTC Angels in the 10k area.
Comment: There's also a change in the trend incoming signalling a significant movement is getting read to occur -
This move may be a movement down or a movement up and will change the current trend
Comment: What is the current trend up or down ?
Comment: BTC has taken off towards the top off the triangle which could bea break up if BTC can exit . But can BTC exit the triangle at 9217 is the question ?
Comment: The beak out attempt failed
Comment: there could be a drop back to the 88xx area then bounce back up
Comment: Trend change coming up
Comment: Gravestone Doji on the 15 giving a bit of trouble - should resolve soon.
Comment: use a good stop loss of about 150 dollars
Comment: 250 dollar stop loss is better
Comment: if it drops will stop at 9211
Comment: The 15 min candle is counting downwards . the max it can go for is another 45 min. With a max drop of 9211 if it does come down. Then it will resume back up.
Comment: The direction is still 10400 .
Comment: note the doji, the pinbar and the 8 on top of the 45 min candle
------------------

Comment: My interpretation is after the 8 is a 9 which is usually a change in the direction and a 1 to 4 candle pullback ( this is using the 45 min candle ) .
The Pinbar usually reverses the direction and the doji continues the movement .

My interpretation is this means is BTC can drop close to the bottom of the channel at 8900 then move back up . It will not be a fast move and will happen slowly.

This is just my interpretation and of course nothing can happen and BTC just continues upwards
Comment: in other words this may be a reversal down so be ready in case it is
Comment: sure does look like a drop to 8900 to me - this also a good entry point if you missed the boat
Comment: should stop around 8900 depended on your exchange -
Comment: There are two stops one a 9120 and the other at around 8900
Comment: The stop loss is incase BTC gets carried away at 8900 and goes further , But im sure 8900 is it .
Comment: The 45 min candle should drop one candle more in 8 minutes
Comment: This is a slooooooow move ..
Comment: next candle by the 45 min in 2 minutes -
Comment: we have reversal back up ....
Comment: The reversal should take BTC back to 9323
Comment: Notice how BTC has left out the last 100.00 of the drop. BTC does this strange behaviour often and pretends to ignore it but will come back at a later date or hour and collect it ...
Im adding this to the list of BTC IOUS 8500 , 7800 , 6k and 4K
Comment: There could be a temporary dip to 9060 then BTC moves back up again .
Comment: Now we can see that BTC has come back to complete the second part of the drop that was missing it was around 9060 depending on your exchange.
Comment: I recall there was an 8900 in there also and will double check .
Comment: Wholy crap . I got to sleep and now this crap .
Comment: Why worry when there's still 4k BTC on the roadmap .
Comment: 8500 is next and that's the missing 8500 drop
Comment: Which now leaves the following missing drops 7800 , 6k and 4K
Comment: THis last drop is not correct as it should be 8565
Comment: extending the graph shows 83xx is also a possibility
Comment: The Daily has wrapped up and today will conclude 8 days of drops . So there should now be 1 to 4 days of upward movement Which will end on Sunday .
Comment: This last day of dumps will end in 10 hours
Comment: using the 4 hour candle shows the drop its working on is a drop to 8200
Comment: These whales are going to pay for this !
Comment: BTC looks likes its going back up to 8700 but 8200 is the distance drop for the 4 hour candle . S0 if 8200 i skipped its an incomplete move -
Which will leave 8500, 8200 , 7800 , 6k and 4k drops missing,
Comment: to avoid any fake moves we can check in with using the 11 hour candle . which shows that future scheduled moves are 8200 and 7500.
This moves may not be taken today as BTC is sneaky and pretends to ignore them
Comment: we can cut to the chase and examine BTC monthly . This hints at the following two drops 5k and 4k which will be coming up at some point - Thank you BTC monthly

Comment: There is a bullish doji pn there but BTC has already moved past the body and is on its way to the south ...must be Australia ,
Comment: And for all teh XRP fans as this graph from January shows...there will be 40 cent XRP coming up .....yay !

Comment: Note" 10k is still on the map as we did see BTC hint at 10500- so we know this option is still in play .
Comment: Be wary of strangers in dark coats who say the correct is over at 7k. its not - We will see a minimum of 4k for BTC before the correction ends.
There is one last and the strongest and best point of correction for BTC that no one talks about and that is at 1300 . This was skipped in 2017 and has never been covered - but as we know BTC the bull does not forget.
Comment: Another interesting thing is BTC will hit 64k and 100k in 2018 .
THis is why we should not fall for these sleight of hand misdirected moves.
Comment: notice how someone is pumping BTC then pulling out the cash

Comment: looks familiar

Comment: BTC is sill working on this one

Comment: Descending continuation triangle 7800 , 7400

Comment: Theres a probably good run in this triangle to 9200 , but the 8900 resistance point is the place to be careful .
Guess ill join in for a bit ..
Comment: There should be a pullback to 8688 then it will move up again
Comment: The next spot will be 8796 which will pull back to 8726 then move up to 8842
Comment: the challenging area will be 8914 which is a double top .
Comment: Why 4k ? . Because of this graph


Comment: if i redraw it and scale it out , we are still in the same place on that graph and nothing has changed , just the days
Comment: 8583 coming up
Comment: this covers the 8500 drop which now leaves these drops still missing 8200 , 7800 , 6k and 4k.
Comment: The 4 hour candle shows this is a big drop to 8200 .
Comment: The last drop shown is to 8000. This could hit in a few days or hours
Comment: this drop will take care of 8200 which now leaves 7800 , 7500 6k and 4k missing .
Comment: And there is still a run to 10500 which is still in play
Comment: using the one hour candle the current drop should end at 8000.
Comment: The one hour candle maybe sneaky and climb back to 8400
Comment: The one hour candle may be sneaky and climb back to 8400
This is a bulltrap as the minimum drop distance is 8200
Comment: this is looking better at 8251
Comment: With the new candles added by the 4 and 1 hour candles m the minimum BTC drop distance has moved to 8050. This looks to be the final drop for today .
- There is a 7600 drop also but ill have to double-check this one late r.
Comment: Haha - This is one of the things that BTC does that is odd . BTC was working on a move to to 8000 and has abandoned it midway and is now moving higher.
This is red flag for me as this is an incomplete move.
Comment: adding this to the BTC IOU list - 8000 , 7800 , 6k and 4k
Comment: At this point BTC has gone mad and is making up random movements - it has to drop the drop to 80xx to be legit
Comment: BTC is playing tricks - there's a termination move in there

Comment: That gravestone doji is a reversal down and terminates the move
Comment: This looks better 8055
Comment: Target has moved to 7786 -


Comment: Yay! we have an agreement amongst the candles 7800 appears to be it
Comment: Even the 2 hour candle agrees its 7800
Comment: But
Comment: The 12 hour diagrees - hes says its 7500
Comment: The 12 hour is a big candle and takes longer to close - so he may be onto something here.
At least now we know the 7500 mark is many hours away so we can party like its 1999 while the 12 hour candle is away
Comment: The good news is after 7800 this will only leave two missing drops , 6k and 4k..
yay!
Comment: mmh This looks strange ..the drop distance is 7800 not 8000 . BTC has gotten confused again
Comment: Its gets a bit tricky now because the are two drops showing . 7800 and 7400 , which is the bottom is tough to tell
Comment: Any ideas guys and gals where the bottom is ?
Comment: Theres a space between the two values so 7800 will be hit now and 7500 could be a bit later .
Also BTC hit 7900 not 7800 so this upward move currently is an incomplete move and has to be Fake as the drop distance is to 7780 and not 7900.
Comment: Theres also a termination move on the 1 hour so BTC could be be playing ticks again
Comment: BTC will hit 7500 in a few hours going by the 12 hour candle .
The only way BTC can prevent the drop to 7500 is if BTC climbs to 9200 in the next 12 hours
Comment: Aha moment..!

BTC is till working on this move so the drop is not over yet

Comment: i think BTC could follow this pattern

Comment: BTC hit a pinbar and could do a reversal down soon .
Comment: Should be coming down now
Comment: Abd BTC should hit the correct distance of 78xx
Comment: mmh maybe not
Comment: This may be it ...drop it like its hot
Comment: takedown by Doji reversal
Comment: Bulls and bears are fighting it out to decide the BTC direction
Comment: this looks better 7860 , but we can go lower
Comment: This should get to 7500
Comment: Note:
=--------------------
Out of curiosity i graphed this using the 23 hour candle to see if the values change and the price reflected is 7199. So we may see further BTC drops .
Comment: Still checking
Comment: Glad i checked as there's something wrong
Comment: The price reflected is 6700

Comment: so you can sell if you break even
Comment: This 23 hour candle is a big candle and closes in 20 hours so the value can change.
But I've double checked and its returning the same value of 6700 .
Comment: Putting this together - the end drop for today is 7500 but in 20 hours to one day the graphs show the drop will be to 6700
Comment: Just have to remember to get out in time
Comment: Anyone feedback ? Questions ? ( As always this is not trading advice )
Comment: The BTC futures market closed today and there's another closing in two days
Comment: Question: from Wuntag Elton John
"myctoxin do you believe that crap about the 23 hour candle saying BTC will hit 6700"

>>Myctoxin
Thanks Wuntang Elton John, I use the 23 hour candle because its not used any traders so its not easily manipulated and its values can be trusted. With a big candle showin on this 23 candle its a fixed candle from the past so the values cannot be manipulated.
This is also how I can check when BTC has missed a drop .
To confirm I've checked the past values this candle has returned and the values do check out as correct. Id say i have 85% confidence in the value the 23 hour candle is returning . Thank You "Wuntang Elton John"

PS: By the way, I made up this Question and Answer but you get the point.
Comment: BTC is still faking it as this move is incomplete . BTC has a move left to 74xx . The only way BTC can avoid moving to 74xx is if BTC explodes and burns or if BTC moves up to 8182 which will negate the move to 74xx.
Trade closed manually
Trade closed manually: BTC also moved up to 8182 to cancel out the move to 7400,
Again, thanks for taking the time to reply. Keep doing what you're doing. :)
Reply
Thought so, thanks for the reply
Reply
mycotoxin Clueless13
@Clueless13, Cheers BTC also moved up to 8182 to cancel out the move to 7400,
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Or was that the 7600 drop?
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Quick question, what happened to: The 12 hour is a big candle and takes longer to close - so he may be onto something here.
At least now we know the 7500 mark is many hours away so we can party like its 1999 while the 12 hour candle is away
Reply
mycotoxin Clueless13
@Clueless13, This one is closed as 7500 never showed up, he still may later but working on the graph below today ,

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You were right about 7600
Reply
mycotoxin Clueless13
@Clueless13, yes , This was the 7600 area drop
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NO more scrolling....too long
Reply
mycotoxin doktorek
@doktorek, Cheers - will start a fresh one but first lets see if we can end this with 7500 showing up.
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