Well, unfortunately, I don't have a crystal ball so I can only say what I feel may happen over the next few weeks. I have to say that I was somewhat impressed with the bounce that BTC made from the low of $6000 to almost doubling within two weeks. I find it kind of interesting that the price made almost a 100% retracement to where it was on Jan. 28th when the...
Bitcoin is going ahead with its bearish movement. It has to get over 12300 in order to begin a bullish direction otherwise it will test the first short-term support at around 10000 or lower at around 8 thousand. Right now the best choice for short-term investments is to go short by paying a high attention to capital management. That means Small investments to...
I will write an opinion adiditonally regarding this situation. My opinion is that traders are aware of retracement (long expected, prolonged, but inevitable). No matter how long price is being pushed, it certanly cost money to maintain it. Traders, someone is waiting for you to " join and participate in rebounce". Be careful about one thing: Don't drive this...
What we're looking at since 6 February is BTC making gradual bullish waves. On that day BTC started it's upward movement (2nd part of the Head) through the first sign of reversal i.e. Inverted Head & Shoulders. Now we are here trying to break $10,000. As you can also see ALTS are not making much progress. Some are but the majority aren't. This is mainly because...
We have compleated 5 sub-wave structure and finished 3rd wave. Everything going just as i tought, after finishing 3rd wave we will retrace to/around fibonacci 38.2% lavels and i will lot for entry in green box $10150-9975 for last wave 5. My first target for wave 5 is located just below fibonacci -23.6% and second below fibonacci -61.8%, however i think that we...
Enlighten me.
I have been somewhat skeptical of the recovery we have been witnessing from Bitcoin and the crypto market as a whole but I am now seeing some signs that make me wonder if I have been a little too skeptical. Looking at the Bitfinex price chart on the hourly time frame it looks to me as if BTC is in the process of completing an inverse head and shoulders pattern....
Okay, so was that it? Was the low set on Feb. 6th the bottom? I wish I could tell you with definite certainty yes or no. Unfortunately, as I have said before no one really knows for sure. Since BTC set the low of $6000 on Feb. 6th it has bounced to a high of just under $9075. But what worries me is that BTC came down with such speed and momentum that I have to...
Bitcoin is still rebouncing in a channel (7800-8400), it could stay there for a couple a few days, but when breaks trendline market will be pulled downwards with 40-45% price drop which might cause panic sell and lower the price (5800 level even deeper). Everything with Bitcoin would maybe look fine (if we deny fact that sinked already from 19.000 level to 12.000...
Regardless it rebounced from 6.000 level and regained 2500 in value, Bitcoin showed many sign of weakness so far, on the first place after rebouncing from 9300 back to 11,700 none of the candles weren't closed near that price (prices were closed at 11.000 level, that means he can not pressure that price range trying to form his price on higher level, because, on...
Bitcoin has been decreasing from its high a couple of weeks ago. Now, we see a hammer candlestick forming, this means the prior trend could be reversing- it also a bullish signal. This is supported by the RSI being overbought. However, the ADX is expanding, the Coppock curve has broken prior support and is falling. This means there could be a short-term fall...
Bitcoin and the crypto market as a whole have been in a bear market ever since the Dec. 17th high. How long will it last? Where is the bottom? The truth is no one knows for sure, all we can do is look at the charts and to be honest come up with an educated guess. IMO I don't think we have bottomed yet, I would not be surprised if BTC made a 100% Fib retracement...
BTC has been forming a pennant pattern for the last 10 days. Pennants are continuation patterns which generally breakout in the direction of the overall trend. If this holds true it would indicate that there is more downside for BTC. How low will BTC go? I still think the $8000 area is very possible.
Chart is more important then words: We have ideal ABCD harmonic pattern. Using Fibonacci retracement tool on leg AB, the retracement BC reached the 0.618 level. The line CD should be the 1.272 Fibonacci extension of BC. The length of line AB should be equal to the length of line CD. The time it takes for the price to go from C to B should be equal to the time...
IMO BTC looks like it possibly has formed a double bottom or "W" shaped bottom, at least in the short term. BTC still has a lot of work to do if it is going to reverse the slide it has been in for over a month. To be honest, I can't say for sure that this is the bottom and from here BTC will only go higher. As I said, it may only be a short-term bottom just like...
Hello Traders! Notice you, that near future BTCUSD has minimum 4 variants of possible priceaction. Correction phase, is not over & still in power! Plse, be care youself! PT's choice - "Short term target": 15000$. "Middle term targets": 19000$ - 20000$; "Long term targets": 27000$, 30000$, 40000$. Subscribe to "Powerful Traders"! Everyday, nine Tengri's...
For now, the bears are still in control of BTC, every time BTC attempts to bounce back it is met with more selling. IMO BTC is heading down to the $8000 area as I laid out as a possible scenario (#2) in the Dec. 23rd chart that I published. When you update the chart you can see how the price broke through long-term trendline #1 then came back up to retest it...
BTCUSD Chart I accidentally noticed I used Bitstamp but it applies to mostly all exchanges... Bullish Pennant is formed, needs an upside movement to hit the topside resistance to form a new support for a clean breakout. Possible for it to break down through the wedge and cause a downward trend. But the higher lows is a bullish indicator. Trade well. Trade smart.