Bitcoin started the day with a rally and tried to make a breakthrough its downtrend. However, sellers were able to defend the $12k level and brought bitcoin where it opened, This rejection confirms us in our previous forecast as we expect the following days to see Bitcoin's prices to whipsaw in a new accumulation phase. The stochastic indicator is issuing a...
We have now ruled out 2 scenario's and at this point (previous posting), I'm looking at the 12,500 as the next target, however I have concerns between this range above 12275 and below 12500. I have a fib ring that has made prices drop when this is touched. With 13K being the main target. Previous posting scenario's
This puzzle is very complicated and we can only can guess and share our ideas. They all have a case to make, so which one do you think "is likely to happen?" Scenario A) or B) or C)? Scenario A - Channel forming a large bull flag in a up trend. ========== Fib pitchfork supports this model. The chart below is created as a fib channel and one can see, many of the...
Along with the video I posted today, I decided to do a new writeup on Bitcoin. As you can see here, I'm comparing the BLX and BTCUSD Bitstamp charts side by side, to show where various long term supports and resistances may align. I'm not including my "market cycle" boxes in this analysis, because I'm doing something a little different here. I did call the recent...
Its all bullish short term.
Just making this short with key points as reminders: > 10 EMA still not broken > 21 EMA on daily and 50 EMA on the 4 HRLY still resistance > We had the death cross and not the goldern cross. Refer to 2017 trend to see its relevance and the 100 daily EMA > Trend is still downwards > Smart money still waiting patiently indicated by volume (refer to previous volumes...
Highly likely we'll be around 8.3k-8.6k within the next 48 hours. Previous charts: Objective: This has been going exactly according to plan as per my last 3 BTC charts that I've posted. Here's the update. We have rejected from the 10.2k twice now (the red boxes). I was originally worried for my short position we'd get to 10.6. Not worried anymore. We've...
Bears have broken out and gained control after the break of support at 9657 i am sitting all cash waiting for some clear patterns to play out. Will be looking for some lower highs and lower lows to set on the 4 hour chart.
After reviewing my initial post above, v2, I realized the picture didn't convey what my main message was, although it's in the text. "If we break down the 9400, then we look at the 8900 to 8500. There is a chance this will break. Hence I'm going in about 30% of my fiat for going long at this range. Its possible it can break lower to the 7K range." "The 8500 to...
Continuing on with the previous post, I have tweaked the hypothesis based on recent information, others opinion and the fib.pitchfork channel, etc.
Three days ago, I shared a forecast here giving everyone a heads-up of what to expect from Bitcoin. The main reason I posted that forecast was because the top traders here were far too bullish at that time, to the point where they ignored all the tell tale signs of a bearish continuation that I mentioned in that forecast (click chart below). Today's forecast...
First this is a technical version of the previous post. Link provided below. Where does one start to explain this chart? 1st I'll attempt to explain what a FIB. Pitchfork is good for, a good trading indicator for trend change. I learnt about this one early this year when a man showed how he identifies a change in trend. The video demonstrate (link below) that...
Unless we see a pump above 11.1K, i'm still quite bearish, in thinking we could easily see a dump to 8.5K
The picture tells the story... Why? We had a parabolic run, then we will naturally see a sell off at the top. Prices drop back to the support zone where it all started from, the parabolic run. Accumulation and the cycle starts all over again. Current possibilities to match the above hypothesis
If inverse H&S was to be in play, it should have been triggered in the 4 HRLY already? right? That made me think, why isn't it doing so? Hey, I could be wrong but here is my hypothesis otherwise the inv. HS should have happened. So I looked again and then I realized, we see inverse HS in play because it looks obvious. However I now believe the Head is not...
Daily review of BTC ETH LTC and XRP My strategy is swing trading ill be looking to get into trades that last a few days or a week i have a busy life and cant be on the computer or phone constantly to buy or sell.
Observation: As per previous post, the hidden bearish divergence is most likely holding back the current follow through. Hence the main resistance of 10600 (initially) is looking difficult to pass. Beyond this, I anticipate a lot of volatility between 9K and 10500 (blue triangle region) I have factored in a number of key milestones into this post and only if and...
While we can see BTC is still producing lower highs and lower lows. following the downward trend that started around the 10th of July. If was can rally through the 11.4k resistance, it will be quite volatile until we can push through 12.4k. Though, the expectation around the web is that it is in a strong downward trend and will likely bounce at 8.2k-7.9k. We'll see...