My last video comparing the 2013-2014 Daily cloud to the current 3Day cloud showed a potential run up to the 13.6 range if the path stayed valid. It did not! Here is my current analysis and why I am sticking to the current Daily, as well as much shorter timeframe clouds for signals.
From what I've learned of technical analysis so far, chart patterns have a habit of repeating themselves. These snapshots of BTCUSD just before the Mt. Gox collapse and now seem strikingly similar, and there are similar levels of uncertainty surrounding some of the major crypto exchanges these days due to the ongoing confusion with tether. Do these exchanges...
sorry, i entered a small long first, then finished the drawing. just to share/visualize the insanity / emotion going on in bitcoin at this time.
On his rational path - and humming his favorite song, 'rational bear' was confronted through an 'imaginary unicorn calf' blocking all the rational trendlines in his sight! again. So suddenly! Will taking the detour above the 'unicorn hill' be mandatory once again? - Or could 'rational bear' just go back in time - or just duck down, and crawl along the...
Just for a refernce with the current bitcoin price action. Cheers.
What are you seeing today? Its a bubble? 2010: 2011: 2012~2013: 2014: Today: more consolidation could will come if ETF is not approved on 11th March 2017... some buying opportunity on dips which could still go to $700 to re-test but I could see a really vertical pump if it is approved... and crash like 2014
This chart gives me a warm and fuzzy feeling. I hope it gives you one too. In the black since $333! The general idea is that the value of bitcoin increases with adoption. So far the best indicator of that has been transaction volume. For a period of time we were way higher than the true value of bitcoin because of the Willy Bot scandal at Mt. Gox artificially...
A break above 1180 could signal the end of the secular bear market within the larger bull market of gold, as for the first time gold made a higher high price since it fell from a peak of 1900. Current price action is considerately overbought, but every dip was bought up given the fear and global macro. Next few days we might potentially see Dollar correcting by...
Given we are neutral at the moment, I wanted to take a shot at a first draft of a definitive EW count for bitcoin. Elliot Wave purists will deride my nomenclature, however I am trying to grasp the overall count from price inception in the simplest way I can understand. This is a Mt. Gox/BitStamp daily blend that I found awhile back that seemed fit for a decent...
Some strong reasons to believe that we are already done here and it is not going to rally further. Yesterday's attempted rally at 2463 range had a huge second potential for Bitcoin to test the highs yet it is algorithmic smacked down hard by certain individuals on both Huobi and Okcoin. A possible bounce will unlikely to break the now resistance already. I'm...
On this (especially by journalists) almost forgotten chart you can see the extreme price swings Bitcoin went through. Interestingly the very first major price swing finally found support ending a correction phase in the middle of November (and we currently have November, 7th, 2014). This could mean everything and nothing to the pattern repeating Bitcoin...
New version! I looked at all the original information from MtGox which is still available on TradingView and noticed that my last chart using Bitstamp prices and pivot dates wasn't aligned perfectly with the real pivot price data from MtGox (which shaped the price from 2010 until the melt down in 2014). BTC has still a high risk too fall even more. The pink Gann...
First reliable breakout signal off the downtrend after the long 7 months bear market for Litecoin. (Correction from 48 USD -> 3.3 USD. 14x decrease in price) We also have a double bottom made on 22.10 CNY (3.3 USD). This is an extremely good risk/reward place to be taking position on Litecoin with stops at 21.69 CNY.
All in the chart, self explanatory :) Strategy for the next few days: Sell the rally, buy the dip.
Short area: 2852 CNY / $460 Completes the exact elliot wave I've been looking for ever since the slump from the 500s: We are not done with the bear market yet, don't get converted to the bull camp!
Well at least it's still pointing upwards! I have been thinking about how to display this data since we breached the 'current' longterm trend line (in indigo) back on the 11th of August 2014, and came up with this chart. Seems Bitcoin's USD price history is one of major trend line destruction. Good news for bulls I guess is in 5 out of the 6 times we crossed these...