IMHO. Have any thoughts? Feel free to comment
Very simple, noone seems to want to pay for above 2.9k Bitcoin, 3k keeps getting rejected. This is a low risk high reward trade, keep stop around ATH if it breaks with volume. I will be keeping an eye on fundamentals since this can change the whole picture, but I believe we'll see prices of at least $2000 before we can attempt to crush 3k.
Handle may be currently forming. However, it is rather deep down for it to be a textbook handle. Therefore, I think a smaller cup may be forming, approaching the test of the resistance trendline between 720-800k, followed by the forming of the handle before *finally* seeing a breakout.
If BTC traces similar to LTC after SegWit
Examining the BTC Daily chart provides a good point from which to establish our next short-term long position, and gives us good perspective on the overall BTC trend. While we are currently bearish we have enjoyed fantastic price action maintaining a consistent 550.00 dollar range, bouncing well at key fib levels allowing for fantastic short-term long gains. ...
The chart speaks for itself. Make sure to have your funds in a safe place BEFORE 1st of August, under no circumstances leave them on exchange (unless you dont mind losing them). Unfortunately, I am not able to predict what will happen after the critical first day of August as the situation is highly complex. One thing is for sure, fear and uncertainty will be...
Unfortunately, it seems that the Megabull ended prematurely thanks to a bunch of greedy companies and miners attempting to monopolize Bitcoin and sabotage Segwit: Roger Ver with Bitmain attempt to launch Bitcoin Unlimited through a Hard Fork but fail to get community support due to poor coding of BU, ASICBoost, Antbleed etc. We finished from BU thought we...
ETH is still struggling to break the downward channel. We saw a good increase in volume today leaving many of us optimistic about the market. As long as ETH fails to break the channel, I have indicated several fib levels that will likely indicate support. Use these levels for your shorts/longs. Remember, even though this is a bearish market, we can still come...
BTC/EUR
Just having some fun in response to the "LiteCoin in the Final wave" post. I think it is always a good idea to step back and look at the big picture. Keep in mind that Litecoin has had this boom in large part because it's tied very strongly to Bitcoin charts, and bitcoin has also rocketed from 1200->2600 in the same timeframe. If Litecoin goes down, Bitcoin and...
Litecoin has been acting stronger than $BTC, I assume it might grind sideways like practically all coins, until all hell breaks loose by August 1st. Most people are worried, or bearish overall, and in the recent bottoms, we saw traders unload long positions in loss, to quickly realize they had fallen for a bear trap. Until fundamental risks aren't out of the way,...
fractal progression + Fibonacci wedge + elliot impulse wave + Cypher Pattern
fractal progression + fibonnaci wedge + elliot impulse wave
Hello everyone! On the fundamentals side : I believe the altcoin/token bubble is over. Most of the altcoin charts I see point down and the same goes for Bitcoin. I am of the opinion that this bubble popping will bring Bitcoin down with it (but to a much lesser extend). Also, as you might have heard, Bitcoin has had a problem upgrading due to some miners...
Following what seemed to be a strong bull run, we found the strong layer of resistance that was expected at the $32 level. This layer of resistance corresponds to the upper trend line of the triangle that is formed from the pre-SegWit highs. Bulls stumbled a bit after a correction following the run up to the resistance at $32, this led to a stagnation period in...
I am making it a point to keep a close eye on SegWit activated coins, so as to chart their progress over the course of their technical development. VTC is the newest SegWit-activated coin, with 100% of all nodes signalling support. I am excited to see how atomic cross-chain swaps effect prices, and the overall advancement of the crypto-sphere. Here we have VTC in...