Asterix

Asterix

I am overall leaning slightly bearish now, but I will not be surprised if we go more up from here, maybe even new ATH. I just expect at least smaller scale move down here, similar to what was happening last time when btc was trying to clear up daily MA20 from below. GL and trade carefully, corn is known to suprise all.

Asterix Updated 

Now that we finally bottomed (I think bottom around 9k was the real deal) we resumed the multi-year bull trend. Based on historic data, after negative moving average cross, we have one sharp fall and then the resistance is broke up in one move (on daily). We will see how it goes this time, but so far the multi-year bull trend in BTC is intact, which means that...

Asterix

On the weekly BTC chart, the up trend (ADX, RSI) is still strong and intact. So far, EMA-20 has always provided support and a launching pad to a new ATH, although it can take a couple weekly candles.

Asterix

We are still in a clear up trend on weekly. Daily shows Ichimoku cloud test. During this bull market, after such a test we always established a new ATH, even if daily fell briefly below the cloud.

Asterix Updated 

What if it is a tripple bottom? Decreasing volume consistent, bullish trend on weekly still intact, in spite of very bearish short term.

Asterix Updated 

I know there is a gazillion of TA indicators saying we 'have to" revisit 5-8k levels, or at least go briefly below 10k. TA rules are not the laws of nature, though, just useful tools to analyze eternal struggle between bulls and bears. I think this balance has shifted slightly, but importantly toward bulls recently. On the last sell-off, despite all of the Korea...

Asterix

Yes, they title is intentionally provocative and at the time of this writing it is not yet clear what happens, we have fallen a bit from recent tops, it is now around $518 on Bistamp and 3180 on Huobi. But I do think, that now that players controlling tens of thousands of btc forced liquidation of almost 14 million worth of btc long, they would go after the...

Asterix

We can see tripple top forming on the 1h chart - and a lot of negative divergences: RSI, True Strength Index, Chalkin Money Flow. If the Tripple Top formation will complete, the decline will be modest $10. Interestingly, 4xForecaster got the same short-term support at $619 from much more sophisticated model. Long term (months) outlook remains bullish, although...

Asterix

My somewhat educated guess what would happen. I think rising support line that stopped us last time at $538 will hold, but that the current (third) attempt to go over $610-613 will fail. This triangle will imho resolve upwards around the time of FBI auction of Silk Road coins.

Asterix

We might have head and shoulders formation on 4h charts. Neckline is clearly rising on Bitstamp and Btce, so there is definitely bullish bias remaining. Neckline is flatter, but still rising on Huobi. To confirm, we should see price falling down through blue dash line, target price will be around $600 (green dash line). Many oscillators are showing negative...

Asterix

Looks like bearish flag is forming on 15 min charts on Stamp, Btce and Huobi as well. If indeed we see breaking down, to complete the pattern it should go down near the green dash line, around $600.

Asterix

Looks like there is a triple top formation in 15 min charts. There is an obvious overhead resistance at $680, but triple top formation suggests the critical support is around $650. If we break it, the fall should go at least to $620. Interestingly, it was also published here that based on weekly Ichimoku clouds $650 is also a critical support. Any thoughts and...

Asterix

Not any elaborate analysis, just snapshot of the current situation. My working chart - with indicators borrowed from others around here - shows clearly how much have technical situation worsened in the last 24 hours. Any comments and predictions welcome :).