It was a nice time up here. And I was very bullish. But Bitcoin needs more buyers. We needed to break above $454 again, but it appears less likely now, therefore I'm bearish. Volume is negative. I now expect the price to fall down due to missing bull power.
A few ideas how the price could move the next weeks based on the potential bottom of $275 and the last peak of $454, as well as the interim bottom of $317. green arrows = uptrend red arrows = downtrend blue arrows = sideways P.S. If you like my charts, you can leave me a tip: 1PmAnb2htvHnCbwNAxkV7b8XvVQyQ7LQLg Thanks!
3 months ago I posted this chart: This a quick update of my last chart. Let's see if this Fibonacci circle has any meaning (if the price peaks here or makes a pullback before the rally continues).
Since I pointed out at $325 that this could be the end of Bitcoin's 2014 downtrend (also meaning that there could be a rally) () the price increased almost 40% up to $453.92 on Bitstamp. Sounds good. But then the same day it peaked also occurred a flash-crash, where the price crashed down to $381.55 in a very short amount of time and thereby essentially ruining...
After a rally to almost $454, which was way too fast, Bitcoin now tries to find a new price the market can agree on. The current outlook is more bearish than bullish with an expected bottom at around $360-$375 or lower. Current price while publishing this chart is $389. And here underneath are some smart comments from TradingView moderator DrewR...
The chance that this is the long awaited uptrend is growing. This is an update of my original chart, which I created 1 month ago: In this update I optimized several indicators to better reflect the current trend. Overall it's looking good. But 2014's downtrend has not finally been broken as of today. That's why I post this as a neutral outlook.
After months of decline Bitcoin has found a bottom at $275 and is trying to move back into the uptrend area at $400 since taking the plane () and after testing the bottom at $315 (). Here is some guidance of where the price is moving in a larger scale right now on a daily chart. Next resistance is $403 and $418. Strong support is at around $338-$339. P.S. If you...
I expect the price to drop a little and then resume the very bullish uptrend. But If the price doesn't bounce up at around $347-$350, then I expect the Bitcoin price to fall down to around $330.
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...
Here is a land of imagination, hopes and dreams. Magic and make-believe are reborn and fairy tales come true. Fantasyland is dedicated to the young at heart, to those who believe that when you wish upon a star your dreams do come true. Each Fantasyland has several gentle rides.* Using the RSI (Relative Strength Index) indicator with a 12 week period (equal to...
After months of decline* Bitcoin is arriving at a bottom. I see the momentum change to become bullish this week in this area above the Fibonacci retracement where Bitcoin is starting to create a double bottom pattern, if you only consider the real body of 1d candlesticks without the lower shadows (wicks). And BTC is currently at my scenario "B": meaning if the...
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...
Using only two Gann squares it's possible to detect some interesting area of Bitcoin price decision in Spring 2015. Gann square 1: 2012: $9.50 low connected with 2013: $259.34 high Gann square 2: 2013: $1163 high connected with 2014: $339.79 low
Highly critical price area right now. I think Bitcoin is in a ultra-short term downtrend inside a short-term uptrend which emerged, after being the last days in a ultra-short term uptrend inside a short and medium-term downtrend. So basically the trend changed from down to up during the very choppy market. Please check out and compare my last chart where I used...
Is investing in the Bitcoin market really that easy? I need a time machine!
It was a nice time up here. And I was very bullish. But Bitcoin needs more buyers. We needed to break above $400 again and then we had to stay above $400, but it appears less likely now, therefore I'm bearish. Volume is negative. I now expect the price to fall down from $380 and lower due to missing bull power.
--- Update --- After the anticipated breakout of breaking $400 didn't occur, I posted a new bearish forecast 2 days later creating this chart seen here. Please take a look at my current forecast here: --- Update --- Against my bearish forecast from 1 day ago () the price seems to be much more bullish than I expected. After a very short test of $370 the price...
The trend is more bearish now, eight days after I published this chart Therefore I expect the price to fall down to at least $355 to test the bottom there. -- UPDATE -- Didn't happen. Sentiment is still more bullish than I expected. New chart: