This is an update to my previous idea: a. BCH has broken down the trend line. b. It is trading between the scenarios 1 & 2. c. After a bearish gartley formation, price has retraced to .618 level ($1800). Together with the former resistance (1780), this makes for a relatively safe starting point to look for possible gains. d. MFI suggests severe oversold...
BTG has jumped a couple of times before, but those were rebounds from oversold conditions. The question now is, is third time the charm? I admit I don't know, but there's a long-term support here that makes the current point a good long entry. Unless a major crash takes place in the coming days, I believe BTG will go up. If it develops its first bullish run, my...
Perhaps I was euphoric in my previous post, as BCH appeared to have broken $2000 with ease. However, after the third attempt failed around 0 o'clock UTC, it crashed (I thought that time would be successful but it's understandable that failing to truly break $2000 the third time would lead to a drop). There are three possible scenarios that I see. Very easy to...
Yes, I've been talking about BTC going to 9k next Monday. => Now it appears that this isn't going to happen. The impact of futures market has been overstated only to pump the price up. However, upon reflection I realized that those big money guys who're now multi-millionaires and billionaires simply aren't going to let a major crash happen. Some correction to $13k...
I've been suggesting that BCH is a slow-mover. Today, it started to jump. The two resistance levels of $1630 and $1800 were broken in succession with no mercy. I'm very surprised that it continued to break $1900 and $2000. This is suggestive of a bullish turn of events for BCH -> I believe these days in particular this market has very little patience and people...
In my previous post, I suggested that XRP is relatively weak and therefore likely to break down by the end of 2017. Today / yesterday, there was a major pump to the tune of 80% at one point. Obviously this is unnatural. Yes, there was this escrow thing, but that was announced last month and executed last week. The actions in the past 48h are IMO nothing more than...
As the entire market turned green, BCH is finally having some growth & broke out above the descending trend line (blue). Let's review the resistance levels: 1450 was one, and it seems that BCH is past that 1630 was another, and the last attempt a few minutes ago failed 1780 was the final one I have a feeling that whether BCH can proceed above these levels...
Since my previous post, XMR finished a short correction. Right now, it's at around the previous high. I believe that unless the overall market crashes, which is unlikely but always possible, XMR will break the resistance. All indicators are bullish yet not overbought. My target is $400+ before the weekend.
LTC has been defying gravity. Is it landing on the moon anytime soon? Crash-landing, maybe. I believe this is a classic case of irrational exuberance. People who have recently joined Coinbase / GDAX have brought a lot of new capital. When BTC inevitably slowed down (or is it coming to $1mil next January?), they turned their attention to the other two options...
Supposedly, the recent series of rallies are motivated by the launch of future contracts on major options exchanges. Now, trading has begun on CBOE, but what's the volume? At this point it seems to be just a little over 2k: cfe.cboe.com 2k in 7 hours on the first day of trading -> probably not going to be much over 5k / day for a long time -> meanwhile, on...
Everybody can see that BCH has under-performed the market in the past month. My BCH has depreciated 2/3 against BTC. At this point, I believe BTC will be heavily shorted once future trading starts on CBOE. In the past two weeks, BCH has taught us that it will fall together with BTC even though when BTC rises it also falls. BCH only recovers a little when BTC goes...
Today I just noticed that my previous prediction of $800 top for DASH was realized, and the price followed the Wave V line I drew quite well (by chance). There was a slight bounce yesterday, but I think more correction is ahead. My guess is that $500 will be the target and it's good to long once reversal is confirmed. Check out my website: www.jlteng.com
In my previous posts, I suggested that BTC would possibly reach $18k and stay in a period of confusion this weekend before crashing to at least $9k next week. The first two parts of my prediction have become more or less reality. I think the general trend is that BTC starts going down. I know there are people who believe the bitcoin never goes down -> if you...
ETHUSD has been trading within the $400 and EUR 400 zone. Indicators show that it is not ready for a breakout. The indicators do not show much strength at the moment. If we refer to Wyckoff accumulation analysis, it could touch the $400 area again before a forceful rally to break above the EUR 400 area.
XMRUSD is at a critical point, it touched the 2.618 of Wave II retracement. The question now is whether it'll rebound @ $222 (1.618 of Wave I) or fall deeper. In my judgement, it's not going to stand above $240 for long. In a shorter time-frame, we also see a descending triangle.
I think LTC is still in a solid rising channel. The indicators don't suggest an overbought situation. It's likely to remain in the green-yellow area.
In my previous posts, I repeatedly mentioned $18k, which is the 1.618 extension of the annual gains when bitcoin started to lose its mind. People were / are indulged in euphoria, thinking it'll go to 100k or 1m by the end of the year while ignoring the money supply discrepancy: For bitcoin to go to $1m, NYSE, NASDAQ and most other major stock exchanges must...
I don't want to put a "long" tag on this one, because I personally think BTC will reach $18k tomorrow and stop there; this will lead to a period of confusion, and on Monday BTC will crash, along with it many coins will go down in dollar terms. However, I think BCHBTC is likely to rebound as it is severely oversold. I understand that many people wanted to have...