This is a view, how a push to 10k might still be possible.
Even higher imho possible.
If we don't correct now, and the double top therefore doesn't materialize, as I feared today in the morning, we
could indeed see an upwards break of this triangle.
Highly interesting times we are witnessing.
I am myself quite unsure now, that's why I post this differing view...
So apparently BTC doesn't want to push for 10k just yet, and needs to rest a little.
But how low can it go?
We can identify important support levels by the Fib retracement for the whole move from 3200 to 8500, and with the volume profile.
We can see that 6500 is the most important support level. If it holds, then we see a resuming of the rally from that...
I am more conservative on BTC normally and think we'll hit the ATH sometime in 2021, at around 100K, maybe 150K with luck.
It's better to be conservative imho, than to be overly optimistic and then be disappointed.
However, there is a slight chance, that BTC does something crazy, and this ultra bullish scenario would qualify as something like this for me.
And again, everyone starts drawing the arrows down, lol. Everytime BTC makes a pause, the traders come out and draw the arrows pointing down, to at least 6k now from 8.5k.
The dump at 8.5k wasn't strong enough. The reaction was weak, as if the resistance wasn't even that important.
The same happened at the mighty 7.5k resistance area, which tunred out not to be...
I've been taking a look at Monero, and this coin looks interesting:
1. It didn't climb a lot since the low in December
2. It XMRUSD basically looks EXACTLY the same as BTCUSD
3. It's doing the same as bitcoin, but lagging behindt
4. It's now where bitcoin was 1-2 months ago
5. The coin itself is interesting because of fundamentals, anonymity etc
So, I have to...
So BTC is bursting through all resistances, and leaves many top posters surprised, who were all still drawing the 2015 fractals.
I posted a month ago a contrarian view, because BTC likes to do the opposite of what people think it will do.
For example, I did the same mistake to make the 2015 fractal comparison, therefore thinking that we'd see one final leg to...
So, I was stating yesterday that one of the reasons why BTC turned unexpectedly bullish, is the strong performance of stocks, especially tech stocks.
That makes me believe that many treat BTC as a tech asset, especially CBOE and wall street players.
So, we see the correlation on shorter timeframes is definitely there, even though it is a bit delayed.
I was also taken by surprise that the bullmarket started earlier this time, than back in 2015.
Back then, we had a whole year of consolidation with a classic Wych accumulation phase for the whole year of 2015.
With two shakeouts.
A look at the monthly picture tells us, that the monthly Stoch RSI is already starting to rise sharply, going above 20.
Interesting what LTC is doing.
LTCUSD and LTCBTC are both cooling off very fast, all indicators going away from the overbought zone.
At the same time, we see a double bullish falling wedge in the 4h chart: Both LTCUSD and LTCBTC are doing this falling wedge structure.
This means that we'll probably see a breakout to the upside at some point in LTCBTC and...
Interesting dump happened due to the Bitfinex allegations.
Let's see how this play out. Even though BTC broke through the bullish triangle as in my last analysis, it got rejected at 5700. Which is a weird price point, since above 5500, there was little resistance.
Yet, still, here we are.
Now there is this ascending channel at play, and we have to see if BTC...
There are too many people expecting a crash nowadays, because there are some indicators showing a similarity to the 2000 and 2008 stock market crashes.
I am convinced however, that if too many people expect something, it will not happen. Quite the contrary will happen.
I am not a stockmarket shill, I don't even own any stocks. I started learning TA when I...
I was long thinking on why this recent rally has happened and searching for clues in the past of similar events.
Then I discovered something very interesting.
Every time BTC broke the previous linear trend in the logarithmic chart, it retested it, not long afterward.
It happened after the 2011 bearmarket, it happened in the 2014/15 bearmarket, and even if it...
Most think of a 2015 fractal repeat, but I have turned from short-term bear to full bull since the massive MA200 break and weekly candle close above it.
I think BTC will go in this push at least to 6500 (lower limit), but as high as 7500 is indeed possible, before any major correction.
We see a nice slow ascending triangle in the 4h chart.
All indicators point...
Well, the weekly BBands are extremely narrow in XMRBTC. So a breakout seems likely.
Even though we are a bit overbought on the weekly timeframe, the monthly says that there is huge upside potential.
Stoch RSI has been oversold for a very long time now, and this together with the BBAnds, imho favors the upside.
Now USD-wise, of course, much depends again on BTC....
Looking at XRP's monthly chart, we see a structure forming that is very much like the triangle at the end of the last bearmarket.
This time, the bearmarket is also coming to an end, and XRP is poised to break up to the upside (if BTC doesn't decide to do insane dumps).
If BTC sideways or further up, we'll see a strong breakout, because XRPUSD is extremely...
I am asking myself, as surely many of you also, why is BTC just not correcting, how can this be? It's basically overbought on all timeframes, and really extremely overbought.
On 1w, 3d since 2 months now almost.
This only happened twice before in the history of BTC: June to August 2012 and January to April 2013.
Now there is absolutely no similarity to the...
It's time for ripple again !
And I'm kinda on a roll today, no idea why, but I just can't stop with this sh*t lol.
So, XRP is the only altcoin that hasn't yet risen much since BTC made the last low and started rising now.
In fact, XRP seems absolutely unimpressed and the price didn't change much.
We must therefore look at XRPBTC to understand why.
I only see comparisons to the 2014/15 bottom.
I made the same mistake of comparing this rally to the 2014/15 bearmarket, which was one of the reasons why I came to the conclusion that we would see a sell-off to the 1800-2300 USD range
with a strong capitulation spike as in early 2015.
However, it seems that BTC doesn't wanna repeat the 2015 low.
We had no...