GramTooNoob

GramTooNoob Updated 

This has been a pretty flat correction, but there is not enough momentum to bring the market further up. There is still a mild possibly that the bulls will go ahead for a 10k touch (don't see that happening), but that's basically just... sell more shorts. There's definitely bullish signs in the longer time frame, but that's the longer outlook. The immediate...

GramTooNoob Updated 

After much patience waiting, the market sentiment appears to be bullish within the bearish outlook. I personally don't recommend a long here due to the risk of a wave failure that brings us back to the bearish chart. (Big Fall to 8k) But I always keep both long and short possibilities open so here is what i think if going for a long here. (Note that I am still...

GramTooNoob

I am going to keep this neutral although this is a bear chart. Ultimately, I just wanted to post this chart so I can say in the future that "hey! maybe I was right afterall!" . What has been confusing for some time is whether the correction is indeed over. I rechecked all the data and I conclude that the correction from 20k is indeed over as of the 6k bounce. The...

GramTooNoob Updated 

There was a interesting pump yesterday from 9.3K due to how the 15m, 30m and 1H MACD performed a cross up at the same time, causing all the bots to buy in together. That bounce from $9.3k was expected to some degree but it really weren't expected to go that high. So now it is rather confusing whether wave 4 ended there and 5 started (assuming it was not an ABC...

GramTooNoob Updated 

BTC has constantly surprised the market again and again with climbs after climbs despite bearish signals and it appears to have finally reach an ending point. There is only so much more it can go, probably to $11650 before crashing down, if not now. Unlike others who believe that the market has indeed recovered and we are off the moon, I remain bearish and I...

GramTooNoob Updated 

Just thought I would post an interesting state of the market, since we see a rare case of inverse head & shoulder vs head & shoulder. In which, the market is trying to compete for the right shoulder. My personal interpretation is that the market is keen to do a recovery from $6k and we are seeing alot of excited buyers. But it is having a hard time trying to find...

GramTooNoob Updated 

To the market, it looks like we have indeed completed the ABC correction, with C wave ending at $6k along with a double bottom on the 15 mins. The new uptrend 12345 should then make a small inverse head & shoulder pattern, signalling an end to the downtrend. This is what I believe the market is buying into, and I think they are being misled. The inverse head &...

GramTooNoob Updated 

The market has clearly complete its "correction" now, and we have actually touched the final 6.5k absolute zone. This here is a long position entry and buyers will try hard to absorb the sell off here, in order to resume the bull market in 2018. If you are very bull bias, you want to enter here and potentially ride it all the way to 28k on wave 5. From a wave...

GramTooNoob Updated 

I am keeping this neutral because i am NOT 100% confident on this sub wave count, given how little data there is to work with. But this peak at $11900 is just the peak of sub wave A, with some room to $12200 as the absolute peak. It's not a very safe position for shorting, but can be an opportunity to add to an existing long position if it dips down to $9.9k....

GramTooNoob Updated 

I will post my idea with indicators overlay this time to show the bottom is supported. This bottom is also confirmed by other TA patterns, although I am mainly using FIB and Elliot Waves here. Wave counts are not 100% accurate if you read history wrongly, that is why i also use indicators heavily to support my wave structure. This bounce here off the $9775 is...

GramTooNoob Updated 

Its going according to the wave counts so far but something about this bounce off $9.9k don't look that right to me. The indicators aren't telling me much apart that we are indeed near the bounce zone. But the candle don't look that right to me and there might be a little more room to squeeze so likely I am guessing here we will see 1 more red candle to $9.5k in...

GramTooNoob Updated 

The 13k support line has broke and suggest that this chart will likely play out if we are no longer in a triangle pattern. Now looking to see if $12.5k breaks or bounce high. From indicators, its likely to see a bounce somewhere here between $12.8k to $12.4k just not sure to where. Probably a dead cat bounce and that would be a good short entry there on that...

GramTooNoob

Just by indicators alone there is clearly a lot of negative divergence on the 4H and you can confirm it on the lower time frame as well. Together with the daily MACD crossing under, this $13500 is clearly not the bottom. It would be wise to discard patterns and just trade momentum from here. If you are looking for bottom targets, check my other ideas. If you...

GramTooNoob Updated 

Been watching BTC for a long time to determine where it is going and the new price info is starting to become useful again. Atm it seems to be performing a rare triangle correction in a ABCDE wave pattern. Whether this could be a bullish or bearish expanding wedge, its unclear but I have not yet abandon the idea of a 8k BTC. The daily MACD has yet to cross under...

GramTooNoob Updated 

BTC shred through a 750 sell wall in an amazing last min bull run to prevent a correction but this should be the last peak of wave 4 within a big C wave down. Indicators are starting to show signs of going down from here, just a matter of bulls and bears fighting it out. Once the buy volume drop, BTC is going down for its correction all the way to 10k, 8.5k or...

GramTooNoob

BTC has been preventing a correction for the past few days, bouncing off a strange support line that looks rather weird. At the moment, it seems to be contracting within a symmetrical triangle and triangles are continuation pattern (Bearish in this case). So two possibilities here. Either it breaks this support line and goes down now or it moves up again towards...

GramTooNoob

There are 3 H&S in BTC -6.96% atm, the mega H&S on the 4h chart (can't fit in this chart) then the 15 mins and another H&S within the right shoulder on 5 mins. When the 5 mins H&S broke down, it forms the 15 mins H&S and when that completes, that forms the 4h H&S sending BTC -6.96% all the way down into likely below 2k but that is questionable target atm. I don't...

GramTooNoob Updated 

BTC successfully fended off the H&S on the 4H and H&S on the 15 mins today, creating a higher low from 13400 to 13800, suggesting that it is going upwards on an uptrend channel and moving out of its correction phase slowly. If this is true, then this here is a good pullback position to long BTC before it goes off to break 17k and 18k. Looking from the 4 hours...