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Expecting some descent movement in next days, with these targets in mind :
-Upside : 400 breakout, expecting a top target around 530
-Downside : Expecting a 200 retest
As we can see BTC is loosing its impulse.
Market has seen a steady increase in volume for past weeks, especially on the buy side.
From this point we could still see a spike to 9k before the next major dip, higher seems unlikely yet.
Price is currently stuck in the 880-910 range. The best option is to wait for a breakout with a good volume.
From here the key levels are :
-Supports : 870, 850, 830
-Resistance : 920, 950 ,990
It seems like the bottom was the 760 area, we are due for a 50% retracement around 850 area before hitting the top of the wedge.
I am neutral about what will happen there
Expecting price to go around 1220-1300 in a fast spike.
Then we can reasonably expect a correction to 800ish (previous peak level)
$GOOG broke down the bull trendline, I expect at least a test of the $530 level.
$GPRO is breaking up of the falling wedge.
Expect a target around $50 before seing some correction to retest the bullish trendline
Everything is on the chart, let's wait for a signal
As you can see, on the previous rally we touched the trendline before making major movement down.
Nothing is suggesting that this time will be different.
A bounce from here will fit fine on the RSI trendline.
If the bounce from here is confirmed (break of $280 and stabilization around $270), the target is $305-$315 level.
But a breakdown of the 250 level could ...
We are above the major bull trendline and in bullish pennant formation.
Last leg progression give an estimated target around 2000 cny on okcoin and $320 on bfx.
Don't be fooled by the bears, we are still above the kijun of the daily cloud and above the trendline. We are in this uptrend from mid-january.
We are above a small trendline that suggest a new leg up coming today or tommorow.
But we can also correct to the major trendline in the 255-262 area, that could be a perfect place to buy in with a stop loss below the ...
Price brake through the daily cloud, the lagging span has still to pass through it but is facing a small resistance that shouldn't impact the overall bulltrend.
I expect a retest of the bear trendline, still too soon to pronostic a break or a fail from this point.
TL;DR : take a long
As we can see on the graph, the price touched the trend line coming straight from $166, on chinese exchange this trend line has be broken but the price is trying to bounce back on.
Resistance is forming and $248 appears to be the key levels to break for the bulls.
I advice you to stay out of the market while price is in this area and to wait for a break out one ...
This week we failed to break the upper band of the bubble channel, it seems obvious to expect bitcoin price to revisit the sub 200 area.
The price seems like stuck below the kijun (purple line), which is proving the weakness of the bulls and their lack of motivation to try to reverse the trend at this level. The next key support is the 150$ area and then the 100$ area.
There is a little possibility for a bullish outcome if the price finaly cross the kijun and close above, the cloud resistance is ...
The daily break down below a support line and is free falling below the cloud. I expect the price to retest 300 area and probably the previous low point at 270.
As you can the daily have clearly some room to go up, we get down without any major retrace. 540-560 is a legitimate target if can break above 515-520 (A). From there (B) we can retest the midterm downtrend trendline, break above will push to the high 500s maybe to retest 600 (C), if we fail to break above 600 we can expect then to get to bottom of the pennant in ...
What we saw earlier was the bitfinex algorythm in case of margin call cascade.
This is the explanatation of how it work (not official one, just guess).
There is a limit for the margin call cascade of about 10% drop in 1 minute. Then the algo stop market selling the bitcoin, and let the buy order to fill the gap. Then it sell again to the previous limit and repeat ...