Details in the chart.
AB=CD + fibanoacci retracement confluence for a 40%+ drop from 2019's ATH, followed by a sharp bounce to new ATHs this year ($16k) in August.
Enjoy and cheers,
Here's a long term idea for Bitcoin on the monthly chart.
We present 5 rough Elliot waves up to the Jan 2021 target right at the 13.618 fib extension.
The 13.618 Fibonacci extension (retracement drawn from the 2017 ATH to the 2018 bear market low) proved to be the top in the previous cycle). We project that it may also be the top in this current...
Here's a small update on Bitcoin's current correction phase.
We have completed waves A and B, and are currently up-trending in wave 2 of C.
Projected PA for the coming week (Completion of wave C) is in the chart :)
After the completion of wave C, I expect continuation of the bull rally with another parabolic rise to $16k. We'll see what happens...
Seeing the powerful parabolic rise of this year, I decided to look at 2017 and try to extrapolate an idea. It's a wild idea, I get it, but it's nice to see for some perspective of how powerful this year's parabolic rise "could" be and how big of a crash we could expect if it does actually play out.
AB= April to Sept 2017
CD= Sept to Feb 2017
Enjoy this monthly chart. We're mainly looking at prior fib levels and extensions.
XRP on the monthly chart certainly likes its fib extensions. Look at the Spring 2017 bull rally, hot the monthly candles hit the 1.618, 2.618 and eventualy the 4.618 to a tee!
Let's see if history rhymes and we see $XRP hit those fib extensions again on the monthly...
Although I am still bearish and expecting $8.5-9k levels for the end of this correction, I am seeing the formation of a "potential" inverse head and shoulders on the 4 hr chart, which is bullish for bitcoin in the short term.
IFF this pattern plays out, and Bitcoin actually breaks bullish from the neckline of this Inv. H&S, then the target is almost...
Welcome to a brand new update on $XRP.
Details in the chart where we look at the volume and MACD indicators.
Things look like an XRP moon shot is delayed till Q4 this year.
I don't expect much to happen during the coming summer months (July - September).
Nevertheless, it's looking increasingly bullish (technically and fundamentally) and I think...
Welcome to another update on BItcoin.
If the current short term bearish momentum continues, we are expecting Bitcoin to "cool off" with a couple of red monthly candles to bring it to its mean/averages, namely the 100 DMA or the 100 DEMA. That would bring $BTC down to the $7-7.5k area for a 35-40% correction. That would be very healthy for bullish...
Quick update on $XRP versus the USD.
Given price action history of the looong 2 year consolidation triangle in 2015-2017, I'm becoming increasingly convinced that XRP will rhyme with that price action and continue consolidating in a very similar triangle (as you can see in the chart) until EOY.
Will Dec 2019 be a repeat of Dec 2017? Let's see....
Yet another Bitcoin update! $BTC
Monthly chart shows a strong parallel between the initial parabolic rise of early 2016 and 2019.
1- In June 2016, Monthly RSI topped out at the same level we seem to be topping out on now, around 60.75!
2- Both had roughly a strong parabolic rise of 300% increase or so in price from the real definitive breakout points, with a...
All in the charts. That's how I simply see things :) It may take longer though, of course.
Best thing you can do is either HODL or add to your position. July will show a lot of volality but eventually Bitcoin is skyrocketing soon to $20k and beyond.
I'm personally shorting the market from $12.5k - but I wouldn't recommend shorting if you don't know what you're...
Very strong resistance and probably reversal area at the 61.8% fib retracements drawn from ATH ($20k) down to the 3 bear market bottoms - an incredible confluence!
$12,379 (61.8% from 2011 low)
$12,436 (61.8% from 2015 low)
$13,600 (61.8% from 2018 low)
$ should be levels where $BTC possibly tops out in the short term.
Let's see what happens as we enter that...
Welcome to this new update on Bitcoin!
I don't have much to say other than check the chart! I love simple macro analysis as it gives further confidence and perspective for our investments.
- MACD Monthly bullish crossover
- RSI Monthly broke major resistance line.
- halving event in May 2020 will yet again significantly reduce the BTC supply.
Hope you enjoy this.
All is in the chart really.
I expect $LTC to keep pumping to $215+ by early July. Then a massive dump will follow a few weeks before the halving.
Litecoin tends to hurt many many fomo people - it goes bearish a few weeks before the halving, while everyone expects it to pump up until the halving.
It's a good trade now, and safe...
I present an expected rough Bitcoin price action forecast based on long-term trend lines!
Long Bitcoin! A great investment going into 2021/2022.
P.S. This is not financial advice - price action can (and probably will) be very different. This is just a helpful framework for perspective.
Details in the chart.
Look up the Money Flow Index indicator if you're not familiar with it. It's a very effective indicator on the daily chart - basically combines RSI and Volume.
Expected Price action of this ~35% correction is outlined roughly in magenta color, along with the expected MFI movement. Target of correction is around the $6,000...