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...
Enjoy this chart. All details are in the chart, showcasing the confluence of bearish indicators for the 33% correction within this BULL market.
1- One final push to the upside (9.8-10k levels) this week
2- 33% correction to the 50% fib in June
3- rip to $11.5k in July/August, after the RSI and Stoch RSI have cooled off to oversold...
Check out the chart for a confluence of a few indicators that resembles the price, volume and other signals/fractals around the March 2017 time.
Could XRP take off from here? Fundamentally and technically, this thing is bound for a parabolic rise.
Update on Bitcoin!
Weekly RSI has a bit further upside to the green line; historically this has been the upside resistance in the long-term bull market, as you can see.
Weekly NVT signal has no longer any upside if we were to look at history. It looks like it has topped out and is ready to dump anytime soon.
I expect the #Bitcoin retrace to...
It's all in the chart. Here are the targets I'm mentioning:
1) We already hit and blast through our first bull flag target (yellow color)
2) We've yet to hit our second Cup & Handle target @ $7.8k (purple color)
After we hit this target, I'm expecting a significant retrace back down to either the $6k levels or the 55 EMA at the worst (around $5.3k at the...