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...
Details in the chart.
If Bitcoin were to mimic the previous bear market consolidation phase, here's what we'll be expecting:
- 95% pump from Bear Market lows (target $6,100 levels), before significant retracement.
- 33 week consolidation phase, ending at end of July 2019, after which a roaring 2-3 year bull rally will start.
Hope you find this a...
May-June can prove to be quite interesting (green Elliot waves) when projected based on historical EWT along with macro fib lines.
Whether this will play out is yet to be seen.
Note that there are many ways to draw the Elliot waves - this is just one theory/perspective.
Here's the Weekly Log Chart from end of 2011 on BitStamp.
If we draw a trend line from the end of the 2011 bear market (2011 lows), we see how it perfectly acts as resistance as the market tried to recover for the first time in early 2015 (after the 2014 bear market). What's even more striking is that this same trend line acts as resistance at the very...
Quick update in line with our previous analysis, expecting a final washout on Bitcoin prior to a roaring Bull Run starting sometime this year.
Well, a bearish cross just formed on the Stochastic RSI. Historically, if you look at the chart, I've outlined how much of a corection Bitcoin tends to have when the Stoch.RSI falls from these levels. My...
Will BTC correct down to $4,600 levels or will it shoot up to $5,940 on Bull Flag breakout?
Let's see! Seems like no man's land with many conflicting indicators; let's be open to any move and respect the price action.
Have a plan in place for either move if you are a trader wanting to make use of this idea!
Technical Analysis is important. Crypto is no exception.
If you map out the targets of the Inverse Head and Shoulders (purple), as well as the target of the Ascending Triangle (yellow), you'll see how Bitcoin respected these to a tee by skyrocketing to the Yellow target then correcting down to the purple target.
BTC price could bounce between the 2 target lines...
Bitcoin is hard money i.e. it is deflationary. Bitcoin is digital gold, indeed.
The Bitcoin halving ensures increase price as the demand remains constant (or increases) with the supply rate decreasing.
Details in the chart! The yellow vertical lines are the Bitcoin Halving dates.
Even if you are bullish on other digital assets (such as myself on $XRP), and...
****UP**** towards target of the Weekly Inverse Head & Shoulders pattern (target around $4.8k)
****DOWN**** towards the bottom of the ascending triangle (at around $3.7k), and possibly even lower to retest the 200 Weekly Moving Average creeping up at around ~$3.4k.
The following few days will tell us.
April should be an interesting and volatile month.
I'd like to confess that this choppy market is proving difficult to trade. Many conflicting indicators on both the bearish and the bullish sides!
I've covered the bearish scenario in my previous posts in the past few days. And I'm still leaning bearish.
However, as a non-biased trader, I'd like to look at a potential bullish scenario today:
I see a messy, yet...
Expecting a bull trap (mini bullish action up to $4,200 levels) before crashing back down to coil up within the macro trend lines until mid-April 2019.
The million dollar question is what happens next? (See Question mark on chart)
Share your thoughts if you feel like it :)
Short term trade idea:
Bull pennant breakout by tonight.
$4180 target - which coincides exactly with the target of the yellow falling wedge.
Wait for confirmation break above the pennant and enjoy the trade if it plays out!
Here's a simple trend line analysis on XRP's potential price at end of this year (EOY 2019).
XRP = $12 by Dec 30, 2019.
Note that the main initial macro target I'm keeping my eye on is in year 2020 (next year), and that target is $20... after which I expect some form of significant correction again below $10.
So I won't sell much of my XRP at...
HODL and/or accumulate well as you see
1- the ascending triangle formation at the end of this 2018/2019bear market, mimicing almost exactly the ascending triangle that characterized the ending of the 2014/2015 bear market
2- the yellow trendline
3- the uptick in the monthly stochastic RSI
June/July 2018 should be interesting for Bitcoin.
BTC likes to test the 61.8% Fib Retracement level. I'm suspecting we're possibly going higher to test that level before going down again to retest the 200WMA or the December lows for a double bottom.
This will unfolding over the coming 2 months or so.
The third falling wedge in 3 months is playing out to a tee - until now... *grin*
Bitcoin! Welcome to consolidation era: falling wedge followed by a rising wedge, followed by a falling wedge, etc.. you get the idea.