MAGICMARK

MAGICMARK

Hello team, been a while. Although I haven't posted in some time, I have been actively looking at charts. OK, we are at an interesting juncture ... so I thought I'd post my grand chart to get your opinions. Which color line are you counting on ... green, red or black? It feels like we are on green, especially after that green candle today, you have to think...

MAGICMARK

Hey everyone. It's been a while since I've last published, although I have been actively charting. I assumed we would create a traingle pattern and then have a wave E breakdown in my "internal" updates. I wish I would have published that idea, because it came pretty close to my target. I did pass that onto a few close friends and published charts on a great...

MAGICMARK

Hello guys ... BTC has certainly been bullish lately, but I think we are seeing signs of distribution now. I actually expect one more push up to around 9970 territory, just observing my gann box and EW count. My Gann box indicates we are stuck in a tight triangle, and if we break up, it will reach around 9970 where we also have a Gann fibo and historical...

MAGICMARK

I've plotted the movements of 2014 and 2015 to what happened in 2018 and up to now (end of May 2019). It seems we moved through these highs and lows much faster than in 2014. I think at the moment we are completing a leading diagonal which can take us up to 9500ish ... maybe this weekend. After that I do expect a 40% correction in price consistent with what...

MAGICMARK

If I learned one thing about BTC in 2018, it is that we should all stop guessing where it's going (up or down). I find most of the time, when we guess, it's almost impossible to push aside our emotions. What that means is that our guess reflects our wishes ... our dreams. "I've shorted from 3300, and now I believe it's going to 1000, and I'm going to get rich!"...

MAGICMARK

Hello everyone. Following the Elliott wave count, I am still expecting one more drop (sub-wave 5 of wave C, the capitulation wave). This could also be considered the spring test in Wickhoff Theory (I'm not an expert, but communicate with one that is). It's clear, there are plenty that are expecting a new bottom, and it is also clear the market has gone (bullish)...

MAGICMARK

OK gang. It's been a while. I've been tracking BTC, and learning other tools like Gann. Anyhow, I will try and not bore you. Since $20k, I've plotted an ABC pattern. If I carefully count the waves. I see a wave A, B and we are still forming C. C wave is made up of a sub-level impulse wave (if you zoomed in, the entire C wave would be an impulse) ... and in this...

MAGICMARK

Hello guys, okay, I think the next chapter is before us, and so I'll start a new idea. As predicted, we had a drop ... but what surprised me is the violence of that drop, WAY faster than I thought it would happen. We cut through major supports like nothing. I do count 5 waves, so I think the impulse is over with a low of 4200. I obviously can't guarantee...

MAGICMARK

Hello everyone. I thought I'd start a new idea ... as this could be the final drop ... I do hate saying "final", but things are setting up for a bottom retest. Let me explain. For over 2 months we've been stuck below 6.8k ... aside from one crazy wick due to tether devaluation on 15 Oct, which I am ignoring. Although this in itself is not really a big deal,...

MAGICMARK

The chaos ensues ... the battle has become interesting. Well, how did everyone like that insane wick up to 7800?? In my last idea, during my updates, target reversals were 6250, 6100, 5985, 5400 and 5000. I said I doubt we go below 5k. I also said if bulls held 6250, we could see up to 7200. This beat my expectations. People are saying that USDT is dropping...

MAGICMARK

Hello guys, been a while ... so busy, and trying to make some money trading too. It's been tough ... BTC has been in a tight range for a while. This is what I see. I believe these things: - we have completed a 5 wave impulse from when BTC started trading to up to the 20k high. - we have been forming an ABC correction since the beginning of this year. - we are...

MAGICMARK

Most of us are here to make money. I am. Crypto no doubt is fascinating, in the sense of where will blockchain technology take us. Although we buy/sell and protect with stops ... ultimately we must decide if this is all one big fun experiment for someone and will eventually melt to $0, or whether there is a future. I'm surprised by the resilience of BTC....

MAGICMARK

Back on June 23rd ... the bears allowed BTC to find relief at 6200 only for 1 day, and then tried taking it down. That caused them to lose the battle. Let me explain ... we are all dealing with people, who have emotions ... fear, fomo, greed, etc. After pushing BTC down to 6k, many people took profit on shorts and some even longed ... after 1 day of...

MAGICMARK

Hello everyone. The picture becomes clearer each day. Well, some will look at my chart and say it's not that clear, not with all those lines! LOL. Focus people ... don't worry about all the dashed support lines, just look at the bold red and bold blue. Here's a quick explanation: - we could go down from right here. - I do see room for it to go up to around...

MAGICMARK

Tough to be bullish about BTC nowadays. Those sweet 30% rallies in a 24h period seem like nothing but a daydream at this stage. BTC (and alts), what happened to you? Futures sure rained on your parade. Here's my latest thinking folks. My last idea I suspected a drop and some sideways around the key support of 6800 ... well we dropped, but went right through 6800...

MAGICMARK

Hello everyone. OK, so maybe a few of you are asking where is BTC going now. It seems we had an amazing rally up to now and then it just stopped. Perhaps you are thinking, we are just consolidating and soon, just like at 6800 and 7800, we will see that green candle that will take us to 8800. Maybe. Perhaps you are thinking, we are going to double top and go...

MAGICMARK

I love finding patterns ... most traders do. I think I found a gem here. The top line is BTCUSD open long positions on Bitfinex. Consider it the volume of BTC that is being longed on Bitfinex. The bottom waves are the relative USD price for some major alts (ETH, IOTA, NEO and EOS). I could add more, but you get the point. Other than EOS which went gang busters...

MAGICMARK

Hello All, I haven't posted an idea in a while. I've been working my trades hard ... averaging my base costs down to really good levels. My strategy has been to accumulate and work those base costs down to prepare for a bull run. OK, here is what I see ... based on sub-wave count, and some possible interpretations ... Blue wave in essence means the inverse...