By now most Bitcoin hodlers and enthusiasts would be well aware of the previous Bitcoin price surges and the price corrections that follow. The 2014 price surge experienced a correction close to the price where the surge began (0.786–1 retrace), and was followed by a pro-longed period of relatively boring price action as can be seen in the graph above.
Bitcoin wasted no time ranging between 8k-10k with the price moving down faster than the predictive (pink) arrows.
The old red trend line didn't provide any support on the downward move (at 9.1k), and I'd expect other old trend lines (orange and blue) to behave similarly with the price passing through it, then maybe just working temporarily as new resistance as...
- BITCOIN CURRENTLY APPROACHING RE-TEST OF 9K
- IF 9K SUPPORT FAILS, NEXT STOP IS 6K REGION, THEN 3K REGION.
- POSSIBLE SLOW AND CHOPPY DECLINE" TO 3K OR LOWER
Call it doom and gloom, but Bitcoin is approaching a retest of 9k.
Next stops are 6k and then 3k price ranges. Will be a chopping ride down.
Another possible scenario is for Bitcoin to go back to...
- VIBE FORMING INVERSE HEADS AND SHOULDERS
- POSSIBLE LONG ENTRY 13,455sat, TP 19,450sat, SL 11,751sat
** This information is for educational purposes only and is not advice for investments or trading **
- POTENTIAL FINAL SURGE DOWNWARD
- STRUGGLING TO STAY ABOVE .5 FIB AT 11K RANGE
- IF IT DIPS, WILL RE-TEST 9.2K, THEN NEXT STOP 6.7K
Bitcoin is testing some levels of support and currently floating at a .5 fib level. It's not unusual in the crypto world for coins to re-price to .786 levels. If this happens Bitcoin will of course drag the rest of the market...
- FORMING HEADS AND SHOULDERS FOR POTENTIAL REVERSAL PATTERN
- EXPECTING PRICE ACTION IN ABOUT A DAY
OPENING SHORT AT 0.00027274
TAKE PROFIT 1 AT 0.00018057
TAKE PROFIT 2 AT 0.00006906
STOP LOSS AT 0.00034261
GOOD HUNTING FELLOW TRADERS.
And now for the disclaimer!
** This information is for educational purposes only and is not advice for trading **
- ETHEREUM BOUNCES BACK UP TO FIB/PRICE LEVELS OF .5/$1000 AND .618/$1100.
- POTENTIAL ENTRY POINTS, HAS THE REPRICE BEEN ENOUGH?
- MOST OTHER ALTCOINS 1 FIB LEVEL DOWN FROM ETHEREUM
Bitcoin shot down last night continuing it's drag on the rest of the market, spiking back up after nearly hitting $9000. Investors should be more comfortable with this level of...
Ok so I'm just playing around here for sh1ts and giggles, but we all love Bitcoin and the big question is how high can it go? And if it can go higher, are we waiting for another major correction first?
Let's look at some history of some recent big moves in price:
In 2013: $13 to $225 (that's like x17). Repriced down to .786 Fib's $65. 180 days till next...
- CURRENTLY APPROACH THE TIP OF THE FLAG
- SETUP BUY LIMIT AT 1275s WITH TP AT 1810s, SL 1033s FOR POTENTIAL UPWARD BREAKOUT
- CAN DO THE REVERSE SETUP FOR DOWNWARD BREAKOUT
Verge hasn't done anything interesting for a while (BOOOO), but it's price is approaching the end of that forming flag (YAAAAAAY). Could be worth setting up some buy limits for an upward...
- Repricing down following the 3 surges up to reach new all time high at $1422
- First stop down is $1261, then $1161.
- Might bounce up at $1161 followed by a drop to $1081
All good things come to an end. Now repricing down to $1261 (which it just hit as I"m typing), it's next stop may be $1161. In the crypto world, repricing back down to .5 fib levels isn't...
- RIPPLE LOOKING TO STAY ABOVE $2.00
- BROKE ABOVE TOP RESISTANCE LINE AND MOVING SIDEWAYS
After a turbulent period Ripple is looking for support above $2.00 after finishing the ABC correction. Currently on it's 3rd 4h candle above the .5 fib level of $2.00, Ripple's DMI looks to be reaching a lower price action period. That upward trend line though will reach...
- Forming last ABCDE pulse, looking to break ATM
- Possible short position available after final pulse up.
- Potential repeat of Ripple with strong final surge up.
- For strong final surge upward towards $1500-$1644, looking for strengthening in DMI (last 7 4h candles in green)
I posted a short while ago that Ethereum might repeat the Ripple ABCDE formation...
- Has been forming a flag since the 17th Dec 17
- Recent surge followed Bitcoin.
- A breakout downward could see Litecoin reach towards $100.
Litecoin continues to follow Bitcoin's steps with the 6th Jan 18 surge up from $243 to $303 happening around the same time as Bitcoin's short recovery. It's also moving sideways forming a flag shape with a possible...
- Dash forming a flag looking for breakout upwards.
So I'm looking at Ripple's recent candle up, and when I flick to Dash I'm thinking, is this a breakout for Dash too?
The pennant forming since the 17th Dec 2017 BTC decline is slowing coming to a point, and there's a declining wedge forming signalling a bull.
I bought above current price so I'm gunning for...
- Continues to drop looking for support now at $1.69
- Bounced off $1.69 once, looking for a second bounce back up from $1.69 to form support
- DMI and RSI are looking bearish. Could very well bust down below $1.69 where the next stop would be $1.23
Crazy markets huh? Previously, Ripple was surging while everything else was suffering (and developed a lot of...
- Ethereum showing signs of an ABCDE wave upwards.
- Stopping at $1375, now looking to retrace down to the first fib level $1146.
- If Ethereum indeed completes 5 impluses, according to the fib extension a .5 extension would see Ether rise to $1644.
I'm seeing a pattern build up here between Ether and what Ripple experienced. Currently forming an ABCDE wave...
- 12345 wave structure up, followed by abc structure down
- currently extending along the c of the abc structure
- possible entry point, though waiting to see how much longer the market takes to cool off.
Hindsight is wonderful isn't it? I completely missed the forming 12345 wave pattern. Having seen so many multiple back to back "surge + range" patterns in...