Hello. According to my analysis, Bitcoin is now in wave (2), which should conclude in a bottom at 8600, where Wave (3) will start, concluding at ~14360.
This is not trading advice, do your DD and so on.
I always appreciate criticism and feedback, so if you have a question, feel free.
After its explosive leg to $2800, BCH made an equaly explosive ABC correction to $865 (.236). From that low a new wave cycle started, which is now in Wave (iii).
This wave should complete at 2185 - 2.618 of (i), beginning (iv) with a target at 1800. (v) has a target between $3180 and $4000.
I have noticed a tendency for BCH to like 6.236 extensions, much like...
Bitcoin is showing bearish divergence on several timeframes. The daily looks like a dead cat bounce due to the low volume, accompanied by high CMF divergence on 4h.
The 1.236 extension falls at 8426, which also is the present channel top. If and when the trendline is rejected, i expect a drop below 5k, breaking the parabolic support and completing cycle wave 3.
LTC broke down from it's 0.618 fib, and has now found support on 0.768.
Its oscillation with BTC has graphed a wyckoff distribution cycle, which currently will be turning to throwback for a retest of 0.01 BTC.
Several market signals point to a local bottom having been reached. CMF is showing bullish divergence on the daily for LTCBTC, and BTC has reached its...
BTC has now reached the 2.618 extension of wave 1, and is showing bearish RSI divergence on the 4 hour.
These two factors make Wyckoff distribution cycle which is currently setting up more probable.
If the lows of 5450 break, Bitcoin will likely continue downwards toward 5000, for a .384 retracement retrace of Wave iii.
This is a swing trade, which is more or...
This looks familiar, doesn't it? The whole setup from SW activation ($4400) looks eerily familiar to the breakout and slow movement around 3000. This is just an idea and/or framework for placing bids/asks in the coming weeks. If we don't break @4700, this pattern is probable based on supply/demand zones and the overall market sentiment.
Relating somewhat to the...
...must inevitably go down.
Bitcoin has had an explosive run up from its extended consolidation below 3000. The Impulse from 1850 to 4400 bears similar structure to the previous "A" subwave 370-1140.
the 4h RSI is now below 50, and the upward channel is broken. I consider this the start of a corrective period which should conclude at the previous breakout 2960....
Bitcoin and other deflationary crypto-assets follow distinct fractal patterns in their price movements. Bitcoin , most of all, strictly follows a fibonacci pattern during its bubbles.
To the right we have the 2013 bubble and the previous minibubble as basis for our fib-extension. Here we see that bitcoin always has concluded its bubble cycles at the 5.236...
FCT is looking primed for a rebound. It has bottomed out and tested support many times, and is being pinched quite nicely by the BBs.
4h Macd is bullish, and RSI has got room to climb.
Good R/R, solid fundamentals; Welcome to alt heaven, my dudes.
Blocknet has been consolidating in an ascending triangle for quite long and is due for a break upward very soon. A c&h has been made in the upper part of the triangle, so imminent breakout is probable.
simple pattern, simple target.
Forgot to press publish by a bit, so optimal entries are sadly fortfeit.
OmiseGo stalled previously and established a lower low in conjunction with BTC. Later a HL was established, which created a new trendline with pre breakout resistance and the previous low.
I have strong confidence in this new low for two reasons, which i will now detail.
4RSI has balanced...
After breaking new All time highs, Bitcoin has created a Pennant pattern. The pattern is technically neutral, but the 4h RSI was extremely overbought. 1h RSI has also showed strong bearish divergence when at overbought levels.
Major support levels are identified as 3150 and 3080. These areas showed large amounts of fibonacci clustering (trailing tetrace from 1800...
IOTA has seen some love recently, with good gains with momentum. Now it needs to test supports and refuel for higher highs. RSI is showing clear bearish div in overbought conditions.
Short @ 0.414$/0.0001455BTC
Thanks for viewing, and happy trading!
ETH Bounced down yesterday after 4h RSI turned oversold. RSI also shows a bearish divergence on the 2h chart, compared to its previous high of 225.
I Expect a bounce to where the Gann and fib intersect (221) at 216-213.
Depending on momentum ETH could find it's bottom around 210, but a test of 200 support is more likely.
Short from 228
TP 1 216
TP 2 210
Hourly candle broke the bear flag with volume. The coming 2-3 days i expect a revisit of the 2400 support line. If the following bounce surpasses 0.5 of the BC leg, I consider the pattern invalid and a return to ATH more likely.
Otherwise, BTC will likely break 2400 and continue to ~2260.
Short from 2740
TP 1 2610
TP 2 2400
I Expect Inverse h&f and a bounce to 1/1 Gann line. Following the previous pattern, h&s is likely to come before it dumps more.
BTC will likely continue to drop in this manner until 1 aug, upholding downtrend line. Many possibilities for trading the waves on the way down.