Second_Mouse

Second_Mouse

BTC downtrend breakthrough still in the cards... We are now into a new month and the March PP is established at 9315 which happens to be almost exactly the low of this recent pullback that began on Feb 20. On a positive note this is the first time since Jan 11 that BTC has been trading above the monthly PP. The stochastics are turning back up so the question now...

Second_Mouse Updated 

The big breakout will be when BTC breaks through the downtrend line. If we see a tight consolidation at the top of this move or a bull flag then it could happen soon..by the end of the week. The month of March starts on Thurs and all the monthly pivots will re-adjust. BTC will be trading comfortably above the March monthly PP which I currently calculate at 7850...

Second_Mouse

This might be the catalyst for a breakout. BTC formed a "Spinning Top" with a lower low on yesterday's daily candle. It closed above the 38.2% fib which is emboldening the bulls. If today's candle closes above the yesterday's ST high at 9850 that would indicate a trend reversal and make the breakout of the falling wedge likely. According to Bulkowski there is a...

Second_Mouse

Along with a bearish reversal "shooting star" on the daily chart...a lower low on the 4hr chart and drop through the uptrend line points to next support at the 38.2% retracement at 9520. The prior low on Jan-17 at 8981 coinciding with the yearly R1 is also a possibility. Higher vol on the down bars and RSI pointing down are also confirming this move.

Second_Mouse

LTC failed bull flag breakout...this morning on the 4hr chart we had 4 closes above the bull flag high from Feb 15 however there was no follow through and now price has dropped back down into the bull flag formation forming a shooting star which is a bearish reversal pattern. BTC has also failed to breakout above the YP and up through the downtrend line. It...

Second_Mouse

BTC failed breakout and shooting star reversal pattern...The yearly pivot at 11,465, the downtrend line and prior consolidation are just too much resistance at this point. The RSI is pointed down and if BTC fails to hold 10,308, the 38% retracement at 9577 will be in play...

Second_Mouse

BTC breaking above consolidation, the downtrend line and the Yearly Fib Pivot @ 11,480. The volume is not strong but the RSI is now above 70 which usually signals accelerated price movements ahead. BTC needs to close above the YP today and tomorrow to confirm a move higher... More info at CryptoSpeculator.io

Second_Mouse

How to spot potential reversals with fibonacci retracements. In a downtrend, potential major trend reversal levels can be identified by drawing fib retracement lines from a significant low and connecting the low to the most recent significant high. The 61.8% retracement, 161.8% (Golden Ratio) extension and 261.8% extension are the areas most likely for a bottom...

Second_Mouse

The volume in this uptrend is nothing to get excited about. We will probably see a pullback on a touch of the TL. The 61.8% retracement at 967, DT line and prior consolidation add resistance. The Monthly Pivot is at 1084 and Yearly R2 at 1077. Buying after 2 daily closes above 1084 (MP) would be the safe play.

Second_Mouse

2 closes above the YP is a buy signal. R1 at 376 is the next target based on the rule of pivots.

Second_Mouse

BTC put this on your radar...the Yearly Pivot is ahead at 11,469. Not only was there prior heavy consolidation at that level, It also intersects with the down trendline. It might be wise to reduce risk, take profits or wait to see what happens before taking a new position at that level. I always look for 2 confirmations so 2 daily closes above 11,469 would...

Second_Mouse

Classic bull flag break...up from here to 200% fib at 246.

Second_Mouse

A the typical pattern in an uptrend..."buy the dips" only works on an uptrend... so buying on a 38.2% pullback @ 9,365 would be a high probability trade...

Second_Mouse

We have expanding volume on the way up (flag pole) and now contracting volume on the flag - 3 candles sloping down at the top. This is a classic continuation pattern which points to probable move higher. Consolidating above the 161.8% fib another reason for optimism...

Second_Mouse

Pulling back to the 38.2% retracement and resuming the uptrend would be bullish,

Second_Mouse

Consolidating for another advance.

Second_Mouse

Good overnight session. We have very orderly price movements on the 4 hr chart...almost textbook. The MFI (Money Flow Indicator) is still above 50 and a failure of the SRSI to turn down...both positives. We have what looks like a higher low at the 10,600 / 27% fib. The fibs are showing you where support an resistance are. The 50% fib line is the next hurdle which...

Second_Mouse

The trendline from the low on 3-30-2017 and the 61.8% retracement from the low on 7-16 are converging. In any case we should see a bounce here. A close below 9200 on the 4 hr chart would indicate further selling. Buy when the Stoch RSI turns up over 20 on the 4 hr chart.