It has been a while since I posted a chart and waters aren't as clear as they were to me pre-2016. Instead I'm sharing this crazy scenario which I've held and updated privately on TV for like 6 months.
BTC has been in a slow uptrend for about a year now and all is looking awfully similar to the period of 2012 - ...
Picking tops (and bottoms for that matter) seems an impossible task to me, therefore I trade upon trend line breaks which have been tested multiple times in the past. Nevertheless, this is a scenario I'm currently keeping in mind.
- 8+ months of consolidation
- 7/30 EMA weekly cross
- 50/200 MA ...
The expected bull-run in my previous chart was unfortunately short-lived, forcing me back to bear (again..) on the 8th of December - the day of the giant bear flag. I'd to conclude that BTC requires more price consolidation before a new and longer bull period can start.
I'm expecting a 'throw-over' of the red ...
Fellow trading adventurers,
This is a mix of a short term (upcoming 1-2 weeks) and medium term (2-3 months) forecast.
Short Term, Upward (24-27 oct)
- 4H MACD is gaining momentum
- 4H Stoch RSI shows room for some upward momentum
- Market playing around the 50% fibonacci, which often causes a small bounce ...
Link to my previous forecast, which was quite accurate but personally missed the ride due to a misplaced sell order (~$15,-) - https://www.tradingview.com/v/C3KWMAlW/ . This one however I already acted upon.
You'll probably find this chart extremely messy, and I won't deny that I'm an inexperienced trader - as ...
Although primary oscillators reflect an overbought status, there still might be more juice for another run up towards the $700 area. For the market to remain 'healthy', a retracement back to the $500s is something worth considering. Perhaps a 50% fibonacci nicely bouncing off the long-term bullish trendline?