We didn't quite hit my mark on BTC-e, but the blue curvy line is what I think we'll do in the next days. China is a bit lower than BTC-e, so my goal of using China as a chart to get accurate BTC-e results seems to be working quite well over the last month. We will be breaking the year long downtrend (red dashed line) likely over the next 30-40 days. You could...
I am not sure which way Bitcoin will go.. but I feel it's going to go big one way or the other in the next 48 hours. Chinese new year festival ends today/tomorrow. Noticed in the local Chinese restaurant that they were having a dragon dance on the 25th signifying the end of the festival. It's a gut feeling that something will happen soon. Things tend to happen...
While looking at Gold vs Bitcoin and reviewing fib retractment for Gold, I noticed a possible BTC trend.. Gold at 60% retractment.. anyone see anything significant on this chart with BTC? I'm looking at the dip Nov 2013 and a similar dip Jan 2015.. from Nov 2013 until ATH, value went up at least 10x. Value at dip in 2013 was about $75 and ATH was about $1100 or...
Route A was completed early. Route B has been modified to reflect our new path. Drop to $160, bounce to $360. This will be a rapid drop and rise centered around Chinese New Year, Feb 19th.
See the labels for my evaluation of this market.
We may be entering a repeat of May-Jul 2014 with the Ichimoku Cloud formation. Coming up from the bottom of the resistance/red cloud, breaking through, rising a decent amount, then sporadic sideways motion for a month or two.
Here we go.. a few hours away from Superbowl and the bogus McD accepting Bitcoin FUD ;-) To Da Moon!
Volumes are BULLISH.. completely. We're on the early side of a pretty big push and we just broke through the second upward channel! This is the beginning.
Bitcoin To Da Moon! or so they say.. New upward trend has begun. It should push us through the top of the old downward trend and push us through the top with a steady rise over the next month or so. If we're really lucky, we'll see a trend similar but even better than the trend that began around Oct-2014 and lead to the All Time High.
Let's see how accurate my scribbles are. So far looking good.
Made some adjustments from a chart I took from Anatolio. His suggestion is that we're back to $6.23 BTC price by July 18th 2016, thus suggesting Bitcoin will die by then. I suggest that the first leg of his chart (which i've removed) should be nullified as it was the beginning of Bitcoin and the trends were too much in their infancy. This chart seems to make...
Bitcoin on a downtrend since late 2013. Copper on a similar downtrend and this chart shows and overlay of BTCUSD and Copper/USD values. Look closely and you can see the Copper trend is very similar to the Bitcoin trend. Gold on the other hand is breaking out of the 2 year downtrend and I'm guessing this is a sign of the times for Bitcoin. Bitcoin should start...
The COPPER market shows the bottom has fallen out after a 2.5 year consistent downtrend. Some say this is the sign of a weak economy and potential economic recession. Beware.. I'd stay clear of this market for the next 30 days or so until some direction comes into focus.
Silver looks like a great market to play the long term downtrend or the waves. Long term shorts could pay off well, but more likely to be profitable with some scalping or some short term shorts on margin.
After 2 years in the downtrend, it appears that Gold may be breaking out of the downtrend and ready to make it's way back upward. I'll guestimate $1250-1350 price range between now and May. Opportunity to play some short term short positions and some long term long positions. I need to find a place where I can get in on some Meta Trader 4 accounts from the US...
Each time we hit the bottom section of the pitchfork over the past year, we've rapidly returned back to normal. These crashes present great opportunity to anyone who has enough fiat to buy Bitcoin at the time.
We've been in this year long downward channel since the peak price points on Bitcoin in December of 2013. It's very possible that by end of December 2014, we will be bumping up again the top of this channel again, second attempt at trying to break out of the down trend. Things usually don't break out on first attempts, but a second attempt sometime between Dec...
Here you have it. Simple chart, just based off previous history.