DXY, EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD
SPDR S&P 500, ADVANCED MICRO DEVICES, INC. - COMMON STOCK, 12 RETECH CORPORATION, GENERAL ELECTRIC COMPANY COMMON STOCK, INVESCO QQQ TRUST, SERIES 1, ISHARES MSCI EMERGING INDEX FUND
S&P 500, Nasdaq Composite, Dow 30, Nikkei 225, DAX Index, FTSE 100
Gold, Silver, Crude Oil, Natural Gas, Corn, Bitcoin
BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
US 10Y, Euro Bund, Germany 10Y, Japan 10Y Yield, UK 10Y, India 10Y
Gold, Brent Oil, Crude Oil, CFDs on Natural Gas, Palladium, Silver
RSI touched oversold and reversed.
Stoch RSI clearly oversold with the blue line crossing the red line, which meanse that the reversal is happening.
Wherever we go, we are still stuck in the white channel. I don't see much hope for the next bubble. It is just a regular descending channel. Don't forget the possibility of breaking down soon (red arrow).
I have noticed the two patterns in picture. Both are reversal patterns, so we should observe an upward movement. It confirms my Gartleys idea (check related) in the longer term.
Stop Loss: 210 USD
Comment: We can see, that the first Gartley was a very nice example of the theoretical model from the link. There is a strong possibility that the second will be similar.
Near target: 285
Target: 200 USD
SL: 260 USD
It seems, that we can observe the third bat formation here. The both ones were successful for me and helped me with recovering from MT Gox loss. Let's see, what will happen this time.
Stoch RSI clearly overbought.
Comments are welcome.
EDIT: It is called an inverse head and shoulders pattern:
Target: 320 USD
SL: 200 USD
RSI, Stoch RSI oversold.
The self-explainable chart.
I was wondering, and I am sure that you were too, whether this is the end of bitcoin or not. Hopefully, the bitcoin economy grew massively during last year. I am sure, that this is the one and only factor which blocked bitcoin from falling apart.
Have a look at the chart. Isn't it a beautiful, regular structure? Is it similar to the bubble? ...
The divergence on both MACD and RSI strengthen the Double Bottom setup. Looking for a bounce.
As you can see, we are sitting on the support once again and the shape in green is pretty much the same as in June. We're gonna hit the red line and fall somewhere near 200 USD. But before - why not earn some money? Stoch RSI is oversold.
Whales are not eager to bid in the bitcoin auction. It is not a good sign at all.
This surely won't help us to go up again. Because we are at the end of the yellow triangle, the only reasonable result of the news is a downward movement.
Three months ago I published an idea (see: Related ideas) which is still very possible.
I added more bad news that I googled. I updated the bats to be more precise, but my prediction of C in the second bat was perfect. Let's see what about D.
Have a look in RSI - it looks very bullish (yellow lines). We shouldn't have much to worry about.
the chart is self-explainable. Check out the other updates of my most successful Bitcoin analysis.
The Update #1 of my idea was another success. Here is my next prediction.
Isn't it too perfect to become true? Don't be shy - share your opinions in the comments section!