In my previous chart, I said that we were on a falling wedge. A falling wedge mostly breakout on the upside. The problem is we are NOT on a wedge but a channel and a bearish one at that. A bearish channel can breakout on the upside and downside so we have a 50/50 chance for either one of those scenario to play out.
The crucial part in all this is to identify...
The weakening of the bitcoin market over the past 24 hours has proven that the bears are still in control of the game. I was hoping for the 8000 level to hold but it did not, which confirms that we are still in the giant bear cycle.
So where does it leave us? As you can see from my chart, we are currently traversing inside a falling wedge. I am estimating the...
I know that many traders are expecting Bitcoin to tank further. However, I believe that the multi-year bull cycle correction was already over when we hit 6k back in February. In fact, we have been on a new giant cycle starting from April that will bring us to 22k by end of this year. Of course I could be wrong but if I am right, the road to 22k should be something...
Expect ETC to surpass the $100 mark before Summer 2018. Hold it.
1. Solid teams behind development.
2. Promising ETC roadmap for 2018: www.etcdevteam.com
3. Original Ethereum (ETH) chain.
4. IoT competitor, MegaIOTA, is flawed.
5. The only first generation altcoin that has not hit 3-figure.
We have witnessed the meteoric rise of bitcoin over the last 4.5 months from a mere $1,800 to $10,500. Now we shall witness the meteoric fall of bitcoin from $10,500 down to $1,800 over the next few months. Bitcoin is way over-bought. What we see now is a bubble and all bubbles must burst. Do not think for a second that we are on the S-curve that will only rise...
If I am not mistaken, the peak of the 5th wave rests somewhere around $11000. Things may get panicky near the end of the 5th wave so it makes sense to lock in some profits now. Let us see what unfolds.
So many are bullish towards Bitcoin Cash after its huge leap to 2799. What I am trying to paint here is another scenario for Bitcoin Cash in the event that Bitcoin takes another correction to the 5000s before moving beyond 8000s.
Bitcoin's attempt to get past $4,600 was rather weak and showed signs of exhaustion. A dip down to 0.382 fib area is very likely before taking its price up a notch. It would not be a bad idea to buy the dip at $3800, which falls on the area that crosses with the trendline.
My applause to every Ripple investor who has endured the recent Wave 2 correction. We are now in position for what looks like a Wave 3 impulse which will set a new all time high for Ripple. Many traders would claim that they earn more by day-trading other currencies. I told them this, "Sure, you can choose to lose sleep doing that and risk losing 90% of your...
I expect a big correction to materialize somewhere between now and early next week. If we get an ATH double top, then we should see a sharp dive to the lower 1.40s (purple range). Otherwise, we might land somewhere between lower 1.30s and upper 1.20s (teal range). I recommend that we setup our Buy orders at these two ranges highligted in my chart. Good luck trading!
I expect the price to float above 1200 as we wait for SEC to announce the ETF outcome this Friday. This is a good opportunity for a very short-term long. Be on your toes at all times. Good luck trading!