gmtfooh

gmtfooh Updated 

This idea ties in with my other idea on the Bitcoin bullrun fractals. See link to that below.

gmtfooh

I have been trading off the 2017/2018 bull run fractals and so far it has been really helpful. The coming days will be interesting to see how Bitcoin will progress. If Bitcoin can't keep this level and would make a lower high, I would be short term bearish and looking for new buy opportunities as low as the 40K region. We never really retested the 40K high of Jan...

gmtfooh Updated 

We are getting close to the Bear - Bull showdown! Are we in the third leg of the final wave 5 (to USD 6,000 / 7,000 or even 10,000?), or are we still in the ABC correction after the last wave? Shortly we will know. My thoughts: (1) On the shorter time frames, I see a potential H&S forming, potentially bringing us down to the USD 4280 - 4300 support line. After...

gmtfooh

we are seeing a slight correction on the last run. I think the last run could take us to USD 40 first before we see a larger correction. I have buy orders pending at USD 34.70. If those hit, I will take the ride up to USD 40 and take some profits. I will then reset buy orders at the same level for the wave up to USD 42.

gmtfooh Updated 

Neo broke out of the downward channel. Now, a nice little bull flag is forming. Target at 32.70 and stop-loss just below support of downward channel

gmtfooh Updated 

Bitcoin had a great run the last 7 days. I see a short term correction coming back to the trend line.

gmtfooh Updated 

In my last post, I indicated that we may go down as part of a bigger ABC correction. The rising wedge currently forming could support that. Bulls will argue that the (C) correction already happened at my (A) and that we are now in the first leg of the final wave (5) (to USD 6.000 - 10.000). Both theory's can still be upheld. In any case, there is a short term...

gmtfooh Updated 

The bulls vs the bears, who will win this fight. In max 12 hrs we will know. It is not looking good for the bulls though, rising wedges and overbought for hours... Bulls will win before year end but I think this round goes to the bears. Look for 2980 double bottom, 2500 fib extension 1.27 and 2250 support line.

gmtfooh

BTC broke recent channel down. However, beware of bearish cypher @ 4461.

gmtfooh Updated 

Now that we confirmed continuation of the downtrend in the channel, look for possible reversals. Thanks to all that have commented.

gmtfooh Updated 

Rising wedge on possible ABC correction. Target 1 at 3800 and Target 2 at 3600.

gmtfooh

Look for fib retracement of .886 of A, so roughly around 4600. If it goes down at that level we may see decline until 4300 to complete the butterfly followed by a nice upward movement well past 4600.

gmtfooh

It looks like Neo is completing the Elliot Wave correction. Could have been completed with last dip, however, typically C ends near or just below 4 and A. Look for reversal on fib levels and breakout on the right shoulder.