Currently BTC is correcting downward and most cryptos are moving same. I find XRPUSD chart well-formed. Predicting BTCUSD bottom price is not that obvious compared to XRPUSD though they will end correction at same time. Chart above is self-explanatory.
BTC found local bottom at 6.5k recently and where to go from 6.5k is hard problem because either scenario is equally plausible.
1. Scenario 1 : Going 8.5kish from here
- 2014 Bitcoin chart showed double bottom around previous low and returning to mean of descending channel happens.
- Current setup is similar to 2014 scenario. But this case, another drop to...
Bitcoin has shown weakness and etherium shows more weakness
It seems fractal from 2017 july comes again. High possibility for ETH to go below 450 usd in days. There can be one-to-one correlated points with 2017 july chart but since move is almost finished, it won't be necessary.
So one strategy from now on is buying at green line and sell at orange line. Green...
Hi I'm hardboiled. trader from korea.
BTC rallied up from 6k to 11.8k and now time for pullback as I mentioned in earlier post. As you can see in chart, rally up from 8.9k is mini fractal version of bubble mania cycle and it have be pull back till 0.5~0.618 level.
Red square are identical and shows steepness of correction. market is likely to follow yellow line...
Hi! I'm hardboiled from korea. This scenario is about possible correction. If there's no correction, traders expect to go up to 12.5k.
In case of correction, possible stop point is 9.5k. first stop point is likely to be 10.3k
It could go higher and probably few hours from now will be bullish.
The rally from 6k from almost 12k was so amazing. it's almost 100%...
Hi this is short term BTC analysis
It seems to me current set up is bigger fractal copy of previous pattern (left circle)
which indicates BTC will start up rally to 12k soon. not the corrective wave.
If rally starts, I think 11.8k is the minimum target
after 12k expected major correction is likely to come.
estimating target price level of the up-rally is hard...
Hi bitcoin ended long and cruel correction
Lot of new traders who came in mania cycle suffered with loss
Fortunately, there is sign of reversal with possible reverse head and shoulder patter
It's likely to headed to ~12K level corrected at each downward trendline
There is still lot of btcusdlong position.
We should keep eye on btcusdshort position.
Hi i'm hardboiled from korea.
Bitcoin broke trendline yesterday.
It's following my bitcoin scenario 2.
I think this bull run can last until Jan 30 (UTC+9)
I personally think it's good to buy when it's bottom of the box and sell at where gold line and trend line meets.
I'm really happy and excited to see Bitcoin rise
But let's keep in mind there is...
Hi I'm hardboiled from korea.
This is another short scenario for bitcoin.
1. RSI level for bitcoin 1D chart can go more lower
2. ETH chart can be serve as indicator of bitcoin chart
"the finale of bitcoin's correction = 1D RSI touching some point" in past if you see the black circle at bottom.
currently bitcoin and etherium(including all alts) are moving...
Hi I'm HARDBOILED from korea
Another Scenario which doesn't go to 8k
current breakout make this scenario likely.
we'll see how it goes
this is based on similar pattern developed weeks before.
this pattern depends on how long this breakout can hold.
the nature of chart doesn't allow to price go down so fast nor drop so fast. It returns to some point.
I'm HARDBOILED. trader from korea.
It will go to 8k for sure with down trending channel
UNTIL CME. AFTER that it will retrace back to that trendline
second straight line is korean exchange open to new traders
It really creeps me out that Jan 27, that trendline meet 8k and 8k happens to be fib retracement of all increment from last November~ December