ivogruev

ivogruev

If the price keeps above $2293 the most likely scenario is wave 5 (pink) of 3 (blue) to start today or tomorrow.

ivogruev

In the chart I disclose my opinion and one should conduct his/her own due diligence before making any investment decision.

ivogruev

Next target $3300 - 3500

ivogruev

5 waves up and 3 down.

ivogruev

My preferred one is the green arrow.

ivogruev

Only some exchanges experienced a break out of June high at 780$. Last night shows a picture for reversal in the small time frames. I suggest a temporary top is already formed and BTC will head down or sideways. Here is my preferred scenario: Wave 3 green is over and wave 4 green has already started. If this scenario proves right the blue support at 713 will stay...

ivogruev

Eur/Usd offers a short term opportunity for shorting. Stops are located at 1.1230

ivogruev

A reversal pattern triple bottom for Dash was confirmed by the large volume of the breakout. If the price holds above 0.01934 the next few days I will look for the next forming support and will expect higher prices testing two important resistances at 0.02665 and 0.02793. The second resistance is the historical high for this cryptocurrency and if Dash proves to be...

ivogruev

After reaching the bottom at $465 in the beginning of August BTCUSD formed a strong support marked with orange rectangle. It is difficult to say if the correction that started last night is over but until the price stays above $567 my preferred scenario is bullish with expectation for test of $650-$680 area. Only a breakdown below $564 will urge me to reassess any...

ivogruev

Bitcoin bounced back after the low at $465. The size of the move is big and one would say that the new bull trend has been reestablished. Unfortunately the pattern is not very convincing. To trust the bulls I need to see a clear 5 waves up. Some exchanges like BTC-e, and Bitstamp show a very ugly 5 waves move which I can consider as an expanding leading diagonal....

ivogruev

It took more then one month for the ABC corrective pattern to unfold but the decline reached perfectly his target as shown in the previous forecast. I can not rule out a decent new low but the large trading volume shows at $465 support strong capitulation. It means meanwhile the panicking bears were selling the big investors were accumulating.. The most likely...

ivogruev

The best stance for a technical analyst is to have none bias before a major news. The hard fork was such event that could present big surprises. Fortunately two days after the hard fork the facts shown on the chart are quite bullish. First we have a clear ABC pattern as correction since June 16 and second the price is forming an accelerating up trend. How high the...

ivogruev

Tova e proba

ivogruev

The price of bitcoin follows the described scenario for decline around $500.Even though I still expect the down move to resume, the large green engulfing candle is obvious sign of accumulation. I don't believe much in conspiracy theory but I am convinced that some big investors are able to impact the small trends through the info in the media. After the big rise...

ivogruev

Wave B (pink) took longer then expected but the bears are ready to emerge again. If the bulls are unable to retest the resistance at $705 the most likely scenario is for a new strong decline to the $500 level. I will not rule out even lower lows but I still need to see the pattern of the market. I am sure that most of the bulls can get upset with such scenario...

ivogruev

The target for B (pink) might be taken. For confirmation that the down trend can resume is a break down of the green support line. If this support holds we will need more pattern to reassess the picture. But if in the next few hours there is no new tops and the green support is broken I will expect a new target arond $500 for BTC for wave. C (pink).

ivogruev

A clear five waves down A (pink) is a signal for substantial decline. The corrective B will be able to retrace 50-61.8% of A. The best for the bulls is to be patient because after such retracement the most likely scenario is one more slide to $500 level or even lower for wave C (pink). The whole bearish move can go on for weeks or even months. So I believe the...