Despite all the good news and the absence of FOMO or FUD: all quiet in the BTC front, except for the bots! Market transitions (Asia-Europe-US) may throw mayhem, but overall people are too busy figuring out their taxes, the US dollar going up, and the stocks going down. I will hold on to this trend line until it has been challenged at least 5 times, then will...
1. Cup with 2 handles with 3K gain from 9050 level
2. Daily 128MA @ 10500 - Major Resistance expecting rejection back to 8K-7K
3. Daily 200MA @ 8200 - Major Support (with interim level @ 8900)
4. Awaiting for TD9 on weekly for reversal upwards (3 more weeks) to moon
1. Entry @ 8850 - Completed (no stop loss - long if needed)
Today many indicators were registered:
1. EMAs crossing (50 & 200) - Death Cross indicating downtrend when candles intersect at the same point.
2. TD9 on an uptrend followed by 4 candles resulting in reversal downward
3. Beginning of weekend: the usual dump and forget
The results of these 3 factors will drive price down to the previous bottom @ 7752, being the...
Looking at previous strong retracements on falling triangles, it is more often to hit the same support (low - $7500) once more if not lower. We are entering the weekend and most traders will get out of their positions (sell), so expect more down trend. This what happened last September 2017:
We will be bouncing up and...
No doubts the monthly is going sideway (in a range) and the weekly, daily, and hourly are going down a channel, so what opportunities avail? We have a chance to get cheap BTC as it is going down the channel: this is a waiting game for those who missed the $9K on the previous drop as we will reach the buy zone by 01/23/2018 and will probably stay in until the...
BTC sellers are tired (multiple breaches & pull backs) as the down trend is transitioning to a range (pink box). Now mid-day on 01/11/2018:
- 50-100-200 MA are parallel on the 4HR since the dead cross on 01/06/2018
- no more lower HIs & LOs and we have an average volume (+- 25M).
- 4HR RSI oversold and 1HR is at 50
- MACD at the lower end and on the...
BTC has again been put to the test and it is now going down near the daily 50 MA, which will allow more capital accumulation from bargain hunters. As we all know, most forks have brought BTC down and then consolidation to allow for a sharp uptrend. So we are going downward during Christmas and then up in the New Year: finish as lambs in 2017 and start as lions...
Assuming we will form a C&H pattern and given the current trends, support & resistance levels, I am planning the following moves:
Target A - Entry @ 54-56 (by midnight 10/22/2017 EST)
Target B - Sell @ 90
Target C - Buy @ 75
Target D - potential resistance and may go sideways for a while (scalping possibilities)
We have going sideways with the past few days, volume decreasing from 800K to low 200K, RSI at 50%, and MACDI neutral. Already a portion of the profit has been taken out and a bit more to be taken out over the next 2 days.
Looking at an entry point between 52-56, or for the more audacious, 48 to 52. Anticipate first entry point tomorrow.
Readjusting to "History Repeating itself" - Why?
1 - The volume is about 4 times the average (we have fuel!) than during consolidation (200K)
2 - RSI is similar to the previous spike in Sept!
3 - Timeframe similar so target of $82 to be reached by 10/17
4 - BTC has more demand (buy) than supply (sell) as storm is passing:...