There's no TA or fundamental analysis here, just a sexy chart with a couple of S curve's thrown in.
But you've got to admit that when plotted on a chart, $1M bitcoin before the end of 2021 doesn't look quite as ridiculous as it sounds, does it?
I'm less concerned with whether we've bottomed and more concerned about when the next cycle peak will be and what price will be reached.
By looking at the ratio between previous cycle peaks in terms of time and price and then projecting those ratios forward, I expect the next cycle peak to occur around June 2024 at around $152k.
I'd better get accumulating!!
I am currently looking at the fundamentals of this project, but haven't completed my research at this stage. I wanted to get this idea out there though, because price is currently at a critical point that has in the past, acted as a spring to a 100% gain.
Volume is looking good too, so I'm going to set some buy orders at 43,42, 41 sats and see how this trade...
I've opened a long position.
Because it seems we're in the midst of a little alt-season and SC has yet to pump.
Volume is building at what has become the local bottom
Easy risk management: stop place just below recent lows.
The chart looks like it could be forming a cup and handle. If we are the top of the cup would be about 80 sats, so a nice 10%...
I'm going long on $RVN. Fundamentally, it strikes me as a good project. Psychologically, I'm gutted that I missed out on a trade recommendation earlier this year, so want to make something on it before the year is out!
Looking at the 4 hour chart:
Price is above and looks to have found support on the 13EMA
Clearly defined risk with stop set just below recent...
I'm back again with another perilous knife-catch attempt. My last few trades have either turned the smallest of profits or a very slight loss as I'm running some tight stops with these trades given market conditions.
Digibyte is now back at a key support level, having made a steep decline today and I would love to see a nice bounce from here. A surge to around...
Look at that volume coming in at the end of that last plummet. To me that suggests a reversal and because of the limited risk in terms of a nice clearly defined stop, I'm going long. Let's see what happens!!
OK, I know that an ascending triangle is not a common reversal pattern and that I'm possibly clutching at straws trying to make a quick buck in this savage bear market, but what the hell! I'm going long with a tight stop and modest profit target of approximately 10% which will take the price to a previous congestion area. Let's see how this unfolds!!
The price looks to be consolidating in a choppy symmetrical triangle, which are considered to be continuation patterns.
Volume has been diminishing during this period of consolidation, so there is no sign of a reversal in my opinion and no impulsive moves to the upside.
WARNING: every time I trade based upon my reasonable expectation that a triangle will continue...
Are we near capitulation?
Now that the long term market structure has broken, along with my dreams of retiring next year, the next question is how long will this hell go on for?
Given how long that price consolidated in the descending triangle, I think it's reasonable to assume that we are in the midst of a sharp move that will take us to a capitulation event...
I'm eyeing up a long entry on coffee. I'll look at trading this through the 3CFL ETF. If the trade goes as envisaged and hits my wave 3 target, it could yield 100% profit thanks to the leveraged ETF.
Disclaimer: This is not financial advice. Do not follow my trades. Do your own analysis, make your own trading plans. I am not an Elliot Wave analyst and only use...
Despite all the bearish news around tech stocks and increasing chatter speculating on a wider US market crash, the chart for the Nas could be printing an inverted head and shoulders pattern, which would complete nicely to set the market up for a Santa rally through top December.
I'm not currently trading this, but will keep watching and may get interested if the...
Fib time analysis has captured beautifully recent swing highs/lows, suggesting 20th March to be a key date.
If we re-enter the downward channel from ATH, this will be extremely bearish.
The Mt Gox trustee has only sold 35k of 166k BTC he holds - so further dumps WILL happen - we just don't know when. This fact alone, once widely understood, could cause the price...
A potentially nice bear flag is setting up on the #BTC 4 hour chart.
Stoch RSI indicator is approaching overbought levels.
Using the length of the flagpole, we get a target of $8571...
... but I think the 50% fib retracement level of $8,868 from the recent bottom tot he recent high may well act as support as it previously held as resistance on two instances...
OK, I know that my previous chart idea has been invalidated by Bitcoin's rally, but part of me is still suspicious that an almighty bull trap may be ahead of us. Why do I think this?
Wave 3 on my chart seems to fit in with EW theory insofar as volume is high and it is the longest of the waves.
My target for Wave 4 is a 61.8% retrace of Wave 3 on a projected fib...