Here's a fun one.
With Bitcoin making a strong move up from the $370's into the $438 area yesterday, it looks like we're gearing up for a big move up to retest $489 and eventually $600. If the bullish structure of $BTC remains intact, we could see this move take us from "Disbelief" to "Hope" phase sometime in April-May 2016.
Keep in mind that halving is slated ...
Following up from my tweet on 10th Feb 2016 about $BTCUSD:
"Bitcoin looks like it's about to break out this week. #drumrollplease"
Bitcoin has broken up from its short-term consolidation zone as shown in the pink triangle on the right. Although heavy volume candles have not shown themselves in ...
If you are familiar with this image, you'll understand very well that market crash cycles can be found in every corner of the market. With the only similarity between all markets being the human beings behind the money (price), it would be sensible to think that the psychology & emotions behind these ...
$BTCUSD has broken major resistance of $318, giving a short-term uptrend confirmation. This move will have legs, considering the year-long accumulation prior to this rise.
Read more about my overview of the price action in 2015 on my blog post here: 2016 Horizon The "Pre-Halving" Pump (and Dump)
Over the last 5 days, we broke above $308 and made a high of ...
300 is a key level of resistance now as we're heading to test it for the 4th time after the low on 14th January 2015.
$BTCUSD currently trading $273 since breaking out from $240 12 days ago. On Oct 6 it traded between $240 and $243 for less than a day before breaking up with good volume. twitter.com
Breached $267 ...
$BTC has recently broken its 18-month downtrend, and looks poised to re-test the 300 level again. Excited to see how bitcoin bulls will execute their first assault since the trend reversal. Are the bears still in control or will the bulls finally be able to push through?
I highlight 3 possible scenarios as we head towards this crucial resistance point.
The $683 - $618 candle shows the highest volume bar since the rise beginning from $440. Could this be signs of a reversal?
However, let the charts speak for itself. Allow the current shockwave to play out, and look for a break in structure, and increased market participation. Keep a close eye on the charts.
Scalp opportunity on the next breakout's shockwave.
With the recent breakout from $440, the downtrend established since the 6th of Feb 2014 on the daily timeframe has reversed, forming a new uptrend on the 21st of May 2014.
However, the long term chart from April 2013 to now still shows a bearish structure with the possibility of establishing lower lows. The $625 to $650 & $700 level will be crucial resistance ...
Update on yesterday's chart:
Betting the Support? Here's your chance.
Alternatively, buy the breakout with high volume. (Watch the $506 closely on BTC-e)
Bearish trend on the higher time frame has broken, but bullish trend has not been establish. Tread with caution.
Watch the lower time frame charts i.e. 15m 5m 3m 1m for the break out.
Buy the breakout, or take the bet from the next retrace to support. Target: $530-545 for Finex.
Also, watch BTC-e price closely for the 506 break.
Ascending Triangle. Looking for another breakout upwards for a Short Entry.
Overall market is still Bearish, although the turning point seems to be coming soon. $380-400 seems to be a really strong support for now, provided no new detrimental news comes up to change that.
Will be shorting from ~$470, and looking to close @ $420 down to $405.
How low can we go?
Looks like a small breakout ahead. Either a spike to 475 for a short entry, or a spike down to 425.
But I won't be taking a long from 425. Looking to accumulate long positions from $405, $360 or lower. If there's a pop downwards from $400, things may get messy, but my guess is that it'll also not last for very long.
If we get to ~475 from this triangle, I'll be ...
Will this $400 Triple-Bottom Break?
There's going to be very strong support at $400, but if that breaks, we could see a big panic all the way down to $360 $266. IMO highly unlikely, unless triggered by negative high impact news.
I'm going to start accumulating some Long positions from $440 down to $400.
So many coins, so little time. Haven't charted for awhile, but here's a few lines I drew yesterday.
Spike up to $750/800 will be short lived. We are still bearish for one more retest of $400 support in the near future.