papjohn24

papjohn24

Based on my previous post we have reached the 10k ascending triangle target and we may see a retracement or consolidation period in the coming days before we head higher to the 11.5k-12k level. At this point we see a doji forming after an increase in volume as mentioned in my previous post. The previous post is the following: Moreover in the 4hour chart we...

papjohn24 Updated 

Looking at the daily chart we see that at 6000 it was the third low. Assuming a 1-5 impulse wave we should expect an A-C correction wave. The end of this expected correction wave may end up within wave 4 (~9500-~12000). This aligns with the fact that this was the first time the RSI gave an oversold signal when the price reached 6000. Looking at the MACD each of...

papjohn24

Looking at the weekly chart starting from 2015-08-17 we see that the 0.618 fib retracement target is at around 7700 usd. But, why start at 2015-08-17? Well if we look at the bigger picture in log scale we see that this is probably the end of a major correction and perhaps the end of a cycle. So i guess this is a new starting point. Of course the low of 162 usd...

papjohn24 Updated 

Weak buy signal on 30' ADX and possible trend reversal. Waiting for further confirmation.