Yes we know there has been a lot of blood spilt today, but the easy option for a TA is to perpetuate and copy everyone else. I am going to go out on a limb and call the bottom of the 5th wave down and end of the bear cycle. There is nothing I can really pinpoint as to why it should keep dropping apart from the FUD being spread around to create hysteria. The head...
$BTC was going sideways at $7800 for a while then dramatically dropped nearly $300 down to the mid $7500, This is the fight of the week between the bulls who are looking to hold important support lines and the bears who want to see those important support lines busted to further confirm lower downturns. Apart from the dump that saw it fall $300 BTC has stabilised...
BTC First let me start by saying that some dire warnings made by so called experts are just nonsense and there is nothing technically that should warrant doomsday predictions. Yes the market is downtrending and coming up to some critical levels but they are normal cycles. BTC is a pure fintech product dynamically existing in the market. The 5 wave count up to...
BTC We are looking at a Wave 2 ABC correction made of a 5-3-5 subwaves. Also a descending triangle has formed and once exhausted will most likely uptrend into a primary wave 3. The C wave trend based Fib has a 1:1 of wave A hitting the $8100 and further support at $8000. The RSI is showing start to exhibit oversold conditions and bullish divergence pattern...
Although it has fallen back through the yellow support line BTC trajectory is still on course. We are in wave 3 from the $7200 which should get to $10k. Wave 3 is made of 5 subwaves as I have shown in white and the small correction was wave 2/5. It should follow the white lines in 5 subwaves up. Should the candles breach the major red line below then we consider...
A major resistance at around $8800 must be broken on the 4hr to add to the bullish momentum on the way up to the next resistance at the $9200 mark. The support line it is sitting on at the moment is a long established critical area and if it falls below then short position must be considered.
After two impulse events coinciding with the opening of American markets the previous two days, last night failed to repeat. The market is somewhat subdued and is in a holding pattern fluctuating barely $100 for the last 24 hrs. This may be in part to the wait and see approach from the bulls and the strong resistance from the MA 50 and MA 200 directly over the...
BTC is on the move breaking through the $9000 mark. It is in wave 3 which is typically the most potent and should hit $9200 before finding critical resistance. If there is a breakout over this mark it on the higher time frames it will confirm a reversal of the bear market in general. Expect wave 3 to extend to at least 1:1 on the fib extension and possibly...
BTC is in wave 5 of the ABC correction and should bottom out somewhere between $7500 -7200. Once the 5th wave of of the 5 wave of the C wave is complete it should bounce and begin Wave 1 of the new cycle. Wave 1 is expected to hit $8000-$8200 before Wave 2 retracement back to $7700. We saw how important the news effects the price the last couple of weeks. The next...
North American and European markets have helped tentative reversal through the $9200 previous support with good momentum. BTC is now back over the long term support line in yellow and trying to get back to the 55 EMA and the 0.618 fib extension which is the point at which I would call a short term bull victory. Volumes are also starting to climb as is the RSI ...
The massive drop in BTC /USD saw a fall of $1000 very quickly today. The analyst's who have short positions are screaming I told you so. Hold your horses. The drop today was not foreseen or calculated using the technical data using charts but was a direct result of a massive 400 million being dropped by the liquidation administrators of the Mt Gox investigation....