Corrected chart due to measurement tool inability to display
Possible price and time projection if the pattern stays similar to 2017.
I'm always asked when is the right time to buy or sell bitcoin. One easy way to determine entries and exits is by using Parabolic SAR in combination with the CCI. Any time a candle reaches a Parabolic SAR dot it's decision time. Pullbacks to the CCI mid or zero line in an uptrend is usually a good entry target. Another heads up is when the Parabolic SAR dots...
Using the fibonacci for short term support. Note how price is range bound in the 23.6% zone. Any break should take it it to the 50% fib which would be another decent short term entry with stops just underneath. My thinking is we are still headed higher to the 9030 then 9750 resistance levels in the short term.
Ravencoin is moving in direct correlation with bitcoin, which makes sense as it's commonly dubbed the bitcoin 3.0 coin. CCI/StochRSI system caused 2 sell triggers to be hit but these are partial scaling sells only. If bitcoin trends higher to resistance at 9030 then 9750 I'd expect Raven to trend higher in concert with it.
Triangle break on decent volume for a weekend. Upside targets are 9030 then 9750. Support becomes the breakout point of the triangle at 8094. Directional indicator says it has room to run but CCI is topped out so look for volatile action on the way up.
The triangle will break soon, most likely to the upside. My target is 9750 but if we break down I have listed probable support areas for the short term.
Pure speculation play on MATIC as it touches the triangle support line. Like the ADX line in this position as well.
The set up for another leg higher is looking good here. Note the ADX line (blue line) on the directional indicator. You want to see that at a low level and ideally below both the DI- and the DI+ lines. This indicates a calm trading time as opposed to an overheated situation when the blue ADX line is high above both DI lines (as it was around the previous top on...
Looks like the fib 50% did indeed turn out to be another great buying op. The parabolic SAR has also signaled the short term reversal to a bullish trend. Resistance at 8300 looms.
Respecting my tweaked parabolic SAR settings for a heads up on re-entry. This could be a great "buy the dip" scaling opportunity as price hovers near the 50% fib retracement level. With the recent momentum I find it hard to believe that price falls all the way to the 61.8% level at 6550 but eyes remain focused on the 4 hour chart for directional clues. Note...
Currently breaking resistance at 8300. Next resistance at 9758.
Target scale buys on any pullback. First support is at lower STARC band, second support at the fib 38.2% level, and 3rd support at the 50% fib level.
According to the VPVR near term resistance can be found at 5963 with stronger resistance at 6240. There is not much previous price action between here and there so odds favor a push to those levels. Keep an eye on the RSI support line for a heads up on the strength of the current trend. Consider setting stops on a break of the RSI support line.
Took profit on the STARC band/Stoch RSI sell signals 25% sells on each. Will re-enter on a STARC band/Stoch RSI buy signal.
BAT printing some STARC band sells which I have initiated but I'm keeping a close eye on .345 for a rising triangle break.