So far I have been convinced whole move that started in 2016 is wave 5. As 5th waves are usually weaker than previous 3rd waves I have been cautions last two years.
However currently I'm beginning to think the move could be wave 3. Following are few symptoms this could be 3rd wave:
- media writing and talking about bitcoin but almost all of them dismissing it as...
Today's decline stopped around 23% retracement of bull run on BITSTAMP:BTCUSD from $1830 to $4979. It is likely this was just temporary bottom and BITSTAMP:BTCUSD will go lower later.
Higher probability targets where correction can end are $3800 which also coincides with bottom of correction we witnessed during August and $3400 that would be around 50%...
LTC experienced 16 months of falling prices at btc-e. Then there was period of ups and downs with lowering magnitude. Eventually it settled between $3-$4 price range and stayed there for another 16 months.
Today it seems we have final breakout from this long consolidation. IF this is true the move can be massive.
Looking at bull market which started in 2015 we can see five yellow rectangles. These rectangles show situation when weekly candle went above upper Bollinger band meaning market went too far. In every case there was long green weekly candle followed by red one. Red candles almost always completely retraced green ones, indicating quick decision of market...
Both Monero and DASH are currencies with focus on privacy. Looking at Monero's chart one can see period of sideways movement which took about 2 years between Jun 2014th and Sept 2016th. Comparing this with DASH's chart one can say DASH is still within similar sideways trend.
I am wondering if DASH is going to break out to the upside in the future.
Bulls stopped their run at pretty bad levels 450-460. This means triple top has formed. Yesterday bears awakened from their sleep and caused bulls to run away. However looking at long positions at bitfinex only 5% of longs were closed which means there is lot of potential for more drops to come. Also short positions are close to its lowest readings which confirms...
ETH went much higher than I originally expected. However since 2016-03-13 price is showing corrective action. It is likely we are going to see bit more upside before final leg down which will probably at least re-visit bottom of wave A which happened at $8.
Ethereum has just reached 61% retracement of move from $2 till $6.30 and seems bulls are slowly taking control here. If this level holds we will see some move upwards. It will be important to see if this potential move upwards breaks above $4.50-$4.60 where another Fibonacci level is located. Stronger move to the upside can signal current correction is finished...
20160111 It seems BTC is heading lower this week. There
are three variants now:
- most optimistic where BTC holds above $400
- optimistic where BTC stays above $300-280
- pessimistic in which it breaks down lower
Both optimistic variants should lead to further advances
in the future. While pessimistic variant will lead to
falls below $200.
It has been almost 4 months now since BTC started moving upwards. We have not witnessed bigger correction since end of September. Therefore some kind of correction would be welcome at current place and time. One can see some weakness on daily chart where RSI is likely to form negative divergence. Also volume on all "western" exchanges has been lower recently...
This is the most pessimistic scenario I can think of right now. If bitcoin is not going to appreciate any longer it is possible we have just finished wave B of huge zigzag which started in Nov 2013.
First leg of this zigzag was equal to about $1000 which is 86%. Wave B (if it has just finished) stopped in the region of iv subwave within A. This is very...
20151117 BTC has reached support area in the region of $300-310. there is several possibilities currently:
- variant 1 (violet / probability 45%) - breach to the downside which will probably conclude close to $250-260. this variant brings negative medium term consequences (more weakness to follow after correction to the upside)
- other variants (probability 55%)...