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I am not actually in a short position as I really dislike shorting bitcoin at times like this.
It is a risky maneuver especially since Bitcoin often rallies hard to the surprise of many.
I have just sold all my Bitcoin holdings which I have held since earlier this year.
2017 has been an amazing rally for Bitcoin with almost 100x growth.
With the opening ...
Hello all, the fractals are getting pretty intense!
The speed is incredible now, we have a repeating fractal on the 15min TF.
See my related 4H TF fractal idea, which confirmed just a few days after I closed my trade ^^;
It seems like the only strategy now is to Buy & Hold.
There are only 2 major entities in the market now: Bots & Long term investors.
Majority of ...
It appears that a pattern is emerging in the corrective cycles of Bitcoin.
The magnitude of the highs and lows align almost completely, except at a much faster speed than before.
Following projections from the bar pattern of the rally from 3,000 - 5,000 - 3,000 - 6,000, we can guess that this cycle will be 5,500 - 8,000 - 5,500 - ...
Clearest major double bottom on BTC in a long time.
Fundamentals for Reversal: The sharp drop was largely caused by fear and uncertainty due to Segwit2x Hard Fork cancellation and BCH shilling. However we have already corrected to prices before the hype of the hard fork even began. meanwhile, the massive sell-off of BCH 2 days ago has made it rather clear that ...
Long Entry: From 6000 USD and above
Target 1: 6400
Target 2: around 6900
Can go higher.
Fundamental: Short term uncertainty, misinformation, and panic over future of BTC due to sudden cancellation of Segwit2X and the large volatility that followed.
Technical: BTCUSD has been severely overbought on larger timeframes for some time now, and yesterday's volatility introduced uncertainty among many newcomers. Not accounting for the short spike that made a ...
Fundamental: Everyone wants BTC before fork to get B2X, price should technically continue to rise. Everyone and their dog is margin long. Price should drop sharp post fork once people collecting B2X close their margin long positions.
Technical: BTC broke the channel top, the next clear limit is the 2.6 fibonacci retracement from the 2.9k bottom, at 8.4k. However, ...
1. Going on a hunch here that the true wave reversal occurred at the second bear rejection.
2. This puts us on Wave 3, which I suspect has not topped yet.
3. We may say a cup and handle form on quarts before breaking 5,000
4. Followed by retest of trend line during a choppy Wave 4
5. Finally arriving at the true ATH near 6,000 before another corrective wave.
The drop from the top near 5,000USD has followed relatively distinct downward Elliot Waves on the 4-hour timeframe - including a characteristically indecisive Wave 4.
It is clear now that we have entered into Wave 5, and it is often said that wave 5 can be the longest.
Despite strong support around 3,800USD, a bearish pattern appears to have already formed before ...