The Golden Cross in Bitcoin has only occurred a few times in the past few years. Sometimes it's a false signal. I believe this is a real signal where the 50 dma crosses over the 200 dma. It's a real signal if Bitcoin provides support in the months to come at the 20 week moving average. It did this throughout the 2016-17 bull market. Will it do it again? Time...
$35.88 was the probable 6 month correction bottom on Dec 18th. A 5 wave move up to $44.02 followed followed by a retrace to a double tweezer bottom at $38.74. The $44.02 previous high was surpassed today so this looks like subwave (3). This wave if it goes to a 1.618 Fib extension, could arrive at $51.95. A 0.618 Fib retrace would take LTC back to $44,...
The hash ribbons is a recent bullish indicator on when to buy Bitcoin and Litecoin. Go to trading view, go to "indicators", and type in "hash ribbons". Add it to your charts and you will see the buy signals. They are few, but if followed have been, and probably will be lucrative for the long term patient HODL'er. On the BLX weekly chart you will see you could...
In 2015 after the 2014 bear market, Litecoin bottomed and rose into the LTC halving going from $1 to $9. In 2016 Litecoin stayed primarily in a $3 to $5 range before breaking out in 2017 and reaching $370 by the end of 2017. LTC then went into another bear market in 2018, bottoming at $22 in Dec 2018. It rose again going into the LTC halving reaching $146 in...
This is my current take on Bitcoin's WXYXZ correction since June. I think this is the sub wave (5) of the Z leg now. I'm expecting a move to $6000 to $6300 where the market should find support.
When the downward sloping trendlines since 2017 are broken to the upside in the BCH/BTC pair are broken, that might be places to add some exposure to BCH. Also when BTC holds its 20 wma now about $9300 as support, this will be one sign that BTC is in a new bull cycle that will hold until it reaches a new ATH and top in this cycle. Also some alts outperformed BTC...
See the BLX long term chart. There is a pattern. There are three symmetrical triangles or bullish pennants in 2010-11 then a ladder up to the $32 peak, then a chute down (bear market). Then in 2011-13 once again three symmetrical triangles or bullish pennants, then a ladder up to the $1177 Nov 2013 peak, then a chute down (bear market). Then in 2015-17...
The last few days an ascending triangle has formed in Bitcoin. It broke to the upside this morning as expected. Looking for the $10700 area to provide support now.
I've showen the LTC monthly chart. You can see LTC followed a sideways range between $3 to $5 post halving in 2015 for about a year and a half and then broke out in March 2017 and skyrocketed from $4 to $370 in nine months. What if this happened again? What prices could we expect going forward in time? I wrote down the lows and highs of LTC from April 2015...
I've plotted the Elliot Wave count for this ABC correction since June 26th. I think we are now in minuet wave (5) of subwave (5) of wave C. The 0.618 to 0.65 Fib extension of minuet waves (2), (3), and (4) points to a $9500 low for the end of Wave C. The 0.786 Fib extension points to $9400 and the 1.000 Fib extension points to $9200. I've drawn a rectangle...
I've been looking at the BLX (Brave New Liquid Coin Index for Bitcoin) monthly chart. I've noticed Aug 2015 to Jan 2016 candles look similar to what's happened from March to August of this year. There was a LTC pre-halvening runup followed by a consoldation. The last three months the lows and highs for the month look like Nov 2015 to Jan 2016 only the lows...
Notice in 2013 LTC went from under a dollar to tens of dollars ($50 approximate high) in a few months. Then in 2017 LTC went from about $4 to $370 in few months. I've drawn the long term trendlines on the chart showing support and resistance for LTC from 2013 until now. Almost all price action has remained within these trendlines. Notice there was a run up...
Look at this BLX weekly chart. MM Crypto today pointed out this indicator. On 11/30/13 when the BLX topped at $1177, the 200 wma then was $31.90 (extended backwards a few weeks as Chris from MM Crypto suggested). That was the previous ATH price on 6/6/11. It happened again at the 12/17/17 $19764 top. The 200 wma that day was about $1209, above the $1177...
You can see the W's in the weekly GBTC chart. A triple bottom in the $12 area describes this W patterning action. The ABC correction is likely complete. The move up off $12 has likely started. "The market often gives 2 or 3 bottoms, but it rarely gives 4 or 5". Davinci Jeremie
The Litecoin weekly chart has had two times when the Gaussian Distribution channel has turned from red to green. On 2/29/16 it turned green and the LTC price was $3.18. LTC went up for the next 22 months to $370.78, a 116.6 fold gain. Recently the channel has turned green again. If we take yesterday's low price at $71.15 and assume this next move will move...
The Gaussian distribution channel for Bitcoin on the weekly chart has determined when Bitcoin has entered a strong bull market and never looked back. Two times in the past BTC's Gaussian distribution channel changed from red to green. On 8/20/12, the channel changed from red to green. That $10.56 BTC price was the low for the next 15 months as BTC shot up to...
The LTC:BTC ratio peaked all time high was Nov 2013 at 0.05299 which coincided with that bull market peak. In the ensuing bear market ABC correction, the LTC:BTC ratio fell to 0.00070 in Aug 2016. The bull market in BTC and LTC then really got going with LTC outperforming BTC. The LTC:BTC ratio rose to 0.0250 in Feb 2018. A bear market in the ratio has been...
I have the weekly ETH:BTC chart here since 2015. In the last bull market ETH outperformed BTC from late 2015 to mid 2017 as the ratio rose from 0.00137 to 0.15297. I have shown what I think that 12345 impulse wave looked like. From mid 2017 to now, the ETH:BTC ratio has been in a bear market. I have shown the ABC projected pattern with a C wave ending probably...