Think this may retrace but how far is the burning question before halving? bitcoinclock.com
Last chance now she is refueled next stop 0.0307 ~ 0.032 then fast to 0.05!
Its is possible bitcoin has a rest short term before halving so expect small retrace to target area? As always BTC could surprise to the upside in which case 5800 yuan + would be bullish target!
Bought again at daily pivot now going to ride it out until target hit 0.05 +.
I think this has a 50/50 chance of breaking up or down here, so if we break the orange pennant we go up or start to form the second leg of the yellow H&S? RSI & MACD daily does not good for an upside!
Is this the short to long term picture for Ether? I have assumed we will follow the Blue Channel closely to make the famous 0.05+ first target. As Bitcoin has been strong lately, Ether has been hanging in well to the annoyance of the shorter's and so I don't see any reason why this should not continue!
Still bull trend with the target area a significant directional level for short term trend?
Just playing with angles and recent trend lines..... are these are possible outcomes in still a Bullish trend over the coming days and weeks?
I have seen Bullphones for China charts and other scenarios for western charts. Indeed they are different but both are bullish long term... so I maintain a similar target A for the coming days with two possible outcomes. If we decide to top around $630 for awhile then a pullback to B is likely. However, if we maintain the bullish trajectory then we can push onto C ($725)
Well went long at 0.0257 and cut loss at 0.0243. So don't like present trajectory and with the recent strength of Bitcoin best to be short or stay out which is my preference at least until the launch of DAO. Yellow area only obvious target but would not put my house on it all thoughts of 0.05 put on hold for now!
Not sure whether this a five or three wave pattern but as the correction has already touched 61.8%. It is possible it could fully retrace to 100% given the nature of the reversal which would mean a 5 Wave and so the yellow circular buy areas come into play. Whichever way it goes 0.05 is still the bullish target!
Obviously this won't go up in a straight line as shown, so will have some twist and turns but after seeing a fellow charter advocating the breakdown of the Chinese stock markets as a distinct possibility I can only think this would be the likely for Bitcoin and other crypto currencies for example Ether & Litecoin.
Bought in reasonably early to Litecoin after seeing nice rounded bottoms with 50 EMA crossing 100 EMA heading towards 200 EMA therefore possibly good potential on the upside over a period of time. Look for it to break the 0.0093 ~ 0.0094 to confirm.
Decided to clean the decks and give a possible scenario to play out now Bitcoin looks to have turned the corner see quarterly futures!
If the cycle is going to continue I forecast this trajectory but so far as how low is unclear yet?
The Bitcoin uncertainty has had many of us with head in hands at many times in the past few days, but the odds are getting stronger everyday for, dare I say it, the surge to $625 - $630 once we clear $475 & notably $504?
Took some profits when I saw the two Doji. Does not mean it goes as low as this but worst case scenario!