IbbyBenali

IbbyBenali

Most likely there will be a small bounce against the area 8500-9000 which could take us down to 7000. Then, I expect it to go up again and complete an inverse H&S. We will then test the 8500-9000 area again. I expect and think that there is more than enough force to break through and take us to 11532 afterwards due to the huge double bottom that seems to be forming.

IbbyBenali

Please see previous descriptions of my charts, nothing new to add except for that I do expect an inverse head & shoulder formation. See the Stoch RSI crossover on 12-hour chart. We are not done with the trip up yet though according to the 2-day chart's indicators.

IbbyBenali Updated 

"Let's take a look at what is happening on the market today. Did I get it right? Well - I don't know yet ;). What I do know is that there were some indicators that were overlooked, so I want to discuss those today. Please note that I am a beginner and I am learning. DEFINITELY NOT INVESTMENT ADVICE. If you spot any technical mistakes, I would be happy to hear...

IbbyBenali

So far so good, but we need a little extra push up. Also, we need a crossover on the Stoch RSI. I think bitcoin might still be a bit frugal due to the expectation that the death cross will drag it down a lot. As I explained in my previous post, I feel like the deathcross might not be as bad as you would expect seeing the context of bitcoin and how the prices of...

IbbyBenali

Seems like BTC is not the only one approaching a "death cross".

IbbyBenali

I hope we can keep the trend going :) So far so good... Looks like we have a chance to get a bullish candle today to continue a trend upward. However, if we will not get this candle, watch out! This is not a moment to go long yet, and definitely not a moment to short yet either. Stay on the sidelines. The lower volume in the latest right bottom compared to the...

IbbyBenali Updated 

Drama in Bitcoin land! But could it be not so bad after all? Perhaps. Disclaimer: I am not an expert, this is not investment advice, it is just an idea. No I am not a perma bull, I actually thought at first we will crash super hard. This chart made me doubt this. I decided to have a look at the 2-day chart to see if I would pick up some other signals there......

IbbyBenali

Possible further decline due to the evening doji star setup and the MACD cross. Could be affected by Trump - Lockheed Martin related news.

IbbyBenali Updated 

I know some people hate 15-minute time frame charts, but for situations as this one I love to use them because they can really tell you throughout the day what might occur next. So yesterday I was a bit zig-zaggy about my trade. I cancelled it, then reconsidered, and then did it anyway. As I said "I eventually took the risk anyway at $9150 to short BTC and took...

IbbyBenali Updated 

I previously wrote about the double tops on BTC . As you can see on the 1-hour chart for BTCUSD , it has tested the 0.618 line but up until now it failed to break through. It has actually tested this line by forming a potential mini head and shoulders pattern (you might need to zoom-in a little for that one). Whilst a small one like this does not mean something...

IbbyBenali

Bitcoin has formed a double top on the 4-hour chart, indicating a bearish trend. Furthermore, the price action has moved under the 50 EMA and 200 EMA once again. It also broke the support at 0.618. Look out for the following signals to further confirm the downtrend: - Williams %R starting to move to the 0 - 25 area. - A further downtrend continuation below the...

IbbyBenali

I am waiting for the right time to buy NEO before it hits the bull run. It is currently still in a bearish trend and it gives us two signs for it too. Even three if you want to count the ABCD area as a double top! So first of all, the H&S pattern already demonstrated a decline in value to us, as it dropped from 172 dollars to 97 dollars at its lowest. Even...

IbbyBenali

In the previous analysis, I took a closeup look at what seemed to be a wrestling match in the day traders area. Whilst usually a change in the intraday is not per se predicting, for coins like Bitcoin it could mean a lot. Either way... it did not complete its hidden double tops so taking a "birds-eye view" again (well... relatively speaking for Bitcoin) we can...

IbbyBenali

Big Boy Bitcoin sure loves the doubles these days. A double top might be forming for Bitcoin. Keep an eye on it. If the pattern follows the contour of the circle and breaks through the red line, it could drop again to 6884 EUR or 8580 USD.