Off the back of the ETF decision delay, and $6800 breaking down sentiment have been ultra bearish, and alts have literally been capitulating. $5800 is such an important support level for Bitcoin. While this support holds we have a very nice bottom area for Bitcoin, and bulls do still have hope, albeit little. While Bitcoin continues to make lower highs it's hard...
How i see this weekly close playing out. Hopeful team bull can pull off this inverse head and shoulders pattern(again), and also break out of this week long downwards chanel. Would target Bitcoin at $6850 if pattern plays out as there is heavy resistance there. Alternatively we breakdown from this chanel's top and head back down towards $5800 support.
Longer outlook opinion. With little hopium left, i honestly see a 5k test coming within a month, with us hovering around that range untill the 30th Sep ETF decision. If denied(which i believe it will be), 3k BTC support to be tested. I will be sure to play some bounces on the way down though. Both of these bitcoin horizontal supports also line up with nice...
After this weeks pump to the $7600 region i do expect us to make a pull back now, or after reaching $8200 max. After this pump i do see low $5000's incoming as a correction, as $5700 BTC support is already beaten up and cannot see it holding again for long. This idea in my opinion will be invalidated if a positive ETF approval for Bitcoin is made.
Bitcoin has a possible inverse head and shoulder pattern forming. The left shoulder and head are already formed, just needs the right shoulder to reach the neckline and then a hopeful breakout with volume.
The biggest problem i foresee for the bulls are the 55EMA and horizontal resistance. Currently the 1D 55EMA is sitting right on the resistance of $6870, this...
It looks like BTC is forming an H&S pattern! we broke the downtrend resistance weeks ago! my target right now is 7.7k to conclude the right shoulder.7.7 k is a really strong support as there is a confluence of resistance and support of 3 different fib level and different time frame. all the targets in this chart as you can see are all confluence of more Fibonacci...
The best entry point to BUY = LONG-TERM
Those who want to buy Ethereum for Bitcoin, better wait for the best entry point!
Below are all my exhibits >>>
There are signals that are relevant to this day!
So enjoy your viewing:
Particularly interesting is the fact that by the end of May 2018, Bitcoin will fall to $ 3000.
But before that, of course it goes...
Reddcoin could have a bright near-future. with constant growth of this new market its only a matter of time Reddcoin follows the footsteps of its fellow alts. Promising news has come out establishing Reddcoin as a player in the marketplace. Anything can change at any time. If we play our cards right we can time some massive profits at the beginning of a bull run!
| Summary |
I'm revisiting one of my previous TA & Market Analysis pieces circa a month later - the BTCUSD 100d MA Bull to Bear Analysis
Charting the bull to bear price action back to 2012, I was able to then create a picture of the market cycles based on the 100d MA acting as support. My rationale behind this was that as markets are cyclical I wanted to gain a...
A nice example of the market buying the rumour and selling the news - XZCBTC had a great run up in 24 hours.
Znodes (XZC Masternodes) were launched at 7:21am UK Time and you can see the spike in price, and the subsequent sell off once the market had adjusted for the news. RSI indicated it was time to cut short and take profit around the same time as the news...
Following hot on the heels of LTCUSD, ETHUSD is having an exuberant run on the price action.
There is a good amount of volume to back up the price action, however, not in the league of LTCUSD.
Support Levels at:
1) ~$535 USD - this aligns with the 0.618 FIB level, and I would expect this to hold in the near term
2) ~$510 - aligning with the 0.786 FIB level -...
We are seeing spectacular price action on LTCUSD with volume to back it.
The current extension reaching ~$400 LTCUSD (Coinbase) appears to be relatively sustainable, given the macro forces at work:
1) Litecoin marketing push
2) The cognitive bias and public perception of Litecoin's price being "cheaper" than BTCUSD, as such, more people are placing buys
With BTC at another ATH (All Time High), the question is - once it hits the magic 10K USD and everyones sell limit orders hit - where are we going next!?
| SUMMARY |
Based on the premise that "previous resistance becomes new support" (Thanks Nicholas Merten - Data Dash), as well as several other data points, we can carry out analysis as follows:
1) The last...
Just zooming in here for a 1hour candle view to acompany my previous 4H chart.
We can see the pressure is on for a break out in a direction. Mixed feelings on direction from just this chart but I would lean on Long due to my other chart.
However we should wait for a volume spike to show the direction. Remeber wait for the candle to close.
Comments Artur Azizov, the B2Broker CEO
Bitcoin did it again. On Saturday, August,5, it refreshed the historic high surging to $3,300 from around $2,800 the day before. It added almost 18% in value, and may definitely keep going. The current surge of Bitcoin has increased the market capitalization to more than $50 bln — $51,737,289,581.
We need to say the first...