A touch of 280 would probably make the point E, and so reverse the long corrective phase of BTC.
Market is forming a bear flag at the lows after yesterday's drop. How do you know that this is a flag? Read this bull flag post I wrote. www.ibankbitcoins.com To summarize: 1. Prices overlaps between high and lows. 2. Volatility and volume drops . Take a look on the hourly, we are at the lows. For the bulls, this could be a double bottom. Generally speaking,...
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Market is at the new lows, forming what looks like a descending triangle. Naturally this is bearish which is true for any consolidation at new lows. For the bull argument, we are barely below the previous low. What I am trying to say is that this zone is where a large number of long’s stops are at. Take a look at the past few times when market made new lows, the...
Huobi is in the middle of a downtrend channel at the moment. The candlesticks seems to show a rejection from the upper channel, so if the bulls don't do their move it's possible one more leg down or simply sideways. A first psicological level that i draw some days ago is the round number 2300 that we hit in this downtrend and that is acting as a support. Now i...
Short-term trend is up. A 10% reversal off of a double bottom is a good indicator. Looking at the 4 hour chart, we are likely to retest previous lows and downward trendline. In addition, the double bottom that was formed also points to this area; a lot of confluence. Hence I think it is likely we are going to retest it at some point. Now, that does not mean the...
More market consolidation. On the hourly timeframe, we are bouncing between the two trendlines. The buying pressure is getting slightly higher at this juncture since we have made higher lows. However, the big downtrend suggests that this could be a bear flag. I've made a post about trading flags before if you are interested. In addition, we have retested this...
Market is consolidating at 400 USD, any attempt of a bounce was sold off pretty fast in the last three days. I was very short term bullish, intermediate term bearish. Will be shorting at these levels. In addition, the chart pattern looks like a flag/penant formation at the lows. I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading...
Bitcoin market price has been very choppy this weekend. There is no trend, no predictable price movement except for the fact that price tends to get stuck at 400USD/2450CNY. Looking at the 4 hour chart, we are inside of a consolidation/bear flag like pattern. If we do bounce from here, that the arrow is the likely target. Notice the last bounce touched the 50%...
Market has sold off sharply since two days ago. We are very oversold and a small bottom is forming. In the past, any bull's attempt to form a bottom was sold off such as a fake head and shoulder along with other W like patterns. Taking a look at the weekly chart, major support areas are at 400. Multiple crashes (strong ones) bounced here. I expect at least a...
I would like to find an explanation of this long divergence that we see with the Momentum and MACD, RSI is not visible. Divergence he starts from 23/12/2013 to today. same thing happened on 18.04.2013 ended on 17/11/2013 Same identical pattern made exception of the MACD which has not recorded the divergence.
This update will have 2 parts, first is the market update, and second is about analysis of my recent trade and mistakes. BITCOIN MARKET UPDATE: Since yesterday, market has been sliding lower with above average volume, but the volume is much lower than the first wave down. As I speak, we are retesting the lows of the previous low. However, this time, price has...
Market is starting to slip a little but still in consolidation. Looking at the hourly chart, there is no trend, there is hardly any trading opportunities for trend followers like me. If you are the trend reversal type of trader, this is it. I see many successful stories of buy at support sell at resistance. I on the other hand is holding long, and watching the...
Market is in consolidation still between the two horizontal resistance on the 1hr bitcoin chart. We hit the high and then we retested the low. Last night, there was a huge sell-off of a single market order of 2000+ btc coins bring prices of all exchange down 2% or more. However, by this morning, we are at pre-crash levels. If this was a market order during the...
Market since earlier this week is still in chop phase, no clear indication of trend or direction. Bitcoin price is bouncing between the two blue support/resistance line. As you know, I've went long yesterday at a sub-optimal price from today's hindsight; not too concerning since my trade's time frame is much greater. There is nothing much to talk about in terms...
the last 3 month the daily RSI are in a descend channel, we are in the end of the trend?, or the confirmation of the new downtrend?
Going long at these levels, not the best entry. To continue on from yesterday's bitcoin market update, I think the risk reward ratio here is very good. We've retested the 460 resistance multiple times but we are not breaking it. In addition, if we have more sell-off, alt-coins should be collapsing because they are laggers. However, Litecoin held up so well. I had...
Market has been very choppy for the last few days, we had a lot bitcoin related news such as Paypal and Apple pay. Looking at the bitcoin charts on the hourly, we can see that bitcoin is inside or now outside of the channel. www.ibankbitcoins.com On Bitstamp, large players, aka whales, are clearly adjusting positions. You can see large market orders of 1000 BTC...