I accidentally posted today's short-term price update elsewhere (see chart below). The current wave count and levels are drawn on this chart. Keep track of the pitchfork, as it defines the trend. As long as the price stays within it, there is no clear sell signal.
Previous chart:
The "Alternative wave count" from my previous update has become viable. The A-B-C structure of the last swing down suggests the price should make another high before attempting a deeper correction. At the same time, currect pullback may be more complex with prices moving down to $1640 area. Important price levels and suport/resistance zones are drawn on the chart.
My last update contained a short-term Triangle pattern setup with target area 1670-1689. The strategy I suggested was going long just above Wave D of Triangle with a stop-loss near Wave E bottom.
Everything went quite smoothly with prices breaking to $1720-s highs. Now it's time to switch to a longer-term chart and assess the trend pattern. According to my wave...
The rise in Bitcoin prices has been outstanding. My analysis shows an important resistance @1480, which was tested today and caused a pullback. My view is that opening new longs in this area is inefficient. I'd rather wait for a more substantial retreat before re-entering the trend.
Since the LTC/BTC ratio broke below .004, the accumulation / distribution indicator has been rising (on Poloniex). For the last 40 days, traders have been acquiring Litecoin. Today, over 1.6mm+ LTC were bought on Okcoin, which is an unusually large amount of coin. Buy volume is increasing and sell volume has decreased.
I am bullish.
In the event you are unaware: www.theverge.com
How much havoc can a pair of twins create in their lifetime? First they unleashed Zuckerberg on the world, got pissy about it, and now this. Then there is the SEC trying to protect us from ourselves. What right do they have to even pass judgement?
The answers lay somewhere in the "Panic Zone". (channelling Rod...
Hello Traders,
If you followed my previous Bitcoin Chart you saw the two high probability targets get hit.
Just as the model is able to provide price targets, it is also able to tell us where it will go after the bull run is over.
The main indicator of a move down is the Wolfe Wave highlighted in this chart. Combining this with the proprietary forecasting...
New all time highs and gold parity. I want to give my hottie a new BTC chain necklace so I went to the local artisan. They said wat? The best that I could do was pay for a new gold chain in BTC. So is BTC as good as gold?
I wanted to get this latest version of the weekly chart out on display to make some comments. There is no evidence to suggest this...
Monthly Candles Along with StochRSI, Stochastics, RSI are Signaling Down, So My Bet is on Going Down
Following Points are My Targets for Buying Back *Only* if They Provide Convincing Volume:
650 , 450 , 150
Hi everyone!
By now you might be wondering why I am using BTC-e for my charts. I believe BTC-e is somehow filtering the noise and can be used both as an indicator and for technical analysis. www.tradingview.com This is a chart I usually show people so that they can understand what I am talking about.
After breaking the 900$ level and now the 920$ in other...
The number 8 has always been of great significance for China, and for that reason, I believe we may see values as large as 88888CNY, in the not so distant future.
The manipulation that continuously occurs. has allowed consecutive 8's, to become either a final flash of support or resistance. A milestone, followed by a swift return to the median. Thus far, both...
