Bitcoin failed to bounce off its lower trendline as convincingly as the bulls might have liked. It looks like it might be coming around for another pass so I've sketched some possible outcomes for it: 1. The upper trendline of the falling wedge is broken and the price shoots up in the short term before continuing to progress to the mid-term upper trendline. The...
I thought I'd take a moment to look at Bitcoin's mid-term prospects. Is that actually a reverse head and shoulders complete with retrace back to the neckline? You be the judge. With regards to the indicators, we've created a hidden bullish divergence in the Momentum over the last month. Additionally, both RSI and Momentum stopped short of hitting their lower...
There's a clear bearish divergence on the hourly chart but the upward trend still seems to be strong. With the indicators converging, things could be winding up for a big move at some point over the next couple of days. The EMAs are on the cusp of crossing bullishly but the indicators are forming rising wedges. The price seems to be tentatively retracing up again...
This one could go either way. The EMAs are looking bullish as is Stoch RSI. MACD's less certain and the Momentum and RSI are threatening to break down - we'll see.
Tomorrow's (20.11.14) move is going to be big. There's some really strong convergence of indicators and, although 100% certainty isn't possible, the descending triangle and death cross suggest that this is likely to move the way of the bear. Short-term, I'll be looking to workout the put options on OKCoin. Mid-term, I'll be looking to load up on cheap coins as we...
This chart is highly speculative and mostly just for fun. Reverse cup and handles aren't exactly the most reliable chart pattern but may serve as food for thought for any over-zealous bulls out there. Enjoy the run while it lasts.
Overall, I'm still short-term bear but there's been an interesting bit of divergence on the indicators on the longer timeframes. This current channel seems pretty concrete and I don't think Bitcoin will break it. If it does though, who knows where it would be headed? Looking at the convergence of indicators, this next move might be big or the prequel to a big one....
Just looking at the recent bear trend that we're in with regards to the Fibonacci retracements from 275. The volume is fairly dead and it's my opinion that the recovery to 400+ was over-extended with whales and FOMO moon children. With all that time spent around 380-390, I think the market is making up for lost time with some proper bleeding and that the end isn't...
The 50% fib line has turned from support to resistance with the 4hr closing underneath it. The over-extended recovery has some haemorrhaging yet to come in my reckoning. Sit tight.
Looks like 400-410 is providing enough resistance on this decreasing volume to keep it down for the moment.
Lot's of little triangles, we're currently in one.
A very basic chart showing some details of what's going on at the moment. In my opinion, all bets are off.
This is my first chart and may be completely off the mark. Any advice is appreciated.
Sorry its after the event. . but this is how I picked the bottom and sold at the top on buttcoin.