2019 Cryptocurrency (Elliott Wave): Inflection Point
From the 2018 bear market low set on 15-DEC-2018, the Bitcoin bull market has gained 340% into the high of 26-JUN-2019. Since then, the largest pullback of the 2019 bull market has been underway, thus far a 35% decline heading into...
An idea with a linear chart as a noise removal technique.
First, let's address the term "Noise", in a broad analytical context, noise refers to information or activity that confuses or misinterprets genuine underlying trends.
If we strictly speak in a technical context, noise is simply all the price data that distorts the picture of the underlying trend this...
BTCUSD has flirted with this long term trendline dating as far back as, where I would consider the initial touch to be, 19th September 2011; 8 years of trading have shown that this could well be the general direction for the price action of the cryptocurrency.
If price action continues to move sideways, we could well see a retest of the aforementioned trendline....
People are getting so carried away about a few little wicks... All noise within the larger scale of things. This close to the halving, approaching the most bullish quarter for Bitcoin, and in a wedge which at worst is neutral pattern, and based on the weekly candle bodies is clearly ascending rather than descending. A break and close below the 21-week EMA of...
we wont get another bull run untill we see a green low on NVT,
see the bottom NVT graph- green means bull, history helps
VERY LONG SLOW MARKET AHEAD.
CME futures tamed BTC- learn to trade 5 or 6 percent moves
After hitting the historic trend line from which we saw BTC break down from in November 2018, we're now looking to retrace back to the support that held us at 3k.
If this support holds we should see a low in August/September of this year. Fibs point to the next logical step at 30k, which would take us again to the same resistance recently encountered.
STOCHASTIC: Indicator is severely overbought as well as the RSI & other oscillator indicators.
SCHIFF PITCHFORK: Median line has been well respected in the past and price is struggling to cross this large resistance area.
VOLUME: Breakout of the 8200~8400 level was not followed through with volume indicating the lack of buyers in the market. Volume over the last...
Bottom was in few months ago, i don't think we will be seeing 3k Again. The Support and Resistance indicators show that Bull Market started just a month ago along with that MACD turning green, with that Daily 30 and 200 MA cross or was it EMA?
A clear weekly closure above what was once a critical support now turned rejection, having 10 plus touches before we beared down and saw $3k BTC. that alone for me is an extremely comfortable signal for a slow and steady retestback to $20k!