Curson

Curson Updated 

At around 7k within that blue zone, we would face a cumulation area between the monthly 21, weekly 100 and fibonacci levels of the highs from 2017 and June. Within the next weeks, we'll most likely reach the area between those levels. This week, we are facing a potential drop by 19%, setting up a 80% probability towards more downside in this market. Short term,...

Curson Updated 

In July Bitcoin formed a double bottom at 9.1k with the neckline around 11.1k at the 50% retracement of the current bubble peak. Today we came close to the low of 2 weeks ago around 9520 (9570 today) also hitting exacly the 38.2% retracement of the end of 2017, the neckline was around 11k and also close to the 50% retracement of the beginning of August. We also...

Curson Updated 

Bitcoin broke the daily 21 and the 55, it did bounce off the psychological barrier of 10k so far, but I think an aggressive move like that will be followed by more downward pressure. We are moving within a pennant, the question is - will it break the formation? There is a strong support zone between 10k and the daily 100 around 9.5k that most likely will hold,...

Curson Updated 

Yes, we met the lows we formed 2 weeks ago and it might be a possible double bottom formation. What would need to happen to confirm that assumption? 1) We need momentum to the upside 2) We need to break the trend 3) We need to break the neckline around 11k We saw descreasing momentum since we hit the low 2 days ago We haven't significantly closed above the...

Curson Updated 

Tonight we might test the lows of last week! Looking back into the last 2 weeks, Bitcoin dropped significantly in the very first days of those weeks. It is currently consolidating within the support zone... but we might see the next drop in a few days towards previous lows around 9.1k and the daily 100 around 8.9k - maybe even down to the 50% retracement at...

Curson Updated 

After several failed bargains with the daily 21, Bitcoin is now dropping for a couple of days reaching the support zone and finding new partners to barbain with - the 61.8% retracement from Junes' highs and the 38.2% retracement from 2017. While following current trend lines, Bitcoin is heading towards a retest of the daily 100 around 8.9k, most likely also...

Curson Updated 

There is this catching theory out there that Litecoin might have become a leading indicator for Bitcoin movements this year by advancing it by some weeks. For example Litecoin topped 2 weeks earlier than Bitcoin and broke the daily 21 also 2 weeks in advance with today breaking the daily 100 - let's await and see in 2 weeks, if Bitcoin follows by breaking it's...

Curson Updated 

After the recent double top, we are in a sandwich between the daily 21 and the 55, does that ringing any bells after a major bubble ? I do recognise a possible pattern here... keep in mind that 2017 was way larger and slower in pace than Bitcoins latest development. But if we follow it - and adjust to volume and speed - we still would fall towards the daily 100...

Curson

I recognize a pattern here! Let's have a look... The bubble of 2017 was huge - way larger than the latest one and way slower - therefore I assume that conclusions have to be adjusted accordingly. But nevertheless I recognize a double top there followed by a sandwich between the daily 21 and the 55 that pierced directly through the 100 down to the 38.2%...

Curson Updated 

We tested the 21 daily today at 10.9k and Bitcoin is still bargaining - but we also rejected the highs of 4 days ago around 11k. Following the current trend lines, I guess we'll see a drop to the major support zone between 9-10k. There is some hope for a rebound around the 10k levels, but I think a retest of the daily 100 around 8.9k is more likely now.

Curson Updated 

The market breathes in ups and downs and even pull backs from pull backs: After that recent drop, we saw a pullback to the 61.8% retracement from last week's highs - often pull backs happen to be towards that level. Now 2 days ago the pull back from June's highs closed near the 61.8% retracement around 9.7k. Usually followed by a counter pull back. That today...

Curson Updated 

With that weekend plunge we did fall through the trend line, the 21 daily and the 3 weeks' support zone. Currently we bounced back from the daily 55 right into the support zone again but not the other 2. A pullback like this is very common and might likely end up with further downward movement. For now we have the daily 55 around the psychological level of 10k...

Curson Updated 

Yesterday I forecasted Bitcoin to reach the next support zone by the end of the week - actually rather sooner than expected, but today we seem to land between 9575-9750. That is a convergence of the 61.8% retracement from the latest highs - also the neckline of the double top we formed (bottom between the tops) - and the 38.2% from 2017. Moves like that are...

Curson Updated 

I got an interesting comment that we might only be forming a consolidation pennant here, I still believe that we reached a double top but really have no data to reject that idea for now. As weekend moves tend to form extrem moves I guess the next days will reveal where we really are. We are still respecting the 21 daily, we are still fighting the 8 daily and the...

Curson Updated 

Yesterday Bitcoin failed to reach the highs 2 weeks ago, now forming a double top pattern setting a tone of bearish development. If so in a couple of days maybe next week it will retest the the 61.8% level around 9850. That opens the door to rendevouz the daily 100 around 9k in the next few weeks.

Curson

Bitcoin didn't make it that far and rejected the 2nd top of last week immediately, alright my guess was too optimistic but not that wrong about the direction at all. But the current move looks well like a double top - where there is little hope for early recovery and more doubts for the short term future... we are testing the 50% retracement around 11.575 and are...

Curson

Nothing new since yesterday, we closed in yesterdays' support zone and will most likely close above it today - gaining further strength to test 13.5k again tomorrow. Sleep tight!

Curson

We are currently testing the zone of the lower highs from last week around 12,3k. If we close in or above it, we most likely see further strength up to the zone of the 61.8% retracement and the previous high around 13,5k. If not, we must protect the 50% retracement from 2017 around 11,575 to see further upward momentum.