The main thing I am seeing is how perfectly Elliott waves are forming to this market. * When wave 1 first started that was a clear sign that the bull market started based upon the very bottom that we hit. * Wave 2 was simply corrective and it barley managed to break Fibonacci 61.8%. * What is interesting to see is that wave 3 was the biggest wave that we have...
To make sense of all these colors we shall look at the some past history. The highest of the highs back in January 06, 2014 started the downward trend. The trend broke in February when the long term Fibonacci retracement (not shown) hit the lowest level. Now BBands are rather easy to predict that the we are going to fall back onto them. Funny fact I happened to...
EXPIRED Update: 4:23PM Looks like we are still seeing some low volume when going up. May be time for some trend lines and Fibonacci Retracements as it looks like downward trend. We have just seen a hug run up in price from 570 to about 700. There are many saying that possibly it is just whales trying to push it up. No matter the case here is some TA. As I was...
*** Disclaimer: This is NOT TA BUT rather an idea of why Bitcoin could make it to $10,000. This is NOT an official stance on where I think prices will go.*** You can scale the chart by clicking and holding down on the prices on the right. So this is an out of there idea that is not TA related. What if we are in a giant mark up phase? It makes sense since...
This is a tough one to try to decipher on the 4H chart. * The RSI has not given a BUY signal and still remains above that threshold. Expect continuing downward movement. * Ichimoku is giving a clear signal that is saying that the ranging market is like to end with a quick downward movement. The two Ichimoku supports are very close so that tells me it is...
At this point it looks like the market has gotten stuck in between the two Fibonacci retracements while the BBands are providing dynamic support levels. Looking at the Fib circle it may be possible that in the next 2 hours we are going to see a breakout. I would have to push out further to see if it would go up or down, but I have a feeling it will go up. Only...
One day ago it may not have been clear where the market was going, but many indicators were screaming "BUY!" The leading indicators (PSar, RSI, Stoch) about the same time indicated a clear buy. A few hours later even lagging indicators (EMA, MACD) were crossing over giving buy signal. Now a day later BBands just broke upwards and are starting to fall on the...
Looking back at when the first run up of Bitcoin prices started happening I can see clearly the 4 phases of a market cycle.The double top was a clear distribution phase signal. Currently we are in the mark down phase with prices that may fall another 50-60 (possibly 500 or upper 400s) before seeing the bottom. Once at the true bottom expect a run up in prices. The...
Bitstamp has got caught in the ranging market which is what I thought it would do based on previous days watching the markets. When the breakout happens it will come within the next 12 hours at which point the BBands will confirm it. The movement will be rather quick, but use BBands to avoid any fake outs in either direction. When we do breakout I can easily see...
Many of the indicators are agreeing that there is going to be some downward movement of the coming hours. EMA 10 & 20 are about to crossover which would confirm a downward trend. Seen the MACD already crossover and expect continuing divergence over the coming hours. BB bands indicate that 620 could be a good target price. While Bitstamp did re enable...