Kelly_John

Kelly_John

Bitcoin has been in a logarithmic channel with a clearly defined resistance, support, and median line. Bitcoin is at the top of this channel. The RSI is overbought and shows a bearish divergence. This indicates a downward trend. There will be support at the median line, providing a good entry point for trades. When it finally breaks this line, Bitcoin should drop...

Kelly_John Updated 

Bitcoin Cash, the infamous result of a long feared yet successful BTC hard fork , is finally showing promising patterns after nearly a week of selling off. BCC 0.99% formed and broke out of a high tight flag. It has begun another flag with a strikingly similar 'W' pattern. The short and long term MACD lines have crossed. 161.8% line is 0.157 The...

Kelly_John

Bitcoin has formed a long-term channel. Although it is in a downtrend, the channel is not steep so it will be easy to trade as the price oscillates between resistance and support. This would be a good opportunity for a short. Wait for price to retest resistance, RSI to retest resistance, and/or MACD to cross before shorting. First target is 1830. After that...

Kelly_John

" A short squeeze refers to a jump in a stock's price, forcing a large number of short sellers to close their position, which in effect pushes the price even higher. When an investor shorts a stock, he borrows shares from another account and sells them, agreeing to replace the stock at a later date. Short sellers predict the price will go down, enabling them to...

Kelly_John

As many of you are aware, BTC will be implementing a protocol on August 1st entitled Bitcoin Improvement Proposal 148 (BIP 148). This proposed user activated soft fork, or UASF, will implement segregated witness, or SegWit (does every crypto term have an acronym?), and ease Bitcoin's scaling limitation. However, there are many nodes that do not support SegWit, and...

Kelly_John

In the chaos, there is beauty. All things follow a natural system, and the high moments must be complimented by the lows.

Kelly_John

Bitcoin has definitively created a downward channel. Previous congestion and the 61.8% fib retracement should give it enough strength to break the channel somewhere between 1600 and 1750. The run could take it back to 3000 and beyond, or it may reflect off of lesser retracements and resistances. It should run in early September.

Kelly_John

Most analyses that I've seen lately have been fairly short term and optimistic. I have focused on the opposite. For years, Bitcoin has been caught in an ever growing cycle of bull and bear markets, bubbles and consolidations, peaks and troughs. Extrapolating this pattern hints at the longer term future of the coin. I believe that Bitcoin will bounce at 1750. I do...

Kelly_John

Bitcoin should make a large move very soon. If the long term trend holds as support, I expect it to make its way up to 3000 again. If instead it succumbs to resistance and penetrates the trend, I expect it to fall to 2100, or even 1900, and bounce around the fib retracement like it did in March.

Kelly_John

Etherium will make a decision soon. I'm pessimistic, as a long term logarithmic channel has been broken.

Kelly_John

Etherium was unable to hold the lower support of the logarithmic channel it had followed since last Christmas. I expect Etherium to return to the 61.8% fibonacci retracement at 215, and possibly to the 78.6% at 158. The descent may be slowed by a support line on the non-logarithmic chart, but I believe it will be unable to hold as the longer term log channel has...

Kelly_John

Etherium has been following a logarithmic channel for months. It should break this shorter term resistance and bounce up, but if it doesn't, we should expect a heavy selloff. Decision will be made in about 12 hours.