Details in the chart :) Cheers, Leb Crypto
Short term trade idea: Bull pennant breakout by tonight. $4180 target - which coincides exactly with the target of the yellow falling wedge. Wait for confirmation break above the pennant and enjoy the trade if it plays out! Leb_Crypto
Hi everyone, Here's a simple trend line analysis on XRP's potential price at end of this year (EOY 2019). XRP = $12 by Dec 30, 2019. Note that the main initial macro target I'm keeping my eye on is in year 2020 (next year), and that target is $20... after which I expect some form of significant correction again below $10. So I won't sell much of my XRP at...
HODL and/or accumulate well as you see 1- the ascending triangle formation at the end of this 2018/2019bear market, mimicing almost exactly the ascending triangle that characterized the ending of the 2014/2015 bear market 2- the yellow trendline 3- the uptick in the monthly stochastic RSI June/July 2018 should be interesting for Bitcoin. :)
BTC likes to test the 61.8% Fib Retracement level. I'm suspecting we're possibly going higher to test that level before going down again to retest the 200WMA or the December lows for a double bottom. This will unfolding over the coming 2 months or so. #BITCOIN #BTC
The third falling wedge in 3 months is playing out to a tee - until now... *grin* Bitcoin! Welcome to consolidation era: falling wedge followed by a rising wedge, followed by a falling wedge, etc.. you get the idea.
This is the most likely long term BTC scenario that I see on the Log Scale. The Yellow Trendline (all the way back from the 2015 bear market) will most likely need to be retested prior to the next Bull Run. Until then, we move mostly sideways for almost a year. Not financial advice: Trade less, accumulate more, HODL at peace.
We've had 2 clear falling wedges (yellow) over the past 3 months. We are potentially in the third falling wedge (yellow), with targets at the $4,100 area in mid-to-late March. Notice how each falling wedge has a decreasing slope, indicating more and more that we are in a clear accumulation/consolidation phase, where the bears are mostly out of steam but the...
A simple yet very powerful indicator could be the Monthly Stochastic RSI. We recently had a bullish cross on that indicator. Looking at the previous 2015 bear market, we see that once the Stochastic RSI hit the bottom, a bullish cross-over indicated the end of the bear market and beginning of accumulation/consolidation phase which went on for a few months. Even...
If BTC manages to stay within this falling wedge (in white) - and not fall below it - until late March or early April, this is MEGA BULLISH for BTC and therefore the whole crypto space. If BTC breaks out of this falling wedge to the upside, 2nd half of 2019 is looking VERY promising for the crypto space. BTC target upon breakout of this falling wedge is at...
The most likely scenario at the moment is a healthy pullback to the 61.8 Fib prior to continued bullish momentum with a nice weekly candle close above $4.1 This is only short term analysis - good for a nice swing trade #notForHolding
If you check out the Bollinger bands on the weekly BTC chart, you would see how over extended they become when BTC hits its all-time highs. Using a basic analysis on the Bollinger Bands bottom (lows) at each all time high, gives a very good projection/indication of the lowest price range of BTC in each following bear market. Projecting the above theory to the...
Despite an expected dip to the upper $5k levels this month or so, a Massive Bull Flag on the weekly could play out starting late October 2018
A contrarian trading idea on BTC's weekly chart: While almost every decent trader (even myself) is expecting the bear market to continue after this mini-August rally, I do think it's worth considering going long on BTC till end of year. Here's why: Everyone seems to think that this mini bull-run will cap in the $7.500-8,500 range, and that the 2018 bear...
Since Bitcoin has proven to be inversely correlated with the US Dollar, Q4 could be bullish for Bitcoin indeed if the USD shows the expected weakness with the potential formation of a massive H&S on the daily coupled with the bearish news as of late.
Red line shows the general (rough) trend line from October 2017 till October 2018. Expecting the end of this YTD bear market around mid-October 2018 and the start of a new rally. I think the rally this year will be more modest than end of 2017, but a bull market nonetheless.