PhilipTG

PhilipTG

The long target of $1300 has been achieved. As with any market, things can continue to remain overbought for a long time. I am leaning towards a pause here and retracement back to previous ATH around 1160. That would setup a larger fib support level in the $1000 area should the ATH bounce fail and breakdown. I will not draw that until we have more of a pull...

PhilipTG

not likely this is going to be a triple top... $1300ish will be next stop. The fact that it brushed off the Chinese regulations is impressive. In past times negative Chinese news impacted BTC for weeks or months at a time. This was a much smaller half-life. India's position on cash is undoubtedly feeding the bull as well. We are probably in a bullish window...

PhilipTG

BTC always ha.s repsonded well to fib levels. My previous posted targets upside targets were hit on this run up. So what we have here is a very close to a double top of the all time high's. This coincided with the panic out of China with the threat of capital controls and exchanges eliminating margin trading. So now the test of the $800 - $720 retracement...

PhilipTG

Looks like the long standing fib resistance zone is on it's last leg. Clearing 800 should pave the way for $928. Less supply from halving will only amplify short squeezes.

PhilipTG

Major Fib resistance zone from ATH to last major low has played out as expected. A nice bottoming pattern has been put in and multiple fib targets have formed to the upside. With Gold and silver breaking out we should expect to see collateral effects to BTC. Halving is quickly approaching, I suspect that we will start seeing an increase in uptrend, although...

PhilipTG

50% retrace swings continue to work well. Here is my next target having bought back in at $725.8

PhilipTG

We are starting to get a bearish divergence on the RSI, so this may be the top, but certainly could eek out a few more points while RSI maintains Divergence. So for now this is the current entry for next swing long. Will update this as top develops. The shaded red Area is the fib resistance zone from ATH to most recent Low as shown in previous charts. It has...

PhilipTG Updated 

Pretty obvious buy support came in on the retracement toward 50%. .236 fib ext would be the next target. I will sell just below it.

PhilipTG

Here's the long term view, a bit over bought short term and right up against resistance. Short term view is short, long term is definitely long.

PhilipTG

BTC volatility has returned, and in a good way for the bulls. So IMO it's going to be a "Buy the Dip" environment for the near term. With halving approaching, I think this is just getting started. So my analysis will focus on hourly timeframe and looking for opportunities there, with daily time frame providing major areas and support and resistance . As you can...

PhilipTG

So Russia bans BTC. Well if you are into catching falling knives, normally I would say this would be one area to give it a try. Trend line and fib support here, with more fib support just below. However, since there are a lot of BTC in Russia, there will probably be more selling pressure, so I think the trend line will be broken and the major support zone...

PhilipTG

Well Shorts won this battle, the long standing short target has finally been hit. But this is still a larger consolidation if you view the 3 month chart. For the daily time frame I suspect we will continue to consolidate sans any credible news event (positive or negative). I will post a comment on the 3 month chart later.... BTC: 1ApoHQdEYix9DYZUsVSzYdXTGbnmfyeftD

PhilipTG

Nice break of the trendline right into previous resistance zones. I like the price action here, it looks like it's getting ready to break back over 1,000

PhilipTG

I am still biased long but if you are looking for an entry I would wait until we clear resistance to add any longs. Shorts should have stops above resistance levels else risk your face getting ripped off :) BTC: 1ApoHQdEYix9DYZUsVSzYdXTGbnmfyeftD

PhilipTG

Here are current target based on currently active support and resistance zones.

PhilipTG

As mentioned in my previous post the breach of the smaller support zone was followed by more selling. BTC still very news driven, and more negativity out of China has caused the bears to come out of their caves. Price action is bearish here but we are the $900 support level and also in an intermediate support zone from a previous bull leg. However this support...

PhilipTG

I am long as long as the 926 level is not breached, and by breached I mean I would like to see 2 red closes on the hourly chart below it. BTC: 1DD14Qqxtjg22mamco3YwVpK52HGz7UvjC

PhilipTG

Currently in a fib resistance zone and hitting the underside of the previously supportive trend line. So consolidation is expected here, and maybe a bit of some selling. That being said, this looks bullish overall. BTC: 1DD14Qqxtjg22mamco3YwVpK52HGz7UvjC