jorge964

jorge964

We have a new down trend forming with lower highs. This could take us easily to the 4000 and if it doesn't bounce back at that level it will probably go down to the 3800, 3700 or even 3500 which should work as a strong support. If that support is broken also then we will see the 3000 again. I mention those values by looking at the Trend based Fibo, pending orders...

jorge964 Updated 

Although I initially thought that the breakout on the 25th was going to be a false breakout and sold my position @4229 (bought @2200) I saw with a bit of despair how it was forming a new uptrend after the breakout that seems to be a good one. In any case, looking at the moving averages, MACD and RSI I thought that on the 28th it should have a small correction. On...

jorge964

In a mid term uptrend channel that could continue. We are a bit high in the channel right now and MACD is going to cut from below soon (4h?) so probably not a good moment for entry. WAIT for price to drop to support channel and I'll BUY on rebound only if the other indicators give confirmation, put STOP LOSS below the support channel at the wigs or below the...

jorge964

WAIT: Consolidating after a big correction, with an uptrending support. Wait for breakout of resistance and check MACD, RSI, EMAs, MA to see if we buy a new uptrend. I think it will continue consolidating for 1 or 2 weeks.

jorge964

I have posted a previous idea about long term Elliot Wave, here is the analysis mid term in logarithmic scale. If this is correct we could see BTC to reach the long term wave 5 in November coinciding with the medium term wave 5 reaching around 6000USD to start then the correction phase that could reach around 1800 on wave 5 by January 2018 within a longer term...

jorge964

A theoretical attempt to apply long term Elliot Wave to BTC. On logarithmic scale. I'm not sure if this will really happen, going back to below $10? Right now I doubt it but if Elliot Wave theory is correct it should. May be by that time governments have made illegal cryptocurrencies except a digital SDR issued by the UN??? Who knows... I've done also a shorter...

jorge964 Updated 

This is my technical analysis on BTC for today, I believe that it is ready for a correction similar to the previous one before it continues growing, may be to the 6000USD. We could see again also a bulltrap like in the previous correction, may be up to around 3988 before it goes down to around 3148 (0.5 fibo) to start growing again to around 6000 (5913 or 2.272...