Get started

Btcsignals

BITCOIN and GOLD! Short term connection that can reveal a lot!You are all familiar with the similarities between Bitcoin (Digital Gold) and Gold on the long term and on a cycle wide scale. Similarities that have allowed to accurately price Bitcoin's bottom: Or still see an early entry on the Golden Cross occurence: Even spot the parabolic extension from the 0.382 Fibonacci level to the 0.618 peak: What is very interesting is the similar candle action on the short term price movement between the two. Again Gold appears to be leading BTC! Can it be a coincidence that both store of value assets have broken into a new bull cycle and made their peak at the same time? Surprisingly Gold is more aggressive trading well above the MA200 and since yesterday even above the MA50. This is also better illustrated by the fact that Gold managed to make a peak on the 5 Fibonacci extension (from the consolidation phase), while Bitcoin managed to peak at 4.236. This is purely an educational analysis intended to develop the general notion that Bitcoin and Gold (digital store of value and physical store of value) are by nature interlinked. What are your thoughts on this study? Can Gold show the way to BTC even on a shorter time frame? As usual let me know in the comments section!!
BITSTAMP:BTCUSDEducation
by TradingShot
6
Do you believe in Bitcoin Fractals? If so then take your pick!I am going to keep it simple on this one. After all Bitcoin is not a complicated asset, it follows the same patters and cycles again and again (longer term to a greater extent). So if you are into Fractal Analysis I have something for you that may be of interest. Since the December bottom we have a steady rise. Steady and not aggressive/ parabolic as BTC is still in the Accumulation Phase will most likely stay there for quite some time before it breaks or makes new All Time Highs again. Steady price action calls for clearer patterns with more standard entry/ exit points. So I attempted to break down this steady rise into 3 Fractals, all having as a common factor the duration, which is approximately 53 days. Assuming the current one (3rd in succession) lasts for 53 days as well, what remains to be calculated is the relative price action within. If it follows Fractal A then it (Fractal C) should make an equally steady decline of around -22%. If it follows Fractal B then it (Fractal C) should trade sideways within 4900 and 5500 until its completion. If I am taking a pick I would go with Fractal A mainly because it (Fractal C) is close to Double Topping around the same time (22 days). Also the rise from their bottoms is more close. Take your pick and let me know what you think in the comments section! P.S. For the record (because you may misinterpret my approach), MA analyses and Fractal pull back levels are only suitable for buy on the low, sell on the high to short/ medium term traders. Long term investors (like me) should keep what they already have on their portfolio and stick to adding/ accumulating Bitcoins on those pull backs. In the meantime, feel free to take a look at some related material on BTC:
BITFINEX:BTCUSDEducation
by TradingShot
7
Bitcoin Cross is about to happen! See how to trade the pattern!The 1D MA50/ MA200 Cross (Golden Cross) is about to take place and you are still wondering how to trade it? Well the last time that happened in July 2015 following the previous bear cycle's bottom, Bitcoin pulled back by around -35%. Then the price rebounded towards a Death Cross (1D MA200/ MA50) that made it consolidate before a new (and final) Golden Cross that pushed BTC to new highs. The Distance between the 1st Golden Cross and the Death Cross was around 62 days and the (D) between the Death Cross and the 2nd Golden Cross 42 days. I have tried to plot the same pattern into today's chart. The conclusion is yours! *Bonus the Ichimoku Cloud which plots a path ahead of the Crosses! It never hurts to look at related material: The MA cross on the 1W chart The pull back explained by the RSI
BITSTAMP:BTCUSDEducation
by TradingShot
92