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Litecoin LTC Long Term Low Set or just a Correction, Part 5Litecoin just keeps on popping up, ignoring all the resistances and possible short term bearish pattern. It even broke that channel on the upside already, which is something that rarely happens. So that "long" term resistance around 50 broke as well. Because of this, the real test will be seen now. We have already made a pullback to the 50/48 zone, there is a little bit more room left, but normally we should stay above that channel now. If this starts to take a lot of time (several days) the chances for a bigger correction will increase a lot. But the 46/44 blue trend line on the left could also work as support. The green support around 40/42 can not brake anymore, that could even suggest the whole rally is over already and we have set a bull trap with the moves of the past 2/3 days. Ideally we see that triangle on the right form, but that would be unlikely because that needs a lot of conviction. I only see that happen if Bitcoin can break the 3970ish again. I think a retest of the 48 support is more likely to happen than a move to the high again. Low time frame it's a bit difficult to judge, higher time frame is mentioned above with an addition, that if we rally, there is a big resistance zone ahead around the 65. Weekend is also closing in again, so would like to see a clearer picture tomorrow. Please don't forget to like if you appreciate this :) Previous analysis:
BITFINEX:LTCUSD
by botje11
2
Bitcoin, long term ABC examples, Part 2An update on that post i did on 30 Jan, where i tried to show some objectivity on the current stage of the market. If you want to know more about it, read the previous analysis about this. As you can see, i have drawn yellow circles on what i think were Bitcoin currently is. Just to give a picture of what could happen the coming period. It's still not clear if this is just an ABC correction or an impulse wave up to start a new trend. A lot will depend on the coming week i think keeping an eye out for volume and conviction. The 3700/750 is still a big level to break, we can compare it with the 3650 (bitfinex) back in Dec. If that zone breaks with good volume again, chances will be much bigger for a continuation of the rally. But we have to see it break soon, would be best if it happens on Monday already. So far Bitcoin is holding it's levels above 3600, alts look very stable as well, so it's looking all very good at this point. If we look at the others, none of them crossed the 3450/80 level/zone Bitcoin has now. In other words, this whole picture will fail if that level breaks again. Markets needs to keep it above that level, but preferably even above 3570/50 Please don't forget to like if you appreciate this :) Current analysis:
BITFINEX:BTCUSD
by botje11
56
BTC Fibonacci ClustersThis chart is loosely based on Carolyn Boroden's work with 'Fib Clusters'. I have plotted the 0.5, 0.618, 0.786, 1.272, 1.618 and 2.618 fib lines from every swing low to each of the next 3 swing highs (since the start of the bull). I've also got a $20k - $6k in there aswell. I find it interesting to see how at the $11.7k double top, price was rejected by a tight cluster of 5 and the $6k bottom is also comprised of a triple cluster. It's worth noting how price seems to move relatively freely between clusters. In the chart I have highlighted the areas where there are more than 3 fib levels occurring within a very tight range. These are the support levels I'm looking to if the $6k bottom is to bow down to selling pressure. Im eyeing the clusters with at least 1 pink line (0.618) as being the most powerful support.
BITFINEX:BTCUSD
by MissingAnderson
SHORT. Supports broke previous marked targets all hitting. As with my previous targets in my last chart all targets are been hit. We are still in the aftermath of a strong price rejection above $6800 and the weakening support of $6700 until now support has been broken all below $6,400. We have some weak buy volume testing the support here. All my previous targets from my last chart have played out perfectly. Hope you all have profited!! When I look at RSI and MACD levels and progression on 1H, 4H and Daily and other things like the Rising Wedge and bear falg and a few other things I would say it would be very possible to see a pullback and break down through the Rising Wedge to a 50-61.8 Fib Retracement. We have now seen the first pull back to around $6,400 and now looking to 6,270 before confirming anything deeper. As always we have to wait and see what the market makers have in store for us in these situations. As always be ready to play the market both ways whatever the market markers throw at us and beat them at their own game. If you found my previous chart and this one helpful please give a like and a follow. Everything I provide is free and for the betterment of the community. Remember everyday, new data. Stay Frosty!! Thank you!!
BITFINEX:BTCUSDShort
by achtung360
Bitcoins Big Bears Shakeout Part 2, solving the puzzle. UpdateI am going to keep it short this time. So far Bitcoin is having some trouble with the heavy resistance at 9000/9200. But what's not in favor of the bulls as well, there still has not been a healthy correction.We need to see if buyers are willing to buy it at a higher low and push it back up again, instead of everyone getting bearish again if would would drop to 7500/7000 within a few days. That moment the market must show it's hand to give confidence the bear market could be really over. Now it's still to much FOMO and that's just not sustainable for very long. Alt's have been very strong lately, but some of them are showing some top formation's as well. But i have to say, we saw these formations in November/December as well and price just kept pushing higher and higher. But sentiment was extremely bullish than and the crypto hype engine was at it's ATH. I don't think people dare to HODL with big amounts like they did in 2017. I think everyone with serious money has his/her finger on the sell button in case prices start to drop again. IMO this has to change for the market to start get real confidence again and people are willing to catch the price at each higher low. That's why i keep saying, that making a correction is more bullish than making rallies like this that eventually fail (like we have seen many times in the last few months). I have a short position on Bitcoin again, after the first one failed yesterday. Price jumps are slowing down, price is hesitating around a big resistance level. But we need to see a serious drop below the 8600/8500 to be able to say that a correctional phase will start. So far it has made a lower low on the short time frame, but it's still close to the high. So if we keep staying above the 8750 the next 24 hours, than chances increase allot that Bulls will push it through that big resistance. If we do drop today, we could see that H&S getting a real form. Don't forget to like if you appreciate what i am doing :) Good luck trading
BITSTAMP:BTCUSD
by botje11
241